Subnostr

Another #asknostr inquiry:

How does Phoenix Wallet work?

I send them a UTXO and they lock it in a smart contract and enable me LN liquidity on one of their channels? But I hold keys and can withdraw funds on chain at any time? Is it actually a non-custodial model? What am I missing?

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Discussion

BtcPins 2y ago

https://phoenix.acinq.co/faq

BTC_P2P 2y ago

Does Phoenix have an npub?

BtcPins 2y ago

None listed on their site

Guy Swann 2y ago

They just auto open Lightning channels with you. If you don’t have enough liquidity, they splice in more to make the channel bigger. They also push the Lightning payment forward as soon as the new channel is broadcast. So it seems instant either way.

BTC_P2P 2y ago

Thank you ser