Channel policy

A channel policy are the rules for the channel, for example the cost (fees) of using this channel.

Changing fees: Changing fees

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Explain below

   --base_fee_msat value    the base fee in milli-satoshis that will be charged for each forwarded HTLC, regardless of payment size (default: 0)
   --fee_rate value         the fee rate that will be charged proportionally based on the value of each forwarded HTLC, the lowest possible rate is 0.000001
   --time_lock_delta value  the CLTV delta that will be applied to all forwarded HTLCs (default: 0)
   --chan_point value       The channel whose fee policy should be updated, if nil the policies for all channels will be updated. Takes the form of: txid:output_index

Base fee

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explain what base_fee means

 "base_fee_msat": "0",

Fee per mil

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explain what fee_per_mil means

             "fee_per_mil": "1",

Fee per mil

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explain what fee_rate means

 "fee_rate": 0.000001

Time Lock delta

See Delays

Minimum channel size

Set minchansize=XXXXX in your config file or startup parameters (lnd) and people will not be able to open smaller channels than the number you give in.

Maximum HTLC Size

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Side note:

This is planned for lnd 6.0

Set the max HTLC size to help pathfinding on mobile. It helps if it is already known how big the max payment can be on a channel, makes pathfinding easier.