NEAR Protocol enables private perps by default, powered by Hyperliquid
Summary
The NEAR protocol has introduced a new feature that enables private perpetual contracts by default, concealing traders' identities and position details while allowing for selective disclosure to meet compliance requirements. This update is powered by Hyperliquid, which provides the execution and liquidity layer, facilitating users' access to various markets with leverage through NEAR's interface and cross-chain capabilities.
Analysis
Hyperliquid: Hyperliquid is a decentralized perpetuals trading platform that provides deep liquidity and order book execution across a wide range of markets. It powers the derivatives trading backend for NEAR Protocol's confidential perps launch, allowing NEAR to focus on the privacy layer while Hyperliquid handles matching and settlement. The platform continues to expand its role in on-chain derivatives infrastructure through various integrations and features. NEAR Protocol: NEAR Protocol is a layer-1 blockchain platform designed for scalable decentralized applications and user-friendly interactions. It recently enabled confidential perpetual futures trading by default on near.com, using private shards to hide position ownership, sizes, directions, and other details from public view. The feature builds on its existing integration with Hyperliquid for execution and liquidity while supporting cross-chain deposits. Integration Model: Hyperliquid supplies the execution and liquidity layer for NEAR's perps product, enabling users to access multiple markets with leverage through NEAR's front end and cross-chain intents. Privacy in Trading: NEAR's confidential-by-default perps feature shields trader identities and position details while maintaining selective disclosure options for compliance.
Categories
hyperliquiddefiperpstech
Related sources
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