User:Finpioneer/sandbox
Blockchain privacy infrastructure company
From Wikipedia, the free encyclopedia
Hinkal is a blockchain privacy infrastructure company based in Silicon Valley.[1] It was founded in 2023 by Georgi Koreli and Nika Koreli.[2] The company builds software that enables confidential on-chain assets and transactions on blockchains.[3] Its product line includes Hinkal Wallet, a self-custodial Web3 wallet that conceals wallet addresses on the public ledger, and SDK kit that enables confidentiality for developers of applications.[4]
Company type | Private |
|---|---|
| Industry | Blockchain, Cryptocurrency, Privacy |
| Founded | 2023 |
| Founder | Georgi Koreli, Nika Koreli |
| Products | Hinkal Wallet, Hinkal SDK |
| Website | hinkal |
History
Hinkal was founded on March 1, 2023, by brothers Georgi and Nika Koreli.[5] It was incubated at Stanford University[6] and participated in Binance’s Most Valuable Builder (MVB) program.[7]
In November 2023, the Hinkal launched on the mainnet of several blockchain networks, including Ethereum and Polygon, offering privacy features for transactions on decentralized applications (dApps).[8] In the same month, Hinkal raised $4.1 million in a funding round led by Draper Associates, with participation from other investors.[9]
In 2024, Hinkal raised additional $1.4m led by SALT, indicating strong interest in institutional version of the wallet.[10]
In 2025, the company introduced Hinkal Wallet, a self-custodial Web3 wallet that conceals users’ wallet addresses from public ledgers.[11]
Features
Hinkal provides functions that limit the public visibility of transaction data:[12]
- Asset privacy: Users can store assets confidentially.[13]
- Transaction Privacy: Users can perform swaps, staking, bridging, and yield farming public observers seeing individual wallet addresses.[14]
- Composability: Users can privately interact with existing DeFi applications directly through Hinkal Wallet.[15]
Technology
The company uses cryptographic and system-level mechanisms to restrict the public visibility of transaction data:[16]
- Zero-Knowledge Proofs: Used to validate transactions without revealing underlying details.[17]
- Stealth Addresses: One-time addresses generated to limit traceability of recipients.[18]
- Trusted Execution Environments (TEE): Isolated computation environments for ZK proofs.[19]
- Shielded Pools: Allow users to transfer assets without exposing amounts or counterparties.[20]
Some components of Hinkal’s software are open-source and available on GitHub.[21]
Security
Hinkal’s smart contracts have been reviewed through multiple security audits and bug bounty programs, some of which include:
- Quantstamp: Audit conducted from August 14–23, 2023.[22]
- Zokyo: Audit completed in February 2024.[23]
- Immunefi: Managed an invite-only bug bounty program. Findings are not publicly disclosed.[24]
Audits and bug bounty programs provide a level of security review. However, not all findings are publicly available.[25]
Reception
Media coverage of Hinkal has primarily addressed its attempts to implement privacy features in decentralized finance (DeFi). Reports have highlighted the use of zero-knowledge proofs and stealth addresses in its protocol. Hinkal’s inclusion in Binance’s Most Valuable Builder (MVB) program and its funding rounds have been cited as indicators of industry attention toward privacy-oriented blockchain infrastructure.[26]