SEALED‑BID
OTC, PROVEN
FAIR.

Post a quote, take it with a sealed bid. Settlement reveals only the winner and the clearing price — every losing bid stays hidden, every outcome proven on Stellar.

Confidential OTC · Stellar testnet Open the desk
SEGEL — WHAT IT IS

A confidential OTC desk where bids are cryptographically sealed and settlement is zero-knowledge proven — not just promised.

[ maker posts RFQ ]
[ takers commit sealed bids ]
ZK SETTLE
winner + clearing price — nothing else
8+
Sealed bids per auction
0
Losing bids ever exposed
2
ZK circuits · BN254 Groth16
SEGEL — HOW IT WORKS

Three on-chain steps. Two ZK circuits. Zero leaked bids.

Step 01 · Post RFQ

A maker posts a request for quote — pair, size band, price range and a deadline — stored in the Soroban contract.

Pair & size band
Min / max price range
On-chain deadline
USDC escrow opens
Step 02 · Sealed Bid

Takers commit Poseidon(bid, nonce, addr). A range proof shows min ≤ bid ≤ max — invalid bids die on arrival, the amount never leaks.

Poseidon commitment
In-browser proving
Proof-of-funds + allowlist
Bid stays hidden
Step 03 · ZK Settle

One proof reveals only the winner and the clearing price. The second-highest bid sets the price (Vickrey), computed entirely in-circuit; losing bids never appear.

Winner + clearing price only
Vickrey second-price, in-circuit
Commits bind to on-chain set
Atomic escrow release
SEGEL — THE ZK STACK

Every primitive below is load-bearing. Pull one out and the desk stops being trustless.

e(·,·)
(*) BN254P25
BN254 Pairing
Groth16 verify — trusts the auction outcome on-chain
Σ aᵢGᵢ
(*) BN254P26
BN254 MSM
Accumulates the public-input vector inside the verifier
P(x)
(*) HOST FNP25
Poseidon Hash
Rebuilds commits on-chain — binding, not decorative
USDC
(*) SOROBANSAC
Soroban Escrow
Real USDC custody, atomic release to the winner
∈ G
(*) CURVEP26
Curve Membership
Rejects malformed proofs before they ever verify
SEGEL — VERIFY IT

Every claim ships with a proof link. Don't trust the deck — check the chain.

01 · CONTRACT
OTC contract on Soroban
RFQ, commit-set, escrow & settle — live on stellar.expert
02 · VERIFY TX
A real ZK verify tx
bidValidity Groth16 proof verified on-chain → true
03 · CIRCUITS
auctionResult verifier
Vickrey settlement verifier — tampered input rejected

SEAL YOUR
FIRST TRADE.

Grab testnet USDC from the faucet, post an RFQ and settle with a zero-knowledge proof in minutes.