To start trading on Renegade, users must first deposit funds into a Renegade wallet.
Unlike regular crypto wallets, proprietary Renegade wallets do not interact with the blockchain in plaintext. Instead, Renegade wallets connect to network nodes called “relayers” that communicate with each in order to match liquidity. The relayer that a wallet is connected to is the only other party that can view the wallet’s contents in plaintext. Relayers preserve wallet privacy by publishing all activity to the blockchain as zero-knowledge proofs that obfuscate user balances, open orders, and previous transactions.
Upon first depositing funds into Renegade, a user’s Arbitrum wallet becomes tied with their Renegade proprietary wallet. Henceforth, they access their Renegade balance by connecting the same Arbitrum wallet to the Renegade platform.
How the Renegade wallet works
Unlike a traditional crypto wallet, a Renegade wallet is an ever-updating list of balances, open orders, deposits, and withdrawals. Every change made to a Renegade wallet is committed on-chain using zero-knowledge proofs that don’t reveal any information about the wallet. State changes include depositing, withdrawing, creating new orders, and settling orders.
This innovative wallet architecture ensures that trades don’t leave traces on-chain. All that goes on-chain are the zero-knowledge commitments. While these commitments are publicly visible, they do not reveal anything about the underlying wallet data.
Wallets connect to relayers who facilitate fully private, trustless trading using collaborative SNARKs.