Creating a custom watercooled led light ... struggling

It is indeed often recommended to not parallel LEDs, with two LEDs with a Vf difference the one with lower Vf will draw more current than the other, which means it will heats up more which in turn decreases its Vf, drawing even more current…etc. In practice it’s not really an issue with high power LEDs, there isn’t much Vf variation in the first place and unless overdriven near their limit there is a lot of room for some current imbalance, the Vf also increases substantially as current increases (with XHPs at least), counteracting heat Vf decrease. Many high power multi LED flashlights use parallel LEDs, an Acebeam X50 for example has 12XHP70.2 in parallel (6V). Quite a few LED bulbs I disassembled had a combination of series and parallel configurations, an XHP LED actually has 4 LEDs in a single package, wired in 4S (12V) or 2S2P (6V), though they might be binned to have less Vf variation and it’s probably better to series 2 6V XHP than parallel 2 12V ones. If it can simplify your circuit then IMO it’s a viable option.

I wonder why it needs such high inductance, 68uH is quite high and indeed it’s a problem since it needs to be huge for the current/saturation rating needed.

Your chart shows the rest voltage, the voltage of the battery under load will be lower, how much depends on the battery internal resistance, which comprise of the cell’s DCIR and battery management system (BMS : overvoltage/undervoltage/overcurrent protection) circuitry resistance if there is one.

For example a LiFePo4 cell like this one, has a voltage of ~3.3V with a 0.2A draw at 50% SOC, but it drops to 3V at 20A draw, which would be 12V in a 12V(4S) battery, and this is a high power density cell (very low DCIR).

Then there is the Vf at the desired current, which is going to be higher than the ”6V” or ”12V” nominal Vf, see this test of the XHP70.2, for example at 6V10A the actual Vf is 6.63V (13.26V at 12V5A).
So even with the 100% duty cycle capable LM3409 you wont be able to drive your LEDs at your needed current with a x nominal battery voltage to x nominal Vf. With 24Vin, 1x12V or 3x6V LED would be the maximum, with 36Vin, 2x12V or 5x6V.

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