- Shield any and all ERC20s (NFTs soon) into a Private Balance
- Maintain a Private Balance
- Send tokens privately
- Use a Private Balance with ANY smart contract
3/13
That's a lot of bang for your buck for such a stunningly simple code integration.
But what's most interesting is the last feature β using a #Private Balance flexibly with any smart contract.
Let's unpack that a little bit. π¦
4/13
Any protocol (new or existing) that integrates RAILGUN through Quickstart SDK can now anonymize its smart contract function calls for users.
RAILGUN will always meet users where they already are β on the chains they love.
Picture this Anon: yield farming, lending, swaps, perps, and all the #DeFi degeneracy... but no one knows how bad of a trader you are or can see your #shitcoins. Truly a private DeFi utopia.
6/13
For example, if @CurveFinance chooses to integrate RAILGUN (!), you could swap, provide LPs, vote on gauges, earn trading fees, and do everything on #Curve without revealing who you are or how much you hold in your wallet.
Itβs easy with the RAILGUN Quickstart SDK.
7/13
#Private DeFi is particularly useful for funds and π³s who have to manage dozens upon dozens of wallets to counteract doxxing by services such as @nansen_ai.
Having your #identity revealed on chain is a big pain for everyone, especially institutional grade investors.
8/13
Rather than spending time and human capital and incurring risk by moving large sums between wallets, these actors can simply keep a single private balance with RAILGUN and avoid revealing their plays before they're ready cooking
9/13
β¦And this is just 1 of many uses for private DeFi.
Even if you're not a π³, privacy should be something you push for from all of your DeFi providers as NOBODY has the right to snoop or dox your finances.
10/13
Easy to implement #PriFi on services you already use is even better for you as a consumer.
If you don't have to substantially change your behavior in #DeFi whilst still remaining private, then this is what us in the business call a WIN-WIN. β β β
11/13
For the detail, check out our #Developer Guide on the Quickstart SDK and how you can implement it into your protocol.
If you care about #PriFi, reply with your favorite use cases for private DeFi. Top 3 best responses will receive a small π
If you're a #dev and like what you see and want to bring privacy to your users with RAILGUN, please DM @RAILGUN_project or send an email to mail@railgun.org and tell us a bit about your project.
13/13
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The guy who writes our threads is currently chained to the radiator, and we feed him based on increased follower count. So he might actually get some salt with his bread and water tonight.
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With recent advances in zk-STARKs the contributors to the Railgun Project are investigating and testing the use of SNARKs and STARKs. We are developing both systems in parallel.
2/ SNARKs are more efficient in verifier cost and proof size which are the key metrics for use in Ethereum smart contracts; leading to the lower gas cost estimate.
3/ If the tradeoffs on verifier cost and proof size prove to be minor we may elect to use STARKs in anticipation of an 'Eth 3.0' quantum secure upgrade in the far future.