TensorUSD Price(SN113)

Taonado is a decentralized privacy-preserving protocol built on the Bittensor network, specifically operating as Subnet 113. It is designed to provide anonymity for transactions within the Bittensor ecosystem by functioning as a non-custodial token mixer. The project is inspired by the principles of zero-knowledge privacy protocols like Tornado Cash, aiming to decouple the on-chain history between sender and receiver addresses. At its core, Taonado utilizes zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge) to facilitate private transfers. The process involves users depositing fixed denominations of the network's native token into shielded liquidity pools. Upon making a deposit, the user receives a private cryptographic secret or note. This note can later be used to withdraw the funds to a completely new and unlinked wallet address. By aggregating many deposits into these shared pools, the protocol breaks the traceable links on the blockchain, providing a higher degree of financial privacy for participants. The project is deeply integrated into Bittensor's incentive structure. It operates an incentive model where participants, referred to as miners or liquidity providers, are rewarded for contributing to the anonymity set. By keeping funds in the shielded pools, these participants help increase the overall security and privacy of the network. The protocol is designed to be permissionless and open-source, allowing anyone to audit the code or interact with the smart contracts through a command-line interface or compatible web interfaces. The roadmap for Taonado includes several phases focused on expanding the utility of Subnet 113. This includes bootstrapping initial liquidity, establishing core token pools with various denominations, and eventually enabling privacy features for other tokens across different subnets. The project also explores advanced concepts like Proof of Liquidity, which allows miners to verify their commitments using zero-knowledge proofs without revealing specific amounts. Development of the project is conducted by a pseudonymous team that emphasizes community-driven growth and transparency through open-source repositories. By providing a dedicated privacy layer, Taonado seeks to address the transparency of the Bittensor ledger, allowing developers, miners, and validators to manage their rewards and assets with greater discretion. Learn more

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