We live in a world where data is a given, but also a key asset for people and companies. Data is useful for many purposes and can lead to new inventions and progress. However, we must distinguish between what is publicly accessible data and what is not. Your data belongs to you and should not become the property of others, including how you transact assets online.
Sienna is on a mission to protect your privacy. Not only do we protect your privacy by default - we also do not have access to any information about you. All we do is help you use the privacy preserving blockchain in a user-friendly way and we do so without access to your data which actually never passes us due to the blockchain’s inherent privacy design. We save no login information, no wallet data, no transaction data or anything else. We do not even track our website or give any information to any Third Party.
For money to function properly, it must be private.
Sienna is built on Secret Network, which is the first blockchain with privacy-preserving smart contracts. This means no one can see your wallet balance, all transactions are completely private and allows you to build privacy-first applications on top of it, which is exactly what we have done at Sienna.
Native privacy not only gives you the comfort of not being monitored, but it also prevents front-running.
Front-running is the phenomenon where future trades can be seen by everyone prior to execution. Execution priority on ie. Ethereum is driven by transaction fees. A transaction can be preempted by simply introducing a transaction and paying a higher transaction fee. This is known as front-running and is illegal in the regulated financial system for good reasons.
Sienna's AMM (a privacy-first decentralized exchange) is inherently front-running-resistant due to its private nature. No one can follow or exploit your positions.