What is the current status of Renegade?
The project is under active development. As of Feburuary 2023, we have implemented core handshakes, SPDZ, and Bulletproofs primitives, and have begun work on circuit implementations, interface design, and bridging. A public testnet is expected in Q2 2023.
Midpoint prices sound too good to be true. What's the tradeoff?
The core tradeoff in Renegade (and dark pools in general) is quality-of-execution vs. time-to-execution. You are indeed always guaranteed to trade at the midpoint price, so long as there is counter-flow in the opposite direction to take the other side. During high-volatility environments, the market is often skewed and it may take some time to fill your trade. To trade off quality-of-execution for time-to-execution and increase counter-flow, see Indications of Interest.
What are the fees? What governance power is there?
There is an in-protocol fee of 2 basis points (0.02%). Governance power is minimized, and can neither arbitrarily upgrade the contract nor halt withdraws. See the Fees and Governance section for more details.
What blockchain is Renegade built on?
Peer discovery and order matching occurs on our independent p2p gossip network. Consensus and security is inherited from Ethereum via StarkNet.
Does Renegade use Trusted Execution Environments?
No, trusted execution environments (including Intel SGX) have been broken many times. Renegade uses purely cryptographic techniques (MPC and zero-knowledge proofs), and has no hardware trust assumptions.
How fast is the protocol? Are gas fees expensive?
Order placement and cancellation is <1ms if you are running in super-relayer mode (see Super Relayers). We are constantly optimizing both latency and gas fees, but current estimates are ~100-500ms to match an order (fully parallelizable over all outstanding counterparty orders). Gas costs are ~10 USD to create a new wallet, and ~1 USD for each deposit/withdraw or positive order match. Certain flags exist to maximize privacy, in exchange for higher gas fees.
Does Renegade custody assets? Does Renegade need KYC?
No, never. The protocol is open, permissionless, and immutable.
Is Renegade Hiring?
Yes, we are hiring across all roles. For technical contributors, we work in-person in San Francisco, 6 days a week.