Master Account

The Master Account serves as the single source of truth for:

• Asset custody: Holds all deposited funds in the shielded pool
• Commitment tree: Maintains the Merkle tree of all note commitments
• Proof verification: Validates zk-SNARK proofs for operations
• Operation execution: Processes user actions via App Accounts

Core Functions

1. Deposit Assets

Entry point: depositAssets(Deposit[] calldata deposits)

Who calls this: The Deposit Manager (after screening is complete)

What happens:

1. Validates each deposit
2. Transfers assets from Deposit Manager to Master Account
3. Computes note commitments:

$$\text{Posiedon}(\text{asset}, \text{amount}, \text{owner}, \text{nonce})$$

4. Inserts commitments into the Merkle tree

2. Transact (Bundle Processing)

Entry point: transact(Operation[] calldata ops)

Who calls this: Bundlers (permissionless actors submitting batches)

What happens:

Phase 1: Validation

For each operation in the bundle:

1. Check that nullifiers haven't been spent
2. Ensure stealth addresses or tokens aren't blacklisted

Phase 2: Proof Extraction and Verification

1. Extract zk-SNARK proofs and public inputs from all operations
2. Verify proofs through Verifier contract

• If verification fails: Entire bundle reverts (no partial execution).

Phase 3: Execution

For each operation:

• Process JoinSplits
  • Consume input notes
  • Create output notes
  • Transfer assets to app accounts (if net difference ≠ 0)
• Send funds to Executor
  • Execute user-defined actions via the delegated AppAccount