PrivacySwap, (privacyswap.finance), is a project with the goal to bring privacy features to the Binance Smart Chain (BSC). In a nutshell, PrivacySwap is a yield farming ecosystem running on the Binance Smart Chain (BSC). It is the brainchild of a group of cybersecurity professionals who understands the merit of cryptocurrency, blockchain, and cybersecurity.
The main goal of PrivacySwap is to allow users to utilize blockchain and DeFi safely and securely. As DeFi has gained immense popularity over the last few years, it makes perfect sense that it is also the best platform for greater visibility. While doing so, we hope that we are able to help participants stay happy with returns on their time and faith in PrivacySwap via rewards.
PrivacySwap will achieve its vision of a private and safe to use blockchain with its governance and utility token, called PRV. PRV will be used to stake in order to earn rewards while enabling developers to earn a slight percentage of those rewards to further push forward the goal of privacy on the blockchain and DeFi.
While comparatively new to the market, PrivacySwap has developed a clear vision of where it wants to go.
- Increase the platform value for users via the yield optimizer.
- Ensure the protocol’s good health status by pursuing CertiK audits after its yield optimizer is tested and deemed ready for launch.
- Launch the PrivacySafe Mixer to establish and maintain a gold standard for privacy on the blockchain.
- Inject fun revenue streams, i.e. lottery, that is optional to all community users.
- Develop a PRV-accepting debit card that will value-add to the overall platform experience.
The full roadmap can be found here.
Now Live: PrivacySwap Vaults
Recently launched and now live, PrivacySwap Vaults are auto compounding Vaults that as of now, are only focused on BSC projects. The Vaults are not yet cross-chain but the team is exploring this for the future. PrivacySwap Vaults leverage other platform’s farms and help users auto compound their rewards.
At the same time, PrivacySwap portions out about 10% of the profits as a performance fee, which is distributed based on the following schedule:
Breakdown of Performance Fee (total: 10%, calculated from profits)
Harvester (0.5%): User who applies their BNB to pay for gas to harvest profits.
Strategist (0.5%): The person that wrote the strategy smart contract.
Treasury (3%): Used by PrivacySwap to conduct PRV buybacks to deflate its circulation.
Developer (1%): Use to further develop PrivacySwap’s products.
Vault Rewards (5%): Profit-sharing with users who stake in PRV Single Asset Vaults.
The main goal is to incentivize PRV holders endlessly and increase their earning capabilities.
“Whether you are new to crypto-verse or seeking better ways to optimize your crypto assets, your privacy and security matter. Now is the best time to become part of PrivacySwap. Here, the community will always have a crucial role in helping achieve privacy while enjoying the rewards produced by the ecosystem.”
– The PrivacySwap Team