it's 110% of the incoming amount is that correct ?
Correct. Phoenix is using this strategy to keep their side of the channel at low level. Depending on your inbound amount, I would suggest to open first a bigger channel, let's say, 5M sats.
Spend from that channel but NEVER empty it totally. When you see that still have some few sats, refill it, from another LN wallet. DO NOT refill it using an onchain deposit ! Each onchain deposit into Phoenix it will create a new channel. Use another LN wallet or a swap service (see more examples here)
can i open a new channel using the existing balance ?
There's no need for that. If you just receive small amounts of sats over LN, I would suggest to do what I said before, open a bigger channel and swap out into an onchain wallet/ spend slowly.
Keep in mind, if you use Phoenix to send directly to an onchain wallet, all your balance, they will close the channel, so later you would need to open a new one (more fees). So try to use an external swap, send from Phoenix over LN and receive into your other onchain wallet for holding. In this way you keep open that LN channel, almost forever.
Thanks for the guide Darth, tried Samourai and it was confusingly interesting lol, gonna learn every feature asap
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