How shield works

No exam required. This is the deposit / note / withdraw loop in plain language.

The short version

Shield = put money into Gloam’s vault.
Private send = pay someone while funds stay in the vault (share a payment tag).
Private trade = sell vault ETH for vault stock without a public DEX hop (size privacy on by default).
Cash out = take it back to your open wallet with a proof that you own it.

While it is in the vault, your normal wallet balance no longer shows that amount. The vault holds many people’s deposits together.

Where your money sits

Your wallet

Open

Anyone can see the balance if they know the address.

Gloam pool

Shielded

Money is in the shared vault. You hold a private note that proves it's yours.

After unshield

Open again

Exit is public on purpose, money leaves the vault back to a wallet.

Step by step

You start public

ETH or stock tokens sit in your wallet. Explorers can show that balance.

You shield

You send assets to the vault contract. A fingerprint of your deposit is written on-chain.

You keep a note

Your browser stores a secret linked to that deposit. Clear site data and you lose the local copy (the on-chain leaf remains).

You private-send, trade, or cash out

Private send splits a note into payment + change. Private trade swaps inside the vault. Cash out builds a proof and pays your open wallet.

1
You start public
ETH or stock tokens sit in your wallet. Explorers can show that balance.
2
You shield
You send assets to the vault contract. A fingerprint of your deposit is written on-chain.
3
You keep a note
Your browser stores a secret linked to that deposit. Clear site data and you lose the local copy (the on-chain leaf remains).
4
You private-send, trade, or cash out
Private send splits a note into payment + change. Private trade swaps inside the vault. Cash out builds a proof and pays your open wallet.

Visual path

How Gloam works

Wallet → shield → vault note → private send / trade → cash out only when you choose.

01 · Open balance
Your wallet
Normal wallet. Anyone who knows the address can see what it holds.
02 · Enter vault
Shield
You deposit into Gloam’s vault. A fingerprint of the deposit is written on-chain; the secret stays in your browser.
03 · Private claim
Vault note
Your browser holds the secret that proves the deposit is yours. Export a backup.
04 · Send · trade
Private rails
Private send and private trade settle in the vault. Size stays off the open book by default.
05 · Public exit
Cash out
You prove ownership and money returns to a wallet. Exit publishes amount on purpose.

Normal wallet. Anyone who knows the address can see what it holds.

You deposit into Gloam’s vault. A fingerprint of the deposit is written on-chain; the secret stays in your browser.

Your browser holds the secret that proves the deposit is yours. Export a backup.

Private send and private trade settle in the vault. Size stays off the open book by default.

You prove ownership and money returns to a wallet. Exit publishes amount on purpose.

What the public still sees

That someone used the Gloam contract
When money entered or left the vault (shield / cash out edges)
That a private transfer or private trade happened, not who paid whom how much (and not exact size when max size privacy is on)
Not (goal) your exact private bag while it stays inside

What we do not claim

Cash out is not invisible, leaving the vault is a public moment. Private send hides payment size and counterparty, not the fact that the vault was used. Private trade hides size (default min-out floor) but pair and caller remain public.

Try it: Shield → Move (private send) or Private trade → cash out only when you need the open wallet.