Merge pull request #363 from ImranLorgat/patch-2

Node Operations - Submarine Swap
4 years ago · f0f4fd483a
parent 964d0a8c8c 443a6fae08
commit f0f4fd483a
1 changed files with 10 additions and 0 deletions
--- a/node_operations.asciidoc
+++ b/node_operations.asciidoc
@ -553,6 +553,16 @@ For the purpose of reducing the balance of our Lightning hot wallet, we would us



+==== Submarine Swap
+
+Submarine swaps, conceptualized by co-author Olaoluwa Osuntokun and Alex Bosworth, allow on-chain Bitcoin to be exchanged for Lightning Bitcoin and vice versa.
+The user could initiate a submarine swap and send all available Lightning Bitcoin to the other party, who will then send them on-chain Bitcoin in exchange.
+The on-chain Bitcoin could even be sent to a different wallet entirely.
+The user has then successfully "sweeped" their Bitcoin off of the Lightning Network and is left with the minimum amount of satoshis in the channel required as a reserve and an open channel with inbound capacity.
+
+In the future this could be a paid service offered by other Nodes on the Lightning Network which advertise exchange rates for the conversion.
+
+
 ==== Watchtowers