OpenSecret's avatar
OpenSecret OpenSecret@primal.net 2 years ago
A much needed release is underway! The fee for channel opens is now dynamic based upon the current fee rate estimates. Previously it was hardcoded and needed to be updated manually when we had huge price fluctuations, but now it'll always be based on current chain fees. image Right now it's about 15k sats. A huge drop from the 40k the LSP previously set it to. Get your channels while they are hot! We also do web caching for the PWA version and will notify you when a new version is available. This gives you a chance to decide to upgrade later or refresh immediately to apply the new change. image We have much more changes later this month but let us know what you think of these! πŸ™

Replies (32)

GameBoyBTC's avatar
GameBoyBTC gameboybtc@getalby.com 2 years ago
Thanks for The Zap βš‘πŸ‘Ύ If 100,000 sats are sent, will the open rates (which are now dynamic) be deducted from that amount? And is the channel to be opened the same size or larger than what was initially sent? image
1 replies ↓
OpenSecret's avatar
OpenSecret OpenSecret@primal.net 2 years ago
Yes, it'll come out of what you receive when that invoice is paid. For 100k and 15k sat fee: The invoice is for 100k. You receive 85k, a channel will open for about 200k (you get extra inbound potential with no setup fee).
1 replies ↓
GameBoyBTC's avatar
GameBoyBTC gameboybtc@getalby.com 2 years ago
Ok, it's clear how it would be. I will try on Sunday morning when the fees of the chain may drop a little more and take advantage that now are dynamic 🀭
boston wine's avatar
boston wine win@nostrplebs.com 2 years ago
Got it. So it’d be more efficient fo send into mutiny via Lightning, because sending from on-chain would incur 2 fees - one from spending wallet, and another within mutiny to open the channel?
Bayer's avatar
Bayer Bayer@primal.net 2 years ago
the dynamic fee rate worked wonders over the last couple days. from 30k to 7k sats, patience wins.
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