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The funding transaction for a channel in my Phoenix wallet has remained unconfirmed for over a month due to a low fee. The fees were fluctuating significantly when the funding channel was opened, and they haven't returned to that level since. Interestingly, I encountered the same problem on another Phoenix wallet, but I was able to resolve it by bumping the fee through an option on the transaction page within the app. Unfortunately, this option seems to be unavailable in the app with the unconfirmed transaction.
Is this something to be concerned about? How can I bump the fee for this particular transaction. Will sending funds higher than the current inbound liquidity trigger a splicing and help confirm the transaction via child pays for parent or a new funding transaction?
Any insights or guidance would be greatly appreciated.
What wallet did you use to send the payment into Pheonix?
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I utilized an atomic swap service that facilitates the transition from Liquid to Lightning. However, the funds do not directly reach my wallet. Instead, they are routed through Phoenix's services, who then creates the necessary funding transaction and channels. Thus, I suspect, it is that Phoenix has the capability to expedite the transaction.
Upon further exploration, I believe that splicing will trigger the creation of a new funding transaction, which might cause either a new channel to be created or a new funding transaction for the current channel.
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If it is CPFP, the question is whether the new fee would be enough to encompass both transactions to get them confirmed. But if it's a new channel / funding transaction. , maybe it doesn't matter.
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You'd have to bump the fee from the sending wallet.
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