Also a federation can have multiple lightning gateways. Users select which gateway to use.

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That’s good to know, thanks! So each guardian could run a gateway then? If one went down then the federation would be running fractional reserve until that gateway came back online?

The gateways are separate from guardians. I believe the guardians must approve the gateways for their federation but anyone can run a gateway. The gateways are coded in such a way where the guardians and users never have custodial risk with the gateway.

I've learned a lot about fedimint from this guide: https://fedimint.org/docs/intro