Tony on Nostr: There's a current trend right now in LN to start charging towards visa level ...
There's a current trend right now in LN to start charging towards visa level percentage fees on every payment. This is concerning to me.
I'm typically seeing this on wallets that are only compatible with the wallet vendor's LSP. I think this is screwing up incentives and is causing predatory lock in behavior.
This is why the open lsp working group matters and why multi lsp architecture is important. Separating liquidity requirements from wallet vendors will also allow them to bootstrap quicker and focus on the wallet UX.
As much as it sounds good to be the next Visa on LN, this is the wrong move in my opinion.
I'm typically seeing this on wallets that are only compatible with the wallet vendor's LSP. I think this is screwing up incentives and is causing predatory lock in behavior.
This is why the open lsp working group matters and why multi lsp architecture is important. Separating liquidity requirements from wallet vendors will also allow them to bootstrap quicker and focus on the wallet UX.
As much as it sounds good to be the next Visa on LN, this is the wrong move in my opinion.