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85 lines
3.2 KiB
Markdown
85 lines
3.2 KiB
Markdown
# Introduction
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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]() to learn more.
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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 \(or after multiple blocks, if there are no bids that
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match with existing asks\).
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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%.
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If 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 [releases](https://github.com/lightninglabs/pool/releases) page.
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## LND
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Note that LiT requires `lnd` to be built with **all of its subservers** and
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requires running at least `v0.11.1`. 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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```text
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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 [getting started guide]() to learn more about how to use Pool.
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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 [FAQs]().
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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 1.14` and `make`.
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Run the following commands to download the code, compile and install Pool:
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```text
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git clone https://github.com/lightninglabs/pool
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cd pool 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 `0.11.1-beta` or higher
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