10101 is a self-custodial trading app that utilizes Discreet Log Contracts (DLCs) to facilitate Bitcoin transactions without counterparty risk. By enabling users to trade directly from their wallets, the platform eliminates the need for accounts and enhances security through cryptographic guarantees.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional cryptocurrency trading often involves counterparty risk, requiring users to trust centralized exchanges or other intermediaries with their assets. This introduces potential vulnerabilities such as exchange hacks, fraud, or regulatory issues that can lead to loss of funds.
Solution
10101 is a self-custodial Bitcoin trading application that leverages Discreet Log Contracts (DLCs) to enable trustless, peer-to-peer trading. By utilizing DLCs, the platform eliminates the need for a central authority, allowing users to trade directly from their own wallets without relinquishing control of their private keys. Trades are cryptographically secured, ensuring that execution occurs as agreed upon in the contract, mitigating counterparty risk. The application supports both on-chain and off-chain Bitcoin transactions, providing flexibility and efficiency in managing positions.
Target Audience
The primary target audience includes Bitcoin users seeking a secure, self-custodial trading platform, as well as those interested in decentralized finance (DeFi) solutions built on Bitcoin.
Features
- Self-custodial wallet ensuring users maintain control of their Bitcoin
- Trading powered by Discreet Log Contracts (DLCs) for trustless execution
- Accountless access, allowing users to transact without registration
- On-chain and Layer 2 (Lightning Network) wallet support
- Real-time notifications for trading-related events
- Open-source codebase for transparency and community contributions