Succinct and Hibachi Are Building the Endgame Exchange

Succinct is on the front line of the “CLOB Wars” — a battle to reshape how crypto exchanges are built. Our friends at Hibachi have fired the opening salvo. With ZK proofs from Succinct and encrypted data on Celestia, they’ve built a blazing-fast perps exchange where user balances and positions stay private. 

DEXs need an upgrade.

Onchain central limit orderbooks (“CLOBs”) expose critical information like user balances and positions. Traders suffer when sophisticated counterparties use this data to profit at their expense. James Wynn, a popular crypto trader, served as a cautionary tale after losing $100M in a week from his leveraged BTC position on Hyperliquid.

Moreover, onchain CLOBs suffer performance penalties due to the overhead of blockchain VMs and shared blockspace. Even the fastest onchain exchanges trail offchain venues like Coinbase, where orders clears in milliseconds.

Enter Hibachi: the endgame DEX, powered by Succinct. They’re fast where it matters and private where it counts.

Succinct propels crypto exchanges into the future

With Succinct’s ZK proofs and Celestia’s DA layer, Hibachi shows that speed and privacy are not mutually exclusive. By fusing onchain and offchain components in a new architecture (“Succinct proves CLOBs on Celestia blobs”), they deliver:

• Near-instant execution. Orders race through an offchain execution engine that rivals the fastest CEXs. In head-to-head benchmarks, Hibachi delivers 5 ms latency, 40x faster than pure onchain orderbooks like Hyperliquid.
• Perfect privacy. Hibachi encrypts exchange data, submits it to Celestia, and generates a ZK proof of the encrypted data with Succinct’s technology. The finalized proof is posted onchain and serves as the source of truth. Every action on the exchange, from fills to liquidations, is verified by ZK.

The resulting experience is as fast as offchain exchanges and as auditable as onchain ones. Most importantly, traders stay private, keeping their positions secure.

Hibachi’s launch is the opening salvo of the “CLOB Wars” — a battle to build the next generation of crypto exchanges. Succinct is central to this competition, as ZK allows teams to preserve verifiability while breaking free from the constraints of VMs and monolithic blockspace. ZK is no longer a nice-to-have: exchanges without it will be left behind.

From ZK exchanges to other vApps

CLOBs have been transformed by ZK, and other categories will follow.

Earlier in the year, we partnered with LayerZero on a new thesis for the industry: vApps. With SP1 and the Succinct Prover Network, teams can build performant and verifiable blockchain apps without the constraints of Solidity and the EVM. Any application — from verifiable games to ad auctions — can be redesigned as a vApp. 

vApps unlock the original promise of Web3: trustless, composable, and permissionless innovation.

Want to see Hibachi in action? Check it out here.

Ready to build your own vApp? Try SP1 and the Succinct Prover Network.