pull down to refresh
17 sats \ 9 replies \ @DarthCoin 2h \ parent \ on: How viable is Zeus Wallet for self-custody swaps (embedded node)? lightning
https://docs.zeusln.app/lsp/channel-differences
Yea OP seems like an obvious candidate for option 1.
reply
I would not do that. Better purchase in advance, especially if you already have a LN wallet with some sats in it.
Or you can even receive first, from the exchange, into Zeus cashu wallet (no channels needed) and then pay from there the lease for the LSP channel, with the size of the channel that fits your needs for multiple withdrawals.
JiT channels are not for this case.
Channels in advance are the best option.
reply
That's just unnecessary extra steps, are you referring to the routing fee discount on the pre-paid channel? I think its only discounted from the up-front fee they charge for the lease.
reply
That's just unnecessary extra steps,
Same as for sending from onchain.
But if you already have another LN wallet, you pay from that one the lease of the channel.
Is better this option for OP, because he need that channel to stay open a determined period. And that is guaranteed only by the LSP channels in advance, not for channels initiated with users funds.
Routing fees are irrelevant in this case.
I think OP did the mistake to use JiT channels only, and that's why had the impression that is using splicing... when in fact it was opening multiple tiny channels with a huge cost and unnecessary friction.
JiT channels are NOT viable for this scenario.
reply
Sounds like he can already send from Lightning from the exchange so could buy the pre-paid channel with that. I don't think closure will be an issue since he's DCA re-filling the channel regularly.
Pre-paid could make sense given that if the routing discount offsets the lease costs, main thing is to avoid trashu or JIT channels.
reply
I would avoid using the exchange withdrawal for any direct payment. If something goes wrong, you cannot manage it properly because you are not in control of any of the parts (sender and receiver) and even lose funds..
Better use a buffer zone. As I always said: use the 3 levels of stash - hold, cache, spending.
reply
It's an outbound from the exchange either way in this case since that's where he dumps fiat, direct to Olympus for the pre-paid channel is one less failure point vs. an intermediate/custodial wallet to do the same. In this case Zeus is the cache/mixer to obfuscate his cold utxo's from the exchange
reply
I think we need to explain more to the new users, these types of scenarios and which type of channels should be used. In all wallets documentation (your Shock Wallet really need it).
Most of the issues with LN liquidity comes from lack of knowledge about how to use these channels and users just assume that is about send/receive and just it. But is not.
See? for us is quite easy to talk about these scenarios, but many new users have no idea what is JIT, LSP, 0-conf etc.
I wrote several guides with these scenarios, but I think these kind of guides should be also on the wallet apps pages, FAQ etc. so new users could find them easily. I know... people do not like to read FAQ and documentation page, but in Bitcoinlandia is a must.