Litecoin

<p>Litecoin MimbleWimble balances and balance conversions are now live on BasicSwap DEX, a first step towards full MWEB swaps. </p><h2 id="header-0">How to Use Litecoin&#39;s MWEB on BasicSwap DEX</h2><p>To begin using Litecoin MWEB on BasicSwap, you need to either <a href="https://academy.particl.io/en/latest/basicswap-guides/basicswapguides_installation.html" rel="noopener noreferrer nofollow">install the DEX</a> on your computer or <a href="https://academy.particl.io/en/latest/basicswap-guides/basicswapguides_update.html" rel="noopener noreferrer nofollow">update it to the latest version</a>. Detailed instructions for installation and updating can be found at the <a href="https://academy.particl.io/en/latest/index.html" rel="noopener noreferrer nofollow">Particl Academy</a>.</p><blockquote><em><strong>Note:</strong> If you&#39;re using Windows, you can use our all-in-one .exe installer <strong><a href="https://github.com/gerlofvanek/basicswap-installation-GUI" rel="noopener noreferrer nofollow">here</a></strong> which fully automates the process: </em><a href="https://github.com/gerlofvanek/basicswap-installation-GUI/releases" rel="noopener noreferrer nofollow">https://github.com/gerlofvanek/basicswap-installation-GUI/releases</a> (latest installer version)</blockquote><p>Once installed, navigate to the Wallets page on the DEX where you&#39;ll see all the coins you&#39;ve enabled. To manage your Litecoin wallet, click on the &#39;Manage Wallet&#39; button at the top right corner of the Litecoin tile. There, you&#39;ll find both your standard and MWEB Litecoin deposit addresses. You can send your coins to these addresses as needed.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/94f0816e26be4ffe87bf011d42aacc09.png" /></p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/6dc18735ccc74872bf56c74fa0cd3d4e.png" /></p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/8e2589be141e4f2586485b2862520b37.png" /></p><p>To switch coins between standard and MWEB balances, simply make a withdrawal from one address type to the other. This will create an internal transaction, effectively converting your balance between the two states.</p><p>For example, to transfer coins from your standard deposit address to your MWEB address, simply copy and paste your MWEB address into the LTC address field, enter the number of LTC you want to transfer, and click on the Withdraw LTC button.</p><h2 id="header-1">Providing Liquidity to Litecoin Pairs</h2><p>While full MWEB swaps aren&#39;t yet an option on BasicSwap, you still have the ability to swap Litecoin using either the Secret Hash method or the more privacy-centric Adaptor Signature protocol for atomic swaps. This means you can trade Litecoin for any of the other cryptocurrencies available on the DEX, including Monero, Bitcoin, Particl, and many more.</p><p>To make it easier for you to provide liquidity on the DEX, we&#39;ve introduced a <a href="https://github.com/tecnovert/basicswap/tree/master/scripts" rel="noopener noreferrer nofollow">companion automated market making script</a>. This tool runs in tandem with the DEX, automatically republishing your offers on the order book once they expire and adjusting their prices to align with the current market rate.</p><p>Additionally, you have the option to configure the script to list your offers with a premium over the market rate. This feature provides an opportunity for passive income as others pick up and trade with your offers.</p><h3 id="setup-basicswap-on-a-vps">Setup BasicSwap on a VPS</h3><p>The first thing we recommend if you intend on providing liquidity via the companion script is to get a reliable 24/7 BasicSwap instance that requires no manual input from you once setup.</p><p>You can easily do this by installing the DEX on a cloud/VPS server. This is extremely useful because, once deployed, it won&#39;t require you to keep your computer on at all time and won&#39;t cost you storage space or CPU power on your personal computer.</p><p>While there is a cost associated with hosting a VPS, our second video, which shows how to run the automated market making script on BasicSwap, may help in offsetting the costs by setting a premium over the market rate and have other people pick up your swap offers.</p><h3 id="automated-market-making-script">Automated Market Making Script</h3><p>The second video tutorial shows you how to deploy BasicSwap&#39;s companion automated market making script on the cloud instance we&#39;ve just set up. This allows you to provide liquidity on the order book in a completely automated manner, ensuring that your offers are republished when they expire.</p><p>What&#39;s more, it also allows you to peg your rates to the current market prices and add a markup on top of that market rate, netting you potential passive income whenever others pick up your offers.</p><p>Combined with your cloud instance of BasicSwap, this makes running an automated BasicSwap node and providing liquidity to Litecoin pairs entirely effortless once the initial setup is complete. Simply ensure your server is online, deploy the market making script, and earn some sweet passive income as people enjoy your liquidity for their swapping needs.</p><h2 id="header-2">Win a Physical Lealana Litecoin (Worth ~$1,000)</h2><p>To celebrate the launch of Litecoin MWEB on BasicSwap DEX — the world&#39;s safest, cheapest and most anonymous decentralized exchange — we&#39;re giving away five (5) <em>2013 Lealana 1 Litecoin “First Run”</em> bullions, <a href="https://stacksbowers.com/cryptocurrency/litecoin-ltc/#:~:text&#61;Overview%3A%20The%20Lealana%20Litecoin%20series,physical%20bitcoins%20introduced%20in%202011" rel="noopener noreferrer nofollow">valued at approximately $1,000 each</a>.</p><p>To participate, simply (1) place a bid on the contest listing on Particl&#39;s decentralized marketplace dApp (<strong>listing title: Particl x Litecoin MWEB Contest</strong>), (2) like and retweet the contest tweet, and (3) tag three of your friends in the tweet&#39;s comments section. The link to the tweet will be shared tomorrow in a blog post exclusively dedicated to the contest on <strong><a href="https://particl.news/" rel="noopener noreferrer nofollow">Particl News</a></strong>.</p><p>We will be picking a lucky winner at random every two Sundays over 10 weeks, for 5 rounds total.</p><p>Mark your calendars for these draw dates (all at 2PM EST):</p><ol><li>February 18, 2024</li><li>March 03, 2024</li><li>March 17, 2024</li><li>March 31, 2024</li><li>April 14, 2024</li></ol><h3 id="important">IMPORTANT</h3><ol><li>While there is no need to include your real address when placing your order on the Particl Marketplace contest listing (you can enter a dummy address), <strong>you must include your Twitter handle as your name</strong> so that we can verify that you&#39;ve liked and retweeted the contest tweet. Orders without a Twitter handle will not be counted as valid.</li><li>We&#39;ll contact the winner for shipping details through the official BasicSwapDEX Twitter account. Do not give your address to any other (scam) account that may try to reach out to you.</li><li>There will be only one win per person. Winners are excluded from subsequent draws.</li><li>While a small amount of PART is currently required to place an offer on this listing, the introduction of Litecoin as a payment option is on the horizon as a BasicSwap DEX integration into Particl Marketplace is planned in the future.</li></ol><h3 id="about-particl-39-s-decentralized-marketplace">About Particl&#39;s Decentralized Marketplace</h3><p>Particl Marketplace is an anonymous, commission-free online eCommerce platform similar to eBay, but entirely decentralized.</p><p>Built from the ground up with privacy in mind, it operates without any knowledge of your personal information, instead leveraging a two-party escrow system and Particl&#39;s native privacy coin, PART, to keep transaction details confidential and trades secure.</p><p>Read the full article at: <a href="https://particl.news/litecoin-mweb-balances-and-conversions-live-on-basicswap-dex/" rel="noopener noreferrer nofollow">https://particl.news/litecoin-mweb-balances-and-conversions-live-on-basicswap-dex/</a> </p><p></p>

Litecoin's MWEB is Live on BasicSwap DEX

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