chasing

4 months ago

@kolscan 😭

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4 months ago

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chasingxs retweeted

4 months ago

Trading terminals are a huge market and there's significant amounts of volume going into trading every day, but less volume going into traditional privacy transactions (shielding and unshielding). We recognized this early and believe privacy should advance beyond traditional actions like deposit, withdrawal, and transfer. The end goal is a fully onchain, decentralized way to wrap any transaction so it can interact with any public smart contract without giving up privacy. We want to build a new class of utility and productivity to idle shielded capital: fully composable private defi. The private user experience needs to offer clear, meaningful advantages over using public DeFi applications. Currently, public apps have significant moats that we need to solve. These include speed, better CU efficiency, and scalability. 1. Speed: Public apps will always win in terms of execution speed. This is mainly because every private transaction requires a zero-knowledge proof to be generated and attached inside the transaction before its sent. However, the time it takes to generate a ZK proof can be significantly minimized through the use of GPUs. Modern GPUs are the fastest way to generate a ZK proof, and, with access to the next-generation GPUs, we can bring the ZK proof generation time down to 100ms for note spends or even faster if we invest more in our proving infrastructure and it scales predictably by adding more GPU compute. 2. Better CU Efficiency: Even after the proof is generated, it still has to be verified onchain, which adds a fairly fixed compute cost of around 200K CU on top of whatever the underlying DeFi action costs. For example, a private https://t.co/A4DKqPkpNC swap might use roughly 200K CU for proof verification plus about 119K-243K CU for the swap itself, putting the total around 500K+ CU. That is workable, but also not optimal during times when the Solana blockspace gets incredibly busy, making private swaps less competitive than public swaps that consume less compute. One way to solve this issue is by paying a higher priority fee, so this constraint is something to be aware of, and not a true blocker. 3. Scalability: Every private spend needs a way to prove the funds were only spent once. Public DeFi gets this for free because account balances update onchain and validators enforce it. In a privacy system, you need an extra onchain marker, called a nullifier, that flags a note as already spent without revealing who spent it. There are a few ways of doing this, and one common approach, like Tornado Cash, is to create an onchain account and fund its rent for every spend and use its existence as the record that the funds are spent. Building a privacy protocol is a challenge we're excited to take on. We believe in the growth of onchain privacy and we also believe in https://t.co/A4DKqPkpNC. Launching through Pumpfun following its ICM model aligns with the exact model we want to support. We want to be the first team to turn a https://t.co/A4DKqPkpNC ICM launch into a sustainable, revenue generating business, and in doing so, motivate more times to build privacy preserving projects powered by zero-knowledge proofs.. Monero-chan plays a pivotal role in achieving our vision, read the quoted tweet below for more details. 🧡

MoneroChanSOL's tweet photo. Trading terminals are a huge market and there's significant amounts of volume going into trading every day, but less volume going into traditional privacy transactions (shielding and unshielding).

We recognized this early and believe privacy should advance beyond traditional actions like deposit, withdrawal, and transfer. The end goal is a fully onchain, decentralized way to wrap any transaction so it can interact with any public smart contract without giving up privacy.

We want to build a new class of utility and productivity to idle shielded capital: fully composable private defi.

The private user experience needs to offer clear, meaningful advantages over using public DeFi applications.

Currently, public apps have significant moats that we need to solve. These include speed, better CU efficiency, and scalability.

1. Speed:
Public apps will always win in terms of execution speed. This is mainly because every private transaction requires a zero-knowledge proof to be generated and attached inside the transaction before its sent. However, the time it takes to generate a ZK proof can be significantly minimized through the use of GPUs. Modern GPUs are the fastest way to generate a ZK proof, and, with access to the next-generation GPUs, we can bring the ZK proof generation time down to 100ms for note spends or even faster if we invest more in our proving infrastructure and it scales predictably by adding more GPU compute.

2. Better CU Efficiency:
Even after the proof is generated, it still has to be verified onchain, which adds a fairly fixed compute cost of around 200K CU on top of whatever the underlying DeFi action costs. For example, a private https://t.co/A4DKqPkpNC swap might use roughly 200K CU for proof verification plus about 119K-243K CU for the swap itself, putting the total around 500K+ CU. That is workable, but also not optimal during times when the Solana blockspace gets incredibly busy, making private swaps less competitive than public swaps that consume less compute. One way to solve this issue is by paying a higher priority fee, so this constraint is something to be aware of, and not a true blocker.

3. Scalability:
Every private spend needs a way to prove the funds were only spent once. Public DeFi gets this for free because account balances update onchain and validators enforce it. In a privacy system, you need an extra onchain marker, called a nullifier, that flags a note as already spent without revealing who spent it. There are a few ways of doing this, and one common approach, like Tornado Cash, is to create an onchain account and fund its rent for every spend and use its existence as the record that the funds are spent.

Building a privacy protocol is a challenge we're excited to take on. We believe in the growth of onchain privacy and we also believe in https://t.co/A4DKqPkpNC. Launching through Pumpfun following its ICM model aligns with the exact model we want to support. We want to be the first team to turn a https://t.co/A4DKqPkpNC ICM launch into a sustainable, revenue generating business, and in doing so, motivate more times to build privacy preserving projects powered by zero-knowledge proofs..

Monero-chan plays a pivotal role in achieving our vision, read the quoted tweet below for more details. 🧡

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4 months ago

@ieatjeets $monerochan

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chasingxs retweeted

4 months ago

Ghost Protocol will launch with its core privacy and trading features. We have a ton of growth features planned like referral program, pnl cards, social id are already built, but we're going to hold them for a follow-up update to keep our development scope tight and ship the core protocol sooner! Ghost's core privacy features: - private deposit and withdraw - private note actions (split, merge, transfer) - private swap on Pump tokens - private note recovery and sync - real time token quotes - zk proofs generation - transaction relayer - onchain groth16 verification - $MONEROCHAN tokenomics What more do you need? 🧡

MoneroChanSOL's tweet photo. Ghost Protocol will launch with its core privacy and trading features.

We have a ton of growth features planned like referral program, pnl cards, social id are already built, but we're going to hold them for a follow-up update to keep our development scope tight and ship the core protocol sooner!

Ghost's core privacy features:
- private deposit and withdraw
- private note actions (split, merge, transfer)
- private swap on Pump tokens
- private note recovery and sync
- real time token quotes
- zk proofs generation
- transaction relayer
- onchain groth16 verification
- $MONEROCHAN tokenomics

What more do you need? 🧡

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4 months ago

@LobstarWilde

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4 months ago

@downsin 😭

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4 months ago

@ghostdottech @MoneroChanSOL Pls gib

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chasingxs retweeted

4 months ago

Ghost Protocol waitlist is now live: https://t.co/hyDO8S1RD2 We are the only team to achieve an atomic, onchain private swap, powered by: ZK proofs, preserving mixer pools, and trust-minimized relayer execution. This year, the goal is to drive privacy adoption on Solana by making decentralized, private trading effortless and reward users who choose privacy. Reply with proof of your waitlist for faster access! 👇

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4 months ago

@a1lon9 Monerochan

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chasingxs retweeted