FAQ

What is Unyfy, and how can it benefit my startup?

Unyfy is a protocol for building seamless financial ecosystems within chats. Via Unyfy, startups can embed an AMM or order book directly into their community chats; liquidity is community-owned and safeguarded from revenue loss.

How Unyfy integrate with our existing chat platforms?

Projects can create, customize and configure telegram and discord bot on Unyfy platform. Projects can customize how their users interact and get notified with the project.

What financial customizations does Unyfy enable in my community chat?

At the beginning, Unyfy supports orderbook and AMM. Projects can set floor and ceiling for market making. Community can also provide liquidity to orderbook as well. The book will be transparent for both projects and users.

How does Unyfy ensure the privacy and security of our community's financial transactions?

Unyfy guarantees the privacy and security of your community's financial transactions through a fortified dual-node system. The challenging node rigorously verifies and confirms each transaction, ensuring the accuracy and safety of users' funds. In tandem, the monitoring node oversees the challenging node's activity, conducting a secondary verification of transaction data and ensuring the challenging node operates correctly.

Can Unyfy or Elliptic steal user funds?

No, users hold custody over their funds and have sole control over their orders.

Can users orders be consumed at a price outside of their stated bounds?

No, the integrity of filling orders is upheld via ZKPs.

Can the dark pool be used to launder money?

No, we’ve removed all components of anonymity from our protocol. All edges of the transaction graph are public. We do not run relayers. All observers will know who traded with who, along with the value transferred in each exchange. Furthermore, we do not allow users to deposit from one account and withdraw to another. We also take the additional precaution of deposit screening with long (6hr+) time delays.

Can a bot feign an order to see the whole order book?

No, they need to commit to the order to learn anything & Elliptic will only return the best crosses up to the order volume. If the attacker posts a small order with a wide range, only the single best price will be revealed. If the attacker posts a large order with a wide range, anyone can fill it. We can protect against commit-cancel patterns for this second case by enforcing a block delay- eg traders can only cancel orders after 10 blocks have passed.

Can attackers halt the protocol?

Yes, temporarily. Since Elliptic’s service for proof completion has hardware dependencies, attackers can mount physical attacks to take it down temporarily. The data availability solutions in place, however, let us reboot the service quickly. This dependency only applies to the matching process. At no point will any attackers be able to pause placing and cancelling orders. Funds can never be locked.

Can these hardware dependencies be exploited to harm users?

Yes. In the event of a catastrophic exploit, malicious parties could gain visibility into the orderbook. We have taken steps to mitigate this serious risk, including careful selection of secure enclaves, minimized hardware roles in the cryptosystem, and streamlined processes for switching providers. Note: this all only applies to the order book’s shielding property. At no point will attackers be able to steal funds or falsify order routing.