Document the NFT requirement for redemption
Refs
@@ -12,16 +12,17 @@ endif::tbtc[]
== Overview
-Deposits represents real Bitcoin unspent transaction outputs ("UTXOs") and are
+Deposits represent real Bitcoin unspent transaction outputs ("UTXOs") and are
redeemable for the BTC held there. The tBTC redemption system aims to provide
-access to those BTC via a publicly-verifiable process. To support this goal,
-the redemption flow has been designed such that any actor may perform its
-critical actions (with the exception of producing signatures).
-
-So long as the deposit is maintained in good standing, anyone may
-<<Redemption Requests,request redemption>>. To do so, the requester must repay
-outstanding TBTC (plus accrued custodial fees) and provide their Bitcoin
-payment details. At this point, the redemption process may not be cancelled.
+access to those BTC via a publicly verifiable process.
+
+So long as a deposit is maintained in good standing, the holder of the
+<<{root-prefix}/deposit/minting#,non-fungible deposit token>> may
+<<Redemption Requests,request redemption>>, relinquishing their NFT and paying
+any outstanding signer fees associated with the deposit.
+
+At this point, the redemption process may not be cancelled.
+
Once redemption has been requested, the signers must produce a valid Bitcoin
signature sending the underlying BTC to the requested address. After a
signature has been published, any actor may build and submit a
@@ -36,7 +37,7 @@ _redemption transaction_ to the Bitcoin blockchain using that signature.
:min-redemption-feerate: ~20 satoshi/vbyte
If the deposit is in good standing (has not been accused of fraud, or entered
-signer liquidation), anyone may request redemption. To do so that person makes
+signer liquidation), only the deposit token may request redemption. To do so that person makes
a _redemption request_ transaction to the smart contract on the host chain. The
_redemption request_ includes the following:
@@ -97,7 +98,7 @@ have a strong incentive to broadcast the transaction as early as possible,
anyone may do so if the signers do not.
-== Redemption Proof
+== Redemption proof
:redemption-proof-timeout: 12 hours
@@ -113,7 +114,7 @@ than or equal `UTXO Size - highest allowed fee` (see
<<Allowing for Bitcoin Fee Adjustment>> for more details).
-== Validating a Signature
+== Validating a signature
:signature-timeout: 3 hours
@@ -134,7 +135,7 @@ signature and that a signature on that digest was requested as part of a
redemption process.
-== Allowing for Bitcoin Fee Adjustment
+== Allowing for Bitcoin fee adjustment
:fee-increase-timer: 4 hours
:fee-increase-timer-times-two:
