Odaily News Hibachi announced that it will launch a privacy-first decentralized exchange in collaboration with Celestia and Succinct. The platform is based on Celestia's modular data availability layer and uses the zero-knowledge proof infrastructure provided by Succinct to achieve on-chain privacy protection for transaction records, positions, and account balances. The platform solves the user privacy issues caused by the disclosure of on-chain transactions from the bottom up in terms of architecture, and achieves comprehensive encryption and hiding of transaction records, position information, and account balances.
Currently, Hibachi has launched the core perpetual contract trading function, and will gradually launch strategy vaults (the first release is an internal custody strategy), native lending markets, multi-asset collateral mechanisms, and spot trading functions in the future to meet users' risk management and asset allocation needs. Although the project has not yet made an official announcement on the token issuance, the market has expected that Hibachi may launch a native token, and the design will focus on trading activity and user participation.