Confidential DeFi

Trade with Privacy — The First FHE-Powered DEX

Perpetual futures on BTC, ETH, and more — with fully homomorphic encryption protecting every position. The orderbook is public. Your strategy is not. Welcome to DeFi where the house can't see your cards.

What It Is

Perpetual Futures, Fully Encrypted

A decentralized exchange where positions are invisible to everyone — including validators

  • FHE-encrypted positions — your position size, entry price, and leverage are encrypted using Fully Homomorphic Encryption. The protocol can compute liquidation conditions on ciphertext without ever seeing the plaintext. No one knows your exposure — not validators, not other traders, not even the chain itself.
  • Public orderbook, private execution — the orderbook is transparent and auditable for price discovery, but matched orders are executed with encrypted parameters. You get fair pricing without exposing your strategy.
  • Threshold liquidation — liquidation triggers are evaluated homomorphically. When a position breaches its margin threshold, the protocol proves the liquidation is valid without revealing the position details. Mathematically fair, cryptographically private.
  • Up to 20x leverage — trade BTC/USDT, ETH/USDT, and more major pairs with institutional-grade leverage. Margin requirements are enforced on-chain through encrypted computation — no centralized risk engine, no trust required.
  • Cross-chain liquidity via zkBridge — bring liquidity from Ethereum, Solana, and other chains through ATSHI's zero-knowledge bridge. Trade on ATSHI with assets originating from any supported network, settled with immediate finality.

How It Works

1. Deposit & Encrypt Collateral deposited on-chain, position parameters encrypted with FHE keys
2. Place Order Submit encrypted limit/market order — price visible, size & leverage private
3. Match & Execute Orderbook matches on price, execution happens on encrypted position data
4. Threshold Liquidation Margin checked homomorphically — liquidation proven without revealing position
5. Settle & Withdraw PnL computed on ciphertext, decrypted only for the position owner at settlement
Advantages

Why Confidential DeFi Changes Everything

Every existing DEX leaks your strategy. ATSHI is the first where privacy is not optional — it is the protocol.

🛡

Zero Front-Running

Your orders cannot be front-run because your position parameters are encrypted. MEV bots see ciphertext, not opportunity. The mempool is no longer a buffet for extractors.

Privacy
⛔

No MEV Extraction

Maximal Extractable Value drops to near zero when validators cannot read position data. Sandwich attacks, liquidation sniping, and oracle manipulation become mathematically impossible.

Security
🏢

Institutional Privacy

Hedge funds and market makers can trade without broadcasting their strategy to the entire network. Position size, leverage, and PnL stay encrypted until you choose to reveal them.

Institutional
⚡

Immediate Finality

ARCH consensus delivers sub-second finality with no reorgs. Your trade is final the moment it lands in a block — no waiting for confirmations, no uncertainty window for exploits.

Performance
🌐

Cross-Chain Liquidity

zkBridge connects ATSHI to Ethereum, Solana, and major L2s. Bring liquidity from any chain, trade confidentially on ATSHI, and settle back — all trustlessly verified.

Interoperability
📊

Auditable Fairness

Despite full privacy, the protocol is publicly auditable. Anyone can verify that liquidations were fair, that the orderbook was not manipulated, and that no insider trading occurred — all via zero-knowledge proofs.

Transparency
Comparison

ATSHI DEX vs. The Competition

No existing perpetual DEX offers true position privacy. ATSHI is the first to make it real.

Feature dYdX GMX Hyperliquid Uniswap ATSHI DEX
Position Privacy None None None None FHE-encrypted
MEV Protection Partial (off-chain matching) None Partial (sequencer) None Full (cryptographic)
Front-Running Risk Low (centralized sequencer) High Low (own L1) High Zero
Leverage Up to 20x Up to 100x Up to 50x N/A (spot) Up to 20x
Finality ~1 second ~2 minutes (Arbitrum) ~0.2 seconds ~12 seconds (L1) Sub-second, final
Cross-Chain Bridge required Arbitrum only Own chain only Multi-chain (fragmented) zkBridge native
FHE Technology None None None None Protocol-native

Trade Without Exposure — The Future of DeFi Is Private

Join the first decentralized exchange where your positions are cryptographically invisible. No front-running. No MEV. No compromise. Just pure, private trading.

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