Achieving private yield on assets through a privacy-focused chain—this was already done by project teams in the last cycle. But bringing the talent of private yield to public chains? @zama can truly be called a pioneer, completing the final piece of the puzzle. The leading protocol in the FHE space, Zama, has introduced this incredibly compelling narrative to crypto: Achieving private yield on assets on Ethereum. Integrated with @Morpho, Zama has launched the first lending privacy yield vault for cUSDC (encrypted USDC). By depositing cUSDC into the vault, users can earn real lending yields while encrypting all sensitive data, including balances, positions, and investment strategies. In a sense, Zama single-handedly opened up the new Confidential DeFi track, marking the beginning of a privacy renaissance on Ethereum.