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Yeah, as you said it creates one channel with acinq that it keeps updating (using "splicing"). The fees are currently following
OperationFees
Sending via Lightning0.4 % + 4 sat
Sending on-chainmining fees (user-chosen)
Receiving via Lightning0 (no fees)
Receiving via Lightning with insufficient liquidity1% + mining fees
Requesting liquidity1% + mining fees
Receiving on-chainmining fees
Channel creation1000 sat