Last updated a month ago
Cardano has no privacy-preserving trading venue. Large on-chain orders expose intent, causing front-running, manipulation, and deterring high-volume traders and institutions from using Cardano DeFi.
zkTrade is a Cardano-native zero-knowledge trading layer that lets users place and execute private orders while keeping balances, order size, and strategy confidential, yet fully verifiable on-chain.
Please provide your proposal title
zkTrade: Zero-Knowledge Private Trading Layer for Cardano
Enter the amount of funding you are requesting in ADA
200000
Please specify how many months you expect your project to last
10
Please indicate if your proposal has been auto-translated
No
Original Language
en
What is the problem you want to solve?
Cardano has no privacy-preserving trading venue. Large on-chain orders expose intent, causing front-running, manipulation, and deterring high-volume traders and institutions from using Cardano DeFi.
Does your project have any dependencies on other organizations, technical or otherwise?
No
Describe any dependencies or write 'No dependencies'
No dependencies
Will your project's outputs be fully open source?
No
Please provide details on the intellectual property (IP) status of your project outputs, including whether they will be released as open source or retained under another licence.
The entire zkTrade codebase (smart contracts, ZK circuits, off-chain engine, and frontend) will be released as open source under the Apache 2.0 License.
Please choose the most relevant theme and tag related to the outcomes of your proposal
DeFi
Describe what makes your idea innovative compared to what has been previously launched in the market (whether by you or others).
Public blockchain trading exposes sensitive information to the entire market. When high-volume traders or market makers place large limit orders on transparent DEXs, their intentions become immediately visible. This often triggers harmful pre-trade behaviours such as front-running, FOMO buying, or panic selling. As a result, major liquidity providers and institutions hesitate to execute meaningful trades on-chain due to the risk of adverse market impact.
Cardano currently lacks a mechanism that allows traders to execute large orders without revealing their strategy, identity, or order size. For these users, transparency becomes a liability rather than a benefit.
zkTrade introduces a completely new capability for Cardano — a zero-knowledge powered, privacy-preserving trading layer designed for large traders, market makers, and advanced DeFi users.
Key innovations:
Why it is unique:
Our research shows that no Cardano-native, ZK-powered private trading layer currently exists. zkTrade combines private order flow, cryptographic proofs, and on-chain settlement into a single, coherent product. It is not a generic ZK demo — it is a targeted solution for a real, high-value trading problem on Cardano.
Describe what your prototype or MVP will demonstrate, and where it can be accessed.
The zkTrade MVP will demonstrate an end-to-end, privacy-preserving trading experience running on Cardano testnet, allowing real users to interact with a functional zero-knowledge trading prototype.
Core MVP features:
Access & documentation:
Describe realistic measures of success, ideally with on-chain metrics.
We define success through a combination of on-chain metrics, user adoption indicators, and ecosystem impact, all of which can be measured and reported transparently.
Target: At least 2,000+ deposit/withdrawal transactions within the first 12 months.
Meaning: Demonstrates that traders are actively using zkTrade to manage private liquidity on-chain.
Target: 10,000+ private orders submitted and at least 3,000+ successfully executed settlements on testnet/mainnet over the first year.
Meaning: Validates that zkTrade is being used for real trading rather than as a proof-of-concept only.
Target: A meaningful and growing volume of ADA/tokens transacted via zkTrade (tracked through settlement contracts).
Meaning: Indicates that zkTrade is capturing a non-trivial share of on-chain trading activity that requires privacy.
Target: 15,000+ ZK verification calls related to deposits, orders, and settlements.
Meaning: Confirms that zero-knowledge proofs are being used at scale, not just in isolated tests.
Target: 1,000+ unique wallets interacting with zkTrade and at least 30–40% of them returning for multiple trading sessions.
Meaning: Indicates real user satisfaction and repeated value.
Target: 50+ community feedback items (issues, suggestions, improvements) collected via Discord/Telegram, GitHub, and surveys.
Meaning: Shows active engagement and a feedback loop used to refine the product.
Target: At least 3–5 collaborations with Cardano projects (DEXs, liquidity managers, institutional desks, or DAO treasuries) exploring zkTrade integration.
Meaning: Demonstrates that zkTrade serves as composable infrastructure, not just a standalone product.
All these metrics will be tracked and reported in Catalyst progress updates and the final report, providing a clear view of zkTrade’s real impact on the Cardano ecosystem.
Please describe your proposed solution and how it addresses the problem
zkTrade directly addresses the core limitation of transparent DeFi trading: the inability to execute large orders without revealing strategy, order size, and wallet balances.
On Cardano today, any sizeable order placed on a DEX becomes visible to all market participants. This can trigger front-running, predatory bot behaviour, FOMO, and panic selling. Institutions, whales, and market makers are therefore reluctant to move serious size on-chain.
How zkTrade solves this:
By providing a Cardano-native, zero-knowledge trading layer, zkTrade turns transparency from a liability into an asset, making high-value, professional trading feasible on-chain.
Please define the positive impact your project will have on the wider Cardano community
zkTrade is designed to create both immediate and long-term positive impact on the Cardano ecosystem.
Overall, zkTrade expands Cardano’s economic bandwidth, strengthens its technical reputation, and provides critical infrastructure for the next wave of DeFi and institutional activity.
What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?
Our team combines deep experience in blockchain development, zero-knowledge engineering, backend systems, and Web3 UX design.
Team expertise:
Feasibility & validation approach:
Trust & accountability:
Given our combined experience and the structured plan, we are confident in our ability to deliver zkTrade with high levels of trust, technical quality, and accountability.
Milestone Title
Architecture & Research
Milestone Outputs
Detailed system architecture for zkTrade, including on-chain/off-chain components and data flows.
ZK circuit design plan for deposits, orders, and settlements.
Defined EUTxO transaction flows and reference transaction patterns.
Comprehensive design document covering smart contracts and off-chain engine integration.
Acceptance Criteria
Completion of detailed architecture diagrams and technical design.
ZKP feasibility report confirming that the chosen proving system and circuit designs are viable.
Design document reviewed and approved internally by lead engineers and PM.
Evidence of Completion
GitHub link to architecture and SRS documents.
Published ZKP feasibility report.
Internal approval notes or PR reviews confirming design sign-off.
Delivery Month
1
Cost
20000
Progress
10 %
Milestone Title
Smart Contract Development
Milestone Outputs
Plutus smart contracts for deposits, commitments, private order registration, settlement, and withdrawals.
Datum and redeemer structures for ZK commitments and settlement proofs.
Unit test suite for all main contract functions.
Internal test deployment on a private or dev testnet.
Acceptance Criteria
Contracts compile successfully and pass all unit tests.
Core flows (deposit, order registration, settlement stub, withdrawal) can be simulated using CLI or integration scripts.
Code reviewed and approved in GitHub.
Evidence of Completion
GitHub repository with contract source code and tests.
Test logs or CI outputs demonstrating successful execution of core flows.
Internal demo or simulation report.
Delivery Month
2
Cost
40000
Progress
20 %
Milestone Title
ZK Circuits & Off-chain Engine
Milestone Outputs
Implementation of ZK circuits for balance sufficiency, order validity, and settlement correctness.
Off-chain matching engine that processes anonymized orders and generates settlement candidates.
Integration between ZK circuits, matching engine, and smart contracts.
Integration tests covering end-to-end private order → match → settlement flow.
Acceptance Criteria
ZK circuits generate valid proofs for the intended constraints.
Matching engine successfully matches anonymized orders and produces settlement transactions consumable by contracts.
All integration tests pass under expected load.
Performance benchmarks documented for proof generation and verificatio
Evidence of Completion
GitHub repo with ZK circuit code and matching engine implementation.
Integration test reports and performance benchmarks.
Demo scripts or recordings showing end-to-end flow.
Delivery Month
3
Cost
60000
Progress
30 %
Milestone Title
Frontend & Wallet Integration
Milestone Outputs
User interface for deposits, private order creation, and order status tracking.
Wallet integration via CIP-30 for Nami, Eternl, Flint, etc.
Personal order dashboard displaying pending, matched, and executed orders privately.
Initial UX testing feedback collected and incorporated.
Acceptance Criteria
Users can connect wallets, deposit into the pool, submit private orders, and see their status via the UI.
All key flows are working end-to-end on an internal test environment.
UX refinements applied based on initial tester feedback.
Evidence of Completion
Deployed internal demo URL.
UI source code and integration code on GitHub.
UX test notes or summary report.
Delivery Month
1
Cost
30000
Progress
10 %
Milestone Title
Testnet Deployment & QA
Milestone Outputs
zkTrade deployed to Cardano public testnet.
Comprehensive QA across functional, security, and integration aspects.
Bug fixing and performance tuning based on testnet behaviour.
Initial external security review or audit.
Acceptance Criteria
All core zkTrade features (deposits, private order submission, matching, settlement, and withdrawals) run reliably on Cardano public testnet without blocking defects.
End-to-end scenarios are tested under realistic load, with no critical or high-severity bugs remaining open.
ZK proof generation and verification behave deterministically, and contract executions succeed as designed.
Evidence of Completion
Public testnet URL for zkTrade.
QA report summarizing tests and results.
Security review or audit summary.
Delivery Month
2
Cost
30000
Progress
20 %
Milestone Title
Reporting & Final Delivery
Milestone Outputs
Final technical documentation (contracts, ZK circuits, engine, UI).
User and developer guides.
Recorded demo of zkTrade in action on testnet.
Catalyst final report summarizing outcomes, metrics, and next steps.
Acceptance Criteria
Documentation is complete, fully published on GitHub, and includes technical architecture, smart contract specifications, ZK circuit details, backend engine logic, and user guides.
The final public demo is accessible, reproducible, and demonstrates all key zkTrade features on testnet.
A comprehensive Catalyst final report is prepared and submitted, including metrics, outcomes, and lessons learned.
Evidence of Completion
All final documentation is published on GitHub, including technical specs and user guides.
A complete demo video is provided.
Catalyst final report submitted through the official channel.
Delivery Month
1
Cost
20000
Progress
10 %
Please provide a cost breakdown of the proposed work and resources
The total requested budget of 200,000 ADA is allocated across four essential roles required to design, develop, integrate, and deliver zkTrade with full transparency and accountability.
Smart Contract & Zero-Knowledge Engineer – 70,000 ADA
Develops Plutus smart contracts, zero-knowledge circuits, proof validation logic, and ensures secure integration between on-chain and off-chain components.
Smart Contract / Backend & Matching Engine Engineer – 55,000 ADA
Builds the backend infrastructure, matching engine, and settlement orchestration. Ensures stable, scalable off-chain processes that align with ZK constraints and contract logic.
Frontend Engineer – 35,000 ADA
Implements the user interface, wallet integration (CIP-30), private order submission flow, and personal dashboard, ensuring an intuitive and secure user experience.
Product Manager – 40,000 ADA
Leads requirement design, roadmap planning, milestone coordination, QA alignment, reporting, documentation, community engagement, and ensures the final product meets Catalyst standards. This role is critical given the complexity of ZK-based systems.
How does the cost of the project represent value for the Cardano ecosystem?
The requested 200,000 ADA delivers strong value because it funds a complex, high-impact infrastructure project that does not currently exist on Cardano: a zero-knowledge, privacy-preserving trading layer for professional and high-volume users.
1. Fills a critical infrastructure gap
Cardano lacks a native, ZK-powered private trading venue. zkTrade provides essential functionality for professional traders, institutions, and large treasuries who require confidentiality to operate on-chain.
2. High leverage as reusable infrastructure
The components of zkTrade (contracts, ZK circuits, off-chain engine) can be reused or extended by other DeFi and DAO projects. This multiplies the ecosystem benefit well beyond a single application.
3. Strong on-chain impact and measurable metrics
The project is designed to generate real, verifiable on-chain activity: deposits, orders, settlements, and ZK verifications. These metrics can be reported transparently to demonstrate ROI for Catalyst and Cardano.
4. Competitive cost for advanced ZK + DeFi development
Zero-knowledge and institutional-grade trading systems are complex and typically expensive to build. Comparable systems on other chains often cost significantly more when including audits and infrastructure. By leveraging an experienced, focused team, zkTrade can be delivered at a cost-effective level for the scope.
5. Future-proofing Cardano for institutional adoption
As institutions increasingly explore blockchain, privacy-preserving trading becomes a baseline expectation. zkTrade positions Cardano as a serious option for such use cases. This is a strategic investment that can attract long-term liquidity and reputation.
6. Sustainable alignment with Catalyst goals
The budget is milestone-based, transparent, and focused on long-term infrastructure rather than short-term marketing. This aligns well with Catalyst’s aim to fund enduring, ecosystem-level improvements.
I confirm that evidence of prior research, whitepaper, design, or proof-of-concept is provided.
Yes
I confirm that the proposal includes ecosystem research and uses the findings to either (a) justify its uniqueness over existing solutions or (b) demonstrate the value of its novel approach.
Yes
I confirm that the proposal demonstrates technical capability via verifiable in-house talent or a confirmed development partner (GitHub, LinkedIn, portfolio, etc.)
Yes
I confirm that the proposer and all team members are in good standing with prior Catalyst projects.
Yes
I confirm that the proposal clearly defines the problem and the value of the on-chain utility.
Yes
I confirm that the primary goal of the proposal is a working prototype deployed on at least a Cardano testnet.
Yes
I confirm that the proposal outlines a credible and clear technical plan and architecture.
Yes
I confirm that the budget and timeline (≤ 12 months) are realistic for the proposed work.
Yes
I confirm that the proposal includes a community engagement and feedback plan to amplify prototype adoption with the Cardano ecosystem.
Yes
I confirm that the budget is for future development only; excludes retroactive funding, incentives, giveaways, re-granting, or sub-treasuries.
Yes
I Agree
Yes
Our team consists of three senior engineers and one dedicated product manager, combining expertise across smart contracts, zero-knowledge cryptography, backend infrastructure, frontend development, and product delivery. Each member has publicly verifiable GitHub and LinkedIn profiles demonstrating real experience in blockchain, cryptography, and DeFi systems.
Gary Nguyen - Smart Contract & Zero-Knowledge Engineer
This engineer leads the design and implementation of all Plutus smart contracts, including deposit logic, private order commitments, settlement validation, and withdrawal mechanisms. They also develop and optimize the zero-knowledge circuits used for balance proofs, order validity, and settlement correctness. Their dual knowledge in Aiken/Plutus and modern ZK frameworks (Halo2, Noir, SnarkJS) ensures that on-chain logic and ZK proofs are tightly aligned, secure, and efficient.
Kairos Vu - Smart Contract, Backend & Matching Engine Engineer
This engineer works alongside the ZK developer to expand smart contract capabilities, handle datum structures, proof verification pathways, and settlement scripts. They also lead backend and infrastructure development, including the off-chain matching engine, order orchestration, secure proof generation pipelines, and deterministic settlement flows. Their experience with distributed systems and high-load backend architectures ensures the system remains robust, scalable, and fault-tolerant.
Hiep Nguyen - Frontend Engineer
Responsible for building the zkTrade user interface, this engineer develops the wallet integration layer (CIP-30), private order submission screens, and the personal order dashboard. They translate complex privacy-preserving workflows into an intuitive, easy-to-use interface suitable for both technical and non-technical users. Their focus is on UX clarity, performance, and accessibility while maintaining strict privacy and security boundaries.
Wendy Dau - Product Manager
The PM oversees requirement management, feature prioritization, milestone delivery, quality assurance coordination, and Catalyst reporting. They maintain communication with the community, gather user feedback, and ensure that the product roadmap aligns with Catalyst goals and the broader Cardano ecosystem. Their experience in software delivery and blockchain project management ensures transparency, accountability, and timely execution across all milestones.
Why this team is capable of delivering zkTrade
This structure allows deep specialization while keeping the team small and efficient. Each developer covers a critical domain - smart contracts, ZK, backend, and frontend - ensuring that all technical layers of zkTrade are owned by experienced professionals. The product manager provides oversight, documentation, and communication, guaranteeing consistent progress and high-quality outputs throughout the Catalyst funding cycle.