Roadmap & What has been done so far?
First of all, we are still launching our revenue sharing. All revenue will be split 50/50 between Ronin NFTs and $RED and then distributed.
To make the whole thing possible we directly entered a partnership with TFL. As a basis we will use TFL's dAPP @enterprise_dao, which gives us and you the possibility to manage the whole DAO easily. After discussions with Enterprise, revenue sharing is now being implemented (will be ready early Feburary 2023) — so we and especially YOU have the assurance that all funds as well as proposals are safe thanks to an audit of all contracts used directly by TFL. We will then send any revenue from redacted directly to the $RED/$RONIN treasurys via Warp, so it can be distributed directly to you.
Completely autonomous. So we give up any power over the two treasurys.
REDACTED DAO is born.
*'█' will be removed within the next few day's
We have noticed that the shutdown of Knowhere on February 15, 2023 will tear quite a hole in the NFT market/community on Terra. Therefore we decided to acquire and bring back ██████████████ "█████". █████ will now be revived by us on Terra. So you can sell/buy and trade your NFTs on █████ soon in the future. Look forward to the best UI/UX on Terra.
Since the contracts and everything else already exist on █████ , we don't have to do all the work and only have to migrate/adapt the contracts to the current version and improve them.
But the best is yet to come - it won't stay only with NFTs on Terra. Since we are on the way to deliver an interchain privacy solution anyway, there will also be an interchain NFT solution. Users of all supported chains can easily migrate their NFTs to Terra and sell/buy and trade them on the marketplace (of course this also works vice versa).
In August 2022, the Office of Foreign Assets Control (OFAC) imposed sanctions on wallet and smart contract addresses associated with Tornado Cash, citing concerns that the service was being used to launder billions of dollars. This raised concerns about the security and trustworthiness of all privacy dApps, and highlighted the need for additional measures to prevent bad actors from using it for illegal purposes.
That is where the “Proof of Innocence” protocol comes in. This innovative tool builds upon the existing capabilities of Redacted and allows users to prove that their deposits are not from sanctioned or blacklisted addresses. By providing this proof, users can show that they are not hackers or other bad actors, and can make withdrawals from Redacted with confidence. This not only improves the security and trustworthiness of the system, but also helps to protect legitimate users from being associated with illegal activities, without sacrificing their privacy.
The “Proof of Innocence” protocol adds an additional layer to this process by allowing users to prove that their commitment is not in a given list of commitments. This helps to ensure that the user is not a hacker or other bad actor who has been sanctioned or flagged for illegal activities.
To create this proof, the user provides the blacklisted commitments and constructs a Sparse Merkle Tree of this blacklist. This allows the user to easily and efficiently prove that their commitment is not in the blacklist. This proof can then be verified by anyone.
'Proof of Innocence' using the example of Bob
We plan to deliver an interchain privacy solution that is going to provide a use case for people using all sorts of chains being routed through Terra and thereby driving volume, which offers anonymous bridging. The benefit to our own community will be the newly accessible liquidity that can provide both privacy value and incentive value.
Someone could use our privacy smart contract from ETH -> ETH, and it would still benefit the Terra community by adding to volume, liquidity and TVL on top of adding to the reward pool for the redacted community.
- This will also allow other projects to offer or utilize anonymous cross-chain payouts, further providing value to the Terra community by expanding possibilities for other builders.
- Off-chain deposits improve the anonymity set for users trying to redact their assets, improving privacy for Terra redactors especially.
- TVL on Terra would be increased by allowing off-chain deposits into on-chain utility.
- Our analysts have found that privacy and decentralized finance has become one of the hottest topics in today’s world. Users are increasingly aware of how their data is being used, and thus want to be very careful with their finances. Further adding to the point of increasing TVL.
Summarized steps to the finished cross-chain privacy solution:*
- 1.Update our current project structure to make everything easier, faster and cheaper.
- 2.Develop Terra contracts for coins that we want to support. (i.e. axlUSDT, axlUSDC,...)
- 3.Update backend and frontend for supported coins (i.e. axlUSDT, axlUSDC,...)
- 4.Terra contract for monitoring funds from the bridge.
- 5.Develop smart contracts on each chain¹ for sending funds to our Terra contract.
- 6.Update backend for EVM chains.
- 7.Integrate all supported wallets for each chain.
- 8.Integrate bridge API or SDK with our application.
*These steps are not finalized yet and are up to change.
Introducing ██████ █████████ why we started out on Terra. ███████████████████████████████████ was stolen from us by ██████████████████████ ███████████ in cooperation with ██████████████████████ reintroducing ██████████████ stable unpegged cryptocurrencies backed by an index of tokens and assets lacking the volatility of the crypto market. Engineered to kill █████████████ and withstand ███████████████ from ████████ we present ███████████. For truly decentralized money in the next generation of ██████████████████.
We received 45,021 LUNA from the Emergency Builder Allocation. Without this grant, things would have gotten rocky since most of our remaining runway was in aUST (Terra Classic) at the time of depeg. Without this grant, it wouldn’t have been possible for us to finish what we started. We wanted to set a standard as the only privacy solution on Terra, which we can now proudly claim to be.
Thus far we have developed:
Smart contracts for,
- zK-based redacting
- Staking for $RED; with staking for Ronins to follow soon
Scripts including but not limited to,
- APY calculator for accuracy in user rewards
- entropy calculator based on anonymity set in smart contract
A webapp for,
- Staking $RED
- Depositing and Withdrawing $LUNA from our privacy smart contract (soon to be followed by other tokens)
- Dashboard for $RED statistics, reward pool and Airdrop