
Quote without exposure.
Strike, size, and direction stay sealed inside an encrypted envelope. Counterparties match on commitments, not contents — only the cleared trade ever surfaces.
- Pedersen commitments
- zk-SNARK validity
- Sealed-bid match


Strike, size, and direction stay sealed inside an encrypted envelope. Counterparties match on commitments, not contents — only the cleared trade ever surfaces.

Multi-leg structures — collars, risk reversals, calendars — priced and settled with the desk-quality of a TradFi voice broker, with the finality of a block.

Collateral evaluated across positions without disclosing them. Cross-margin offsets release capital while a zero-knowledge solvency proof keeps the book private.
From quote request to settled position, every value the desk cares about travels through the protocol as a commitment — not a number. Move through the stages to see what is, and isn't, visible.
Engineered from first principles to provide privacy, without sacrificing composability or execution speed.

Confidentiality at the matching layer — not the chain layer — preserves the auditability and finality institutions actually want.

Cross-portfolio offsets computed via encrypted addition and subtraction, enforcing the correct capital margin without ever learning the individual positions or strikes.
Institutional onboarding is invitation-only. Submit a desk contact and our protocol team will reach out within one trading day.