The Cypherpunk Guild Funds Incognito
The Cypherpunk Guild is pleased to announce the funding of a $40k USD grant to Incognito, for the creation and deployment of a NEAR<>Incognito bridge, that will allow users to trade anonymously any NEAR token cross-chain.
Once the NEAR<>Incognito bridge will come to life, every user will be able to store, transfer, and trade their assets using their favorite dApps while being able to benefit from the privacy features powered by the Incognito chain.
Privacy For All Existing Crypto And Dapps
Incognito Protocol is a layer-1 blockchain that focuses on bringing privacy to crypto assets and decentralized applications. Its goal is to provide an ‘incognito mode’ for all transitions and every asset supporting multi-chain integration via bridges built on the most reputable protocols such as Bitcoin, Ethereum, Monero, Dash, Litecoin, and Polygon, just to name a few.
Thanks to this grant, Incognito will soon integrate with NEAR Protocol, one of the most scalable blockchain in the space. Their integration will greatly benefit the development of DeFi as it will provide users with options to protect their financial information while engaging with any dApp and cryptocurrency.
For its bridge aggregation, Incognito applies a new mechanism called Unified Privacy Token which innovated upon traditional shielding processes. By implementing a Unified Privacy Token approach Incognito is able to make liquidity less fragmented, unlock more utility for shielded tokens, as well as more flexibility for unshielding. For users, this translates into more convenience for liquidity providers and traders, more flexibility, and lower unshielding costs.
Next Steps
The Incognito team has already started working on the NEAR<>Incognito bridge which is expected to be audited by the end of June. The successful launch of the bridge will be followed by an additional grant for the integration of Incognito with NEAR’s dApps. More information on that will follow once the first phase of the project is completed.
To read the original announcement: https://cypherpunkguild.medium.com/the-cypherpunk-guild-funds-incognito-71328da6f0b2
About Incognito
Incognito is a global community of privacy-minded builders seeking to protect the world from surveillance and control. Incognito builds privacy-protecting, blockchain-based financial products for the future of money.
About Cypherpunk Guild
The Cypherpunk Guild is a group of privacy-minded developers, marketers, and entrepreneurs, jointly collaborating to pioneer a future built around private transactions on NEAR Protocol and the larger crypto-verse. Led by two second-generation Cypherpunks, the Cypherpunk Guild supports the development of private applications on the Open Web, as a means of safeguarding user privacy and freedom.
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