In a bold move that sends ripples through the crypto waters, Hinkal has officially set sail on the mainnet of six EVM chains. Just after wrapping up a significant $4.1 million funding round led by the illustrious Draper Associates, this protocol is ready to make waves in the DeFi space.
A Family Affair: Founders with a Vision
Founded by the dynamic duo of Giorgi Koreli, a Stanford graduate, and his Ph.D. brother, Nika Koreli, Hinkal aims to bring the utmost privacy to trading strategies for high-stakes traders and institutional funds. In an age where privacy policies feel like they come with a side of fries—extra and unwanted—Hinkal is setting out to change the game.
Your Trading, Your Secret!
The crux of Hinkal’s offering lies in its ability to allow traders to operate on their preferred decentralized apps (dApps) without the gnawing fear of their strategies being poached or front-ran. Key tools like stealth addresses, shielded pools, and decentralized identities (DIDs) are employed to deliver high levels of privacy while keeping compliance levels intact. Because let’s face it, no one wants to trade in the shadows while feeling like they might as well be wearing a balaclava!
Two Main Strategies at Play
- Active LP/Yield Framing: Diagrams? Check. Profits? Check. Understanding what in the world yield framing is? Well, we can help with that!
- Buy-and-Hold with Liquidations: Sometimes holding is the hardest part—especially if it’s on the verge of a liquidation. Hinkal has your back.
Voices from the Frontlines
Giorgi Koreli, the Co-Founder, shared his thoughts on the matter: “Privacy was always coming at the expense of fees, compliance, and usability; we are solving this by introducing a private Ethereum experience for professional traders.” That sounds like a pitch worthy of a standing ovation, right? But it’s Draper Associates’ Tim Draper who underscores the importance of privacy layers, emphasizing that they could be the stepping stone for broader crypto adoption from centralized to decentralized ecosystems.
Hinkal’s Functionality and Future Plans
Hinkal isn’t stopping at just being trendy—it’s kicking off with six dApp integrations and functionalities galore: swaps, liquidity provision, and staking. Think of Hinkal as that multipurpose tool you never knew you needed until you suddenly found yourself at a DIY project and realized you were lacking—you know, like a good wrench. What’s next? Strap in for more dApp integrations, with GMX and Lido coming up fast on the radar.
Challenges in the Current Landscape
It’s not all rainbows and unicorns, however. Historically, privacy protocols in the crypto space have faced considerable hurdles:
- Usability Issues: High transaction fees due to unexpected slippage and the complexity of ZK-proof generation.
- Compliance Spooks: With the shadow of regulations looming post the Tornado Cash incident, many traders have steered clear of privacy solutions.
Hinkal addresses both by offering a choice in compliance and flexibility in usability—no need to lock those assets away, folks!
The Grand Vision
In the grand scheme, Hinkal envisions creating a user-friendly, private trading experience that eliminates the traditional pains of navigating the DeFi universe. It’s a world where liquid funds can easily employ on-chain strategies in total privacy, all facilitated by Hinkal’s smart contract. Who said privacy couldn’t be friendly?
