Zama launches confidential RFQ swap protocol on Ethereum
Zama rolled out a private-beta confidential request-for-quote (RFQ) swap protocol on Ethereum on July 23 and tied the service to a Morpho-hosted confidential USDC (cUSDC) vault that exceeded $40 million in aggregate deposits by September 2026. The RFQ encrypts trade size, direction and price limits, supports cUSDT/cUSDC, cZAMA/cUSDC and csteakUSDC/cUSDC pairs, and uses whitelisted market makers competing in blind auctions. Swap fees are allocated to buy and burn ZAMA, and the Steakhouse confidential vault mirrors Morpho’s existing USDC Prime strategy while keeping individual positions hidden.
Zama launched a private-beta confidential RFQ on Ethereum on July 23.
Context
Zama announced the Steakhouse confidential USDC prime vault on June 17 and planned deposits from June 23. The confidential RFQ went live in private beta on July 23. Access is restricted now and may expand after the private beta.
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