Cyclone Protocol
Cyclone is a transaction privacy protocol based on zkSNARKs. It provides transaction privacy by breaking the on-chain link between the recipient and destination addresses.
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CYC Price Live Data
The live Cyclone Protocol price today is $106,37 USD with a 24-hour trading volume of $32 605,89 USD. We update our CYC to USD price in real-time. Cyclone Protocol is down 5,05% in the last 24 hours. The current CoinMarketCap ranking is #1368, with a live market cap of $2 795 720 USD. It has a circulating supply of 26 282 CYC coins and a max. supply of 50 000 CYC coins.
If you would like to know where to buy Cyclone Protocol at the current rate, the top cryptocurrency exchanges for trading in Cyclone Protocol stock are currently MEXC, PancakeSwap (V2), Hotbit, Uniswap (V2), and QuickSwap. You can find others listed on our crypto exchanges page.
CYC is the original token of Cyclone Protocol for anonymous transactions. Cyclone is a multi-chain, non-custodial, privacy-preserving protocol. Cyclone applies zkSNARKs to enable transactional privacy by breaking the on-chain link between depositor and recipient addresses. Cyclone Protocol is fueled by the CYC token, which is designed to incentivize anonymity providers, liquidity providers, and users. CYC is supported by Halo, the development incentive plan of the IoT public chain, IoTeX, and is launching first on IoTeX. After that, Cyclone will launch on Ethereum, Polkadot, Heco and other public chains in the future. CYC is NOT pre-mined or pre-allocated for investors or team. Those that contribute to Cyclone will earn CYC.
These docs are in active development by the Cyclone Community.
By default, your entire blockchain transaction history and balances are public. All transactions can be seen on block explorers like Etherscan. Anyone who knows that you own a particular address can quickly view your payments, trace the source of your funds, calculate your holdings, and analyze your on-chain activity.
But what if you did not want your history and balances to be publicly viewed by everyone? What if you wanted anonymity and privacy when it came to your transactions?
Cyclone is built to address these problems and aims to provide enhanced economic incentives. Cyclone is a cross-chain, non-custodial, universal privacy-preserving protocol with the decentralized governance. Cyclone applies zkSNARKs to enable transactional privacy for all DeFi components by breaking the on-chain link between depositor and recipient addresses. It uses a smart contract that accepts coins/tokens deposits, which can be withdrawn by a different address. Whenever an asset is withdrawn from Cyclone, there is no way to link the withdrawal to the deposit for absolute privacy.
While Cyclone's zkSNARKs part is based on the attested implementation of tornado.cash, it offers unique values in supporting cross-chain and being the universal privacy-preserving layer for almost all DeFi components with the decentralized governance by CYC holders.
Cross-chain.
Cyclone has been launched firstly on IoTeX as it is a fast and EVM-compatible blockchain with an active community. Thanks to anonymity mining and liquidity mining that properly incentive contributions to the anonymity pools, the first four anonymity pools launched got 3+ million USD TVL in a few days, according to https://cyclone.xyz/stats.
Cyclone aims to launch multiple anonymity pools for various assets on Ethereum, Binance Smart Chain (BSC), and other EVM-compatible public blockchains in Q1/Q2 2021. We will be looking at launching on Polkadot and other non-EVM public blockchains in Q3 2021. CYC will be THE TOKEN for all instances of Cyclone Protocol.
Decentralized Governance.
Cyclone Protocol is governed in a decentralized way. The governance DAO lives on IoTeX blockchain while each anonymity pools live on different blockchains connected to IoTeX blockchain via bridges (such as ioTube). We estimate the governance DAO will be activated in early Q2 2021.
At least the following rights are entitled to CYC holders:
Which blockchain to support next
Launch a new anonymity pool with a certain asset
Update params of an existing anonymity pool, e.g., CYC to mine per day
Launch a new liquidity pool
Update params of an existing liquidity pool, e.g., CYC to mine per day
Other token economics of CYC
Universal Privacy-preserving Layer for DeFi with Yield Aggregation
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CYC Price Live Data
The live Cyclone Protocol price today is $106,37 USD with a 24-hour trading volume of $32 605,89 USD. We update our CYC to USD price in real-time. Cyclone Protocol is down 5,05% in the last 24 hours. The current CoinMarketCap ranking is #1368, with a live market cap of $2 795 720 USD. It has a circulating supply of 26 282 CYC coins and a max. supply of 50 000 CYC coins.
If you would like to know where to buy Cyclone Protocol at the current rate, the top cryptocurrency exchanges for trading in Cyclone Protocol stock are currently MEXC, PancakeSwap (V2), Hotbit, Uniswap (V2), and QuickSwap. You can find others listed on our crypto exchanges page.
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