Suterusu is about to start auction on June 7. Although it has been postponed, it is also promoted in an orderly manner. In the past month, with the continuous expansion of the team staff, there is a new feeling. Therefore, this article continues to follow up the recent project dynamics of the SUTERUSU to predict the possible impact of the XSUTER auction on the Suterus project, and the recent AMA AMA sharing project CTO Linbo AMA Someworders’ views on SUTER technology.
Two articles in Friman have written the SUTERUSU project before, “Comprehensive interpretation of Suterusu: Is it a dark horse in a privacy track or a disabled? “And” Interpretation of XSUTER: Some Thinking about SUTERUSU’s New Economic Model “. What needs to be explained here is that in the second article about the economic model of the Suterusu, it is mentioned that the XSUTER and SUTER tokens are the lock mode of “two to one”. XSUTER must be returned to the public contract pool after the pledge is over. This sentence is actually wrong. After communicating with the official personnel later, the XSUTER pledge is actually locked for 15 days after the end of the pledged pledge can be returned to the user. In my opinion, XSUTER tokens actually dilute some of the value of the native SUTER tokens, because the value of the SUTERUSU protocol in the future is captured by 10 billion SUTER and 32,000 XSUTER. The comparison of the auction model has been analyzed in previous articles, and this article will not be repeated.
1. The potential impact of XSUTER tokens auction on SUTER
After clarifying fresh auction models, we can estimate the number of locking Sutr pledge based on the current XSUTER value, so as to draw a better support for the second-level market currency price of the SUTER secondary market in the next 2-3 months “. in conclusion.
At present, the CMC on XSUTER shows about 500U, but it is actually futures prices, and the circulation is very small. At present, there are 2225 BNB, 918312 BUSD, 430 CAKE and 15 BAKE in the first round of dividend pools. According to the current price of about 200WU, the number of XSUTERs participating in the dividend for the first time is 2W, which means The value is 100U, and the individual expects that the price of XSUTER in the current market environment is about 150U-200U. In any case, assuming the price of XSUTER in the next week is stable at 200U, 19,000 auctions in the first round, and the total value of the auction is $ 380W, which means that the pledge reward of the Suter The value of $ 380 is expected to have a cash value of $ 200W, and 1.8 million US dollars is the value of future dividends.
So how many SUTER tokens can be locked in the $ 3.8 million reward? According to the BSC SCAN browser, the current SUTER tokens on the BSC are 1.7 billion pieces, and the cloid volume of SUTER is expected to be around 3.8 billion. Because this auction only allows the Bep20 format to participate in the BEP20 format, considering that some BEP20 SUTER participates in TTV mining and Pancake’s LP mining activity, we can optimistic assumptions. This round of auction is expected to be 12-15 billion pieces. Participation, the average locking on average 3 months (3 grades, 1/3/June), and at the current price of 0.008U, then the total value of the total pledge value is $ 12 million, which means that 3 tokens of the $ 12 million tokens pledge 3 pledges 3 pledges 3 pledge Month can get a pledge reward of 3.8 million US dollars, and the annualized yield APR can reach 125%. In addition, the pledge reward will be redeem $ 2 million at the beginning of the period, and at the end of the period, 1.8 million US dollars.
If there are 1.5 billion circulating SUTER pledged, it means that the remaining 2.3 billion are still circulating (mainly ERC20 token). However, the 2.3 billion middle teams, foundations and institutional investors should occupy most of them, and they should also be locked. In addition, the early TTV mining from nearly 380 million Suter will not be released until July 30, and the new circulation will not be very large. It is expected that the subsequent pressure will be greatly reduced in the next 2 months. Essence
2. Comparison of SUTER and AZTEC/TORNADO privacy technology
All this content comes from Dr. Lin Huang, the project CTO, and shared the records here.
Comparison with the technical characteristics of Aztec: below:
Aztec’s current solution is still based on ZK-SNARK, which requires Trusted Setup, but Suterusu’s core technology ZK-Consnark does not need to be trusted initialization, so security is undoubtedly higher.
The current AZTEC solution only supports Confidential Transfer, which cannot ensure the anonymity and incompetent of trading users. The SUTERUSU’s solution not only guarantees the confidentiality of the payment amount, but also has anonymity and irreversible trading user identity.
Aztec’s Gas Fee decreases as the user operation wait time becomes long. This is because the Rollup solution based on the Batch Proof needs to wait for the system to have enough transaction to batch. For example, our Tech VP Jingjing used their Rollup to wait for two days and still didn’t find a lot of transaction to BATCH, so the DEPOSIT Transaction initiated the day before yesterday has not yet succeeded. This idea of the SUTER project has also been considered before, but this idea that requires users to wait a long time to generate Batch Proof obviously will obviously reduce user experience, so this idea is not used for the time being. In fact, our solution can also be adopted in the same way, but we think that in most cases, users still hope to complete the transfer operation as soon as possible, rather than just for a long time to reduce the cost of use. Secondly, there is a very important reason for Aztec’s Gas Fee. Their solution only guarantees the privacy of the transfer amount. Therefore, their zero -knowledge proof proves that the statement needs to prove is simpler, so relatively less GAS Fee consumed. Finally, the solution they use is ZK-SNARK, so the security of their solution is much worse than our ZK-Consnark.
Among them, the risk of Batch Proof is that once the certification that cannot be verified in the Batch Proof, it is difficult to determine which certificate is bad, and it may need to prove a proof to verify the past. Still did not decrease.
In addition, their Rollup requires a Rollup Provider to do the work of Batch Proof. In addition to the risk of centralized being attacked by a single point, such a Rollup Provider architecture is not supported by all public chains, so their protocol is outside Ethereum outside Ethereum. There may be some difficulty in public chain deployment. Suterusu is a second -layer protocol that can be connected with almost all smart contract platforms. Therefore, we have great advantages on the Commission and Interoperability of the protocol. So this is why we can deploy in many chains such as Ethereum, Binance Smart Chain, Smartbch, TheTA, etc. in many now. Aztec has just been launched, and there are no users at present, but Suterusu has 4600+ users, and the transaction value has exceeded $ 250 million.
Comparison with the technical characteristics of tornado.cash: below: below:
Tornado.cash is completely focused on the Ethereum ecology, so it obtains the support of some of the early users of the Ethereum community. The TVL and the transaction value have a certain first -mover advantage. It does not support the protection of transaction amounts. Relatively speaking, Suter Shield can both provide anonymous protection of transaction accounts, but also provides transaction amount protection, and more functionality of privacy protection;
Sutershield can also provide privacy transfer functions, that is, under the premise of protecting the transaction account and the transaction amount, a transfer of any transfer between different accounts is less than the account balance. In contrast, Tornado.Cash can only allow users For example, 1.10.100, then if you want to do a 589 transfer, you only need to complete it once in the SUTER network. In TORNADO.CASH, you need 9 times 1, a total of 22 operations, how trouble is this, and each operation consumes GAS Fee, you do so many operations on Ethereum, you think about how much Gas Fee consumes, so in terms of usability The plan is a huge leap. The reason why Tornado.cash did so is that their solution does not provide the protection of the amount of conversion. They can only provide a certain degree of confidentiality through this very stupid method.
The reason for the amount of user transfer in reality is that the amount of integers listed above is rarely the above -mentioned integer. Value, and SUTER only needs to be done once, users are lower than Tornado.cash even if they need to do two operations of SUTER. In this way, even if TORNADO.CASH consumes a single GAS Fee slightly lower, the average GAS Fee of the SUTER is still much lower than the GAS Fee of Tornado.cash. In addition, TORNADO.CASH’s single GAS FEE is slightly lower because they are large because the solution they use is ZK-SNARK, and their security is far less than our ZK-Consnark. And our solution has a leap in terms of the occupied space and proof of the processing and verification efficiency compared to the similarization of the same type. We are also working with the German engineering school KIT and the Code Scholar of the French Academy of Sciences to continue to improve the efficiency of the password scheme itself, thereby continuing to reduce the GAS Fee. In addition, we are considering reducing GAS Fee through the cooperation of MATIC in the Ethereum ecosystem, such as MATIC.
The other point is that in Tornado.cash, if you want to transfer money to your friends, you can generate Notes after you save it, because this notes can take your money away if you just get it, so you can transfer this money for your friends to use encryption Methods to this Notes, and you only need to know your friend’s Suter account when using Suter Shield. The SUTER account is actually the user’s public key. Your friend can make the public key on which website. Just copy it, you don’t even need to interact in advance between you and your friends. Because ordinary users are not necessarily familiar with how to encrypt up a message, this is also a great improvement in availability.
Tornado.cash’s technical architecture determines that his service target can only be Ethereum, and Suter Shield is a kind of open architecture that can open up the ecology of various chains such as Ethereum, BTC, and BSC. The deployment work has been unfolding, and it will be deployed on Avalanche, Polkadot and other deployment, which will provide privacy protection functions for many DEFI and other scenarios. This will definitely make the public chain deploying our agreement more advantageous when ecological construction.
Third, some thinking
Regarding XSUTER’s new auction economy model, I actually don’t think it is good enough. If the XSUTER secondary transaction price is less than the cash value (100U), is it right for this Trade-OFF (slightly diluted SUTER value and absorbing more SUTER pledge) Is it right? After the first edition of the XSUTER auction economy model, I think that the team has not had enough communication with the community in this regard. I hope that after the team structure is improved, there will be more community voices and team communication.
Regarding the discussion of privacy technology, in fact, in the previous articles, SUTERUSU has been compared with many Layer2 track rivals. As far as I know, the current SUTERUSU SUTER Shield products are currently in V1 version, and the V2 version is being constructed. V2 version will make some improvements in reducing GAS consumption and improving privacy performance. In addition, the recent SUTERUSU’s layout on many public chains has also accelerated. At present, it has successfully deployed public chains such as ETH/BSC/Smart BCH. Suterusu is indeed one of the few progress in the privacy protection track and the product landing project. It is expected that Suterusu can integrate more DEFI in addition to creating the advantage of the moat.