powered by X Layer

Every move
is visible.
Not for long.

A tokenised bill, a tokenised fund, a tokenised anything: on a public chain your desk, your size and your counterparties are readable by anyone who cares to look. XO holds those positions as cells nobody can read, and still proves, on every single move, that the issuer's rules were kept.

open the board › how it works
—
cells
—
seats
—
XO burnt
X Layer · 196 groth16 seats, not names no admin exit
A CRT showing a tic-tac-toe board
the two moves

One circuit. Two marks.

X

mark

Value shifts from one cell to another. The chain is handed two nullifiers and two new commitments, and that is the whole of it: not the holder, not the size, not the counterparty, and — when nothing settles out — not even which asset moved.

O

open

A cell settles out to a public address. The asset and the amount are on chain, because somebody is receiving a real thing. Where it lands is checked against the issuer's own list, in the same transaction, or it does not happen.

what makes it RWA and not a mixer

A seat, proved without a name.

A mixer asks nothing of the person on the other side. A transfer agent cannot work that way. XO keeps the issuer's list as a tree of seats — Poseidon(key, asset, expiry, serial) — and every cell a move writes has to land on a seat that is still in date at the timestamp the chain pins to that block. The proof shows a seat exists. It never shows which one.

gated assets

The issuer seats keys

Only the issuer of an asset may write a seat for it, for no longer than the term it chose. Revocation is non-renewal: seats run out, and a holder who should not be there is simply not seated again.

open assets

Anyone seats themselves

WOKB, USD₮0, USDC and USDG have no transfer agent behind them, so they have no gatekeeper here either: take a seat, put them on the board, settle anywhere.

never a lock

Surrender always works

Seat lapsed, asset halted, issuer's list emptied: one call gives up a cell in the clear and is paid at the redemption address, which is written once when the asset is listed and can never be changed.

the token

The toll is auctioned for XO,
and the XO is burnt.

toll on a settlement—
toll to put an asset on the board—
XO burnt per seat—
XO a relayer bonds—
supply—

The sink holds what the tolls collect and sells it in a descending auction priced in XO. Nobody sets that price: it halves until a bid finds the lot worth taking, and whatever is paid is burnt. No oracle, no router, no owner, nothing to turn off.

one lot, falling
time → taken · burnt
the circuits

What is actually proved.

move · X and O
constraints50,220 · 23,739 non-linear
board tree2²⁰ cells
roster tree2²⁰ seats
spends / writes2 in · 2 out

Membership of both cells, ownership of both keys, the nullifiers, a seat in date for every cell written, and that nothing was created out of nothing. A witness that breaks one of them cannot be produced at all.

ceremony
phase 1hermez powers of tau · 2¹⁷
phase 22 contributions + a beacon
beaconX Layer block 74,440,298
hash0x864d7737…c0f71e41

The final randomness is a block hash from the chain this runs on, so the one thing everybody is asked to trust is something anybody can go and check.