Thread by @PinkPunks__

Today, I want you to ask yourself one question 🧵

How important is anonymity to you? 🔎

Data is the new oil, and keeping your prized financial/crypto data out of the hands of potential exploiters is imperative.

Let me tell you about @proxyswap

A thread on $PROXY👇

1/26

@proxyswap You guessed it!

WTF is @proxyswap?

TL;DR

Proxy is a private swap platform for (yep!) swapping tokens. Users can buy/sell tokens without ever revealing their MetaMask address. It utilises tech such as zero-knowledge proof (#ZKP) to keep the trade details confidential.

2/26

@proxyswap Essentially, Proxy allows you to swap any ERC20 token anonymously, breaking the link between you and the transaction on the Blockchain using ZKP and Relayer contracts.

It's a topic I feel has lost focus, and is completely underserved in the industry right now.

Privacy.

3/26

@proxyswap So, how does this all actually work?

Well first, I would recommend you reading up on Zero-Knowledge Proofs here:

ethereum.org/en/zero-knowle…

It's an old concept (1985) but it's application in a blockchain setting seems to be it's most compelling case yet.

4/26

@proxyswap "A #ZKP is a way of proving the validity of a statement w/o revealing the statement itself. The ‘prover’ is trying to prove a claim, while the ‘verifier’ is responsible for validating the claim".

Now think about the statement with respect to transactions, like a swap.

5/26

@proxyswap So with that in mind, and in the context of Proxy Swap, tokens are placed into a private 0zk wallet, hiding the wallet balance & amounts transferred.

Those values can only be viewed by the user & do not appear on the Blockchain for public viewing.

Untraceable, anonymous.

6/26

@proxyswap Now what about Relayer Contracts?

Well, these act as the middle man in the process, handling the transaction on the users behalf.

This breaks all links between the user and the transaction on the Blockchain.

Removing the ability for anyone to track the swap!

7/26

@proxyswap Now whilst this is great for individual users, it actually makes more sense on a commercial level.

Imagine you're a business that handles large volumes of transactions and/or operates in an industry where privacy is of particular importance.

Appealing huh? 🤔

8/26

@proxyswap Proxy Swap will give companies the freedom to carry out secure and anonymous transactions, obscuring prying eyes from sensitive financial information, maintaining the privacy business operations.

In the big picture, this will help prevent hacks and exploits.

9/26

@proxyswap Less hacks and exploits can only strengthen the industry and deter bad actors in the long run IMO.

That said, I could also see individuals (influencers) and businesses using this service to hide shady dealings, which obviously isn't great, but a use case is a use case.

10/26

@proxyswap Using @proxyswap is about as easy as you can imagine.

Anyone familiar with DEX's will need no explanation, but this video below gives a short tutorial on how to use the platform:

vimeo.com/806239477

The UI is simple, concise and intuitive 💡

No more, no less.

11/26

@proxyswap In terms of the UX, again, it's simple.

We don't need bells & whistles, just the core functionality, so not to confuse users.

Crypto is daunting enough, so making the user journey as easy as possible is crucial.

Proxy does just that.

Clean design, clean experience.

12/26

@proxyswap There are "levels" i.e. tiers available when using the platform.

This is essentially a way for Proxy to reward token holders with benefits & privileges.

Each "level" has different perks available & we'll run through them below.

Level 1 - 💍
Level 2 - 💎
Level 3 - 👑

13/26

@proxyswap Level 1 💍
Open to all $PROXY token holders and supporters.
It includes access to basic features and the ability to conduct a limited number of private swaps per day.

Level 2 💎
Reserved for holders of more than 100,000 $PROXY tokens.
Includes unlimited swaps per day.

14/26

@proxyswap Level 3 👑
Reserved for holders of more than 1,000,000 $PROXY tokens.
Access to upcoming Mobile App.
Early access to the $PROXY staking platform.

In this tier you also receieve a custom 💎 badge, cute.

Right now, the fees are temporarily 0% (just gas).

15/26

@proxyswap V2 of @proxyswap went live on March 9th! ☑️

For a limited time everyone has access to the service, regardless of whether you hold the native tokens or not.

This has been months in the making, not some bodge job, so go ahead and give it a try!

https://twitter.com/proxyswap/status/1639345127989604353?s=20

16/26

@proxyswap So what's next for Proxy?

To me, their focus should be on adoption & getting people to use the product.

That said, the roadmap is full and token holders are being prioritised.

Launching of the Mobile App will be the next key milestone & a step closer to more adoption.

17/26

@proxyswap There are plans to add & support other chains to the protocol, in addition to Ethereum (which is the only chain supported now).

This will help in adding more swaps to the service, not just limited to tokens on @Uniswap

Expect more marketing now that the product is live.

18/26

@proxyswap @Uniswap An independant security firm Nebula completed an audit on Proxy Swap, finding zero bugs or vulnerabilities in the system.

Available to review below 👇

3227126827-files.gitbook.io/~/files/v0/b/g…

19/26

@proxyswap @Uniswap The native token in $PROXY. The more you hold, the higher the level/tier which will give you access to more features (i.e. unlimited swaps & staking).

Tokenomics 💰

- Total Supply: 100M
- Circulating Supply:
- Development - 2M
- Marketing - 2M
- Treasury - 1M

20/26

@proxyswap @Uniswap Looking at the chart, there seems to be a strong support at $400K MC.

There are ~600 holders and whilst volume is relatively low, we know how fast things can change with small/micro caps.

$PROXY is listed on both @CoinMarketCap & @coingecko!

coingecko.com/en/coins/proxy…

21/26

@proxyswap @Uniswap @CoinMarketCap @coingecko I like that the team have taken their time to only really push and market the project once they have something to show for it.

Now, if you're still reading, here's the alpha 💰

@proxyswap are in talks with another anonymous project about a partnership!

Any guesses who?

22/26

@proxyswap @Uniswap @CoinMarketCap @coingecko I think all the project needs right now is more eyes, awareness & recognitition & you know how quickly products & projects can spread like wildfire, when finding a captive audience.

I'll be using the product to be more concious and protective of my financial data.

23/26

@proxyswap @Uniswap @CoinMarketCap @coingecko Thanks for reading and I hope you enjoyed.

I'm glad I came across @proxyswap when I did, as I'm definitely making more swaps/trades than ever before.

The only limitation to me is the lack of other chain integration but that is soon to change.

Will you be using $PROXY?

24/26

@proxyswap @Uniswap @CoinMarketCap @coingecko Here are all the links below:

A really great community and I've been made to feel very welcome in the Telegram!

🖥️ proxyerc.com
🐦 @proxyswap
☎️ t.me/proxyswap
📊 dextools.io/app/en/ether/p…

Thanks for reading!

25/26

@proxyswap @Uniswap @CoinMarketCap @coingecko Tagging some $PROXY frens and fellow threadoors 👇

@DefiIgnas
@SherifDefi
@RiddlerDeFi
@monosarin
@hc_trades
@EricCryptoman
@LouisCooper_
@realdogen
@chirocrypto
@ChadCaff

OK, byeeeeee!

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