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private-trading

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Sylphy is private DeFi execution protects intent details, matching logic, policy checks, and audit context while keeping final settlement verifiable on-chain.

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# Sylphy — Trade Crypto Privately

> *Trade any token privately on Base. No one sees your wallet, your amount, or your price. Not even us.*

---

## What is Sylphy?

Every crypto trade you make is public. The whole world can see your wallet, how much you bought, and at what price. If you're trading — that's a problem. Competitors copy your moves. Prices shift before you're done. You lose money just by being visible.

**Sylphy fixes this.** It lets you trade directly with another party inside a sealed private room. The blockchain records that a trade happened — but nothing else.

### Who is it for?

Everyone. Retail traders, degens, whales — doesn't matter. If you want privacy when you trade, Sylphy is for you. No minimum trade amount. No sign-up. No KYC. Just connect your wallet and go.

---

## How It Works

```
You paste a token CA → Sylphy finds a match → Trade settles on Base → Nobody knows the details
```

### 5 Steps

| Step | What Happens | Privacy |
|------|-------------|---------|
| **1. Paste Token CA** | Enter any ERC-20 contract address on Base | — |
| **2. Submit Intent** | Set buy/sell, amount, price — encrypted instantly | 🔒 AES-256-GCM |
| **3. Match** | Sylphy finds a matching buyer/seller inside secure hardware | 🔒 TEE Enclave |
| **4. Settle** | Trade executes on Base — amounts hidden behind math | 🔒 ZK Proof |
| **5. Done** | You get your tokens. Nobody saw anything. | 🔒 Fully private |

---

## Tech Stack

| Component | Technology |
|-----------|-----------|
| **Chain** | Base (Chain ID: 8453) |
| **Smart Contracts** | Solidity 0.8.24 (Hardhat) |
| **Privacy** | TEE (Trusted Execution Environment) |
| **On-chain hiding** | Pedersen Commitments + ZK Proofs |
| **Audit** | Encrypted on-chain logs (regulator key only) |
| **Token Support** | Any ERC-20 on Base |
| **Native Token** | $SYLPHY (`0x47e6c378bf05408c8b111074e84b980d061e7ba3`) |
| **Frontend** | Vanilla HTML + CSS + JavaScript |
| **Backend** | Express.js + TypeScript |
| **API Monetisation** | x402 Protocol (USDC micropayments per-request on Base) |
| **Swap Execution** | Uniswap V2 router via SylphySettlement (instant DEX swaps) |
| **Token Resolver** | CoinGecko API + Base on-chain lookup |
| **Wallet** | MetaMask, Coinbase, Trust, Rabby, WalletConnect |

---

## API Endpoints

Sylphy's backend uses the [x402 Protocol](https://x402.org) — external API clients and AI agents pay USDC per-request on Base. **Frontend browser users bypass payment automatically (free).**

### Free Endpoints

| Method | Endpoint | Description |
|--------|----------|-------------|
| `GET` | `/health` | Health check + server status |
| `GET` | `/api/fees` | Protocol fee info + x402 pricing |
| `POST` | `/api/agents/register` | Register an AI agent |
| `GET` | `/api/agents/receipts` | Agent access receipts |

### Paid Endpoints (x402 USDC — external API / AI agents)

| Method | Endpoint | Price | Description |
|--------|----------|-------|-------------|
| `GET` | `/api/token/:address` | $0.01 | ERC-20 token info by CA |
| `POST` | `/api/intent` | $0.01 | Submit private trade intent |
| `GET` | `/api/market-depth/:token` | $0.01 | Anonymized order book depth |
| `GET` | `/api/match-status/:id` | $0.01 | Intent match status * |
| `GET` | `/api/audit/:id/agent` | $0.25 | AI-safe audit summary ** |
| `POST` | `/api/intents/trade` | $0.01 | Agent trade intent ** |
| `POST` | `/api/swap` | $0.02 | Instant DEX swap via Uniswap V2 ** |

> \* Authorization required: only the intent owner or authorized agent can query.  
> \*\* Authorization required: payment alone is not sufficient (agent must be registered).

### Admin Endpoints

| Method | Endpoint | Description |
|--------|----------|-------------|
| `GET` | `/api/admin/x402/revenue` | Revenue dashboard |
| `GET` | `/api/admin/x402/payments` | Recent payment history |
| `GET` | `/api/admin/x402/payer/:wallet` | Per-payer spend stats |

**Base URL:** `http://localhost:3001`  
**x402 Payment:** USDC on Base · `X-PAYMENT` header per [EIP-x402](https://x402.org)

---

## Revenue Model

Sylphy has two independent revenue streams:

| Stream | Rate | Token | Destination |
|--------|------|-------|-------------|
| **Settlement fee** | 0.3% per trade | ERC-20 (trade token) | `TREASURY_ADDRESS` |
| **x402 API fee** | per-request (see table above) | USDC on Base | `X402_PAY_TO_ADDRESS` |
| **Swap fee** | 0.3% per swap | ERC-20 (swap token) | `TREASURY_ADDRESS` |

---

## Privacy Guarantees

| What's Hidden | How |
|--------------|-----|
| Your identity | Trade happens inside TEE — no one sees who |
| Trade amount | Pedersen commitments on-chain (hidden behind math) |
| Trade price | Only inside TEE — never exposed |
| Counterparty | Encrypted — each trader only sees their own receipt |
| Timing | Random delay jitter prevents timing analysis |
| Audit trail | Encrypted on-chain — only regulator key can read |

**What the blockchain sees:**
```
✅ A settlement happened (tx hash exists)
✅ Integrity proof (verifiable)
❌ Who traded — HIDDEN
❌ How much — HIDDEN
❌ At what price — HIDDEN
```

---

## License

MIT

private-trading

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