mirror of
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a5539ee08a
Since any version prior to v0.15.4-beta will not sync to the mainnet chain, we can safely bump the minimum required version to that since no older version will be running (properly) anywhere.
99 lines
3.9 KiB
Markdown
99 lines
3.9 KiB
Markdown
# Lightning Pool
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Lightning Pool is a non-custodial, peer-to-peer marketplace that allows node
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operators that need inbound liquidity to pay node operators with available
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capital to open channels in their direction while retaining full custody of
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their funds. Pool’s first product is a Lightning Channel Lease - an inbound
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channel with a pre-agreed duration.
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Efficient capital allocation is one of the most widely felt pain points when
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using the Lightning Network. Existing node operators do not have access to
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pricing signals to help determine where in the network their outbound liquidity
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should be allocated, and new node operators have no way to signal that they
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need new inbound liquidity. Lightning Pool brings these two sides together into
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a single market while allowing them to maintain custody of their funds.
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Checkout our [documentation](https://pool.lightning.engineering/) to learn
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more. For more [technical details, check out the technical white
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paper](https://github.com/lightninglabs/pool-paper/blob/main/liquidity.pdf).
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## How it works
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Lightning Pool is a non-custodial auction for liquidity where bids are kept
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private and trades clear periodically. Key aspects of Pool include:
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- **Periodic clearing** - Market does not clear continuously, instead, it
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clears every block (or after multiple blocks, if there are no bids that match
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with existing asks).
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- **Non-custodial** - Clients maintain an on-chain account that is a
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timelocked, 2-of-2 multisig with the auctioneer. These funds are fully in the
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user’s control at all times.
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- **Sealed-bid** - All orders are submitted off-chain to the auctioneer, so
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bidders don’t have visibility into the bids of other participants
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- **Uniform clearing price** - All participants in a batch clear at the same
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price. If your ask is for 2% annualized interest, you will receive >=2%. If
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you bid 5%, you will pay <=5%.
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- **Batched execution** - Due to the account structure, the auctioneer is able
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to batch all completed orders into a single transaction, greatly reducing
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individual chain fees.
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## Installation
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Download the latest binaries from the
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[releases](https://github.com/lightninglabs/pool/releases) page.
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## LND
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Note that Pool requires `lnd` to be built with **all of its subservers** and
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requires running at least `v0.15.4`. Download the latest [official release
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binary](https://github.com/lightningnetwork/lnd/releases/latest) or build `lnd`
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from source by following the [installation
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instructions](https://github.com/lightningnetwork/lnd/blob/master/docs/INSTALL.md).
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If you choose to build `lnd` from source, use the following command to enable
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all the relevant subservers:
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```
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make install tags="signrpc walletrpc chainrpc invoicesrpc"
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```
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## Usage
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Read our [quickstart guide](https://pool.lightning.engineering/quickstart) to
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learn more about how to use Pool.
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## Marketplace Fee
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Fees are calculated based on the amount of liquidity purchased. During the
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mainnet alpha, fees will range from 5-25 basis points of the matched amount.
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## Development
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The Pool client is currently in early alpha and offers a simple command line
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application.
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The Pool daemon exposes a [gRPC
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API](https://lightning.engineering/poolapi/index.html#pool-grpc-api-reference)
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and [REST
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API](https://lightning.engineering/poolapi/index.html#pool-rest-api-reference).
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## Troubleshooting
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[Join us on Slack](https://lightning.engineering/slack.html) and we'd be happy
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to help in any way we can. In the meantime please see our
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[FAQs](https://pool.lightning.engineering/faq).
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## Build from source
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If you’d prefer to compile from source code, you’ll need at least `go 1.18` and
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`make`.
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Run the following commands to download the code, compile and install Pool:
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```shell
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$ git clone https://github.com/lightninglabs/pool
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$ cd pool
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$ make install
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```
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This will install the binaries into your `$GOPATH/bin` directory.
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## Compatibility
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Lightning Pool requires `lnd` version `0.15.4-beta` or higher (`v0.16.0-beta` or
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later is recommended).
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