Good evening,
I would like to provide you with an update on the progress of the 0x0 exchange. Before diving into the details, I want to emphasize that our primary focus at the moment is the completion of the Arcane wallet. This decision is driven by several key factors:
1. Mainnet Release Ease: By fully developing the Arcane wallet first, we are laying the foundation for a smoother mainnet release of the entire exchange.
2. Increased Rewards: Holders of 0x0 tokens will benefit from increased rewards generated by the wallet's transaction volume, even as we continue building the full exchange.
Our current efforts are concentrated on refining the user interface (UI) design of the Arcane wallet and subsequently the 0x0 exchange itself. We will be transforming our website to align with our vision of becoming a revolutionary privacy exchange. I'm pleased to report that progress is well underway, and you can find further information on our official Twitter account, https://x.com/0x0exchange.
In-house auditing has been completed, and our preliminary reports indicate no severe critical vulnerabilities. However, we are committed to ensuring the utmost security for our users. To that end, we have initiated discussions with Hacken (https://x.com/hackenclub), a reputable auditing firm in the crypto space, to conduct a third-party audit. Once the audit is successfully completed without any issues, we will proceed with the mainnet launch of Arcane.
In parallel, we are actively developing the relayer system, which will include its own dashboard. This system will allow holders with a minimum of 100,000 0x0 tokens to subscribe and use their addresses as relayers for processing transactions on the exchange. Here's how it works:
- Relayers Boost Security: When you initiate a transaction, a relayer is selected to handle it, ensuring smooth execution and enhanced security for your transactions.
- Earn as You Relay: Relayers earn fees in ETH for their services. Every transaction covers the Gas Cost and incurs a Transaction Fee (a small percentage of the transaction amount, starting at 0.1%). This incentivizes relayers and turns each transaction into a profitable opportunity.
- Win-Win Scenario: This setup creates a win-win situation. Users enjoy smoother transactions while contributing to a more secure system through relayers. Simultaneously, relayers are rewarded for their efforts, making every crypto interaction mutually beneficial, all while preserving privacy.
To simplify the relayer concept, think of it as an upgraded version of the current relayer in the MVP. Your subscribed address will process transactions on behalf of users, ensuring privacy by keeping 0.1% of the transaction amount and forwarding the rest. Importantly, this all happens passively, even while you sleep, offering total privacy by concealing the "from" address from Etherscan.
While we are making strides in these areas, our primary goal remains the mainnet release of the exchange. Additionally, our utilities are Ethereum Virtual Machine (EVM) compatible, allowing us to extend 0x0's privacy ecosystem to all EVM chains, including Polygon, Arbitrum, Binance Smart Chain, and Avalanche. We are also considering expanding to Solana in response to user demand, as their Rust-based smart contracts offer the potential for achieving privacy similar to what we have achieved on Ethereum.
I understand that I have been relatively quiet, and I apologize for any concerns this may have caused. I find solace in silent development rather than excessive communication. My inbox is often inundated with messages and marketing spam, leaving me with limited time to check my DMs. However, please rest assured that 0x0's core mission remains unchanged.
Thank you for your continued support!