NEAR Protocol launched 'Confidential by Default' perpetuals trading on September 17, 2026, routing deposits through a confidential shard to mask positions and origins. Powered by Hyperliquid's execution engine, the feature offers up to 40x leverage but is restricted in the US and Canada. Following the launch, NEAR's price surged up to 45% as its Confidential Intents TVL crossed $70 million.
NEAR confidential perpetuals launch
- ▪The launch of NEAR Protocol's 'Confidential by Default' perpetuals trading on September 17, 2026 coincided with its multi-chain Confidential Intents pipeline crossing a total value locked milestone of $70 million
- ▪NEAR Protocol's 'Confidential by Default' perpetuals trading feature, launched September 17, 2026, routes deposits through a confidential shard using a trusted execution environment bridge to separate a trader's public account from their trading activity
- ▪NEAR Protocol launched a "Confidential by Default" perpetuals trading feature on near.com on September 17, 2026
- ▪NEAR Protocol's 'Confidential by Default' perpetuals trading feature, launched September 17, 2026, remains restricted in the United States and Canada due to regulatory reasons
Privacy advantages for traders
- ▪Publicly visible orders on-chain disadvantage institutional traders and AI agents by exposing them to front-running, strategy copying, and forced liquidations
- ▪NEAR Protocol's confidentiality layer for its 'Confidential by Default' perpetuals trading feature does not hide the trades themselves, which still appear publicly on Hyperliquid's order book
- ▪NEAR Protocol's 'Confidential by Default' perpetuals trading feature, launched September 17, 2026, masks perpetual positions, asset types, sizes, entry times, and trading directions to shield who is trading and where capital originated
Hyperliquid execution layer integration
- ▪Cross-chain funding for NEAR Protocol's 'Confidential by Default' perpetuals trading works through NEAR Intents, which handle automatic conversions to USDC
- ▪NEAR Protocol integrated Hyperliquid's perpetual futures engine on June 9, 2026, enabling deposits from over 35 chains and access to over 50 trading markets with up to 40x leverage
- ▪Hyperliquid processed approximately $240 billion in perpetuals volume in the 30 days leading up to mid-September 2026
Token price movements and market reactions
- ▪Following the launch of NEAR Protocol's 'Confidential by Default' perpetuals trading on September 17, 2026, the NEAR token price surged between 21% and 45% to trade in a range of approximately $3.21 to $3.45
- ▪Trading volume for the NEAR token surged by approximately 120% over a 24-hour period following NEAR Protocol's September 17, 2026 announcement of its 'Confidential by Default' perpetuals trading feature
- ▪The HYPE token price gained 10.82% to trade at $86.72 after Payward, the parent company of Kraken, announced plans to bring Hyperliquid to the United States market
Debatable claims
- ▪Regulators should permit confidential perpetuals trading platforms to operate
- ▪DeFi protocols should make transaction privacy the default setting
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