Greetings from the Kusama Shield project,
We are happy to announce a new version is live and we got some exciting news! Using a Zero Knowledge powered p2p protocol over at base we are able to provide:
Wise, Revolut, Cash App, Venmo, Monzo, IDFC First Bank, Luxon Pay, Alipay, Mercado Pago, Paypal
Fiat offramps for DOT without KYC, logging or nosey middle man sniffing around.
Thanks to an integration with zkp2p aka peer aka peerlytics(according to some devs there they offramp around 1m in volume per month), The offramping works relatively simple:
1 - User bridge DOT to USDC on Base
2 - User places a “offramp my USDC to fiat X” order
3 - Some real human sees order and fullfills it, making a Zero Knowledge proof to confirm this(proving that they sent the fiat payment but not revealing person data such as Date of Birth etc etc)
> What happens if no one fulfills my order?
Order will be marked as expired and returned to sender
Here is a video demo of offramping 15 usd in DOT to revolut:
https://x.com/i/status/2048480674336911808
(This video assumes you have an ethereum account with dot on it, if your tech savvy then take ur eth address add(+) 24 ‘e’ and send it like an accountid32 balance transfer)
But we have a lot more in stock!
The shielded pool with our new ZK logic is live on Polkadot!!
And compatible with 3 types of assets:
Native token on the Hub($DOT)
Erc20 tokens
Pallet assets tokens(USDT/USDC/Billcoin etc), via the revive precompile we are able to talk with Pallet assets via the smart contract, unlocking lots of usecases and abilities, which we are really hyped about ;D
Why deploy on Polkadot?
We want to access stable coins on Polkadot(USDC/T) and other assets that we can not access in Kusama until a future runtime upgrade and we can access the foreign assets , so while we wait fior that we want to proceed and support stable coins, being able to hold stable coins privately as a business and/or as an individual is a huge win. Being able to shield all assets of Polkadot(as of right now we support 3 types of assets, Native asset, erc20 tokens and pallet assets assets).
Why is Kusama Shield awesome(better) compared to the leader in privacy Zodl/Zcash app?
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Businesses don’t want to hold Zcash, they want to hold stable coins, which via the pallet assets precompile can be deposited into the shielded pool just like ANY OTHER polkadot asset.
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Offramps - Now live with offramps in the same Interface
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Faster settlement - 2 second confirmation times
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More network options than Zodl
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Zcash App will always only have one feature - Shield ZEC, meanwhile we can shield pretty much anything, nft’s, lots of assets,
Polkadot and Kusama Community!
We need your help! In order to help us get more transactions into Polkadot space, please try the app, let us know what you think and if you like the application, it would help us a lot by giving us a positive review on Kycnot.me: https://kycnot.me/service/kusama-shield
Also help the project be the best privacy app in web3 by reporting bugs and what you think we should improve by filing an issue here:
Offramping - we wanted offramping to suck a bit less, no kyc, no annoying sign ups, no marketing emails.. No downloading extra walelts.. A long time we been looking at zkp2p(more to come sson as exciting news about that )
Other exciting stuff:
Multi withdrawal:
We have upgraded our Zero Knowledge logic to support multiwithdrawals, before if you deposited 10 usd you had to withdraw 10 usd, now you can deposit 10 usd, withdraw 2 USD. Wait and get lost in the crowd and then at a unknown future date you can withdraw 8 usd or 5 usd without having a link in between.
Relay support - Get unique withdrawal addresses every time. Due to some strange new upgrade, before the smart contract able to
In a true world that embrace web3 values, we should not need to rely on centralized parties that squeeze us for KYC. Enjoy the new version, help us out by letting us know what you want to see improve.
Cheers
~ flipchan
ps.
And for god sake: Follow Kusama Shield on X for latest news: