A DRAFT BIP WANTS ONE STANDARD FOR CO-SIGNERS THAT EMULATE COVENANTS ON TODAY’S BITCOIN — EVERY POLICY KEEPS A WAY TO SPEND WITHOUT THE CO-SIGNER

Luke Carriere posted a draft BIP to Delving Bitcoin at 12:40 AM ET on October 10, 2026. It doesn’t change Bitcoin. It standardizes something people already do: a co-signer that only signs when a condition is met. As he puts it, that’s “a known way to emulate covenants today.”

The problem he’s going after is that everyone builds their own. Halseth’s blinded co-signers, Chain Code Delegation, bonded co-signers, and products like Liquidium and Lendasat each define their own policy. “A wallet built for one cannot use a co-signer or oracle built for another.” The draft is one policy format meant to work across them, and co-signers have to accept DLC oracle attestations, so existing oracles plug in as they are.

Two rules in it matter if you hold your own keys. “Anything script can enforce is required to be in script,” so the co-signer only covers what the chain can’t check itself. And “Every policy keeps a spending path that needs no co-signer.” If the co-signer disappears, the coins don’t go with it.

It’s early. Carriere isn’t asking for a BIP number, and there were no replies when we read it. He wants to know if this is the right layer to standardize, and whether the fallback path has to be timelocked. That last one is worth watching, since it decides how long you’d wait to spend without the co-signer. At the time of this writing, bitcoin was $82,758.