FAQ
Q: How does Hinkal work? What kind of transactions can I perform?
A: Hinkal is a self-service dApp and SDK that allows liquid funds, institutions, whales and consumers to run their strategies privately on their favorite dApps.
Hinkal accepts ETH/ERC-20 tokens as deposits, which can be later privately swapped, staked, yield-farmed, transferred, or withdrawn with no reference to the original deposit address. Each user holds a shielded address where tokens are stored after depositing.
In short, the process is as follows. Users:
1. Pass KYC before being able to use the Protocol2. Deposit assets in a shielded address3. Run their trading strategies (swap, stake / yield farm, provide liquidity) privately - all in one place4. Withdraw to an old or new wallet
We have also received several asks for Order book DEX integrations that we are planning to add next. Feel free to DM the team if you need a private trading experience on your favorite dApp.
Q: Who is Hinkal for?
A: Hinkal provides privacy for everyone. Liquid Funds and Institutional Investors can trade, stake, provide liquidity and lend/borrow without any public traceability of transactions or assets. Whales and Individual Investors can execute private swaps, staking, yield farming and transfers with Hinkal’s easy-to-use consumer dApp.
Q: What differentiates Hinkal from other privacy protocols?
A: While there are already privacy protocols aiming to tackle major privacy issues in the blockchain space, Hinkal has a competitive advantage over:
Lowest fees: Hinkal charges only 3bps for private transactions making it the lowest rates privacy solution available on the market. With stealth addresses, Hinkal is able to return any difference between the expected slippage the user covered prior to the transaction and the actual costs when the transaction is completed on-chain.
Institutional grade security: to ensure no illicit parties can access the protocol, Hinkal is secured with a privacy-preserving KYC layer. Our security focus includes Hexagate for real-time threat detection and mitigation, Quantstamp and Secure3 audits, and Immunefi's bug bounty-driven security experts.
Unlimited private transfers, swaps, and staking/yield farming: with Hinkal, users keep doing what they are best at - generating alpha on their favorite protocols, within a single easy-to-use interface.
Frictionless experience: no need for additional wallets, tokens, or waiting time after the deposit of assets.
Q: Why do I need to pass KYC? How does the process look like?
A: Hinkal is designed to prevent illicit parties from using the protocol. In order to achieve this, users (individuals and organizations) need to obtain an "Access Token” after passing the KYC verification.Hinkal’s KYC verification flow is very easy and straightforward.
Hinkal checks if the user has a Binance Account Bound Token (BABt), Galxe Passport, or soulbound tokens from Quadrata/0xKYC in the connected wallet. We will soon add new integrations with KYC protocols to ensure users have a wider choice.
If one of the above tokens is detected, the user doesn’t need to pass KYC again, so they can directly mint the ‘Access Token’.
If the user doesn’t have one of the above tokens, they need to pick their preferred KYC provider among the supported options (currently zkMe, Binance, Quadrata, Galxe, 0xKYC) and get verified. The KYC verification process takes < 1 minute and when it is complete, the user can mint their ‘Access Token’.
KYC information is stored fragmentally, with no link between wallet and PII - users’ privacy is preserved.
Q: Is Hinkal on Mainnet?
A: Hinkal is currently live on Ethereum, Polygon, BNB Chain, Arbitrum, Optimism and Avalanche. More EVM chains are going to be added in the future.
Q: Which wallets does Hinkal support?
A: Users can currently connect with their Metamask, Coinbase Wallet and Wallet Connect.
Q: Which tokens are available to anonymize?
A: Hinkal supports all the major coins on the supported chains, including tokens from Curve, Beefy and Convex pools.
Q: Does Hinkal run any community campaigns?
A: We currently run campaigns on Galxe. Users that achieve the highest positions in our Leaderboards share rewards. You can find out more by visiting Hinkal’s Galxe Space and Discord Server.
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