Lets say i want to host my own instance of lemmy i will buy some domain and hosting server i will run an lemmy instance and then i can just start adding other instancies and post something on them or they also meeds to approve my instance?
Most of the servers running lemmy have federation enabled and open (as you can see, I'm one of those self-hosted instances) and you can just interact with them. Some do have federation locked down, but that's the minority
Do you need a domain for a selfhosted instance? That sounds like something I would like to try but I've never opened anything selfhosted up to the internet