{"href":"https://api.simplecast.com/oembed?url=https%3A%2F%2Finterchain.fm%2Fepisodes%2Fpenumbra-zero-knowledge-decentralized-exchange-sFccryZb","width":444,"version":"1.0","type":"rich","title":"Penumbra: Zero-Knowledge Decentralized Exchange","thumbnail_width":300,"thumbnail_url":"https://image.simplecastcdn.com/images/c755dd62-dcde-4872-9a66-99ab36749c8e/94090afe-8545-4dc3-8af8-1cd2c6c9a30a/frame-1-1.jpg","thumbnail_height":300,"provider_url":"https://simplecast.com","provider_name":"Simplecast","html":"<iframe src=\"https://player.simplecast.com/802258ea-03e4-4e33-bf51-870fb47cf0bf\" height=\"200\" width=\"100%\" title=\"Penumbra: Zero-Knowledge Decentralized Exchange\" frameborder=\"0\" scrolling=\"no\"></iframe>","height":200,"description":"Penumbra is a fully private Proof-of-Stake (PoS) network and decentralized exchange (DEX) for the Cosmos ecosystem. Penumbra integrates privacy with PoS through a novel private delegation mechanism that provides staking derivatives, tax-efficient staking, and on-chain governance with private voting. Penumbra connects to the Cosmos ecosystem via IBC, acting as an ecosystem-wide shielded pool and allowing private transactions in any IBC-compatible asset. Users can also swap these assets using ZSwap, a private DEX supporting sealed-bid batch auctions and Uniswap-v3-style concentrated liquidity. Sealed-bid batch auctions prevent frontrunning, provide better execution, and reveal only the net flow across a pair of assets in each block, and liquidity positions are created anonymously, allowing traders to approximate their desired trading function without revealing their individual beliefs about prices."}