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165 sats \ 3 replies \ @supertestnet 22 Sep \ parent \ on: A wallet Ui for your Phoenixd Private Server Design
There is a pretty big feature in phoenixd that Phoenix Wallet currently lacks. In Phoenix Wallet, if you don't have any channels yet or they are all full, and someone tries to send you a small amount, like 5000 sats, the payment will fail because it's not enough to pay for an inbound channel or a "splice in." In phoenixd, the payment will succeed, Acinq just holds the money for you until you have enough to buy a channel with it or do a splice.
I find it interesting that their terms of service try to get around bring treated as a custodian for this service by saying that such payments become "fee credits" which are not actually satoshis, but have the same value, except they are only redeemable for a channel from Acinq or for a splice in. Clever I suppose. It's effectively the same as claiming users are purchasing a gift card redeemable only at Acinq, which is neat because such products have special treatment under the law. You're not considered a money transmitter or a custodian for merely selling credits that are only redeemable for goods and services that you yourself also sell.
If the ability to accept small payments right from the get go matters to you, phoenixd + pwallet is probably better than Phoenix Wallet. Plus you can do the other things you mentioned, like hooking phoenixd up to LNBits and Alby Hub. Phoenixd is simply more versatile than Phoenix Wallet.
The "fee credits" you describe, reminds me of the Hosted Channels. I really liked that method, was perfect to onboard new users, starting from 0 sats.
And OBW was a powerful wallet, really sad that Fiatjaf didn't continue it.
OBW had some very interesting tools, that I tested with many newbies and they were smoothly onboarded:
- user can receive straight away from 1 to 1M sats, directly into a HC, and can choose from 2-3-4 HC providers, with just a click.
- then if the user want more inbound liquidity, could buy a channel straight from 2-3 providers, listed directly into the app, a really simple the process
- then if the user want to have also regular LN channels could just open LN channels with whatever other node and even move his sats from a HC into a regular channel.
- HC could provide also good obfuscation.
Really sad that such a nice project wasn't continued.
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They remind me of hosted channels as well. I suspect it's easy to use ecash mints as a drop in replacement for hosted channels. They too provide decent obfuscation and it would be easy to list 2-4 providers directly in a wallet app. When the user has enough sats to buy a channel you could prompt them to do so and remind them that mints can and sometimes do steal, so it's advisable to avoid trusting them with meaningful amounts of money.
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