Private DeFi like you’ve never seen before

Now live: https://app.poof.cash for Celo and Fantom!

Here, we’ll go over the core features:

  • Private savings
  • Private send/receive
  • Private loans.

Private savings account

Better than a bank account because only you can see your balance.

If you’re looking to just earn some interest, Poof v2 is a great place to park your CELO/cUSD/cEUR. Depositing into Poof makes keeps your token balance private while still earning you interest.

Private Send and Request

Just like Venmo except that it’s completely private.

Sending crypto with Poof v2 does not require use of a public wallet. This makes it possible to send without revealing anything about your identity, balances, or transaction history.

Requesting crypto with Poof v2 also does not require use of a public wallet. Poof v2 can generate crypto request links that you can share with anyone. The user fulfilling the request will have no access our identity, balances, or transaction history.

Leverage against your private balance

0% interest loans with a 100% collateralization ratio.

Generally, an issue with just depositing into privacy protocols is the opportunity cost from poor capital efficiency. Poof v2 changes this.

With Poof v2, you can borrow up to 100% pTokens against your private balance. These pTokens will have liquidity through Mobius and Ubeswap which will make it possible to use the borrowed capital for things like farming and providing liquidity.

Partner integrations

On Celo:

  • Poof v2 automatically lends to Moola v2 to earn users interest
  • Mobius will host a pUSD liquidity pool to trade pUSD into assets like cUSD and USDC
  • Ubeswap will host a pUSD liquidity pool to trade pUSD into CELO

Security

Poof v2 is built on zkSNARKs, and as some know, trusted setup is needed for secure parameterization. To this end, we’ve adopted PLONK as the zkSNARK protocol for this project. PLONK makes it possible to utilize a single universal setup for any circuit, meaning Poof v2 does not need circuit-specific setups. We used parameters from the perpetual powers of tau ceremony.

Poof v2 has also received audits from Bramah systems. The audit report can be found here here.

If you like what we’re building, you are encouraged to follow us on Twitter for updates and/or join our community on Discord and Telegram!

A protocol for decentralized, private transactions on Celo