Binance Founder and Former CEO Changpeng Zhao (CZ) has revealed his new project!

The founder and former CEO of the crypto exchange Binance, Changpeng Zhao (CZ), brought attention to a remarkable project idea in the field of decentralized finance (DeFi) in a statement he made.

Zhao stated that, considering the current market conditions, it is time to develop a dark pool-based perpetual DEX ( futures decentralized exchange ).

CZ, in a post he made on Twitter(, pointed out that the visibility of orders in decentralized exchanges poses serious risks for large investors. Zhao stated that the market could be manipulated due to the visibility of liquidation points, especially in perpetual DEXs, and noted that this situation could expose users to MEV )Maximum Extractable Value( attacks, high slippage, and poor execution prices.

“In the traditional finance world, large investors prefer dark pools because they can carry out large orders secretly. This privacy is even more important for perpetual transactions, as someone who sees your liquidation level could turn the market against you.”

According to Zhao’s proposal, the next generation of a DEX could solve this issue by hiding the order book or by making investments in smart contracts visible with a delay. CZ argued that zero-knowledge proofs )ZK( or similar encryption techniques could be used in the development of this platform.

*This is not investment advice.

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