Given an activation code, there are two parts separated by the slash: the former being the private key and the latter being the address.
The address corresponds to the public key and the nonce.
Invitation code and activation code are the same things.
Activation
This documentation explains how the launcher activates an account using an invitation code for details on how the keys work, please refer to the source code.
Invitation code provided on account creation
An invitation code provided on account creation is stored temporarily in the memory.
The launcher merely stores them in this stage; it doesn’t do anything with them yet.
This also means the invitation code is lost if the launcher closes before the user launches the actual game.
Activation on the lobby page
After the preload is done, check if the user has already been activated.
If activated, the flow stops.
If not activated, check if there’s an invitation key stored in the memory.
If yes, continues.
If no, the form asking for the key shows up and waits for the user to provide an invitation key to be used.
Retrieve the nonce via activationKeyNonce(invitationCode: $encodedActivationKey) query.
Create ActivateAction via headless using the nonce from the step above and the invitation key itself, and sign and stage them.