ETH.sh

Privacy Protocols

Fee-first comparison of Ethereum privacy tools. Gas and relayer quotes can change by chain and wallet.

Best: 0% / no extra fee
Low fixed fee / known check
Variable / capped / limited

Protocol

Chains / Assets

Deposit

Withdraw

In-pool transfer

Wait / approval

Tornado Cash

Tornado Cash DAO / immutable contracts

Ethereum, Arbitrum +5

ETH, DAI, cDAI +7

0%

Gas or relayer quote

Nova only: gas / relay

No wait

RAILGUN

RAILGUN DAO ecosystem

Ethereum, Arbitrum +2

Most ERC-20 tokens, ERC-721 NFTs, wrapped base assets

0.25%

0.25% + relay

0% protocol

POI check: 1 hour

Privacy Pools V1

0xbow

Ethereum, Optimism +2

ETH, USDC, USDT +12

0% or 0.5%

0% direct relay cap 5-10%

Not supported

ASP approval

Privacy Pools V2

Public testnet

0xbow

Sepolia

ETH, USDC, USDT

0%

Relayer quote

Relayer quote

ASP approval + registration

Veil Cash

Veil Cash

Base

ETH, USDC

0.3%

0% extra fee

0% extra fee

Instant or KYT: ~15m

Tornado Cash

Tornado Cash DAO / immutable contracts

Ethereum, Arbitrum +5

ETH, DAI, cDAI, USDC +6

Deposit

0%

Withdraw

Gas or relayer quote

Transfer

Nova only: gas / relay

Wait

No wait

RAILGUN

RAILGUN DAO ecosystem

Ethereum, Arbitrum +2

Most ERC-20 tokens, ERC-721 NFTs, wrapped base assets

Deposit

0.25%

Withdraw

0.25% + relay

Transfer

0% protocol

Wait

POI check: 1 hour

Privacy Pools V1

0xbow

Ethereum, Optimism +2

ETH, USDC, USDT, DAI +11

Deposit

0% or 0.5%

Withdraw

0% direct relay cap 5-10%

Transfer

Not supported

Wait

ASP approval

Privacy Pools V2

Public testnet

0xbow

Sepolia

ETH, USDC, USDT

Deposit

0%

Withdraw

Relayer quote

Transfer

Relayer quote

Wait

ASP approval + registration

Veil Cash

Veil Cash

Base

ETH, USDC

Deposit

0.3%

Withdraw

0% extra fee

Transfer

0% extra fee

Wait

Instant or KYT: ~15m

Gas is separate unless notedRelayer quotes can varyPrivacy Pools V2 is Sepolia only

Details and sources

Expanded notes stay here so the table remains the primary view.

Privacy Pools V1

0xbow

Compliance-screened private withdrawals from approved deposits across supported mainnet pools.

Networks

Ethereum, Optimism, BNB Chain, Arbitrum

Assets

ETH, USDC, USDT, DAI, WBTC, BNB, USDS, sUSDS, wstETH, USDe, USD1, BOLD, yUSND, BSCUSD, other listed assets

Amount model

Asset-specific pools across Ethereum, Optimism, BNB Chain, and Arbitrum with arbitrary partial or full withdrawals.

Deposit fee

Asset-dependent vetting fee. L2BEAT currently lists 0% for several assets, including DAI, USD1, USDT, WBTC, wstETH, USDS, sUSDS, USDe, frxUSD, fxUSD, and wOETH; 0.5% for ETH, USDC, and BOLD. 0xbow terms describe 0.5% as the default vetting fee and note it may change.

Withdraw fee

Direct withdrawals have no protocol relayer fee. Relayed withdrawal fees are selected by relayers and capped per asset at 5% or 10%.

Transfer fee

No general private P2P transfer mode in V1; users withdraw, partially withdraw, or ragequit.

Wait / approval

Deposits must be approved into the Association Set before private withdrawal. Privacy Pools docs do not publish a fixed approval timeframe. Excluded deposits can publicly ragequit.

Transfer model

Private withdrawal from an approved commitment to a public recipient, optionally through a relayer.

Privacy model

Only ASP-approved deposits join the anonymity set; withdrawals prove inclusion without revealing the matching deposit.

Cryptography

Circom / Groth16 circuits, Poseidon commitments, LeanIMT Merkle proofs, nullifiers, and onchain verifiers.

Screening / compliance

Association Set Provider whitelists approved deposit labels and can remove deposits from the private withdrawal set.

Custody

Non-custodial commitments. Ragequit preserves recovery but publicly links the original deposit and exit.

User caveat

The ASP and multisig are part of the trust model; a deposit can be excluded from private withdrawal and forced into public recovery.

Sources

Privacy Pools V2

Public testnet

0xbow

Testing 0xbow's passkey-secured V2 wallet, private transfers, and payment requests on Sepolia.

Networks

Sepolia

Assets

ETH, USDC, USDT

Amount model

Arbitrary Sepolia testnet deposits into ETH, USDC, or USDT shielded notes.

Deposit fee

0% app-listed deposit fee.

Withdraw fee

Relayer-quoted cost through the V2 app; no fixed protocol percentage is published for the testnet.

Transfer fee

Private in-pool transfers are supported and use a relayer quote; no fixed protocol percentage is published.

Wait / approval

Deposits need ASP approval before private actions; no fixed approval timeframe is published for the V2 testnet. Wallets also need a one-time onchain registration before receiving encrypted notes.

Transfer model

Private transfers and payment requests move shielded notes inside the pool; recipients can import or discover received notes.

Privacy model

Shielded notes are held locally and spent with proofs; relayers submit transfer or withdrawal transactions without exposing the user wallet as sender.

Cryptography

Groth16 zero-knowledge proofs, Poseidon commitments, Merkle / ASP proofs, nullifiers, and registered viewing keys.

Screening / compliance

The V2 app identifies 0xbow ASP as its compliance provider; approved labels are required before private withdrawal or transfer.

Custody

Non-custodial testnet notes secured by local wallet / passkey flows. Losing local keys or backups can strand shielded testnet funds.

User caveat

Use Sepolia assets only. The visible app relayer is 0xBow Relayer and quoted fees can change with gas and relayer settings.

Sources

External Dashboards

Live ecosystem views for privacy flows, balances, and adoption.

Private Transfers Analysis

Private Transfers Analysis

private-transfers.pse.dev

PSE dashboard for comparing private transfer systems, fees, constraints, and implementation tradeoffs.

Privacy - L2BEAT

l2beat.com

Track live balances and daily privacy flows across tracked privacy protocols.

shhheth · every ETH that ever went private

shhheth.com

shhh. The quiet index for shielded ETH on Ethereum. Cumulative, not TVL. Goes up only.

ETH.sh

ETH.sh is a comprehensive suite of tools for Ethereum developers and users, designed to simplify blockchain interactions & making the EVM human-friendly.

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