Why is there a need for PolyWhirl
DeFi users are vulnerable to surveillance due to the immutable and transparent nature of public blockchains such as polygon. In public blockchains there is no privacy for on-chain transactions. Institutions and Retailers are at risk by having their transaction history monitored, methods reverse engineered, hence losing their competitive advantages and privacy.
PolyWhirl aims to solve your privacy.
PolyWhirl is a completely decentralised
platform for making private transactions on Polygon.
Polywhirl will help you preserve your privacy, incase your identity and addresses are linked and exposed.
You can transfer all your funds to a new address without exposing your link to previous addresses.
How does PolyWhirl work?
PolyWhirl's Token $WHIRL
At PolyWhirl our goal is to build a completely decentralised private transaction ecosystem that users can rely on, forever. To set us up on a path to full-decentralisation and autonomy, we introduce the $WHIRL token. This enables the protocol to implement a novel mechanism for stakers of $WHIRL to earn rewards through pool fees, a fee burn mechanism and governance.
Pool Fee Rewards
Users of the pool are charged in native pool token, of which 80% is distributed among the $WHIRL stakers. In this manner, all long-term holders of $WHIRL are rewarded as the protocol's usage and its revenue grows.
20% of the protocol revenue is used to buy back $WHIRL tokens from the market and is burned. This makes $WHIRL a deflationary token. We will aim to execute the burn monthly.
$WHIRL will soon be used to govern the project using a DAO, with the tokens acting as the voting rights. The voting rights will be proportionate to the number of tokens an user holds.