Maple AI estimate of Total global sovereign issuance 10y gov bonds:
Including (OECD + emerging markets) is likely in the $18–$22 trillion per year range recently.
The 10-year tenor is typically one of the most liquid benchmark maturities. If it represents roughly 15–25% of total sovereign issuance by volume (a rough industry heuristic, not a hard statistic), that would imply:
~$2.5–$5 trillion per year globally for 10-year government bonds
~$200–$450 billion per month on average
Everyone who "works in bitcoin" will have to eventually (soonish?) do something else.
Work (literally do anything productive)
Stack Sats.
Self custody.
Win.
Submarine Swaps
🔥🔥🔥
Example — Loop In (you need to receive more):
You have on-chain bitcoin but your Lightning channel is full on your side. You and a swap service agree on a secret hash H (you know the preimage R).
You lock on-chain BTC in an HTLC: “pay the service if they show R by block X, otherwise refund me.”
The service routes a Lightning payment to you locked by the same hash H. To claim that Lightning payment, you reveal R.
The service sees R and claims your on-chain BTC.
Result: You gained inbound Lightning liquidity; the service got your on-chain BTC (minus fees). If anything fails, the timeouts ensure everyone gets their funds back — no one can steal.
In Short
Submarine swaps are a trustless bridge between on-chain and Lightning bitcoin. They let you buy inbound liquidity or cash out to on-chain without closing your channels, using the same atomic HTLC logic that makes Lightning itself secure.