🔦The Service Platform

A user-friendly, privacy-first DeFi service platform

Our ambition at Encryptify is to lower the barrier to entry for adopting on-chain privacy solutions as much as possible. Empowering developers and users to make privacy something it should be: The standard in a decentralized world.

Our end goal 🚀

We aim to integrate with several base privacy layers and offer a wide selection of the most important foundational DeFi services and products. Easily accessible, beautifully presented, configurable, and embeddable into any project.

Core platform features

Shielded transactions

Shielding any sensible transaction per default, end-users and projects can maintain privacy while still leveraging the power of public blockchains.

Privacy as a service

Projects can use ready-made and no-code solutions directly on the service platform and/or embed low-code offerings directly on their app and website, choosing from powerful SDKs and beautifully designed UI components. Ready-made and configurable contracts allow for flexibility and can be deployed with just a few clicks.

Publish & list on the platform

Several types of DeFi contracts can optionally be published and listed on the platform. Projects can, for example, list their fundraising or staking contract on the platform, giving increased exposure.

Transparency on command

Privacy is great, but what if something actually has to be made transparent? What about compliance, audits, tax reports, and proof of funds? The Encryptify privacy protocol allows users to verify & prove transactions to a 3rd party if necessary. Only the user decides when and what to share.

Beautiful components & secure contracts

UI components & widgets, created by experienced designers and developers are fully responsive, developer-friendly and highly customizable. The underlying contracts are secure & audited, offering full peace of mind.

The architecture

Architecturally, Encryptify consists of 4 main layers:

  • UI/UX component layer A web component layer consisting of components and widgets, that allow for integrating the platform's privacy-first products into any project, dapp, or website. Encryptify will offer basic drop-in-place widgets for the very easy addition of simple services and features, as well as more advanced and customizable components SDK.

  • Client-side Encryptify privacy SDK This layer connects the UI/UX components to the underlying Encryptify on-chain privacy protocol (the smart contracts). It is what enables modularity and allows the privacy protocol to integrate with several base privacy layers. This is especially important for privacy layers that generate zero-knowledge proofs on the client side.

  • Encryptify on-chain privacy protocol This is the on-chain protocol layer that consists of several smart contracts, communicating with the chosen base privacy layer. Together with the client-side privacy SDK, it allows for integrating different privacy layer solutions.

  • The Encryptify service platform The user-facing service platform. This enables users to directly use some of the DeFi services and products, and allows developers to configure and deploy privacy-first smart contracts, as well as manage their stack.

Initial target audience

While we strongly believe that on-chain privacy will become the standard, we also see developments that must happen before privacy can be widely used on a very large scale. We think that especially UX has to improve and take a large step forward. For the web3 ecosystem as a whole to adopt privacy-first as the standard, especially account abstraction and seamless onboarding, as well as solid cross-chain interoperability processes have to be implemented and adopted first. While it will take the industry some time to reach that end state, this pairs exceptionally well with our end goal and general focus on the combination of UX and privacy.

Privacy-adoption is in the early stages, however, we see a strong and growing demand within the niche of small to mid-sized projects, existing DeFi users, and privacy enthusiasts. Ecosystems/solutions like Oasis, Railgun or Aztec Connect have shown that they can attract meaningful TVL. In fact, Railgun and Oasis have just recently started to pick up again according to data from DefiLlama, as the market turned more positive, with a currently growing ecosystem and user demand forming quickly, which is also driven from within the degen space. The - due to regulatory scrutiny - fallen Tornado Cash reached $1b in TVL at its peak and has been growing back up again steadily since the end of 2022.

We see many synergies with these target niches and our approach of combining UX improvements with privacy, creating a service platform that allows especially projects with smaller resources to adopt not only on-chain privacy very easily, but foundational DeFi mechanisms with built-in privacy on top. Additionally, a large and growing group of privacy enthusiasts and existing DeFi users are desperate for more usable solutions when it comes to shielding transactions while also making sure that there are possibilities to stay compliant as the web3 space evolves.

What product comes first?

Although we have our internal roadmap and game plan, given our DAO and community-centric spirit, we invite all OG NFT holders to participate in an open discussion, allowing them to take part in actively forming the protocol and hearing about our product plans first.

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