The Resurgence of Privacy Coins and the Question of Technological Advancement
With privacy coins experiencing a recent surge, market sentiment has once again focused on the privacy sector. However, beneath the market’s clamor, a deeper question emerges: Is the rise in privacy coins truly a victory for privacy technology? This AMA invited Ivan and Naufal, representatives from InitVerse Southeast Asia, to discuss the logic behind this “privacy wave” with MANANA CMO Sangmi, emphasizing that privacy is no longer synonymous with “hedging tools,” but has become a core direction for the next round of public chain infrastructure innovation, and how the dual-token driven model ($INI + MYUSD) can form a new growth engine in the on-chain financial system.
Market Movements vs. Technological Progress in Privacy Coins
Q1: Recently, privacy coins ZEC and DASH have seen significant increases. What’s your view on this wave of privacy coin price movements? Does this mean the privacy sector is entering a new cycle?
Ivan, representative from InitVerse Southeast Asia: I believe this price movement is more of a market hedging reaction than a sign of technological progress. When the US Department of Justice seizes huge amounts of BTC assets, funds naturally flow to “privacy coins” for hedging — this is a market instinct. Unfortunately, most so-called privacy coins have already stagnated at the technological level and lack a closed-loop ecosystem. The true future of privacy is not concealment, but order. ZEC represents “transaction anonymity,” while the next era is the era of “computational privacy.” This means privacy will be deeply embedded in smart contracts, data computation, and identity systems. This is the original intention behind building INIChain — to make privacy a system-level capability, not a temporary added feature.
Past privacy coins mainly solved “transaction anonymity,” while our focus is on the privacy of computation and interaction. INIChain integrates TFHE fully homomorphic encryption with the EVM environment, allowing developers to directly execute smart contracts in an encrypted state, thereby achieving data that is “usable but not visible.” This is the next era of privacy — not only can it be hidden, but it can also be used affordably.
INIChain's Unique Approach to Structural Privacy
Q2: Could you explain in more detail what makes INIChain different in terms of privacy? Why is it considered a representative of “structural privacy”?
Etheus: The main theme of privacy technology is shifting from “transaction concealment” to “privacy at the protocol and computational layer.” What INIChain does is build privacy into the underlying structure of the blockchain. We have three core innovative technologies:
- •VersaHash Algorithm: A multi-stage encryption and dynamic fault-tolerance mechanism that allows for parallel processing of high-privacy data without conflict with high performance.
- •Dual Dynamic Allocation (DDA) Mechanism: Real-time allocation of computing resources based on privacy and network needs, improving scalability and transaction confirmation speed.
- •Enterprise-Grade DApp Support Architecture: Supports parallel processing and low-latency execution, providing enterprise-grade performance for applications such as privacy-focused healthcare and energy finance.
Here, privacy is not a means to evade regulation, but the foundation of trusted computing. INIChain aims to empower users to use their data, encourage enterprises to adopt blockchain technology, and inspire confidence in blockchain.
Strategic Support for MANANA: The Financial Engine of the Privacy Ecosystem
Q3: Given this trend, what strategic considerations led InitVerse to support MANANA?
Naufal: MANANA is the financial engine of our privacy ecosystem. Breakthroughs in privacy technology must be accompanied by the implementation of economic models; otherwise, it remains merely an academic exercise. MANANA, through its dual-currency model of “MYUSD stablecoin + INI public chain token,” gives the privacy ecosystem its first self-sustaining financial dynamics. We believe that the privacy ecosystem can only sustainably develop when the flow of funds, computing power, and data forms a closed loop on the blockchain.
Therefore, InitVerse has decided to strategically invest in and co-develop technology with MANANA, including it in the core projects of the “Prometheus Project,” and will continue to invest in it. This is not just an investment, but an ecosystem synergy.
The Dual-Token Model: Driving Growth with $INI and MYUSD
Q4: Can you talk about the dual-token driven model? Many people are paying attention to the growth potential of $INI recently. Could you reveal the token’s future plans and growth logic?
MANANA CMO Sangmi: The core of the dual-token model is the dual-engine drive of “stablecoin interest generation + public chain value capture.”
- •MYUSD: A stablecoin backed by real assets and yield pools, users can earn daily returns after minting.
- •INI: As the governance and computing token of the entire privacy public chain, it plays the role of ecosystem fuel.
The proceeds from MYUSD will automatically repurchase $INI, creating a self-sustaining flywheel of “increased stablecoin usage → increased INI demand → increased coin price → more users → expanded stablecoin scale.” This is not a speculative model, but a sustainable financial architecture. In the privacy field, this is the first time that “privacy computing” and “cash flow” have been combined.
Southeast Asian representative Ivan: Of course. $INI is the value anchor of the entire InitVerse ecosystem. Its growth logic comes from three aspects:
- Ecosystem burning mechanism: As the issuance and use of MYUSD increase, the system will periodically and automatically repurchase and burn $INI, forming a positive supply and demand cycle.
- Growing demand for privacy computing: INIChain is a public chain that supports privacy training. Every computation requires the payment of $INI, and the demand for $INI will become increasingly stronger.
- Cross-ecosystem value capture: In the future, a portion of MANANA’s proceeds will be used to hold and stake $INI, creating a long-term lock-up effect.
From a macro perspective, the surge in ZEC and DASH is actually the market repricing the “privacy narrative.” INI’s narrative has evolved from “privacy transactions” to “privacy computing + compliance + on-chain finance.” Therefore, I believe $INI is currently on the eve of its next explosive growth, and its price may see a tenfold or even a hundredfold increase in the near future!
Ecosystem Collaboration: Driving a Larger Plan with MANANA
Q5: How will InitVerse collaborate with MANANA at the ecosystem level? Will it drive a larger ecosystem plan?
Naufal: Yes, our collaboration is systemic. We will simultaneously advance three plans in our cooperation:
- Privacy Payment Integration: MYUSD will become the first official stablecoin settlement standard on INIChain.
- Ecosystem Incentive Linkage: In the future, all DApps using MYUSD will receive Gas subsidies and $INI incentives.
- Cross-Chain Deployment Plan: We will help MANANA connect with mainstream ecosystems such as Base, BSC, and Solana to build a global liquidity network.
Simply put, MANANA is not only part of privacy finance, but it is the central system for the flow of value in the entire ecosystem. We hope that through MANANA, privacy computing will no longer be just a technology, but an engine of wealth.
The Future of Privacy Finance: Verifiable Transparency and Institutional Trust
Q6: The privacy narrative has been revitalized by the market. What do you foresee as the future direction of privacy finance? What are the goals of MANANA and InitVerse?
MANANA CMO, Sangmi: I believe the future of privacy lies in “verifiable transparency.” In the past few years, privacy coins have often been misunderstood as “tax evasion” or “dark web,” but with the advancements in zero-knowledge auditing and RegTech, we have entered an era of “both privacy and compliance.” In the future, we will focus on the following areas:
- •Stablecoin Globalization: MYUSD will be launched in Singapore, Indonesia, and Turkey by the end of the year, forming a regional payment loop.
- •Web3 Payment Integration: We are collaborating with Clown Wallet and several decentralized e-commerce platforms to create on-chain payment gateways.
- •Ecosystem Co-construction Plan: In the future, we will open up developer incentives to attract more DApps to adopt MYUSD as their settlement standard.
We don’t create speculative coins; we create financial infrastructure that generates real cash flow. Our goal is to build financial infrastructure that both protects privacy and is trusted by institutions.
Southeast Asia representative Ivan: The ZEC frenzy has ignited the privacy narrative, but the true privacy revolution is moving from “anonymous transactions” to “trusted computing.” Along this path, InitVerse and MANANA are reshaping the financial order with systemic privacy. When privacy transforms from “personal hedging” to “systemic consensus,” when MYUSD becomes a stable global settlement language on-chain, and when $INI fuels the entire ecosystem of the privacy economy, then privacy will no longer be a refuge in the shadows, but a trust system under the sunlight. Privacy is not about hiding, but about a free order. InitVerse and MANANA will define the future of this order.