Renegade is a dark pool, meaning it provides strong trade privacy, unlike other decentralized exchanges which are completely transparent.
Specifically, we can break down "privacy" into two different categories:
- Pre-trade privacy means that all your order details (token pair, direction, size) are kept hidden prior to the trade occurring. You can search for counterparties without anyone learning your order information.
- Post-trade privacy means that your trade details are also kept hidden after a counterparty has been found. Only your counterparty learns what tokens were swapped, and third-parties to a trade learn nothing.
Pre-Trade Privacy
Renegade uses multi-party computation (MPC) to match orders. MPC is a cryptographic technique that allows for traders to match orders without revealing their private information, meaning that traders can match without broadcasting their trading intention.
On Renegade, no one except you and your connected relayer can see any details of your orders or your wallet balances or pending orders. Large trades that would normally move the market when rested on an order book or fall victim to MEV when detected in the mempool can now be filled privately.
Post-Trade Privacy
Once a trade is matched through MPC, a zero-knowledge proof is generated. This ZK proof is verified on-chain, settling the trade without publicly revealing any details about the matched assets or parties involved. Secure post-trade privacy protects Renegade traders from copy trading and wallet tracking.