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Flashnet executes complex actions (AMM pool creation, swaps, CLOB, escrow, etc.) without a general-purpose VM by combining three independent actors. The model deliberately splits authority so that no single party can move funds or mutate state.

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Why the Split Works

  1. Custody stays with the user until the very moment all validators agree the intent is valid; the TEE cannot act without the shards, and validators cannot act without the enclave.
  2. m-of-n secret sharing permits liveness with up to n − m offline or malicious validators while preventing sub-threshold collusion.
  3. Deterministic enclave code + remote attestation constrains the TEE to a publicly auditable state machine.
  4. Accountability means that any validator who withholds shards or signs a bad intent can be proven dishonest and penalised.

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Security Assumptions

  1. The enclave’s hardware isolation (e.g. SGX or Nitro) prevents key extraction; compromised hardware would be detected via failed remote attestation.
  2. At least m validators are honest and responsive; liveness requires this quorum.
  3. Spark finality ensures that once the tx is signed the state transition is immutable and can be sequenced to Bitcoin.

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Failure Scenarios