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CZ’s proposed dark pool perpetual DEX design involves hiding order books, suppressing deposit visibility, and using zero-knowledge proofs or deferred settlement to reduce exploitable transparency.
Dark pools are private off-book trading venues widely used in TradFi to execute block trades discreetly, shielding them from order book impact, slippage, and latency arbitrage such as MEV bots
Changpeng “CZ” Zhao is the former CEO of Binance and current leader of YZi Labs, a venture firm focused on supporting innovations in crypto and AI
CZ proposed a dark pool-style perpetual DEX to combat front-running, MEV exploitation, slippage, and forced liquidations.
CZ’s proposal to build a dark pool-style decentralized exchange for perpetual futures was prompted by the $100 million liquidation of trader James Wynn, an event attributed to the public visibility of his highly leveraged on-chain positions on Hyperliquid.

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