Decentralized Protocol Hinkal Launches Revolutionary ‘Eigenlayer for Privacy’
Hinkal Protocol, a groundbreaking multi-chain privacy layer for confidential on-chain transactions, has introduced the Shared Privacy Protocol, which revolutionizes cross-chain privacy through anonymous staking.
During the EthCC 7 event, Hinkal announced the launch of its privacy protocol, highlighting numerous advantages. With the Shared Privacy Protocol, stakers can now deploy native and staked assets to the protocol, generating additional yield while having the flexibility to trade yield tokens on other decentralized applications (dApps).
This protocol enables traders to leverage the expanded Shielded pool, further concealing their trading strategies and optimizing deployed capital across multiple chains.
Excitingly, developers of decentralized exchanges and dApps can seamlessly integrate Hinkal’s Shared Privacy Protocol into their platforms, empowering their users with enhanced privacy capabilities.
Georgi Koreli, co-founder and CEO of Hinkal, stated, “Ensuring complete privacy on-chain is a crucial step in facilitating the widespread adoption of cryptocurrencies as an asset class within the institutional financial sector.”
Koreli added, “The Hinkal Protocol has already experienced rapid adoption within our institutional network, and the launch of the Shared Privacy Protocol marks a significant milestone in harnessing the power of community and eliminating privacy barriers in the crypto space.”
Institutional Investors Demand Privacy in DeFi
Hinkal Protocol recognizes that as more institutional investors enter the crypto market, they expect the same level of privacy in decentralized finance (DeFi) trading that they have enjoyed in traditional equities markets.
However, achieving complete privacy in DeFi trading necessitates a substantial pool of “Shielded TVL” on each blockchain to effectively mask transactions. Given the industry’s vast landscape of over 200 Layer-1 and Layer-2 blockchains, this task is challenging.
Liquidity fragmentation has been a major obstacle to institutional adoption, as providing this liquidity lacked proper incentives and, until now, privacy in DeFi was not scalable, according to the Hinkal team.
Evgeny Gokhberg, founder of Re7 Capital and an investor in Hinkal, expressed the need for a compliant solution that enables discrete liquidations without disclosing transaction data. Gokhberg believes that Hinkal’s Shared Privacy Protocol is the solution they have been searching for.
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