It doesnt theorically finalise. But it is still spendable and unrevertable.

So at what point it reaches that?

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It's basically a promisary note as far as I can tell, and am I right in thinking node operators have to put up some funds of their own as collateral to ensure what goes into a channel comes out? Or is that Thorswap?

Honestly, the more I learn about bitcoin the more I realise I don't know.