Join Suter Shield Privacy Mining on BSC
Suter Shield is proud to announce the launch of the first VolumeMining program on the Binance Smart Chain. It is a unique approach that aims to maximize the level of privacy achievable with Suterusu and at the same time, it differs from all other TVL-based liquidity mining programs. This will be based solely on the volumes produced: the more transactions, the more rewards.
Both Suter Shield and Tornado Cash aim to help users protect the privacy of their assets and personal information on a public ledger. Tornado Cash has been successful in achieving a large TVL (currently around $500m worth of ETH and USDT) and be the most used tool by whales to keep their funds confidential. On the other hand, Suter Shield wants to be the privacy-protection tool for the average Joe by designing and developing all the features necessary for retail users who are now cut off due to the minimum and fixed sizes required by Tornado Cash and above all by the Ethereum transaction costs.
Suterusu Protocol is built on an original zk-ConSnark scheme, it does not require a trusted setup and can protect both the identities of the users and the transactional amount. In contrast, Tornado Cash’’s zkSnarks proofs require a trusted setup (which is a huge security loophole) and cannot protect the transactional amount which can only be fixed figures and requires the users to perform multiple transactions for a random transactional amount.
Second, a large TVL doesn’t ensure your privacy if you need to transact privately in a short period. Even with a privacy-protection tool such as Tornado. cash with an extensive TVL, a low-density of transactions in the network cannot fully protect your privacy.
A good metaphor for this would be a train station. If you want to hide, do you prefer a very large station with a normal flow of people or a normal station with a huge flow of people?
The only way to build a real privacy-protection system is to have frequent transactions going in and out of the network. This is exactly the focus of the Suter Shield Privacy mining program on Binance Smart Chain aiming to increase the transaction volume in the Suter network and reward users exclusively on the basis of how many volumes they generated. Different from Tornado Cash or other players in the space that rewards you based on your TVL, Suter Shield rewards you based on how frequently you use the network.
Third, Binance Smart Chain. Tornado Cash focuses on Ethereum, and currently, most of the whales these days use Tornado Cash (average miner deposit is more than 100 Eth), while Suter is extremely focused on BSC. Despite the very recent launch, Suter has already accumulated over 1,000 average weekly users while Tornado Cash has 273 average weekly users (according to https://duneanalytics.com/public/dashboards/UEU02CHiGtNw9crfeD6OJ7bKPnvFtNjOgZ7Vc6uj ). With Suter on BSC privacy is cheap, you can trade any amount in a few seconds. We will continue to work on the retail side and we expect exponential traffic growth in Suter Shield BSC with the launch of the privacy mining program.
The privacy shouldn’t be a product that only the top 1% can afford. It should be universal. It should be available to everyone. This is what Suterusu is working on, a privacy-protection product for all. A journey of a thousand miles begins with a single step. We have built Suter Shield on Ethereum, and now BSC. We will deploy Suter Shield on even more smart contract platforms and Suterusu will live up to its vision. Let’s work together on this goal!
Let’s join the Suter Shield Privacy Mining program on Binance Smart Chain, and enjoy for the first time the mining experience TRY% brought to you. As we said our program is not based on TVL but Transaction Volume, so we don’t have APY but TRY (Transaction Return per Year), Transaction Return per Year: your rewards will be primarily based on how much percentage of the total transaction volumes will belong to you.
We want to emphasize that all the collected service fees from Suter Shield network will be distributed to the community via a novel Auction mechanism. Only the Suter holders can participate in the aunction and the Suter collected from the auction will be burned. More partnerships and updates are coming. Stay tuned and join us.
We are always looking fowards to your feedback and let’s join forces to push the Privacy Tech for Mass Adoption.
Dr. Lin (CTO) and Suterusu Team.