Published on February 27, 2024 · Reading time 3 minutes · Created by Fyde Labs
Let’s talk about RAILGUN (RAIL) and why we have chosen to whitelist it within our liquid vault.
RAILGUN addresses a critical issue in digital privacy: the lack of true anonymity and security in cryptocurrency transactions. By leveraging zero-knowledge proof technology, RAILGUN enables users to conduct transactions without revealing any personal information or transaction details on the public blockchain. The RAILGUN privacy system is designed for both individuals and institutions, safeguarding transaction confidentiality while maintaining blockchain transparency and integrity. RAILGUN operates cross-chain, supporting networks such as BSC and Polygon.
Fyde is a decentralized treasury management protocol that accepts native tokens, providing depositors with diversified market exposure and yield. Depositors receive $TRSY, a liquid wrapper of the vault, redeemable for a basket of tokens at any time. Fyde offers the RAILGUN community an opportunity to diversify holdings while earning yield and retaining governance rights.
Fyde’s vault includes over 40 assets, allowing traders to swap directly into RAIL from any supported asset, minimizing trading fees and enhancing adoption and trading efficiency of $RAIL.
We’ve long been believers in RAILGUN’s mission, with Fyde’s core team participating in their community since 2021. Just as privacy is valued in our personal lives, we believe users should have the choice to maintain privacy in blockchain transactions. RAILGUN brings this feature to the Ethereum ecosystem in a user-friendly manner.
RAILGUN was developed by a decentralized team of privacy advocates with extensive backgrounds in big tech and academia. The team is fully doxxed, adding an extra layer of trust. Additionally, RAILGUN has undergone audits by Zokyo and Hacken and offers a bug bounty program up to $250,000, ensuring its robustness and security.
RAIL, the token governing the RAILGUN ecosystem, accumulates ecosystem fees. RAIL holders can stake their tokens to earn governance rewards, which can amount to up to ~52% of the protocol’s treasury annually, a substantial incentive for participation.
With a $20 million market cap and over $1.5 million in liquidity on UniV3’s $WETH pair, RAIL is a strong candidate for Fyde’s vault.
As RAILGUN focuses on privacy and security, including $RAIL in the vault adds exposure to another sector outside the usual DeFi and gaming segments. Crypto sectors often rally at different times; diversifying across these segments positions users for potential gains across market cycles.
Adding $RAIL provides users with a unique investment angle within Fyde’s diversified, yield-generating treasury management strategy.