blip-0034: the recommended_feerates message

Many lightning messages include feerates for on-chain transactions.
Nodes receiving those messages are supposed to reject them if they
are considered too low or too high. However, there is no mechanism
to let peers know which feerates we currently find acceptable, which
leads to frequent failures, especially when the mempool feerates
fluctuate quickly.

We introduce an optional message to tell our peers the feerates we'd
like to use.

Author: t-bast

README.md

@@ -17,11 +17,12 @@ published here.
 For more detail on the process, please read [bLIP-0001](./blip-0001.md) and
 [bLIP-0002](./blip-0002.md).
 
-| Number                   | Title                     | Author                      | Status |
-|--------------------------|---------------------------|-----------------------------|--------|
-| [1](./blip-0001.md)      | bLIP Process              | Ryan Gentry                 | Active |
-| [2](./blip-0002.md)      | Reserved Values           | Bastien Teinturier          | Active |
-| [3](./blip-0003.md)      | Keysend                   | Valentine Wallace           | Active |
-| [10](./blip-0010.md)     | Podcasting 2.0            | Satoshis Stream             | Active |
-| [11](./blip-0011.md)     | NameDesc                  | Hampus Sjöberg              | Active |
-| [17](./blip-0017.md)     | Hosted Channels           | Anton Kumaigorodskiy        | Active |
+| Number                   | Title                              | Author                      | Status |
+|--------------------------|------------------------------------|-----------------------------|--------|
+| [1](./blip-0001.md)      | bLIP Process                       | Ryan Gentry                 | Active |
+| [2](./blip-0002.md)      | Reserved Values                    | Bastien Teinturier          | Active |
+| [3](./blip-0003.md)      | Keysend                            | Valentine Wallace           | Active |
+| [10](./blip-0010.md)     | Podcasting 2.0                     | Satoshis Stream             | Active |
+| [11](./blip-0011.md)     | NameDesc                           | Hampus Sjöberg              | Active |
+| [17](./blip-0017.md)     | Hosted Channels                    | Anton Kumaigorodskiy        | Active |
+| [34](./blip-0034.md)     | The `recommended_feerates` message | Bastien Teinturier          | Active |

blip-0002.md

@@ -61,6 +61,7 @@ bLIPs may create new messages and reserve their type in the following table:
 
 | Type    | Name                            | Link                       |
 | ------- | ------------------------------- | -------------------------- |
+| 35025   | `recommended_feerates`          | [bLIP 34](./blip-0034.md)  |
 | 65535   | `invoke_hosted_channel`         | [bLIP 17](./blip-0017.md)  |
 | 65533   | `init_hosted_channel`           | [bLIP 17](./blip-0017.md)  |
 | 65531   | `last_cross_signed_state`       | [bLIP 17](./blip-0017.md)  |

blip-0034.md

@@ -0,0 +1,93 @@
+```
+bLIP: 34
+Title: The `recommended_feerates` message
+Status: Active
+Author: Bastien Teinturier <[email protected]>
+Created: 2024-07-02
+License: CC0
+```
+
+## Abstract
+
+Many lightning messages include feerates for on-chain transactions. Nodes
+receiving those messages are supposed to reject them if they are considered
+too low or too high. However, there is no mechanism to let peers know which
+feerates we currently find acceptable, which leads to frequent failures,
+especially when the mempool feerates fluctuate quickly.
+
+We introduce an optional message to tell our peers the feerates we'd like to
+use.
+
+## Copyright
+
+This bLIP is licensed under the CC0 license.
+
+## Specification
+
+### The `recommended_feerates` message
+
+1. type: 35025 (`recommended_feerates`)
+2. data:
+   * [`chain_hash`:`chain_hash`]
+   * [`u32`:`funding_feerate_per_kw`]
+   * [`u32`:`commitment_feerate_per_kw`]
+
+### Requirements
+
+The sender:
+
+* SHOULD frequently send `recommended_feerates` with feerates it currently
+  accepts for lightning channel operations.
+* SHOULD set `funding_feerate_per_kw` to the feerate it uses for funding
+  channels.
+* SHOULD set `commitment_feerate_per_kw` to the feerate it uses for
+  commitment transactions.
+* SHOULD accept feerates that are close to the values it advertised.
+
+The receiver:
+
+* SHOULD not send lightning messages with feerates that are much higher or
+  much lower than the received feerates (e.g. when sending `open_channel`
+  or `update_fee`).
+
+### Rationale
+
+While it won't guarantee success every time, taking into account our peer's
+recommended feerates reduces the frequency of failures when funding channels.
+
+### Test vectors
+
+The following test vectors describe how the `recommended_feerates` message is
+encoded:
+
+```json
+[
+  {
+    "recommended_feerates": {
+      "chain": "testnet3",
+      "funding_feerate_per_kw": "2500 sat/kw",
+      "commitment_feerate_per_kw": "2500 sat/kw"
+    },
+    "encoded": "88d1 43497fd7f826957108f4a30fd9cec3aeba79972084e90ead01ea330900000000 000009c4 000009c4"
+  },
+  {
+    "recommended_feerates": {
+      "chain": "testnet3",
+      "funding_feerate_per_kw": "5000 sat/kw",
+      "commitment_feerate_per_kw": "253 sat/kw"
+    },
+    "encoded": "88d1 43497fd7f826957108f4a30fd9cec3aeba79972084e90ead01ea330900000000 00001388 000000fd"
+  }
+]
+```
+
+## Motivation
+
+This feature is particularly useful when mobile wallets initiate channel
+operations with their service provider: in most cases, they should use what
+the service provider recommends since they don't have access to a full node
+and the service provider would reject unacceptable feerates anyway.
+
+## Reference Implementations
+
+* eclair: <https://github.com/ACINQ/eclair/pull/2860>