Highlights:
- Hinkal’s Shared Privacy Protocol enables cross-chain privacy and anonymous staking for DeFi
- Institutional investors gain enhanced privacy and unified shielded liquidity across chains.
- The protocol supports seamless integration, improving trading strategies and capital deployment.
Hinkal, a multi-chain privacy layer for confidential on-chain transactions, has launched the Shared Privacy Protocol. This new protocol aims to enable cross-chain privacy through anonymity staking. The announcement was made at EthCC 7, where Hinkal highlighted the benefits and capabilities of their innovative protocol.
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Hinkal announces ‘EigenLayer for Privacy’ with the upcoming launch of the Shared Privacy Protocol https://t.co/LtxsUhc1N3 #2024Trends #blockchain #banking #futuretechnology #financetechnology
— Global FinTech Series (@FinTech_Series) July 8, 2024
Hinkal Enhances DeFi with Cross-Chain Privacy Integration
The Shared Privacy Protocol allows stakers to deploy native and staked assets to the protocol. Consequently, this generates additional yield while maintaining the flexibility to trade yield tokens on other decentralized applications (dApps). Institutional investors are entering the crypto markets rapidly and demand 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. This task has been challenging, with over 200 Layer-1 and Layer-2 networks across the industry.
Hinkal’s Shared Privacy Protocol effectively addresses market gaps by establishing a unified pool of shielded liquidity across all chains. Conversely, unlike other protocols focusing on vertical privacy, Hinkal’s approach is more comprehensive. Hinkal introduces horizontal privacy integration, allowing the Shielded TVL to be mirrored across chains like Arbitrum or Solana.
This enables traders and dApps to leverage the total value of the Shielded TVL pool, thereby enhancing trading strategies and maximizing capital deployment. Moreover, developers can seamlessly integrate this protocol into their platforms, providing new privacy capabilities to users.
Hinkal’s Privacy Protocol Meets Rising Demand in DeFi
The demand for privacy in DeFi trading is growing, especially among institutional investors. Georgi Koreli, co-founder and CEO of Hinkal, emphasized the importance of on-chain privacy.
“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,” Koreli said. He added that the Hinkal Protocol has already seen rapid adoption across its institutional network. Launching the Shared Privacy Protocol is a critical milestone in breaking privacy barriers in crypto.
Evgeny Gokhberg, founder of Re7 Capital and an investor in Hinkal, highlighted the protocol’s practical benefits. “A compliant solution enabling discrete liquidations without disclosing transaction data is necessary for us to operate efficiently. Hinkal’s Shared Privacy Protocol is the solution we have been searching for a long time,” Gokhberg said.
Hinkal’s Shared Privacy Protocol effectively addresses the major hurdle of liquidity fragmentation in DeFi. Establishing a unified pool of shielded liquidity across all chains enables seamless integration and, consequently, better liquidity management. This scalability makes DeFi trading more accessible for institutional investors. More details on the Shared Privacy Protocol and participation can be found on the Hinkal website.
Hinkal’s Protocol Revolutionizes Privacy Across DeFi Platforms
As the DeFi market grows, the need for scalable privacy solutions becomes more pressing. Consequently, Hinkal’s Shared Privacy Protocol offers a promising solution. By enabling cross-chain privacy and creating a unified pool of shielded liquidity, Hinkal sets the standard for privacy in the crypto space.
The launch of Hinkal’s Shared Privacy Protocol marks an essential advancement in DeFi privacy. Importantly, with its ability to provide cross-chain privacy through anonymous staking and a unified pool of shielded liquidity, the protocol effectively addresses key challenges institutional investors face. Moreover, Hinkal’s protocol is well-positioned to meet this demand and support the broader adoption of DeFi by institutional players.
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