Here's your June recap, a quick look at what happened across the Zama ecosystem this month.

Confidential DeFi is live

 Every DeFi position used to be public: balances, allocations, strategies. Not anymore. The Steakhouse Confidential Prime USDC vault on Morpho, curated by Steakhouse Financial, is the first DeFi yield venue for confidential USDC (cUSDC), with more than $14M already deposited. Same parameters and strategy as Steakhouse Prime USDC, with cUSDC as the deposit asset and confidential vault shares for each LP. The launch pulse of the 12-week boost program runs through July 7: the highest-yield window.

Read more about it here

“We believe the next generation of digital asset markets will be built on confidentiality, transparency, and control. That's why GSR is proud to work with Zama as one of the first depositors.” —GSR

How it works

1. Shield USDC into cUSDC in the Zama App.
2. Deposit cUSDC into Steakhouse Confidential USDC Prime.
3. Earn yield through Morpho lending markets.

Same parameters as Steakhouse's flagship USDC Prime vault. Same strategy. Same infrastructure. Confidential positions.

→ Deposit on Zama app

Also this month

Discover the Zama app: the easiest way to use confidential tokens

Shield the assets you already use with balances and transfers encrypted onchain. Your existing wallet. Your existing assets. Now confidential.

Connect your wallet and start shielding in seconds at: app.zama.org

AsyncWrapper: an anonymous on-ramp to confidentiality

Valerio Leo, CEO at Raycash, on breaking the link between an ERC-20 deposit and the confidential ERC-7984 it mints, using a two-step wrap with decoys. Read the guest blog post.

$ZAMA is now trading on Uphold

Buy, sell, and convert $ZAMA directly on Uphold, expanding access for retail and institutional buyers. Trade $ZAMA on Uphold.

By the numbers

$40M+
‍Total Value Shielded (TVS)

$230M+
Cumulative TVS

9,000+
Unique wallets holding shielded assets

1.4B+
$ZAMA staked Across 18 independent operators

See it live on the Zama Protocol Dune dashboard.

For builders

Final week to submit. Up to 12,500 cUSDT across four tracks: Builder, Bounty (Confidential Wrapper Registry App), Special Bounty with TokenOps, and the Bootcamp.

For inspiration, see the Season 2 winners: 234 submissions, 15 winners.

→ Submit your project

In the conversation

• Zama and Morpho on institutional-grade privacy in DeFi: Rand Hindi (Zama) and Merlin Egalite (Morpho).
• Rand Hindi on Privacy Day on The Rollup, alongside Multicoin, T-REX Network, and others.
• Zama is contributing to the Ethereum Foundation's Clear Signing effort.

What's next

• Developer Program Mainnet Season 3 winners announced 
• The vault boost program continues: mid pulse runs July 8 to August 4
  
• And more...

‍The future of DeFi is confidential. Get ready to put your cUSDC to work.

Additional Links

• Zama App: app.zama.org
• Zama on X: x.com/zama
• Zama on Telegram: t.me/zama_on_telegram
• Contact the team: zama.org/contact