The problem
Three things break in every other dark pool.
Orders leak.
Every L2 orderbook is a strategy leak. Watchers see your price, size, and timing — the market front-runs you before you fill.
Bridges break.
Wrapped BTC depends on a custodian or a cross-chain proof you can't audit. Every bridge is a single point of catastrophic failure.
Custodians control.
If a venue holds your keys, it holds your fate. Withdrawal pauses, frozen assets, KYC creep — all downstream of custody.
OBSIDIANDESK · TICKET 0001 · TRADER-SEALED · SIGNET · BLOCK 308,558
How a Bitcoin trade clears
From any BTC wallet to a confirmed UTXO.
Encrypted the entire way.
Five steps. The chain only sees ciphertext until the moment a real Bitcoin transaction is broadcast — and you sign every byte of that transaction with your dWallet.
// SETTLED · NATIVE BTC · NO BRIDGE- 01FUND
Send signet BTC to your dWallet from any wallet.
bc1q…desk+250,000 sat - 02SEAL
Your order is encrypted before it touches Solana.
················ - 03COMPARE
The keeper finds matches without decrypting either side.
··············↔·············· - 04CO-SIGN
You + the Ika network jointly sign a real BTC transaction.
2 / 2 thresholdika.signet - 05BROADCAST
The counterparty receives a native UTXO. No bridge.
txid c42313…block 308,558
The chain sees ciphertext. You see the trade.
Why both
Encrypt without Ika is half a system. Ika without Encrypt is too.
Remove Encrypt →
The orderbook becomes public again.
Without FHE, every PDA is plaintext on chain. Watchers replay your strategy in real time.
Remove Ika →
Settlement collapses back to a bridge.
Without dWallets, BTC has to be wrapped. The custodian is back, the bridge is back, the trust assumptions are back.
Neither alone is enough.
Encrypted volume
████████
We can't read it. Neither can the validators.
Active orders
25
Sealed in the book right now.
Matches settled
0
Native BTC tx confirmed on signet.