Complete Knowledge: Preventing Encumbrance of Cryptographic Secrets

Liquefaction is what you get when you ignore that and you actually have your airdrop key is itself inside of a TEE, which means that you can later put an auction on top of it or fractional.

You can fractionalize it out from under them by doing this TEE based encumbrance trick.

That's the kind of key notion of that liquefaction paper.