- Sources verify that analysis agency Temporal is the creator of the HumidiFi protocol.
- The platform processed $40 billion final month and dominated a 3rd of Solana’s buying and selling quantity.
- The venture is getting ready for the approaching launch of the WET token by way of Jupiter’s platform.
These days, Solana’s decentralized finance (DeFi) ecosystem has been dominated by organizations working within the shadows.deal with massive volumes with out conventional interfaces.
The platform managed at the very least $40 billion in trades final month. That entity is HumidiFi.. Current experiences have pointed to cryptocurrency analysis and growth firm Temporal because the architect behind this shadow alternate on Solana.
A number of sources near the developer neighborhood agree that the connection between Temporal and HumidiFi is an open secret. Temporal founder Ben Coverston repeatedly stated “no remark” when requested concerning the creator of the protocol, however didn’t deny the claims.
Moreover, screenshots of Telegram conversations have been leaked, revealing that researchers from prestigious corporations like Galaxy Digital have been verifying the hyperlinks. Temporal isn’t a brand new participant. The corporate is already identified for constructing vital infrastructure on high of Solana, such because the Nozomi execution layer, and investing in tasks like Backpack and Sanctum in its portfolio.
The Rise of Non-public AMMs and WET Tokens
The HumidiFi darkish alternate phenomenon in Solana isn’t an remoted case. That is a part of a rising pattern of “darkish AMMs” or non-public automated market makers. These protocols embrace different actors reminiscent of Tessera V (from Wintermute) and SolFi (from Ellipsis Labs), which function with out an end-user going through web site and don’t enable most people to offer liquidity.
As an alternative, they depend on non-public liquidity and order routing by means of aggregators like Jupiter. Via this construction, they’ll proactively handle their capital, shield themselves from arbitrage bots, and provide higher execution costs, which has not too long ago led to “darkish exchanges” capturing almost 70% of all Solana trades.
Revealing a developer’s identification happens at a strategic second. HumidiFi plans to capitalize on its success by launching its personal token referred to as WET later this month. The asset shall be launched on Decentralized Token Formation, a platform developed by aggregator Jupiter, which works carefully with HumidiFi.
Whereas the precise utility of the WET token has not but been made public, investor expectations are excessive provided that they’re betting on the infrastructure that presently controls a 3rd of buying and selling exercise available on the market’s quickest blockchain.
