This release changes the fees mechanism used by the application to make it less expensive for smaller payments.
Lowered fees for on-the-fly channel opening and swap-in
The fees have been lowered down to 0.1%. This was made possible because we have:
- Increased the target confirmation for the funding tx from 6 blocks to 144 blocks. Note that this is a trust trade-off: funding tx will take more time to confirm, increasing the window during which we would be able to double spend it. However, note that during that window, you are still able to spend your entire balance with a LN transaction.
- Reduced the additional liquidity allocated on our side from 50% of the received amount to 30%.
Lightning fee retry mechanism
The app has switched from a pessimistic fee estimation to an optimistic one with a retry mechanism. Phoenix will now try to use as low fees as possible (1sat + 0.01%) when sending a payment, and if no route can be found on the network for this price, Phoenix will try again with a slightly increased fees, until reaching a maximum of 5sat + 0.12%.
Note that the given value may change in the future.
Complete list of changes
Verifying signatures
You will need gpg and our release signing key E434ED292E85643A. Note that you can get it:
- from our website: https://acinq.co/pgp/padioupm.asc
- from github user @pm47, a committer on eclair: https://api.github.com/users/pm47/gpg_keys
To import our signing key:
$ gpg --import padioupm.asc
To verify the release file checksums and signatures:
$ gpg -d SHA256SUMS.asc > SHA256SUMS.stripped
$ sha256sum -c SHA256SUMS.stripped