Libre Lightning Provider
Libre
Libre uses the concept of Libre Lightning Providers (LLPs) to pay and receive BTC. Each of these Lightning Service providers runs its own Lightning node, and has an address on the Libre network where it can send and receive pegged Bitcoin (PBTC). See also Bitcoin Lightning Network
For those who have not set up a Lightning node before, we will soon have an easy method for you to set up your own node and connect to Libre.
At this time, the best way to earn fees as an LLP is to just peer with our existing nodes. Soon, we will be looking to expand this through partnerships and opening up our Lightning txs to a market of nodes.
To become an LLP is a permission-less process - just peer with one of our LND nodes and keep your channels balanced:
03e036c7da199f4dd1f2ea0eaedf2ba6142850553671cdc7d502ec382173ba939603a84351bb64b77d1bc69ca69fe8fd2a8a14bc4f8e10373e8e3d735e614420ffa1
You can run your own Lightning node like a pro in 16 steps.
- 1.Initialize the node
- 2.Deposit some BTC into your node
- 3.Backup the seed phrase - SOMEWHERE SAFE OR YOU WILL LOSE YOUR BTC
- 4.
- 5.
- 6.Backup the channels
- 7.
- 8.Get the recommended nodes to connect to
- 9.Create a txt with the pub keys of the nodes amounts to open to - recommend doing 1000000 SATS min and 15000000 max
- 10.Add the Libre nodes to your list:
03e036c7da199f4dd1f2ea0eaedf2ba6142850553671cdc7d502ec382173ba9396--amount 100000003a84351bb64b77d1bc69ca69fe8fd2a8a14bc4f8e10373e8e3d735e614420ffa1--amount 1000000 - 11.
- 12.Do a
bos openand feed in that list of channels - 13.Backup the channels
- 14.Now, set the fee rate on your channels - you can use a tool like Suez https://github.com/prusnak/suez - generally, I would recommend starting with 1000 msats and seeing if you get any tx in the first day
- 15.Check your tx history for forwards and fees earned daily - adjust fees to be higher where you have less outbound capacity
- 16.Use
bos rebalanceto keep your channels balanced
Last modified 10mo ago