SAN
FRANCISCO, July 8, 2024 /PRNewswire/ -- Hinkal, a
multi-chain privacy layer for confidential on-chain transactions,
today announced the upcoming launch of the Shared Privacy Protocol,
enabling cross-chain privacy via anonymity staking.
Institutional investors are entering crypto markets at a rapid pace and demanding the same
privacy in DeFi trading that they
have enjoyed in traditional equities markets. However, complete
privacy in DeFi trading requires a
large pool of "Shielded TVL" on each chain to properly mask
transactions, a nearly impossible task with over 200 Layer-1 and
Layer-2 blockchains across the industry. Despite growing demand,
liquidity fragmentation remained a major roadblock to institutional
adoption as the provision of this liquidity was not being
incentivized and, until now, privacy in DeFi was not scalable.
Hinkal addresses this market gap with the launch of shared
privacy infrastructure that establishes a unified pool of shielded
liquidity across all chains. While other privacy protocols are
focused on vertical privacy at the chain or dApp level, the Shared Privacy Protocol introduces
horizontal privacy integration whereby the Shielded TVL can be
mirrored across any chain (ex. Arbitrum or Solana), allowing traders and dApps across the entire blockchain ecosystem to leverage
the full value of the Shielded TVL pool.
With the introduction of Hinkal's Shared Privacy Protocol users
can now bootstrap Shielded TVL in a similar method to how
EigenLayer enabled projects to bootstrap security. By rewarding
stakers with assets and yield, the Shared Privacy Protocol engages
the DeFi community to build the
future of privacy for the entire ecosystem. This approach mirrors
the secure standards of traditional finance and allows both
individual and institutional users to manage assets and transact on
major decentralized applications
(dApps) without publicly disclosing
wallet addresses.
Georgi Koreli, co-founder and CEO of Hinkal, commented on the
news, "Ensuring complete privacy on-chain is a critical step in
enabling the full adoption of crypto
as an asset class across the institutional financial sector. The
Hinkal Protocol has already seen rapid adoption across our
institutional network and the launch of the Shared Privacy Protocol
is a key milestone in unleashing the power of community and
breaking privacy barriers in crypto.
We look forward to continuing to maximize discreteness for the
community from native users to new market participants."
Benefits of the Shared Privacy Protocol include:
- Stakers can deploy native and staked assets to the protocol,
generating additional yield while maintaining the flexibility to
trade yield tokens on other dApps
- Traders benefit from the expanded Shielded pool, further
obfuscating their trading strategies and maximizing deployed
capital across multiple chains
- Developers of decentralized
exchanges and dApps can now
seamlessly integrate Hinkal's Shared Privacy Protocol directly into
their platforms, granting new privacy capabilities to their
users
Evgeny Gokhberg, founder of Re7
Capital, an investor in Hinkal, continued, "A compliant solution
enabling discrete liquidations without disclosing transaction data
is necessary for us to efficiently operate in DeFi markets and Hinkal's Shared Privacy Protocol is the
solution we have been searching for a long time. We are proud to be
a member of the Hinkal network and will be deploying additional
strategies leveraging this new protocol in the near future."
Hinkal is supported by an expansive network of institutional
trading firms and funds that are already leveraging the Hinkal
protocol to execute their discreet trading strategies. Additional
information on the Shared Privacy Protocol and how to participate
can be found on the Hinkal website.
About Hinkal
Founded by Stanford grad Giorgi Koreli and his Ph.D. brother,
Nika Koreli, Hinkal is an institutional-grade protocol designed to
provide users with full control over their on-chain assets. The
Hinkal protocol enables privacy of transactions and assets across
core DeFi apps and functions,
including trading, farming, staking, and lending through the use of
stealth addresses and with high degree of compliance.
Hinkal is a ZK-based solution that provides a private smart
contract wallet experience, allowing users to participate in their
favorite dApps directly from their
private addresses without the need to withdraw assets for
obfuscation.
Media Contact: hinkalpr@mgroupsc.com
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SOURCE Hinkal