Nullmask, a zero-knowledge privacy protocol for private transfers and swaps, has surpassed $50 million in private volume since October 1. The protocol, founded by Tomas Krnak, leverages Zcash-derived technology to enable private transactions directly within existing wallets.
According to the team, Nullmask processes approximately $3 million in private volume daily, with its peak day seeing around $4.5 million moved through the pool in 24 hours. This growth aligns with the broader trend of privacy becoming a major narrative in the web3 space, attracting institutional investors who require confidentiality for their capital movements.
Points Season 1 Launch
Nullmask has announced the launch of Points Season 1, which begins on October 19 and runs for 90 days. The program rewards users for moving money privately, with every withdrawal from the pool earning points. The Early Adopters Program will retroactively credit activity from before the season.
The protocol has already distributed approximately $1.5 million in ZEC rewards and $1.5 million to $MASK holders, and has burned 2.15% of the $MASK supply. All figures are verifiable on-chain via Dune and DefiLlama.
Privacy Without a New Wallet
Nullmask differentiates itself from earlier privacy tools by allowing users to add it to MetaMask, Rabby, Ledger, Trezor, or any wallet supporting a custom network. Users can shield tokens, native ETH, and NFTs in a single click, with private transfers completing in under 30 seconds. No new wallet or seed phrase is required, as privacy keys are derived deterministically from the user's existing wallet signature.
The protocol employs standard EIP-1559 transactions for authorization, including hardware wallets. Advances in proof systems have reduced the computational overhead from hours to just a few seconds on a laptop or phone.
Wave Batching and Compliance
To address the last link between deposits and withdrawals—timestamps—Nullmask's Advanced mode uses Wave Batching. Withdrawals are signed, queued, and sent together at scheduled waves in shuffled order, obscuring the exact time of user action. Users can split withdrawals into two to five parts, each with its own amount, address, and wave, up to 24 hours ahead. Fast mode remains available for immediate needs, with both modes carrying a 0.5% protocol fee.
Compliance is built into the protocol: deposits are screened against OFAC, EU, UK, and issuer blacklists, and risk-scored by AMLBot. Funds linked to sanctions, hacks, or illicit activities are refused and refunded automatically. Users can share their history via viewing keys, and revocation key pairs allow users to prove their funds were never linked to flagged deposits.
Integrations and Partnerships
Nullmask has partnered with Beldex, Dash Pay, QUAI, and THORChain, and reaches users through social trading apps like Fomo and exchange listings including Aster perps. The protocol is live on Ethereum, Base, BNB Chain, and Robinhood Chain, with Solana and private perpetuals planned.
Krnak's team previously built shielded transaction support into Trezor hardware wallets under a Zcash Foundation grant. The $50 million milestone in a few weeks underscores the demand for privacy solutions that integrate seamlessly with existing wallets.
This article is for informational purposes only and does not constitute financial advice.
