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9e27c6548b
* improve introduction and installation docs * add some maker documentation * improve maker docs * Add network section, explain multiaddr, move docker commands into table * Finally fix src-gui/.gitignore * Fix .env.development * Refine cancel, refund, punish explanation * Add to changelog * Make donation addresses copyable * Apply suggestions
69 lines
3.5 KiB
Text
69 lines
3.5 KiB
Text
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import { Callout } from 'nextra/components'
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# Cancel, Refund, and Punish explained
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Atomic Swaps offer a lot of security and privacy benefits, but they also come with some responsibilities.
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As long as you follow the rules of the protocol, you can be sure that you will not lose your funds.
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<Callout type="info">
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If you want to learn more about the technical details, you can read the paper _Atomic Swaps between Bitcoin and Monero by Philipp Hoenisch and Lucas Soriano del Pino_ ([link](https://arxiv.org/abs/2101.12332)) or read this COMIT blog post ([link](https://comit.network/blog/2020/10/06/monero-bitcoin/)).
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</Callout>
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We have chosen to include a fairly technical explanation here.
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The GUI will guide you through the process and make it as easy as possible.
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<Callout type="info">
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Be sure to click the "Resume" button of your swap, if you aren't already resuming it.
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Otherwise, the GUI cannot perform the necessary actions.
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You do not need to manually do any of the specific steps described here.
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</Callout>
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## Cancel
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If the maker has not been able to redeem the Bitcoin (that you locked) within ~12 hours (72 Bitcoin blocks) from the start of the swap[^1], the swap will be cancelled.
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This is done either by you or by the maker, by publishing a special Bitcoin transaction called the _Bitcoin cancel transaction_, or _tx_cancel_.
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As soon as this transaction is confirmed, the swap is locked in a state where only the [_refund_](#refund) and [_punish_](#punish) paths can be activated.
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[^1]: To be exact, the time frame is ~12 hours (72 Bitcoin blocks) from the _confirmation_ of the Bitcoin _lock_ transaction.
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## Refund
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As soon as the swap is cancelled, you can refund your Bitcoin.
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The GUI will do this automatically for you.
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This is done by publishing the Bitcoin _refund_ transaction, or _tx_refund_.
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This must be done within ~24 hours (144 Bitcoin blocks) from the confirmation of the Bitcoin _cancel_ transaction.
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<Callout type="info">
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If the Bitcoin is not refunded within this time frame, the maker can [_punish_](#punish) you.
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This is a security measure to ensure that malicious actors can't refund their Bitcoin while the maker loses their Monero.
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You may still be able to redeem the Monero, if the maker [cooperates](#cooperative-redeem).
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</Callout>
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## Punish
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If you do not refund your Bitcoin within ~24 hours (~144 Bitcoin blocks) from the confirmation of the _Bitcoin cancel transaction_, the maker will _punish_ you.
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This is done by redeeming the Bitcoin that you locked earlier.
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At this point, you can no longer _refund_ the swap and get back your Bitcoin.
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<Callout type="info">
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You may still be able to _complete_ the swap by redeeming the Monero.
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</Callout>
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## Cooperative Redeem
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If the maker has punished you, you may still be able to _complete_ the swap by redeeming the Monero.
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This requires the maker to cooperate.
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Most makers do cooperate, since the alternative is that the Monero will be locked in the swap forever.
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To attempt a cooperative redeem, simply resume the swap.
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A request will be made to the maker to send you the secret key.
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If the request fails (e.g. because of network issues), you can still try again later.
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There is no time limit for this.
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Once the GUI receives the secret key, it will automatically redeem the Monero to the address you specified when you started the swap.
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<Callout type="info">
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With most makers, you can still redeem the Monero even after being punished.
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This is, however, purely voluntary and we advise against relying on this.
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</Callout>
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