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Privacy
SummaryProtocol descriptionPrivacyValue LockedAnonymity setsFlowsAssets BreakdownRisk summaryUpgrades & GovernanceTrusted setupVerifier IDsUpdatesPermissionsSmart contracts

Railgun logo
Railgun

About

An onchain privacy system for Ethereum based on encrypted UTXO-style private balances and zk-proven DeFi interactions.

  • Total Value Locked
    $93.85 M1.34%
    across 8 assets and 8 buckets
  • TVL
    $93.85 M1.34%
  • Assets tracked
    8
  • Buckets tracked
    8
  • Deposits 7D
    8956.42%
  • Deposits 30D
    3.81 K
  • Deposits Total
    67.08 K
  • Avg. Relayers 30D
    63
  • Trusted setup
  • Exit window
  • Privacy
    Link privacy
  • Reproducibility
  • Tracked on
    Ethereum logo
  • Attributes
    ZKTransfersDeFiAny amount

    • About

    An onchain privacy system for Ethereum based on encrypted UTXO-style private balances and zk-proven DeFi interactions.

    Protocol description

    Railgun is a non-custodial privacy protocol on Ethereum built around encrypted UTXO-style private balances rather than fixed-denomination pools. This design enables in-protocol transfers of shielded tokens and interactions with DeFi smart contracts on L1.

    A shield transaction moves assets from a public address on Ethereum into the Railgun contract and creates encrypted commitments in a Merkle-tree state. Later private transfers or unshields use zk-SNARK proofs to spend those commitments without revealing the sender, recipient, token type, or amount. Notes created by deposits and private transactions represents ownership of tokens in Railgun, users must keep them secret and make sure the notes are not lost.

    Railgun supports private transfers and cross-contract interactions without fragmenting liquidity across denominations. DeFi calls can be executed through the RelayAdapt contract, which temporarily unshields tokens to Ethereum L1, performs a sequence of contract calls, and shields the resulting assets back into Railgun in a single transaction (facilitated by a relayer).

    Railgun has a DAO governed by holders of the RAIL token. The DAO has the authority to arbitrarily change the logic of the protocol and its shielded tokens.

    Privacy considerations

    Railgun protocol supports relayed withdrawals, in which a relayer (called a broadcaster in Railgun ecosystem) processes withdrawals on the user’s behalf for a fee, which enables sending funds to fresh addresses. Transactions from private addresses can be sent through relayers over the Waku network, which increases network-level privacy. Railgun allows interactions between shielded tokens and DeFi, which allows depositing and withdrawing different tokens.

    Practical privacy also depends on the timing and amounts of deposits and withdrawals. Users are advised to research OPSEC best practice.

    Fees

    There are mandatory onchain protocol fees of 0.25% for shields and 0.25% for unshields. The NFT fee field is currently set to 0. Shield and unshield fees are sent to the Railgun Treasury.

    Relayers can charge additional offchain fees for submitting transactions on a user’s behalf. These relayer fees are not set by the core protocol contracts.

    Compliance

    Railgun protocol does not enforce any compliance measures. However it allows using Private Proof of Innocence(PPoI), which can attest to the origin and history of shielded tokens. Relayers and some wallets require a valid PPoI for their services, but they are not generally enforced.

    Additionally, Railgun users can share a read-only viewing key to expose all sent and received private transactions, if required by a regulator or enforcer.

    Anonymity set

    Because Railgun allows private transfers, optional PPoIs that can be enforced by relayers, and interactions with DeFi, its anonymity set depends on many details. A withdrawal from Railgun could be connected with a deposit of another token, or could not correspond to any deposit if a user received a private transfer from another user. The anonymity set, in the best case, corresponds to the set of all Railgun users.

    Privacy

    What the protocol promises: Hides everything inside the pool, including which shield funds which unshield. Shields and unshields are public.

    On public blockchains like Ethereum, all actions transparent by default. A privacy protocol can at best cut the link between addresses or offer privacy while deposited. The colour says whether a careful user can keep the link, amount or recipient private against that adversary: green yes, yellow only outside supported options or by accepting another leak, red no. Fields marked at risk stay private only under the condition in their note.

    Link private

    Everything inside the pool is hidden, including which shield funds which unshield. Shields and unshields show address, token and amount. DeFi bundles unshield to the adapter in cleartext.

    Advice: Exit through a broadcaster, so no wallet of yours pays gas for the receiving address.

    InsideSenderprivateRecipientprivateAmountprivateAssetprivateLinkprivate
    Sources:RailgunSmartWalletNote ciphertext format
    Link private

    The candidates for an unshield are the shields of the same token. In-pool transfers break the one-to-one match of a mixer, but timing and exact or round amounts narrow the set. Paying gas from your own wallet instead of a broadcaster exposes that wallet's fingerprint, its account implementation and fee habits, even from a fresh address.

    Advice: Withdraw common amounts rather than everything at once. Wait before exiting and pick a different time of day than the deposit. Exit to a fresh address every time and spend from it with a different wallet than the one that deposited.

    Compared with a public observer
    InsideAmountprivateAssetprivate
    Sources:A Tattered Cloak of Invisibility (arXiv:2606.25926)The Anonymity Gap (arXiv:2608.22987)
    Link private

    The wallet finds its notes by trial-decrypting every note locally, so nodes learn nothing about which are yours. By default it sends the pending unshield to the configured node for a gas estimate, which reveals the destination early.

    Advice: Read the chain from your own node, send through a public RPC over Tor, and use a popular broadcaster. If you settle for a VPN instead of Tor, pick one you trust: it hides your IP from the broadcaster but sees it itself.

    Compared with a public observer
    InsideAmountprivateAssetprivate
    Sources:Gas estimation with dummy proofBroadcaster decrypts request
    Link private

    There is no view key, so nobody can read past activity. The DAO can upgrade the contracts after a seven-day delay. The proof-of-innocence list provider can refuse to list a shield, leaving only a self-broadcast exit.

    Advice: Watch governance proposals. You have seven days to unshield before an upgrade takes effect. Be ready to self-broadcast if the list provider censors you.

    Compared with a public observer
    InsideAmountprivateAssetprivateLinkat risk
    Sources:Governance rolesPOI required listsPOI node interface
    Link at risk

    Notes are encrypted with elliptic-curve key exchange. A quantum computer decrypts every note sent to a 0zk address that was ever shared, including broadcaster fee notes: amounts, tokens and counterparties.

    Advice: Treat your 0zk address as a secret: share it privately, and use a fresh one per counterparty where you can.

    Compared with a public observer
    InsideSenderat riskRecipientat riskAmountat riskAssetat riskLinkat risk
    Sources:Shared key derivation (Ed25519 ECDH)AES-GCM note encryption
    Value Locked
    Anonymity sets

    30 day historic anonymity set

    How many unique addresses you could have blended in with if you withdrew on a particular day after depositing during the previous 30 days. This metric is a proxy for the historic anonymity set and shows how it developed over time.

    The metric looks backwards: it counts deposits that already happened, including from addresses that have since withdrawn. Your real anonymity also depends on deposits made after yours, which cannot be known in advance.

    Estimated anonymity set by holding duration

    An estimate of how many unique addresses you blend in with, depending on how long you leave your deposit in the pool. It is based on historic data of past deposits: each point counts depositors from the preceding period, so holding for up to 30 days effectively means blending in with everyone who deposited during the last 30 days.

    Flows
    Assets Breakdown
    Asset
    Deposits 7D
    Deposits 30D
    Deposits Total
    Value Locked
    WETHWETH
    450
    $3.18 M
    1.97 K
    $21.34 M
    43.55 K
    $1.51 B
    		$54.73 M
    USDCUSDC
    132
    $4.48 M
    541
    $13.95 M
    9.21 K
    $297.93 M
    		$16.76 M
    USDTUSDT
    291
    $4.54 M
    1.19 K
    $22.14 M
    11.16 K
    $383.30 M
    		$9.07 M
    DAIDAI
    16
    $84.99 K
    75
    $7.21 M
    2.15 K
    $196.25 M
    		$6.05 M
    NEARNEAR
    0
    $0.00
    0
    $0.00
    0
    $0.00
    		$3.88 M
    WBTCWBTC
    3
    $11.28 K
    14
    $74.97 K
    656
    $41.44 M
    		$2.53 M
    RAILRAIL
    3
    $162.88
    13
    $13.51 K
    331
    $3.69 M
    		$805.73 K
    FLUIDFLUID
    0
    $0.00
    0
    $0.00
    2
    $1.55 M
    		$219.39 K
    Total
    895
    $12.31 M
    3.81 K
    $64.74 M
    67.08 K
    $2.44 B
    		$94.07 M
    Risk summary

    Funds can be stolen if

    1. the zk proof system is broken, allowing invalid spends or withdrawals.
    2. the trusted setup is compromised or all ceremony participants collude, allowing invalid spends or withdrawals.
    3. the DAO passes a malicious upgrade and users do not react before the 7-day execution delay expires.

    Funds can be lost if

    1. a user loses the private keys required to control their private balance.

    Privacy can be lost if

    1. no broadcaster is available and transactions must be sent from a public address that can be linked to the user.
    Upgrades & Governance

    Railgun features an omnipotent DAO governed by the stakers of the RAIL token. The DAO has the authority to change ZK circuit logic on the core Railgun contract, which can arbitrarily change the rules for shielded tokens; as well as manage blacklisted tokens, mint RAIL tokens and manage governance rewards. See docs here: https://docs.railgun.org/wiki/rail-token/protocol-governance

    Governance profile

    Upgrades

    Normal upgrade path

    Create a proposal with an IPFS link and onchain calldata in the Voting contract → collect 500.00 K RAIL sponsorship within 1mo → wait 2d → cast Yay votes within 5d and Nay votes within 6d → pass with a simple majority and 2.00 M RAIL quorum → wait 7d → permissionless execution through the Delegator within 14d.

    Exit window

    7d — a passed proposal must wait this long before it can be executed, giving users time to unshield funds.

    Token governance

    Governance token

    RAIL 1 token = 1 vote, delegated. Total supply: 60.00 M RAIL, DAO-owned treasury (unavailable for voting): 2.30 M RAIL, staked for voting: 41.61 M RAIL, the rest is circulating supply.

    Stake lock

    Unstaking has 1mo delay.

    Voting venue

    Voting contract on Ethereum. Proposal text is distributed over IPFS, its CID is available as a parameter of createPropsal() call on the voting contract.

    Proposal threshold

    No threshold to create a proposal. A proposal must receive sponsorship from 500.00 K RAIL stake within 1mo.

    Quorum

    2.00 M RAIL, with a simple majority required for acceptance.

    Execution model

    Onchain calldata · Permissionless execution through the Delegator. A passed proposal waits 7d, after which anyone can execute it through the Delegator contract within 14d.

    Trusted setup

    Railgun

    Snarkjs

    Detailed description

    Circuit-specific Phase 2 trusted setup for Railgun’s 54 Groth16 circuits (parameterised by transaction input/output counts) over the BN254 curve. It builds on the Polygon zkEVM ceremony https://github.com/iden3/snarkjs/tree/master?tab=readme-ov-file as phase 1, which contains 55 participants.

    A separate Phase 2 ceremony was publicly announced, open to anonymous and identified participants, and wrapped up in late December 2022.

    Verified against the ceremony artifact IPFS hash QmWAySHYhaZqioKi1ufrPJC1n1ZVtHP2w4hLA9XqqJCFne: the /contributors directory contains 328 sequentially-numbered attestation files with GitHub or Twitter handles, and the /zkeys directory contains 54 final zkey files (one per circuit). Parsing the final zkey binary for the 1x1 circuit shows 304 Phase 2 contributions on that circuit.

    Verifier IDs
    Verifier
    Verification
    Used in
    Known deployments
    Railgun verifier
    by
    Railgun logo
    Verifier ID:Railgun 91 circuit verifier 03.07.2026
    Source:https://github.com/Railgun-Privacy/circuits-v2/tree/0aa2d13763a9fcfbb7b7ea9c02e004e71f1394bb/src/library
    Known deployments

    Deployment #1

    Address:0xFA70…A4b9
    Used in:
    Railgun logo
    Verification steps

    Railgun smart contract acts as a verifier for ZK proofs for all 91 Railgun circuits. 91 different verification keys for these circuits are stored onchain in the verifier smart contract. This regeneration attests that the verification keys stored onchain correspond to circuits published in Railgun repo.

    Generally, to regenerate all Railgun verification keys, the following has to be done:

    1. Checkout the main branch of the Railgun circuits-v2 repo (commit hash 0aa2d13763a9fcfbb7b7ea9c02e004e71f1394bb).
    2. Download Railgun trusted setup artifacts, which could be found at IPFS CID QmUsmnK4PFc7zDp2cmC4wBZxYLjNyRgWfs5GNcJJ2uLcpU or on L2BEAT trusted setup hosting. It contains the proving keys for all 91 circuits, which contain circuit information and Groth16 phase 2 trusted setup information.
    3. Build required version of circom and compile circuit sources into .r1cs binaries.
    4. Download the phase 1 trusted setup files and use it to verify that all published prover keys correspond to the compiled circuits. This step will implicitly check the integrity of phase 2 contributions.
    5. Generate all 91 verification keys from all prover keys, and make sure that it is identical to the ones in the onchain smart contract.

    Helper scripts that implement the flow above and more detailed explanations could be found in this script .zip archive. This .zip must be extracted in circuits-v2 dir checked out on commit 0aa2d13763a9fcfbb7b7ea9c02e004e71f1394bb before the execution.

    Updates
    2026 September 11, 11:11 UTC
    High severity
    2changes

    Both VerificationKeySetters were moved into SETTING state by their EOA owners, thus preventing the possibility of changing Railgun contract verification keys to an older version by a single EOA without DAO participation.

    Both VerificationKeySetters were moved into SETTING state by their EOA owners, thus preventing the possibility of changing Railgun contract verification keys to an older version by a single EOA without DAO participation.

    contract VerificationKeySetter_64DA (eth:0x64DA0892E8E24fECa6Eb5E3D8cbf2D9b6Fbe7598) [railgun/VKeySetter] {
    +++ description: Auxiliary verifier-key staging contract. Its owner stores replacement verification keys locally and, if Railgun governance switches the contract into COMMITTING state, can register the new keys in the Railgun smart wallet verifier.
    +++ description: Current workflow phase: SETTING, WAITING, or COMMITTING. Only COMMITTING allows the owner to forward staged verification keys to the verifier.
    +++ severity: HIGH
    values.state:
    - 2
    + 0
    }
    contract VerificationKeySetter_9086 (eth:0x9086aFC6FC88667d4031Cabd556AfDD0E3903B46) [railgun/VKeySetter] {
    +++ description: Auxiliary verifier-key staging contract. Its owner stores replacement verification keys locally and, if Railgun governance switches the contract into COMMITTING state, can register the new keys in the Railgun smart wallet verifier.
    +++ description: Current workflow phase: SETTING, WAITING, or COMMITTING. Only COMMITTING allows the owner to forward staged verification keys to the verifier.
    +++ severity: HIGH
    values.state:
    - 2
    + 0
    }
    2026 September 07, 15:06 UTC
    High severity
    1change

    Four new proposals (IDs 29-32) created 2026-09-06 by the same proposer (0x5964ed1e...), all byte-identical, so effectively one proposal submitted four times. Title: "Add USDC and USDT to AGR Rewards". Single action: Delegator calls addTokens([USDT, USDC]) on GovernorRewards, adding both stablecoins to the Active Governor Rewards distribution set (4.2% of Treasury balance per 2-week interval streamed to stakers). No other parameter changes. Only ID 32 has sponsorship (~90.7k of the 500k RAIL threshold), 29-31 have none. None has gone to vote or been executed. Proposal 28 (swap ~15.1k Treasury USDC to DAI via Curve 3pool, all DAI returned to Treasury) is still open with zero sponsorship. Governance UI: https://governance.railgun.org/proposals/v2/32 (proposal document on IPFS: bafkreia5rfx3x4phxl3tyscjc55eaac5sd7dnfjpsk4nywlgq55viy4e5e).

    Four new proposals (IDs 29-32) created 2026-09-06 by the same proposer (0x5964ed1e…), all byte-identical, so effectively one proposal submitted four times. Title: “Add USDC and USDT to AGR Rewards”. Single action: Delegator calls addTokens([USDT, USDC]) on GovernorRewards, adding both stablecoins to the Active Governor Rewards distribution set (4.2% of Treasury balance per 2-week interval streamed to stakers). No other parameter changes. Only ID 32 has sponsorship (~90.7k of the 500k RAIL threshold), 29-31 have none. None has gone to vote or been executed. Proposal 28 (swap ~15.1k Treasury USDC to DAI via Curve 3pool, all DAI returned to Treasury) is still open with zero sponsorship.

    Governance UI: https://governance.railgun.org/proposals/v2/32 (proposal document on IPFS: bafkreia5rfx3x4phxl3tyscjc55eaac5sd7dnfjpsk4nywlgq55viy4e5e).

    contract Voting (eth:0xc480F68A3dcC3EdD82134FAB45C14A0FcF1dA3CC) [railgun/Voting] {
    +++ description: Token-weighted Railgun governance contract. Proposals must be sponsored, voted through quorum, and then executed through the Delegator.
    +++ severity: HIGH
    values.proposalCount:
    - 29
    + 33
    }
    2026 September 01, 12:17 UTC
    High severity
    4changes

    Swap USDC to DAI proposal: https://tools.l2beat.com/decoder-new/?hash=0x83963ddea866aa6d77200fd5f6633d59aa6d4dc9a807496277f6910cc76a0369&data=AwA Actions: 1. Treasury → Delegator: 15109.211424 USDC 2. Delegator: USDC.approve(Curve3pool, 15109.211424) 3. Curve3pool: exchange USDC→DAI (min dy = 15031.466111962828487747 DAI, 0.5% slippage) 4. Delegator → Treasury: 15031.466111962828487747 DAI (floor) 5. Delegator → Treasury: 75.535005587752906974 DAI (expected bonus)

    Swap USDC to DAI proposal: https://tools.l2beat.com/decoder-new/?hash=0x83963ddea866aa6d77200fd5f6633d59aa6d4dc9a807496277f6910cc76a0369&data=AwA

    Actions:

    1. Treasury → Delegator: 15109.211424 USDC
    2. Delegator: USDC.approve(Curve3pool, 15109.211424)
    3. Curve3pool: exchange USDC→DAI (min_dy = 15031.466111962828487747 DAI, 0.5% slippage)
    4. Delegator → Treasury: 15031.466111962828487747 DAI (floor)
    5. Delegator → Treasury: 75.535005587752906974 DAI (expected bonus)
    EOA (eth:0x5a02474A3083Bc969f20F92E7a8bd3824EC607f0) {
    +++ description: None
    proxyType:
    - "EOA"
    + "EIP7702 EOA"
    sourceHashes:
    + ["0xd9649be084919b1ae25d4d396555667632253f10ddb6a9bddc939db45f797b10"]
    values:
    + {"$implementation":"eth:0x5A7FC11397E9a8AD41BF10bf13F22B0a63f96f6d","nonce":0}
    }
    contract Voting (eth:0xc480F68A3dcC3EdD82134FAB45C14A0FcF1dA3CC) [railgun/Voting] {
    +++ description: Token-weighted Railgun governance contract. Proposals must be sponsored, voted through quorum, and then executed through the Delegator.
    +++ severity: HIGH
    values.proposalCount:
    - 28
    + 29
    }
    2026 August 21, 11:18 UTC
    High severity
    1change

    New proposal on Railgun DAO: "Base deployment of RAILGUN Privacy System". Onchain execution of this proposal sends tasks to OPStackSender contract: https://tools.l2beat.com/decoder-new/?hash=0xfd5860b22fad6d5bf81cd4e9c809b2016ed08971b0fbf96aaf033fdbf87b52ec&data=AwA. These tasks initialize verification keys for all railgun circuits on the main Railgun contract on Base ( base:0x0047d1F97674614189E80566575FB615788AcF25 ). Railgun smart contracts on Base are already deployed, with bytecode matching the deployment on Ethereum. The proposal doesn't look malicious.

    New proposal on Railgun DAO: “Base deployment of RAILGUN Privacy System”.

    Onchain execution of this proposal sends tasks to OPStackSender contract: https://tools.l2beat.com/decoder-new/?hash=0xfd5860b22fad6d5bf81cd4e9c809b2016ed08971b0fbf96aaf033fdbf87b52ec&data=AwA. These tasks initialize verification keys for all railgun circuits on the main Railgun contract on Base (base:0x0047d1F97674614189E80566575FB615788AcF25).

    Railgun smart contracts on Base are already deployed, with bytecode matching the deployment on Ethereum.

    The proposal doesn’t look malicious.

    contract Voting (eth:0xc480F68A3dcC3EdD82134FAB45C14A0FcF1dA3CC) [railgun/Voting] {
    +++ description: Token-weighted Railgun governance contract. Proposals must be sponsored, voted through quorum, and then executed through the Delegator.
    +++ severity: HIGH
    values.proposalCount:
    - 27
    + 28
    }
    2026 August 19, 10:25 UTC
    High severity
    1change

    New railgun proposal created: https://tools.l2beat.com/decoder-new/?hash=0xb0f02fe28a805756fbd58c90a0704c26be69882460b1bd8885ca9fe93dd77718&data=AwA. It sweeps most tokens from railgun treasury (excluding WETH, RAIL which have most value) to 0xA4f2eA0a81179362558eBC1d2Bc817c9a0134ee3. Also triggers an action on arbitrum deployment. IPFS-published proposal description: "This proposal will gather tokens that are not part of the biweekly security staker rewards and use them to issue a research grant. The previous research funding ended earlier this year, so this would be a new and separate funding. All slightly significant tokens on Arbitrum will be collected. Most tokens not related to RAIL Security Rewards on Ethereum treasury will be collected.\n\nThe sum for this will be to fund the further development on the following (but not limited to): \n\n- RAILGUN-reloaded SDK, \n- RAILGUN v3,\n- Hardware Support \n- Post-Quantum Research \n- Multisig Support \n- and incentivise researchers and ecosystem.\n\nPlease do your own security review & vote YES to support this grant." Looks legit.

    New railgun proposal created: https://tools.l2beat.com/decoder-new/?hash=0xb0f02fe28a805756fbd58c90a0704c26be69882460b1bd8885ca9fe93dd77718&data=AwA. It sweeps most tokens from railgun treasury (excluding WETH, RAIL which have most value) to 0xA4f2eA0a81179362558eBC1d2Bc817c9a0134ee3. Also triggers an action on arbitrum deployment.

    IPFS-published proposal description: “This proposal will gather tokens that are not part of the biweekly security staker rewards and use them to issue a research grant. The previous research funding ended earlier this year, so this would be a new and separate funding. All slightly significant tokens on Arbitrum will be collected. Most tokens not related to RAIL Security Rewards on Ethereum treasury will be collected.\n\nThe sum for this will be to fund the further development on the following (but not limited to): \n\n- RAILGUN-reloaded SDK, \n- RAILGUN v3,\n- Hardware Support \n- Post-Quantum Research \n- Multisig Support \n- and incentivise researchers and ecosystem.\n\nPlease do your own security review & vote YES to support this grant.”

    Looks legit.

    contract Voting (eth:0xc480F68A3dcC3EdD82134FAB45C14A0FcF1dA3CC) [railgun/Voting] {
    +++ description: Token-weighted Railgun governance contract. Proposals must be sponsored, voted through quorum, and then executed through the Delegator.
    +++ severity: HIGH
    values.proposalCount:
    - 26
    + 27
    }
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    Ethereum

    Actors:

    Voting0xc480…A3CC

    Token-weighted Railgun governance contract. Proposals must be sponsored, voted through quorum, and then executed through the Delegator.

    • Can upgrade with no delay
      • GovernorRewards
      • LegacySweeper
      • Treasury
      • RailgunSmartWallet
    • Can interact with VerificationKeySetter_64DA
      • switch the VKeySetter into COMMITTING so its owner can push stored verification keys to the verifier
    • Can interact with VerificationKeySetter_9086
      • switch the VKeySetter into COMMITTING so its owner can push stored verification keys to the verifier
    • Can interact with GovernorRewards
      • add or remove allowed reward safety vectors
      • add or remove reward tokens from the distribution set
      • change the per-interval reward rate
      • pause, unpause, transfer proxy ownership, or upgrade the GovernorRewards implementation
    • Can interact with LegacySweeper
      • pause, unpause, transfer proxy ownership, or upgrade the legacy Sweeper implementation
    • Can interact with Delegator
      • grant or revoke delegated caller permissions and transfer ownership of the Delegator
    • Can interact with Rail Token
      • mint additional RAIL up to the hard cap and transfer token ownership
    • Can interact with Treasury
      • grant or revoke treasury roles, including who can move ETH and ERC20s out of the treasury
      • pause, unpause, transfer proxy ownership, or upgrade the treasury implementation
      • transfer ETH or ERC20s out of the treasury
    • Can interact with RailgunSmartWallet
      • add or remove allowed SNARK safety vectors
      • add or remove tokens from the shielding blocklist
      • change the shield, unshield, and NFT fee schedule
      • change the treasury that receives protocol fees
      • pause, unpause, transfer proxy ownership, or upgrade the Railgun smart wallet implementation
    EOA 10x76EB…4624
    • Can interact with VerificationKeySetter_9086
      • stage replacement verification keys and manage the helper’s local SETTING and WAITING states
    EOA 20xbbc2…a4e2
    • Can interact with VerificationKeySetter_64DA
      • stage replacement verification keys and manage the helper’s local SETTING and WAITING states
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    Ethereum

    Treasury0xE8A8…FF40Implementation (Upgradable)Admin

    Collects Railgun fees. Managed through access control roles.

    • Roles:
      • admin: ProxyAdmin; ultimately Voting
      • defaultAdminRoleMembers: Delegator; ultimately Voting
      • transferRoleMembers: Delegator, GovernorRewards, IntervalPayouts, LegacySweeper; ultimately Voting
    Can be upgraded by:
    Voting with no delay
    RailgunSmartWallet0xFA70…A4b9Implementation (Upgradable)Admin

    Main system contract and escrow that accepts shielded deposits, verifies private transactions and unshields, and maintains the commitment tree.

    • Roles:
      • admin: ProxyAdmin; ultimately Voting
      • owner: Delegator; ultimately Voting
    Can be upgraded by:
    Voting with no delay
    ProxyAdmin0x4F8E…65c8

    Admin interface for Railgun’s pausable upgradeable proxies. It does not hold funds, but its controller can operate every proxy attached to it.

    • Roles:
      • owner: Delegator
    VerificationKeySetter_64DA0x64DA…7598

    Auxiliary verifier-key staging contract. Its owner stores replacement verification keys locally and, if Railgun governance switches the contract into COMMITTING state, can register the new keys in the Railgun smart wallet verifier.

    • Roles:
      • delegator: Delegator; ultimately Voting
      • owner: EOA 2
    VerificationKeySetter_90860x9086…3B46

    Auxiliary verifier-key staging contract. Its owner stores replacement verification keys locally and, if Railgun governance switches the contract into COMMITTING state, can register the new keys in the Railgun smart wallet verifier.

    • Roles:
      • delegator: Delegator; ultimately Voting
      • owner: EOA 1
    GovernorRewards0xA027…c86fImplementation (Upgradable)Admin

    Reward distributor that pulls assets from the Railgun treasury and allocates them to stakers via token voting.

    • Roles:
      • admin: ProxyAdmin; ultimately Voting
      • owner: Delegator; ultimately Voting
    Can be upgraded by:
    Voting with no delay
    LegacySweeper0xa353…4686Implementation (Upgradable)Admin

    Older Railgun sweeper generation that still holds Treasury transfer rights. It is upgradeable and forwards balances to an immutable receiver.

    • Roles:
      • admin: Delegator; ultimately Voting
    Can be upgraded by:
    Voting with no delay
    Delegator0xB6d5…B53B

    Permission router proxy owned by Railgun governance.

    • Roles:
      • owner: Voting
      • verificationKeyDelegates: VerificationKeySetter_64DA, VerificationKeySetter_9086
    Rail Token0xe76C…A33D

    RAIL governance token contract with a capped (100,000,000 RAIL total supply) mint schedule and an early anti-bot transfer override.

    • Roles:
      • owner: Delegator; ultimately Voting
    Staking0xEE6A…Ee20

    RAIL staking contract that tracks delegated voting power, enforces a 1mo unstake delay, and snapshots staking balances for governance every 1d. Its parameters define the governance voting system.

    IntervalPayouts
    6 instances
    0x2990…CA110x7673…b10F0x859E…BA5D0xa863…30600xCA9A…dE9D0xf5F9…921A

    Immutable payout stream that can pull a fixed amount of a configured asset from the Railgun treasury to a fixed beneficiary whenever the next interval is due.

    RelayAdapt0xAc9f…D405

    Execution adapter contract for Railgun. To interact with public contracts from shielded pools, tokens are unshielded to RelayAdapter, which performs specified calls and shields tokens back to the same user.