L2BEAT Privacy dashboard | Sergey Shemyakov (Berlin Ethereum Day, June 2026)

Hello everybody. I will stay here to not be confused by slides going up and down. But um yeah, my name is Sergey. I'm the ZK researcher at 0 to B. And today I will be speaking about our privacy dashboard.

So this is the dashboard. It's live. Uh you can see it on our website. Um currently this is in the exploration stage. We're still figuring out what information belongs there and how to present it.

And at the moment we see it as a part of a broader ecosystem discussion on privacy protocols. And we're trying to figure out what we can uh contribute to the discussion. Um to this regard there is already um very nice privacy dashboard from um PSE. And you can see they go very deep with their research. It's uh much better than our dashboard at the moment.

They already track um 22 protocols. Um here on my slides you can see number 18. This was last week. So they are not um not sleeping. Keep building.

So um there is already some work here, but um I think there are still some some stuff that you can see on our dashboard that's quite interesting. And in this talk I will talk about that and also about some other things that we've been um thinking about that still are not um on the website and more in the explo- exploratory stage. So let's start with some metrics. This is the um TVS chart. Um interestingly you can see the order of magnitude distribution um between different protocols because of the network effects.

Um Um yeah, then you can also see the transaction numbers. They're actually not so big. Uh currently only uh less than 1,000 of percent of all transactions are um this privacy related transactions. So not active. We also track some information about the anonymity sets for these protocols.

Um Tornado Cash has uh by far the best anonymity set numbers. You can see the um deposits in total and in the last 30 days and 7 days. But um in Tornado Cash, due to its architecture, it's also important to know which pool are you using for your privacy. So, you can also see this breakdown by the pool on our website. And interesting enough for me, um the 0.

1 ETH is seeing less um deposits than 1 and 10 ETH. Quite interesting. Yeah, we also have these numbers for Railgun. Um they're um smaller than for Tornado Cash, but still there is quite some privacy. Um for Railgun, they have um a swap feature that can exchange your tokens from within the the shielded pool.

So, here, the anonymity set is um let's say um a bit merged among these different assets. Um and for privacy pools, you can see the numbers are not so big. They're still starting um smaller. You can also see the uh TVL numbers. So, for Tornado Cash, you can see somebody putting um 400 millions through Tornado Cash.

I was Googling a bit. It doesn't seem to be a hack, actually. But um yeah, you can see these these charts as well. For privacy pools, they recently had a spike of activity. There was this one day um where the TVL increased pretty much way too times.

And recently, they also see an uptick in activity. So, this probably is related to their launch upcoming launch of version two. And for Railgun, in general, the numbers look quite organic and quite strong. So, we also have some other stuff on our dashboard. We have the descriptions of the protocols.

We have explanations on how the governance works. The smart contracts. But for the rest of the talk, I would like to speak about some ideas that are still not there, but we think should be definitely discussed when looking at these privacy protocols. So, first of all, we want to have a look at more protocols. Some of them are live yet.

Some of them are upcoming. I wanted to highlight APH 182 that wants to put this privacy features on the one itself and code it in the protocol. But some of the other things we were looking at, for example, off-chain privacy risks. We wrote this best practices that tries to look at this a bit more holistically. We think that just looking at what's happening on chain, anonymity numbers, anonymity sets is not enough.

We also have the issue of malicious front ends, have the issue of wallets and RPC leaking your or reading your private data. Some IP data leaks. And here we have a question. Kind of is it possible to have some some framework of looking at this? We don't know yet.

The next question we had a look at is institutional privacy. So, this is very important in regards to this effort bringing institutional money on chain. Um and this is very much different from the Cypherpunk type of privacy that I was talking before. Um this um actually works a bit more like Web 2 privacy. Where there is some admin or operator, this institution that wants to know everything or close to everything.

They have some legal requirements for this. And then the user should not be able to see from the outside the actions of other users. We did a breakthrough the breakdown of Previdium and Canton blockchains that go in that direction. There is also Miden L2 upcoming solutions for this. But for us it's not even clear whether this is should also be somewhere on the privacy dashboard.

Could this be put in one row of with Tornado Cash and privacy principles? Or is it a completely separate discussion, completely separate dashboard? We don't know yet. And in discussion with the with this we also we're looking at the compliance framework. So we I think there is a rough consensus in the ecosystem that we also need some compliant privacy.

So if you are just unconditional non-compliant, you have some issues. Law enforcement might be coming knocking down your door, or you might be mixing your tokens with the people you don't want to be mixing your tokens with, like hackers or North Koreans. So this might be a bit controversial, but there are definitely efforts to bring this compliance to to a mature ecosystem. And there are different solutions to this. Here on the on the slide it's just my attempt of classifying this.

But we'll be looking at these frameworks and what thinking from the perspective of a user, what is good, what is not so good. So for example, non-compliance may be good for a user, but also these solutions where you have to be whitelisted or to not be blacklisted before you enter. And I think it's okay because then you'll know from the very beginning what's going to happen as a user and you have the choice. So this is what privacy pools and Railgun do. There is this another approach that is employed by privacy boost.

Um they have a admin viewing key that can basically read all your private transactions, but this is baked into a TE, so every time the um this happens, so an auditor and maybe legally is required to see your transactions, there is a transaction um money on chain. So this is transparent and you can see every time your anonymity is um docked. So maybe this is an okay compliance. I don't know. But there are some worse examples.

For example, a steer cut 20 has this admin viewing key that can um read through all your all your privacy, but you don't even know when somebody is doing this, so you might not be aware of of this. Um yeah, and this is a question whether there is um some sort of framework that could be put together and some guidance on this compliance. This is something we also have no clear answer to. So yeah, here are these three open points that we um we're thinking about. Um off-chain privacy risks, institutional privacy and compliance.

If you have some ideas, please um find me. Talk about this, I think um we should um discuss this together as a community. And yeah, that's the end of my presentation. Um I'll be happy to answer any questions.

[applause]