Vision for Void
DISCLAIMER: A lot of the information included in this article is speculative and is in no way a plan or promise for the future development of Void Protocol.
As the creators of Void Protocol, an application designed provide financial anonymity and freedom, the team have certain aspirations and hopes for the future direction of Void. While the current team will surely be active in the management and operation of the platform for years to come, within a year after Void launches, it will be a fully Decentralized Autonomous Organization (DAO). So, while we have hopes and dreams for what we would like to see Void become, we will only have a certain voting power to make that happen.
DAO
Firstly, and perhaps most importantly, we want Void to have a strong, knowledgeable community who are invested in the success of the platform. This doesn’t just mean to do the most to make ‘number go up’, but for the base structure of the platform to be solid, secure and user-friendly. Void is not a protocol made for short-term gains. We are here to provide an important and necessary service, and as long as our application is easy to use, secure and accessible, value will be intrinsic.
We hope that these valued community members will make up enough of the DAO that Void will always have a responsible base of voters that will always make decisions in the best interests of the platform and Void’s core values.
Core Values
That brings us to the next point, Void’s core values. These are: Privacy, Decentralization, Opportunity Cost and Interoperability. We will always do our best to ensure these values are respected and hope that the DAO will always make decisions with these values in mind.
For Void, privacy is paramount. Without privacy, there is no Void. It goes without saying that we want Void to always be secure and provide a lasting solution to the transparency that is public blockchain.
In the realm of online finance and the attempt to make our blockchain transactions private, decentralization is just as important as privacy. For, without decentralization, the system cannot be 100% secure. Our implementation of Zero-Knowledge proofs within Void were a major hurdle that we have overcome. Without ZK, a privacy application must store user and transaction data, creating a centralized weak point which can be exploited. Therefore, we envisage that Void will always operate in a transparent and decentralized manner.
While privacy and decentralization are the top priorities for Void, reducing opportunity cost is an important incentive for Void to gain and reward its users. There are already several privacy options available in the Cosmos ecosystem and in crypto in general, so, to remain enticing to users, the Void DAO must always search for the most attractive yet secure and risk adverse yield opportunities available. We will launch with yield-earning strategies in place for the tokens we are launching with ($OSMO, $ATOM, $USDC), but strategies will need to be decided for any new tokens the DAO decides to support in the future, as well as potentially changing strategies in place to less risky or higher yield options.
Finally, in regards to our core values, interoperability plays a big factor in the future of Void. With our move to Osmosis, we have already made a huge step forward in this sense. From here, we will have the ability to service all IBC-enabled currencies in the Cosmos ecosystem. We aspire to have Void Anonymity Pools (VAPs) for all major Cosmos currencies and yield options for each of those pools. And ideally, the TVL and transaction volume of all of our pools will get to the point where they are high enough that privacy can be achieved in very short periods of time, so opportunity cost is reduced even more.
Wacky Conceptions
This is where we get into the much more speculative section. These are ideas that we would love to see happen with Void and DeFi in general, but we do not even know if they will ever be possible. These ideas rely heavily on tremendous success for Void and more mainstream crypto adoption worldwide, both of which rely on the public to learn about and understand the implications of a world without financial privacy and/or decentralization. The following ideas are things that we think would be really cool, but have no intention of actively pursuing in the near future. Now, enough with the disclaimers.
Possibly the most achievable (if at all) idea is to gain immediate access to anonymized funds via the future yield of your VAP deposit. This function would give users the option, when depositing their funds into a VAP, to lock those funds for a certain period of time and gain immediate access to the yield that their funds would earn over that time. Numbers just for example’s sake — say you deposited $10,000 USDC into the VAP and locked it for 1 year. If the APR of that pool was 10%, you would immediately receive $1,000 of already anonymized USDC into a brand new, untraceable wallet.
A somewhat more ‘enthusiastic’ idea we’ve had is the Void Card. This would require mass-adoption of cryptocurrency and for it to be standard to accept crypto as payment for regular goods and services. The Void Card would be a system where users could store funds in the VAPs and, when they make a transaction, Void would create a brand-new, untraceable wallet, transfer the exact funds for the transaction into the wallet, which would then be sent to the card, the payment would be made, then the wallet burned. However, this would only be for extreme use-cases where privacy is vital in certain situations and would come with many cons, including not being able to track your personal transaction history.
Conclusion
We hope that, one day, Void can be the №1 opt-in privacy solution in the Cosmos ecosystem. We want to make privacy accessible and secure with minimal loss of opportunity. We’ve had a lot of time to think about the direction of Void, and obviously we’ve come up with some pretty “optimistic” ideas in that time, but we really just want Void to be run responsibly and successfully by a committed and engaged Void DAO. If you’ve made it to this point of the article, maybe you’ll be a part of that and we hope to see you there.
-Gretskies
Void Protocol Links
🌑 Website: voidprotocol.io
🌑 Litepaper: protocolvoid.gitbook.io/void-protocol/
🌑 Twitter: twitter.com/ProtocolVoid
🌑 Discord: discord.gg/kB2cvnWgs6
🌑 Medium: voidprotocol.medium.com/
🌑 Telegram: t.me/Void_General