Request for Anonymity (RFA) — Cyclone Protocol

After the successful launch on Binance Smart Chain (BSC), Ethereum, IoTeX, Cyclone Protocol already provides anonymity for 7 mainstream crypto assets — ETH, USDT, BNB, BUSD, IOTX, TORN, VITA. In the next 3months, Cyclone Protocol aims to support 36 ERC20/BEP20/XRC20 tokens on Binance Smart Chain (BSC), Ethereum, IoTeX, Polygon(Matic), and other EVM-compatible chains, to become the multi-chain anonymity-providing protocol.

Of course, only high-quality assets with active development and communities deserve a high degree of anonymity. The way to get this list of 36 tokens is inspired by an innovative technology named Token-Curated Registries (TCR), which was original proposed by Mike Goldin. A token-curated registry uses an intrinsic token to assign curation rights proportional to the relative token weight of entities holding the token. So long as there are parties that would desire to be curated into a given list, a market can exist. The incentives of rational, self-interested token holders are aligned towards curating a list of high quality. Simply put, token-curated registries are decentrally-curated lists with intrinsic economic incentives for token holders to curate the list’s contents judiciously.

The original TCR requires users to vote for or vote against candidates added to the list, creating complexity for users. For example, a typical TCR’s challenge phase makes the minority voters lose their deposits to the majority voters and requires every user to be always fully informed. While keeping the list curated by the stakeholders, we slightly change how to `vote for` and `vote against` a token to make it more understandable for everyone.

Here is how RFA works.

1. On the first day of each week we will put on a poll on Twitter with several candidates which are high-quality tokens with active communities.
2. People on Twitter vote for them for two days.
3. The anonymity pools for the top 3 tokens will be added to https://cyclone.xyz each Thursday. The denomination will be 10,000$ worth of the token, and the anonymity mining reward will be 0.01 CYC per day shared among all anonymity providers for 30 days.
4. After 30 days, the anonymity pools with TVL exceeding 500,000 USD will be promoted. A way bigger anonymity mining reward will be injected for another 90 days to keep the pool active; otherwise, we will keep the anonymity pool running without anonymity mining reward.
5. The promotion of anonymity pools will go through community voting on snapshot.

The RFA will start on May 17, 2021. With that, Cyclone Protocol begins to offer anonymity for all crypto assets on multiple blockchains, with CYC to be the unified utility token to fuel and govern all. Our goal is to make Cyclone Protocol the default anonymity-enabling and privacy-providing protocol for all blockchains and crypto assets.