John Balkam on Nostr: So let me know if I understand cashu/Ecash: A user sends sats via lightning to a ...

So let me know if I understand cashu/Ecash:

A user sends sats via lightning to a mint.

The mint sends Ecash to the user that is 1:1 valued against the sats sent to the mint.

User can now send peer to peer Ecash to anyone with an Ecash wallet.

Or user can redeem sats for Ecash at anytime.

What did I miss?