Confidential positions,
provable solvency.
A pooled vault where an autonomous agent trades under an on-chain mandate. Its holdings and strategy never touch the chain — the vault's solvency and share price are proven on it every epoch.
Two places capital can sit
The settlement buffer is on-chain and legible. Deployed capital lives behind enclave-held keys — only the aggregate value ever crosses back.
- Shares outstanding, deposits, redemptions — plain ERC-4626
- Attested NAV, share price, and the solvency-proof result
- Mandate parameters and drawdown-breaker state
- Portfolio composition — which tokens, in what size
- Entry and exit prices, trade timing, venue routing
- Strategy code and parameters
Depositor-level privacy (who deposited, how much) is out of scope — that's an additive shielded-deposit layer on the roadmap.
From deposit to proof
Capital pools into a standard ERC-4626 vault. You hold shares; the settlement buffer stays on-chain in the clear.
An autonomous agent deploys capital under an on-chain mandate — per-trade cap, deployed cap, drawdown breaker. Positions are held by enclave-bound execution accounts.
Each epoch a single scalar — the aggregate mark-to-market value — is signed inside the enclave and posted back. Share price is derived only from verified attestations.
A zero-knowledge proof over the hidden balances shows the vault is solvent and mandate-compliant — without revealing a single position.
The mechanism, not just the promise
maxTradeBps, maxDeployedBps, maxDrawdownBps enforced on-chain. Breach the drawdown limit and the agent drops to unwind-only.
Idle liquidity redeems instantly; larger exits queue and settle at attested NAV once the agent unwinds. No forced fire-sales.
Management and performance fees mint against a high-water mark — no asset transfers, no surprise withdrawals from the buffer.
A fixed share of every fee accrual routes to the ZEN staking pool, tying vault performance to the Horizen ecosystem.
Live prototype, honest roadmap
The vault, mandate and redemption logic run today on Horizen Testnet with test tokens. The confidential-execution layer — enclave and proofs — is next.
- LiveVault, agent mandate, redemption queue and breaker — deployed on Horizen Testnet.
- M1Remove heldTokens / deployedValue from the contract; positions leave the public surface.
- M2Execution moves into a TEE; NAV arrives as an enclave-signed attestation.
- M3Zero-knowledge solvency proof over hidden balances, verified on-chain each epoch.
Try it on testnet
Mint test tokens, deposit, watch the agent trade under its mandate, and queue a redemption — no real funds involved.