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Boarding the Ark

Overview

Alice wants to board the Ark of a well-known Ark service provider (ASP). It requires an on-chain transaction.

Depending on the type of Boarding transaction chosen by the ASP, the timeline is different.

🧳 Boarding with Luggage

  • Alice must be online at least once every 4 weeks to keep her funds safe
  • If ASP is unresponsive, Alice can claim her funds back in 24 hours
  • Easier for the ASP since all VTXOs are born equal
  • To unlock the boarding address Alice needs to make two transactions:

Timeline of events

  1. Alice creates a Boarding transaction
  2. Alice adds any inputs she wants to cover the values the VTXO she will receive, plus on-chain fees
  3. Alice adds an output with 2 spending paths:
    • This funds will belong to the ASP after 4 weeks:
      • (ASP after 4w)
    • A covenant output that forces coins to be spent by a VTXO with an output script with 2 spending paths:
      • (Alice + ASP)
      • (Alice after 24h)
  4. Alice notifies ASP about the Boarding transaction
  5. Alice has now a promise of a VTXO enforced by a covenant

🎒 Boarding without Luggage

  • Alice don't need to worry about being online to maintain access to her funds after boarding
  • If ASP is unresponsive, Alice can claim her funds back in 1 year
  • ASP must be aware of the timeout on the Boarding transaction to prevent double spending

Timeline of events

  1. Alice creates a Boarding transaction
  2. Alice adds any inputs she wants to cover the values the VTXO she will receive, plus on-chain fees.
  3. Alice adds an output with 2 spending paths:
    • (Alice + ASP)
    • (Alice after 1y)
  4. Alice notifies ASP about the Boarding transaction
  5. Alice can have this deposit to be accepted as if it were a normal VTXO born in an Ark Pool transaction