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Decentralized Finance (DeFi) in the Polkadot ecosystem is still in its infancy. As a new industry, ensuring that industry participants can guarantee that their actions remain private is essential to the long-term success and prosperity of DeFi. Raze Network will serve as the vital privacy infrastructure for DeFi in the Polkadot and the cross-chain ecosystem. Raze Network will not only preserve privacy within DeFi and Web 3.0, but will also significantly enable deeper liquidity for the Polkadot ecosystem. While there are several Substrate-based privacy-preserving solutions building within this ecosystem, our proposal is unique in the following ways:
- The Zether framework is designed for the Ethereum account-based model, and hence it naturally facilitates the cross-chain private payment of ERC-20 tokens in the Polkadot ecosystem. Since all the aforementioned smart contract modules are supposed to be imported as Substrate-based modules, they will also be compatible with the tokens issued in the Polkadot ecosystem, such as DOT or Kusama. Put simply, Raze will improve the liquidity of Polkadot due to its cross-chain interoperability with chains such as Ethereum.
- Our product is built to be homogenous in the DeFi/Web 3.0 space, meaning that our vision is for Raze Network to support all DeFi products in the Polkadot ecosystem. Additionally, Raze also supports anonymity mining, a vital liquidity function of DeFi. In contrast, other privacy solutions are focusing on more narrow objectives, such as developing decentralized exchanges (DEX’s). While we believe this is also required in the space and support these projects and their objectives, this approach limits the scope of these applications.
- From a technical perspective, the underlying zero-knowledge proof schemes for other privacy solutions require a trusted setup, and hence, require trust ceremonies. In contrast, Raze Network’s zero-knowledge proof schemes do not require any trusted setup. All the public parameters of our system can be randomly sampled from the underlying group in a totally transparent fashion, which aligns our project with the overall goal of both sound network design and decentralization.