ChainPort + Iron Fish

Access to a privacy layer via Iron Fish is coming to all assets on 20 chains supported by ChainPort, including Ethereum, Polygon, Optimism, Base, Arbitrum, Cardano, and others 🙌

The Iron Fish Foundation has approved a grant for ChainPort to integrate Iron Fish into their ecosystem. Development work has already begun with a soft target date for testnet integration in the next few months and mainnet launch later this year.

Iron Fish is built to be a safe privacy platform for crypto — your homebase to store all your assets — and has been mainnet launched since April 20th, 2023. Iron Fish aims to give all crypto assets access to a full privacy layer allowing users to trade, swap, and store their crypto assets privately.

What does this mean for users? 

For users, this integration means that all ChainPort-supported assets could be bridged to Iron Fish leading to private wrapped USDC, private wBTC and so on. This would unlock new use cases for crypto such as payroll and private payments for businesses and individuals where financial privacy is required.

When can I start using it? 

The development for the ChainPort integration with Iron Fish has started, targeting a testnet release within the next few months, followed by a mainnet launch in the second half of the year.

Why ChainPort? 

ChainPort supports assets from 20 other chains, is one of the top bridges on L2Beat, and their attention to security, accountability, and safety is one of the highest we’ve seen in the industry.

How do we protect Iron Fish from bad actors? 

The ChainPort bridge integration includes a dedicated milestone in the grant agreement for screening against malicious actors attempting to bridge funds to Iron Fish using a Real Time Threat Detection model. Funds attempting to bridge to Iron Fish from a transparent chain using a malicious address will be unable to do so, and those funds will be frozen. In the future, mechanisms can be put in place to investigate and rectify frozen funds by a specified DAO.

Each transaction using the ChainPort bridge to Iron Fish from any other of its 20 chains will be screened against malicious actors. Malicious actors are defined as:

• sanctioned addresses listed on OFAC
• addresses that have interacted with addresses listed on OFAC
• addresses involved in previous DeFi related hacks
• addresses suspected of being in the process of performing DeFi related hacks
• addresses that have received funds from malicious wallets
• addresses with occurrence of private key leakage (currently or previously)

The Iron Fish Foundation is dedicated to deterring bad actors from using Iron Fish and is fully committed to revisit the grant for the maintenance cost of any such or additional screening services.

How to stay up to date? 

Best way is to follow us on Twitter, Telegram, Warpcast for large announcements, and Discord for frequent updates.

How can I participate in any upcoming Iron Fish programs? 

The Iron Fish Foundation as well as IF Labs believes strongly in shipping fast, getting users involved early, setting up testnets with incentive programs, and shipping quality features.

For any upcoming programs related to this integration, stay tuned in our Discord as well as other announcement channels.

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