@zama, which raised $130 million, mentioned in its roadmap that it plans to issue tokens by the end of the year. So right now, I'm checking out some of its ecosystem projects. Yesterday, they introduced a batch of top submissions from October, and the gold-winning project, Alpha Engine, seems pretty interesting. You can try it out on the testnet. This is a privacy-focused Swap and liquidity management protocol based on Uniswap V4. It uses Zama's FHE technology to fully encrypt users' "transaction amounts" and "asset balances" on-chain. When users deposit USDC into the contract, Zama's FHEVM mints it into an "encrypted version of the token," like eUSDC. The balance of these eUSDC tokens exists in encrypted form, meaning even block explorers can't parse these values. When you perform a Swap, for example, exchanging 100 eUSDC for eUSDT: The number 100, the token type eUSDC, the amount of eUSDT received, and other data will all be encrypted by Zama's FHE. Afterward, your transaction request, along with others, will be bundled into a "batch of transactions" and submitted to the AVS node network on-chain. AVS nodes have FHE decryption permissions, allowing them to securely decrypt and simulate all transaction requests, then settle only the net transaction results on-chain. Alpha Engine is now live on the testnet: https://alpha-engine-zama.vercel.app/swap 1/ First, claim test USDC and deposit it into eUSDC. 2/ Use the Decrypt Balance feature to view your balance. 3/ Swap eUSDC for eUSDT. 4/ Finally, use the Withdraw function to convert eUSDC back to regular USDC. For individual/institutional users, this allows token swaps and fund deployment without revealing specific transaction details. The privacy sector definitely has PMF (Product-Market Fit). I'll keep tracking this closely.