#nil $NIL @Nillion
I always figured a stop-loss on chain was just a public number. You set it, it sits there, and anyone watching can see exactly where you get out.
@Nillion s Dusk works differently, and the reason is simple once you see it. A stop only works if nobody knows it. So it can't just be hidden, it has to stay locked until the exact moment it should fire.
So your instruction gets split up, each piece encrypted to a different node in a committee, and posted on Ethereum. Everyone can see a covenant exists. Nobody can see what's in it. When a live price feed hits your level, enough of the nodes open it together and it executes. No keeper deciding anything.
Funny part is the lock hides it from everyone, and from you too. Once it's posted there's no cancel.
What I couldn't find is what happens if the feed prints a bad price for a second. Does it open anyway?
I always figured a stop-loss on chain was just a public number. You set it, it sits there, and anyone watching can see exactly where you get out.
@Nillion s Dusk works differently, and the reason is simple once you see it. A stop only works if nobody knows it. So it can't just be hidden, it has to stay locked until the exact moment it should fire.
So your instruction gets split up, each piece encrypted to a different node in a committee, and posted on Ethereum. Everyone can see a covenant exists. Nobody can see what's in it. When a live price feed hits your level, enough of the nodes open it together and it executes. No keeper deciding anything.
Funny part is the lock hides it from everyone, and from you too. Once it's posted there's no cancel.
What I couldn't find is what happens if the feed prints a bad price for a second. Does it open anyway?