It’s Andrey from Incognito. Previously I showed up with the ambition of Making DAI a default stable coin on Incognito pDEX. This time I would like to show you how we anonymized $3.5M DAI.
There are a lot of discussions is going on around privacy and gas fee topics. I would like to share how we solved those two problems.
Let me pitch to you the wallet itself
Incognito wallet allows you to store, transfer, trade, and invest DAI anonymously. By anonymously I mean:
- Your wallet balance is encrypted (hidden)
- Your transaction history is encrypted (hidden)
- Sender & Receiver addresses are unlinked
- Your trading data is dissociated with your wallet address
- Your Liquidity Providing data is encrypted (hidden)
*Network fee for a transaction ≈ $0.00001 (possible to pay in DAI or PRV)
Here is how the wallet looks like:
And bring more light on technology stack behind
To achieve our goal of delivering cheap privacy we work towards 3 main directions:
- Privacy: Ring Signature, Confidential Transactions, Stealth addresses —>
- Scalability: POS, Sharding —>
- Interoperability: Non-custodial bridging—>
Why do I make this post
- Firstly, we DAI
- Incognito community decided that we should bring more usage of DAI into Incognito ecosystem and make it a major stable coin of the network
- Currently on the Incognito network used only 2M DAI and we aim to scale this usage up to 10% of DAI supply. (Ambitious, right? We believe if crypto wins - privacy wins)
Could you please give us your opinion on several questions:
- What do you think about the demand for privacy from DAI holders?
- Could Incognito be a solution that helps bring DAI into developing countries and/or remittance market (with close to zero TXs fee and full anonymity of transactions) ?
- Which project/ppl in the Maker ecosystem should we talk about our ideas?