Hibachi, in collaboration with Celestia and Succinct, has launched a privacy-first DEX.

Odaily Hibachi announced the launch of a privacy-first decentralized exchange with Celestia and Succinct, which is based on Celestia's modular data availability layer and uses the zero-knowledge proof infrastructure provided by Succinct to achieve on-chain privacy protection of transaction records, positions and account balances. In terms of architecture, the platform solves the user privacy problems caused by the disclosure of on-chain transactions from the bottom layer, and realizes the comprehensive encryption and hiding of transaction records, position information and account balances. At present, Hibachi has launched the core perpetual contract trading function, and in the future, it will successively launch the strategy vault (the initial internal custody strategy), the native lending market, the multi-asset collateral mechanism and the spot trading function to meet the risk management and asset allocation needs of users. Although the project team has not yet made an official announcement on the token offering, the market has expected that Hibachi may launch a native token, and the design will focus on trading activity and user engagement.