Changing the LSP + Lightning address address FAQ?

[AttaInsularis]

It took me a while (in contrast to rest of the LN wallets - Phoenix, WoS..) to find out how to set up the LN address as helping with this to few folks.

So would like to share what are, I think, a common pitfalls for such process as it's from multiple attempts.

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1. when user have already some utxo:

the max Channel size: is 1.5mil sats in this case, but it's not that much clear to me, it's really a maximum and can't be bigger.

Better info is really with emphasis on the maximum - because one can avoid having small leftover that cannot fit in channel as change.

That is also because there is seems to me the knowledge 'bigger = better' so it's rather uncommon having a cap for it.

Initially I understood this as recommendation rather the min-max.

Why the cap?

2. Channel lifetime:

Variable. - well is there any min-max for the variation?

We reserve the right to close your channel at any point.

Zeus is the master, do agree, but in general what could be the cause and also why at all?

What kind of close it is, is it cooperative, or force? Asking because of the fees for example.

Channels with large balances pushed to our side, are more likely to be closed. - naturally if one would like to use it for receiving, there must be available inbound.

But this push the balance to the other side - is there a necessity for periodic lowering of inbound in order to have more on user side?

But that creating repeatedly a state with possibility of being unable to receive successfully larger payments.

None understood this really, what should and shouldn't be done.

3. there are basically two ways how to have the LN address.

a) opening LN channel with Zeus LSP - either JIT or In advance
b) by opening channel to the Zeus LSP below 1.5m sats

But to make it usable in case b), user must start with sending out amount at least as big as:

Local reserve + the amount he would like to receive (do I have it right?). And that is to me not that obvious.

Because when channel opened there is 1/2 bar to be seen in contrast to rest of the channels (or if only one, to the width of the screen).

And that look like there is a lot of inbound.
Especially for someone not keen about the details of channel available, where it can be seen.

Why is it shown with the bar 1/2 of the length comparing the normal channel (a channel not opened to the Zeus LSP)?

Also first move for many to test LN address is sending out few K sats if they do figure out that maybe the 1/2 bar is not inbound.
As that should create inbound and because it may be even less than the Local reserve it fail because no real inbound is created.

With info in Zeus 'no path found to the node'.

Took me a while to realize where could be the problem.

I think people are about to test with low amounts (no wonder) naturally.

Also there is Warning bar - what does that relate to? Is it for 'Channel lifetime' or?

Possibly yes, reading the docs:

upgrade channels you've opened to the LSP node with on-chain funds, to guarantee the lifetime of the channel and benefit from lower routing fees. - well guarantee, but still, see above, no clear rules.

Why the Max and 12 mo have the same block count?

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As I'm not that skilled nor have all the knowledge (and possibly missing some things happening to users when I'm not around to see it at the time), it's just my observation the FAQ is not useful as much as it could be.

The answers, to those question, should be there.

So sharing it here - as best effort to describe what is unclear.

[kaloudis]

Appreciate the feedback here. Will try to answer questions to the best of my ability here. Feel free to add follow up questions.

RE: limits on channels opened to ZEUS with on-chain funds:

When users open channels to ZEUS and push balance to our side of the channel, they are effectively locking up our working capital. We are considering removing this as an option and moving everything to paid channels. Users with only on-chain funds will be able to onboard into paid channels with UTXOs with swaps or on-chain payment options (+ potentially the ability to choose how much funds to start w pushed to your side of the channel)

RE: why is 1/2 bar to be seen in contrast to rest of the channels?

The largest channel in your channels list will take the full width the list and the other channels will be scaled proportionate to it. This allows you to scroll your channel list and see how your capacity are distributed proportionately

RE: the warning bar

This is for channel opened with on-chain funds. Upon going to the single channel view a disclaimer claiming the channel 'May be closed at LSP's discretion' is displayed. From there the user can upgrade to paid channel with a small payment

RE: Why the Max and 12 mo have the same block count?

The new max lifetime of LSP channels has been upgrade to 12 months. Min is 2 weeks. Docs have been updated appropriately.

Other notes:

Lightning address docs should be updated before v0.11.0 releases. In the new release there are two new address types including a Cashu ecash address that does not have the same liquidity restraints as the current default Zaplocker address, and a third Nostr Wallet Connect address designed for remote nodes.