HoudiniSwap: private cross-chain swaps routed through Monero
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Explains HoudiniSwap's Conduit System, which routes swaps through non-KYC exchanges using Monero as a tunnel without ever holding user funds, unlike mixers. Argues non-custody aligns it with regulation.
Key claims
Weekly volume above USD 4m and an ATH in weekly swaps
Never holds customer funds, per legal counsel's advice
Picks exchanges by lowest slippage and highest security
0/ in times of doxxing marketplaces like $ARKM & rogue regulators like Gary, #privacy becomes even more important 🥷
a protocol I just came across recently that uses @monero to enable private cross-chain swaps is @HoudiniSwap 🪄✨
#PrivacyMatters
a short 🧵 (0/11) 👇
1/ many crypto transaction #anonymization services function as "mixers", pooling different streams of customer funds to disrupt on-chain links. This process muddles data related to fund origin, destination, and involved parties. #TornadoCash is a well-known example
2/ @HoudiniSwap introduces a unique approach, the Conduit System of swapping, which differentiates @HoudiniSwap from the pack. Unlike mixers, @HoudiniSwap never holds customer funds. @HoudiniSwap's mission is to foster #privacy & security without compromising on user control
3/ the Conduit System routes a transaction through multiple non-KYC exchanges, connecting them via @monero as a tunnel
4/ this non-custodial process ensures @HoudiniSwap neither touches nor has access to user funds, making @HoudiniSwap more of a facilitator than a holder of your assets
5/ @HoudiniSwap serves as an intermediary between various third-party partners. @HoudiniSwap bridges multiple services to ensure your transactions remain private
6/ this characteristic, the non-holding of customer funds, aligns @HoudiniSwap with regulatory requirements as per advice of their legal counsel
7/ by offering a legally compliant solution to a widespread issue, @HoudiniSwap is addressing an already validated demand. This is about marrying #privacy with security & legality - a necessity in today's complex #crypto landscape
8/ fundamentally, @HoudiniSwap's technology operates like an aggregation service. @HoudiniSwap chooses exchanges for the swap based on criteria like lowest slippage and highest security, ensuring optimal user outcomes
9/ however, as mentioned before, @HoudiniSwap is not just about efficiency but also about privacy & security too. @HoudiniSwap's service introduces a novel layer of #privacy in an industry where anonymity can be very important
#PrivacyMatters
10/ but how does @monero keep transactions private you're thinking? 🤔
a core concept is ring signatures ✍️
x.com/expctchaos/status/1607639930762850305
11/ in any case, @HoudiniSwap is definitely gaining traction already with a weekly volume of over USD 4m last week and a new ATH of weekly swaps 📊🔍
x.com/HoudiniSwap/status/1678511159119339520
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