Payment Lock Engine - CoverFi

The payment_lock_engine supports short-duration payment protection. The sender pays the recipient immediately and pays a premium. If the protected asset loses value by expiry, the recipient can receive a reserve-backed payout according to contract rules.

Responsibilities

Quote payment lock cost from a fresh oracle price.
Execute the payment transfer from sender to recipient during lock creation.
Collect premium and automation fee through the reserve vault.
Lock maximum payout capacity for the recipient.
Settle after expiry using an oracle observation at or before expiry.
Pay the recipient automatically through the reserve vault when payout is due.
Prevent duplicate reference hashes.

Main methods

initialize(admin, reserve_vault, oracle_adapter, payment_asset, payout_asset, premium_asset, max_oracle_age_seconds)
quote_lock(payment_amount, duration_seconds)
create_lock(sender, recipient, payment_amount, duration_seconds, reference_hash, partner)
settle_lock(caller, lock_id)
get_lock(lock_id)
get_user_locks(user)
pause(admin)
unpause(admin)

Flow

Boundary

Payment lock is separate from username payments. Username payments are plain wallet-signed Stellar payments with optional receipt anchoring. Payment lock adds a contract-defined value-protection path around a payment.