PolyWhirl for anonymous transactions on Polygon. Discover why this platform meets a fundamental need in DeFi, discretion.
PolyWhirl for anonymous transactions on Polygon.
It is therefore a question of respecting the privacy of individuals, which is a strong point of decentralized finance and here is how this platform could help you in your future transactions.
DeFi users are vulnerable to surveillance due to the immutable and transparent nature of public blockchains such as polygon. In public blockchains there is no privacy for on-chain transactions. Institutions and Retailers are at risk by having their transaction history monitored, methods reverse engineered, hence losing their competitive advantages and privacy.
PolyWhirl, the solution so that your privacy is respected:
PolyWhirl is a completely decentralized platform for conducting private transactions on Polygon.
The platform will help you preserve your privacy, in case your identity and addresses are linked and exposed.
You can transfer all your funds to a new address without exposing your link to previous addresses.
Within our eco-system, our goal is to enable completely decentralized private transactions that users can rely on, forever.
In order to provide full decentralization and autonomy, it was decided to create the $WHIRL token.
This allows the protocol to implement a new mechanism for $WHIRL players to earn rewards via pooling fees, a fee burning mechanism and governance.
3 points to remember:
1. Pool fee rewards
Pool users are charged in native pool tokens, 80% of which are distributed among $WHIRL stakers. In this way, all long-term $WHIRL holders are rewarded as the protocol usage and revenue increases.
20% of the protocol’s revenue is used to buy back $WHIRL tokens on the market and is burned. This makes $ WHIRL a deflationary token. We aim to run the burn every month.
$WHIRL will soon be used to govern the project using a DAO, with the tokens acting as voting rights. Voting rights will be proportional to the number of tokens held by a user.
PolyWhirl, in short:
So what is PolyWhirl?
PolyWhirl is a fully decentralized platform for private transactions on the Polygon chain.
Okay, but, what does that mean?
You can make private transactions on the chain to avoid linking wallets. It enables you to transfer your funds to an entirely new address without exposing the identity connected to your previous wallets.
How does it Work?
PolyWhirl will allow you to de-link your wallets (and hence identity) by simply breaking the on-chain linkage between the two wallets you transfer your funds to & fro.
It uses smart contracts to accept tokens in fixed amounts and generates a secret key for you, enabling you to redeem your tokens in a completely different address using it! Since these secret keys are not stored on-chain at the time of deposit, there is no way to link the address you use to withdraw the tokens to the one that deposited it — hence maintaining complete privacy on-chain!
The process can be explained as a combination of the two — Depositing funds and Withdrawing them.