流動性管理

流動性類型：

通道容量: 1,000,000 sats

出站流動性 (Outbound) = 本地餘額
入站流動性 (Inbound) = 遠端餘額

Method: Ask others to open channel to you

Free methods:
• Join Lightning Network community
• Provide valuable node (good connectivity)
• Participate in liquidity swap groups

Paid methods:
• Liquidity markets (Magma, Pool, Amboss)
• LSP (Lightning Service Provider)
• Channel rental services

LSP (Lightning Service Provider):

Services:
• Auto-open inbound channels
• On-demand liquidity (JIT channels)
• Liquidity management

Common LSPs:
• ACINQ (Phoenix)
• Breez
• Voltage
• Zero Fee Routing

JIT (Just-In-Time) Channels:
1. Receive payment request
2. LSP opens channel instantly
3. Channel fee deducted from payment
4. User doesn't wait for confirmation

Liquidity Market Platforms:

Lightning Pool (Lightning Labs):
• Auction model
• Buy/rent channels
• APY billing

Magma (Amboss):
• P2P liquidity market
• Fixed price or auction
• Reputation system

Pricing Factors:
• Channel size
• Rental period
• Peer node quality
• Market supply/demand

Circular Rebalance Principle:

Goal: Move funds from channel A to channel B

Your Node --- ChannelA --- Node1
    |                        |
    |                        |
ChannelB                     |
    |                        |
    +---- Node2 -------------+

Steps:
1. Send to yourself via channel B
2. Route through Node2 -> Node1
3. Return from channel A to yourself

Result:
• Channel A local balance decreases
• Channel B local balance increases
• Pay routing fees

Tools:
• lncli: bos rebalance
• Core Lightning: rebalance plugin
• RTL, ThunderHub and other GUIs

Submarine Swap:

Loop Out (increase inbound):
Lightning -> On-chain
1. Send Lightning payment to swap service
2. Service sends on-chain BTC to you
3. Your outbound liquidity becomes inbound

Loop In (increase outbound):
On-chain -> Lightning
1. Send on-chain BTC to swap service
2. Service sends Lightning payment to you
3. You get more outbound liquidity

Service Providers:
• Loop (Lightning Labs)
• Boltz
• Deezy

Splice-In (increase capacity):
1. Add more funds to existing channel
2. Create new funding tx
3. Channel continues operating, no interruption

Original: 1 BTC -> New: 2 BTC

Splice-Out (decrease capacity):
1. Extract partial funds from channel
2. Funds sent to on-chain address
3. Channel capacity reduced but continues

Original: 2 BTC -> New: 1.5 BTC + 0.5 BTC on-chain

Advantages:
• No need to close/reopen channel
• Save on-chain fees
• Maintain payment routing continuity

Status: Core Lightning supported, LND in development

Routing Node Liquidity Strategy:

1. Dynamic Fees
   • Raise fees for low liquidity direction
   • Lower fees for high liquidity direction
   • Auto-guide traffic balance

2. Channel Selection
   • Choose high-traffic peers
   • Avoid dead-end nodes
   • Establish triangular connections

3. Rebalance Timing
   • Set thresholds (e.g. 20%-80%)
   • Auto-rebalance below threshold
   • Consider fee cost-effectiveness

4. Monitoring Tools
   • Track traffic per channel
   • Identify bottleneck channels
   • Analyze profit margins

Liquidity Cost Calculation:

Channel Opening Costs:
• On-chain fee (opening)
• Capital lock-up cost (opportunity cost)
• On-chain fee (closing)

Maintenance Costs:
• Rebalancing fees
• Monitoring and management time

Revenue:
• Routing fees
• Liquidity rental income

ROI Calculation:
Yield = (Routing Income - Costs) / Capital Invested

Typical Routing Node:
• APY 1-5% (market dependent)
• Requires active management