Manta: Privacy Preserving Decentralized Exchange
Cryptocurrencies and decentralized ledger technology have been widely adopted over the last decades. However, there is not yet a decentralized exchange that protects users’ privacy from end to end. In this paper, we construct the first ledger-based decentralized token exchange with strong privacy guarantees. We propose the first Decentralized Anonymous eXchange scheme (DAX scheme) based on automated market maker (AMM) and zkSNARK and present a formal definition of its security and privacy properties.