Hello Incognito users
Here are some new updates on the progress of Incognito’s interoperability with unified privacy tokens.
In the previous post, we shared the main idea of Unified pTokens feature, as well as the benefits that it brings to the community.
Now, let’s go through the new UI/UX design for the initiative.
First, converting privacy tokens to unified pTokens.
After the feature is released, users can convert their existing privacy tokens to unified privacy tokens, then takes action on them more conveniently and with more benefits.
To convert tokens in the app, select
Settings in More tab, and then tap
The app will check balances and group existing tokens by currency. Users can choose one or multiple coins to convert.
The conversion process will be shown on app screen, and it may take a few minutes to complete, so please don’t navigate away until the process finishes.
Users can press the
Go back to walletbutton to check balances when the process completes.
When the conversion finishes, users will receive back unified ptoken with a new balance equals to the sum of the grouped privacy tokens’ balances. Users can both transfer privately and swap anonymously with the unified pToken (of course with all balances).
The account has 5 pETH (Ethereum), 3 pETH (BSC), 2 pETH (Polygon).
After converting, the account now has 5 + 3 + 2 = 10 pETH (unified pToken).
In the first release, the protocol will only support unifying popular tokens (e.g ETH, DAI, USDT, USDC, MATIC, …). The list of supported tokens will be published when the feature is officialy launched and updated usually in the future.
Second, shielding with unified pTokens.
One of the biggest advantages that users can benefit from this new feature is that it enables users to shield unified pTokens to Incognito from any networks that the protocol supports.
Let’s make a quick comparison:
Current approach: if users shield the same currency from different networks, they will receive different privacy tokens correspondingly in their wallet.
New approach: if users shield the same currency from different networks, they will receive the same unified pToken in their wallet.
Select a coin to shield.
The app will show a list of networks that support the selected coin. Users can pick one as expected and send funds from the picked network to Incognito.
There are two ways for sending funds to Incognito: generating shielding address or connecting to users’ Ethereum wallet. If users choose
Generate a shielding address, all needed information like the shielding address, minimum shielding amount, and estimated shielding fee will be shown on the screen (refer to the screenshots above).
Also on this screen, users can switch to other networks by tapping on the icon in the
Network typefield and choose another one.
If user shields 1 ETH on Ethereum, he receives 1 pETH (unified pToken) on Incognito.
If user shields 1 ETH on Polygon, he also receives 1 pETH (unified pToken) on Incognito.
As a result, now that he has 2 pETH (unified pToken) in his wallet and can send, receive, trade, provide, etc. privately in Incognito network.
Third, unshielding with unified pTokens.
Conversely, users can unshield unified pTokens to get their public tokens back. Different from the current approach, thanks to the unified pTokens feature, users now can choose any networks (which are supported by the protocol) to receive tokens withdrawn from Incognito.
Select a coin to unshield.
Enter the amount, the external address (aka receiving address), and the network that users want to receive their assets back.
The app will estimate the unshielding fees in unified pToken. If the actually charged fee is less than the estimated fee, the redundant fee will be summed up to the receiving amount. Therefore, the receiving amount may be a little more than the unshielding amount.
That’s all about UI-UX for unified pTokens!
We are looking forward to having your instructive thoughts and feedback. Let’s share with us via comment below. Thank you.