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# Introduction
Lightning Pool is a non-custodial, peer-to-peer marketplace that allows node
operators that need inbound liquidity to pay node operators with available
capital to open channels in their direction while retaining full custody of
their funds. Pool’s first product is a Lightning Channel Lease - an inbound
channel with a pre-agreed duration.
Lightning Pool is a non-custodial, peer-to-peer marketplace that allows node operators that need inbound liquidity to pay node operators with available capital to open channels in their direction while retaining full custody of their funds. Pool’s first product is a Lightning Channel Lease - an inbound channel with a pre-agreed duration.
Efficient capital allocation is one of the most widely felt pain points when
using the Lightning Network. Existing node operators do not have access to
pricing signals to help determine where in the network their outbound liquidity
should be allocated, and new node operators have no way to signal that they
need new inbound liquidity. Lightning Pool brings these two sides together into
a single market while allowing them to maintain custody of their funds.
Efficient capital allocation is one of the most widely felt pain points when using the Lightning Network. Existing node operators do not have access to pricing signals to help determine where in the network their outbound liquidity should be allocated, and new node operators have no way to signal that they need new inbound liquidity. Lightning Pool brings these two sides together into a single market while allowing them to maintain custody of their funds.
Checkout our [documentation]() to learn more.
Checkout our [documentation](./) to learn more.
## How it works
Lightning Pool is a non-custodial auction for liquidity where bids are kept
private and trades clear periodically. Key aspects of Pool include:
Lightning Pool is a non-custodial auction for liquidity where bids are kept private and trades clear periodically. Key aspects of Pool include:
* **Periodic clearing** - Market does not clear continuously, instead, it
clears every block \(or after multiple blocks, if there are no bids that
match with existing asks\).
* **Non-custodial** - Clients maintain an on-chain account that is a
timelocked, 2-of-2 multisig with the auctioneer. These funds are fully in the
user’s control at all times.
* **Sealed-bid** - All orders are submitted off-chain to the auctioneer, so
bidders don’t have visibility into the bids of other participants
* **Uniform clearing price** - All participants in a batch clear at the same
price. If your ask is for 2% annualized interest, you will receive >=2%.
If you bid 5%, you will pay <=5%.
* **Batched execution** - Due to the account structure, the auctioneer is able
to batch all completed orders into a single transaction, greatly reducing
individual chain fees.
* **Periodic clearing** - Market does not clear continuously, instead, it clears every block \(or after multiple blocks, if there are no bids that match with existing asks\).
* **Non-custodial** - Clients maintain an on-chain account that is a timelocked, 2-of-2 multisig with the auctioneer. These funds are fully in the user’s control at all times.
* **Sealed-bid** - All orders are submitted off-chain to the auctioneer, so bidders don’t have visibility into the bids of other participants
* **Uniform clearing price** - All participants in a batch clear at the same price. If your ask is for 2% annualized interest, you will receive >=2%. If you bid 5%, you will pay <=5%.
* **Batched execution** - Due to the account structure, the auctioneer is able to batch all completed orders into a single transaction, greatly reducing individual chain fees.
## Installation
@ -45,13 +22,7 @@ Download the latest binaries from the [releases](https://github.com/lightninglab
## LND
Note that LiT requires `lnd` to be built with **all of its subservers** and
requires running at least `v0.11.1`. Download the latest [official release
binary](https://github.com/lightningnetwork/lnd/releases/latest) or build `lnd`
from source by following the [installation
instructions](https://github.com/lightningnetwork/lnd/blob/master/docs/INSTALL.md).
If you choose to build `lnd` from source, use the following command to enable
all the relevant subservers:
Note that LiT requires `lnd` to be built with **all of its subservers** and requires running at least `v0.11.1`. Download the latest [official release binary](https://github.com/lightningnetwork/lnd/releases/latest) or build `lnd` from source by following the [installation instructions](https://github.com/lightningnetwork/lnd/blob/master/docs/INSTALL.md). If you choose to build `lnd` from source, use the following command to enable all the relevant subservers:
```text
make install tags="signrpc walletrpc chainrpc invoicesrpc"
@ -59,12 +30,11 @@ make install tags="signrpc walletrpc chainrpc invoicesrpc"
## Usage
Read our [getting started guide]() to learn more about how to use Pool.
Read our [getting started guide](./) to learn more about how to use Pool.
## Troubleshooting
[Join us on Slack](https://lightning.engineering/slack.html) and we'd be happy
to help in any way we can. In the meantime please see our [FAQs]().
[Join us on Slack](https://lightning.engineering/slack.html) and we'd be happy to help in any way we can. In the meantime please see our [FAQs](faq.md).
## Build from source