Private Tokens

The fundamental feature that safeguards user privacy is the provision of private wrapped tokens, each of which is fully backed at a 1:1 ratio with its original backing asset. Users have the flexibility to convert their assets on a source chain into private wrapped tokens into illumineX Private Account and reverse the process as needed.

How does it work?

Due to illumineX using OPL as its non-custodial privacy layer, it is important to avoid any private data leaks on the application level and remain flexible at the same time to be able to implement such features as private multisig, etc later.

Private wrapped tokens are similar to ERC20 tokens but abstracted from the end user by private accounts.

The key distinction lies in their adherence to privacy-preserving protocols, ensuring they do not generate events that compromise privacy, such as Transfer or Approve, as well as having safeguards on the balance(), allowance(), and other levels.

All the balances of private accounts are in privately wrapped tokens, which makes it impossible for a third party to view or track them.