Aztec Network
Published in

Aztec Network

Introducing zkDAI into the Aztec Private Rollup

The TLDR; zk.money Now Supports Private, scalable DAI Transactions

To celebrate the launch, users can shield and send zkDAI for free for the next 7 days (up to a total of 1000 DAI txns). We’ll draw 1000 zkDAI in prizes between the first 100 users to deposit at least 1000 DAI on zk.money.

Last month, Aztec launched zk.money, the first private rollup service on Ethereum. zk.money is a private, Venmo-like app that allows users to transact anonymously with one another by attaching aliases to Ethereum addresses.

Within 3 days, zk.money added over 8000 new users on the platform and has surpassed $1.5M in total deposits last week. Today, we’re excited to announce that zk.money now supports DAI, allowing users to shield and send zkDAI privately.

DAI transactions can now fit into the same private rollup we use for ETH transactions. Additional tokens help scale the network as they increase the throughput and help make transactions cheaper for everyone. Now that DAI is part of the zk.money family, it receives the same anonymity and scaling benefits as ETH thanks to the double-layer zkSNARK design of the network.

Why DAI?

Enabling users to transact with stable monetary values was a priority for us at Aztec. Users can now use zkDAI to transact with digital dollars in a permissionless, private fashion. Of all the options out there for dollar-pegged crypto assets, we chose DAI as our first stablecoin for a few reasons:

DAI is the first proven decentralized USD pegged stablecoin on Ethereum. DAI went through several stress tests throughout the crypto market cycles and continues to establish itself as the go-to stablecoin for users who prioritize decentralization and immutability.

DAI isn’t new to us at Aztec — v1 of zk.money supported confidential DAI. This time, DAI transactions are far more cost efficient and scalable and now fully private under Aztec’s private rollup. A private DAI transfer is now cheaper than a public transfer.

Looking Forward

With zkDAI, Aztec enables users to pay for goods and services in a trustless, 100% private stablecoin. This is the first step in our goal towards making zk.money the scalable infrastructure for micro, private payments on Ethereum. Users paying online with zkDAI will experience true anonymity with their online payments for the first time in Ethereum’s history. Accepting zkDAI as a form of payment enables businesses to accept cross-border payments with ease, and gives users the confidence to transact without advertisers or the rest of the world-building up a profile of their spending habits.

Get started with gas-free transactions today, and win 1000 zkDAI

To give our users a smooth try on zkDAI, we’ll let everyone transact for free for the first 7 days or the first 1000 zkDAI transactions on zk.money (whichever comes first). On top of that, we’ll raffle 1000 zkDAI in prizes between the first 100 users to deposit 1000 DAI or more on zk.money.

To be eligible to win, you’ll simply have to be within the first 100 users to deposit at least 1000 DAI on zk.money.

Together with the community, we are adding more tokens to the Aztec platform in the coming months.

If you have any tokens you’d like to see on the platform — Join the conversation and let us know on Discord!

💰 Try zkDAI now >> zk.money

--

--

--

Privacy shield for Ethereum. Try it now on mainnet at https://zk.money/

Recommended from Medium

World’s First Riflescope NFT Developed Through Digital Arms & ZeroTech International Licensing…

Fantom Archive — On-chain Data Storage

Blast off… Introducing GOMA Shiba Inu

What comes after a new BTC ATH? The Hype Train!

CryptoFinance Metrics | 01.05.2022

How not to lose your Bitcoin or any of your Cryptocurrency to low-lives on the Web.

AAG Staking Instructions

How To Purchase a Binance (BNB) Smart Chain Crypto Project/Token

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Joe Andrews

Joe Andrews

Head of Product @aztecprotocol

More from Medium

Integration of the Chainlink RAI/USD Oracle

Sarcophagus: Decentralized dead-man switch — a self-sovereign inheritance protocol for the…

Securing Warp: A formal specification of the Yul IR

A Technical Introduction to MACI 1.0