This article is long and includes the following four sections:
1. How to recharge the assets of BTC Lightning Network on Nostr Protocol platform
2. How to withdraw assets from the BTC Lightning Network on the Nostr Protocol platform
3. How to buy and sell orders on the Nostr protocol platform Infi
4. How to transfer assets from one site to another on the Nostr protocol platform
Creation is not easy. This article was typed word by word by Brother Hashi. It took more than three hours to complete. It will be divided into 4 parts and explained in detail using the mobile phone operation page as an example.
First, let me share two points of knowledge:
1. Composition of the Nostr protocol: public-private key pair
A public-private key pair is a Nostr account.
So have you noticed that when you use any network address, whether it is a big cake or a concubine address, to connect to the Nostr protocol platform, a unique address starting with npub1 will be automatically generated. This is the Nostr account.
Nostr accounts are not based on the traditional username and password system, but use a public key and private key system similar to cryptocurrency. For ease of understanding, you can think of the public key as the username and the private key as the password. It should be noted that once the private key is lost, it cannot be reset like a password. The public key is prefixed with npub1 and the private key is prefixed with nsec1.
2. Nostr derivative agreement: Nostr + Taproot assets
Nostr Assets Protocol is an open source protocol that brings Taproot assets and native Bitcoin payments in Satoshis (Sats) to the Nostr ecosystem, while supporting interaction with other payment protocols including the Lightning Network and Taproot assets.
Once a user introduces assets, they can use Nostr's public and private keys to send and receive them at the Nostr protocol layer. The settlement and security of assets still rely on the Lightning Network. After all, the Nostr asset protocol itself does not issue assets, but only introduces assets to the Nostr asset platform through the protocol.
Nostr Assets uses Nostr messages to control (hosted) wallets, helping users to better perform basic functions such as transfers/transactions. It is built on Nostr's technology, but it is a completely different protocol from Nostr.
Nostr Assets Protocol's fully managed service means that users deposit their Bitcoin or other assets into a wallet controlled by Nostr Assets Protocol, and then send instructions through Nostr messages to deploy, mint and transfer tokens.
Part 1: How to recharge BTC Lightning Network assets on the Nostr Protocol platform on your mobile phone?
1. Let’s take the Lnfi official website as an example for operation demonstration: https://mainnet.lnfi.network and link your personal OKX wallet address. The platform will generate a unique corresponding npub1-starting address under the Nostr network protocol, as shown in the figure below. Click Deposit, which means deposit in Chinese.
2. After clicking Deposit, the system will display the following page
3. On the page that appears, pay attention to the information verification. The mobile terminal will default to the information. You only need to verify the following information:
1. Select Lightning as the network
2. The address is your Nostr protocol address (starting with npub1)
3. Choose the currency to top up, now it is SATS (Note: the smallest unit of BTC is Sat, 1BTC = 100 million Sat = 100 million Sat, the value of 1 Sat is not fixed, it is anchored to the value of Bitcoin, it is always only 1/100 million of the value of Bitcoin, it just divides Bitcoin into smaller pieces for easier trading, it is not SATS on BRC-20)
4. Enter the amount, 1 BTC = 100000000 SATS. You can convert it according to your needs. When you enter a certain number of sats, the corresponding amount of PIX will be automatically converted below.
5. Click Create Invoice
4. Then the wallet will pop up, we can authorize it, and after the authorization is completed, the invoice will be created, as shown below: When recharging, I randomly entered the amount of 100,000 sats, and the value displayed below is 0.001 pie. Remember: think about the recharge amount in advance, and enter the number of sats you want to recharge.
A QR code and text starting with "lnbc1" are generated here. We copy this text content.
5. Now go to the exchange and select BTC withdrawal on the chain. Select "Lightning Network" for the network. In "Address/Bill", you can paste the text starting with "lnbc1" you just copied, or click Scan to scan the generated QR code:
On this page, we can find that the withdrawal amount depends on the sats you just entered on the Lnfi platform. I just chose to recharge 100,000 sats on the Lnfi platform, which is equal to 0.001 bitcoin. After I copied this note text to the binance exchange, the platform here will automatically generate a withdrawal of 0.001 bitcoin, without manually filling in the withdrawal amount.
After the payment is completed, wait a moment and you can see the balance you recharged on the Lnfi homepage.
Part 2: How to withdraw BTC assets on the Lightning Network?
1. First, go to the Binance exchange and select the Bitcoin Lightning Network address to withdraw. Enter the amount of Bitcoin you want to withdraw. A bill number will be generated as shown below. Remember to copy it.
2. Open the Lnfi official website: https://mainnet.lnfi.network and link your personal wallet, then click “Withdraw” as shown below:
3. Paste the bill number you just copied from the exchange under Invoice, and click "Withdraw" to withdraw Bitcoin to your personal address on the exchange.
According to the above summary:
On the page that appears on the Lnfi platform:
1. The system network defaults to Lightning and no processing is required.
2. On the mobile phone, the system will default to the nostr protocol# address you linked as the sending address, no need to process (starting with npub1)
3. Select the currency you want to withdraw, such as SATS (the smallest unit of BTC, not BRC-20 SATS)
4. Enter the copied ticket number
It is important to note that the process of creating a note on the Binance exchange is as follows:
5. Open the exchange: Binance / OKX, select Deposit
6. Select BTC and select Lightning Network
7. Enter the amount you want to recharge and click "Create Ticket"
8. Copy the ticket and paste it into Lnfi.
After owning assets on the platform, how to place buy and sell orders?
1. Once you have assets on the platform, how do you place buy and sell orders? On the mobile phone, open the three bars in the upper left corner of the homepage. After clicking, it is basically the same as the page on the computer.
Take the computer page as an example, open the Lnfi official website: https://mainnet.lnfi.network and link the wallet, move the mouse to "Trade", and click "P2P" in the menu that appears, as shown below:
2. For all functions in the following pages, please refer to the figure below
Part 4: How to transfer assets from one address to another on the platform?
1. As shown in the figure below, click "Transfer". Note that off-site point-to-point transfer does not require any gas
2. The platform will default to sats. You can choose different assets to transfer, such as hamburger.
3. For example, after selecting a hamburger, fill in the address and quantity to be transferred, and click "Transfer"
All content in this article is original and is for reference only. It does not constitute any investment advice.