Eric

Learn from Experience

[Eric @ericksans1]

@ConfidentialLyr Ready

[Eric @ericksans1]

@ConfidentialLyr Gg

[Confidential Layer @ConfidentialLyr]

Let’s reflect on how far we've come and how much we've achieved in such a short time. In case you missed our recent announcements and developments, here's everything you need to know about how we're making privacy accessible across all of Web3. 🧵1/7

[Eric @ericksans1]

@ConfidentialLyr Lfg

[Eric @ericksans1]

@ConfidentialLyr Nice

[Confidential Layer @ConfidentialLyr]

Privacy isn’t a luxury. It's a right. We are proud to announce that the Confidential Layer Bridge Testnet is now live!

Enhance your privacy by bridging your tokens effortlessly while keeping your assets intact. Take back control of your portfolio and keep your crypto truly confidential.

Join the testnet now: https://t.co/Sx4bVfRhtd

[Eric @ericksans1]

@ConfidentialLyr Great

[Confidential Layer @ConfidentialLyr]

Holding $CLONE will unlock access to affiliate rewards, discounts on Confidential Layer services, and reduced fees on cross-chain transfers.

Join us and be part of the movement making privacy accessible to everyone.

[Confidential Layer @ConfidentialLyr]

Guardians of the Privacy is live!

Start your journey here: https://t.co/xZQ7qtWuga
Travel through all portals, build your team, level up your character, and earn $CLONE along the way.

(Engaging with this Tweet earns points too!)

[Nano Trader @nanobot_trader]

If you follow me for a longer time you know I’m not saying things like that but: I’m super bullish on one upcoming crypto project 🔥 so I decided to introduce it a bit:

TLDR:
For those who are not fans of reading:
-⚙️Innovation in privacy focused cross-chain bridging and interoperability
-💪Top tier team behind
-💶Revenue share mechanics and other token utilities
-🚀Launch in 1 month (and still some opportunities to get on board)
-🤝 Good product-market fit
-🔥Huge potential

Confidential Layer $CLONE
Confidential Layer is a decentralized cross-chain protocol that enables private and secure transfer of crypto assets between public blockchains like Bitcoin and Ethereum, and privacy-focused blockchains like Zano or Firo.

Built on the robust Bridgeless L1 blockchain, it leverages cryptographic proofs and wrapped assets to ensure that while the initial asset lock is recorded on the transparent source chain, the actual asset details and transaction amounts remain hidden, preserving user privacy throughout the bridging process.

🤔In human language?
Confidential Layer is like a super-secure bridge for your crypto. It lets you move your Bitcoin or Ethereum to private blockchains where your transactions stay hidden, kind of like having a secret crypto account. It does this by creating a secret code that proves you locked up your original coins, but doesn’t actually reveal what or how much you’re moving. So, you get the best of both worlds: the security of big blockchains and the privacy of hidden ones.

Using this technology in combination with their pools they allow you to bridge between programmable blockchains (Bitcoin, Ethereum, Solana,...) and privacy chains.

🌉What kind of bridging does CL support?
According to the roadmap Confidential layer will initially support bridging from Ethereum, Base, Bitcoin to privacy chains like Zano or Firo. One month after the TGE they will add (for me personally) the most interesting feature: Bitcoin <-> Ethereum bridge. They plan to support most EVM chains and in the future also Solana and TON.

🔧Possible use-cases:
1) You're a high-net-worth individual concerned about security: You can move a portion of your Bitcoin holdings to a privacy blockchain, making it significantly harder for hackers to track and target your wealth but still preserving on-chain proof that your assets are stored somewhere.
2) You want to bridge your assets from Bitcoin to Ethereum and you’re interested in privacy. You check the checkbox “use privacy chain as a middle layer to bridge assets” making your bridge untraceable.
3) You want to use CL as a “mixer” so you send your assets to the privacy blockchain using Confidential Layer. You can then simply withdraw those assets using another wallet.
4) … (etc.)

Generally the larger your wealth is, the more you look for something like this.

🕵How Confidential Layer keep your assets secure and anonymous?
Confidential Layer doesn't expose the assets or transaction details on the Bridgeless L1. Instead, it utilizes a clever mechanism:

1) Asset Locking: When you bridge assets using Confidential Layer, you first lock your original assets on the source chain (e.g., Bitcoin, Ethereum). This lock is recorded on the source chain's public ledger, which is transparent.
2) Proof of Lock, Not Assets: Confidential Layer generates a cryptographic proof of this asset lock. This proof doesn't reveal what assets were locked or how much, only that a lock occurred according to specific parameters.
3) Minting on Privacy Blockchain: This proof is then relayed to the target privacy blockchain (e.g., Zano, Firo,...). The privacy blockchain verifies the proof and, if valid, mints equivalent wrapped assets representing the locked assets on the source chain.
4) Bridgeless's Role: While the initial lock is visible on the source chain's ledger, the Bridgeless L1 itself never receives the actual assets or specific details about them. It primarily facilitates the communication and verification of the proof between the involved chains.

In essence, Confidential Layer leverages the transparency of source chains for initial asset locking while maintaining privacy by transferring proofs, not assets, to the privacy blockchain. This way, the Bridgeless L1 doesn't contain sensitive information that could compromise anonymity.

More about bridging process and Shamir’s Secret Sharing:
https://t.co/e7cTuZeOhZ

💵Token utility
Confidential Layer has similar revenue share mechanics like $BANANA with one main difference - rewards are distributed between token staker (not between all holders). Stakeholders are eligible for 50% revenue share from Confidential Layer revenue and community pools.

In the future the team plans to launch a $BRIDGE (L1: Bridgeless) token and few side projects inside the ecosystem. $CLONE Stakeholders will be eligible for airdrop allocation in those projects.

By staking $CLONE you get also access to affiliate rewards and discounts on Confidential Layer services (mainly on fees)

🪙Tokenomics
Confidential Layer has a total supply of 1 bil. tokens with 15% circulating supply after the launch and around 2% of the supply inflation each month (linear for the next few years). Consider also the fact that the revenue share is distributed only to stakers (not vested token holders) so during the inflation only circ. supply will be eligible for revenue share.

According to the tokenomics it seems like 70% of tokens are reserved for community (airdrops, incentives, token sale, core contributors).

Details about tokenomics:
https://t.co/XeDfZkruiQ

They are still finishing their Docs so I made my own token inflation chart based on the data we have:

🚀Launch details
Launch should be approximately in a month (end of November or the beginning of December) and will take its place on DEX (Ethereum chain) using 4% of the supply (so probably with fat liquidity) 🤝

👨🏻‍💻Team behind
On the technical side the team consists mostly of https://t.co/QL0IQOShp5 & https://t.co/tZMSCs6UOe team members. Here is some of their previous work:
- https://t.co/C2OLbebdke
- https://t.co/HjPllfex3y

On growth, finance and partnership leadership, project coordinated by the Bridgeless team led by @cj_fund and his Cerebro Group team.

🧮A little bit of math to estimate potential
From what I know this project will launch around $30 mil. FDV at the end of November or the beginning of December. Let’s forget all the added value of CL (anonymization, privacy blockchain interaction,...) and consider only the situation 1 month after the launch when they launch Bitcoin <-> Ethereum bridge (where you can simply check the checkbox “anonymize” if you want to).

Confidential Layer estimated fee for the bridge will be around 0.2% (same as on Thorchain). If we take into account the daily volume of Bitcoin <-> Ethereum swaps on Thorchain we get $250 mil. = $91 bil. bridge volume yearly.

In the case CL gets 5% of Thorchain volume (which I definitely think it can) it’ll generate $9.1 mil. fees yearly with 40% revenue share on fees for stakeholders. Crazy. I’ll post a more detailed thread about CL benchmarks and potential separately later.

I know some of the devs behind and I can confirm they’re T1 developers with T1 contacts 🤝

🛍️Any way to get in?
If you’ve not been involved in community presales (there are no VC private sales or something) you still have a chance to participate in the public round (it’ll probably be announced in the upcoming days in their Discord group).

Except that you can participate on SocialFi airdrop campaign (and from what I know a good portion of supply is reserved for that):
https://t.co/EDN8H8J5i4

📚Resources:
Website: https://t.co/NSx86UXBex
Docs: https://t.co/e2EiGTOQ8d
Twitter: https://t.co/meszVN5iQd

Final words
It has been a while I’ve been bullish on something in a way I’m bullish on Confidential Layer. The team works hard and you still have a chance to catch some community rounds or airdrop campaigns.

I’m looking forward to the TGE and bridge launch and as always DYOR 🤝

----
Note underline: If you're curious - no, this is not a paid promotion just pure tech excitement 🙂

[Confidential Layer @ConfidentialLyr]

A new chapter in blockchain privacy is unfolding…
Can you guess what’s coming?

[Eric @ericksans1]

@nanobot_trader Nice project

[Eric @ericksans1]

@ConfidentialLyr Lfg

[Eric @ericksans1]

@ConfidentialLyr Lfg

[Nate Geraci @NateGeraci]

Now *900,000+* bitcoin held by US-listed ETFs…

4.3% of total btc supply.

Approx $60bil in assets.

$17bil net new inflows since January launch.

via @apollosats

[Watcher.Guru @WatcherGuru]

JUST IN: Five Spot Ethereum ETFs to launch on July 23, Cboe confirms.

• VanEck
• Invesco
• Fidelity
• 21Shares
• Franklin Templeton

[Into The Cryptoverse @ITC_Crypto]

#Bitcoin Price vs DXY 💫Join ITC Premium: https://t.co/stpWSCY9w9

[Wu Blockchain @WuBlockchain]

Federal Reserve Chair Jerome Powell suggested the central bank was focusing greater attention on when to cut interest rates now that inflation has resumed a decline and the labor market is showing signs of cooling off. More recent inflation readings “have shown some modest further progress, and more good data would strengthen our confidence that inflation is moving sustainably toward 2%,” Powell said Tuesday.
https://t.co/vefB6pDpS2

[Ki Young Ju @ki_young_ju]

#Bitcoin miner capitulation is still ongoing.

Historically, it ends when the daily average mined value is 40% of the yearly average; it's now at 72%.

Expect the crypto markets to be boring for the next 2-3 months. Stay long-term bullish but avoid excessive risk.

[Eric @ericksans1]

@anggaandinata Ngeri bang circ supply nya baru 1%, fdv udah hampir $1B