About Hinkal
Hinkal is a protocol that provides a unique on-chain data security layer that ensures complete anonymity for financial transactions and assets. Inspired by the rich and diverse ingredients of Georgia's khinkali dumplings, Hinkal offers a personalized financial experience by keeping users' transactions and assets private. The platform's ease of use and intuitive interface make it accessible to everyone, even those without technical expertise. Hinkal's core offering includes the Hinkal App and Hinkal SDK which allow EVM dApps and wallets to integrate privacy seamlessly without changing existing smart contracts.
Hinkal's relationship with Mad Devs began in Silicon Valley at Draper University, where Giorgi Koreli, one of Hinkal's founders, met Oleg Puzanov, Mad Devs' CSO and co-founder. The two entrepreneurs found they shared values, and when Hinkal needed blockchain and crypto expertise to realize their plans, Mad Devs was ready to offer them an expert team to bring their dreams to reality.
Challenges & Solutions
Companies involved in the crypto and blockchain industries engage in complicated and ambitious initiatives that pave the way for new methods and technologies. Hinkal is no exception and approached Mad Devs with exciting plans regarding interest-bearing tokens and protocols to ensure anonymity for transactions across all blockchains. Our team assessed the client's needs to understand the complexity of the task ahead. This required putting our experts' extensive theoretical knowledge of blockchains into practice through studying and preparation. The team also needed to acquaint themselves with Hinkal's large code base that employed various instruments.
With anonymity at the heart of Hinkal's mission, our experts needed to ensure that Hinkal's users could complete all their transactions while remaining unidentifiable to outsiders. This requirement accompanies our team in every task with Hinkal, and thanks to our experience on projects with Lido and RociFi, Mad Devs has the knowledge to tackle the tasks Hinkal brings to us.
Challenge
Hinkal wanted their users to invest in an interest-bearing token and gain any interest earned without identifying themselves. Theoretically, someone could receive the original amount they had invested, but the interest they accrued would have been difficult to claim. This was a unique problem because no one had ever been interested in this before Hinkal.
Solution
The Mad Devs team proposed a novel solution to use bonds that reflected the initial price users wanted to invest. They could cash in the bonds to get the original amount with any interest. To make this work, the team optimized the zero-knowledge proof testing process by adding new cases to account for this paradigm.
Interest-bearing tokens are cryptocurrencies or digital assets that accrue interest over time, similar to traditional savings accounts. They are commonly part of decentralized finance (DeFi) platforms, using blockchain technology to automate and secure interest payments. Users deposit their tokens into staking protocols, which generate interest through staking. The process is transparent, with real-time interest tracking. Interest-bearing tokens blend traditional finance principles with blockchain innovation.
Challenge
Hinkal wanted their users to invest in an interest-bearing token and gain any interest earned without identifying themselves. Theoretically, someone could receive the original amount they had invested, but the interest they accrued would have been difficult to claim. This was a unique problem because no one had ever been interested in this before Hinkal.
Solution
The Mad Devs team proposed a novel solution to use bonds that reflected the initial price users wanted to invest. They could cash in the bonds to get the original amount with any interest. To make this work, the team optimized the zero-knowledge proof testing process by adding new cases to account for this paradigm.
Challenge
Hinkal wanted their users to invest in an interest-bearing token and gain any interest earned without identifying themselves. Theoretically, someone could receive the original amount they had invested, but the interest they accrued would have been difficult to claim. This was a unique problem because no one had ever been interested in this before Hinkal.
Solution
The Mad Devs team proposed a novel solution to use bonds that reflected the initial price users wanted to invest. They could cash in the bonds to get the original amount with any interest. To make this work, the team optimized the zero-knowledge proof testing process by adding new cases to account for this paradigm.
Key results
Technology stack
Python
FastAPI
SQLAlchemy
Postgres
Meet the team
Mamed Nuriev
Product Owner, Web3 Delivery Manager
Roman Panarin
ML Team Lead
Review from client
I highly recommend Mad Devs. They brought skilled and diligent engineers to our project. It was easy to communicate with the team and discuss changes and new ideas. They value transparency, and we enjoyed it.
