Add renZEC/ETH to the liquidity mining program

What is renZEC?
RenZEC is a decentralized wrapped version of zcash on Ethereum which can be minted and redeemed by anyone.

Why?
The pool currently has only 25$k in liquidity which the only pool across all dexes with liquidity (according to 1inch). This isn’t enough to use renZEC as a novel way to mix funds and gain privacy on Ethereum.

Example use case:
You have a Ethereum address with a awkward amount of eth, lets say 45.8 eth. Mixing that would require 4x 10 eth and 5x 1 eth mixes with tornadocash. And have some eth left over aswell.
But with a liquid renZEC pool you would only need 1 mix of 0.1 eth to get a private address to pay for gas and use zcash to mix the rest.

Pros

  • Cheaper mixing of funds then mixers like tornadocash.
  • More flexibility in mixing amounts.
  • Another liquid coin on uniswap from another chain.

Cons

  • Price exposure to zcash during mixing.
  • renZEC is still custodial as AFAIK (but wont be in the future).
  • Complicated UX to mix like this and maybe too novel.
  • Layer 2 solutions like aztecs ZK² Rollup make this obsolete in the future.

renVM: https://renproject.io/
Also Zook seemed excited by the what this pool could enable :slight_smile: : https://twitter.com/zooko/status/1283861008143003649

3 Likes

no pls no but submit a proposal and ill vote

1 Like

Wish i had that kinda cash to submit it.
But care to elaborate why such a strong no?

2 Likes

it will dilute other whales (like yearn) pharming the stable coins pools?
The rewards are divided over 4 pools and this is clarity for yield farmers.
If you bring up many pools it will dilute them.

1 Like

BTC/ETH?

When? :slight_smile:

$Core?

Its right there man.

total liquidity 144k … I think there are more important and liquid tokens out there. renBTC I’d understand and even consider as an idea but renZEC I don’t.

1 Like

Yes afaik it would.

But my theory is that people want to trade zcash in a decentralised way. And that the renZEC pool on uniswap would be great for that! So incentivizing liquidity could help with that.

Also users are sticky so those from the zcash community might stick around to use uniswap more. Which if the fee switch is set to this pools means that uni holders can earn revenue for this activity.

Also zooko and the zcash forum seem excited by renZEC potentially being added to maker!

Well that is why i want it to be added so people would ad liquidity so other can trade!

wbtc/eth is already a pool collecting rewards.
renBTC seem pretty liquid
But tBTC could use some love