From 38b5fbf405d4018e036e7400ed41dc4055670cb4 Mon Sep 17 00:00:00 2001 From: Antoine Poinsot Date: Wed, 29 Sep 2021 18:48:52 +0200 Subject: [PATCH] transactions: increase Emergency feerate to 300sat/vb Fixes #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) --- transactions.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/transactions.md b/transactions.md index 01647b9..e2e39d1 100644 --- a/transactions.md +++ b/transactions.md @@ -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.