ShapeShift, a decentralized non-custodial trading platform, is teaming up with Zcash to bring shielded transactions directly to its users.
Summary
- Decentralized non-custodial exchange ShapeShift has integrated with Zcash to enhance network privacy for users.
- The integration will see users benefit from shielded transactions across Bitcoin, Ethereum and other blockchains.
- Zcash community has allocated a $50,000 grant to ShapeShift.
ShapeShift’s integration with the privacy-focused blockchain network is a major move that sees the trading platform join a small group of exchanges tapping into shielded transactions for true on-chain privacy. More than that, integrating with Zcash means the community-led multichain decentralized exchange aggregator is not “defunct,” as has been rumored in recent months.
Why is this important
The integration affirms Zcash (ZEC) and ShapeShift’s commitment to privacy and user protection, with this coming amid regulatory scrutiny of projects within the crypto privacy market.
“Privacy shouldn’t be scary, but trading ZEC on centralised exchanges often is. Their very structure and legal risk kill true privacy. This partnership puts control back in the user’s hands. It is a perfect use case for our DAO structure and multichain functionality. We want to show that crypto can remain open, accessible, and private — just as it was always meant to be,”said Houston Morgan, growth and community workstream lead at ShapeShift.
ShapeShift secures $50,000 from Zcash Community Grants
With Zcash, ShapeShift is bringing private transactions directly to its self-custodial wallet ecosystem. The move also comes with a notable $50,000 grant from Zcash Community Grants, funds that are set to bolster the DEX aggregator’s technical and marketing investments.
Already, ShapeShift has undertaken notable integrations using part of the grant. These include key infrastructure upgrades, such as teaming up with Liquify, a Web3 infrastructure provider that allows users to stake and build on over 90 blockchains. The platform now runs ShapeShift’s remote procedure call endpoints across multiple chains.
Liquify’s node infrastructure allows the DEX aggregator to tap into features such as faster execution, network reliability, and flexibility. Meanwhile, funding has helped ShapeShift redesign its application interface, which now delivers a Uniswap-style swaps platform optimized for mobile.
Founded in 2014, ShapeShift’s growth has included its establishment as a fully open-source decentralized autonomous organization. The DAO integrates with more than 15 blockchains, offering no-KYC access to crypto trading.
Users now have multichain access to direct trading and swaps for Zcash’s native token. Support includes ZEC swaps across Bitcoin, Ethereum, and Arbitrum.
