feat(vendor): add Bermuda - #191
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Bermuda deploys as smart contracts on existing EVM chains: client-side Noir/Barretenberg proving, a KYT deposit gate with Proof-of-Innocence withdrawals and an on-chain Chainalysis sanctions oracle, per-token issuer policies (public or private) with issuer viewing keys and clawback, FROST multisig shielded accounts, Safe-authorized recovery, and coordinator-free cross-chain DvP over ERC-7888 broadcast proofs. Featured as the privacy example (Box 5) in the GL1 Programmable Compliance white paper (June 2026). Co-Authored-By: Claude Code <noreply@anthropic.com>
rymnc
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Sep 4, 2026
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thank you for your PR! attached some comments in-line and then we should be ready to merge.
please also add the change to the changelog :)
| maturity: testnet | ||
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| # Bermuda – Privacy and compliance layer for the EVM |
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| # Bermuda – Privacy and compliance layer for the EVM | |
| # Bermuda (Privacy and compliance layer for the EVM) |
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| ## Enterprise demand and use cases | ||
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| - **Stablecoin, deposit-token and RWA issuers**: private or public policies, | ||
| issuer viewing key and clawback give the issuer the controls expected of a | ||
| regulated token while holders keep confidential balances | ||
| - **Regulated tokenised assets**: the privacy example (Box 5) in the Global | ||
| Layer One white paper *Programmable Compliance* (June 2026, with Banque de | ||
| France, the IMF, Kinexys by J.P. Morgan, MAS and Standard Chartered) | ||
| - **Banks and institutions**: shielded treasury under Safe multisig, | ||
| recoverable accounts, atomic cross-chain DvP and PvP, bilateral repo and OTC | ||
| swaps | ||
| - **Wallets and neobanks**: shielded balances and transfers behind existing UX | ||
| - **Payments**: payroll, card settlement, x402 | ||
| - **Asset management**: shielded ERC-4626 positions, private yield and DeFi, | ||
| private order books |
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can you link the relevant approaches/use-cases here?
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| Bermuda is a privacy and compliance layer deployed as contracts on existing | ||
| EVM chains. Funds sit in a smart contract as shielded UTXOs: balances, amounts and | ||
| counterparties are hidden by zero-knowledge proofs generated on the user's | ||
| device, and every transfer proves in zero knowledge that it satisfies the | ||
| issuer's policy for that token. Sanctions screening, retroactive flagging with | ||
| Proof of Innocence, issuer policies and clawback are enforced by the smart | ||
| contract and its circuits, not by an operator who reads transactions. It is | ||
| middleware, not a chain, wallet or custodian. |
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i would suggest that you add a couple of sentences regarding compliance standards / how to BYOC (bring your own compliance)
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| - Curves in use: BN254 (proof system), Grumpkin (signatures), Curve25519 (encryption) | ||
| - Proof system: Noir, Barretenberg (UltraHonk); no circuit-specific trusted setup (universal SRS) | ||
| - Signing: Schnorr, FROST, Golden DKG | ||
| - Encryption: XChaCha20-Poly1305 |
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could be useful to disambiguate curves in use (which mentions curve25519) and encryption here
for example, Note Encryption: XChaCha20-Poly1305
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| ## Risks and open questions | ||
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| - Testnet stage: no mainnet deployment, third-party audit or bug bounty published | ||
| - Anonymity depends on activity in the contracts per chain and asset |
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i think there are further risks, re: relayer dependence, etc
| sequencer, coprocessor network or bridge in the transaction path | ||
| - Not a wallet or custodian: users keep their keys in existing wallets | ||
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| ## Architecture |
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this section can be made slightly more concise and without super technical wording
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Adding a Vendor/Protocol
Protocol Name: Bermuda Protocol
Brief Description:
Privacy and compliance layer for the EVM, deployed as smart contracts on existing chains. Funds are held as shielded UTXOs; client-side zero-knowledge proofs hide balances, amounts and counterparties, and every transfer proves that it satisfies the token issuer's policy. Sanctions screening, Proof-of-Innocence withdrawals, issuer policies and clawback are enforced by contract and circuit rather than by an operator who reads transactions.
Documentation Link: https://docs.bermudabay.xyz/
Status: testnet
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