Lifecycle
A user creates a QUAI when they deposit funds to a QUAI-enabled smart contract or QUAI-enabled wallet. At any time, the user can transfer the QUAI to another owner using a regular cryptocurrency transaction. The QUAI also has three additional states that enable programmability:
Propose - A proposed QUAI signals that a user is ready to conduct a transaction
Approve - An approval accepts the proposal and enables changes to the network state
Claim - A claim executes the approved changes to the network state
When multiple parties exchange QUAIs, there are also two timeout cases:
Cancellable proposal timeout - A user can cancel a proposed QUAI once an initial timer expires with no counterparty matching the proposal. This resets the QUAI state.
Slashable approval timeout - If a user has approved a matching proposal and a second timer expires without all parties’ approval, any approver can slash QUAIs belonging to the delinquent parties.
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