Reveal The Privacy Stablecoin $USDF
In 《Demystifying USDF: A Brief Introduction to Futureswap’s Native Private Stablecoin》, we introduced the basic information about the USDF, the first stablecoin in the Findora chain, but the privacy stablecoin features of the USDF were not discussed in detail. Findora announced deploying Prism++ to mainnet on April 24th, bringing a handful of performance improvements along with it. In this article, Futureswap explains how USDF can gain privacy attributes through Findora’s multi-chain architecture and Prism++ functionality.
A brief introduction to the Findora multi-chain architecture and Prism++
Findora is made up of two chains: a privacy chain optimized for ZK cryptography and an EVM chain for programmability and interoperability. The two chains are parallelized, meaning they share the same consensus mechanism, and are linked together by Prism.
Prism++ is an upgrade to Prism. Instead of supporting only FRA tokens, Prism++ allows any FRC-20, FRC-721, or FRC-1155 token to be transferred to the UTXO chain for confidential transfers. It is designed to be highly developer-friendly, with permissionless asset registration and transaction interfaces defined within the smart contract for ease of use. The bi-chain messaging capability enables direct communication between the UTXO and EVM chains, providing new opportunities for cross-chain interactions.
How does the USDF have Privacy Features？
USDF is built on the Findora blockchain, which features a multi-chain model with a privacy-preserving UTXO ledger and an EVM-compatible account-based ledger.
With Prism++, USDF on the EVM smart chain will be able to transfer to the Findora UTXO chain for confidential transactions. Findora UTXO chain currently supports private transactions that “Hide Amount” and “Hide Asset Type”, and Findora has announced that it will support private transactions that “Hide Address”, “Hide Amount” and “Hide Asset Type” in the future. This will perfectly hide the USDF’s transaction path.
While other stablecoins may track user information and transaction data, USDF will support anonymous and confidential transfers, providing users with a level of anonymity and security that is not available with other stablecoins. You will be able to choose to transfer your USDF tokens on the Findra chain, and will selectively disclose your transaction information, hiding your wallet address or the amount of the transaction.
This diagram shows the path of USDF moving from the EVM smart chain to the UTXO chain via Prism++ and conducting confidential transactions on the UTXO chain. Through privacy transactions in the Prism++ and Findora UTXO chains, the link between the 0x address that originally held the USDF and the 0x address that finally got the USDF is severed. This will perfectly protect the privacy of the USDF users.
Additionally, USDF does not require users to provide any personal information or KYC verification to access its benefits. This makes it an attractive option for users who value their privacy and do not want to compromise it for the sake of trading or investing in stablecoins. Don’t worry about compliance, because Findora is committed to combining privacy and auditability. Privacy doesn’t mean being evil.
By offering a low-cost, low-slippage solution for stablecoin trading with privacy at the forefront of its design, Futureswap and its native stablecoin USDF are making waves in the decentralized financial sector. Users of the Findora blockchain benefit from a level of privacy and security not offered by other stablecoins thanks to the flexible levels of privacy protection, including anonymous and confidential transfers, made possible by the blockchain’s distinctive architecture. For traders and investors alike who value decentralization, privacy, and reliability in their trading activities, USDF’s stability, transparency, liquidity, and privacy features make it an appealing choice. It will be fascinating to watch how USDF and the FutureSwap ecosystem develop to meet the demands of the expanding decentralized finance community as Futureswap continues to innovate and broaden its platform.
About Futureswap
Futureswap is a decentralized trading platform built on the Findora blockchain, providing a reliable, low-cost and low-slippage solution for stablecoin trading. Futureswap is a community-governed platform that incentivizes active participation through its governance token $FS, and features its own stablecoin, USDF, which is backed by a basket of underlying stablecoin assets. With a commitment to innovation and constant improvement, Futureswap is rapidly gaining recognition as a leading platform for stablecoin trading and management.
