Kryptos Finance
Kryptos Finance is a private borrow-lend protocol on Horizen — a confidential-computing L3 on Base. It works like the lending markets you already know (Aave, Compound, Euler): deposit collateral, borrow against it, repay, get liquidated if you fall behind. The difference is what's visible while you do it.
On a typical lending market, every position is a public ledger entry. Anyone can see exactly how much collateral you're holding, how much you owe, and how close you are to liquidation — a standing, permanent, queryable record tied to your wallet. For an individual it's an unwanted disclosure; for a treasury, a fund, or a market maker sizing real credit on-chain, it's often disqualifying.
Kryptos keeps a position's collateral, debt, and health factor out of contract storage entirely. Nothing about them is submitted in plaintext, ever. Instead, every deposit, withdrawal, borrow, repayment, and liquidation is accompanied by a real Groth16 zero-knowledge proof — generated in your browser, verified on-chain — that the position remains solvent and internally consistent, without disclosing the numbers behind it.
Why zero-knowledge, not a TEE
There are two broad ways to build confidential DeFi: trusted hardware (a TEE attests that it ran the logic correctly, without revealing inputs) or zero-knowledge proofs (a proof attests the same thing, independent of any hardware you have to trust). Kryptos takes the second path, verified through zkVerify. Every proof in this system is a real Groth16 SNARK you can independently verify against the circuit source in this repository — there's no enclave, no closed beta, and no operator whose word you have to take for it.
What's actually private, in one sentence
Your exact collateral, debt, and health factor never touch contract storage or any proof verifier in plaintext — but the public event log (who transacted, roughly when, in what amount) is not hidden, and a patient observer can reconstruct a position's running balance by replaying it. This is stated plainly, not discovered the hard way — see Privacy Threat Model for the full picture, including a working tool that performs exactly that reconstruction against a real wallet.
Where to go next
- New to the app? Start with Getting Started.
- Want the mechanism, not just the pitch? Read How Privacy Works and Architecture.
- Evaluating the privacy claim specifically? Go straight to Privacy Threat Model.
- Looking for contract addresses? See Deployed Contracts.