Hibachi is a decentralized derivatives trading protocol designed for professional traders. It aims to provide verifiable on-chain transparency and security while maintaining a centralized exchange (CEX)-level trading experience. Powered by Celestia, Risc Zero, and Hashflow, the protocol is currently deployed on the Base network.
Hibachi's mission is to build a trading platform that is "simple, fast, smooth, and secure," with the vision of "replacing traditional platform trust with cryptographic proofs." Every transaction is cryptographically guaranteed, user funds are verifiably backed, trading strategies are encrypted by default, and unauthorized activities are strictly excluded.
The Current Market Challenge: Speed vs. Transparency Dilemma
Existing cryptocurrency trading markets, including both centralized exchanges (CEX) and decentralized finance (DeFi) platforms, have significant drawbacks.
Centralized exchanges offer millisecond-level trading speeds. However, users must place full trust in the platform's fund management and settlement logic. If an exchange fails or is hacked, user funds are at considerable risk.
On the other hand, DeFi derivatives platforms offer transparency but suffer from slow transaction speeds and poor privacy. Every user action is disclosed on-chain, making it easy for competitors to copy trading strategies.
How Hibachi Solves These Challenges
Hibachi strives to balance speed and transparency through several core designs:
Off-Chain Order Matching with On-Chain Verifiability
Hibachi uses an off-chain order book to complete trade matching, significantly improving performance. For each batch of transactions, Risc Zero generates zero-knowledge (ZK) proofs of the results. These proofs are published to Boundless and Celestia, ensuring data integrity and traceability.
Cryptographic Proof of Solvency
Users do not need to trust the platform blindly. All asset balances and liabilities are cryptographically proven, ensuring full reliability and transparency.
High-Performance Architecture Support
The Hashflow-based ExchangeOS architecture supports order delays as low as 6 milliseconds. This high-speed performance is achieved while preserving user privacy and enhancing the overall trading experience.
Real-Time Transparent Data Integration
Hibachi integrates decentralized oracles, such as Pyth Network and Stork Oracle, to provide verifiable real-time price feeds and market status updates.
Team Background and Project Development
Hibachi was initiated by co-founder ayotibo and is developed by a team dedicated to building transparent, professional-grade derivatives trading infrastructure. The project integrates modular components and zero-knowledge technology to support a high-performance, verifiable trading experience.
In terms of technical collaboration, Hibachi relies on:
- Risc Zero for its zero-knowledge proof system, which publishes validity proofs for transaction batches to Boundless.
- Celestia as the availability layer for off-chain order book data.
- Hashflow's ExchangeOS architecture, which enables CEX-like performance (as low as 6 ms latency) and privacy protection.
- Decentralized oracles like Pyth Network and Stork Oracle to enhance the verifiability and real-time nature of price data.
Currently, Hibachi is deployed on the Base network and is open to the public. Base’s execution efficiency and developer-friendly features make it an ideal environment for the project’s continued evolution and large-scale implementation.
In the next phase, Hibachi plans to expand multi-chain support and develop new features such as AI trading assistants, multi-asset collateral mechanisms, real-world asset (RWA) integration, and optimized revenue strategies to further enhance the derivatives trading ecosystem.
Frequently Asked Questions
What makes Hibachi different from traditional decentralized exchanges?
Hibachi combines off-chain order matching with on-chain verifiability, offering both high speed and full transparency. Unlike typical DeFi platforms, it uses zero-knowledge proofs to ensure privacy and security without sacrificing performance.
How does Hibachi ensure the safety of user funds?
All user funds are fully backed and verifiable through cryptographic proofs. This means that assets are always secure and can be withdrawn at any time, eliminating the "black box" risk associated with centralized exchanges.
What chains does Hibachi currently support?
Hibachi is initially deployed on the Base network. The team has plans to expand to other chains in the future to increase accessibility and interoperability.
Can users trade without revealing their strategies?
Yes, Hibachi encrypts trading strategies by default. This ensures that user actions remain private and are not exposed on the blockchain.
What role do oracles play in the Hibachi ecosystem?
Oracles like Pyth Network and Stork provide real-time, verifiable market data. This ensures that prices and trading conditions are accurate and transparent.
How can users get started with Hibachi?
Users can visit the platform via the Base network and connect their wallets to begin trading. 👉 Explore advanced trading strategies
Conclusion
Hibachi represents a significant step forward in decentralized derivatives trading. By combining high performance with verifiable security, it offers a compelling alternative for traders seeking both speed and transparency. With its innovative use of zero-knowledge proofs and off-chain data handling, Hibachi is well-positioned to influence the future of DeFi trading.