Incognitee: Privacy Sidechains (Soft Loan Q3'24)

After rejection of ref 868, Integritee has evaluated the feedback and adapted its request strategy

This proposal is for the upcoming milestone "Test Emergency Interventions on Paseo" and shall cover our work in Q3'24 towards productive privacy sidechains for DOT, KSM, USDT, USDC and others.

187’050 CHF ≃ 208’841.32 USD ≃ 208’841 USDT

• Full Proposal Document
• initial discussion post
• approved previous DOT Treasury retroactive funding (ref 617)

What

Private transactions of DOT, KSM, USDT, USDC

There simply is no other project in the Polkadot ecosystem (an elsewhere in web3!) offering our level of privacy and convenience:

• single click shielding and unshielding
• fee payment in same token
• 1s confirmation time for private transfers (viable for point-of-sale payments)
• horizontally scalable to > 1M tps through sharding of L2

The privacy enhancement by using Incognitee will give you strong privacy on L2 and k-anonymity on L1 which is best for moderate amounts

Please note that Incognitee aims for compliance. We want to bring privacy to the masses, not to protect criminals.

Try it now on our Paseo testnet: https://try.incognitee.io

Soft-Loan

We consider this a soft-loan which we will pay back to the treasury with a fraction of fee revenues which each shard of Incognitee earns as long as the target token is present on the Polkadot Asset Hub and can be spent by the treasury. We commit to sending 30% of our gross fee revenue back to the treasury automatically and regularly until we have repaid the soft-loan plus a one-off premium of 10%.

Context

• NEW brenzi's Incognitee presentation at decoded 2024
• Private Transactions on L2 for all Polkadot Chains | Polkadot Decoded 2023 talk by our CTO brenzi: video recording
• Why Privacy Matters And What Integritee Can Do About it | Polkadot Now India talk by our CTO brenzi: video recording

brenzi also appeared on AAG to explain the previous proposal