Singularity's July 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 past month, we have made significant advancements in both product development and partnerships. Notably, we now support Rocket Pool (rETH), launched a vault with Quantlytica, and released our SDKs for seamless integration with dApps.

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

Release of our SDKs

We now have a library of DeFi SDKs to enable us to seamlessly embed our powerful tech stack into the backend of projects that would benefit from on-chain confidentiality. The best part is that this integration does not impact the user experience. All on-chain confidentiality processes occur in the backend, allowing users to focus on the more important aspects without any additional learning curve.

This advancement will significantly enhance our scalability and ability to reach a larger audience. We will have tech docs in the coming days to share with interested projects.

Sablier Integration

We have completed integration with Sablier, a leading vesting streaming solution with thousands of streams and over $250M in TVL.

Users can now enjoy Sablier’s established product with the added benefit of on-chain confidentiality. This innovation addresses a significant pain point in the token vesting and token management vertical.

Project teams can set up streams and ensure complete confidentiality from start to finish, allowing stakeholders to claim their vested tokens and manage them as they choose without public scrutiny, all in a compliant manner.

Launched Vault with Quantlytica

We are excited to announce our partnership with Quantlytica where a dedicated vault has been set up and managed by Quantlytica for their users to deposit and participate in our staking campaign. This vault significantly reduces user friction and provides additional incentive rewards for users.

We have additional similar partnerships emerging and are excited to build out Singularity by creating a strong community and user experience for all.

Compliant Staking Ongoing Campaign

To bootstrap TVL we launched an innovative mechanism called Compliant Staking to reward users for - as the name suggests - lock their assets in Singularity and in return earn points and ultimately improve the obfuscation for all users in the Singularity protocol.

This process begins with users completing KYB/KYC procedures. Afterward, they deposit and lock their assets into the Singularity contract and mint an equivalent amount of sgTokens on a 1:1 basis.

Participants can now stake ETH, USDC, USDT, or rETH to earn.

Rules here:

Introducing Private Transfers

As the digital asset economy grows, so do the companies with their native tokens.

Many of these nascent companies offer cryptocurrency as part of their compensation packages for employees. This approach can help expand the talent network and provide unique and competitive pay. However, it also presents certain challenges.

One significant issue is that blockchain technology is synonymous with transparency. This transparency includes the company's payroll, meaning every payroll run—whether monthly, bi-weekly, or otherwise—will be visible on the blockchain. Since a person's income is often considered private, this level of transparency can be problematic for many.

Let’s play out an example:

Company A pays its employees in USDC, and Employee A receives their income via a public wallet address. This transaction will be visible to everyone, potentially leading to:

• Internal toxicity from employees tracking each other's transfers.

• External knowledge of the company's pay structure.

• Tracking the flows back to the company's treasury wallet(s), thereby exposing sensitive treasury information.

Through the use of Singularity, these transfers can be made confidential, providing a basic level of privacy for both individuals and the company.

Through the use of zero-knowledge proofs, Singularity's protocol can handle transactions by obfuscating on-chain activity between parties, leaving no on-chain footprints.

If this is something of interest to you, please reach out to [email protected] or connect with us below:

Additional Awareness Pieces:

Check out our blog to read more about the types of features you can do with Singularity.

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

Thanks for reading our July update!

🟢 The Singularity team