What is Renegade? Detailed analysis of project Renegade

• What is Renegade?
• Mechanism of action
• Development team
• Investors
• Tokenomics
• summary

What is Renegade?

Renegade is a decentralized exchange designed on the Orderbook model built on StarkNet . The project that uses the most advanced technology at the moment is ZKP and inherits security from Ethereum, as well as has high scalability thanks to its construction on StarkNet. In addition, the protocol also applies the framework of zk-SNARK to solve some problems of anonymity.  

The protocol uses a Dark Pool – also known as a hidden order book. This means that trading orders on Renegade will be hidden from all users. This is one of the highlights that makes the Renegade project different. 

To be able to interact with Renegade, traders need to create a wallet to store asset balances and trading orders. This wallet can be created through Web3 wallets like MetaMask.

Renegade has a relayer responsible for aggregating and forwarding user commands. Each relayer will be responsible for managing a pool of wallets, collecting and sending commands to find other relays that match the command. If not found, the command will continue to wait until it is processed. 

Renagade wants to use a hidden order book model to provide privacy and fair pricing to users, but transaction execution times are not yet optimal. The reason is that intermediaries take time to synthesize and match orders. On average, each instruction executes in 100 – 500 milliseconds.  

Benefits of using Renegade 

• Pre-Transaction Privacy: No one can view the transaction details before the transaction is executed.
• Post-trade data protection: When an order is placed, only the person placing the trade knows which asset was exchanged. This prevents third parties from tracking and copying users' trading strategies.
• Minimum MEV: Because validators only see the proof without knowing valid transactions, block producers have no way to pre-empt, rollback, or clamp the creator's transactions.

Who can use Renegade

• Market Maker: If one market maker buys multiple assets and another market maker sells the same asset, the two positions can be anonymized.
• OTC Traders: Instead of trading on an OTC exchange, recipients can execute trading orders directly.
• Those who want privacy: Renegade maintains complete anonymity. This means that third parties cannot view transaction details or transaction or payment history.

The protocol fee on Renegade will be charged at 0.02% for executed orders and if the trader does not operate his own set of Relays he will incur an additional 0.08% fee for the Relayers. There is also a $10 fee for creating a new wallet and a $1 fee for each deposit, withdrawal, and transfer.

Mechanism of action

Relayers will synthesize the user's trading orders, in the process, the parts that can match will be matched first, then look to other Relayers to match the rest. If there is still no match, the data will be retained until the order is matched or canceled. 

Development team

Chris Bender: Founder Renegade: Chris graduated from the University of California with a major in mathematics. After finishing school, he worked at Berkeley Artificial Intelligence Research as a Researcher. In 2020, he interned as a Machine Learning Engineer at the world's largest electric vehicle company Tesla. It was not until early 2022 that he founded Renegade.

Joey Kraut – Building Renegade: Joey graduated with a bachelor's degree in computer science from the University of California, Berkeley and spent 6 months working at Launchpad (UC Berkeley) as Head Of Education and President. Until 2021, Joey Kraut started working at Verkada as a Software Engineer, but after more than 1 year he moved to Renegade. 

Investors

On February 20, 2023, the project successfully raised $3.4 million at Seed Round, led by DragonFly Capital, Naval Ravikant. Besides, there are also the participation of Balaji Srinivasan, Lily Liu, Tarun Chitra, Marc Bhargava, Lev Livnev.

Tokenomics

Currently, the information about Tokenomics of the Renegade project has not been disclosed. TraderH4 team will update details after an official announcement from the project.

summary 

Above is some basic information of the Renegade project. Renegade developers are directing the development project in a very potential niche. It's user privacy on a decentralized exchange, and this is likely to become the biggest issue in the future. 

Although the features developed by the project are very suitable for large investors, funds and market makers. However, the project is facing liquidity problems because of the Orderbook model. 

If you are interested in the project, you can follow the following social networking sites:  

Website | Twitter | Discord

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