Raze Network — Building a cross-chain privacy middleware for DeFi and Web 3.0
Question 1: Please briefly introduce Raze Network to us by using several keywords or sentences to describe the characteristics and features of your project. Under what background was Raze created?
Justin: Raze Network is a second-layer protocol that will provide cross-chain payment privacy for the entire DeFi stack of the Polkadot ecosystem.
Since the Zether framework we use was designed to support the Ethereum account model, the Raze contract will support both tokens issued in the Polkadot ecosystem such as DOT & Kusama as well as ERC-20 cross-chain private payment.
Through our RAZE VM integration, we will be able to connect to any DeFi or Web3.0 product, and then mint privacy tokens in a 1:1 ratio.
By using zero-knowledge algorithms, the identities of involved parties, balance, and the transaction amount will be anonymized, thus protecting privacy to the fullest extent.
Our targeted market is really huge, as we can connect to any chain which supports smart contracts. Ethereum, Polkadot, and Binance Smart Chain will be amongst the first ones!
The objective of Raze Network is to enable cross-chain privacy-preserving payment and DeFi systems while protecting the transparency of your assets and behaviors from surveillance. Eventually, Raze Network can anonymize all the cryptocurrencies across all chains.
Question 2: Why did Raze Network choose the privacy section? In your opinion, what is the meaning of privacy protection and privacy calculation for the blockchain industry?
Justin: Privacy is very important. You can’t have true crypto adoption if all your transactions are public on the blockchain ledger.
In your professional life, you won’t like your competitors to know about all your transactions, plus also not the investors because of potential FOMO/FUD.
Similarly in your personal life, you won’t like the whole world knowing what you recently bought, what services you took, etc.
Unfortunately, everything is public on the blockchain, so there is no concept of privacy there.
This is the field Raze Network is working for, providing privacy to transactions where privacy is required. Because of our highly interoperable nature, we do believe we will be able to provide privacy across all chains in near future.
Question 3: Talking about privacy, people can normally be reminded of Nucypher, Torn, Secret Network, etc. So what makes Raze Network more competitive?
Justin: Though Raze Network also provides privacy at the smart contract level, Raze Network protocol is not limited to just one service or product. Raze Network can connect to any DeFi or Web 3.0 product and use the services provided by them in a completely anonymized manner, whether it is staking, derivatives, trading, lending, etc.
Raze Network is also not limited to one chain or ecosystem. It can connect to any chain which supports smart contracts, for example, Polkadot, Ethereum, Binance Smart Chain, etc.
This greatly increases our potential market to integrate with and is one of the major advantages over other privacy projects.
Question 4: Why didn’t Raze Network choose the Ethereum Network which has a better developed underlying technology but decide to build based on the Substrate framework?
Justin: Raze Network is built using the Substrate framework.
Polkadot is an emerging ecosystem. You can build and upgrade your infrastructure without forking it. You will also not face congestion and high transaction fees on Polkadot.
Plus you can build your own application-specific chain, which can connect to other application-specific chains seamlessly. Such interoperability will open new paths for Decentralised Finance.
Question 5: Raze Network aims to mint private tokens through basic tokens at a one-to-one ratio based on its contract. Can you share with us the entire solution process of the project and the main functions and differences in the 「mint」 and 「redeem」 section?
Justin: Raze Network will mainly use three technical modules:
- Mint: Converts any token into an anonymized version of itself.
- Redeem: Converts the anonymized token back into its native form.
- Transfer: Enables the anonymous transfer of the token, conceals the identity of both sender and receiver, and the amount being sent.
It will be a very easy process for the user to mint and redeem their token:-
- A user will just have to go to the dApp (Uniswap, Aave, Pancakeswap)
- Mint private versions of their token directly on that platform
- Use the services provided by that dApp in a completely anonymized manner
Once the task is done, just redeem it back to its native form using the Redeem Module.
An easy process, but this way all the transactions you do are anonymized and no one can track them.
Question 6: The privacy section seems to have a limited application scenario. What are some of the products being designed and their application scenarios?
Justin: This statement stands true for other privacy projects but not for Raze Network.
Raze Network can connect to any dApp or Web 3.0 product like Uniswap, Aave, StaFi, Pancakeswap, Compound, etc, and use the services provided by them in a completely anonymized manner ( Lending, staking, derivatives, trading, etc).
Not limited to one service like with other privacy projects, and also not limited to one chain or ecosystem. Raze Network will also work on creating its own private ecosystem in the future. Raze Network will work on Raze Swap, Raze Lending platform, and Raze cross-chain bridges which will be built on our own privacy-preserving network and RAZE token will be used for all transactions on it.
Question 7: Specifically, how does Raze Network combine its own native privacy layer with DeFi and Web 3.0? In your opinion, does Raze Network play the role of middleware between DeFi and Web 3.0? Is it a little far away for ordinary individual users?
Justin: Raze Network can connect to other DeFi or Web 3.0 products using our RAZEVM integration. Just add a few lines of code and we are integrated.
The privacy token is minted on our own layer-2 network and can absorb liquidity from many different DApps and chains. Thus we can say that Raze Network is building a Cross-chain Privacy Middleware for DeFi and Web3.0.
The process and user experience will be very easy and simple as previously discussed. Everyone will be able to easily use it without doing heavy research on how-to.
Question 8: For value capturing, how is the tokenomics of Raze Network designed, and how does Raze stimulate the users to hold the tokens in the long term?
Justin: $RAZE token will be required for all transactions on Raze Network as a gas token.
This is one of the biggest utilities for the $RAZE token.
- $RAZE is a privacy-preserving token, and will also act as a Governance-token.
The community will be able to propose changes in the protocol, and then vote on it to implement the changes.
- $RAZE token will also be used to provide liquidity reward, to incentivize the liquidity in the decentralized ecosystem.
- Also a small portion of the transaction fee will be burned, thus the $RAZE supply will be deflationary.
Also covered in our Docs:
Question 9: Talking about the token metrics, Raze Network is gradually conducting the process of private sale, IDO, public sale, Uniswap, and CEX listing. Can you share with us the participating rules and if we need any whitelisting or KYC process? Are there any differences among these platforms?
Justin: Raze Network will have its IDO on multiple platforms: Bounce, DuckStarter, Poolz, plus LBP program on Balancer.
The whitelisting details are to be out in upcoming days, but you can find all related details here: https://raze-net.medium.com/raze-token-launch-f4b73dac3346
We also have a Genesis Community Round for our TGE live, where 100 Winners will get a chance to win $200 worth allocation: https://raze-net.medium.com/announcing-genesis-razer-community-round-4f658e154a87
Do participate and get a chance to win some allocation, plus wait for further details on the whitelisting process!
Question 10: After the token launch, what other plans does Raze Network have recently? Any new products? Will you have any deeper integration with DeFi, Polkadot, Web 3.0, or other fields?
Justin: Yes. Currently, we are working on our Substrate-based smart contract, which mints and redeems privacy tokens.
Our audit report from Certik will be published very soon, and our product launch is expected in Q3 2021. Raze Swap, Raze Lending, and Raze cross-chain bridges are also in our roadmap.
We have already partnered with many DeFi protocols for our RAZE VM integration, for example, KardiaChain, MantraDao, Kylin Network, Phantasma, OMNI, Bella, etc, and many more partnerships are also to come out as we go.
These partnerships will mainly benefit these project’s communities as they will have another feature/use case to provide to their community: Use the services provided by their dApp in a completely private manner.