Singularity's April Confidential DeFi Update

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

This month has been nothing short of productive and exciting. From the record flooding in Dubai to significant product milestones and the announcement of a strategic funding round, we're thrilled to share our recent developments.

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 Update

We are thrilled to announce that one of the two audits initiated last month has been completed with excellent results, and the other is close to completion. This progress brings us one step closer to deploying on mainnet.

As we approach our mainnet deployment, we have updated our user interface to improve usability and overall experience. This includes integrating a Google Chrome extension management tool to enhance functionality.

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

Practical use-case

The DeFi ecosystem is known for its volatility, especially pronounced when vesting periods expire for large investors. At these times, team members, founders, investors, and advisors can claim their unlocked tokens, giving them the freedom to engage in activities like liquidating their holdings.

This can lead to significant speculation about their decisions and the potential impact on market prices.

Due to the public nature of the blockchain, the wallets of large investors are often tagged and monitored during these unlocking events, and with good reason.

This isn't just theoretical; it happens quite frequently in real-time.

For example, last month, Arbitrum, a cryptocurrency ranked 39th (as of 4/29/24) in market capitalization by CoinMarketCap experienced a massive token unlock, with large token holders moving ~$58 million to exchanges. Generally, there aren’t many reasons to transfer funds to an exchange unless there's an intention to sell.

As illustrated below, the significant wallet transfers from large holders of $ARB, involving tagged wallets, have sparked considerable speculation.

Vesting is a common practice in token investments and management, and it is poised for innovation due to the current lack of confidentiality in the token lifecycle.

Our 'Vesting in Stealth' solution allows investors to claim their tokens and execute their post-vesting strategy—whether rebalancing, selling, or providing liquidity—with complete commercial confidentiality from start to finish.

The purpose of confidential vesting is not to secretly manipulate the market but to protect the commercial confidentiality of token holders.

For example, a holder may need to transfer tokens between wallets or sell some holdings to cover personal expenses. It's crucial to remember that vesting periods can span years, potentially locking up funds that holders may need access to now.

Team Update

Past Events: 

• 🇭🇰 Hong Kong Web3 Festival: Jemma (CEO) & Jay Xu (Lead Engineer)

• 🇦🇪 Dubai Token2049: Jemma (CEO) and Jonah (BD and Growth Lead)

• 🇹🇭 Southeast Asia Blockchain Week: Jemma (CEO)

It was incredibly productive for the team to meet and make deals with partners, investors, and users for our protocol. In-person meetings are still unmatched.

Additional Awareness Pieces:

Continuing our discussion on practical vesting use cases, we've created a detailed blog post that explores what Vesting in Stealth means for both founders and investors.

You can read more about it here:

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

Thanks for reading our April update!

🟢 The Singularity team