Welcome to the fifth edition of the Singularity Darkpool Deep Dive Series, where we will take a deeper look into the architecture, vision, and innovations powering Singularity’s institutional-grade on-chain Darkpool orderbook.
In each edition, we unpack a specific layer of the Darkpool - from how we prevent MEV and frontrunning to the role of cutting-edge cryptography like ZKPs, FHE, and MPC.
Built to offer compliance without compromise, Singularity delivers confidential, capital-efficient execution tailored for institutions ready to trade on-chain - privately, securely, and without leaving a trace.
Last edition, we discussed FHE and why it's essential in DeFi.
Now, we turn to the third pillar of Singularity’s privacy-preserving darkpool: Multi-Party Computation.
MPC is a cryptographic technique that allows multiple independent parties to jointly compute a function over private inputs - without any party having access to the full input or the entire output.
Think of it like this:
In Singularity’s architecture, this means no single node can:
A darkpool that uses FHE and ZKPs still needs:
That’s where MPC comes in.
It ensures that:
When a trading session begins, multiple book nodes - the core operators of the Darkpool - use MPC to jointly generate a public encryption key. This key is used by traders to encrypt their orders.
The private fragments of the key remain split across nodes, so no one can decrypt anything independently.
Traders submit encrypted orders. FHE is used to perform comparisons (e.g., price, size, asset pair) without revealing the values.
When a match is found, MPC is triggered again.
Using their separate key shares, book nodes run another MPC process to decrypt only the result:
No additional information (like price, asset, size, or wallet address) is revealed in this process.
Only the necessary execution signal is produced - fully verifiable, fully private.
Once a match is confirmed, the trade can be settled on-chain or OTC-style.
Thanks to MPC, the system guarantees:
MPC completes the triad that powers Singularity’s confidential, compliant darkpool:
Together, they create a zero-leakage, institution-ready execution environment - one that protects privacy while preserving integrity.
In the next edition of our Darkpool Deepdive Series, we’ll zoom out and look at how these components work together in a real-world trading flow - from order submission to final settlement.
Thanks for reading our fifth edition of Singularity’s Darkpool Deepdive series.In the subsequent deep dives, we’ll take you behind the curtain even more to explore additional core components that power our Darkpool.