Today, Boltz announced the launch of the Boltz BTCPay Plugin, the first feature of its kind, in open beta. The plugin allows merchants using BTCPay Server to easily accept bitcoin via Lightning before it is automatically exchanged and stored non-custodial on the Liquid network.
The ‘Nodeless’ mode for the Boltz BTCPay plugin uses Liquid swaps to perform the automatic switch from Lightning to Liquid when a Lightning invoice is paid. Using Liquid Swaps, users of the Boltz BTCPay Plugin can also swap bitcoin back to the main chain if desired. The plugin comes with an integrated wallet system, allowing users to create or import both Liquid and mainchain wallets.
“Merchants can receive or accept bitcoin by exchanging incoming Lightning payments into their Liquid wallet and this way they don’t have to operate a node,” Kilian, CEO of Boltz, told Bitcoin Magazine.
“What they ultimately own is LBTC – Liquid BTC,” he added.
“We also want to give them the option to automatically switch back to the main chain if they wish. They can say, ‘Okay, if my Liquid Bitcoin balance reaches 0.1 bitcoin or 0.5 bitcoin, trade it back to the main chain.’
Sellers maintain control of their funds at all times while using the service.
Boltz designed the plugin to alleviate the anxiety associated with running and managing a Lightning node.
“Running and managing a Lightning node is no easy feat,” said Michael, CTO of Boltz, in a press release. “Channel management is complex and inbound liquidity can be such a foreign concept.”
Kilian echoed Michael’s sentiment, when he shared that “as of today, running your own Lightning node is neither a realistic nor a recommended goal for many individuals, and even for professionals like merchants.”
Previous solutions for accepting Lightning payments without running a node were custodial, introduced counterparty risk, or were only available in certain jurisdictions.
Since this plugin is both brand new and the first of its kind, the team at Boltz noted that while the software is ready to use, users should do so with caution as it may still contain bugs. Kilian said that the plugin did indeed handle thousands of transactions and such Stretchedan online marijuana seller, now runs entirely on it.
“After a month of testing the Boltz plugin for thousands of users, I can say this is truly a game-changer,” said Alan, CEO of Strainly, who previously had mixed success using custodial Lightning solutions such as LNBan and other Lightning Service Providers. (LSPs) “Processing LN payments directly to and from a non-custodial Liquid wallet, plus automatically consolidating the Liquid balance to my non-custodial BTC wallet according to my own preset threshold: Hands down the most impactful plug -in that was ever released on BTCPay!”