Common
COMMON is a decentralized exchange (DEX) that integrates privacy features with an order book system. It allows users to conduct cryptocurrency transactions while maintaining anonymity and data confidentiality. The platform operates through a shielded token pool that provides privacy for users' transactions and asset holdings. [9]
Overview
Common is a decentralized exchange (DEX) designed to address two major challenges in DeFi: price inefficiency and lack of user privacy. It integrates a private order book, cross-chain liquidity aggregation, and zero-knowledge cryptography to provide efficient and private trading. The platform combines elements from centralized exchanges (CEXes) and decentralized systems to improve pricing and user experience. It supports features like private limit orders, batch processing to mitigate front-running, and a Dutch auction mechanism that adjusts prices dynamically to attract external liquidity.
Common also includes shielded pools and encryption-based privacy tools that obscure user holdings and activity. While users can opt into enhanced privacy through compliance verification (e.g., KYC/AML), the platform remains permissionless and non-custodial. Built on Aleph Zero, Common benefits from its scalability and development capabilities. The platform is open-source and community-governed, with plans to expand governance and incentivize liquidity through its CMN token. [1] [3]
Features
Shielding
Common’s shielded pools allow users to preserve privacy in DeFi by obscuring the link between their public wallet and subsequent transactions. The connection to the original address is broken when tokens are deposited into a shielded pool (“shielding”). Users can later withdraw (“unshield”) to a new public address, maintaining privacy across their activity.
Unlike traditional mixing-based privacy tools, Common doesn’t combine user funds. Instead, it uses on-device zero-knowledge proofs to verify transactions quickly without revealing data, ensuring privacy with minimal latency. This preserves full asset provenance, which can be important for compliance or audits.
Shielded pools are integrated into Common’s broader confidentiality system, which includes batched transactions and a Decryption Oracle based on multiparty computation (MPC). This setup allows transaction amounts and identities to remain hidden until orders are executed, at which point only the aggregated value is revealed. This approach reduces exposure to front-running and transaction tracking, addressing a major limitation in existing DeFi privacy tools that lack integration with on-chain trading protocols. [2] [4]
StableSwap AMM
StableSwap AMM on Common is a specialized automated market maker that trades assets such as stablecoins to maintain a stable price. It’s based on Curve Finance’s model, which uses a more sophisticated formula than traditional AMMs to reduce price slippage during swaps. This makes it more efficient for exchanging similarly priced assets.
Initially supporting the USDT-USDC pair, StableSwap AMM offers lower fees (0.05%) and better price execution than Common’s standard pools. Its efficiency and scalability are intended to drive higher trading volume, attract larger trades, and increase overall liquidity on the platform. [5]
Private Stablecoins
Private stablecoins are digital currencies designed to maintain a stable value, like USDT or USDC, but with added privacy features that conceal your wallet address, balance, and transaction history. They function like digital cash: easy to use, but without exposing your financial activity to the public.
Common integrates these private stablecoins into its platform, enabling users to hold, send, and even earn yield from protocols like Curve or Aave—all while keeping their financial data confidential. This combines the benefits of stability, privacy, and passive income in a single, user-friendly DeFi experience. [6]
Products
Web App
The Common Web App is a privacy-focused interface on the Aleph Zero EVM and Arbitrum testnets. The system uses Aleph Zero’s Shielder SDK, which leverages zero-knowledge cryptography. It enables users to manage digital assets through self-custody while limiting traceability on public blockchains. The app supports integration with wallets such as MetaMask, Rabby, and Talisman, allowing users to shield assets in a dedicated pool. At launch, supported tokens include TZERO, USDT, and SPR on Aleph Zero EVM Testnet and ETH, USDT, and SPR on Arbitrum Sepolia. Once assets are shielded, they can be withdrawn to a new address without revealing the transaction path.
Although entry into the shielded pool remains visible due to blockchain transparency, subsequent actions are concealed. The platform addresses open ledgers' privacy challenges, such as financial activity exposure and potential identity linking. Common Web App supports various privacy use cases, including separating transaction histories, discreet income reception, and private portfolio adjustments. Users are encouraged to withdraw to new addresses, use round figures, and vary transaction timing to enhance anonymity. [7]
CMN
CMN is the governance and utility token used within the Common platform and related products. The token is intended to support a community-driven ecosystem, with most of its supply allocated to Common and Aleph Zero users. The total supply is capped at 100 million CMN and will have the following distribution: [8]
- Airdrops: 20%
- Sale: 10-20%
- Farms and Incentives: 15-25%
- Treasury: 15%
- Team: 7%
- Liquidity: 7%
- Marketing: 7%
- CEX Listings: 9%
