unpersonify tBTC, add note about signer trolling feerate
@@ -90,8 +90,8 @@ purchase and burn TBTC in order to get the underlying BTC).
If the deposit is in good standing (has at least {minimal-custodial-equity}
equity), and {minimal-custodial-period} has elapsed since the deposit was
created, the owner may request redemption. To do so the owner makes a
-_redemption request_ transaction to the smart contract on tBTC's host chain.
-The _redemption request_ includes the following:
+_redemption request_ transaction to the smart contract on the host chain. The
+_redemption request_ includes the following:
1. A fee amount
- must be >={min-redemption-fee} ({min-redemption-feerate})
@@ -185,15 +185,18 @@ without explicit authorization. This could creates a no-win scenario for
signers, in which they could not get the requester's transaction confirmed in
the current fee climate and would eventually be punished despite honest
behavior. Unfortunately, we cannot rely on the requester to stay online or
-update fee rates honestly. Ergo, tBTC requires some mechanism to fairly adjust
-fee rates without the requester's explicit consent.
+update fee rates honestly. Ergo, the system requires some mechanism to fairly
+adjust fee rates without the requester's explicit consent.
-The simplest scheme is to allow signers to increase the fee without requestor
-consent after a timeout. As such, tBTC allows signers to increase linearly
+The simplest scheme is to allow signers to increase the fee without requester
+consent after a timeout. As such, we allow signers to increase fees linearly
every {fee-increase-timer}. Which is to say, if the fee is `f`, after
{fee-increase-timer} the signers may notify the deposit contract of a fee
increase to `2f` and if the transaction remains unconfirmed after
{fee-increase-timer-times-two}, the signers may notify the contract of a fee
increase to `3f`. This ensures that a redemption transaction will eventually
be confirmed on the Bitcoin blockchain near the minimal fee rate given current
-network congestion.
+network congestion. To prevent the signers from repeatedly requesting fee
+increases, they must actually provide a signature at each fee level. This
+ensures that each feerate is actually attempted before an increase is
+requested.
