Railgun

Railgun is a smart contract system deployed on Ethereum, Binance Smart Chain, Polygon, and Arbitrum that adds on-chain privacy to decentralized exchange trading, token transfers, and other smart contract interactions. It addresses the problem that ordinary blockchain activity is publicly visible by default, and it is aimed at users who want to keep their trading and financial activity confidential. Unlike some privacy approaches, it operates without a separate layer-2 node network or cross-chain bridges, keeping all activity settled on the underlying chain.

Railgun uses zk-SNARK cryptography, a form of zero-knowledge proof, to shield transaction details while still allowing them to be verified on-chain. Users build up a private balance inside the smart contract system and can trade or transfer from within that shielded balance without withdrawing to a visible address first. The RAIL token is a governance and utility token: stakers can vote on protocol updates and are eligible to receive treasury rewards.

The protocol collected 19,641 USD in fees over the most recent 24-hour period, 101,867 USD over the trailing 7 days, 291,849 USD over the trailing 30 days, and 4,389,374 USD over the trailing 12 months. The take rate recorded for the trailing 30 days is 100 percent, meaning the entirety of fees collected flows to the protocol as revenue rather than to a supply side such as liquidity providers; holders received 295,254 USD over the same 30-day window. Fees grew 73.94 percent over the last 30 days, and the annualized fee figure derived from the trailing 30 days stands at 3,550,829.50 USD.