On March 10th, Sahara Protocol successfully completed its deployment on the Polygon blockchain.
The event, which minted 650,000,000 $SHRA tokens, marked the mainnet launch for Sahara, a privacy protocol that enables on-platform trade between volatile and stable assets on Ethereum-based blockchains. Sahara, still in its private rounds of raising funds, aims to bring data privacy back to blockchain finance, and has developed its technological framework and platform primarily through self-funding ahead of their public sale.
Token generation events of this kind are uncommon, as most blockchain projects rely on the completion of all raise rounds before commencing full product development. By launching a finished platform in advance of exchange listings or token claimability, Sahara increased its community and investor interest considerably.
The CEO and co-founder, Babak Rabiee, said of the launch:
“We’re a product-focused project. We’re not interested in becoming another blockchain company that dries up while tokens circulate and deflate in wait for technological development. Our mission is to bring privacy back to blockchain finance – and that’s a long-term venture that requires a sustainable financial ecosystem to support it.”
Sahara raised $2 million USD ahead of their MVP launch, and the beta version of the privacy ecosystem has been live since the beginning of the year. Developed in collaboration with Vilnius-based blockchain development company SUPER HOW, the privacy protocol is the first of its kind, deploying in the midst of a considerable wave of interest for privacy projects on the blockchain.
One of blockchain’s biggest Achilles’ heels, true privacy is a highly sought-after functionality amongst traders and users worldwide. Under ever-increasing scrutiny from governments and other centralized financial bodies, however, blockchain-based privacy initiatives also face an uncertain future. Sahara’s further development is focused on navigating this intersection between user demand, data privacy rights, and blockchain mass adoption.
By making use of bespoke relayer and anonymity set functionality, the protocol provides users with the ability to trade and operate in privacy, without moving away from their current blockchain. Sahara is set to launch on Ethereum, as well as Solana, Avalanche, and Binance Smart Chain, and so expand the privacy functionality for users beyond isolated privacy blockchains like Tornado Cash or Monero.
Sahara Protocol is headed up by an international executive and development team, with its headquarters in Dubai, UAE. Listings on both decentralized and centralized exchanges are expected later this year.