Hinkal, a multi-chain privacy layer for confidential decentralized finance (DeFi) transactions, secures $1.4million in funding.
SALT Fund led the round, and Draper Associates, SNZ, and Peer VC also participated. With the money, the business hopes to attract VCs, family offices, liquid capital, and project creators to its private network.
It is a private and secure platform for venture capital and founding teams seeking to sell vested tokens, was founded by Giorgi Koreli and his brother Nika Koreli, Ph.D.
Due to the fact that token vesting and liquidations can have negative price effects that reduce net settlement and convey conflicting messages to the community, these stakeholders have historically had difficulty with these processes.
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It allows teams and venture capitalists to accept any vested token straight into a private address for discreet liquidation without causing any ripple effects on the market. With this ZK-based solution, users may engage with their preferred decentralised applications (dApps) straight from their private addresses, eliminating the need to remove funds for obfuscation. It functions as a private smart contract wallet.
In order to stop illegal parties from using the protocol, Hinkal demands KYC(B) (Know Your Customer/Business) verification from users. At the same time, it offers a more convenient experience by allowing users to reuse their attestations at exchanges like as Binance and Coinbase.
About Hinkal
Georgian dumplings, known as khinkali, served as the inspiration for the dish hinkal. Transactions and assets that may be hidden from public view to create a distinctive and customised financial experience are the elements of Hinkal’s privacy layer, which is similar to the wide variety of ingredients that go into making a delectable khinkali.
