NEAR Brings Confidential Perps Trading with Hyperliquid

NEAR Protocol has rolled out confidential perpetual futures on its platform near.com. This feature is powered by Hyperliquid, which enables trading in more than 50 markets with up to 40x leverage.

The positions are private by default, masking the asset, size, entry time, and direction of every position. However, the underlying trades still execute on Hyperliquid's side of the arrangement.

NEAR Intents acts as a cross-chain router for the product, allowing users to fund trades from assets on more than 35 blockchains. This is in addition to tokens on NEAR itself.

The pipeline behind it has hit $70 million in total value locked (TVL) on Sept. 15, according to NEAR's project statement.