Why you can't build a private uniswap with ZKPs

[adlerjohn]

@Recmo

Exchange and hence DeFi is hard to do in an UTXO model

That’s completely incorrect. UTXOs are equivalent to accounts with strict access lists, and in fact that’s exactly what’s being done in Serenity. With covenants it’s trivial to define a UTXO that has no “owner.”