Stealth Wallet V1.0

We want to jump a little further into some of the upcoming things. Some of the things we’ll be covering will be part of the upcoming v2.0 update, and some of the things we are covering will be released super shortly.

Let’s not waste time and jump right in 🔥

Stealth Wallet (v1.0)

The first step — We’ve always had a functionality first approach when it comes to developing software over fancy user interfaces and that’s exactly what this version is about. The v1 release allows us to deploy and test our infrastructure that we have built over the course of this spring, the infrastructure is the foundation for v2.0 and it is critical that these components work as expected prior to us releasing v2.0 later this summer.

Most of the things developed in v1.0 are things happening behind the hood, the user interface that is available with this version does not represent the v2.0 version.

We will have v1.0 in production and deployed by June 10th.

So what’s been worked on?

- Account abstraction infrastructure.
- Paymaster system to enable gas-less and private smart wallets.
- Transaction Bundler infrastructure to make interactions with the stealth wallet seamless, without Metamask requirements.
- Using private wrapped tokens to enable private transactions between stealth wallets.
- UI/UX design for v2.0, a polished clean user interface with optimized user experience.
- Liquidity aggregation engine for v2.0 (estimated completion June 20th).

ERC-4337

When we started researching this concept, we had to make a decision to either make it from scratch ourselves or find something developed enough. We researched both options since the initial idea involved one-time wallets, but as Sapphire does not support the SELFDESTRUCT op code, we decided on implementing ERC-4337 Account Abstraction (AA) because it provides a much simpler mental model for people to use.

We wanted to get the latest version (v0.7) to save gas and use the latest developments in AA, but with further research and internal tests showed that it does not really fit a secure-oriented network like Sapphire:

- Sapphire doesn’t support contract overriding for the call because it requires the Secure Enclave to work with a private state.
- There are many possibilities to leak private info using standard ABI and methods.

Mitigating these risks and technical limitations forced us to deviate from the latest ERC-4337 and fall back to v0.6 which is widely used by all modern AA providers. Yet these alterations provide privacy and are effective enough.

The Finale — Stealth Wallet (v2.0)

This is what we’ve all been waiting for, a polished product that works well and has optimized UI/UX to manage your stealth wallets that you can transact between, store or swap funds cross chain through. This version relies on liquidity aggregation and for the main launch phase we are currently expecting at least 3 different high liquidity source providers so that will open up swapping to a broader set of assets with minimal slippage & price impact as we no longer rely on own liquidity.

What makes v2.0 so great?

- Enhanced privacy with seamless UX.
- We use account abstraction, so we can offer a CEX-like, smooth experience for cross-chain privacy.
- Totally gas-less. All the fees are paid automatically in tokens you are transacting privately.
- We have access to deep cross-chain liquidity pools as we rely on liquidity aggregation.
- We support cross chain privacy for EVM to non-EVM assets, including BTC. We believe v2.0 is the endgame and long-term non-custodial privacy solution, combining the ideal middle-ground between compliance and privacy.
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Improved AML / additional layer of security to flag potentially malicious wallets.

What are the timelines?

As we earlier mentioned, we are hoping to have it ready this summer and are pushing for it during July already, but latest August. To achieve this goal, we have expanded the team with 3 new developers and are pushing hard every day to deliver the product as soon as we can.

As of now, we are on track with v2.0, but things do change quickly in software as you might hit some technical snags that were unexpected, or something takes a little bit longer than anticipated.

For v2.0, we will also support native Bitcoin as this was a massive feature we developed during this spring also, but due to the changes with the product, we did not push this feature live yet. We’ve built this in a way where we can quickly expand to other networks such as TRON, SOL etc without major developments as with all of the infrastructure developed for v1.0.

What does the product website look like visually (v2.0)?

More screenshots of the V2.0 dApp:

https://twitter.com/illuminexswap/status/1792949492674601038

https://twitter.com/illuminexswap/status/1793908843518509134

Note: There are many other pages that we have not included here to keep the article short, more sneak peeks later on the other pages (swapping, status pages, etc.)

Closing notes

As we get closer to v2.0, we will open private beta testing to gather some feedback from early users to see if there is anything we have missed or that we could do better prior to releasing the update. More information to follow later.

That’s all we’re sharing for today! We hope you’re excited about the upcoming changes that range from now to the next 1–2 months. As always, thank you for taking the time to read through these medium updates, and we wish you a wonderful day.

- The illuminex Team

Relevant Links

Website — https://illuminex.xyz
Twitter — https://twitter.com/illuminexswap
Telegram Community — https://t.me/illuminexOfficial
Telegram Announcements — https://t.me/illuminexAnnouncements

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