In the world of cryptocurrencies and Decentralized Finance (DeFi), privacy has long been a critical concern, with COTI’s cutting-edge confidentiality layer now poised to revolutionize the trading experience on PriveX, a decentralized exchange focusing on intent-based perpetuals trading.
In a recent development, the lightweight and swift Confidentiality Layer on Ethereum, COTI, has forged an alliance with PriveX, a Decentralized Exchange (DEX), which specializes in intent-driven perpetual trading
Through this partnership, we strive to offer traders a safe and private trading environment by seamlessly incorporating COTI’s privacy tech into the PriveX system
Strengthening Privacy in DeFi
PriveX is the first decentralized exchange (DEX) built using COTI’s confidentiality layer. It combines the efficiency of Centralized Exchange (CEX) with Decentralized Finance (DeFi) security, providing a secure, scalable platform that offers deep liquidity, private transactions, and an intuitive user interface. With the help of COTI’s privacy technology, PriveX aims to allow traders to execute their strategies without revealing sensitive information like trade data to others
It seems you’ve provided a summary of a specific technology, COTI’s confidentiality layer, which employs Garbled Circuits’ cryptographic protocol. This advanced technology offers a compliant and cutting-edge solution for data protection on the blockchain, supporting various applications like private transactions, DeFi, AI, and decentralized identity systems
Using COTI’s Garbled Circuits technology, PriveX aims to simplify trading operations without disclosing sensitive information that might be used against traders by their competitors. This extra layer of privacy safeguards users from potential market manipulation, providing a unique blend of the advantages offered by centralized finance (CeFi) and decentralized finance (DeFi)
This characteristic should draw frequent traders looking for heightened privacy and smooth transactions towards the Decentralized Finance (DeFi) sector. The recent alliance occurs when DeX trade volumes experienced a spike, exceeding $180 billion in August, as reported by DeFiLlama
COTI CEO Shahaf Bar-Geffen highlighted the importance of this collaboration, stating:
“Ensuring privacy is essential in Decentralized Finance (DeFi), and our technology aims to provide PriveX users with the assurance they need to trade confidently, knowing their transactions are secure.”
As a researcher, I’d like to highlight one key advantage Bar-Geffen mentioned: Decentralized self-custody allows traders to securely manage their own assets, yet they can still access liquidity pools akin to those available on centralized trading platforms
What’s Next for the Partnership?
To start, PriveX plans to debut its Test-Mainnet on the Base network for authorized users to try out the platform’s functionalities. Following this, there will be a shift to COTI’s upcoming V2 mainnet, aiming to improve its privacy capabilities. Users trading on PriveX can anticipate up to 60 times leverage across various assets, thanks to partnerships with Symm.io and IntentX.io that bring CEX-like liquidity for over 250 trading pairings
Initial users stand to gain reward points, which are accrued based on their transactions within the platform. These points accumulate, contributing towards an airdrop event when Privex migrates to COTI’s V2 mainnet. This collaboration signifies a substantial advance in the pursuit of more privacy-oriented DeFi solutions and could establish a new benchmark for decentralized trading
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2024-09-05 22:16