Zama Opens 16 Morpho Vault Deposits and Launches Privacy Swap Protocol

Zama will open 16 confidential vault deposits on Morpho, covering assets such as USDC, USDT, AUSD, and TGBP. The first vault went live in June, utilizing Steakhouse's USDC Prime strategy, with total locked assets increasing from zero to $40 million within seven weeks. Steakhouse will manage part of the vaults, with Armitage by Wintermute, Flowdesk, RockawayX, and Bitwise also serving as managers. Users can confidentially access 12 existing non-confidential versions of Morpho vaults on Ethereum, while an additional four are created specifically for confidential deposits. Zama also launched the Zama Swap Protocol, allowing depositors to confidentially exchange cUSDC, cUSDT, cAUSD, and cTGBP, as well as confidential vault shares on Ethereum, without disclosing transaction sizes or intentions. Zama states that positions, balances, and strategies on public blockchains are visible to competitors and frontrunners, posing a structural barrier to large-scale institutional deployment. The vaults will first go live through Zama's own application, with Utila, Zerion Wallet, and Yield.xyz set to integrate in the coming weeks.

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