#1 Welcome to 10101
10101 a numeral palindrome and the binary representation of 21, hinting towards the 21 million possible bitcoin.
With ItchySats we brought noncustodial CFD trading successfully to bitcoin. But we have seen some limitations in scaling ItchySats to new users.
With 10101 we continue the journey of ItchySats and as always go a step further.
10101 — One app, all things Bitcoin
10101 is a noncustodial on-chain and Lightning wallet for the phone.
It has all the bells and whistles a good Bitcoin wallet needs with an extra level of pizzazz.
Fully Fledged Wallet: You can pay on-chain or off-chain to anyone on the Lightning Network, and you can receive on-chain payments or payments from anyone on the Lightning Network.
Trading: It allows you to trade CFDs, options and other derivatives secured by Bitcoin.
Stable Coins: It allows you to hedge into a stable USD position.
We are doing all this while applying the 2 rules of Bitcoin:
Rule 1: Not your keys, not your coins
The wallet in 10101 is fully noncustodial. This means, you have the power and the responsibility to manage your own funds. This is valid for your on-chain wallet as well as your Lightning wallet.
Rule 2: Not your keys, not your coins
For trading we follow the same rule: At no point in time will you have to trust the counterparty of your trade with your funds. To achieve this we are making use of DLCs (Discreet Log Contracts).
What does this mean for ItchySats users?
We are grateful for our users and we will not abandon ItchySats.
10101 focuses on mobile first, but self sovereignty is very important to us, and it is part of the roadmap to bring 10101 to the self-sovereign Bitcoin node community.
Until then ItchySats will remain operational and maintained. It will eventually become an essential part of the 10101 product.
Where are we going with 10101?
With 10101 we are opening noncustodial CFD trading to a larger set of users being mobile and on Lightning. It’s your one-stop for your noncustodial Bitcoin products.
Join our journey and become one of the first to give the 10101 app a try: Join the waiting list for beta-testers!
If you have any questions our Telegram group is the easiest way to get in contact with us!
All feedback welcome!
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Philipp and Itchy, Scratchy and the whole team