teemupleb on Nostr: Phoenix Wallet is a self-custodial Lightning Network wallet that runs a Lightning ...

Phoenix Wallet is a self-custodial Lightning Network wallet that runs a Lightning node on a phone, solving complexities of managing channels.

Unlike on-chain #Bitcoin self-custody, Lightning requires node management and inbound liquidity for receiving.

Lightning Service Providers like ACINQ (the company behind Phoenix) help users by opening channels.

Phoenix recently introduced "splicing”, which allows adding or removing funds to a Lightning channel without closing it.

Splicing gives a Phoenix user a dynamic single channel for Lightning and on-chain BTC, and makes fees more reliable.

Users pay one-time and miner fees for channel openings.

Splicing BTC onto Lightning is trustless and seamless.

Phoenix is open-source, and you can always force-close your channel and recover your funds to your self-custodial on-chain address using your private key.

Phoenix is privacy-focused and is planning self-custodial static Lightning addresses and BOLT12 implementation in the future .

Overall, Phoenix is a user-friendly self-custodial Lightning wallet for already somewhat technical Bitcoiners.