At what point are the funds "locked to your public key"? Is there a validation where the private key is required?
Discussion
You can check out the whole protocol specification as flowchart here: https://link.excalidraw.com/readonly/GEiWWmg1mVjQcjhD0GCJ?darkMode=true
However not every single step is implemented in the demo app yet. This whole idea is just a few weeks old and constantly evolving. I am trying to get a v1 release ready by the end of February