$NEAR Surges 21% as Near Launches Confidential Perps Trading
Near Protocol ($NEAR) has launched confidential perpetuals trading on its platform, allowing users to trade without exposing their positions and strategies.
This move is seen as a major step towards increasing privacy in DeFi (Decentralized Finance), which has been criticized for being vulnerable to front-running, strategy copying, and forced liquidations.
The new feature combines the benefits of centralized exchanges' anonymity with the speed and decentralized nature of blockchain technology. It also utilizes Near's multi-chain Confidential Intents pipeline, which recently hit a $70 million TVL (Total Value Locked) milestone.
Near's confidential perps trading is available on its platform near.com and allows users to tap into over 50 perpetual markets with up to 40x leverage. However, the feature is currently restricted in the US and Canada due to regulatory reasons.