Demo status
Updated 15 September 2026. The Ethereum demo contracts are deployed on mainnet. Backend integration and recorded local rehearsals have progressed; the complete external-wallet customer journey still needs qualification before public onboarding.
The rest of this book describes production V2. The demo proves its core collateral lifecycle with a smaller set of outcomes and limited exposure.
Progress so far
| Area | Recorded progress |
|---|---|
| Ethereum | Eight contracts deployed and configured, a verified Pyth price update completed, and initial USDC liquidity supplied. See Deployment reference. |
| Bitcoin lifecycle | Local and container-based rehearsals cover deposit, borrowing, partial withdrawals before and after partial liquidation, a real remainder vault and terminal settlement. Separate paths exercise repayment release, lapse, guardian acknowledgement, delayed payout and reversal. |
| Signing and protection | The backend uses event-bound cheques, threshold protocol signing, combined oracle authorization and payee-authorized settlement returns. These mechanisms are implemented; actual deployment and customer-wallet behavior remain separate checks. |
| Frontend integration | The backend now provides transaction and prevout data for building PSBTs for every customer-signed object, including grid, withdrawal, return and veto transactions. The member recomputes the sighash before returning the artifacts. Real Xverse/Leather signatures and frontend checks for return/veto leaves still need qualification. |
These milestones describe recorded implementation and rehearsal progress. Public access depends on qualification of the deployed backend and complete external-wallet journey at the published mainnet settings.
Two liquidation-grid signatures
An initial or pre-liquidation replacement grid uses two customer liquidation signatures: A for a partial settlement, B for terminal settlement against A’s exact remainder. After A, replacement coverage needs only the remaining terminal liquidation signature.
Funding, cooperative withdrawals, release, lapse, veto and payout-return approvals are additional lifecycle signatures. Two grid signatures do not mean two total wallet prompts. Advanced wallet batching is deferred until after the demo.
Partial repayment and additional borrowing
Partial repayment reduces the live Ethereum debt immediately; it does not wait for a new Bitcoin grid. Existing signed payouts remain fixed, so the demo includes a refresh to align their coverage with the changed position.
Additional borrowing must fit coverage already attested for the active vault. If it needs a higher covered amount, the new coverage must be established before the pool releases the extra funds. Partial withdrawals likewise require coverage for the exact new remainder before the withdrawal can be broadcast.
The selected demo profile uses zero borrowing interest. Settlement distinguishes live debt from the amount covered by signed transactions: repayment-related refunds use the borrowing asset. In interest-bearing markets, interest beyond coverage must also be accounted for; a terminal Bitcoin settlement must not be presented as automatically clearing every Ethereum liability.
Demo wallet review
The backend provides PSBT signing inputs for the external-wallet journey: unsigned transactions, previous outputs, input indices and the relevant spending conditions. Xverse and Leather require the PSBT route for these signatures. A real signature from the selected wallet and the frontend’s verification of return and veto transactions remain release checks.
The supervised demo permits reduced transaction review, but this does not require raw-digest signing. Producing a valid PSBT signature and independently checking its outputs against the position are distinct steps. Production requires that full review.
Customer keys and secret nonces remain outside the webpage and backend. Member policy, threshold authorization, payout returns, replacement coverage and recovery checks still apply. The selected wallet must support the exact signing operation. Transaction and prevout artifacts are now available. Full independent transaction review remains a production requirement.
Selected scope and timing
| Parameter | Demo profile |
|---|---|
| Vault size | Minimum 40,000 sats (0.0004 BTC); maximum 100,000 sats (0.001 BTC). Partial withdrawals remain subject to fees, minimum outputs and the remaining position’s borrowing and coverage limits. |
| Aggregate attested-mint budget | 25,000,000 sats (0.25 BTC). |
| Borrowing asset | Mainnet USDC, with six decimals; exposure is also limited by available pool liquidity. |
| Event coverage period | 180 days, with bounded future announcements and admission checks. |
| Customer escape | 28,800 Bitcoin blocks. |
| Vault veto / guaranteed settlement lane | 288 / 1 Bitcoin blocks, respectively. |
| Mainnet finality | Finalized Ethereum observations and at least six Bitcoin confirmations; transaction-specific locks also apply. |
These are the selected profile values. Integrators must confirm the actual configuration. Bitcoin block counts are not guaranteed wall-clock waits.
The demo uses capped attested collateral credit, a small lending pool, Zest Protocol-operated liquidation and co-hosted services. Production adds its proof-based deposit path, independently operated infrastructure, broader coverage and settlement liquidity. Those later capabilities are not implied by deploying the demo contracts.
Before customer onboarding
Complete the real-wallet deposit, covered borrow, partial repayment and partial-withdrawal journey on the configured stack, and verify independent customer recovery. Confirm the deployed image, public configuration, finality behavior and operating services match the tested release.
Trust assumptions explains the security assumptions; the rollout separates this release from the production stages.