What Is Monsoon.finance?
Monsoon.finance Coin is a multichain privacy protocol building a suite of privacy services for DeFi users on every smart contracts blockchain. The uses zk-SNARKs to break the link between cross-chain and wallet-to-wallet transactions. Monsoon is building three privacy services: a wallet-to-wallet privacy tool, a multi-chain privacy bridge, and a multi-chain privacy DEX. The wallet-to-wallet privacy tool is a fork of Tornado Cash that supports multiple different EVM blockchains (including BSC, Polygon, Avalanche, Moonbeam, Acala, etc) with a built-in protocol fee.
The multi-chain decentralized privacy bridge will allow users to move assets across any blockchain in a completely private and decentralized way. The nodes will stake MCASH to validate cross-chain transactions, but these transactions use zk-SNARKS to prevent nodes or any onlookers from linking deposits to withdrawals. A majority consensus amongst staking nodes must be achieved for transactions to be processed, meaning the process is both decentralized and private.
Monsoon.finance Coin Storage Key Points
|Circulating Supply||2,100,000.00 MCASH|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
How it work?
Monsoon.finance user deposits cryptocurrency into Monsoon contract in increments of 0.1, 1, 10, 100, etc. of the network token.
User waits for more deposits to enter the contract to better preserve privacy.
User provides a zero-knowledge proof that they deposited funds into the contract and the withdrawal is processed on-chain..
Monsoon.finance is a fork of Tornado Cash, an audited privacy protocol for Ethereum. The uses the same verification keys and therefore inherits the same level of security as Tornado Cash. You can view the audit here. Finance also plans to have audits of its own protocol including the privacy bridge and privacy DEX when those tools are finalized.
Relayers are used to withdraw to an account with no balance. The relayer sends a withdrawal transaction and takes a part of the deposit as compensation. The relayer cannot change any withdrawal data including recipient address.
Currently, Monsoon Finance is deployed onto Binance Smart Chain Mainnet, Polygon Testnet, and Avalanche Testnet. They plan to support other public blockchains in the future, including Fantom, Near Protocol, Solana, and Rootstock.
Monsoon.finance Coin improves transaction privacy by breaking the on-chain link between source and destination addresses. It uses a smart contract that accepts network token deposits that can be withdrawn by a different address.
To preserve privacy a relayer can be used to withdraw to an address with no token balance. Whenever tokens are withdrawn by the new address, there is no way to link the withdrawal to the deposit, ensuring complete privacy.
Monsoon is completely decentralized, controlled and governed by its community. By acquiring MCASH tokens, you can participate by voting on governance proposals and weighing in on the evolution of the protocol.
Monsoon.finance when the token is launched and publicly available, by using Monsoon you will also mine MCASH, the governance token of Monsoon Finance. The more you use it, the more say you have in the evolution of the protocol.
Trusted Setup Ceremony
Trusted setup ceremony for zkSNARKs has 1114 contributions, as long as at least 1 contribution is honest, the zkSNARK keys are secure.
Users will be able to deposit assets on one chain, and privately withdraw those assets on any other supported chain. The bridge contracts require Monsoon validators to come to consensus about deposits that happened on supported blockchains in a decentralized manner. Validators will run a PoS Substrate-based chain.
Monsoon.finance Coin as a Cross-Chain Protocol will allow: Multi-Chain Privacy Bridge: Users can deposit assets on one chain and privately withdraw them on any other chain. Multi-Chain Decentralized Exchange: Using the Discovery Network, users can deposit an asset on one chain and privately swap it for any asset on any other chain. Multi-Chain Support: The platform will support various smart contract blockchains like Solana, Moonbeam, BSC, Matic/Polygon, and Fantom.