Building missing links: Why does Web3 require a black pool, while TEN is already ready! Web3 DeFi DarkPools Institutional Transaction Privacy Calculation The necessity of black pools in Web3, TEN fills this gap through its encryption infrastructure: CZ's call confirms that Web3 urgently needs a black pool! 😱 The current "super transparency" of DEX poses a fatal flaw for institutional trading and perpetual contracts: rushing MEV、 Clearing pursuit .. And TENProtocol builds encrypted execution from the bottom, providing a native confidential transaction infrastructure. Say goodbye to information leakage, embrace intelligent transparency, and make bulk trading safe and efficient. TEN， It is precisely the missing link in traditional finance entering Web3. When CZ publicly called for the Web3 community to build a 'black pool sustainable DEX', he undoubtedly pointed out a core pain point: the current decentralized trading technology is far from meeting the security and efficiency standards required for institutional level transactions. This is not a simple technical flaw, but a fundamental deficiency in the Web3 infrastructure. Fortunately, at TEN, we have been focused on building this missing link since the beginning of the project. Transparency dilemma: DEX's double-edged sword The "aggressive transparency" of existing DEX was once seen as a characteristic of Web3, but for serious traders, this is a fatal flaw. Imagine an institutional investor who wants to execute a $1 billion order, with their order intentions, clearing points, and even trading strategies all being monitored in real-time by the market. This kind of information leakage has led to unavoidable front running, MEV robots swarming, and sliding points soaring, ultimately allowing traders to obtain worse prices and reducing the overall efficiency of the market. In traditional finance, the existence of "black pools" is precisely to solve this problem, and the trading volume they handle can even reach 10 times that of "public" exchanges, because bulk trading requires privacy. Liquidation Pursuit: The 'Deadly Hurt' of Perpetual Contracts Transparency issues are particularly severe in perpetual contracts and leveraged trading scenarios. When the clearing point is made public, it will create undue incentives. Other traders can collude and maliciously push prices to reach known liquidation levels, forcing large investors to be forced to close positions regardless of asset fundamentals. CZ himself has pointed out that even traders with billions of dollars in positions are not immune to the attack of "liquidation pursuit" when their positions are transparent. This unstable and manipulated trading environment undoubtedly excludes institutional capital. TEN's solution: native encryption and intelligent transparency Unlike Layer 2 solutions that only focus on scalability, TEN has built-in encryption capabilities from the bottom and has implemented many new experiences through trusted execution environments (TEEs), including confidential transactions. TEN provides essential infrastructure for true black pool functionality: Native encryption: All transaction data is encrypted by default, not patched afterwards. Confidential smart contract: Transaction execution occurs within a secure isolation zone, and even node operators cannot access sensitive data. Intelligent Transparency: Developers can precisely define which information remains private and which information can be made public, balancing privacy and auditability. Instant Certainty: Provides institutional level execution speed without sacrificing security. TEN is not "transforming" privacy on a transparent blockchain infrastructure, but rather rooting encryption capabilities in its core foundation. The true black pool function is far more than just hiding the order book. It also requires encrypted transaction data, hidden position sizes, confidential clearing levels, and a private and trustworthy settlement process. TEN's unique advantages and future path We are well aware of the need for professional trading infrastructure. The TEN team has unique experience in building Corda, a blockchain platform used by major financial institutions worldwide. We apply this institutional level expertise to build the encryption layer 2 required for Web3. To achieve large-scale adoption of Web3 by institutions, the maturity of infrastructure is a necessary step. If we cannot even provide basic functions such as confidential transactions, how can we expect the traditional financial industry to take blockchain seriously? The existence of TEN foresaw this infrastructure gap several years ago. The discussion surrounding the black pool essentially concerns whether Web3 is ready to receive institutional funding. When the largest participants in the field of encryption publicly acknowledge the shortcomings of the current infrastructure, it precisely validates the value that TEN has built. TEN has built an encryption infrastructure that enables confidential transactions, black pools, and institutional level DeFi applications to become a reality today. The issue is not whether Web3 requires black pooling, but whether other protocols will build the necessary encryption capabilities to compete with the features already provided by TEN. @tenprotocol