OtterTank / Best Pearls Showcase | Common S3nse - 2026

Okay, welcome back. Hope you're all hydrated. Uh we're moving on to the auto tank. Uh basically what the auto tank is is uh you know projects the same way otter gather pearls. These are basically pearls.

So very shiny interesting projects. Um number one is going to be Cloaked. Uh please welcome to the stage uh the co-founder of Cloaked.

Can we plug our thing in here?

Hi everyone. We're Cloaked

and today we're going to give a quick presentation um of our product that we've been building. Um yes, a picture tells a thousand words. So we're actually just going to show you it. Um Cloaked is live. It's been live for three and a half months.

We um have been building it since uh November 2025. and uh both when we quit our jobs and sort of decided right let's uh do our own thing. So uh today I'm going to take you through what it looks like to sign in, what it looks like to create an account, and then show you the features that we have in Cloaked. Um since uh going live in March 29th, we've uh done $1.5 million in volume.

uh 600k of that has been in the last 30 days and uh we've had $1 million in deposits. So,

five minutes or okay, we'll be quick.

Yeah. Uh it will be quick. So, uh right now um Cloaked is a privacy preserving wallet and um you can uh go to app.cloak.xyz and you can create an account.

We give every user an ENS name and this is a ENS name that has been super charged with stealth addresses. So every time uh the ENS name resolves it resolves to a fresh address that's owned by you only you control the keys. And this gives the nice um property of being able to have your balances split across many addresses. So when you're receiving a payment, the counterparty doesn't know your entire balance or your transaction history. So you can go through that flow, but I'm going to sign into an account that's already created.

And uh we are big proponents of pass keys. So um let me pick this one. Or you can connect with an existing wallet. MetaMask Rainbow Robbie. uh we we are going to add support for uh embedded wallets at some point, but for now you don't have to share any PII.

You just log in with Pasi and you're good to go. Um first feature to show you here is this big receive button at the bottom of the page. And notice that this address says 0x AF dot dot dot. If I open this again, now it's 0xc8809. And I can keep doing this.

And this is a new address every time. Zero uh history at this address. And um you can see at the bottom here we say 491 fresh addresses created. And our balance is split across uh either all of those or just some of them. So this $142 exists somewhere in those in that set of addresses.

At spend time, these get upgraded to 7702 accounts. Uh uses some sort of selection algorithm. And uh you can either link addresses together. You don't have to link them together. Um and this gives you this nice property of unlinkability if you want it.

And I'll hand to Olivia here to show some other features. Yeah, I'll keep it quick here, but basically like this wallet is meant to look and feel like a single address wallet, but it's built on stealth addresses. So, your send looks the same, right? Um it's just a one-click send. Um but under the hood, we're aggregating addresses for you and um allowing you to send al together.

Um also, you don't have to fund this um wallet with ETH. We you can pay in kind. Um and then the really cool thing here is going private. So we are closely embedded with um privacy pools. Um and the pool you can deposit into the pool and withdraw from the pool within cloaked.

Um and what's cool about that is that we're just sort of layering stealth addresses on top of privacy pools. Makes it easy so that you're not misusing privacy pools and withdrawing to the same single address wallet which removes the purpose of using the privacy pool. Um, yeah. And then we also have this feature where every time you a deposit lands, we kind of flag it for you. We're like, do you want to tag this deposit, keep track of your funds?

Do you want to move it straight into the pool? We're basically just trying to make it like really operationally easy to manage your finances on chain and not um reveal your balance to prying eyes. And then the the last point here is of course self custody is very important to us and um this is why we have uh the ability to allow users to back up all of their data in a password protected file and um when they do that they can then go to our hosted recovery.cloaked.xyz XYZ

or they can run it

account or they can uh just run this MIT licensed uh cloaked recovery kit locally on their machine and uh obviously get access to all their keys and all their assets. Cloak never holds keys and um that's that's an important tenant that we're we we live by here. So uh that's Cloaked. It's multi-chain. Uh you can use it today.

We've got users and um we really really want to make privacy easy and um we're looking to support more chains, more assets and uh yeah, thank you for your time [applause]

questions time. All right. Um, do you want to go first now?

Yeah, sure.

Uh, so you're mentioning that you have uh private addresses which are all generated together. What are some uh uh some let's say uh tradeoffs with using your service uh for like are there any losses of privacy potentially?

Yeah, absolutely. So, one thing we're like very clear about uh in the registration flow and I think it's in the first paragraph of our docs is that we don't offer secrecy. Right? A lot of people in this room um like we're sort of cipher punk. We want secrecy and that means we haven't revealed any information to any counterparties.

When you register an account with cloaked, you selectively disclose to the cloaked infrastructure a public viewing key. And this is the crux of our architecture. This is the reason we can offer a user experience that's on par or better with existing self custody wallets. Um so yeah you you selectively disclose a viewing key and uh cloak doesn't collect any PII. Um you know you can use cloak through a VPN if you like but the idea is that that's the that's the the trade-off.

Yeah.

Um I I was a bit concerned about the aggregation aspect of it because you're saying you're doing aggregation um behind the hood. I mean, don't you warn the user when you do that? Because if you're aggregating addresses, it exposes the uh the linkages on chain in that case. No.

Yeah. So, stealth addresses are not perfect privacy. They're um unlinkability, right? They're not untraceability. So, I think if you're using just purely stealth addresses, as soon as you max send all of them, you're correct.

They're linked on chain, right? Um, so that's why they're really a perfect technology to marry with privacy pools, right? You receive funds to a self- address and we have that review page that pops up. You've received funds at the self address. Let's send it right into the pool.

What's the logic there in terms of like which addresses do you prioritize in that case? Because like that would make a big difference in terms of how private this is, right? Like if you say have uh for example you have 100 Ethereum put it for a privacy pool put it back and you have 150 Ethereum in your wallet you want to send out 100 [clears throat] you use the stuff that came from the privacy pool right you don't mix it.

Yeah. Yeah. So we have um basically tags auto put onto uh different actions in the in cloaked. So let's say you put 100 USDC into the pool and then you withdraw it to a fresh stealth address. We have a little thing that says this came out of the privacy pool, right?

So, you know, you can keep track of what's

So, what happens when you send 101?

When you send 101.

Yeah. Because in that example,

yes, right? Um, we warn you when you're going to link funds on chain.

Okay. That's that's great. That's good. Um, I have I have another question. Uh, why not build the ZK pool functionality directly into the wallet?

because it seems like in this case you would still have to, you know, connect your wallet to a ZK pool and the whole UX of that is not good, right? Like it seems to me like as a privacy product, as a privacy wallet or not sure exactly the term you prefer to use there, but like it seems to me like it would be a much better UX and far more empowering for the user if you just had a UI in the wallet and you have a mixer just just built in basically

or a ZK pool, sorry.

Yeah. Yeah. No, no. I I I like this question because it it pulls on the the tension of interoperability with existing self-custody wallets, right? So, if I if we were going to be an interface essentially for real gun, for example, um you get that uh that sort of 0x zk address.

MetaMask doesn't understand that, right? Right. Rainbow doesn't understand that. You can't send from MetaMask to the ZK address directly. So, Coll is trying to build for the market today, right?

And we're we're essentially the the the the direction we want to go in is our stealth addresses auto deposit into the pool, right? And all of your balances for the lifetime of your usage of cloaked, you're actually transferring either out of the pool or inside the pool. But we identified that there's a there's an interoperability gap if we were just to make it like a a simple interface to a pool. Um I mean there's somewhat of a way around that. Like if you you could limit its functionality by just saying, "Hey, I'm just going to just just break just go in, go out, and then it's still compatible with those wallets."

Like that's one way you could do that, right?

Yeah. Yeah. Uh [clears throat]

because then you break the linkages like that.

Yeah. And that's like that's sort of what we're offering with cloaked. You you you can um you know deposit straight to a a fresh dela address, go straight into the pool and withdraw again to a fresh delta address. So that that infrastructure that um people were using people were using MetaMask to deposit to privacy pools app directly and then they're withdrawing to their Rainbow account.

Okay.

We've taken that entire flow and putting it in one wallet um where your wallet has the privacy feature integrated directly.

Understood. Understood. Uh final question. What guarantees do you provide regarding the view key? No.

Next question. Okay. always have questions.

I do.

Questions are good.

Okay. Sorry. Um, so how did you acquire users? You said you have this is a I've got to ask these two questions really quick. You have 1.

5 million in volume and 600K over the last 30 days.

Yeah. So acquisition happens mainly uh you can probably guess through Twitter. Um, honestly this is probably our weakest point as a team. We we really uh we're we're very engineering focused. That's where our backgrounds lie and we're trying our hardest on Twitter to like play that game.

Um so yeah, Twitter any anything to add?

I mean, yeah, Twitter and just sort of like getting our names out there, connecting with like ENS and whatnot. Um but yeah, it's been very organic growth right now. We're not um doing anything crazier than that. in the revenue model.

Yeah, we charge a fee on um swaps and bridges, but it's lower than your typical wallet. It's 70 bips. Um and right now I think we have a few different things going on where you can basically get free swaps and bridges through us for a trial period.

Cool. Thank you.

Thanks. [applause] Thank you very much cloaked for that presentation. Um well I think you got the you made the judges intrigued. So judges what are we saying um on the score? I think uh the judges uh need to think about what they just heard from you guys which is also good.

So it's very independent guys.

[laughter]

Don't be influenced by another judge. Okay, we have a seven. I cannot see that, but um okay, that's a five and a seven. So, yeah, that's a that's a pretty nice score. Thank you very much.

Moving on, we're going to welcome Warpto to the stage. All right, we should be ready by now. Um, yeah, my name is Danish. This is Jim Jim. And together we are building Warp Toad.

And I want to start the presentation with uh the following claim that over the last few years we have been scaling crypto by creating more L2s, more app chains, more execution environments, and just more ways in general to uh yeah scale blockchain transactions uh the way we want to. But unfortunately that um probably is the opposite or not as uh yeah uh good for privacy um because privacy gets stronger the more people can disappear in the same crowd and with that fragmentation it becomes uh fairly hard. I think it just takes a Yeah. All right. Um yeah, I mean there are already some nice privacy systems out there like uh rail gun which showed us that uh DeFi can be done privately.

Um privacy pools that has pushed the whole conversation about uh compliance and uh privacy even further. Um and we are not trying to reinvent the wheel in that kind of sense. Uh the question that got us hooked was more the question of what happens when a user does not live uh only on one chain but uh yeah in a multi-chain world um because for rail gun or privacy pools you have uh the issue of separate deployments per chain and that uh slims down or fragments the anonymity set right so effectively you have disconnected privacy in Ethereum uh optimism arbitum instead one gigantic crowd you can hide uh which is a bummer I think at least. Um yeah, so we started with a very simple idea. Um what if adding another um chain did not create a separate uh privacy pool and what if it instead contributed to the whole privacy or anonymity set instead.

Um that is basically the core idea behind warp out and warp toad is in a sense u infrastructure for anonymity across chains. Um so instead of asking every chain to bootstrap the anonymity uh from scratch or privacy from scratch, we want to uh instead uh let them uh contribute and consume from that anonymity set. Um yeah and it it's not really just a theory. We have uh proven it with a first uh yeah basic privacy primitive which we call the giga tree. So basically how this works is that similar to how rail gun or privacy pools works right now you have separate deployments on separate chains.

you take those uh root commitments and then sync them up on layer one and then um yeah basically fetch them uh down to the other chains as well and that way you can prove something um on different chains. Um okay wait so yeah um exactly it's it's not just uh a code base that we have done we have the whole demo already at wto.xyz XYZ um on test net of course because we uh need to uh see the whole compliance issue through but if you want to test it out you can just head to that link. Um and yeah um it is not just a uh privacy pool a shielded pool. Uh it becomes much more interesting when you think about it that you can uh let all of those different chains contribute to that privacy network I was mentioning at the beginning.

Um and it gets even more interesting if you add some more capabilities or some more um application on top. For example, one thing Jim Jim will be uh doing a presentation on today as well will be a second use case other than just the shield pool and that are crosschain uh swaps shielded crosschain swaps uh swaps. So basically you can do something like uh get ETH on Ethereum mainet and then withdraw USDC on Abbertum without anyone ever knowing what you have put in um and where you went out and what you get out of it. uh I think even with a nice funny NFT example. Um and yeah uh that is like also a nice little uh flywheel kind of for privacy because uh each or maybe let's put it that way strong privacy gets uh your users users give you more applications then more applications uh get you more transactions which in turn then can uh strengthen the privacy even more and that is basically the whole idea behind warpad.

Um my name is Danish. This is Jim Jim. Usually this comes uh I think kind of in the beginning of the presentation but if you want to connect with us you can just scan the QR codes. Okay judges what are we feeling? Do we have any questions?

Um okay so uh actually you have a good question. Start. Sure. I'll start. Um, where does the smart contract logic live?

Uh, so it lives on every chain we deploy on. So I guess the image with the little flowchart

Oh, it's gone.

Hold on. I don't understand. Okay. What What happens when they contradict each other?

Right. That's a good question. So we're only bridging the roots. So every uh deployment on every rollup has its own Merkel tree and then we send the root over to L1 and the L1 hashes all those roots together. But we don't have to worry about the double spend problem because inside the commitments we're forcing the user to say you can only withdraw one chain at a time and that's why we don't have the bridge null.

So the logic lives on the Ethereum M1 smart contract then.

Yes. Yes. That's our root.

Okay. root of trust and that's also why we only use canonical bridges and no other chains because canonical bridges are as secure as Ethereum.

Yeah. Uh but since you use canonical bridge there is a massive wait time, right? Uh so

yes. Yeah. for optimistic rollups it's seven days and that's one of the other reasons why uh I'm building out these shielded swaps is because we have another mechanism where we can put that waiting burden on someone else in a shielded manner and then we do a shielded swap to get the uh money directly to us so someone else can wait for us for a fee basically

uh but the swap logic lives offchain

uh no onchain But the swap logic is within the shielded pool. So the uh from the outside other users don't see that the swap happened. They see a transaction happened not a shielded transaction or swap.

Okay. And there I I'll explain more about it in my talk.

So so if it's all if the swap occurs on the L1 and that must be very expensive then I assume

uh the swap can also happen happen on the L2. So the state so there are basically two pillars to build cross

is there an admin key for the smart contract?

No.

Okay. Good stuff.

All right. Thank you.

So you mentioned compliance um and that you are essentially waiting on a mainten based on compliance. Uh can you tell me a little bit more about that and how that will impact you if you'll pivot?

Yeah. Um as you know Alexi is still awaiting his appeal. So that would be a huge information for us uh what to do. But currently we're aiming to do something like rail guns proof of innocence but maybe even less invasive. We're basically uh our our values are that we respect our users consent.

So we'll never ask for the user to send out data without their consent. U but we will build the tools for responsible disclosure like a proof that a centralized exchange can ask. Are you off this blacklist? Yes or no? I don't need to know who you are.

Just you're not on the blacklist. You know, proof of innocence and all that, but uh yeah, we'll put the uh responsib responsibility on the centralized exchange and provide them tooling.

All right. Good. Good stuff. What happens when the protocol becomes insolvent in the scenario that one of the admin keys on one of these L2s is exploited?

Yeah. Um that's really bad. So that that's the current situation with roll-ups right now is that they're not really rollups, but uh for instance AAC recently launched, they have vulnerabilities and still in alpha, but they're immutable roll-ups. So something like Aztec's really amazing.

I think they represent like 0.0000 something percent of the total volume. But go Aztec. [laughter]

Yeah, I love Aztec. Uh but don't deposit anything in Aztec yet that has live vulnerabilities. But uh I I think there will be a better trend of native rollups of uh the execute op code. Uh, and of course we're going to build crosschain toad swaps, uh, shielded swaps, which I'll explain more in my presentation, but that allows us to also bridge to a whole other layer one.

And my favorite question, what's the revenue model?

All right. Um, yeah, for now we're thinking of doing a uh deposit fee uh inside the UI.

Okay. Great questions from the judges. Um, yeah. Uh, a huge round of applause for them, please. Okay.

I also think that's very important that the judges are asking how they're going to make money from this because that's also important. Well, uh, judges are going to give their score while they're doing that. Thank you very much. And, um, yeah, let's hear it from the judges. Yeah.

Okay. Okay, we have an eight, a three, and a six. Yeah. Okay. Thank you very much again.

Moving on, we're going to have Nilism Neil Helium. Yeah, it's a bit of a tongue twister, I would say. Hopefully, the protocol is easier to understand. [laughter] Welcome.

Yes. Okay. Uh well, welcome. Thank you for being here. Um my name is Olaf.

I'm the founder of uh Nihelium. Um and today I will talk about Nihilium recovery which is a keyless chain agnostic uh account recovery allowing you or the developer to give the users a real safety without ever becoming their custodian. Now it's important to classify one thing is that nihilium is two things. uh one is a protocol which is fully open source infrastructure uh completely agnostic meant for generalized secret recovery. What we now talk about is Neium recovery which is the product which is this protocol applied to account obstruction and with added security per chain.

Now every wallet reaches the same fork the same problem and the same choice. Um we had a panel this morning which displayed that perfectly. um you either stay fully self-custodial and let the user to a large degree deal with all of the recovery mechanisms that you present them which is what causes a lot of the user churn uh and turnover of about 90% of people um basically stop using crypto simply because of the simple warning sign don't lose this or you have the simple choice that you introduce a middleman and become a either a dependency or a full-time um custodian and account recovery in that sense is one of the last unsolved products for self- custody and this is exactly what we're solving uh with an SDK um to explain the full thing will be too much in a five minutes so the goal here is to go to developers with a simple SDK where they can start sealing and recover uh without ever leaking any key material it only introduces new key material uh this works multi-chain uh it has one seal, it has one interaction. It would work in the same way a bit 39 seed phrase uh for multi-chain wallets and this is one recovery method for all chains. Um we're now building on the EVM and next will be Salana but it is designed to work with every chain that has at least a minimum amount of scripting capabilities like Bitcoin Case Dash with the exception Monero.

So same seal recovered for all chains. Um this is a bit of a large flowchart but the idea here is there's two mechanism to this. There's the protocol part which is the helium protocol that takes on um setting everything up and then there's the chain native security. So it has two security layers and the chain native security is there for in case helium in its infancy is still fully compromised there theft would not be a problem and can be stopped which immediately relates to the operational security we can give to wallet developers or platforms and that's the ability to pause and resume recovery but what's very important uh you can never set the destin ation or initiate um and that is like if an account is compromised, you can do as a wallet developer operational checks and see if this might be theft or not and intervene if necessary um with potentials to have an other guardian resume if the wallet developers compromised. So this protection without control without custody.

Now the market has proven demand uh for this and I would it's very quick uh privy style recovery and onboarding they onboard 120 million users it shows that better you so a better user experience allows for faster onboarding and with more and more regulation coming on things like mikar uh make this a real legal question where most of the wallet developers say well we'll just say stealth custodian And the helium recovery allows the self-custody wallets um to have a similar onboarding and user experience as the embedded and custodial wallets uh without being classified as a caspending legal review. That is we need lawyers to confirm that. Um this is a bit of the road map. Um it's mainly to showcase that this is not an easy problem to solve and it's not a fluke. I've been doing this since 2019 with last year having the technical breakthrough to make this even possible and since then been building all the formal white paper the SDK we've integrated ZK password there's a live demo you can go there if you want um a forget my password which fully interrupts with protocol that allows you to secure a password and now we're here at um the product phase um the business model we have a slide um is very simple.

Um per protected account, that's what we charge. And secondary, which is important, is the protocol itself allows for fees. And we hope that wallet developers will run the nodes themselves so they can earn back some of the fees. Um and what we're specifically looking for is wallets and platforms willing to try this out. Um that's basically what we need and with the idea is that we can do custody style account recovery without ever becoming a custodian or operational dependency.

Thank you.

So uh in the case of your platform you have um let's say these recovery operators and there's a group of them. How do you protect against collusion?

That's a long story. Um, but the idea is that the protocol allows for absolute attributability of misbehavior. This means that any type of collusion event will always leave evidence for them to be slashed. So collusion is always dangerous.

Okay.

Like are you saying slashing is the answer then in that situation? Yes. Like you like because you framed it as in they could be slashed. Like is it in the protocol or is it not?

It it's part of the protocol. Yeah. It's it's like the first principle.

All right. Well, that's a that's a very strong incentive right there. So that's that's a good one.

Do you feel like there are any competitors currently in the market?

No. I mean on the UX side there is the embedded wallet and UX and that's it's not necessarily a competitor because this actually would work on top of them. So this would you could actually if you have preview with a pass key which you would then still need to keep this could even work with that. So it could even empower the competitors on the space of UX. But there's as far as have I seen there's nothing that can do what Neium does

in the revenue model. What's that?

Uh yeah. So that was that's fine. I mean oh there it is. It's basically a per protected account. So you charge uh the wallet developers um for a a protected account.

Um

okay.

Could you maybe explain what that means a bit more and like the incentive for the wallet developer like like to pay you what that involves what they get out of it. Just interesting to understand maybe the business case a bit more around that.

Yeah. So for the wallet developer uh they would just I would currently how it looks like just a few cent per account uh

for user account.

Yeah,

that's expensive. Very expensive.

I don't know. Is that

I would say so that's extremely expensive.

Okay. I mean that's going to be a lot of money at scale, right?

Yeah, maybe that's true. Um it depends a bit on um how you would yeah maybe um the operational cost of the protocol itself um would be like

and if it's per user how do you prevent like civil attacks in that case because wallets can have millions of wallets not a problem but if they have to start paying per wallet it starts becoming a problem for them which is why they don't usually adopt such schemes right

okay well that's good feed feedback. I I mean it it is not a protocol like hard charge. So it's a paper contract style charging mechanism, right? So it's not whatever format that fits best and the market needs that's what it will be. I

I'm thinking like a like a service contract would make more sense as a like with the company instead of like a per user model just to give some constructive feedback.

Yeah, that's good feedback. Thanks. That's why I'm here.

Also, how much does it cost you per wallet? like how much you know in server cost etc where the co do you know the the costs there

yeah so the protocol operations are extremely light I mean extremely light is extremely light as in in total five elliptic curve operations

okay so at scale

per se per recovery right

check at scale is my suggestion on that but and then also I would look at wallet providers and how much they're charging because if you're asking for a fee on top of that you probably would be a little bit less than their fee and then come up with tiers or enterprise whatever from there.

So you mentioned slashing how uh uh how how would the node operators be rewarded in this case from those fixed service contracts? Uh in the end the the note operators of the protocol itself would charge their own fee uh which is basically the five elliptic curve operations. That's

so how do they get slashed? Just no revenue.

Well, that's the revenue for them and but the SL but the um funds that are at risk are a separate deposit. So it's a security deposit. They say I'm staking this amount on that. I'm honest, right? It's not It has nothing to do with the payment.

What's the stake amount required to be a uh service provider in the system?

It's not set now, but the idea is that that's a competition.

Just give it a big number and we're good.

Yeah. A big number.

I don't have any questions, but I' I've got the mic.

All right. Okay. I think the judges uh have had their questions. Uh once again, thank you very much for um your presentation. [applause]

Okay, I guess um the judges are still busy thinking um about uh

Sorry.

Yes. Uh judges, can we see what you voted on? What you think? Okay, we have an eight, a five, and a six. Okay, no.

Well done. Um, yeah. I think it's a very unique product, by the way. You don't you don't see that a lot of pictures. So, you you got something on there.

Okay, moving on. We are going to um go to sentiment. Yeah, it's already on the screen. I would say

made me so nervous. I even asked Olaf to if they could send in uh the presentation. Um, so ah, you even know how to figure that out? Uh, hi. So, my name is Yura and I'm grateful to get the opportunity to get grilled by you in a few minutes.

Um, and I built Sentiment and Sentiment is just another privacy survey tool. And but wait, because private survey, what does that actually mean? Survey means observing people and then private. So there is a bit of a weird stuff going on like an oxymoron like a silent alarm or invisible signal. And so why do we want a private survey anyway?

Well, first they're going to be three things. First we want a private from an outside attack. For example, survey tools. Two examples of large leaks, one international, one in the Netherlands. So some consulting firm called Blau had a software company they work with called Nebu and all these companies 140 companies in total gave them all the data and the survey to leaked it and two million Dutch people were victims of that.

So that begs the question is why would a survey to even hold the personal data? We can figure that out. But I just wanted to ask the question. But we do know better because our process that we have when we do elections is that we go to the polling station, we take our passport

and our voting pass and then we go there, we hand in the voting pass.

They check you out on the register and then you give you a blank ballot which you fill in and put in the bin. So there is no direct connection between the record of your participation and what you actually voted. So that's what we do in the same thing in a way you know you get invited to do a survey which can be a physical card but it the QR code could also be in an email and the QR code that contains a bunch of data and with in the app you get your stealth address what is generated for you and then you sign a transaction to go to the smart contract with this data and the smart contract checks like okay has this nullifier been used before? No. Uh, is the signature actually correct done by the organizer?

Yes. Okay. Then you're registered as a participant in the pool and that means that you get access to the questions and everything. So that all goes through lit protocol but that's for something later. Anyway, the point is we don't have any respondent database.

So there is nothing to steal. That was protection from outsiders. Now we go to protect private from insiders because you're going to do a survey. You're working at some company 200 300 people and you get your survey and it says like what department do you work in? What age group are you in?

What's your gender? How do you feel about your manager? Right? uh you can see that if this is all on one sheet of paper and even if your name is blanked out people can deduce who you are because in 200 people the department the group the gender maybe your tone of voice the kind of a complaint you're giving any survey in its full context is always can be puzzled out by the HR department who you actually are even very inconvenient for that HR manager because they actually can see while they promise anonymity they are in this awkward situation that they can actually see and know who sent in what. So how do sentiment solve this?

Okay, we're going to split the answers across different nodes. We're using Nillian like the blind compute stack from Nillian. So this is all baked into their protocol. So every little note with its de got part of the full survey of you. Um so and then when the survey owners are going to ask okay give me the results then first they ask like okay note one give me your results note two give me your results note three give me your results and only then they come together.

So never at one place your survey your blank sheet with all your questions is available at one point. There is something else called additive secret sharing which means that if you have a multiple choice question or rankbased voiting and your answer is two then you can create some sum and then spread the numbers across the nodes. So even your number two is never ever anywhere. So the point being the answers exist but the context that could identify you it just doesn't. So that was too private from I was private from outsiders, private from insiders.

But why do what do we want to be private for? Well, we want better feedback and we want better functioning organizations. And so the reality now you have 10 people in the room, nine tell the manager great plan and privately eight of them think it sucks, right? So any survey gives you noise instead of good quality feedback. And behavioral science backs this up.

I can go into that later. So the idea is that you should stop measuring what people will say in public and start measuring what people actually think. Right? So the survey promise you anonymity but you know it's not actually private because people can deduce your answers. So you always hated your answers.

You always think what would the group say? How do I involve in that everything? So the premises here is that we can create better organizations if tools privacy tool or survey tools in organizations are actually completely guaranteed private and people can trust in it. And then the general premise is that which is I think then unique to this project as compared to others like if we can get this professional cast of people of human resource managers like these legal expert medies if we can get them to trust in cryptography then we can create better functioning organizations and that will be a huge value unlock and uh yeah there are some features I can get into and the big flags that I mentioned that we build on two protocols Neil and Lit and they don't have access to your data but if they walk out then I'm done as well.

Okay, thank you. Thank you very much. First round of applause guys.

So why does this need blockchain?

Um good question. I'm I try to minimize the idea that a blockchain is involved [laughter] because the idea is that the customers are traditional companies. But you need a central register where the registration of the respondents, the people that are registered to become part of the panel, they register on chain and then lit protocol is used to gate all access to survey questions to the keys with which you manage your personal data. All that is managed through the gates that work with smart contract.

Okay. But wouldn't it be somewhat safer if let's say some of this was not public like not on a public blockchain?

Uh well the only part that is public is in that sense is your record of participation right as some I think in the first presentation someone mentioned the difference between linkability and traceability. Anyways,

so I think the question before is why put this on a blockchain and you responded by describing how it works. You didn't actually answer the question.

Um, okay. What I could add to it is that I prefer to work with neutral platforms in the sense that the premise here is that neither sentiment nor the underlying protocols Neil or uh lit can actually access your data. All right, that's the premise. Nobody can and that can only be done with the use of neutral platforms. If we can create if we did the the same sort of structure for access control, we could set up some server or some append neutrality that would be controlled by one organization.

In this sense, we're using a blockchain which is neutral.

But neutrality sounds nice. That's a nice word to use. But like in practical terms, you're not actually gaining anything by putting on the blockchain. If anything, you're exposing you're creating privacy leaks and you're adding complexity for no reason and cost.

Um I hold on to the point that if you set up the system yourselves, you create a risk by becoming a platform.

No, I'm I'm not saying I'm saying that if if you build it in a more centralized way without using a blockchain, you can provide stronger uh privacy guarantees.

Uh yeah, but I will be the No. Well, not true in the sense that there is in the setup there is no risk to your data or your your answers being leaked.

But you can have a TE set up without a blockchain.

You're really really smart and follow really quickly. you can deduce who participated. That's the only privacy issue.

But but that is what you are. So you say don't use a blockchain only for that.

Well, the TE setup is what provides the privacy and I I would argue even the coordination. The blockchain doesn't solve any problem here in this scenario. The only thing the TE does here is like make sure that the um the node owners, the people that use the the hardware that they can actually not snoop into the process because whatever happens inside the TE is also it's all those data is encrypted. So the TE is not the main protection.

So does every employee need a crypto wallet to use this? Are you on boarding the next 1 million corporate?

Yeah. Well, that was the mistake I made in the previous version which I tested out this year was that I let them do that, right? And that was so now you just create a stealth wallet in the app that is used and then after you filled out the survey, you can say like, okay, do you want to secure your stealth wallet with your actual real wallet or shall we create one for you? So, it's optional. How do you deal with the proof of human problem?

Um that can be e everything on the front. So how a company would invite people and what their conditions are that can still be plugged in in a sense, right? So proof of humanity. So in other words, the company is the gatekeeper of who is part of that survey

or or how we tested was basically I would hand you this card with a QR code

and that was my circle.

What is stopping a company from just faking it and then they can report that back to NOS's and watchd dogs etc.

Nothing else that well

just trust me bro isn't it? Well, the interesting part here is that the organization that is doing the polling is actually multic.

So imagine a situation where you are a public organization uh which also has adversarial sort of interest groups.

But if you're handing out the QR codes,

could run the process together with other organizations,

right? But if but if if you're the one handing out the QR codes, you could just fill it all out yourself and game the system. Um, well, not the answers, but you could.

Yeah, you could fill out the answers for all of your employees and game the system in that way. You absolutely could do that. There's nothing preventing the company from do that except for maybe some of the employees screaming, "I didn't write that." But they won't know, will it? Cuz it's private.

[laughter]

Very interesting, guys. Very interesting. Thank you again, Judges.

One more here.

We have one more question.

Yeah. I think also what if an employee did that or they gain access to somebody drops their card and you know time travel back 10 years ago I don't like my manager

thinking about that of course well the problem was first thing I was thinking about events right and then if you would say like at the beginning you would hand out a cards to everybody coming in then there would be all around tables here in in public bins and that would be an enormous breach. Yes.

Yeah.

Okay. Thank you judges. Uh I would say this is also a very good way to you know know when you need to build products on the blockchain or not. So it's also very interesting. Thank you very much.

Another round of applause to

it should be on the bus on the blockchain. [applause]

Judges what are we thinking?

Okay now thank you very much judges. I think you got a lot of feedback. Um yeah definitely it's a novel idea. Oh, we're not having a break. [snorts]

All right, let me get that in. And lastly, we are gonna have Tyra. Hey all, um, today I'm talking about T protocol. T protocol is the screen between your transaction and the world. So, it's a private settlement across chains.

It's postquantum. You can veil transfer and unveil. It's currently built for Solana and EVM. Um it's also planned to go beyond that. So blockchain made settlement public.

So this is a feature for verification but it also meant that financial transactions are no more private. It's in public blockchain. So kind of it's good and a bad. So now we need to find a solution for that. So treasuries, if you're doing payroll, if you're doing position liquidity positioning, if you're doing transactions between counterparties or crosschain intent, all of this is today private.

There are some part of it is some part of it is private. Most of it is public. Institutions cannot run their entire financial operation on transa transparent. This is true, right? Institution want privacy.

Even we want privacy. We don't go around and show our bank balance or tell our bank balance to our friends or family or anyone else. So the demand today exists already. We know rail gun guys are here. There is they process 1.

6 billion annual shield volume. There is also other privacy protocols out there. There are buyers that are there. Treasuries that are using these protocols. Ethereum foundation for example uses u rail gun.

Vitalik uses rail gun and postquantum state is also there. There are there are n standard. There are a lot of algorithms there. There is lot of uh schemas crypto schemas that are part of these standards. So we are at at a time in stage where this tech is needed and can be built.

In terms of market size, there's 18 trillion yearly volume that institutions are processing onchain. Not all of them are private. Only about half a billion or half a trillion is private relevant. Not that everything has to be private. So lot of transactions that happen on centralized exchange is also in in terms of needing privacy because we cannot have it on the chain.

we send it to a centralized exchange so that from there we can send it to our employees or so on the idea is that as the we want to capture 400 million per month of this volume what is the doing the is basically sending if you if there is a private pool where users can send their fund it's basically kind of shield pool similar to rail gun and then the unveil is happening through a courier. So you basically tell someone it's it's a note UTXO note and then you basic you have this you spend this note and the courier basically takes this note and then uh executes transaction on behalf of you so that you actually dis you unlink yourself from this transaction. This is for same chain. In terms of crosschain, the way I'm solving is the there is a solver who friends liquidity. So whenever you want to send fund let's say for example from arbitum you want to send fund you have first the send send uh send the fund first to the vault for to the privacy pool and then you send the in uh send the intent to the pool that you want to fund uh you want to send this fund to Solana user then you can first lock this and then the solver basically takes this and then takes this from the queue and then sends the fund to the user in the Solana and then brings a ZK proof and then uses using the ZK proof they basically claim this uh fund from the vault.

So this is how crosschain uh private transfers uh are going to be in future from on the pool. So what in terms of quant quantum uh postquantum strictness we are hashbased system. So there is no groth 16. It's post hashbased system. No um special uh ceremonies and it's also something that runs on on the m.

Uh I have tested it on on this Mac and then um also on the browser on also on my iPhone. So the prover runs on all these devices edge devices. Today it's already live in arbitum. So you can veil transfer and unveil and it's also crosschain is in the under testing. It's already passed for USDC across Solana and Arbitron and uh myself I am actually a repeat crypto founder.

Uh before this I founded BitCrunch backed by Coinbase Ventures and Animoka brands and uh the next step for Tai is to basically harden it take it to audit and then release it.

Thank you very much. Round of applause. Yeah, [applause] also seems like you've done this before. Um, speaking from, uh, the way you were very sure about how things would work. So, that's great.

Now, judges, what do we think?

So, is it you alone building on your team?

Uh, right now, yes. And, um, how does how does it make money?

So, it's going to be a BIP on Unveil. So the way I see it is you actually as a protocol only get paid when you actually provide the privacy and so when you're veiling you are not really you're actually doing a public to private pool. So your public address is exposed. So whenever users are unveiling that's when they get priv they get privacy and that's when I get a fee.

Understood.

Could you maybe explain the the like where you take the fee a little bit more exactly in the architecture? So it's going to be a 10 bit fee. Basically it's uh whenever a user un unveils funds at the point of unveiling.

But what are you doing as the company? What's the service you're providing? That's I'm still

the privacy pool is the service.

Okay.

So and the unveil I I showed you also the courier. So what we do is the protocol takes seven uh seven uh 70% of the fee for the treasury and 30% is given to the courier for the service that they're doing.

Okay, that makes a lot of sense. Um is is the does the couer have its own uh consensus notes on cryptographic rails right as far as I understand.

Yes.

Yeah. Okay. Right.

Yeah. So no one the courier also doesn't know who is the sender. All they know is who they need to send the fund to. So who is the initiator they don't know. It's just the they know the destination.

Okay. And their incentive is this fee, right? As far as I understand. Yes. Can anyone run a career?

The idea is Yeah. Yes. Anyone can run even the the one who initiated the fund or initiated the the transaction can run their own career because this is this is especially needed in case in case a courier is censoring some wallet.

Understood. Very interesting. Thank you.

Okay. So the solver cannot you said it's a hashbased system. The solver has access to the hash which means that the solver could potentially work it back or no?

No. So the way it works is the solver needs to take the the finalized uh block where this uh where they have already made the transaction. So that means that's onchain verifi verifiable so that you can actually go and verify onchain and so they cannot tamper with that because it's a it's something that uh is onchain.

Uh okay. Uh the other question is you had some estimates on some volumes etc earlier. Where do those uh estimates come from?

So that's basically calculating backwards from what is actual today's transactions. So there are about 14 trillion plus uh stable coin transactions in the last one year. So I took that plus also the ETH soul all of the transactions inch chain I'm I'm talking about all chain volume so it's not one chain all chain volume including also some which are ke volume

so you did a very thorough job um explaining the architecture what does the product look like from the user's perspective

yes I can show you um so this is I mean it's it's right now I didn't release it so the product is kind of only in a in a shape that is more like I can test it So this is basically an unveil step. You can see one USD. I know this is where the mistakes come in like TUSD, but this is actual USD. I I can actually do a um do a unveil real unveil right now. So it's going to uh Okay, I need to

It's good that it didn't send it in that scenario. [laughter]

Yeah. So I need to put the address to send. So I am actually sending it to the same depositor. So for now I am not testing the the uh um the validity. So here I was just telling the guys here that it's going to take some time because the vasom browser is only capable of running 1GB.

The prover is really complex because what I'm building is actually cutting edge spartan with this is

are you running the solver from that laptop?

Uh the solver is not running here. This is not crosschain.

Okay.

The only only corer is running and it's not running here. It's running in a server.

Okay. Clear. So my my machine is data is full see it's it's crazy. So it's right now arbitrum it's mainet um and uh yeah so you unveil done so yeah it took so one of the big challenge I'm actually right now trying to solve is the cost of gas because it's crazy um but I have already

you're on the wrong blockchain

yeah even Solana the problem is Solana has a different problem that's uh the um the amount of data you can upload in a transaction is on on it's about 1 KB and uh The proof is 32 KB because if you want to have a ZK postquantum proof uh today it's going to cost you.

It's being it's being increased in the next upgrade.

Okay.

So they say.

Yeah.

Okay. Thank you very much. Uh once again uh warm round of applause

to our presenter. Thank you very much. Um judges what do we think? Okay. Okay.

Well, nine, seven, and nine. Um, with that being said, out of calculation from my head, I think you um, yeah, have the most uh, up to-date product. So, well done on that. And also, uh, big round of applause for every one of the projects that presented today. And also big round of applause for our judges as well, Noah, Justin, and Devos.

All right. Thank you very much.