Liquid is a Bitcoin sidechain that enables additional functionality for Bitcoin users, including enhanced confidentiality, faster block times, and new smart contracts. One of the most popular use cases of Liquid is tokenization, which allows alternative assets, such as tokenized securities, to be transferred between users in a Bitcoin-like manner. An example of such a Liquid-based asset is Tether (USDT), which is a stablecoin pegged to the U.S. dollar.
Note: LBTC is the Bitcoin-pegged base currency on Liquid. You will need LBTC to pay transaction fees when sending an asset via Liquid. There are a variety of ways to obtain LBTC in a manner similar to obtaining bitcoin.
Receiving Liquid assets
1.
To receive a Liquid asset from someone else, navigate to the Transact tab and tap Receive.
2.
The Receive page displays Bitcoin by default. You can change the type of receiving address in the Asset field near the top of the screen. Tap where it already says Bitcoin to bring up the Select Asset page. Here you can pick a specific Liquid asset to receive, or simply select Receive any Liquid Asset.
3.
Once you've selected the type of asset you'd like to receive, you can display the resulting QR code to the sender or copy the address to share it with the sender. A QR code image can also be shared with the sender after clicking the Share button at the bottom of the screen.
Sending Liquid assets
1.
To send a Liquid asset, navigate to the Transact tab and tap Send.
2.
Enter the Liquid address that you want to send a Liquid asset to. Alternatively, you can tap Scan QR code to scan a QR code displayed by the recipient's wallet. Tap Next after entering the address.
3.
On the next screen, select the specific Liquid asset you would like to send. Then, select the amount of the token you would like to send.
4.
Finally, slide the arrow near the bottom of the screen on the next page to send the selected asset. After sending the transaction, the Blockstream app will show you a message indicating the transaction was successful.