I don't think this scales well. Does PoW merge mining add anything for a federated system? Seems like Fedimint could accomplish a lot of these things with the right modules if you're federating. Tx costs would be way lower too and you don't need miner coordination. Maybe I'm missing something. Probably should go dig into the code. 

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Key Features Designed for the Bitcoin Community:
Bitcoin-Pegged Native Asset (cBTC): Users can transact in cBTC, redeemable 1:1 for Bitcoin, offering familiar Bitcoin value and reliability while enhancing flexibility.
‍Compatibility with the Lightning Network: Build Lightning apps with less complex channel logistics and swap directly to Bitcoin.
‍Hybrid Consensus: By combining Bitcoin’s Proof-of-Work and a Strong Federation model, Coordinate ensures reorg-resistant transactions, providing users with enhanced security and stability.
‍Premium Transacting: Coordinate offers MEV-resistant transacting with a reverse auction fee market and finality in about one minute. Premium users avoid fee bumps and overpaying.
‍UTXO Asset Tokenization: Coordinate users can tokenize digital assets using Bitcoin’s UTXO model, opening new opportunities in decentralized finance.
‍Blob Storage for Data-Intensive Applications: Users and developers can leverage expanded block space for data storage, addressing the needs of applications that require additional capacity.
"Part of the goal behind Anduro is to achieve the Drivechain vision without any soft forks. Coordinate is a great example of what else can be done with Bitcoin when you don’t have to worry about impacting the L1 Bitcoin network”

https://www.anduro.io/blog/introducing-coordinate