Question 1

Deposit Guide

Accepted Answer

How to deposit

You need to deposit tokens to rhino before you can enjoy gas-free & private swapping, trading and investing on rhino

rhino.fi is a layer 2 self-custodial platform based on the StarkWare StarkEx Layer 2 technology. Only you control your tokens on rhino - no one else can access them.

Create a rhino account

Go to app.rhino.fi
Connect one of the supported wallets to rhino.fi

Create your Layer 2 account on rhino. The two signatures create your account and allow you access to the rhino API. Only you control your rhino account (no one else can access) as rhino is a self-custodial platform (DEX)

Make your first deposit

Click the deposit button
You can deposit from a range of different layer 2’s (Arbitrum, Polygon, zkSync) as well as BNB Chain and Ethereum Mainnet

Select the token that you would like to deposit. Some tokens are only available on certain networks - for example, the AAVE token can be deposited from Ethereum. Tokens such as ETH can be deposited from many different chains

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Question 2

Why do I need to sign a message when creating or accessing my account on a different browser?

Accepted Answer

Creating and accessing your account

As STARKs use a different signature scheme to the Ethereum blockchain, a STARK keypair needs to be generated, which allows for the interaction with StarkWare's high-speed settlement system.

Every time a rhino.fi trader submits an order to the exchange, or makes a deposit/withdrawal, they are cryptographically signing a message using their Ethereum wallet private key, which instructs their rhino.fi trading key on the required action.

This is a process that is common to all self-custodial layer-2 exchanges that use zero-knowledge cryptography (STARKs, SNARKs etc).

When you register your Ethereum address with rhino.fi for the first time (the registration transaction), a rhino.fi trading key is generated behind the scenes in a trustless manner and is associated with your Ethereum address. You can think of your rhino.fi trading key as similar to an API key on a centralised exchange.

For this key to be created and encrypted with your Ethereum account, you are asked to sign a message when you create your account and any time you use a new browser, as your key needs to be regenerated to access your account

Question 3

rhino.fi: Withdrawing Tokens

Accepted Answer

Withdrawing Tokens From rhino.fi.

You can withdraw by going to your rhino portfolio page and clicking the withdraw button in the top right hand corner of the page

Fast Withdrawals

Fast withdrawals arrive your on-chain wallet almost instantly.

Liquidity for fast withdrawals is limited by the amount of Liquidity Provider capital in the rhino bridge smart contracts

Ethereum: https://etherscan.io/address/0xaf8ae6955d07776ab690e565ba6fbc79b8de3a5d Polygon: https://polygonscan.com/address/0xBA4EEE20F434bC3908A0B18DA496348657133A7E Arbitrum: https://arbiscan.io/address/0x10417734001162ea139e8b044dfe28dbb8b28ad0#writeProxyContract BNB Chain: https://bscscan.com/address/0xb80a582fa430645a043bb4f6135321ee01005fef zkSync Era: https://explorer.zksync.io/address/0x1fa66e2b38d0cc496ec51f81c3e05e6a6708986f Optimism: https://optimistic.etherscan.io/address/0x0bca65bf4b4c8803d2f0b49353ed57caaf3d66dc Polygon zkEVM https://zkevm.polygonscan.com/address/0x65a4b8a0927c7fd899aed24356bf83810f7b9a3f Linea https://lineascan.build/address/0xcF68a2721394dcf5dCF66F6265C1819720F24528

Any limited fast withdrawal liquidity is replenished daily and you can withdraw up to 1/3 of the contract balance in one withdrawal

Fee - The rhino Bridge & withdrawal fees are updated regularly depending on the gas

Question 4

rhino.fi: Depositing Tokens

Accepted Answer

Depositing Tokens

Depositing Tokens To Your rhino.fi Account

This Video will take you through the steps required to deposit your tokens from your private wallet (MetaMask, Keystore or Ledger) to your rhino.fi exchange wallet on app.rhino.fi.

The rhino.fi exchange is what is known as a 'self-custodial' exchange. Instead of your tokens being held by a central party, deposited tokens are held by a series of open source smart contracts on the blockchain. These smart contracts take instructions from your private wallet every time you 'sign' a transaction, meaning that rhino.fi can only operate according to your instructions, for example to deposit, trade at a specific price or withdraw your tokens.

${youtube}Depositing tokens to rhino.fi

Question 5

Why your first deposit costs more in gas

Accepted Answer

rhino.fi uses a Layer 2 scaling solution. Before an address can use it, it needs to be registered with our smart contract. This registration step is combined with your first deposit and hence adds a bit more gas to the transaction.

Question 6

rhino.fi: What is the purpose of the Data Availability Committee?

Accepted Answer

What is the purpose of the Data Availability Committee?

Why is the Data Availability Committee needed?

Privacy is key to trading. In addition to being slow, existing decentralised exchanges make all trades visible, even though professional traders want to protect their trading activity, and proprietary trading strategies, from competitors and public view. Privacy will be a key requirement for decentralised exchanges to gain traction with this audience moving forward.

In order to achieve privacy, rhino.fi traders' balance data will be moved off-chain, rather than being stored on the blockchain. StarkWare, the provider of rhino.fi's scalability engine, is currently exploring other privacy-achieving methods that could be implemented in the future, without the need for data to be stored purely off-chain by a committee. However, the current approach was chosen as a pragmatic solution following conversations with large customers, and will be improved in the future.

What is the Data Availability Committee’s Role?

The Data Availability Committee has three main functions:

Protect user trading privacy by allowing balance updates and trades to be hidden from other users.
Check the state of balances and, if valid, sign to allow the merkel root of the state to be updated on-chain.
Publish all balances data if rhino.fi and or StarkWare were ever to go offline, or withhold data.

The initial DAC committee is comprised of

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