Many people still believe that "on-chain finance equals transparency," but those who have actually engaged in financial services understand — without privacy protection, true asset scale and complex strategy execution are impossible.

Transparency and privacy are not mutually exclusive. For the on-chain ecosystem to mature and the DeFi market to grow, privacy infrastructure must become a core support. Sensitive information such as user fund flows, position sizes, and trading strategies, when exposed on-chain, is equivalent to laying oneself bare to the market.

This is why more and more projects are redefining the role of privacy — making privacy a standard feature of the financial system rather than an option. This is an essential step for on-chain finance to truly advance toward institutional-grade applications.