Morphose
Fully Decentralized Protocol for Private Transactions on Binance Smart Chain
What is Morphose?
How Morphose Works?
Deposit
A user connects to Morphose app with his/her wallet and deposits BNB to Morphose smart contract to get a random key (Note) in return.
Wait
Even though it's not necessary, it is better to wait some amount of time for other people to deposit to improve privacy.
Key Features
Morphose is the first fully decentralized protocol for private transactions on Binance Smart Chain. That means her smart contracts are immutable without admins or owners, her UI lies on IPFS and she doesn't depend on third-party off-chain relayer business entities that may risk deanonymizing the user. Morphose also takes the lowest commission of 0.75%, has multiple denominations and uses lowest gas fees when compared with competitors. In addition to these, MORPH token holders can use the protocol for free and earn up to 200% APR on top of it.
Karl Blossfeldt & Stanislas Chaillou
Use Cases
Single Person
1 - Alice sends 1 BNB to wallet A
2 - Alice deposits 1 BNB to Morphose with wallet A
3 - Alice withdraws 1 BNB from Morphose to wallet B
4 - Alice transacts privately with wallet B
Karl Blossfeldt & Stanislas Chaillou
Technical and Legal Overview
Alice and Bob deposit 1 BNB to Morphose 1 BNB denomination smart contract. Bob withdraws his 1 BNB with a new wallet. When we look at the transactions on BscScan, can we say that Bob withdrew his funds? No, because the withdrawer may well be Alice with a new wallet. This is how Morphose “mixes” the transactions to break the link between source and destination addresses. Bob sends 1 BNB to a pool of 1 BNBs and withdraws 1 BNB from the same pool, with a new wallet.
Morphose lets users to deposit and withdraw only in denominations such as 0.1, 1, 10 or 100 BNB and with new wallets every time. For every deposit, the user gets a secret (note) that he/she can use to withdraw to a new wallet. Zero-knowledge proofs (zkSNARKs) enable obfuscating deposited token history without revealing which exact deposit corresponds to the secret.
While Morphose makes private transactions on Blockchain technically possible, is it legal to use her? Morphose is non-custodial. She doesn't hold keys and is not tasked with storing funds like an exchange. You have the complete control of your wallet keys you use Morphose, therefore your funds and for what purpose you use your funds. Morphose is no different than Metamask wallet on Blockchain or Chrome web browser on Internet. In addition, Smart contracts and UI of Morphose are ownerless, lying on 1000s of multi-noded Blockchain and IPFS that won't be stopped or manipulated. Morphose is no different than Bitcoin. Afterall, Morphose can be used for good or bad purposes and not the protocol or Blockchain, but her users are responsible from them. There are questions and use cases that can always be discussed. What can't be discussed is the fact that privacy is a fundamental human right that nobody can have right to interfere with.