Off Ramp

Cloaked integrates Peer to let you sell crypto for fiat through a peer-to-peer escrow flow. Peer is operated by P2P Labs Inc. and provides an app and interface for accessing a peer-to-peer escrow protocol. Your crypto is deposited into an onchain escrow, a matched buyer sends fiat to your payment handle, and the escrow releases the crypto once the payment is proven.

The buyer never receives custody of your crypto before payment, and Cloaked does not custody your funds. Cloaked coordinates the quote, routing, signatures, and onchain submission so you can cash out from visible balances or from your incognito balance.

How It Works

Choose payment details — Select a supported payment method and enter the fiat destination details required by Peer.
Preview the cash out — Enter the asset and amount you want to sell. Cloaked estimates the fiat amount, route, network costs, and service fee.
Confirm — Sign with your passkey or wallet. Cloaked submits the transaction that moves the selected crypto into the Peer escrow.
Settlement — A buyer sends fiat through the selected payment method. Once the payment is proven, the escrowed crypto is released to the buyer.

Routes

Cloaked automatically chooses the simplest route for the funds you want to sell.

Route	When it applies	What happens
Direct	USDC on Base	Funds are deposited directly into the Peer escrow.
Swap	Non-USDC token on Base	Cloaked swaps the token into USDC, then deposits USDC into escrow.
Bridge	Funds on another supported chain	Cloaked bridges or swaps the funds to USDC on Base before escrow deposit.
Incognito withdrawal	Privacy pool balance	Cloaked withdraws from your incognito balance, bridges to Base if needed, then deposits into escrow.

The escrow currently settles in USDC on Base. If your source funds are on another chain or in another token, the quote includes the required swap or bridge steps.

Payment Details

Cloaked uses Peer to access a peer-to-peer escrow flow with payment proof and verification. Supported fiat destinations depend on Peer availability, buyer activity, and selected payment methods, and may include payment methods such as Venmo, Revolut, Wise, PayPal, Zelle, or Cash App.

Cloaked stores a hashed reference to your payment details for the cash-out flow. Raw payment details are handled through the Peer integration rather than stored as plain text by Cloaked, and may be processed by Peer or made available as needed for buyers to complete payment. Peer's Privacy Policy and Terms of Service apply to Peer's handling of the off-ramp flow.

Statuses

After you confirm a cash out, the order can move through several statuses:

Pending — Cloaked is waiting for the escrow deposit transaction to confirm.
Awaiting fill — The escrow deposit is open and waiting for a buyer.
Filling — A buyer has locked the order and is completing fiat payment.
Completed — The order was filled and the fiat payment was sent.
Recoverable — Funds from a canceled or expired order can be claimed back.
Cancelled or failed — The order closed without completing.

Partially filled orders can happen when only part of the escrow amount is matched. In that case, the filled portion settles normally and the remaining amount can be canceled or recovered when it becomes available.

Cancels and Recovery

You can cancel an open cash out before it completes. If no buyer has locked funds, cancellation can return the remaining escrowed crypto quickly. If a buyer has already locked an order, those funds may need to wait until the buyer's payment window expires before they become recoverable.

Cloaked tracks this state and shows when recovery is available. Recovery sends claimable funds back to your Cloaked balance.

Fees

Network fee — Gas and routing costs for swaps, bridges, escrow deposits, cancellations, or recovery transactions.
Cloaked fee — A service fee shown in the quote before you confirm.
Route costs — Swap slippage or bridge costs may apply depending on the route.

All applicable fees and estimated proceeds are disclosed before transaction execution.

Trust Model

Off ramping involves three distinct systems:

Cloaked coordinates account selection, routing, transaction construction, and relay submission. Cloaked cannot move funds without your authorization.
Peer provides the app and interface for accessing the peer-to-peer escrow protocol, including payment proof and verification flows.
The buyer sends fiat through the selected payment method.

When cashing out from an incognito balance, the privacy pool still breaks the public onchain link between your original deposit and withdrawal. However, as with other managed privacy pool actions, Cloaked's relay service can observe the relationship because it coordinates the transaction.