I really like nano being feeless using block-lattice.
However, I think the volatility of its price will continue to plague n prevent nano from becoming a currency for daily use.
The feature of feeless however is the solution to the problem faced in a lot of applications such as defi.
I’ve been thinking all day, there could be a way to combine things including block lattice to solve the problem, i.e. have a feeless medium of exchange between any currency, be it crypto or fiat.
For it to be feasible, it needs to have a stable value. The only way I can thought of is to peg the value of this block lattice token to satoshi, because bitcoin which is truly scarce might be the reference of value exchange in future, just like usd now. To peg it to sat, we can rebase it’s total supply so that the value hold in an account is not measure by how many tokens you have but the % of token over total supply. Keeping it constant to sat equivalent value.
The initial supply of this block lattice token may be generated by monitoring the balance in a smart contract address or a bitcoin address that cannot be accessed by anyone anymore, or a reversible one that is controlled by code.
The block lattice token generated can be sent to an account dynamically created n controllable only by the erc20/bitcoin sender. As these tokens can be transferred within block lattice accounts without any fee, as long as there’s liquidity of this coin with as many pair of crypto or fiat out there, there will be a path to covert any token from A to B by exchanging it to this block lattice token n back in a feeless manner.
So to convert A to B will be from A to X, then X to B. Peg X to sat by rebase method so that A to B will be the same value as A to X then X to B, regardless of how long it takes.
Will this works?