AnonyFlex
This is a decentralized application that allows users to prove their wealth via wealth-flex NFTs with privacy guarantees.
Application type
zkDAO
Proposal overview
This application will allow anyone to mint an NFT corresponding to their wealth after undergoing zero knowledge verifications. Users start by submitting their funds in ETH/ONE to a mixer. They get a credit note (secret note) to mint wealth-flex NFTs. Any wallet presenting the right zero knowledge proof (possessing the secret note) will be able to mint a flex NFT club token (FNC). Each deposit will have a unique external nullifier and the user will only be able to expend once per each external nullifier. The deposited funds can be withdrawn after a fixed wait period (to prevent flash loans).
Use Cases
This application will serve as a DAO tool to allow decentralized organizations to authenticate users based upon their net worth without violating their privacy. According to the Messari Report, DAO tooling is an existential need right now across crypto communities and privacy has always been a major concern in the blockchain space. A major problem when joining blockchain communities is privacy. On the one hand, it is important for a community to know the newcomers’ merits. On the other hand, it is important for new members to be able to protect their privacy. The problem here is how can a new member prove their merits without revealing their identity.
In this project we realize one aspect of new members’ merit, i.e., net worth, with full privacy guarantees.
Competitive Landscape
Bored apes, crypto kitties, and other valuable NFTs are examples of flex NFTs. These NFTs got famous first and then started to serve as a wealth-flex item. One problem is that privacy is not guaranteed with the existing solutions. Moreover, our application proves users’ wealthiness by means of a nontransferable NFT token, which is not dependent on the market value of collectible NFTs. Holders of AnonyFlex NFTs form an exclusive club. Collective proof is an example of such exclusive clubs. The existing clubs do not offer privacy guarantees.
Proposal Ask
The AnonyFlex application will be established to be community-driven and self-funded by the DAO in a bid to bring privacy to the DAOs. In order to get this up and running, we will be requesting the $15k/year stable basic income to take care of initial development, welfare and operations costs.
This ask will be in line with the laid down milestones as detailed below
- launching a feature-complete product on our testnet
- forming a DAO with 5-out-of-9 multisig with our DAOs
- launching on our mainnet with audit
- attracting 1k daily active users (with launch video, full PR promotion)
- attracting 10k daily active users (with a detailed roadmap, governance process)
Our public road map
| Objective | Date | Status |
|---|---|---|
| Testnet launch | 5/5/2022 | Completed |
| Beta Testing and Fixes | 5/10/2022 | Completed |
| Mainnet Launch | 5/16/2022 | Completed |
| Smart Contract Audit | 6/30/2022 | Pending |
