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transactions: increase Emergency feerate to 300sat/vb
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Fixes revault#86, although it's not an "insanely high feerate" as mentioned in
the issue.

The rationale for this was that WTs won't have a fee reserve dedicated
to the Emergency fee bumping. We can use the reserve kept by watchtowers
for bumping the Cancel, but it's only kept for active vaults.
300sat/vb is meant to be a sweet pot between:
- too much reliance on WTs' reserves for the Cancel tx that they may not
  have (eg if most vaults are inactive)
- incurring a too high barrier to entry (a larger feerate increases the
  minimum deposit value) and an Emergency cost (what % of funds are you
  ready to burn during an Emergency procedure? Supposedly 100% for game
  theory but hey)
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darosior committed Oct 6, 2021
1 parent 67058a7 commit 38b5fbf
Showing 1 changed file with 4 additions and 4 deletions.
8 changes: 4 additions & 4 deletions transactions.md
Original file line number Diff line number Diff line change
Expand Up @@ -152,12 +152,12 @@ reduce the funds burden on *each* of the watchtowers.

## emergency_txs

Emergency transactions are used as deterrents against threats targetting stakeholders'
funds. They lock coins to what we call an EDV (Emergency Deep Vault): a script chosen
by the participants and kept obfuscated by the properties of P2WSH, as the emergency
Emergency transactions are used as deterrents against threats targeting stakeholders'
funds. They lock coins to what we call an EDV (Emergency Deep Vault): a script chosen
by the participants and kept obfuscated by the properties of P2WSH, as the emergency
transactions are never meant to be used.

Both Emergency transactions are signed at a fixed `22 sat/WU` feerate.
Both Emergency transactions are signed at a fixed `75 sat/WU` feerate.

Both Emergency transaction are signed using the `ALL | ANYONECANPAY` signature hash flag,
to allow watchtowers (or anyone else) to attach fee-bumping inputs.
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