Privacy is becoming the true controller of on-chain finance. This realization is increasingly clear in the market today.

Assets flow freely between different public blockchains, but sensitive data must be protected — it is this asymmetry that creates a lasting competitive advantage.

More and more projects realize that a financial system without a privacy layer is inherently flawed. From transaction records to position information, the transparency of all data can bring openness on the chain but also limits the depth of mechanism applications.

This is why some teams are systematically building privacy infrastructure — not as a functional module, but as the underlying architecture of on-chain finance. In the long run, these solutions will define the competitive landscape of the next generation of DeFi.