Singularity's Confidential DeFi Update

Good morning, good afternoon, and good evening to everyone across the globally distributed DeFi network. We're glad you're here.

Despite a volatile start to the year marked by presidential meme coins and hacks, our resolve remains unshaken. The cryptoeconomy is facing its strongest sentiment yet, and we continue to focus on our goals without distraction.

At Singularity, we have been diligently working to develop the premier privacy infrastructure on the market. Our aim is to enable users to maintain their privacy both compliantly and efficiently.

In this newsletter we will discuss some of our external developments on the business side as well as our Darkpool.

As a reminder, 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.

Product Developments

• A revamped user experience to abstract our private notes:

  • Based on user feedback, we've made significant enhancements to simplify the user experience.

  • The most pivotal change is the abstraction of UTXO private notes.

  • Previously, users had to engage directly in the safekeeping and managing of their private notes to execute operations like swaps, transfers, staking, or liquidity provisioning.

  • Our latest interface update simplifies this process by handling these notes entirely in the backend, thereby maintaining robust security and privacy without the hands-on hassle

• The development of our Darkpool:

  • Overview: A major focus over the last few months has been getting our compliant Darkpool ready for testnet. We are now in the final stretch with market makers currently completing integrations in preparation for testnet.

    • What is it? The first institutional-grade Darkpool is tailored for institutional participation, featuring a fully dark matching engine and a seamless order creation to completion process.

    • Technology Overview: The Darkpool utilizes Zero-Knowledge Proofs, Multi-Party Computation and Fully Homomorphic Encryption to work in harmony to anonymize trading activities.

    • What is private about it? All details of the trade, including the asset type, amount, and price, are obscured from public view, accessible only to the party placing a buy or sell order. We'll share more when we launch on testnet.

  • Here is a sneak peak on what it will look like.

Business Developments

• Strategic Partnerships:

  • Synaps Partnership: We are thrilled to announce a strategic partnership with Synaps, a leading KYB provider. This collaboration focuses on servicing 98% of crypto-focused businesses, enabling our institutional clients to seamlessly obtain their KYB attestation. Additionally, users with existing Synaps KYB credentials can now re-use them within our ecosystem, enhancing user convenience and security.

  • Anima Protocol Partnership: We are excited to announce our strategic partnership with Anima Protocol, a quest platform that uniquely certifies all users as 100% human through a required reputation-NFT mint. As one of the initial three partners to launch with Anima Protocol, we are eager to engage with and grow within this vibrant community.

• Retail Activation Campaign:

  • We commenced our retail activation campaigns late Jan 2025 via a series of weekly growth sprints, working with various channel partners as well as direct to user campaigns.

    • Traction:

      • Over 50K+ wallet sign-ups

      • More than 5K+ KYC’d wallets - given the friction points in retail KYC, a 10% conversion was surprising.

      • Discord is up ~1400% since the start of the year

      • This is with $0 in marketing spend as we evaluate which channels and methods are working best. We will continue to iterate and start to double down on channels that are generating the highest growth.

Check out what’s happening on Discord now!

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

Thanks for reading our February update!

See you next month!

🟢 The Singularity team