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In short, private refunds allow Alice to fund an arbitrary transaction (possibly with public functions) using an arbitrary private token via a fee payment contract, and get her refund as private token notes.
Without this flow, Alice must fund her transactions either:
natively with AZT herself
using public balances and an FPC
using private balances but forgoing a refund
Partial notes generally support patterns where we need to construct a note that is dependent on on-chain data sources that are not available in private.
Example sources are:
price feeds
prevailing interest rates
weather data from IoT sensors
time
Applications could include:
start a point $(\text{owner} + \text{principle})*G$, complete it with the prevailing interest rate to construct a note representing a loan.
submit a claim on your farm insurance based on regional flooding data.
private discounts/deals based on time of day
lock some private assets as a point, cash them out privately with interest based on the amount of time they were locked up.
a dex where the liquidity is in public but rewards/swaps occur with notes
So the use cases are compelling, but there are problems with the current implementation. This issue tracks work to make the concept ready for production.
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Partial notes were used to make private refunds possible.
In short, private refunds allow Alice to fund an arbitrary transaction (possibly with public functions) using an arbitrary private token via a fee payment contract, and get her refund as private token notes.
Without this flow, Alice must fund her transactions either:
Partial notes generally support patterns where we need to construct a note that is dependent on on-chain data sources that are not available in private.
Example sources are:
Applications could include:
So the use cases are compelling, but there are problems with the current implementation. This issue tracks work to make the concept ready for production.
Tasks
funded_amount >= transaction_fee
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