The Bisq DAO is a core component of Bisq, a decentralized cryptocurrency exchange. The purpose of the Bisq DAO is to decentralize the governance and finance functions of the exchange. However, by interacting with the Bisq DAO, participants necessarily publish data to the Bitcoin blockchain and broadcast additional data to the Bisq peer-to-peer network. We examine the privacy cost to participants in sharing this data. Specifically, we use a novel address clustering heuristic to construct the one-to-many mappings from participants to addresses on the Bitcoin blockchain and augment the address clusters with data stored within the Bisq peer-to-peer network. We show that this technique aggregates activity performed by each participant: trading, voting, transfers, etc. We identify instances where participants are operating under multiple aliases, some of which are real-world names. We identify the dominant transactors and their role in a two-sided market. We conclude with suggestions to better protect the privacy of participants in the future.

中文翻译：

---

Bisq DAO：关于参与的隐私成本

Bisq DAO 是去中心化加密货币交易所 Bisq 的核心组件。Bisq DAO 的目的是分散交易所的治理和财务职能。然而，通过与 Bisq DAO 交互，参与者必须将数据发布到比特币区块链并将额外的数据广播到 Bisq 对等网络。我们研究了参与者共享这些数据的隐私成本。具体来说，我们使用一种新颖的地址聚类启发式方法来构建从参与者到比特币区块链上地址的一对多映射，并使用存储在 Bisq 对等网络中的数据来扩充地址集群。我们展示了该技术汇总了每个参与者执行的活动：交易、投票、转移等。我们确定了参与者以多个别名进行操作的实例，其中一些是真实世界的名字。我们确定了主要交易者及其在双边市场中的作用。最后，我们提出了一些建议，以在未来更好地保护参与者的隐私。