it's an entire side chain though, so idk about custodial -

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Lightning? It's 99% custodial.

the sats never touch the mainet chain until the channel is closed off.

So you're just carrying the sats around until it closes. I still wonder if it's a 1:1 in out or if there's more sats, or ghost 'sats' in the system.

Still waiting to hear what happens to the sats when a channel is force closed