Announcement: LN Node Limited OG Series to launch on LN Starter 10 June 2024

Lnfi Network
7 min readJun 5, 2024

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We’re glad to release LN Node to make it possible for anyone to join the Lightning Network revolution! We envision a future where everyone owns a Lightning Node for their day-to-day activities, and LN Node is our effort to realize that vision. With LN Node, anyone and everyone can run a node and benefit from Lightning Network — a truly open global instant settled payment network built for the future!

What is LN Node?

LN Node is a service that streamlines the setup and management of Lightning Nodes, targeted at end users. It is a key vertical of Lnfi, bringing tokenization and decentralized financialization to the Lightning Network. In the Lightning Network ecosystem, the LN Node functions as a self-custody wallet serves as a digital identity, and acts as a passive income generator.

What is the LN Node OG Series?

LN Node OG Series is our first series of LN Nodes via LN Starter. Don’t miss out on your chance to secure one of the limited 160 OG nodes at ONLY US$200 each (paid in either $TRICK/TREAT or SATS).

These nodes offer exclusive access to:

  • Self-custodial assets secured by the Lightning Network,
  • The opportunity to earn lucrative rewards through Channel Mining.
  • The channel mining rate of OG Node is 120% (20% higher than non-OG nodes)

SPECIAL BONUS EXCLUSIVE TO LN NODE OG SERIES

  • 1000 $TREAT/$TRICK (~$150 USDT based on current TT’s price of ~$0.15) will be rewarded to participants who open a 5,000,000 SATS channel with Lnfi for 90 days.

*Refer to this tweet for the latest update on the eligibility for this special bonus: https://x.com/LnfiNetwork/status/1805908351899038016

Act fast! Once these OG nodes are gone, they’re gone for good — We will not issue them anymore. Join the LN Starter campaign and seize this opportunity before it’s too late!

Why LN Node?

1. Be financially incentivized

With LN Node, users can earn via Channel Mining:

Channel Mining reward is based on our scoring =
(channel capacity x duration x mining rate) / (total channels’ capacity x duration x mining rate).

The mining rate for OG LN Node will be exclusively 120%.

Channel Mining Eligibility

To be eligible for the Channel Mining earnings (estimated 10%+ APY), users would need to prepare to open a Channel with Lnfi:

  • Minimum channel capacity: 1,000,000 sats
  • Maximum channel capacity: 10,000,000 sats

*The channel capacity cap will be lifted in the future

How?

  • Create $BTC channels & earn $TRICK/$TREAT.
  • Create Taproot Assets channels & earn $TRICK/$TREAT (when Taproot Assets is live on Lightning Network).
  • Bonus trading points (for trading on the LN Exchange when it is released)

Liquidity Provisioning on Lightning Network

Lnfi will also develop a future product to simplify liquidity provisioning on the Lightning Network, allowing LN Node owners to earn spreads by providing edge liquidity on Taproot Assets.

2. Safe & Secure. Self-custody your assets on the Lightning Network

Only the user knows their private key and has access to their assets, ensuring maximum security and privacy. The Channel Mining is fully secured by Lightning Network. It eliminates the need for intermediaries or third-party trust, as funds are held in users’ self-custody on the Bitcoin mainnet. Additionally, these funds actively provide liquidity, earn income for the user, and contribute to the Lightning Network ecosystem. This distinguishes Channel Mining from most existing BTC Layer 2 or bridging solutions.

Note: Trading on the LN Exchange still requires custody of your assets upon its launch. We will share our roadmap to transition towards full self-custody trading in a separate article.

3. Access and make direct Lightning payments to all Lightning+Nostr applications through Nostr Wallet Connect (NWC).

We will create an Ecosystem page to feature such applications. LN Node holders can export their nodes to any NWC-supported wallets, which can then be used to sign in to any Nostr apps and make Lightning payments.

Upon extending NWC with LN Link, users can make Lightning payments in Taproot Assets.

4. LN Node $NODE1 Token will be tradeable on the P2P Marketplace.

The LN Node OG series is linked to a $NODE1 token (Taproot Asset) with a total supply of 200. $NODE1 Token will be tradeable on the P2P Marketplace immediately after claiming the rewards in Phase 3.

Note: If a user decides to create a node, the token will be “burnt” and consumed as the creation fee. Once the token is burnt, it will no longer be tradable on the P2P Marketplace. To facilitate a fluid P2P sale of LN Nodes, a LN Node Marketplace will be developed in the future, which eliminates the existence of $NODE1 tokens.

5. Built for users. Simplified Node Creation & Management.

Simple node creation with minimal clicks, powered by Nostr.

LN Node has completed the early access test with many of our testers giving positive feedback:

“The operation is seamless and smooth — just a few clicks! The best part is that no matter the amount of BTC, you can effortlessly transfer it to a bc1p address on the mainnet in a single transaction without any restrictions. Once the funds are in your node, you can enjoy low fees and lightning-fast transactions on the Lightning Network for transfers and trades!”

“Participating in the LN Node early access test gave me a deep appreciation for the power and convenience of Lightning Network technology. As a key component of the Lightning Network, LN Node offers users more functionality and enhanced security, providing strong support for the future expansion and application of the Lightning Network. I believe that the unique features of the Lightning Network will secure its place in the evolution of blockchain technology.”

6. Best in Class

To ensure top-notch security and the best experience for users, LN Node is built in collaboration with Voltage, a leading US-based solution provider with a proven track record of hosting self-custody Lightning Nodes. Trusted by many Lightning companies, including Amboss, LNPay, THNDR Games, and Satsback.com, Voltage brings unparalleled expertise to our platform.

LN Node OG Series Mint Rules

Total Supply: 200
Allocation to LN Starter’s campaign: 160
Allocation to Key Partners & Contributors: 40

Note: This is NOT a free mint. Users must participate in the LN Starter’s campaign to win the chance to mint the LN Node OG Series. The LN Node OG Series, which includes a 12-month subscription of cloud service fee, is priced at 200 USDT each.

To show our appreciation for the continuous support from our community, we are not aiming to profit from this campaign. The subscription cost is set at a minimal level, just enough to cover some server expenses.

Minimum Stake to Participate: 200 USDT worth (of SATS or $TREAT/$TRICK)

Total LN Node OG per Winner: 1

Maximum Winners: 160

Winners per Block: 5

Number of Blocks / Lottery Draw Period: ~ 32 Blocks

Important: One Nostr Address can only participate in one pool.

Read LN Starter’s rules:
https://docs.lnfi.network/lightning-starter-transparent-unbiased-fair-mint

By participating, you must read and agree to the following Terms of Use.

LN Node OG Series Timeline

Phase 1:

  • Participation starts on
    Start Monday, 10 June 2024 10 AM UTC+8,
    End Wednesday, 12 June 2024 10 AM UTC+8
  • There will be six zodiac pools for SATS and the remaining six for $TREAT/$TRICK. (As this is not considered a new token launch, the $TNA token from the preceding Fair Mint will not be eligible for this mint).
  • At the end of Phase 1, 50% of the locked assets will be refunded after deducting the Payable Amount for the LN Node in either $TRICK/$TREAT or SATS, varying by the zodiac pool the winner participated in.
  • If the payable amount exceeds 50% of the locked assets, the remaining payable amount will be deducted from the other 50% of the winner’s locked assets, which will be refunded after Phase 2. If the user does not win, the payable amount will also be refunded in Phase 2.
  • Phase 1 —
    https://mainnet.lnfi.network/#/ecosystem/lightning-starter/lottery

Phase 2:

  • Lottery Draw Date — To be announced
  • Starting Bitcoin’s Block Number — To be announced
  • The remaining locked assets will be refunded at the end of Phase 2.

Phase 3: Rewards Redemption

  • Date: To be announced

Important: Unclaimed rewards will be refunded to Lnfi Team

  • For winners who did not win, the deducted value of LN Node will be refunded to their participating Nostr Address.
  • Tradable on the P2P marketplace immediately after claiming.

Frequently Asked Questions on LN Node

How is LN Node different from a standard Lightning Node?

Functionality-wise, they are almost identical. LN Node adds an additional layer of abstraction to simplify setup and management with minimal clicks and enhanced security through Nostr, making it more suitable for end users without technical proficiency. It will also seamlessly support any features of Lnfi and benefit from Lnfi’s tokenomics.

When will LN Node Channel Mining officially start?

The official start date and time for Channel Mining will be announced at a later date. Winners of the OG Mint will receive the $NODE1 tokens, which will be tradable on the P2P Marketplace after they are distributed in Phase 3.

If I win a LN Node OG Mint, do I have to pay $200 to subscribe to LN Node for 12 months?

When participating in the LN Node OG Mint, you need to stake a minimum of 200 USDT worth of SATS or $TREAT/$TRICK. The value of the LN Node will be deducted and held during the LN Starter period. The deducted amount will be refunded if you don’t win the mint. If you win, the deducted amount will be exchanged for a NODE1 Token, which you can use to create an LN Node.

How to set up LN Node?

Refer to Gitbook — Step 1: Create LN Node

Note: $NODE1 token will be used as the OG Node Creation Fee in the LN Node creation process.

How to create a Channel with Lnfi?

Refer to Gitbook — Create Channel

About Lnfi

Lnfi Network is an all-in-one financialization L2.5 that brings web3 & tokenization to Lightning Network with TaprootAssets.

Lnfi Official Links

Website: https://www.lnfi.network
Twitter: https://x.com/LnfiNetwork
Telegram: https://t.me/LnfiNetwork
Gitbook: https://docs.lnfi.network

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Lnfi Network

Lnfi is a financialization layer that brings Web3 and tokenization to the Lightning Network through LightningFi (which stands for Lightning Finance).