commit f33088c18b3c5f95198caf584871773b3bd56a07
parent f8c5c93802d25ca68d7a5091712dcc4ab69fef51
Author: Özgür Kesim <oec-taler@kesim.org>
Date: Mon, 10 Oct 2022 12:54:59 +0200
-layout tweaks, typos
Diffstat:
1 file changed, 22 insertions(+), 16 deletions(-)
diff --git a/design-documents/028-deposit-policies.rst b/design-documents/028-deposit-policies.rst
@@ -12,22 +12,28 @@ We will propose here a plugable mechanism in the exchange to support deposits
with associated policy. An exchange can enable support for such policies via
configuration.
-The inital set of policy extensions that an can exchange provide consists of
-
-- *Merchant refunds*: Merchant can grant customers refundable payments. In
- this case, the amount of the deposit is put into escrow by the exchange for a
- certain period until which the customer can claim a refund.
-- *Escrowed payments*: A trustor puts coins into escrow with the exchange. It
- can be claimed by a beneficiary until a certain deadline, when the claim is
- signed by both, the beneficiary's and the trustor's keys.
-- *Brandt-Vickrey auctions*: A bidder puts coins into escrow with the exhange
- in order to participate in an Brandt-Vickrey auction. The deposit
- confirmation is proof to the seller for the escrow and contains a hash of the
- auction meta-data and a deadline. After successfull execution of the
- auction, the seller provides a valid transcript to the exchange from which
- the exchange learns which bidder(s) won the auction for which prices. It
- then transfers the amounts from the winners' coins to the seller. In case of
- a timeout and for all losing bidders, the coins can be refreshed.
+The inital set of policy extensions that an exchange might provide consists of
+
+Merchant refunds
+ Merchant can grant customers refundable payments. In this case, the
+ amount of the deposit is put into escrow by the exchange for a certain
+ period until which the customer can claim a refund.
+
+Escrowed payments
+ A trustor puts coins into escrow with the exchange. It can be claimed
+ by a beneficiary until a certain deadline, when the claim is signed by
+ both, the beneficiary's and the trustor's keys.
+
+Brandt-Vickrey auctions
+ A bidder puts coins into escrow with the exhange in order to
+ participate in an Brandt-Vickrey auction. The deposit confirmation is
+ proof to the seller for the escrow and contains a hash of the auction
+ meta-data and a deadline. After successfull execution of the auction,
+ the seller provides a valid transcript to the exchange from which the
+ exchange learns which bidder(s) won the auction for which prices. It
+ then transfers the amounts from the winners' coins to the seller. In
+ case of a timeout and for all losing bidders, the coins can be
+ refreshed.
The policies shall be implemented as *extensions* to the exchange (see
:doc:`006-extensions`).
