Smart Vaults (ex-Coinstr) Launches Testnet Beta, Offers 100k Sats for Testers
Smart Vaults is a bitcoin multi-custody protocol for spending policies and proposal execution. It uses Nostr relays and clients for discovering signers, saving policies & PSBTs, and orchestrating signatures with workflow.
- "We've released the BETA version of Smart Vaults for testnet. We are looking for a handful of people to test the vault creation and spending process. Earn 100k sats."
- Requirements:
- iPhone/iOS and access to web via laptop/desktop;
- takes about 30 minutes;
- collaborate with us via our telegram channel. - "Here are the instructions for the test: https://docs.google.com/document/d/15UQ-1epeMK1YxoCGnZLTh6EkeY387YGpf237TxT5VRA/edit"
- "We are building a wallet that empowers users to determine who, how, and when to spend their Bitcoin - improving its safety, recoverability, and unlocking new use cases like social recovery with trusted connections, inheritance, time-locked hodl, decaying multi-sig etc. It uses Nostr relays to orchestrate signature requests (PSBTs) on spending policies," the team said when announcing waitlist.
- "Check it out and sign up for the waiting list: https://www.smartvaults.io/"
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Here’s a quick rundown of how Smart Vaults work under the covers:
Dependencies (defaults to public relays/nodes)
- Nostr relay (strfry) to share encrypted messages between signers
- Bitcoin core node
- Compile time: BitcoinDevKit and rust-nostr, among others
- Compatible with public relays but leaves non-chain metadata, such as the custom event types.
Event types
- Introduction of several new event kinds
- 9288 - 9295; for types such as shared signers, proposals, policies/vaults, etc.
- See github for more details: https://github.com/coinstr/coinstr/blob/c3cb3f77a1292b420628b05721ca68a5d0114705/crates/coinstr-sdk/src/constants.rs#L9
Signing
- Smart vaults includes a mobile app and desktop app for signing. They can both be connected to the web app via Nostr-Connect (NIP-46).
- The PSBTs are encrypted and relayed to other signers via the Nostr relay.
- Both apps include functionality for Nostr signatures and Bitcoin signatures. The user can also login to web using a browser plugin but of course cannot sign bitcoin transactions with that.
Release
- Desktop application is in open BETA: https://github.com/coinstr/cointr
- iOS mobile app is releasing to TestFlight by mid-August. (DM to be on wait list)
- Web application (advanced vault editor) releases in September.
