PA News December 12th – According to The Block, Bitcoin rewards app Lolli has now enabled withdrawals on the Bitcoin Lightning Network after integrating with Spark. This move may help address complaints raised by some users since Lolli was acquired by Thesis in July. Spark is an open-source Bitcoin Layer 2 protocol developed by Lightspark, enabling instant, low-cost, self-custodied transactions of Bitcoin and Bitcoin-based assets, fully compatible with the Lightning Network. Both companies stated that Spark’s Software Development Kit (SDK) will provide Lightning Network withdrawal support for Bitcoin rewards held on the Lolli platform.
The acquisition of Lolli by Thesis has faced criticism from some users. Shortly after the acquisition announcement, Lolli paused all Bitcoin reward transfers and withdrawals to migrate its backend infrastructure to Thesis, which upset some users. Additionally, before enabling on-chain Bitcoin or Lightning Network transfers, Thesis integrated its Mezo Bitcoin scaling and programmable layer—compatible with the Ethereum Virtual Machine (EVM)—into Lolli, further angering certain users.
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The Bitcoin reward app Lolli now supports withdrawals on the Lightning Network
PA News December 12th – According to The Block, Bitcoin rewards app Lolli has now enabled withdrawals on the Bitcoin Lightning Network after integrating with Spark. This move may help address complaints raised by some users since Lolli was acquired by Thesis in July. Spark is an open-source Bitcoin Layer 2 protocol developed by Lightspark, enabling instant, low-cost, self-custodied transactions of Bitcoin and Bitcoin-based assets, fully compatible with the Lightning Network. Both companies stated that Spark’s Software Development Kit (SDK) will provide Lightning Network withdrawal support for Bitcoin rewards held on the Lolli platform.
The acquisition of Lolli by Thesis has faced criticism from some users. Shortly after the acquisition announcement, Lolli paused all Bitcoin reward transfers and withdrawals to migrate its backend infrastructure to Thesis, which upset some users. Additionally, before enabling on-chain Bitcoin or Lightning Network transfers, Thesis integrated its Mezo Bitcoin scaling and programmable layer—compatible with the Ethereum Virtual Machine (EVM)—into Lolli, further angering certain users.