IMO it should be like Fennel and just support `lambda` and `λ`. The latter is not even that hard to type, in virtually any free (libre) OS you can just
$ echo '
<Multi_key> <Y> <Y> : "Λ" # GREEK CAPITAL LETTER LAMDA
<Multi_key> <y> <y> : "λ" # GREEK CAPITAL LETTER LAMDA
' >> ~/.XCompose
If you’re limited by a nonfree OS you should be able to patch the problem with free duct tape like Karabiner or AutoHotKey.
And in vim you can just
<C-K>*l
in insert mode (which can be done with option-l on macOS if you `inoremap ¬ <C-K>
*l`
https://apple.stackexchange.com/questions/230422/type-lambda...).