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Phoenix will reduce the size of the channel ONLY if you send out to onchain the whole amount.
Always leave 1% of funds.
I suppose, this is the thing. Sending funds to onchain. Jesus, i didn't think of it like that. Thank you, explains a lot.
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I've used Phoenix since before the splicing update and I think I had something like this happen. My memory was that instead of sending sats out to a lightning address, I had somehow accidentally sent sats to an onchain address. And so Phoenix treated it as a splice out of the channel instead of a lightning transaction.
If you sent the 500k out to an onchain address, it will just change the size of your channel. and you would end up with a 500k sat smaller channel and very little inbound liquidity.
The solution is to make sure that when you send out sats to free up inbound liquidity, you do so to a lightning address. If you want the sats to end up in a cold storage or something, use a swap service like Boltz (they generate a lightning address, you send to it, they send the sats to an onchain address).
That's my best guess.