OP_VAULT IS a terrible idea
https://www.reddit.com/r/Bitcoin/comments/11so39n/op_vault_is_a_proposed_upgrade_to_bitcoin_you_can/
Discussion
What concerns do you have? The post you linked to says that a problem is that people have to secure their backup keys. Later in the thread, people raise the common concern with covenants about them being used to put restrictions on withdrawals, which has been debunked.
This concerns, OP_vault can be miss used by exchanges will harm individual users. Is it possible?
https://www.reddit.com/r/Bitcoin/comments/11so39n/comment/jcfzezr/
no, its not possible for an exchange to push conditions into your coins. Your wallet has to commit to the conditions to generate the address
The original reddit post meant that OP_VAULT could be misused as a new type of multi-signature. The correct way to use it is to have both paths belong to one party. But there is a possibility of misuse, one paths belongs to the exchange and one path belongs to the user. Exchanges will promote such addresses on their apps and wallets, and this promotion is easy