An interesting article about how to exit spark. Td;tr
It is not easy but can be integrated into wallets so it is easier for the user. But it can be very expensive and there is still trust involved along the way.
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An interesting article about how to exit spark. Td;tr
It is not easy but can be integrated into wallets so it is easier for the user. But it can be very expensive and there is still trust involved along the way.
I appreciate the article, it seems like blink is taking spark seriously, not all wallets can say the same.
So they recovered 82% of the value in a low fee environment. The 90% they mention several times is not considering the fees.
The bundle they build and backup needs to be refreshed to take the fee into account. I think the wallet managing the bundle is necessary to make the exit credible, it's a shame it's not part of the spark protocol. I hope Blink will show in the UI how much is recoverable taking the fees into account.
Meaning... they can spend the funds.
All it takes is being on a sanctioned list and the operators will be forced to collude by law. A merge acquisition, operators going bankrupt, a lot of scenarios can lead to operators colluding, no evil intents required.
Escape
The problem: Fake L2s