COTI’s New DEX:- On Monday, Binance founder and former CEO Chengpang “CZ” Zhao suggested the need for a dark pool perpetual DEX that maintains users’ privacy.
In a move inspired by CZ’s vision, the layer-2 network COTI has launched the privacy focused perpetual DEX named PriveX. The DEX built on COTI’s privacy layer aims to provide users with “intent-based trading” to its users. Using Garbled circuits, it promises of protecting trader’s actions before execution.
COTI’s New DEX Allows Automated and Private Perp Trading
New DEX PriveX is launched on its privacy focused layer-2 (COTI V2). This comes after it last made headlines for its partnership with ECB. It was selected by the European Central Bank (ECB) to develop its digital EURO, the region’s CBDC.
Now, in another big update, it has abided by the Chengpang “CZ” Zhao’s idea. In a X post on June 2, CZ explained how exposing trader’s actions can lead to front-running and MEV attacks.
In order to solve this, COTI is powering the PriveX DEX which keeps the transaction data encrypted using its confidential trading infrastructure.
COTI has integrated garbled circuit that makes its infra privacy-focused. Garbled circuit is a cryptographic technique that lets two parties jointly compute a function without revealing their private inputs. Using locked boxes, only the final trade action is exposed and not the individual data along the way.
PriveX uses intent-based execution to source liquidity rather than traditional order book trading. With this, a trader has to set only his intent and trade would execute once all the market conditions align.
A backend solver network, built on Symmio interprets these intents and sources liquidity dynamically from both CEXs and DEXs. This can ensure lower slippage and best prices for the trader.
DeFi just got an upgrade! @PriveX_Official is now live on COTI Mainnet. An intent-based Perp-DEX offering deep CEX-like liquidity via @symm_io—with the protections of on-chain privacy.
Built on COTI’s privacy layer, PriveX changes how trades are carried out: smarter, faster, and… pic.twitter.com/yBVqZ7cSVy— COTI Foundation (@COTInetwork) June 4, 2025
Read in Details the CZ’s idea of Dark Pool DEX
Not only the privacy-focused trading, PriveX is also planning to integrate AI Agents for automated trading.
Perpetuals Continue to Dominate Derivates Market
It is interesting to note that the demand for perp exchanges such as CCOTI’s PriveX comes as the market continues to reach highs.
Perpetual futures or perps account for the bulk of on-chain derivatives activity. In Q1 2025, Perpetual futures comprise roughly 90 percent or more of that derivatives amounting to $18 – $19 trillion for the quarter.
In the last 24 hours only, Binance Futures are the largest perpetual‐swap venue. According to CoinGlass, they have recorded $56.97 billion in 24-hour perp trading volume.
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