diff --git a/XLS-0064d-pseudo-account/README.md b/XLS-0064d-pseudo-account/README.md new file mode 100644 index 00000000..6db65205 --- /dev/null +++ b/XLS-0064d-pseudo-account/README.md @@ -0,0 +1,94 @@ +
    
+Title:        Pseudo-Account
+Type:         draft
+Revision:     1 (2025-03-04)
+
+
 Authors:    
+  Vytautas Vito Tumas
+
+Affiliation: 
+  Ripple
+
+ +# Pseudo-Account + +## _Abstract_ + +In this document, we propose a standard for a _pseudo-account_, an `AccountRoot` object that can be associated with one or more other ledger entries to hold and/or issue assets on behalf of the associated entries. + +## 1. Introduction + +The XRP Ledger is an account-based blockchain in which assets—such as XRP, IOUs, or MPT—can only be held by an account represented by an `AccountRoot` ledger entry. However, certain use cases, such as Automated Market Makers (AMM), Single Asset Vaults, and the Lending Protocol—require assets to be transferable to and from an object. + +The [XLS-30](https://github.com/XRPLF/XRPL-Standards/tree/master/XLS-0030-automated-market-maker#readme) specification introduced the `AMMID` field in the `AccountRoot` ledger entry. This field associates a _pseudo-account_ with an `AMM` instance, allowing it to track XRP and token balances in the pool and issue `LPTokens` on behalf of the `AMM` instance. + +This specification formalises the requirements for an `AccountRoot` when used as a _pseudo-account_. Specifically, it defines: + +- A set of flags that must be enabled. +- A naming convention for the field identifying the object the `AccountRoot` is associated with. +- Minimum requirements for any protocol implementing a _pseudo-account_. + +## 2. Ledger Entries + +### 2.1. `AccountRoot` Ledger Entry + +#### 2.1.1. Object Identifier + +The address of the `AccountRoot` must be randomised to prevent users from identifying and funding the address before its creation. The protocol that creates an `AccountRoot` must ensure the account address is unoccupied. + +The unique ID of the **`AccountRoot`** object, a.k.a. **`AccountRootID`** is computed as follows: + +- for (i = 0; i <= 256; i--) + - Compute `AccountRootID` = `SHA512-Half`(i || [Parent Ledger Hash](https://xrpl.org/ledgerhashes.html) || `ID>`) + - If the computed `AccountRootID` exists, repeat + - else, return `AccountRootID` + +#### 2.1.2. Fields + +| Field Name | Modifiable? | Required? | JSON Type | Internal Type | Default Value | Description | +| ------------ | :---------: | :-------: | :-------: | :-----------: | :-----------: | :---------------------------------------------------------------------------------------------------------- | +| `ID` | `N/A` | `no` | `string` | `HASH256` | `N/A` | The object identifier the `pseudo-account` is associated with. | +| `Flags` | `no` | `yes` | `number` | `UINT32` | `N/A` | A set of flags that must be set for a `pseudo-account`. | +| `Sequence` | `no` | `yes` | `number` | `UINT32` | `0` | The sequence number of the `pseudo-account`. | +| `RegularKey` | `no` | `yes` | `string` | `ACCOUNTID` | `N/A` | The address of a key pair that can be used to sign transactions for this account instead of the master key. | + +##### 2.1.2.1. `ID` + +The `ID` field uniquely identifies the ledger entry associated with an account. Any protocol introducing a `pseudo-account` must include a new, optional `ID` field. + +The naming convention for this field follows these rules: + +- `` represents the name of the related object: + - All letters must be capitalised if the name is an acronym (e.g., `AMM`). + - Otherwise, capitalise the first letter of each noun (e.g., `Vault` or `LoanBroker`). +- `ID` must always be appended as a suffix. + +##### 2.1.2.2. `Flags` + +The following flags must be set for a `pseudo-account`: + +| Flag Name | Flag Value | Modifiable? | Description | +| ------------------ | :--------: | :---------: | :---------------------------------------------------------------------------------------: | +| `lsfDisableMaster` | `0x01` | `No` | Ensure that no one can control the account directly and send transactions on its behalf. | +| `lsfDepositAuth` | `0x001` | `No` | Ensure that the only way to add funds to the account is by using a `deposit` transaction. | + + + +##### 2.1.2.3. `Sequence` +The `Sequence` number of a` _pseudo-account_` **must** be `0`. A _pseudo-account_ cannot submit valid transactions. + +##### 2.1.2.4. `RegularKey` +A _pseudo-account_ **must not** have a `RegularKey` set. + +#### 2.1.3. Cost + +A transaction that creates a `pseudo-account` must incur a higher-than-usual transaction fee to deter ledger spam. Additionally, the transaction must destroy at least the incremental owner reserve amount, currently `2 XRP`. + +#### 2.1.4. Invariant + +The following invariants **must** hold for a _pseudo-account_: +- The object identified by `ID` **must** exist on the ledger. +- Exactly one `ID` **must** be set (e.g., a _pseudo-account_ cannot have both `AMMID` and `VaultID` at the same time). +- The `lsfDepositAuth` and `lsfDisableMaster` flags **must** be set. +- The `Sequence` number **must** be `0`. +- The `RegularKey` **must not** be set.