Muun is pretty much an onchain wallet that operates via submarine swaps. Can’t be called an LN wallet.
Discussion
I see, thanks for the answer and explanation 🐶🐾🫂💕
It’s actually quite complicated and to be honest didn’t dig in that much, but there are heated debates regarding Muun and wether it’s model is “right”. It is convenient for the new user, but can unexpectedly overcharge + it introduces extra tension on the blockchain.
Submarine swaps. I want to know what's happening under the hood of these. I hope it's just not custodial funds being pegged and traded.
Interested in this as well.
Take a look at this high level explanation by #[8] https://thebitcoinmanual.com/articles/btc-submarine-swaps/
or this doc by LN labs: https://docs.lightning.engineering/the-lightning-network/multihop-payments/understanding-submarine-swaps