COTI, renowned for its lightweight confidentiality layer on Ethereum, has just announced a strategic partnership with PriveX, a decentralized exchange (DEX) specializing in intent-based perpetuals trading. This collaboration aims to enhance privacy and security for traders by integrating COTI’s advanced privacy technology into PriveX’s trading platform, setting a new standard for decentralized finance (DeFi) transactions.
Strengthening Privacy In DeFi
PriveX stands as the first intent-based privacy perpetuals DEX built on COTI’s confidentiality layer. The platform merges the efficiency of centralized exchanges (CEX) with the security and transparency of DeFi, providing a scalable, secure environment for confidential transactions. Traders will benefit from deep liquidity, a user-friendly interface, and, most importantly, enhanced privacy thanks to COTI’s privacy technology.
At the core of COTI’s offering is its Garbled Circuits cryptographic protocol, a cutting-edge solution designed for data protection across blockchain applications. This technology supports private transactions, decentralized identity systems, artificial intelligence (AI) initiatives, and other privacy-centric applications. By integrating Garbled Circuits, PriveX ensures that trade data and sensitive information remain concealed from potential competitors, offering traders greater protection against market manipulation.
The Push for Confidential Trading
This move is expected to attract traders eager for both efficiency and privacy in the rapidly growing DeFi space. DeX trading volumes recently surged, surpassing $180 billion in August, according to DeFiLlama. The growing demand for private and secure DeFi solutions positions PriveX and COTI to capture a significant share of this expanding market.
COTI CEO Shahaf Bar-Geffen emphasized the importance of privacy in DeFi, stating:
“Privacy has always been a key issue in DeFi, and our technology will give PriveX users the confidence to trade securely.”
This partnership will enable traders to leverage the benefits of decentralized self-custody while accessing liquidity pools similar to those found on centralized platforms.
What’s Next for the Partnership?
PriveX is set to launch its Test-Mainnet on the Base network, offering whitelisted users a first-hand look at the platform’s features. The platform will eventually transition to COTI’s upcoming V2 mainnet, further enhancing its privacy features. Traders on PriveX will be able to access leverage of up to 60x across multiple assets, thanks to partnerships with Symm.io and IntentX.io, ensuring CEX-like liquidity across more than 250 trading pairs.
Early users of PriveX will also have the opportunity to earn reward points based on their trading activity, which can later be redeemed for an airdrop when the platform transitions to COTI’s V2 mainnet.
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This partnership between COTI and PriveX marks a significant step forward in the pursuit of privacy-focused DeFi solutions. With privacy becoming an increasingly critical concern for traders, the integration of COTI’s confidentiality layer into PriveX could set a new standard in decentralized trading. As DeFi continues to evolve, privacy-enhancing technologies like COTI’s Garbled Circuits are likely to play a pivotal role in shaping the future of the space.
