Andrey discusses Incognito with Monero Space
Channel: Monero Space
Date: 2020-10-03

Andrey, the Project Lead at Incognito, explains some basics about Incognito transactions, their DEX, their coin distribution, their network security, and their goals of decentralization.


Here is the direct response I received from Andrey about how funds are stored (corrected only for spelling; otherwise it's a direct quote):


Basically there is two types of addresses, temp address and custodian one. 

Temp address generates each time user deposits into the incognito. 
Once XMR received it’s transferred to the custodian wallet. 

Access to the temp address has a bridge engineer and backend server which signs the transfer from temp to custodian address. 

Access to the custodian wallet has only founder and backed server which signs withdrawal requests. All withdrawals executes from the custodian wallet. 

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Currently on the network ≈ 2.7k XMR. The company insurance fund can cover up to 20k XMR. Scaling beyond this number will be possible only after implementation trust-less set up.