- Daniel Finley
- March 22, 2023
- 1:00 am
- 0 comments
Findora Brings Zk to NFTs, DeFi, and all EVM Tokens with Prism++
Prism++ Ushers in a new Era of zk-programmability in Web3
Discreet Labs’ newest milestone allows NFTs and EVM tokens to be transferred to its UTXO-based zkLedger. Called Prism++, this development opens the doors to ground-breaking new possibilities for users, developers, and Web3 — and it’s available today on Findora’s Anvil Testnet.
Before Prism++, only FRA tokens could be confidentially transferred from Findora’s EVM ledger to its UTXO ledger. Prism++ changes that, allowing any FRC-20, FRC-721, or FRC-1155 token to be selectively transparent on Findora on Findora’s zkLedger. Through Prism++, tokens like USDT, ETH, BNB, MATIC, and more can all be confidentially held, traded, and transferred.
Prism++ opens the doors to ground-breaking new possibilities for users, developers, and Web3
With Prism++, Findora brings confidentiality and selective transparency to DEXs, NFT marketplaces, lending protocols, DAOs, and more. Projects will be able to choose the level of confidentiality they need for their use case, interacting with the Prism++ smart contract directly on their dApps.
What is Prism and Prism++?
Findora is made up of two chains: a UTXO-model chain for optimized for zk cryptography and an EVM chain for programmability and interoperability. The two ledgers are parallelized, meaning they share the same consensus mechanism, and are linked together by Prism. By linking the EVM chain, which is fully transparent, with the UTXO chain, which offers selective transparency, Findora combines EVM programmability with zero-knowledge proofs — two environments that, before, had proven difficult to integrate with each other.
Prism++ is an upgrade to Prism. Instead of supporting only FRA tokens, Prism++ allows any FRC-20, FRC-721, or FRC-1155 token to be transferred to the UTXO chain for confidential transfers. Additionally, instead of being limited to the wallet, any Solidity developer can interact with the Prism++ smart contract directly with their own smart contracts.
Now on the Anvil Testnet, Prism++ comes with many features and opens up exciting new use cases. It will allow NFTs to be permissionlessly stored on the UTXO, keeping their tokenID confidential and indirectly helping to keep the metadata confidential. The soon-to-be-launched Prism++ SDK will let developers integrate Prism++ using JavaScript, paving the way for zkNFTs, business-ready stablecoins, and confidential DEXs on Findora.
Prism++ represents a landmark achievement for on-chain encryption in Web3, combining confidentiality with programmability for new assets through zk. It allows Findora to strike a balance between scalability, practicality, efficiency, and user-friendliness.
Building On Findora with Prism++
With Prism++, Findora extends its list of use cases and gives developers more options. Here are some applications developers can now build with Findora:
1. Payroll and Fundraising
On-chain confidentiality is essential for business. Whether for payroll or fundraising, keeping the identities and transaction amounts confidential can be an essential feature. Through Findora’s ZK-ledger and Prism++, businesses will be able to issue payroll on-chain and raise money while protecting the identities of investors.
2. Confidential NFTs
Findora, with Prism++, allows developers to enable confidential NFTs. For example, users will be able to issue or send NFTs through Findora without revealing their token ID or what NFT they are sending. This makes NFTs suitable for more use cases, like as an online identifier in a decentralized ID system or even as a marker of corporate intellectual property ownership.
3. Business-Ready Stablecoins
Prism++ could also be used to create selectively transparent or confidential stablecoins, making them ready for real-world business use. For instance, users could transfer USDT from EVM networks to Findora’s zk cryptography to protect sensitive information like transaction amounts. This would effectively make USDT like digital cash and allow businesses to send transactions without signally their movements to competitors. It makes stablecoins like USDT more suitable for mainstream adoption.
4. Selective Transparency for DEXs
Using Findora, DEXs can bridge tokens through Prism++ for confidential trading. This can help protect proprietary trading strategies, keep funds safe, and allow for encrypted lending and borrowing.
Next Steps
Now that it is on Anvil testnet, Prism++ will go through rigorous community and internal testing before being deployed to mainnet. Stay tuned to Findora’s Twitter to learn how you can help test Prism++! Your feedback is important, and your voice will be heard.
Collaboration is the focus of Discreet Labs. We want to unlock zk for Web3 with other Web3 teams. As a result, Prism++’s source code will be made available under the GNU General Public License v3 (GPLv3) so that developers, researchers, and community members to actively engage with Prism++.
Learn how to help test Prism++ here.
About Findora
Findora is a Layer-1 protocol delivering zero-knowledge solutions to Web3.
Findora integrates two ledgers into a single chain: an EVM ledger for interoperability and a UXTO ledger optimized for zk operations. This dual-layer architecture lets Findora encrypt blockchain data for programmable transparency and public use. By providing new use cases, Findora’s zk tech prepares Web3 for real-world adoption.
We appreciate our developers and would love to onboard you to the Findora ecosystem! Please reach out, and join our social channels for more.
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