Project Slides / 项目介绍

Privyields

Confidential qualified-yield marketplace built with Zama. Scroll through the browser deck for the live demo story.

Privyields

Confidential Qualified Yield Market

A Zama-powered yield marketplace where a user proves they are qualified, allocates confidential cUSDC, receives encrypted rewards, and decrypts only their own results.

ZK proves eligibility
FHE protects allocation and reward amounts
User-controlled disclosure at the end of the flow

Problem

Qualified yield access exposes too much

Private-market and qualified-investor workflows often expose wealth signals, position sizes, and portfolio movements to every operational system in the path.

Eligibility checks reveal more than they need
Allocation size becomes public operational data
Reward history can expose strategy behavior

Solution

Separate eligibility from private capital movement

Privyields keeps qualification as a one-time proof and then routes deposits, principal, rewards, and final balance checks through encrypted cUSDC handles.

Asset-threshold proof without publishing the asset amount
Encrypted deposit into a selected product vault
Reward and balance decrypt only after user signature

Experience

A guided demo instead of a dense dashboard

The frontend is now a step-by-step wizard: intro, wallet, qualification, product selection, mint, wrap, allocation, yield, claim, and final cUSDC balance decrypt.

One task per screen
Visible progress and debug events
Final proof that the claimed reward reached the confidential balance

Architecture

Five on-chain building blocks

The demo composes a public mock USDC, a Zama ERC-7984 cUSDC wrapper, a Groth16 qualification registry, a permissionless product market, and a confidential yield vault.

MockUSDC funds fresh demo wallets
ConfidentialUSDC stores encrypted balances
ConfidentialYieldVault stores encrypted principal and rewards

Market

Public products, private allocation

Any connected wallet can issue a product entry. Qualified users then browse public product metadata, while each user's allocation amount remains encrypted.

Permissionless product issuance
Qualification before product selection
Ready for tier-gated product sets

Live Flow

From proof to confidential claim

A user generates a Groth16 asset-threshold proof, mints mock USDC, wraps it into cUSDC, encrypts a deposit, accrues a reward, decrypts the reward handle, and claims cUSDC.

Sepolia wallet signs every live step
Zama Relayer SDK encrypts deposit input
User decrypt reveals only the user's own reward

Balance

MetaMask cannot show confidential cUSDC

cUSDC balances are encrypted handles, not public ERC-20 balanceOf values. The final page decrypts the user's own cUSDC balance and browser-recorded history after wallet signatures.

MetaMask shows ETH and mock USDC
The dApp decrypts current balance with Zama user decrypt
History handles can be batch decrypted with one signature

Demo Scope

Built for Sepolia and recorded demos

The current deployment runs a production Next.js app behind Caddy at privyields.xyz, wired to Sepolia contracts and Zama's Sepolia FHE configuration.

Production Next.js build, not npm dev
Config page shows deployed contract addresses
Frontend-only redeploy is available for UI updates

Boundaries

Clear demo assumptions

The proof system, confidential token flow, and encrypted accounting are real demo code. The credential process, public APR publishing, mock USDC funding, and yield strategy custody remain intentionally simplified.

Self-serve demo actions for judge wallets
Production needs issuer attestations and publisher roles
Custody controls and monitoring are future work