Incognito - Privacy Platform

in LeoFinance2 years ago (edited)

I will try to keep this one short and to the point.
There's this privacy project I've been using for about 2-3 years. I am not affiliated with them in any way, but I do think it's an interesting project that could be useful to some of you.

So Incognito is a privacy ecosystem. Their primary focus is their phone app, though they have launched a browser wallet extension recently, that gives you access to some of the features of their mobile app on your desktop.

One great advantage of their system is fact that you can use a large and expanding number of tokens (no no HIVE yet 😔) and send/trade/stake them privately. There is no KYC of any kind. You can basically achieve privacy for a high number of transparent block-chains. The process is automatic and uses smart contracts to wrap your token to it's private equivalent.


example
BTC ---> pBTC

Your privacy token can be then used inside their app in a number of ways.

  • It can be exchanged on their own DEX, or a number of external DEXes like Uniswap, Pancake Swap among others. It is all private, and available right from inside of their app.

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  • Staking is another feature available on their app, there are two different staking options available for a number of tokens like BTC, ETH, LTC, XMR, DAI and more

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The APY values for the 'Provide' section of the app haven't changed last time I've checked.

  • PRV is their main token that you can earn for staking it can be then exchanged, used for network governance or for paying fees in the app, which are currently very low.

  • They have also designed their own hardware mining nodes, which you can order from their website. I wasn't able to test them myself though.

Their system is a really complex one, and what I am trying to present here are some basic functions to get you started and hopefully a little interested.
I would strongly recommend some further research before sending any non-trivial amounts to their app. Fortunately you can find a lot of learning materials on their community boards (I've found pictures in this post there).

I hope you find it interesting. I wanted this to be just a short introduction, but I may make a more in-depth tutorial for Incognito in the future if anyone's interested.

Have a great day!