Raze Networ uses zero-knowledge proof technology to provide anonymous payment services for the Polkadot ecological DeFi field. Its basic operating logic is to use smart contracts to mint new privacy tokens from the basic tokens.
Written by: Holmes
The development of the industry has brought a considerable amount of traffic and users to the emerging asset of cryptocurrency, but with the improvement of user awareness, the “transparency” of most native blockchain networks has become a new anxiety for market participants. source. The excessive transparency of identity, behavior and interactive content on the chain has stimulated the urgent need for privacy in the market.
Because of this, coincident with the DeFi boom, the well-known privacy coin project technology continues to introduce new technologies to upgrade the brand. New privacy payment and privacy computing projects are also emerging in the new public chain ecology and new application scenarios. On March 9th, the Polkadot ecological cross-chain privacy middleware protocol Raze Network, which aims to provide end-to-end anonymous payment services, announced the completion of the seed round of financing.
What is Raze Network?
Raze Network is a cross-chain privacy middleware protocol developed based on the Substrate framework. It aims to maintain cross-chain audit transparency and at the same time provide end-to-end anonymous payment services for the entire DeFi field in the Polkadot ecosystem through zero-knowledge proof technology.
Raze Network CEO Justin Kellison believes that the privacy of current Internet users has not been effectively protected. In addition to large amounts of data being misused by large companies such as Facebook and Google, various cyber attacks such as dust attacks also make users’ identity activities traceable and easy. Lead to the occurrence of phishing scams. Among them, the user’s money payment behavior data is the most sensitive, so its confidentiality is very important. Raze Network is committed to bringing privacy protection into the DeFi ecosystem that is currently the most popular in the entire encryption world and is also the strongest financial attribute.
The core technology module of Raze Network is the second layer of anonymous payment in the DeFi ecosystem. This module will be imported as a Substrate-based smart contract and will be used as Polkadot’s universal plug-and-play infrastructure, allowing users to hide their account addresses and financial information before joining DeFi. Since the Zether framework supports the Ethereum account model, the Raze contract will support tokens issued in the Polkadot ecosystem (such as DOT and Kusama) and ERC-20 cross-chain private payments, thereby significantly increasing the liquidity of the Polkadot ecosystem. The goal of Raze Network is to enable cross-chain privacy protection payment and DeFi systems, while protecting the transparency of assets and behavior from surveillance. Ultimately, Raze Network can anonymize all cryptocurrencies on all chains.
The basic operating logic of Raze Network is to mint new privacy tokens with the basic tokens of the contract at a ratio of 1:1. It has three technical capabilities:
- Minting: Convert any token into an anonymous version of itself.
- Exchange: Convert anonymous tokens back to their original format.
- Transfer: Enable anonymous transfer of tokens to hide the identity of the sender and receiver and the amount sent.
In other words, users can directly use the “Minting Module” on the platform to mint privacy tokens at a ratio of 1:1, and use its services in a completely anonymous manner. For example, connecting to Uniswap, Aave, Compound or any other DeFi protocol, and then using its service in a private way, this can be done by using the “transport module”. After the task is completed, the user can use the “Exchange Module” to exchange the tokens back to their normal state. Locking and unlocking modules facilitates access to various DeFi ecosystem functions.
Raze Network uses the zkSNARK zero-knowledge proof scheme, which does not require any trusted settings. All public parameters of the Raze system can be randomly sampled from the basic group in a completely transparent manner, which is more consistent with sound network design and decentralization. Users can use Raze Network to realize the privacy of transactions on the chain by hiding the identities of related parties, transfer amounts, account balances, and hiding the entire transaction history. Compared with other privacy protection protocols applied to DeFi, the scope of RAZE use cases is larger. Using Raze Network, users can connect to any DeFi or Web3.0 application in a completely safe and private manner.
Team background
The core developers such as Ryuhei Matsuda and Jark LingMicheal Andersen of the Raze Network team have both engineering and academic backgrounds. They have a deep understanding of zero-knowledge algorithms and use zkSNARK technology to engage in Ethereum development. They are also rich in the design and implementation of trust-free zkSNARK solutions. Expertise.
Application scenarios of Raze Network
Specifically, the products and application scenarios currently developed by Raze Network are as follows:
- Private transactions: Users can use Raze Network token RAZE to enhance the privacy of on-chain transactions between the recipient and the target address, and transfer any tokens between any chains.
- Secret DeFi Bridge: Since RAZE is compatible with all DeFi products, users can hide transaction history. It is fully compatible with Uniswap, AAVE, Compound and DeFi ecosystems on Polkadot and Cosmos
- Anonymous mining: Users can mine RAZE in a truly private way. Access to the liquidity pool is always anonymous and secure.
- RazeVM integration: Developers can use open protocols to implement privacy protection functions, so that they can access all decentralized applications.
Raze Network CEO Justin Kellison said that Raze Network has the infinite and seamlessness of connecting DeFi or Web3.0 products and using RazeVM to extend existing Dapp functions, creating private tokens to make invisible privacy and tradable encryption friendly and using Substrate The three major advantages of the framework: decentralization and interoperability. In addition, because Raze Network’s virtual machine is compatible with EVM, it also supports use with Ethereum Dapps and services. RAZE will also work on cross-chain bridges and cross-chain AMM protocols in the future, which will help map ERC20 tokens on Polkadot and take advantage of its rapidly growing DeFi ecosystem.
The economic model of the native token RAZE
The total supply of RAZE is 120 million. In addition to leaving 28% for team consultants and operations, the three rounds of seed private placement and public placement of the tokens of 23.5% and 8.5% of the community governance pool will have 40% of RAZE as a liquidity reward to obtain The huge liquidity of the DeFi ecosystem on Polkadot and Ethereum. A certain percentage of transaction costs are burned in the form of RAZE tokens to ensure a limited supply of tokens.
Raze Network’s native token RAZE plays a core role in the ecology. Its value is mainly reflected in privacy protection, participation in project governance, and can be used as a medium of exchange within the ecology and used for liquidity incentives.
Development roadmap
Raze Network has just completed its seed round of financing, and its investors include Signum Capital, AU21 Capital, CMS Holdings, Master Ventures, Spark Digital Capital, PNYX, Moonwhale and Flurry Capital. The team is working hard to develop the first privacy product Multi-chain Privacy Cloak, open source code in the second quarter of this year and start the token public offering and liquidity mining plan, release the agreement and products in the third quarter, and realize the DeFi protocol cross-chain bridge in the fourth quarter Connect and integrate more customized functions.
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