Key Features

Hibachi is a high-performance off-chain CLOB (central limit order book) that’s verifiable onchain and encrypted by default. With the Wynn Upgrade, Hibachi sets a new benchmark for decentralized exchanges: the speed and UX of a centralized platform, combined with cryptographic integrity, encrypted privacy, and permissionless access.

At its core, Hibachi executes orders off-chain for ultra-low latency while using zero-knowledge proofs via Succinct to verify every balance update, order fill, and system state. These proofs are posted to Celestia as encrypted data blobs, ensuring that all critical data is available without exposing user strategies or sensitive trading activity. Users benefit from near-instant execution and full privacy without sacrificing verifiability.

Custody is handled entirely on-chain. Every user position is collateralized via smart contracts, with forced withdrawal guarantees even if the exchange becomes unresponsive. No trust is required. All that’s needed to exit is access to the latest encrypted blob, which can be decrypted and used to recover funds, independent of Hibachi’s operators.

Key features of the architecture include: - Ultra fast offchain matching for CEX-level speed - ZK-proof settlement to verify all updates onchain - Encrypted trade data to protect user privacy - Permissionless withdrawals with onchain guarantees

Looking ahead, Hibachi is advancing toward a decentralized validator model and client-side encrypted order flow with enclave-based matching. This paves the way for private order books and dark pool functionality, all without compromising verifiability.