A phone with an open payment channel may get lost or destroyed at any moment and yet an off-chain balance can still be recovered on a new phone thanks to double backup strategy: two copies of encrypted channel data get saved on both Olympus server and your Google Drive.
Note that mnemonic phrase is used as an encryption key so you still need to have it saved in order to obtain and decrypt your channel backups. Here is how to fully restore a lost balance on a new phone:
Channel recovery toolavilable in wallet settings.
Google Drive recovery works by uploading an encrypted channel backup on each off-chain payment you make. Once restored, wallet automatically tries to fetch the latest backup available. All that you need to do is to sign in to your GDrive account.
Olympus recovery works as follows: once a fresh payment channel is created it gets encrypted and sent to Olympus server. This operation is only carried out once per each channel. Encrypted backup can be later retrieved and used to reimburse your lost channel balance back to your on-chain wallet using a
Please note that following conditions must be met for
data-loss-recovery to work: