Liquid restores full BTC backing, but withdrawals stay manual
BROBROK News · Based on reporting by CryptoSlate ·
SideSwap said the Liquid Network’s L-BTC is again fully backed by BTC, with 4,270.54 BTC matching 4,270.54 L-BTC. Even so, customer payouts still depend on SideSwap’s own Bitcoin wallet because direct Federation withdrawals remain restricted.
Key points
- The reserve now matches L-BTC circulation on a 1:1 basis again.
- SideSwap said recent BTC deposits helped restore the balance.
- L-BTC to BTC conversions remain open through SideSwap, minus a 0.1% fee.
- Payouts can still be delayed if SideSwap’s wallet needs another refill.
- No confirmed date has been given for the return of Federation peg-outs.
Why it matters
Full reserve backing is an important repair step, but it does not mean instant liquidity for every withdrawal request. The story highlights the gap between restored collateral and the network’s still-limited redemption process.
Original headline: “Liquid restores 1:1 Bitcoin backing, but wallet refills remain manual”
Read the original on CryptoSlate
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.