PriveX is able to provide its customers both the flexibility of DeFi and the effectiveness of CeFi.
When COTI transitions to the Mainnet later this year, PriveX aims to switch to COTI V2.
COTI, the leading provider of Ethereum’s fastest and lightest confidentiality layer, is pleased to announce a strategic cooperation with PriveX, the first intent-based privacy perpetuals DEX. PriveX has integrated COTI’s state-of-the-art privacy-preserving Layer 2 technology into its platform to guarantee a smooth, safe, and fair trading experience in addition to secure, confidential transactions. As the first intent-based perpetuals DEX to go live on COTI, PriveX offers DeFi traders never-before-seen levels of protection and anonymity.
An important turning point for the decentralized finance sector is this alliance. Through the implementation of COTI’s cutting-edge cryptographic protocol, Garbled Circuits, PriveX is able to provide its customers both the flexibility of DeFi and the effectiveness of CeFi. Traders on PriveX will be able to carry out their strategies without disclosing sensitive data, such as transaction amounts or stop-loss positions, which will shield them from market manipulation.
COTI’s CEO Shahaf Bar-Geffen commented:
“Privacy has long been a barrier to the broader adoption of decentralized finance. COTI’s state-of-the-art confidentiality layer will provide PriveX users with the security they need to trade confidently, tapping deep liquidity pools on centralized exchanges whilst enjoying the decentralized, self-custody benefits of DeFi.”
As part of the collaboration, PriveX will launch its Test-Mainnet environment on the Base network for whitelisted addresses. When COTI transitions to the Mainnet later this year, PriveX aims to switch to COTI V2. COTI’s privacy-preserving technology, which offers features like trade amounts and confidential trading techniques, will be advantageous to traders on PriveX.
With up to 60x leverage and immediate access to high-leverage positions on a variety of coins, PriveX will enable the COTI community and open up new avenues for strategic trading. Users will benefit from quick transactions, competitive fees (both on the network and the platform), and an intuitive interface thanks to the seamless integration into the COTI network, all of which are intended to improve their trading experience. IntentX.io’s “solver solution” and Symm.io work together with PriveX to provide CEX-like liquidity across more than 250 trading pairs.
With today’s partnership, COTI’s privacy-centric Layer 2 technology has significantly expanded, showcasing its adaptability to a variety of DeFi applications. On the PriveX DEX, the COTI community will benefit from first-movers advantage and earn reward points based on trading volume. When PriveX moves to COTI V2, points will then be tallied toward an airdrop.
