Peer (ex-ZKP2P) is an open-source protocol that enables peer-to-peer fiat-to-crypto swaps by proving fiat payments were completed on instant payment rails (Venmo, Revolut, and others). V3 uses a modular verification architecture: a TEE attestation service validates zk-TLS proofs offchain and emits EIP-712 payment attestations, which a Unified Payment Verifier contract checks onchain before releasing escrowed crypto.
Peer (ex-ZKP2P) - Peer-to-peer fiat onramp using zk-TLS and TEE attestations
Institutional settlement systems with formal clearing
Fiat custody or banking-as-a-service
Architecture
Modular contract design (V3): Separated into an Escrow Contract (deposit configuration, fund locking) and an Orchestrator Contract (intent lifecycle, fee distribution, post-settlement hooks). Liquidity providers can update rates, currencies, and payment methods without creating new vaults.
TEE attestation service: V3 moves proof verification offchain to a TEE attestation service (e.g. Phala) that validates zk-TLS proofs and emits standardized EIP-712 payment attestations. Rotating attestors and onchain membership checks distribute trust across multiple operators.
Unified Payment Verifier: A single onchain verifier checks EIP-712 signatures, amounts, and replay protection.
Vendor-agnostic verification: Supports multiple zk-TLS backends (TLSNotary, Primus, ZKEmail) as part of a progressive decentralization roadmap.
Orderbook model: Liquidity providers post onchain orders specifying accepted payment rails, exchange rates, and limits. Takers browse and select orders.
Enterprise demand and use cases
Retail onramping: Users in markets with instant payment rails (Brazil/PIX, India/UPI, US/Venmo) can onramp to stablecoins without centralized exchanges.
Emerging market access: Enables fiat-to-crypto conversion where centralized exchange infrastructure is limited.
Permissionless liquidity: Anyone can become a liquidity provider by depositing crypto into the escrow contract.
Technical details
Proof system: Vendor-agnostic — supports TLSNotary, Primus, and ZKEmail as proof backends. TEE attestation service validates proofs and produces EIP-712 attestations.
Supported rails: Venmo, Revolut, and additional payment providers supported via the V3 unified verification architecture.
Settlement chain: Ethereum and L2s.
Client-side: Browser extension handles TLS session co-signing and proof generation.
No custodial intermediary — settlement is peer-to-peer with onchain escrow
Payment privacy preserved — zero-knowledge proofs reveal necessary payment attributes without exposing full account details
Extensible to payment rails with TLS-accessible confirmation endpoints
Permissionless participation for both liquidity providers and takers
CROPS profile
Product
CR
OS
Privacy
Security
Context
Peer
medium
yes
partial
medium
i2u
CR: Medium — onchain escrow is permissionless, but Notary availability and payment rail access can vary by geography.
OS: Yes — protocol, contracts, and client code are open source under MIT license (zkp2p-contracts).
Privacy: Partial — payment proofs hide full account details, but onchain escrow transactions are visible. Amounts and participant addresses are public unless combined with shielding.
Security: Medium — security depends on TEE attestation service integrity, underlying zk-TLS trust model, escrow contract correctness, and payment rail API stability.
Risks and open questions
TEE trust: V3 relies on TEE attestation services for offchain proof verification. TEE hardware vulnerabilities (side-channel attacks, firmware exploits) could compromise attestation integrity.
Attestor centralization: Although rotating attestors distribute trust, the attestor set must be managed — a compromised or colluding majority could produce false attestations.
Notary trust: Underlying zk-TLS still requires a trusted Notary to co-sign TLS sessions. Malicious or compromised Notary can forge proofs or deny service.
Payment rail stability: Changes to payment provider APIs or TLS configurations can break proof generation.
Regulatory uncertainty: P2P fiat-to-crypto onramps may face regulatory scrutiny depending on jurisdiction.
Post-quantum exposure: Inherits zk-TLS vulnerability to CRQC via ECDH-based MPC/2PC. See Post-Quantum Threats.