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RE: DLUX Open Token - The SMT Alternative
That not the LN...
There are no groups of participants that elect themselves to sign processes to facilitate trade in the LN.
That is a Federation Sidechain.
https://medium.com/@BHBnetwork/liquid-the-first-commercial-sidechain-based-on-strong-federation-e39f3cc7cb6
The LN is a meshnetwork of diff rules that all agree on basic principles. Yes LN is multisig but LN uses Payment channels which DLux does not.
The proper term of what your are proposing is a Federated Sidechain (with Metachains properties).
Cool! It's minimally federated. My eventual plan is to give the @dlux-io node it's own github keys so it can sign PRs via consensus in smart contracts... all the processes the individual node signs don't effect governance in any way(and there are no protections to keep @dlux-io in the runner group)... and except for resteem rewards and delegation rewards everything is done via vote/participation. If those go away I don't believe it would be any more federated than any other consensus algo.