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5 Leaving the Ark

Overview

Alice wants to leave the Ark and get her funds back on-chain. It requires an on-chain transaction.

Timeline of events

  1. Alice tells ASP she wants to trade VTXO for UTXO
  2. ASP (with Alice) prepares next Pool transaction:
    • an additional output is added, locked by Alice
  3. Alice creates a Forfeit transaction:
    • spends from VTXO (1) with Alice + ASP
    • adds connector output from Pool transaction (2) as input
    • signs it and send it to the ASP
  4. ASP broadcasts Pool transaction
  5. Alice has now a new UTXO
  6. For at most 4 weeks, Alice will be able to double spend her’s VTXO, but if she does it, the ASP will have time (24 hours) to grab the funds from the VTXO to itself using the Forfeit transaction