Confidential finance,held to a private-banking standard.
The first confidential financial platform on the XELIS BlockDAG. Deposit XEL, borrow xUSD, trade on VaultSwap, tokenize real-world assets, and govern privately, secured by native Twisted ElGamal encryption. Every balance encrypted. Every audit public. Every decision on-chain.
Every DeFi platform
operates on a
fully transparent ledger.
Your positions, your strategies, your holdings, all visible to everyone. Bots front-run you. Competitors copy you. Regulators surveil you. Privacy in finance isn't a feature anymore. It's survival.
Built on XELIS native homomorphic encryption, your financial life stays encrypted by default.
Six pillars of a truly private financial stack
Not privacy bolted on top. Privacy at the protocol level: every contract, every balance, every interaction is encrypted from day one. Built native on the XELIS BlockDAG.
Confidential Lending
VaultEngineV3Deposit XEL as collateral and borrow xUSD without revealing your position, your LTV, or your strategy to anyone. Encrypted vaults powered by Twisted ElGamal.
Private Stablecoin
xUSDxUSD is a USD-pegged stablecoin with encrypted transfers by default. Mint via PSM at $1 oracle price, redeem on demand, hold privately.
MEV-Resistant AMM
VaultSwapV2VaultSwap is a custom automated market maker with built-in peg stability module and front-running protection. Your trades settle fairly on every block.
Real-World Assets
AssetVaultTokenize and trade real-world assets with confidential balances. Multi-signature treasury vaults for DAOs, foundations, and institutions.
Peer-to-Peer Credit
LendingMarketBilateral P2P loans with custom terms, syndicated credit pools, and a multi-pool multi-collateral lending marketplace. All confidential by design.
On-Chain Governance
GovernorVLT holders control every protocol parameter: fees, oracles, risk limits, upgrades. With 48h timelock and a Guardian multisig for emergency pause.
A layered stack,
encrypted end-to-end.
One audited mixer live today — PrivacyMixer V4, mainnet-ready. The 51 contracts of the original suite are preserved under the v13 reorganization and consolidating behind it; the map below traces the full legacy stack, where every byte of state is encrypted at the XELIS BlockDAG level long before it ever reaches a contract.
Select any layer to inspect its contracts. Every layer is built on the encrypted primitives below; nothing is added as an afterthought.
A complete confidential ecosystem
on a single BlockDAG.
VaultChat
End-to-end encrypted messaging with Diffie-Hellman key exchange, off-chain relayers, and hourly on-chain Merkle anchoring. One transaction per hour, zero gas per message.
PrivacyMixer
Bearer notes · XELDeposit XEL as a bearer note bound to your recipient address. The contract stores only a Merkle commitment and always pays the address embedded in the note: no sender, no amounts, no redirectable secrets.
ComplianceModule
ZK · MiCA · MiFIDZK-based KYC/AML verification. Prove regulatory eligibility without revealing your identity to the counterparty or the network.
Flash Loans
Atomic · 0 collateralUncollateralized atomic borrows with reentrancy guard. Arbitrage, liquidations, refinancing, all settled within a single block.
Sealed-Bid Auctions
Commit → revealConfidential commit-reveal liquidations. No front-running, no sniping, no bid stalking. Just fair price discovery.
XELIS
Vault
Confidential Finance for the Privacy Era
xUSD
xUSD is the confidential stablecoin of XELIS Vault. Every transfer is encrypted: recipients, amounts, and balances stay private by default. The peg is enforced by two complementary mechanisms, a Peg Stability Module for instant mint and redeem at $1 oracle price, and overcollateralized vaults that back every xUSD with XEL collateral at a minimum 200% collateral ratio.
VLT, fixed supply,
engineered to shrink.
10 million VLT minted at launch. No more will ever exist. Three independent burn mechanisms grind the supply down, projected to divide by 3 within a decade. Holders govern every parameter, earn oracle rewards, and capture protocol upside as the supply tightens.
FeeDistributor (v10.3)
01Every protocol fee (swap, PSM, borrow, redemption) is split by FeeDistributor.slx: 50% burned permanently, 40% to treasury, 10% to founder (ongoing 10y vesting). No extra cost to users; only the split changes.
Reputation-Based Slashing
02When a price provider submits an outlier, their reputation drops (5 tiers: 0× to 1.5×). Bad behavior reduces the reward multiplier, and 50% of every slash is burned at the contract level. Bad behavior is deflationary.
Governance Burn
03VLT holders can vote to burn treasury VLT to accelerate deflation. Quorum of 10% required (with 365-day lock boost up to 2× voting power): a community-controlled supply sink.
StakedOracle
permissionless by design.
No permissioned node operators. No backdoor admin keys. Anyone with 1,000 VLT can become a price provider, and economic slashing keeps them honest. The median of all valid submissions becomes the on-chain truth, every 25 seconds.
Stake & Register
Anyone stakes 1,000 VLT and registers as a provider via XelisVaultMiner. Reputation starts at 3,000 (Warning tier) and climbs to 10,000 with good behavior; time-proven miners earn +2,000 after 15 days. Five reward tiers: 0× (banned), 0.4× (critical), 0.7× (warning), 1.0× (good), 1.5× (excellent).
Submit Prices
Fetch prices from MEXC, CoinEx, CoinGecko, or your own source. Submit signed prices every cycle (5 blocks / 25 seconds). Bootstrap mode works with just 3 providers and auto-disables when 10+ are active.
Median Aggregation
Every cycle, the contract sorts all submissions, computes the median, and identifies valid prices within ±5% of that median. Circuit breakers trigger at 5% deviation, 20% callback threshold, or 100-block hard stale.
Rewards & Slashing
Valid providers earn VLT rewards scaled by reputation tier (up to 1.5× multiplier). Outliers lose reputation points and may drop tiers; slashing from stake is burned (50%) and sent to treasury (50%).
Attack the oracle and
you fund its deflation.
A would-be attacker trying to spawn 1,000 bots to manipulate the median would need to stake 100,000 VLT, 1% of total supply. Even then, the reputation system drains those bots until they fall below the 1,000 threshold and get auto-deactivated (dropping to the 0× tier, which earns no rewards). Every attack burns VLT for the rest of the holders.
Stake VLT,
secure the oracle.
The XELIS Vault oracle is secured by staked VLT. Miners stake 1,000 VLT to register and submit prices every 25 seconds. Any VLT holder can delegate to a miner, increasing their oracle weight and earning a share of rewards. Rewards follow a Bitcoin-style halving: about 0.436 VLT per block initially, halving every year; emission lasts indefinitely, not capped at 10 years. New miners start at reputation 3,000 (Warning tier) and must prove themselves over 15 days to reach Good.
How miners work
A four-stage lifecycle: register, submit, earn, slash. All on-chain, all transparent.
Register
Stake 1,000 VLT via XelisVaultMiner.register_miner(). Set endpoint URL, miner pubkey, and services mask. Reputation starts at 3,000 (Warning tier); you must prove yourself over time, not start at max.
Submit prices
Fetch prices from MEXC, CoinEx, CoinGecko, or your own source. Submit signed prices every 25 seconds (5 blocks). Bootstrap mode works with just 3 miners.
Earn rewards
Bitcoin-style halving: about 0.436 VLT per block, halving every year (6,307,200 blocks). Your share equals block_reward × stake × rep_multiplier / total_stake. New miners get a 30-day bonus (up to +50%).
Get slashed if bad
Outlier prices lose reputation and slash stake (1% to 50%). Half of every slash is burned, 10% goes to the whistleblower, 40% to the treasury. Bad behavior is deflationary.
Five tiers, from 0× to a 1.5× reward multiplier
Reputation is a number between 0 and 10,000 stored per-miner. It determines whether the miner is active (at least 1,000) and how much they earn. Good behavior increases it, bad behavior decreases it.
New miners don't start at the top.
They earn their way up.
To prevent Sybil attacks (spawning many new miners to capture rewards), new miners start at reputation 3,000 (Warning tier, 0.7× multiplier), not at the maximum. They must prove themselves over time through two mechanisms:
+2000 reputation after 15 days
After 15 days of active participation (259,200 blocks), a miner earns a +2000 reputation bonus viaget_time_proven_bonus(). This moves them from 3,000 (Warning) to 5,000 (Good), doubling their reward multiplier from 0.5× to 1.0×.
Up to +50% extra rewards
For the first 30 days, new miners get a bonus on top of their base reward (via get_new_miner_bonus()). The bonus scales inversely with network size; fewer miners means higher bonus, incentivizing early participation.
Anti-Sybil by design. An attacker spawning 100 new miners would only get them at a 0.5× multiplier (Warning tier) for 15 days, and the new-miner bonus disappears once 100+ miners are active. The cost of attacking (100 × 1,000 VLT stake = 100,000 VLT) far exceeds the rewards captured during the bootstrap period.
Don't want to run a miner?
Delegate your VLT instead.
MinerDelegation.slx lets any VLT holder delegate to a registered miner. Your stake increases the miner's oracle weight and earns a share of their rewards. The miner sets a commission (0 to 20%). Index-based accounting means no loops, so gas stays constant even with 500 delegators per miner.
Choose a miner
Browse registered miners on the dashboard. Each miner has a public profile: name, description, commission rate (0 to 20%), total stake, reputation tier, and historical performance.
Delegate VLT
Call MinerDelegation.delegate(miner_addr, amount, auto_compound). Your VLT is locked in the contract and added to the miner's total stake. The miner's oracle weight increases proportionally.
Earn rewards
When the miner submits valid prices, StakedOracle calls distribute_rewards(). Your share is calculated via index-based accounting (no loops, gas-efficient). Auto-compound optionally reinvests your rewards.
Undelegate anytime
Call undelegate(amount) to queue a withdrawal. After the undelegate delay, call execute_undelegate() to receive your VLT plus accumulated rewards. No lock-up beyond the delay period.
Don't penalize rewards.
Penalize oracle manipulation power.
In v11.3, the concentration penalty moved from rewards to oracle weight. A miner holding too much stake (own plus delegated) still earns full rewards, but their influence on the median price is reduced. This prevents a single large miner from manipulating the oracle without punishing them economically.
| Miner % of total stake | Oracle weight | Rewards |
|---|---|---|
| 0 to 8% | 1.0× | Full |
| 10% | 0.88× | Full |
| 14% | 0.65× | Full |
| 18% | 0.42× | Full |
| 20%+ | 0.30× | Full |
Key insight. A miner with 20%+ of total stake still earns full rewards, but their vote on the median price is capped at 0.3× weight. They cannot manipulate the oracle even with significant stake, and they have no reason to complain since their rewards are unaffected.
Bad behavior is expensive.
Five severity levels. Slashing is applied to the miner's stake: 50% is burned permanently, 10% goes to the whistleblower, 40% to the treasury. Reputation drops simultaneously, reducing the future reward multiplier.
| Severity | Slash | Rep Loss | Trigger |
|---|---|---|---|
| Outlier | 1% | −50 | Price deviates more than 5% from median |
| Offline | 2% | −200 | Missed heartbeats |
| Data loss | 5% | −500 | Submitted invalid data |
| Censorship | 10% | −1,000 | Refused to include transactions |
| Malicious | 50% | −5,000 | Proven price manipulation |
Ready to secure the oracle?
Run a miner with the CLI, or delegate your VLT to an existing miner. Both earn rewards via Bitcoin-style halving emission: about 0.436 VLT per block initially, halving every year.
1 audited mixer live.
Core suite in consolidation.
v13 · legacy preserved.
Every contract is open-source (MIT-licensed). PrivacyMixer V4 is the one audited, mainnet-ready contract of the v13 protocol — recipient-bound bearer notes, a depth-20 Merkle tree and a shared XEL pool. The catalog below is the legacy suite: 38 contracts that ran on testnet as a live demo while the core protocol consolidates, plus 13 Phase 5+ drafts gated behind review. None of the legacy set is mainnet-bound until it is rebuilt to the V4 standard.
All contracts are MIT-licensed. PRs welcome.
View full repository on GitHub↗VaultChat
Private by design.
End-to-end encrypted messaging built into XELIS Vault. Nobody can read your messages: not relayers, not miners, not the protocol team. Powered by X25519 Diffie-Hellman key exchange and ChaCha20-Poly1305 encryption, anchored on-chain via Merkle roots.
One seed, one keypair
VaultChat does not create a second wallet. It derives a chat keypair from your existing XELIS wallet private key using HKDF-SHA256. Lose your computer? Restore your wallet seed, and the exact same chat keys are regenerated. No separate backup needed.
Relayers pay gas, so they earn fees
Every time a relayer stores a message on-chain or anchors a Merkle root, it pays network fees in XEL. Without compensation, no one would run a relayer. That is why relayers set their own pricing models and earn revenue from users.
Each relayer can offer a limited number of free daily slots, capping their own gas costs while letting new users try the service.
Relayers set their own price per message. Users pick whichever relayer offers the best rate.
Duration plans or message packs. Buy for yourself or gift to another wallet.
Relayers build an on-chain reputation based on their behavior. Users can verify that messages were actually stored on-chain. A relayer that claims to be free but skips on-chain storage to save gas gets rated poorly, blacklisted by peers, and dies off naturally. Honest relayers earn trust and attract more users; relayers also sync messages with each other for redundancy. The protocol takes 5% of all relayer fees for the treasury.
Payment Requests
Send invoices through chat. The recipient sees the request, clicks Pay, done. On-chain proof for both parties.
Group Giveaways
Create a giveaway in group chat. The first N people to claim get tokens. Anti-abuse: one claim per wallet.
Direct Messages
Bypass relayers entirely. The user pays gas for maximum persistence. Separate 50-slot ring buffer for important messages.
On-chain
- 01Fixed ring buffer: 50 relayed + 50 direct messages per user
- 02Old messages automatically overwritten, zero blockchain bloat
- 03Merkle root anchored every ~80 min (configurable)
Off-chain, at the relayer
- 01Tiered: Hot (SSD, 7 days), Warm (HDD, 90 days), Cold (Archive)
- 02Deduplication: the same message from 3 relayers is stored once
- 03Anti-cheat: users verify storage, bad relayers get blacklisted
Full guide: docs/CHAT_GUIDE.md
VaultLaunch
Nothing launches without you.
A community-validated launchpad and a permanent-liquidity DEX, deployed and verified on the XELIS mainnet since 23.09.2026. Projects propose, holders vote, survivors trade on a bonding curve, and graduation migrates everything into a pool whose seed is locked for life. And since 25.09.2026, the community track: anyone launches a real XELIS asset for ≈ 2 XEL on a bonding curve — no vote, no founder liquidity, the same locked-seed graduation. No pre-mines, no hidden team allocations, no rug geometry: the anti-rug floor is math, not a promise.
Propose
A builder deposits 526 XEL minimum: a 25 XEL submission fee, a 1 XEL asset budget and a 500 XEL seed. Anything above the minimum becomes extra curve liquidity — and a seed of 2,000 XEL or more graduates directly. Rejected proposals are refunded in full.
The community decides
Every proposal faces a vote window of about one hour: one address one vote, voting is FREE on mainnet (the sybil dial sits at 0), 80% approval to pass. The team vesting plan is declared at propose and bound by the contract — the community votes on the exact schedule, not a promise.
Bonding curve
Accepted projects mint a REAL confidential XELIS asset — fixed max supply enforced by the protocol itself, buyers hold their tokens in their own wallets from the first second. Price is reserves over circulating supply, every trade pays 0.50%, and sells are never gated: not by trust, not by pause.
Graduation
At 2× the seed in reserves (1,000 XEL on a minimum seed) anyone can call migrate(): curve reserves and token inventory move atomically into a LaunchDEX pool, a one-time 0.5% fee funds the protocol, and the trading fee drops to 0.25% forever.
LaunchDEX, forever
The migration seed is protocol-locked for life: no admin, no emergency role, nobody can ever withdraw it. Providers who deepen the pool earn 50% of every swap fee, pro-rata, and can exit at any time, both sides, price-neutral.
A curve, live.
Watch a project climb its bonding curve: simulated buys push the price up, reserves swell toward 4× the seed, graduation triggers the atomic migration and the seed locks forever.
Simulation with fictional data · the math is the exact on-chain curve (out = C·net/(R+net), integer-exact in the contract)
VaultLaunch v4.2
The launchpad itself: proposals, the vote window with refundable deposits, real native confidential assets created on-chain (fixed supply, 8 decimals), the bonding curve in true deposits, and the permissionless atomic migration.
LaunchDEX v1.3
The permanent home after graduation. One pool per asset, constant product, a seed that can never be withdrawn and providers who are always free to leave. Every swap fee is split between the protocol and the people who deepen the pool.
Specs frozen. Contracts rehearsed. Mainnet when it is ready.
Both contracts run 109 reference tests and five formal audit gates in CI on every push: requirement traceability, mechanical security, a 40-seed fuzz, SDK parity and documentation parity. Internal audits only: no external review yet, and we say so. The path to mainnet is a testnet rehearsal, an external audit budget, then deployment. No date theater.
Mainnet application under private preview. The testnet app for the other contracts stays live in the meantime.
Launchpad live on mainnet.
The rest follows in 2027.
Core Protocol v11.5
- 0151 contracts written under v11.5 · MIT license, preserved in legacy/
- 0234-contract core ran live on the v12R testnet deployment
- 0313 Phase 5+ contracts written, gated behind review
- 04VaultEngineV3 confidential mode · StakedOracle v10 · VaultSwapV2
- 05Progressive slashing · trimmed median · anti-Sybil stake
v5.0 Audit Remediation
- 0115 vulnerabilities fixed (5 critical, 4 high, 4 medium, 2 low)
- 022-step emergency withdraw on all fund-holding contracts
- 03Two-layer guardian (EOA + 3-of-5 multisig)
- 04Reentrancy guard pattern (RG_STATUS_KEY)
- 054 additional critical fixes in v5.1 pre-launch review
Testnet Deployment
- 01Contracts redeployed with v5.1 patches (4 critical fixes)
- 02XSWD integration rewrite (cross-contract permissions)
- 03CLI tool + miner script released on GitHub
- 04Wallet connection via Genesix + local RPC
Protocol v13 → v18 — Consolidation
- 01PrivacyMixer V5: recipient-bound notes, Merkle depth 20, hardened through three founder risk reviews
- 0251 legacy contracts moved to legacy/, preserved but non-deployable
- 03VaultLaunch v4 + LaunchDEX rebuilt to the deployment standard (v18.3)
- 04CI-asserted SDK (xvault) + full docs: LAUNCHPAD.md, DEX.md, runbooks
VaultLaunch + LaunchDEX — Mainnet
- 01Deployed, configured and verified on-chain on the official XELIS mainnet (block version V7) — 16/16 storage reads confirmed
- 02Community launchpad LIVE: propose (526 XEL minimum), free validation votes (~1 h window, 80% approval), bonding curve
- 03Two-path graduation: 2× the seed on the curve, or direct listing at 2,000 XEL — migration is permissionless and atomic
- 04LaunchDEX: permanent seed floor (protocol-locked forever), providers earn 50% of the swap fees, pro-rata exit anytime
- 05The two contracts are pinned to each other on-chain — beware of clones; verify every hash on explorer.xelis.io
External Security Audit
- 01Trail of Bits / OpenZeppelin / Hacken review of the live launchpad + DEX
- 02Immunefi bug bounty program
- 03Community review period
- 04Final parameter calibration from live mainnet data
Full Protocol on Mainnet
- 01PrivacyMixer V5 mainnet deployment
- 02xUSD, the vault engine and the oracle stack
- 03Public mining & provider onboarding
- 04VaultChat, governance and the VLT economy
- 05Governance handover to VLT holders
Privacy in finance
shouldn't be optional.
The community launchpad is live on mainnet — real confidential assets, locked seeds, no rug geometry. The full confidential platform follows in 2027. Become a price provider, build on the SDK, or launch the next community coin today.