Hey GetBlock fam,
As our GetBlock Highlights #1 conversation with cross-chain projects made waves in the community, the moment has come to publish the second issue of our talks with the most promising protocols in Web3.
In a coming episode, we’re going to talk about decentralized finance protocols that are re-inventing good old yield farming in 2024 and bringing real-world assets to on-chain systems using various RPC nodes.
GetBlock’s Joan and Ellen discussed the latest developments with the team members of Binance-backed Xend Finance, tokenization innovators from Africa, and Tim Draper-backed Hinkal Protocol, one of the most secure yield farming platforms on eight EVM blockchains.
Enjoy the most interesting parts of our interviews with Xend Finance and Hinkal Protocol’s teams.
Xend Finance: RWAs, On-Chain, Re-Considered
Website: https://xend.finance/
Product: Real-world asset tokenization protocol with native L1
Source: Xend Finance
GetBlock: Morning, colleagues, thanks for coming today. Can you explain the technology stack behind Xend Finance? What blockchain platforms do you utilize?
Xend Finance: Xend Finance is backed by its own Layer One blockchain called Asset Chain. It is based on Lachesis consensus mechanism which is an asynchronous BFT and PoS-based blockchain. Lachesis was originally developed by Fantom Foundation.
GB: How does Xend Finance ensure the security of users' funds and transactions on your platform?
XF: The answer is simple: users’ funds are all held in a smart contract which is open-source, audited and decentralized
GetBlock: Could you share some insights into the development process and key milestones achieved by your team so far?
XF: Well, we have already developed the L1 blockchain called Asset Chain, we released a bridge for cross-chain asset transfer, and deployed a swap protocol based on Uniswap v3.
GB: What are some recent or upcoming integrations that users should be excited about?
XF: We are going to be supporting multiple yield generation protocols on Asset Chain. We are going to be supporting bounties, airdrops for users and developers of Asset Chain. Also, we’re ready to be tokenizing the entire blockchain layer to give everyone access to own a part of the tokenized value.
GB: Is there anything else you would like to share with the GetBlock community about Xend Finance and its vision for the future?
XF: Well, it’s our common advice for all blockchain enthusiasts. The GetBlock community should look out for the upcoming validator node tokenization process coming very soon on Xend Finance's L1 blockchain Asset Chain as It will be the first of its kind.
Hinkal: Secure yield farming on eight blockchains
Website: https://hinkal.pro/
Product: Decentralized self-custodial privacy layer for DeFi and beyond
Source: Hinkal
GB: Hey guys, it’s great to see you. Thank you for your time. Can you provide an overview of the Hinkal project and its primary objectives?
Hinkal: We enable people to trade, swap, and farm yield on provided liquidity without disclosing their transactions on chain, and we do it in a very special way. At the same time, we also use a zero knowledge KYC component, in order to stay compliant. So we do not actually know the names and surnames of people who trade on our platform, but we do know that they went through KYC procedure. This is necessary for us to be able to provide a privacy service for our users. Most of whom are institutions and big retail investors (whales).
Thanks to this, transactions are invisible on–chain, which is very useful to prevent MEV attacks. It also allows venture capital companies and other investors to invest their tokens and sell them without everybody knowing about this.
GB: What core technologies and blockchain protocols is Hinkal built on? Why did you choose these technologies?
H: We are building a lot of custom technology. We are a deep tech company and in the blockchain space, we're creating cutting edge privacy preserving technologies for trading, yield farming and so on and so forth. We're essentially bringing privacy back to DeFi allowing you to do discrete transactions. We use relayers. We also use the highest quality MPC wallets and third-party KYC services.
GB: What are the unique features of Hinkal that set it apart from other similar projects in the blockchain space?
H: There isn't really that much competition on the market right now. It's a very niche space. For example, Tornado Cash is sanctioned, and it's now illegal to use it so I wouldn't consider this a competition at all. The big differentiator with Hinkal is the ability to use existing DeFi dApps with added privacy. Currently, this is available through app.hinkal.pro, but very soon it will be available natively in dApps via our privacy SDK and other solutions.
We are creating a new paradigm, a Shared Privacy Layer. Thanks to technological innovations with zero knowledge proofs we are able to create a compliant privacy-preserving service. So I would say the biggest distinction between us and our competitors is the fact that we provide the KYC and KYB mechanism, which means we do not allow people and organizations which are sanctioned to take part in privacy pools. This, in turn, greatly increases the security and the peace of mind of everybody using it.
GB: Are there any key partnerships or collaborations that you can share with us that are helping to advance the Hinkal project?
H: Except for the partnerships with the eight blockchains that we support and multiple KYC and KYB providers, we work with great DeFi protocols like Convex, Beefy, Uniswap, 1Inch, Pendle, Odos, Lido and others.
We also have incredible investors who support us, we have multiple security agencies auditing our smart contracts, and we have legal partners who are supporting us on the legal side.
GB: Do you have any final thoughts or messages you’d like to share with our (GetBlock's) community?
H: Sure, I would like to highlight that we are on the verge of something very special which is called shared privacy. So for the first time you'll be able to have a privacy poll that is cross-chain and cross-asset which greatly increases the amount of volume you can get and so I highly encourage you to follow us on X and to be up to date whenever this launches because we will have incredible incentives.
But I would also encourage you to join the program that's already live called Hinkal Lords.
Where you're getting points for social interactions as well as provision of liquidity to the protocol swapping and through affiliate links, and if you get 50,000 points, you can become a Hinkal Lord and join our Alpha group. Thank you for your questions and we’re looking forward to welcoming GetBlock users into our community and vice-versa!
