There has always been a core but long-standing issue on the chain: the lack of native confidentiality infrastructure. What users and institutions really need is something that can simultaneously meet three things: keeping balance and transfer amount private, being able to be used in conjunction with DeFi, and also having verifiability and compliance. The previous situation was: if you want privacy, you have to sacrifice composability, and after asset blocking, you can basically just lie down; To earn profits and conduct transactions using DeFi, one must expose their balance and amount on the chain, with no guarantee of privacy. Institutions are in a dilemma - either to give up privacy for compliance and risk control, or to give up on chain for privacy. This results in confidential assets being held for a long time but unable to be produced. Seeing the official launch of Zama App, this may be the starting point for on chain confidentiality infrastructure to truly become a standard. On the surface, it may seem like just an app, but in fact, it has made FHE technology, ERC-7984 standards, and protocol capabilities a convenient entry point for ordinary users and institutions to use for the first time. Zama uses fully homomorphic encryption, allowing users to shield existing assets into confidential tokens such as cUSDC. The encrypted balance and transfer amount are recorded on the chain, but the entire system is still fully verifiable and has a built-in compliance module. This breaks the previous dilemma: privacy no longer conflicts with DeFi usage and revenue acquisition. The previous privacy solutions either couldn't be combined with DeFi (unusable), or had poor compliance (institutions simply dared not touch them). It is equivalent to Zama solving privacy, verifiability, composability, and compliance at the native level of Ethereum. This is the biggest difference between it and the previous privacy project After the app was launched, users finally had the simplest and most direct entry point to do this: shield their assets into a secure version, and also directly access subsequent secure DeFi venues. The confidentiality exchange function will be launched in Q3, and the closed loop of confidential assets will become more and more complete. More importantly, on June 23rd, the Confidential USDC Prime vault initiated by Steakhouse Financial will be launched on Morpho. This is the world's first DeFi revenue vault specifically designed for cUSDC. What does this mean? The biggest problem with confidential assets in the past was that they had privacy but no utility. Now cUSDC can not only be held in secrecy, but also earn profits. Confidential capital finally has productivity. This step actually fills the missing piece of the blockchain's confidentiality infrastructure puzzle. From a broader perspective, Zama's operation is shifting the narrative of "on chain secure infrastructure becoming the standard" from technically feasible to product and capital usable. So Zama App is not just a front-end product, it is a complete entry point that transforms confidential assets from "can only be held" to "can be held, traded, and earn interest". And behind this entrance stands a secure infrastructure that is becoming the standard on chain. The next stage of on chain finance truly begins when both institutions and users can conveniently, securely, and compliantly use confidential capital. Worth continuous tracking and attention.