LN Node User Guide
User guide for creating your LN Node and LN Channel
Users who hold LN Node OG series $NODE1 can create LN Node. Note: $NODE1 will be used as the creation fee.
For user guide in Mandarin, please refer to [NODE1 εε»Ίζη¨γ ContributorοΌ$NOSTR Community
Create your Lightning Node in 3 simple steps
Node Management Made Easy
Important note: Please factor in the need for gas fees for the following operations: i) Funding ii) Withdraw iii) Create Channel iv) Close Channel This implies that you need to deposit additional funds to cover the intended amount, taking into account gas fees.
CREATE YOUR LN NODE
STEP 1: CREATE LN NODE
Access LN Node on the main menu.
Tap on [Create Node] to create your first LN Node
Enter a name for your LN Node. Enter an email for notification (optional).
You will need to pay the Node Creation Fee. (In SATS, $TRICK or $TREAT)
For $NODE1 owners, you may use $NODE1 for the Node Creation Fee
Tap on [Approve] to make payment and then [Create Node] to complete the steps.
STEP 2: ACTIVATE LN NODE
Set a password for your LN Node.
Confirm your password and you will be provided with your Seed Phrase. Note them down and keep both your password and seed phrase safe.
NEVER SHARE your password or seed phrase with anyone. Your assets may be compromised if someone knows your password or seed phrase.
The status will change to [Unlocking]. Synchronization unlocking may require some time. (Depends on internet connection & Bitcoin network conditions)
You can use the refresh button to check the status has been updated.
Your LN Node is LIVE when the status has changed to [Running]
NODE MANAGEMENT
FUNDING
To deposit Bitcoin to your LN Node Wallet, tap on [Funding].
Use a Bitcoin-supported wallet or platform to fund your LN Node Wallet. Your funds will be self-custodied in your LN Node, and only you have access to the private key.
Minimum channel capacity: 1,000,000 sats (0.01 BTC) Maximum channel capacity: 10,000,000 sats (0.1 BTC) We recommend depositing at least 0.012 BTC ~ 0.102 BTC to account for network fees.
Copy the BTC Deposit Address and paste it in the Wallet you are sending the funds from.
Funding deposits to your LN Node will be recorded under Explorer > Funding Records > Receive
CREATE CHANNEL
To create a channel, tap on [Create Channel]
Specify the amount you would like to use to provide liquidity to the channel. You may toggle between BTC or SATS.
Minimum channel capacity: 1,000,000 sats (0.01 BTC) Maximum channel capacity: 10,000,000 sats (0.1 BTC)
Make sure to set the appropriate network fees.
Channel creation can remain indefinitely in pending status if the network fees are set below the recommended amount. This could result in your funds becoming inaccessible due to the pending status.
Tap on [Create Channel], to start creating.
Creating a Channel is an on-chain operation and requires syncing. Syncing time depends on the internet connection and the Bitcoin network conditions.
The Channel status will change from [Pending] to [Created].
FUND TRANSFER BETWEEN YOUR NODE & LNFI'S NODE
You may deposit assets from your LN Node to Lnfi.
In a future development phase of LN Node, this will enable you to perform transactions or trading in a self-custodial manner.
To deposit to Lnfi, tap on [Deposit to Lnfi].
Enter the deposit amount and tap on [Create invoice to deposit].
Once the invoice has been created, tap on [Deposit] to complete the operation.
To withdraw from Lnfi, tap on [Withdraw from Lnfi]
Enter the withdraw amount and tap on [Create invoice to withdraw]
Some of the balance is reserved for Commit Fee and Channel Reserve.
Hence, the amount you can withdraw from Lnfi back to your local balance will be lesser. These Reserve Fees will be returned when Channel is closed.
Tap on the [Withdraw] to complete the operation.
You may need to wait a few moments and tap the refresh button for the channel capacity to be updated.
CLOSE CHANNEL
If you no longer require a channel, you can tap on [Close Channel].
Upon closing a channel, the channel's assets (net of network fees) will be refunded to your LN Node wallet by default. Alternatively, you can specify a receiving address.
WITHDRAW
To withdraw, use [Withdraw].
Withdraw to BTC Address: Copy and paste your designated receiving BTC wallet address.
Withdraw Amount: Input the withdrawal amount. Fee: As this is an on-chain operation, select the amount of sat/vB (satoshi per byte) you are willing to pay, or use custom.
After you have input the required fields, select [Withdraw] and complete the transaction.
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