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docs: copy: Include our switch to PlonK, and add information about op…
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…tional KYC compliance
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ChrisBender committed Apr 4, 2024
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17 changes: 3 additions & 14 deletions docs.renegade.fi/docs/advanced-concepts/crypto-stack.md
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Expand Up @@ -8,13 +8,9 @@ description: The Renegade crypto stack.
## Zero-Knowledge Proving

For all zero-knowledge proofs, we use
[Bulletproofs](https://eprint.iacr.org/2017/1066). We chose this proving system
as it has very low relative prover latency and is fully transparent, meaning
that it does not require a trusted setup like Groth16. In addition, it is
friendly to collaborative proving, unlike more modern transparent schemes like
FRI / STARKs. Bulletproofs are not succinct (so, technically Renegade does not
use SNARKs, just NIZKs), but we currently use StarkWare for scalability, so the
relatively-high verifier complexity is no issue.
[PlonK](https://eprint.iacr.org/2019/953.pdf). We chose this scheme for its
ease of verification in an EVM context and its friendliness to collaborative
proving, unlike more modern transparent schemes such as FRI / STARKs.

## Multi-Party Computation

Expand All @@ -23,13 +19,6 @@ For MPC, we use maliciously-secure two-party
scheme, as our circuits are arithmetic and we may potentially expand to more
than two parties in the future.

## Hash Functions

For hashes, we use arithmetic-friendly
[Poseidon](https://eprint.iacr.org/2019/458) everywhere. For cross-proof
witness consistency checks, we use Pedersen commitments, as we can save work by
re-using the Bulletproof commitments.

## Asymmetric Cryptography

For public-key cryptography (used to encrypt matching outputs and to encrypt
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18 changes: 10 additions & 8 deletions docs.renegade.fi/docs/getting-started/faq.md
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Expand Up @@ -8,10 +8,9 @@ description: Frequently Asked Questions about Renegade.

### What is the current status of Renegade?

The project is under active development. As of Feburuary 2023, we have
implemented core handshakes, SPDZ, and Bulletproofs primitives, and have begun
work on circuit implementations, interface design, and bridging. A public
testnet is expected in Q2 2023.
The project is under active development. As of April 2024, the network is fully
working end-to-end and is undergoing load testing as we roll out the public
testnet.

For priority access onto the whitelisted testnet, [sign up
here](https://renegadefi.typeform.com/access). Otherwise, you can follow along
Expand All @@ -37,7 +36,8 @@ more details.
### What blockchain is Renegade built on?

Peer discovery and order matching occurs on our independent p2p gossip network.
Consensus and security is inherited from Ethereum via StarkNet.
Our smart contracts, including our ZKP verifier, are deployed on [Arbitrum
Stylus](https://arbitrum.io/stylus).

### Does Renegade use Trusted Execution Environments?

Expand All @@ -51,14 +51,16 @@ and has no hardware trust assumptions.
Order placement and cancellation is <1ms if you are running in super-relayer
mode (see [Super Relayers](/advanced-concepts/super-relayers)). We are
constantly optimizing both latency and gas fees, but current estimates are
~100-500ms to match an order (fully parallelizable over all outstanding
counterparty orders). Gas costs are ~10 USD to create a new wallet, and ~1 USD
~500ms to match an order (fully parallelizable over all outstanding
counterparty orders). Gas costs are ~0.5 USD to create a new wallet, and ~1 USD
for each deposit/withdraw or positive order match. Certain flags exist to
maximize privacy, in exchange for higher gas fees.

### Does Renegade custody assets? Does Renegade need KYC?

No, never. The protocol is open, permissionless, and immutable.
No, never. The protocol is open, permissionless, and immutable. Traders can
voluntarily opt-in to match with a subset of counterparties that have passed
KYC, but this is not required.

### Is Renegade Hiring?

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28 changes: 14 additions & 14 deletions docs.renegade.fi/docs/getting-started/intro.md
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Expand Up @@ -44,9 +44,11 @@ learn the details of your balances or trades.
## Why use Renegade?

In addition to avoiding the counterparty risk that exists in centralized
exchanges and OTC desks, Renegade solves many problems in current DeFi spot
markets, ultimately giving you better prices and optimal execution:
exchanges and OTC desks, Renegade solves many problems in current spot markets,
ultimately giving you optimal execution:

1. **Midpoint execution**. All trades clear at the real-time Binance midpoint
price. There is never any spread or price impact when using Renegade.
1. **Pre-trade privacy**. Before your trade is matched, no one can see any
details of your order. Larger trades that would normally move the market
when rested on an order book or detected in the mempool can now be filled
Expand All @@ -57,9 +59,9 @@ markets, ultimately giving you better prices and optimal execution:
1. **Zero MEV**. Since validators only ever see zero-knowledge proofs of
valid trades, there is no ability for block producers to front-run, back-run,
or sandwich your trades.
1. **Midpoint execution**. All trades clear directly at the real-time aggregate
CEX midpoint price. Trades do not need to cross a spread, and there is never
any slippage.
1. **DeFi-native compliance**. Even though Renegade is a fully decentralized
exchange, traders can opt-in to only match with a subset of counterparties
that have proven their identity.

By default, trades on Renegade are **anonymous crosses** that trade at the
theoretically-optimal midpoint price. However, Renegade optionally implements
Expand All @@ -72,19 +74,17 @@ Given the wide range of information leakage problems that exist in current DeFi
systems, many different types of traders can see price improvement with
Renegade:

- **Liquid Token Funds**. Instead of trading against an OTC desk's spread,
takers can directly cross their orders against counter-flow at the midpoint
price.
- **Market Makers**. If one market maker is long some asset and another is
short the same asset, the desks can anonymously net out these two positions
against each other, balancing inventory without needing to cross a public
spread.
- **OTC Takers**. Instead of trading against an OTC desk's spread, takers can
directly cross their orders against counter-flow at the midpoint price.
- **AMM Takers**. Traders who move $5k+ at once through on-chain DEXes often
incur significant price impact, get sandwiched by MEV searchers, and lose
money to cross-exchange arbitrage. With Renegade, trades are always
guaranteed to execute at midpoint prices.
- **Privacy-Conscious Crypto-Natives**. Renegade maintains complete anonymity,
meaning that no third-party can see any details about trade or payments
history.

## Overview of the Docs

Expand All @@ -106,10 +106,10 @@ finally, for the most precise description of the protocol, see the detailed

## Get Access to Renegade

Renegade is currently in an internal testnet, with a public testnet expected in
Q2 2023. The network will be rolled out to whitelisted testnet participants
over time: [Sign up here](https://renegadefi.typeform.com/access) for priority
access.
Renegade is currently in a private testnet, with a public release expected in
early Q2 2024. The network will be rolled out to whitelisted testnet
participants over time: [Sign up here](https://renegadefi.typeform.com/access)
for priority access.

Otherwise, feel free to contact us with any questions or feedback:

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