Timelock.space allows you to timelock inscriptions until a specified block height in a fully
self-custodial manner.
Once the timelock height is reached, the inscription can be unlocked via
⏳ My Timelocks.
Why Timelock?
There are no inherent benefits for timelocking your inscriptions. However, specific projects could provide incentives for timelocking. It can also be a fun way to HODL your inscriptions.
Why not Timelock
Infrastructure for timelocks is still primitive. As of now, tools such as Matrica will not be able to associate the timelock with your primary ordinals address.
Timelock Receipt Inscription
When you timelock an inscription, we will also inscribe a receipt inscription in the same transaction. The timelock address differs from your primary ordinals address, so the receipt inscription acts as a reminder and a link between your primary ordinals address and the timelock address.
Receipt inscription also shows the current status of the timelock. Status will update to UNLOCKED once the timelock height is reached.
Transferring the receipt inscription will NOT unlock the asset or transfer its ownership. Losing the receipt inscription WILL NOT affect the timelock.
Timelock Tapscript Format
<blockheight> CHECKLOCKTIMEVERIFY DROP <tweaked pubkey> CHECKSIG
Key path spending is disabled by using secp256k1 base point G for constructing the internal key as per BIP-341