Secrets - AtomicLoans/atomicloans-rfc GitHub Wiki
The secrets used in the lending/borrowing portion of the protocol are as follows:
- Secret A1
- Used to prove that Alice withdrawn the loan. Revealed on
Loans.withdraw
- Used to prove that Alice withdrawn the loan. Revealed on
- Secret B1
- Revealed by Bob when they wish to allow Alice to retrieve her Collateral after repaying the loan by calling
Loans.accept.
- Revealed by Bob when they wish to allow Alice to retrieve her Collateral after repaying the loan by calling
- Secret C1
- Revealed by Carol when they wish to allow Alice to retrieve her Collateral after repaying the loan by calling
Loans.accept.
- Revealed by Carol when they wish to allow Alice to retrieve her Collateral after repaying the loan by calling
The secrets used for liquidations are as follows:
- Secret A2
- Revealed by Alice after 30 minutes after Carol has provided a signature for the collateral swap p2sh to return to the collateral p2sh if Bob has not revealed Secret B
- Secret B2
- Revealed by Bob after Carol has provided a signature for the collateral swap p2sh to return to the collateral p2sh (within 15 minutes)
- Secret C2
- Revealed by Carol after Bob has provided a signature for the collateral swap p2sh to return to the collateral p2sh (or Alice if Bob has not responded for 30 minutes).
Note: When requesting a loan, each party provides 4 secret hashes. 1 for the lending/borrowing portion of the debt agreement, and 3 to allow for up to 3 liquidations to occur, in case the first 2 fail.