What appears on Bitcoin: - A standard Bitcoin transaction BTC sent to a federation-controlled multisig address - Often includes a small metadata commitment (via OP_RETURN) referencing the peg-in claim on Liquid. What it proves: - BTC has been locked on Bitcoin A corresponding amount of L-BTC is issued on Liquid. What is not stored on Bitcoin: - Liquid transaction details - Liquid addresses - Confidential amounts or assets on Liquid Is this okay with you then or no? The issue could be the opreturn for peg-ins, which is typically ~36–40 bytes.