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zeekay
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19-page paper (luxcover format) covering: - SSB profile + diaspora corridor + why now (Honeycoin / VALR comparables) - Partnership hypothesis (Simplici.io + Lux Network + SF Private Pay) - Africa-at-Home concentric-rings deployment model - Shariah-to-Lux primitive mapping (Murabahah, Mudharabah, Musharakah, Ijaarah, Sukuk, Takaful as typed on-chain objects with AAOIFI-aligned invariants) - 5 augmentation workstreams (Shariah-native onboarding, on-chain Shariah contracts, diaspora corridor, drought-linked parametric Takaful, trade-finance digitisation) - Commercial + compliance posture + phased roadmap
40 lines
1.8 KiB
TeX
40 lines
1.8 KiB
TeX
\section{Introduction}
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\label{sec:intro}
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%% =====================================================================
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Traditional securities custody relies on a custodian bank that holds
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assets on behalf of clients. The custodian is a single point of
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failure: if it is compromised, all client assets are at risk. If it
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becomes insolvent, clients are general creditors. Blockchain-based
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securities remove the custodian by making the private key the proof
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of ownership, but this shifts the risk to key management: a lost key
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means lost assets, and a stolen key means stolen assets.
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Threshold signing eliminates the single-key problem. Instead of a
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single private key, the signing capability is distributed across
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multiple parties via secret sharing. A $t$-of-$n$ threshold scheme
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requires $t$ parties to cooperate to produce a valid signature, while
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any $t-1$ parties learn nothing about the key. The on-chain address
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is derived from the \emph{aggregate} public key and is
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indistinguishable from a standard single-key address.
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This paper describes the custody architecture deployed on the Liquid
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EVM for digital securities. The architecture uses two threshold
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signing protocols:
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\begin{itemize}[nosep]
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\item \textbf{CGGMP21}~\cite{cggmp21}: Threshold ECDSA for
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secp256k1. Produces standard $(r, s, v)$ Ethereum signatures.
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Used on EVM chains (downstream EVM L1s, Ethereum, Polygon, BSC).
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\item \textbf{FROST}~\cite{frost}: Threshold Schnorr for Ed25519
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and BIP-340 Taproot. Produces standard 64-byte Schnorr
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signatures. Used on Solana, TON, Cosmos, and Bitcoin Taproot.
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\end{itemize}
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Both protocols operate over the same Shamir secret sharing
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infrastructure (the \texttt{luxfi/threshold} LSS library) and share
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a common key generation ceremony.
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%% =====================================================================
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