2 months ago
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PriveX is the first intent-based privacy perpetuals DEX, built on COTI’s confidentiality layer.
COTI, known for its rapid and lightweight confidentiality layer on Ethereum, has announced a strategic partnership with PriveX, a decentralized exchange (DEX) that focuses on intent-based perpetuals trading.
This collaboration aims to provide traders with a secure, confidential trading experience by integrating COTI’s privacy technology into the PriveX platform.
Strengthening Privacy in DeFi
PriveX is the first intent-based privacy perpetuals DEX, built on COTI’s confidentiality layer. It merges CEX efficiency with DeFi security, offering a secure, scalable platform with deep liquidity, confidential transactions, and a user-friendly interface. Through COTI’s privacy technology, PriveX will ensure that traders can execute their strategies while keeping sensitive information, such as trade data, hidden from others.
COTI’s confidentiality layer employs the 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.
By leveraging COTI’s Garbled Circuits protocol, PriveX will make it easier for traders to operate without revealing crucial details that could be exploited by competitors. The additional layer of confidentiality ensures protection from market manipulation, offering users the best of both centralized finance (CeFi) and decentralized finance (DeFi).
This feature is expected to attract regular traders seeking enhanced privacy and efficient trading into the DeFi space. The new partnership comes at a time when DeX trading volumes have surged, surpassing $180 billion in August, according to DeFiLlama.
COTI CEO Shahaf Bar-Geffen highlighted the importance of this collaboration, stating:
“Privacy has always been a key issue in DeFi, and our technology will give PriveX users the confidence to trade securely.”
Bar-Geffen added that traders will enjoy the benefits of decentralized self-custody, while still tapping into liquidity pools similar to those found on centralized platforms.
What’s Next for the Partnership?
PriveX will initially launch its Test-Mainnet on the Base network, allowing whitelisted users to test the platform’s features. The platform will then transition to COTI’s upcoming V2 mainnet, which will enhance its privacy features. Traders on PriveX will have access to up to 60x leverage on multiple assets, benefiting from PriveX’s partnership with Symm.io and IntentX.io to deliver CEX-like liquidity across more than 250 trading pairs.
Early users will also earn reward points based on their trading activity. These points will count toward an airdrop when PriveX transitions to COTI’s V2 mainnet. This partnership marks a significant step forward in the push for more privacy-focused DeFi solutions and could pave the way for a new standard in decentralized trading.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Leon is a seasoned blockchain writer and reporter, dedicated to uncovering the stories behind decentralized technologies. He excels in providing in-depth analysis and thought leadership in blockchain media. His reporting sparks meaningful conversations and fosters a deeper understanding of the transformative potential of blockchain.
