ENCRYPTED FINANCE ON SOLANA

Lend. Borrow.Never revealyour positions.

Onchain shouldn’t mean on display.

Get product updates and priority access.

A balanced cream scale holds two locked bags in Guava hammock slings.

Your positions can reveal your strategy.

Bots can track liquidation risk. Competitors can copy allocation. Traders can anticipate your next move.

What everyone can see

  • Your supplied assets
  • Your borrowed amounts
  • Your liquidation risk
  • Your wallet activity

LEND AND BORROW

Put capital to work.
Without showing your hand.

A wallet with coins and a locked bag.

Lend

Earn interest on supplied liquidity

Capital secured behind a lock.

Borrow

Access liquidity against your collateral

Protocol design in development

SELECTIVE VISIBILITY

Public markets. Private positions.

Lenders

Earn yield

Your deposits and returns.

Only visible to you

Borrowers

Access credit

Your collateral, debt, and health.

Only visible to you

Users

Market aggregates

Total value locked, rates, and utilization

Visible to everyone

Liquidators

Liquidate

Loan-to-value ranges, unlinked to borrowers

Visible to liquidators

CRYPTO ARCHITECTURE

Decentralized by design.

Solana

Shared execution

EncryptEncrypt

Encrypted computation

Ika

Threshold decryption

Explore the protocol design →

OUR VISION

Tokenize, encrypt, and leverage everything for everyone

Who gets access?

  1. AlphaVerified cohort
  2. BetaPermissionless deposits
  3. OpenPermissionless liquidation

Which assets?

  1. First marketSOL / USDC
  2. Major Solana assetsStablecoins · Real-world assets
  3. Native assets, any networkBitcoin, Ethereum, Canton and beyond

Industry perspectives

Why onchain privacy matters.

Jon Charbonneau 🇺🇸@jon_charb
If your credit card transactions were public you’d never use it

Aug 18, 2025 · Excerpt

Robbie Petersen@robbiepetersen_
In the absence of optional privacy, blockchains look more like marketing vehicles than backend infra for institutional finance

Aug 19, 2025 · Excerpt

David Lachmish@d3h3d_
private internet money needs to be part of a private capital market

Oct 31, 2025 · Excerpt

Bitcoin@Bitcoin
The @BIS_org wants a grading system for permissionless blockchains.

Aug 15, 2025 · Excerpt

Edward Snowden@Snowden
I've been warning Bitcoin developers … privacy needs to be provided for at the protocol level.

May 2, 2024 · Excerpt

CZ 🔶 BNB@cz_binance
you can pretty much see how much everyone in the company is paid

Feb 15, 2026 · On-chain payroll excerpt

Kyle Samani@KyleSamani
They want the assets that they already like/want to hold, with an option to be private

Oct 22, 2025 · Thread excerpt

mert@mert
private money has been a thing since the beginning of time

Oct 31, 2025 · Excerpt

Brian Armstrong@brian_armstrong
privacy is an important feature for many law abiding citizens.

Mar 21, 2025 · Excerpt

Howard Wu@1HowardWu
Send someone USDC and you've just given them visibility into your entire financial history.

May 12, 2025 · Excerpt

vitalik.eth@VitalikButerin
Privacy is not a feature. Privacy is hygiene.

Nov 23, 2025

Peter Van Valkenburgh@valkenburgh
We should take concrete steps to protect people’s ability … to transfer value privately

Aug 5, 2025 · Quoting Hester Peirce · Excerpt

Naval@naval
Unstoppable private money.

Aug 15, 2024

Joe Andrews@jaosef
Privacy tech is now more important than ever. Local models, ZK, encryption.

Sep 7, 2026 · Excerpt

Dan Robinson@danrobinson
I think there are probably a decent number of OG holders who care about privacy

May 1, 2026

Hasu@hasufl
Financial privacy is another big one. The super-rich have it. Everyone else does not.

Apr 10, 2020 · Excerpt

Tushar Jain@tushar_jain
Our funds are constantly tracked, forcing regular wallet rotations. Institutions need privacy to operate.

Jul 22, 2026 · Excerpt

Andreas Antonopoulos@aantonop
Without financial privacy, we don’t have human rights.

Feb 8, 2022 · Excerpt

Wei Dai@_weidai
Privacy is the last hurdle to mass-adoption of onchain finance.

May 29, 2025 · Excerpt

Kyle Samani@KyleSamani
they want the assets that they want, in private form

May 15, 2026 · Excerpt

mert@mert
you *must* disclose your own money to the world if you're in crypto because the chains are transparent.

Jan 27, 2026 · Excerpt

Brian Armstrong@brian_armstrong
Financial privacy should be the norm.

Aug 17, 2022 · Excerpt

Howard Wu@1HowardWu
The fact that anyone can see this is one of many reasons why crypto is STILL not ready for everyday transactions or serious capital.

Sep 9, 2026

vitalik.eth@VitalikButerin
Why I support privacy: …

Apr 14, 2025 · Excerpt

Claire Kart@clairekart
Study the internet of the mid 90s - no serious commerce until SSL.

Aug 18, 2025 · Excerpt

Balaji@balajis
Cash is private by default. … So we are defaulting into tracking. Zero knowledge is the defense.

Nov 30, 2024 · Excerpt

zooko🛡🦓🦓🦓 ⓩ@zooko
politically neutral money is necessary for democratic societies.

Mar 8, 2022 · Excerpt

FOR INSTITUTIONS

Managing institutional capital?

Explore participation, market requirements, and your operational needs.

Explore Hammock for institutions →

Frequently asked questions.

What is Hammock?

Hammock is building encrypted lending on Solana: a way to put capital to work without publishing individual deposits, collateral and debt. The aim is familiar lending and borrowing with public market rules and encrypted participant positions.

Is Hammock live?

Hammock is in development. No production market is live. The first planned alpha is for a selected founding institutional cohort; encrypted execution, risk checks and settlement still need integration and validation.

What stays private, and what is public?

The design encrypts individual deposits, collateral and debt. Owners see their own positions; aggregate TVL, rates and utilization stay public. Liquidators see risk ranges without identifying the borrower. Preventing settlement and network metadata from revealing the borrower is a design requirement that still needs validation. Liquidations disclose the settlement details required to execute.

How will lending and borrowing work?

Lenders supply liquidity and earn variable interest paid by borrowers. Borrowers post collateral to borrow within a market’s risk limits. Repayment releases collateral under those rules; a position that crosses the liquidation threshold may lose collateral.

Which assets are planned?

The ambition extends to native assets from networks such as Bitcoin, Ethereum and Canton, alongside stocks, funds and bonds. These are expansion targets, not live markets or confirmed integrations.

How will access open up?

The planned sequence is a closed institutional alpha, then permissionless deposits, and later permissionless liquidation. Asset support and access expand separately, with additional markets intended before broader public onboarding. Each stage depends on validation; no public launch date is announced.

How will liquidation work?

At the liquidation limit, the protocol rechecks the loan. Liquidators buy seized collateral at a discount to repay the pool. LTV = debt ÷ collateral value. Liquidators see ranges (upper/lower bounds), designed to hide borrower identity. Settlement and metadata privacy need validation.

What risks should I understand?

Encryption does not remove lending risk. Collateral prices can fall, positions can be liquidated, and smart-contract, oracle or operational failures can cause losses. Encrypted execution and decryption add dependencies that still need validation. Rates, liquidity and returns are not guaranteed.

What does joining the waitlist provide?

Alpha updates and priority access. Eligibility and cohort selection still apply; admission and launch dates are not guaranteed.

How can an institution participate?

Use the Institutions page to discuss lending, borrowing or liquidation requirements and fit for the founding cohort. Selection and eligibility verification are separate steps. Initial conversations are nonbinding and do not guarantee admission.