Wraith Protocol: Switchable Public and Private Ledger

What is Wraith Protocol

Friends, imagine when we chat online or send emails, sometimes we want the content to be visible only to specific people, not to be snooped on by others. In the blockchain world, every transaction we make, such as transfers, is usually public and transparent—like moving money from one transparent wallet to another, and everyone can see where the money goes. Wraith Protocol (WRAITH for short) is like putting an 'invisibility cloak' or a 'secret tunnel' on your blockchain transactions.

Simply put, Wraith Protocol is a privacy protection project built on Binance Smart Chain (BSC), with the core goal of giving you 100% privacy, confidentiality, and freedom when conducting digital asset transactions. It acts as a 'digital privacy steward', helping you hide transaction information so others can't easily track it.

Core scenarios:

• Secret transfers: If you don't want others to know who you sent money to and how much, Wraith Protocol can help you achieve that.
• Identity protection: It can obscure your online identity, so your transaction records are no longer directly linked to your personal information.

Typical usage process:

You can deposit your digital assets (such as BNB) into the 'privacy pool' (WraithSecure Wallet) provided by Wraith Protocol. This privacy pool is like a big melting pot, where your funds are mixed with those of other users. When you need to withdraw, the funds are taken out from this mixed pool and given to you at a new address, making it very difficult to trace where the money originally came from or where it went.

Project Vision and Value Proposition

The Wraith Protocol team believes that everyone should enjoy complete privacy when managing their financial assets and related transactions. They hope to fundamentally change our perception of privacy through blockchain technology.

Core issues:

In the current blockchain world, especially on public chains like Binance Smart Chain, although transactions are open and transparent, this also means every movement of your funds can be tracked. The Wraith Protocol team believes there are many malicious projects on Binance Smart Chain and hopes to provide the community with a safe, fully transparent environment to protect investors' funds from scams.

Value proposition:

• Complete Privacy, Confidentiality, and Freedom (PCF): This is their core philosophy, aiming to give users full control over their financial privacy.
• Security and reliability: They use technologies such as multi-signature wallets to ensure project security and promise not to require users to undergo 'Know Your Customer' (KYC) verification, further protecting user privacy.
• Resisting malicious projects: The team states they are committed to building a valuable utility token on BSC, providing users with a safe investment venue.

Differences from similar projects:

Wraith Protocol achieves transaction anonymity through its unique 'privacy pool' mechanism (WraithSecure) that mixes funds. Additionally, they emphasize team transparency (fully public team member information) and a commitment to community safety.

Technical Features

The technical core of Wraith Protocol is how to make your transactions 'invisible'.

WraithSecure: Privacy Pool Technology

WraithSecure is the main component of Wraith Protocol, acting like a 'digital blender'. When you deposit funds into the WraithSecure wallet, your funds enter a smart contract-controlled 'privacy pool' and are mixed with those of other users. When you want to withdraw, the funds are taken out from this mixed pool and given to you at a new address, making it very difficult to trace the source and destination of the money. This mixing mechanism is designed to obscure transaction traceability and protect your online identity.

Multi-signature Wallets

To enhance security, Wraith Protocol uses multi-signature technology in the deployer wallet, WraithSecure liquidity pool, and marketing wallet. Multi-signature wallets are like safes that require multiple keys to open, meaning multiple parties must authorize operations, greatly reducing the risk of single-point failure or internal malfeasance.

Cross-chain Expansion Plan

The WraithSecure wallet will initially support BNB on Binance Smart Chain, but plans to expand to support more tokens and blockchain networks in the future, including Ethereum mainnet, Polygon, Tron, Neo, OKExChain, and eventually Bitcoin.

Future Security and Privacy Enhancements

The project plans to further enhance privacy and security through encryption technology, decentralized networks, and secure messaging. Additionally, features such as two-factor authentication (2FA) will be added for access control, providing users with a one-stop DeFi (decentralized finance) and privacy security solution.

Tokenomics

The token of Wraith Protocol is WRAITH, which plays an important role in the project ecosystem.

Basic Token Information

• Token symbol: WRAITH
• Issuing chain: Binance Smart Chain (BSC)
• Total supply: 9,400,000,000,000 WRAITH (9.4 trillion)
• Circulating supply: Self-reported circulating supply is about 5,271,761,200,560 WRAITH (about 5.27 trillion), accounting for 56.08% of the total supply. Other sources show 5,400,000,000,000 WRAITH.
• Locked tokens: 4,000,000,000,000 WRAITH are locked.

Token Utility

WRAITH is a utility token within the Wraith Protocol ecosystem, mainly used to access its privacy features, such as anonymous transactions via the WraithSecure wallet.

Transaction Tax and Allocation

Wraith Protocol levies an 8% tax on all transactions (including buying, selling, and transfers). The allocation of this tax is as follows:

• 1% for WraithSecure liquidity pool: This portion supports the privacy features of WraithSecure.
• 5% for liquidity: Through an automatic liquidity pooling mechanism, each transaction increases the liquidity pool, helping to raise the token's price floor and sustainability.
• 2% for the team: This portion pays team members' salaries, ensuring qualified personnel for development and operations.
• 3% for marketing: This portion is used for project promotion and publicity to expand its influence.
• Burn mechanism: With each transaction, a portion of tokens is permanently removed from circulation, helping to increase token scarcity and potential demand.

Team Token Allocation

Wraith Protocol team members do not receive pre-allocated tokens. They must purchase tokens with their own funds, indicating that the team's interests are aligned with the community and helping to build trust.

Team, Governance, and Funding

The success of a project depends on the efforts of its team and a reasonable governance structure.

Core Members and Team Features

Wraith Protocol's team members are fully doxxed, meaning their identities are public. Core members include:

• Noah "Rusty" (CEO & Founder): Background in criminal justice, computer engineering, and team development.
• Garrett "Crypto Redneck" (CFO & Founder): Former college athlete, currently pursuing further studies.
• Ken (COO & Operations): Experience as a commercial construction foreman and a background in psychology.
• Mr. Pickles "Fully Pickled" (CMO & Marketing): An experienced entrepreneur, former record label owner, talent agent, executive chef, with 15 years of strategic marketing experience.

The team states they are tired of the malicious projects rampant on Binance Smart Chain and are committed to providing the community with a safe, transparent environment to ensure investor fund security.

Governance Mechanism

The project manages key funds through multi-signature wallets, including the deployer wallet, WraithSecure liquidity pool, and marketing wallet. Multi-signature is a cryptographic technology that requires multiple parties to authorize transactions, increasing fund security and decentralizing control.

Treasury and Funding

The project obtains funding through transaction taxes, with 2% allocated to the team and 3% to marketing. This mechanism provides a source of funds for ongoing development and promotion. The team also states they will make their wallet addresses public to maintain transparency in fund flows.

Roadmap

The Wraith Protocol roadmap outlines the project's development trajectory and future plans.

Historical Milestones (based on 2021 information)

• WraithSecure wallet launch: Initially supported BNB privacy transactions on Binance Smart Chain.
• Security audit: The project has commissioned Solidity for a comprehensive security audit.

Future Plans and Milestones

• Expanding token support: WraithSecure wallet will gradually add support for other altcoins and stablecoins on Binance Smart Chain.
• Cross-chain expansion: Plans to extend WraithSecure services to other blockchain networks, including Ethereum mainnet, Polygon network (MATIC), Tron network (TRON), Neo network (NEO/GAS), OKExChain (OKB/OKT), and eventually Bitcoin (BTC).
• Enhanced privacy and security: Will continuously improve product privacy and security through encryption, decentralized networks, and secure messaging.
• Adding access control: Plans to introduce features such as two-factor authentication (2FA) to provide users with comprehensive DeFi and privacy security solutions.
• Future liquidity pools: Will generate future liquidity pools for WraithSecure functionality.
• Staking and NFT: According to 2021 information, the project is considering the development of staking and NFT (non-fungible token) series.

Common Risk Reminders

Investing in any cryptocurrency project carries risks, and Wraith Protocol is no exception. Understanding these risks can help you make more informed decisions.

Technical and Security Risks

• Complexity of privacy technology: Implementing privacy protocols is very complex, and any technical loophole may lead to privacy leaks. Although the project claims to have undergone a security audit, the comprehensiveness and effectiveness of the audit results require ongoing attention.
• Smart contract risks: The WraithSecure wallet relies on smart contracts, which may have code vulnerabilities. If attacked, user funds may be at risk.
• Cross-chain risks: As the project expands to more blockchains, the complexity of cross-chain operations increases, potentially introducing new security vulnerabilities.

Economic Risks

• Market volatility: The cryptocurrency market is highly volatile. The price of WRAITH tokens may be affected by market sentiment, macroeconomic factors, and project progress, with the risk of large fluctuations.
• Liquidity risk: If WRAITH token trading volume is insufficient, it may result in large bid-ask spreads, making it difficult to buy or sell quickly at ideal prices.
• Competition risk: The privacy sector is highly competitive, with other mature privacy coins and protocols in the market. Whether Wraith Protocol can stand out remains to be seen.
• Effectiveness of the token economic model: Although the 8% transaction tax provides funding for the project, an excessively high tax may affect users' willingness to trade and the token's liquidity.

Compliance and Operational Risks

• Regulatory uncertainty: Global regulatory attitudes toward privacy coins and protocols are still unclear. Stricter regulations may be imposed in the future, which could negatively impact project operations and token value.
• Team execution risk: Although team members are public and transparent, the project's success still depends on the team's execution ability, development progress, and marketing effectiveness.
• Community support: The activity and support of the community are crucial to the project's long-term development.

Please remember, the above information does not constitute investment advice. Always do your own research (DYOR) before making any investment decisions.

Verification Checklist

To gain a deeper understanding of Wraith Protocol, you can verify through the following methods:

• Block explorer contract address: You can look up the WRAITH token contract address (e.g., 0x8690...668808) on Binance Smart Chain block explorers such as BscScan to view its transaction records, holder distribution, and other information.
• GitHub activity: Check the project's GitHub repository to see code update frequency and developer contributions, which can reflect development activity.
• Audit report: Review the audit report the project claims to have commissioned from Solidity to understand the security assessment of its smart contracts.
• Official website and social media: Visit Wraith Protocol's official website and social media channels (such as Twitter, Telegram, Discord, etc.) for the latest announcements, community discussions, and project progress.

Project Summary

Wraith Protocol is a project dedicated to providing transaction privacy and anonymity on Binance Smart Chain, with its core being the 'WraithSecure' privacy pool technology that mixes user funds to obscure transaction traceability. The project team is public and transparent and plans to expand services to other mainstream blockchains. As a utility token, WRAITH supports project operations, marketing, and liquidity through an 8% transaction tax and includes a burn mechanism.

The vision of Wraith Protocol is to provide users with complete financial privacy and freedom and to establish a safe investment venue in the current BSC environment full of malicious projects. However, like all crypto projects, it faces technical, economic, and compliance risks. For those interested, it is strongly recommended to conduct in-depth research, review the official whitepaper, audit reports, and community discussions to fully understand the project and assess its potential risks and opportunities.

Note: The above content is for project introduction only and does not constitute any investment advice. Cryptocurrency investment is high risk, please make decisions cautiously.