Hinkal: shared privacy layer and private hETH for DeFi
Quote366 words
Breakdown of Hinkal, a shared privacy layer enabling confidential cross-chain DeFi and anonymous staking, with private hETH usable across 8 chains. Argues public chains expose users to MEV and front-running.
Key claims
Hinkal raised $5.7M from Draper Associates, Stanford Blockchain, NGC and others
hETH works across 8 chains
Correction: hETH is a liquid privacy token, not a staking derivative
Privacy on public blockchains is broken.
It's time to fix this. ↓
That's why @hinkal_protocol is on a mission to anonymize public blockchains and bring privacy without compromises to the world of DeFi.
Privacy matters, which is why you trust your bank to keep your data private.
Why are you okay with having all your DeFi activity publicly visible & accessible?
Because of the pseudo-anonymity of your 0x... address?
In reality, privacy on public blockchains is an illusion. Unless you really know what you're doing, it doesn't exist.
That, and especially the transparent nature of public blockchains, comes with many issues.
The lack of privacy/confidentiality in DeFi exposes institutional and retail investors to MEV attacks, front-running, and strategic vulnerabilities, undermining trade confidentiality and financial security. For governance, it risks voter anonymity, compromising fairness and integrity in decision-making.
Hinkal fixes this.
As an institutional-grade shared privacy layer, Hinkal enables confidential cross-chain transactions and anonymous staking, allowing you to transact securely without compromising your privacy.
Want Privacy?
Set up your wallet within the Hinkal dApp and use private $hETH (a yield-bearing, liquid staking derivative) across 8 chains with your shielded wallet address.
You can also stake your $ETH from a normal wallet, receive $hETH, which you can earn yields on, trade on DEXes like Curve, and accumulate Hinkal Points for future benefits.
If you're bullish privacy too, make sure to check out their app and staking program. Especially with the Hinkal Point rewards, this could get quite interesting.
Hinkal has strong institutional support, was incubated at Stanford and in collaboration with Binance MVB.
The team raised $5.7M from notable investors including Draper Associates, Standford Blockchain, NGC Ventures & many others.
DYOR anon, more info below! 🧄 ↓
@hinkal_protocol Want to learn more about why privacy matters?
Check my post below! ↓
x.com/zerokn0wledge_/status/1849792419996254243
⚠️ CORRECTION:
I mention that $hETH is a „liquid staking derivative“. Thats not entirely correct, as $hETH is a liquid privacy token.
This is an entirely new paradigm, where $ETH is staked in Hinkal to increase the size of the shielded pool and improve the privacy of Hinkal users.
In exchange, stakers earn privacy yield from the shielded transaction. There is no „staking rewards“ from $ETH.
QUOTING @hinkal_protocol
Get Yields from Privacy 🚀 Stake ETH for hETH 🔒 Earn from Privacy (yield + fees) 💰 LP on @CurveFinance (double points) Follow @hinkal_protocol for alpha.
Get Yields from Privacy 🚀 Stake ETH for hETH 🔒 Earn from Privacy (yield + fees) 💰 LP on @CurveFinance (double points) Follow @hinkal_protocol for alpha.