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