$SPAY is the utility token that powers the ShadowPay ecosystem. It aligns incentives between users seeking privacy and the infrastructure providers—relayers—who enable it.
The Relayer Network
In ShadowPay, users never submit transactions directly to the blockchain. Doing so would reveal their IP address and potentially link them to the transaction.
Instead, Relayers act as intermediaries:
- They submit on-chain transactions.
- They pay gas fees in the native chain token (e.g., ETH).
- They execute proof-verified contract calls.
Relayers cannot identify the user, link transactions, or infer balances. They simply execute valid proofs.
$SPAY Utility
The $SPAY token is used to coordinate this network:
- Relayer Incentives: Relayers are compensated in $SPAY for processing private transactions. This ensures a robust market of privacy providers.
- Protocol Fees: Certain high-value or complex operations may require fees paid in $SPAY.
- Governance Signaling: $SPAY holders participate in non-custodial governance, signaling on parameters like fee structures, relayer standards, and compliance policy updates.
Non-Financial Role
It is important to note that $SPAY does not represent ownership of user funds in the shielded pools, nor does it grant claims on protocol revenue or equity. It is a strictly functional utility token designed to decentralize the privacy infrastructure.
