Sherpa Cash and ELK on Avalanche

How can Sherpa help with your DeFi privacy?

What does Sherpa Cash do?

The primary service currently is “privacy mixers”. Users can deposit set amounts of whitelisted tokens to anonymize transfers between different wallets. This includes ELK.

Why do this?

It effectively removes any on-chain traceability between wallets. For the typical Avalanche-Avalanche wallet function it means a user can separate the wallet they onboard to the network though (CEX or Card) to remove the link between their KYC linked wallet and a truly anonymous DeFi usage wallet.

In the case of ELK in particular if a user bridges to Avalanche for the first time using the “1 ELK for gas” option, then depositing to the ELK mixer is immediately available as long as they have a correct deposit amount (25, 250, or 500 ELK). This makes activity on Avalanche untraceable to funds on other chains and increases user privacy.

In what circumstances would Sherpa Cash be useful?

1 — To separate a business wallet and a personal wallet. Working in DeFi typically pays in crypto, so a user could privatize their non-business wallet(s) by first moving their pay through a mixer.

2 — Moving from CEX to on-chain. Use the mixer to send funds to a different personal wallet to remove the KYC connection from the CEX. This allows users to interact with DeFi protocols anonymously.

Please note: For the privacy mixer to be effective it requires deposits and withdraws from multiple users at different time spacings.

Website: sherpa.cash

dApp: app.sherpa.cash