
Daily drops on the Miden ecosystem | ZK tech, builders, product updates & everything shaping private finance | Unofficial @0xmiden
Joined May 2021
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Introducing @0xMiden — What sets it apart from other privacy projects:
▫️ Programmable Practical Privacy
▫️ Quantum-resistant tech, future proof
▫️ Ultra scalability
With real-world use cases:
Onchain payroll, private multisig, prediction markets & stablecoins, and many more...
Miden Daily retweeted
Key takeaways from Ink’s X Space, with @StaniKulechov, @flipdazed, @itsgleninnit & @RhettShipp:
First up: @avantprotocol introduced $avkBTC, connecting Avant, @tydrohq and @inkonchain. KBTC provides Bitcoin-backed collateral held in Kraken custody, Tydro v2 provides the lending market, while Ink settles the activity. Stablecoins borrowed against KBTC are deployed into Avant’s dollar-denominated, market-neutral strategy, with the yield used to buy more KBTC.
Next up: @avantprotocol - Rhett Shipp also discussed its fully on-chain products: avUSD, avBTC, avETH and now avkBTC.
Its strategies include crypto "carry" trades and Aave/Ethena and Maple loops, but the focus is risk-adjusted yield—not simply the highest APY. Reserves, senior and junior tranches, security, key management, monitoring and deep protocol due diligence are central to the model.
Rhett also discussed a major market-stress event like rsETH event where Avant said it unwound roughly $4.5B of notional positions in five days. The strategy reportedly lost about 20 basis points, which reserves absorbed, with no losses passed to the senior or junior tranches.
And then Stani talked about @aave V4’s hub-and-spoke model: isolated markets can set their own risk parameters while accessing shared, capped liquidity from existing hubs. This is designed to help new markets launch and bring tokenized stocks, bonds and other RWAs on-chain
Ended with Alex’s and his institutional background, gave a checklist on what institutions are looking at such as: hack risk, settlement, governance, custody, counterparty strength, and transparent leverage. He also stated that DeFi still needs better LTV models, cross-margining, initial-margin standards, clearing, and visibility into rehypothecation.
The broader message is: DeFi will not scale because of high APYs alone. It will scale when risk is measurable, custody is credible, liquidity is reliable and financial products are transparent enough for institutions and everyday users to trust - AND THAT is why onchain lending hasn’t replaced traditional banks
Why hasn't onchain lending replaced traditional banks?
A conversation with industry leaders / Thursday / 2:30pm ET
@StaniKulechov (@aave) · largest onchain lending platform
@flipdazed (@KeyringNetwork) · verified counterparties
@RhettShipp (@avantprotocol) · bitcoin yield strategies
@itsgleninnit (@inkfndhq) · the venue putting it together
Put it on your calendar 👇.
Miden Daily retweeted
Don’t forget the OG @inkonchain NFT collections that helped shape the ecosystem:
🔹 @KrakMask
🔹@Shellies_NFTs
🔹@WatchDogsOnInk
🔹@BertOnInk
🔹@Inkscore
🔹@RektInk
🔹@SquidsOnInk
🔹@InkPurpleWave
🔹@DogOfInk
🔹@Wizart_INK
🔹@RaccoonFi
🔹@InkBunniesNFT
🔹@CatOnInkChain
Miden Daily retweeted
Highlights from the @inkonchain ecosystem over the last 7 days:
NEWS
▫️ Buzz around Kraken/Payward’s acquisitions of NinjaTrader and Bitnomial, completing its U.S. CFTC-regulated derivatives stack.
▫️ Ink continues to gain builder interest and onchain momentum.
HIGHLIGHT
▫️ @Quotrons404 — founded by @cruelhandeth, a member of the Ink team — recently teased that its upcoming network will launch on Ink.
LAUNCHES
NFT collections are heating up again, with a wave of new launches across the Ink ecosystem:
▫️ @Quotrons404 V2
▫️ @Brokers_on_Ink
▫️ @INK20scriptions
▫️ @InkersonInk
▫️ @memeowfun
▫️ @TheInkkitties
▫️ @InkHuman
▫️ @4bitink
▫️ @griff_ink
▫️ @OtterOnInk
▫️ @InkApe_
▫️ @InkLordsNFT
▫️ @TheInkyLabs
Miden Daily retweeted
"Jobs Not Finished" - Kobe Bryant
Highlights from the @inkonchain ecosystem over the last 7 days:
NEWS
▫️ Buzz around Kraken/Payward’s acquisitions of NinjaTrader and Bitnomial, completing its U.S. CFTC-regulated derivatives stack.
▫️ Ink continues to gain builder interest and onchain momentum.
HIGHLIGHT
▫️ @Quotrons404 — founded by @cruelhandeth, a member of the Ink team — recently teased that its upcoming network will launch on Ink.
LAUNCHES
NFT collections are heating up again, with a wave of new launches across the Ink ecosystem:
▫️ @Quotrons404 V2
▫️ @Brokers_on_Ink
▫️ @INK20scriptions
▫️ @InkersonInk
▫️ @memeowfun
▫️ @TheInkkitties
▫️ @InkHuman
▫️ @4bitink
▫️ @griff_ink
▫️ @OtterOnInk
▫️ @InkApe_
▫️ @InkLordsNFT
▫️ @TheInkyLabs
Miden Daily retweeted
Beyond all the buzz across the @inkonchain ecosystem,
Ink and its flagship apps have posted significant metric gains over the last 7 days:
🔥 INK NETWORK METRICS
▫️ Active addresses: 32.63K — up 12%
▫️ Transactions: 2.11M — up 3.60%
▫️ Stablecoin supply: $297.48M — up 14%
▫️ Total value secured: $189.81M — up 8.90%
💎FLAGSHIP APPS
NADO (@nadoHQ)
▫️ 7D trading volume: $3.037B — up 373.10%
TYDRO (@tydrohq)
▫️ Total value secured: $63.59M — up 13.06%
The sleeping giants are waking up 👀
Highlights from the @inkonchain ecosystem over the last 7 days:
NEWS
▫️ Buzz around Kraken/Payward’s acquisitions of NinjaTrader and Bitnomial, completing its U.S. CFTC-regulated derivatives stack.
▫️ Ink continues to gain builder interest and onchain momentum.
HIGHLIGHT
▫️ @Quotrons404 — founded by @cruelhandeth, a member of the Ink team — recently teased that its upcoming network will launch on Ink.
LAUNCHES
NFT collections are heating up again, with a wave of new launches across the Ink ecosystem:
▫️ @Quotrons404 V2
▫️ @Brokers_on_Ink
▫️ @INK20scriptions
▫️ @InkersonInk
▫️ @memeowfun
▫️ @TheInkkitties
▫️ @InkHuman
▫️ @4bitink
▫️ @griff_ink
▫️ @OtterOnInk
▫️ @InkApe_
▫️ @InkLordsNFT
▫️ @TheInkyLabs
Private intents, public settlement. That's the @0xEpochProtocol x @0xMiden setup.
Epoch is a solver coordination layer. Funds lock in escrow on the source chain, solvers front their own liquidity on the destination chain, and once the settlement proof clears, escrow releases and the solver gets paid.
The Miden piece: Epoch runs two accounts, one private and one public. You deposit into the private account, where Miden hides balance, sender, and origin by default (the network only stores cryptographic commitments). Epoch then moves the funds to the public account with a ZK proof and broadcasts the intent to solvers.
The trade is visible to whoever fills it. Your position and history stay hidden.
Where it fits:
- Trading desks enter and exit without leaking size or strategy
- Payroll ships as one intent, individual salaries stay private
- Compliance gets selective disclosure, not the all-or-nothing of a mixer
Backing: $1.2M in Sept 2025 from L2IV, Alphemy, Safe, G20, Longhash and Hadron, plus angels Anurag Arjun (Avail) and Adrian Brink (Anoma).
The payroll case is the sleeper. Proving one aggregate number to an auditor without exposing every line is the thing mixers were never able to do.
Introducing @0xMiden — What sets it apart from other privacy projects:
▫️ Programmable Practical Privacy
▫️ Quantum-resistant tech, future proof
▫️ Ultra scalability
With real-world use cases:
Onchain payroll, private multisig, prediction markets & stablecoins, and many more...
On the talk of privacy, Ethereum keeps showing where it stands.
With the introduction of the ETH System, the EF's Institutional Privacy Task Force has spun out into an independent company built for banks.
The problem nowadays is that Ethereum is a public ledger. Balances, positions, and counterparties are visible to anyone. Regulated institutions legally cannot expose that data, so they stay away.
So EthSystems sells the fix directly:
- Workshops that turn privacy into a hard requirement
- Proofs of concept: private payments, tokenized assets, selective disclosure, private settlement
- Architecture reviews stress-tested against Ethereum-native constraints
- Production systems integrated with existing vendors
The EthSystem team is credible:
- Mo Jalil (CEO, ex-Goldman)
- Oskar Thorén
- Aaryamann Challani
They all spent the past year inside the EF talking to central banks, regulators, tier-one banks, and asset managers to understand the needs and demands for institutional privacy.
With backing from BitMine, SharpLink, Joe Lubin, and SNZ, it shows that these figures believe in the vision and where the future is headed.
The privacy future is bright, and Miden is at the forefront of it all.
We think we're approaching the "all at once" stage.
Quietly in the recent cycle, crypto has been maturing into something that not alot of people noticing: infrastructure.
The banking side is what makes this self-reinforcing. Once banks have to compete with staking yields, they can't sit still. If one major player adopts, the rest have no real choice but to follow. And yield is only part of the pitch. Faster settlement, stronger security, lower costs, higher efficiency. Hard to argue against once regulation stops being the blocker.
That blocker is fading. CFTC and SEC guidance is turning constructive, banks are starting to move, and the major liquidity pools are beginning to connect: retail capital, bank deposits, pension money, institutional flows. New banks like Erebor are being built specifically to consolidate crypto and banking into one ecosystem.
So while everyone watches the highway waiting for the flashy cars to return (tokens, NFTs, speculation), the real money is in owning the highway and collecting from the boring traffic running on it every day: stablecoins, RWAs, tokenization. This is the settlement layer of the next financial age, and the U.S. government clearly wants America leading it as it scales globally.
The other half of this is the user side. The endgame is crypto you don't see.
For years crypto felt like its own separate world. The setup was too complex, the UX too rough, and the average user had to understand too much. AI changes that. People will simply ask for what they need: payments, automations, identity checks, escrow, settlement, data access, ownership transfers, agent-to-agent transactions. Under the hood, crypto rails get chosen because they're cheaper and more efficient than legacy finance. Anything that needs to transact, verify, settle, or coordinate value can run on open infrastructure.
The user won't think "I'm using crypto." They'll think "this just works."
That's the real new bull market. Crypto stops being a product people have to understand and becomes invisible rails that let users and AI agents build, coordinate, and move value at a fraction of today's cost.
The tell today won't be price action. Watch stablecoin settlement volume and bank pilots. Boring numbers, but that's where "all at once" shows up first.
This week on the Privacy Podcast, Ben Schiller speaks with @GordonLiao, Chief Economist at @Circle, about stablecoins, why institutions need privacy, and the case for AI agents becoming the largest users of stablecoins.
youtube.com/watch?v=xo8aAo5U…
🔥 Privacy sectors is leading the Crypto market in the last 12 months
🏆 Privacy: +127.3%
▫️ Exchange tokens: -11.6%
▫️ Ethereum: -30.5%
▫️Bitcoin: -41.8%
▫️AI: -51.9%
▫️RWA: -62.1%
▫️Memecoins: -64.9%
▫️Perp DEXs: -75.3%
▫️DePIN: -77.6%
▫️Data Availability: -77.9%
Privacy infrastructure continued to evolve and mature this week as EthSystems turned Ethereum’s institutional privacy work into a company; Project Eleven built a privacy-preserving proof for post-quantum wallet ownership; and Symbiosis brought private transfers to TRON.
🔥 Eli Ben-Sasson - @EliBenSasson shared his insight after 12 years of privacy grind, in the latest @0xMiden Privacy Podcast:
▫️ His word for the Zcash years: brutal. Weak token, thin funding, a market that didn't care. Then privacy became one of the best trades of the year and ZEC turned into the schelling point for the whole narrative.
▫️ StarkWare runs payroll on Starknet, and anyone with a block explorer can estimate salaries. His CFO splits payments to hide the numbers. So the first privacy product they ship will be their own payroll.
▫️ Old shielding never scaled. Proofs ran on your own phone, transfers only, and touching DeFi meant unshielding everything first.
▫️ The new answer is operators. They build the proofs and bundle shielded transactions, so all you see is a shielded swap. The trade: operators see your activity. He owns that choice openly.
▫️ Stark BTC is live. Shielded Bitcoin you can stake and earn yield on. Stark20 comes next, one click to shield any ERC20 on Starknet.
▫️ On institutions: an ETF is exposure to the asset, not adoption of the tech. Privacy turns mandatory the day companies run payroll and treasury onchain.
▫️ Crypto still has no product market fit in his view. Everyone's mom uses AI. Nobody's mom uses crypto. Add anticipation plus investable tokens and you get a market trading years ahead of reality.
👁️ 5 year picture: ZK ends up like SSL. A padlock nobody looks at, quietly securing every transaction underneath. Exactly what payroll and treasury onchain will run on.
He also gave @0xMiden team a lot of respect for the progress on privacy!
What happened in privacy crypto last week:
▫️ @Zcash Orchard crisis & recovery
A 4-year-old counterfeiting flaw in the Orchard shielded pool was found on May 29 using Claude Opus 4.8.
The follow-up Mythos AI audit found no new serious bugs.
▫️ @monero got audited next
The same researcher reviewed Monero, with no known bug found as of June 18.
▫️ Institutional stablecoins need privacy
@0xMiden hosted a stablecoin privacy panel with Paxos, JPMorgan and Consensys.
The takeaway: speed and cost are mostly solved. Confidentiality is now the roadblock for institutional volume.
▫️ TRM Labs crime report
No-KYC service inflows are up 200%, while traditional mixer volume is down 37% YTD.
Demand is not disappearing. It is migrating to new privacy tools.
▫️ Privacy sector resilience
Privacy market cap stayed around $41.7B despite 60+ project delistings.
▫️ Google quantum update
Google cut the estimated qubits needed to break Ethereum by 20x, putting post-quantum security back in focus.
▫️ DCG x Harris Poll
84% of U.S. voters surveyed believe individuals, not companies, should own their personal data.
55% are more likely to use services that do not exploit their data.
▫️ Tornado Cash governance attack
The attacker withdrew around 664 ETH and sold the stolen funds for roughly $1.6M.
▫️ Kraken x Canton
Kraken enabled USDCx deposits and withdrawals on Canton, bringing USDC access to a privacy-focused institutional chain built for selective disclosure, sub-transaction privacy and atomic settlement.
The privacy narrative is no longer just about mixers.
It is becoming about institutional settlement, stablecoin confidentiality, personal data ownership and post-quantum security.
Banking Without Borders starts with fixing the rails behind it.
Freelancers & cross-border workers today face real payment difficulties:
▫️ Days to settle
▫️ 8–12% lost to fees, FX spreads, and legacy rails
▫️ Limited access to dollar balances
▫️ Fragmented regional banking coverage
@Sempoxyz is here to fix that:
One regional account to receive payments, hold stable dollar balances, send money instantly, and convert locally when needed.
But behind that, @0xMiden is bringing its flagship invisible infrastructure layer:
▫️ Private balances
▫️ Private transaction histories
▫️ Private payment flows
▫️ Private stablecoin payments
For Sempo, that means faster payments, lower-cost rails, private user accounts, and compliance-ready financial flows.
Neobanks don’t need just a better frontend. They need programmable privacy infrastructure, the exact thing Miden brings.
"We're building for people who've never touched crypto and never want to," says Marvin Mujko, co-founder of Sempo, in an interview.
"That means the infrastructure has to be invisible. Miden lets us keep everything – balances, transaction histories, payment flows – completely private while still running on programmable blockchain rails. That's what makes the product possible."
miden.xyz/blog/banking-witho…
OpenZeppelin Is Miden’s First Guardian Operator 🛡️
The team that helped build Guardian is now the first to run it.
▫️ @OpenZeppelin — Industry standard for onchain security
▫️ Specializes in smart contracts, ZK systems, dev tooling, and privacy infrastructure
▫️ Co-created Guardian alongside the @0xMiden team
▫️ Manages the Guardian implementation
▫️ Now operating as Miden’s first Guardian Operator
Guardian makes private accounts usable in real products — from payroll and remittance to business accounts.
With OpenZeppelin bringing its security standards into Miden’s private account layer, this is a strong step toward making private finance infrastructure production-ready.
Building Before the Crowd Arrives
Most infrastructure firms wait for production readiness before getting involved, not with @0xMiden!
Introducing @class_lambda:
The 100+ engineer cryptography firm has joined Miden as a Guardian Operator, helping run critical services that power private accounts, including backup, recovery, synchronization, and multi-signer coordination.
Why it matters:
▫️ Deep expertise in cryptography & distributed systems
▫️ Operating core infrastructure before mainnet scale
▫️ Helping stress-test and harden Miden's private account model
▫️ Laying foundations for real-world private finance applications
Building Before the Crowd Arrives
Most infrastructure firms wait for production readiness before getting involved, not with @0xMiden!
Introducing @class_lambda:
The 100+ engineer cryptography firm has joined Miden as a Guardian Operator, helping run critical services that power private accounts, including backup, recovery, synchronization, and multi-signer coordination.
Why it matters:
▫️ Deep expertise in cryptography & distributed systems
▫️ Operating core infrastructure before mainnet scale
▫️ Helping stress-test and harden Miden's private account model
▫️ Laying foundations for real-world private finance applications
How to Get Started with the Miden Wallet Testnet 🔶
1️⃣ Create Your Miden Wallet
▫️ Download the wallet extension from the Chrome Web Store
▫️ Set up your wallet
▫️ Save your seed phrase
▫️ Verify your seed phrase
▫️ Create a password
▫️ You're ready to go
2️⃣ Try the Testnet
▫️ Click the Faucet icon in your wallet
▫️ Open the faucet page
▫️ Enter your wallet address and desired amount
▫️ Choose between a PUBLIC or PRIVATE note
▫️ Return to your wallet → Receive → Claim your note
3️⃣ Invite a Friend & Try the testnet together
▫️ Open your wallet and click Send
▫️ Enter the recipient address
▫️ Toggle Private Payment mode ON/OFF
▫️ Send the transaction
▫️ Recipient opens Wallet → Receive → Claim note
One of the easiest ways to understand Miden's private notes model is to try it yourself.
Send a few test transactions between wallets and experience how private transfers work 🛡️.
What's Behind a Private @0xMiden Transaction? 👀
Here's the flow:
1️⃣ Propose — A signer creates a transaction locally and sends a proposal to the Guardian Server
2️⃣ Validate — Guardian checks the proposal against the latest account state and Miden Network commitments
3️⃣ Sign — Other authorized signers fetch the proposal, verify details locally, and submit their signatures
4️⃣ Ready — Once the signature threshold is reached (e.g. 2-of-3), Guardian emits an acknowledgment
5️⃣ Execute — A signer generates the final transaction, attaches the Guardian acknowledgment + signatures, and submits a ZK proof to Miden
6️⃣ Confirm — The network commits the new state and notifies Guardian
7️⃣ Sync — All participants fetch the latest canonical state and remain perfectly synchronized
A private multisig transaction on @0xMiden is about coordinating multiple parties without exposing account state.
How to Get Started with the Miden Wallet Testnet 🔶
1️⃣ Create Your Miden Wallet
▫️ Download the wallet extension from the Chrome Web Store
▫️ Set up your wallet
▫️ Save your seed phrase
▫️ Verify your seed phrase
▫️ Create a password
▫️ You're ready to go
2️⃣ Try the Testnet
▫️ Click the Faucet icon in your wallet
▫️ Open the faucet page
▫️ Enter your wallet address and desired amount
▫️ Choose between a PUBLIC or PRIVATE note
▫️ Return to your wallet → Receive → Claim your note
3️⃣ Invite a Friend & Try the testnet together
▫️ Open your wallet and click Send
▫️ Enter the recipient address
▫️ Toggle Private Payment mode ON/OFF
▫️ Send the transaction
▫️ Recipient opens Wallet → Receive → Claim note
One of the easiest ways to understand Miden's private notes model is to try it yourself.
Send a few test transactions between wallets and experience how private transfers work 🛡️.



























