Zcash Privacy Meets Solana DeFi with Zenrock’s Wrapped ZEC Crossing $15M in Volume

Zenrock's wrapped Zcash token, zenZEC, has surpassed $15 million in trading volume since launching on the Solana blockchain on October 31st. This milestone signifies the introduction of privacy features into Solana's high-speed DeFi ecosystem. Zenrock co-founder Aditya Dave emphasized that privacy, a core crypto tenet, has been sacrificed due to the influx of traditional finance via stablecoins, necessitating this bridge. zenZEC is backed 1:1 by native ZEC and wrapped using Zenrock’s decentralized Multi-Party Computation (MPC) network, which mathematically splits the private key across nodes to eliminate single points of failure and enhance security. This structure allows zenZEC to integrate seamlessly with Solana's decentralized exchanges and yield protocols, offering Zcash holders DeFi exposure for the first time in over seven years, with plans to allow its use as collateral soon. This development coincides with ZEC's significant rally and increased shielded adoption within the Zcash network itself.

(Source：CoinDesk)