The Problem

On Ethereum alone, over 89% of active wallets have been deanonymized by analytics firms (e.g. Arkham), exchanges, and AI-driven chain heuristics.

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The limits of mixer privacy

Even “private transactions” on public chains leak metadata:

• gas timing

• nonce increments

• calldata shape

• recipient patterns

• mempool sniffing

Research shows 42% of TornadoCash users were re-identified from metadata alone. Shade’s encrypted mempool eliminates this entire attack surface.

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MEV exists because blockchains are visible

MEV bots extracted over $1.1B in 2024 by front-running, sandwiching, and predicting user activity.

They’re not “participants.” They’re predators — and public blockchains feed them everything they need.

Shade fixes the problem at its root: we remove the visibility.

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Public chains make your identity traceable

Wallet clustering tools can now connect:

• your ENS

• your CEX withdrawals

• your social profiles

• your friends’ wallets

• your previous addresses

Up to 72% accuracy according to Chainalysis. You might think you’re anonymous. You’re not.

Shade restores what crypto lost: true unlinkability.

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Smart contracts leak everything

On Ethereum, every internal detail of a contract is visible:

• variables

• mappings

• storage updates

• execution paths

• intermediate states

In a transparent execution environment, your logic becomes alpha for your opponents.

Shade introduces the world’s first private EVM, where contract state, storage, and execution are completely invisible.

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Why this matters

• The moment your wallet is linked, your history becomes searchable forever.

• Timing, flows, and behavior patterns are enough to reconstruct intent.

• MEV thrives because visibility is total.