Provable opens early access to Shield Swap on Aleo
Shield Swap protects traders’ identities, portfolios, and trading strategies.
Provable has opened early access to Shield Swap, a confidential trading venue on the Aleo Network.
Shield Swap separates the information a market needs from the information a trader should be able to keep private. Participant identities, balances, portfolios, and links between trades remain confidential. Pool reserves, trade prices, transaction sizes, and fees remain publicly verifiable.
The cost of trading on a public ledger
Onchain markets have a long-standing information problem. Transparent ledgers publish participant activity in real time. Wallet clustering and transaction analysis can then turn that activity into a readable trading history.
Positions can be mirrored. Strategies can be reverse-engineered. Other market participants can use public transaction data to anticipate a trader’s next move.
Traditional financial markets do not require firms to publish their complete books and transaction histories. Public blockchains have made that exposure the default.
Shield Swap takes a new approach to onchain finance.
Public markets without public portfolios
Zero-knowledge proofs allow the network to confirm that a transaction follows the rules without revealing the private information inside it. This lets Shield Swap publish the information required for price discovery while protecting traders' activity.
The market can verify reserves, prices, sizes, and fees. It cannot use the public ledger to reconstruct a trader’s identity, portfolio, or trading strategy.
“Serious trading firms do not publish their books or broadcast their positions. Yet public blockchains have forced market participants to do just that,” said Howard Wu, founder and CEO of Provable.
Confidentiality with selective disclosure
Provable built Shield Swap to support compliance without making every transaction public.
Each swap generates an encrypted compliance record. Participants control access to their information through view keys and can selectively disclose relevant records to an auditor, accountant, or regulator.
This allows a participant to provide the information required for review without exposing unrelated positions or their complete financial history.
Early access is open
Shield Swap shows how markets can remain verifiable without revealing every trader’s activity on public display.
The venue currently supports USDCx on Aleo, wrapped Bitcoin, Ethereum, Solana, and Aleo. Provable anticipates a public launch in Q4 2026.
Early access is available at swap.shield.fi.
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About the Aleo Network
Aleo is building the foundation for a more private digital world. From the ground up, every transaction is private by default, bringing privacy and scalability to stablecoins and blockchain-based financial systems. For more information about Aleo and to stay updated on its latest developments, visit www.aleo.org.
About Provable
Provable builds confidential and compliant infrastructure for financial markets. Its products include Shield Wallet and Shield Swap, and Provable is also the team behind Aleo, a Layer-1 blockchain powered by zero-knowledge cryptography. Provable develops the cryptographic systems, protocol infrastructure, and software that enable confidential transactions with programmable disclosure. More information is available at provable.com.
