On-chain dark pool Renegade goes live on Arbitrum
Quick Take
- Renegade is a permissionless on-chain dark pool offering users the midpoint of the Binance bid-ask spread in peer-to-peer trading.
- The platform also eliminates MEV, such as front-running and sandwiching, since it uses zero-knowledge tech to settle trades.
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The on-chain dark pool Renegade went live on the Ethereum Layer 2 scaling network Arbitrum.
Dark pools allow private, peer-to-peer trades of financial products, thus enabling institutional investors and large traders to buy or sell significant quantities of digital assets without revealing their orders to the broader market. The decentralized exchange Renegade uses Arbitrum Stylus, a tool broadening coding language support for Ethereum Layer 2 decentralized applications, to enable quick trades costing less than $1 in gas.
Additionally, Renegade is permissionless and offers the midpoint of the Binance bid-ask spread in peer-to-peer trading.
"Renegade is powered by multi-party computation (MPC) for order matching and zero-knowledge (ZK) proofs for trade settlement," the platform wrote on the social media platform X. "By leveraging MPC and ZK, Renegade enables decentralized trading without leaking any information whatsoever."
The lack of leaked information helps traders avoid front-running, back-running, sandwiching attacks and other maximum extractable value (MEV) pain points. Renegade keeps trading details hidden before they are matched, privately fulfilling larger trades while preventing drastic market impact. Third parties also can't track transactions after the fact since only the counterparty has trade details, according to the platform's documentation.
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