I have been playing around with the renZEC bridge and had a couple questions to clear up.
Can my renZEC become frozen in any way like USDC?
Are there limits as to how much renZEC we can make a transfer?
Will we ever be able to withdraw our renZEC to a shielded address?
In the future would it be possible to achieve shielded wZEC transactions on other chains? Or will wrapped zec always be transparent as I understand it is now.
- Can my renZEC become frozen in any way like USDC?
There are no freeze functions on the token wrappers.
- Are there limits as to how much renZEC we can make a transfer?
No limits.
- Will we ever be able to withdraw our renZEC to a shielded address?
Withdrawing directly to a shielded address is not possible at the moment as signing shielded transactions is different from signing transparent transactions, and RenVM’s MPC protocol is only capable of the transparent type. It might be possible in the future, although you can always withdraw to a transparent address and then you yourself send that to a shielded address, and afaik some Zcash wallets make that very easy to do.
- In the future would it be possible to achieve shielded wZEC transactions on other chains? Or will wrapped zec always be transparent as I understand it is now.
The shielded feature is something that exists on the Zcash chain itself, that feature can’t transfer to other chains because these other chains don’t have privacy like Zcash. There are third-party privacy protocols being built on chains like Ethereum, allowing you to shield assets to some extent, it isn’t something the Ren team will develop.
thank you so much for your quick and detailed response. much appreciated.