Welcome to Confidential DeFi by Singularity

It comes with great pride and pleasure to welcome you to the first edition of Singularity’s Confidential DeFi update.

Singularity’s mission is to enable liquid funds, venture funds, and institutions to have discretion and maintain the confidentiality of their on-chain strategies in a compliant manner.

We know you are busy, so let’s cut through the fluff and get down to business.

This newsletter has three key objectives:

1. Provide Product Updates: Share regular product updates

2. Empower Users: Share strategies for leveraging DeFi with confidentiality and examine practical implementations in the real world

3. Highlight DeFi Trends: Deliver the latest insights and developments

Product Update

As we proceed closer to mainnet deployment, we have been making significant strides in ensuring our protocol is as secure as possible.

In addition to a suite of internal QA testing, we commenced two simultaneous audits, one with Three Sigma and the other with Zellic, and will be sharing these audit reports at completion.

We are also exploring real-time, smart contract monitoring to stop attacks based on machine learning algorithms as well as a potential bug bounty program.

Excitingly, we have begun to onboard our first batch of users through the KYC and KYB processes.

If you’d like to learn more and use our protocol, please connect with us.

Real-life use-case

BlackRock is now the proud owner of Jesus Coin, Cramer Coin, Lery Fenk, and more odd-named coins... or are they?

Now that their on-chain wallet address has supposedly been tagged it has led to many Web3 users sending a variety of 'interestingly-named' coins to their public address.

If we want the Web2 institutions to enter the Web3 realm, this is not going to help our case.

We need institutional-grade DeFi infrastructure to bridge that gap like Singularity where our users can execute their DeFi strategies, without doxxing their wallet addresses.

DeFi Trends

As the bull market hits another gear, there’s no shortage of headlines and trends, but what about the trend of TVL dominance? Do EVM-compatible chains reign supreme?

As of February 2024, ~96% of DeFi TVL is based on EVM-compatible chains with more than 90% on Ethereum.

Team Update

Funding Announcement: Closed $2.2M led by Gumi Cryptos Capital with Nomura's digital asset subsidiary Laser Digital, Eureka Partners, and previous round investors including Apollo Crypto, Digital Asset Capital Management, and Gandel Invest participating

Past Events: 

• Co-Founder, Jemma Xu, and Growth Lead, Jonah Schulman attended ETHDenver

• Lead Engineer and Co-Founder, Jay Xu, spoke at ETH Sydney at the Google office

• Growth Lead, Jonah Schulman, appeared on Negocios TV discussing Singularity and its use cases as it pertains to institutional DeFi

Upcoming Events:

• Jemma and Jay will be attending Hong Kong Web3 Festival from April 6th to 9th event in a couple of weeks

Let us know if you will be there!

Additional Awareness Pieces:

• We’ve begun creating awareness pieces of the types of use cases our users are utilizing us for. Read more of them here.

Integrations, partners, investors, and users are welcome to connect with the team.

Thanks for reading.

🟢 The Singularity team