Hey @bawtman thank you for your comment and warnings, they really made me think deeply about this topic. However, my intuition is telling me that that an optimum solution does exist using hash and keyed-hash functions primarily because the problem boils down to:
- Proving that a user has deposited x number of core-mint tokens in the y instance of the contract against which reserve-mints can be issued.
- Proving that a user has deposited a number of reserve-mint tokens in the b instance of the contract against which core-mints can be unlocked.
Both these problems are “trust-issues”, and the hash/key-hash functions were made to eliminate trust from the equation.
I’m currently working on the code to test this hypothesis and would love to hear your as well as the communities feedback on it once it’s done 