Chameleon
Privacy model
Chameleon unlinks your holdings from your main wallet. This page says exactly what that means, who it protects you from, and where the protection ends.
What an observer can see
For every buy that goes through the router, two events exist on chain:
CurveBuy buyer = router address recipient = A (one-time address)
Announcement caller = router address stealth address = A ephemeral key R view tagA and R are different for every buy. Nothing in these events names you.
Who it protects you from
| Observer | What they can do | Verdict |
|---|---|---|
| A casual explorer reader | Sees a router buying and an unknown address receiving. | Cannot tell who you are. |
| A copy-trade bot that mirrors buys made by a watched wallet | Never sees your main wallet buy: the buyer is the router. | Does not copy you. |
| A tool that groups addresses by shared holdings | Your buys land on unrelated addresses. | Holdings are not grouped. |
| Someone who learns one of your stealth addresses | Sees that one buy and what that address does next. | Learns nothing about your other buys. |
| The router operator | There is none. The router has no owner and no keys. | Nothing to trust. |
Where it stops
| Observer | What they can do |
|---|---|
| Anyone reading the sender of the router transaction | The wallet that calls the router is visible. If it is the wallet people watch, the link is there. Use a one-time funder. |
| Cluster analysis on funding | If you top up the one-time funder from your main wallet with a plain transfer, a determined analyst can follow that single transfer. |
| Anyone matching amounts and timing | A buy of 0.31 ETH followed within seconds by an announcement is a hint. Vary amounts and timing if it matters. |
| Anyone watching where proceeds go | If a stealth address sells and sends the ETH to your main wallet, that sell is now linked to you. Send proceeds to a fresh address. |
| Anyone holding your viewing key | Sees all your buys. It cannot spend, but it can read. Share it only with a scanner you trust. |
Anonymity set
The set of people hidden among is everyone who uses the router. Today that is small. Privacy grows with use, and honest numbers will be published as they exist. The ERC-5564 announcer on this chain currently carries almost no announcements, so early users stand out more than later ones will.
What the protocol cannot do
- It cannot hide that you used Chameleon at all, because the router and the announcer are public.
- It cannot hide the token or the amount of a buy. Those are public on any launchpad.
- It cannot protect keys. Lose the spending key and the funds on your stealth addresses are gone. Leak it and anyone can take them.
CarefulDo not treat Chameleon as a mixer. It breaks the link between your holdings and your identity on chain. It does not break every link between your wallets.
Good habits
- Call the router from a wallet created for that purpose, funded shortly before use.
- Use a different one-time funder now and then.
- Send proceeds to fresh addresses, not to a wallet you have used publicly.
- Keep the viewing key private unless you hand it to a scanner on purpose.