Privacy Cash: TVL Tracking for a Multi-Chain Privacy Protocol

2026-05-08

Privacy Cash is a multi-chain privacy protocol that allows users to transfer SOL and other assets privately using zero-knowledge proofs. Users deposit tokens into Privacy Cash's shielded pools, and the ZK-proof system enables withdrawals to a new address without revealing the link between the original deposit and the destination. The protocol launched on Solana and expanded to Base, Ethereum, Robinhood Chain, and Binance.

Total Value Locked represents the aggregate value of assets deposited in shielded pools across all five chains. Since the protocol is designed to break the link between deposits and withdrawals, individual user balances are intentionally unlinkable on-chain. TVL is therefore computed by reading the aggregate balance of the pool contracts: one read per pool per chain: rather than summing individual positions. This is the correct approach for privacy protocols: the pool balance tells you what is locked even when you cannot see who owns it.

The adapter queries privacy pool smart contract balances on each chain using standard balanceOf and RPC balance calls against the pool contract addresses. For Solana, the SPL token account holding deposited assets is read. Token prices are fetched from DefiLlama's price API and applied to convert each asset balance to USD. The sum across all chains and all supported assets gives total TVL, which sits at approximately $1.71 million. Privacy Cash is an interesting data engineering case because the shielded design that makes individual tracking impossible actually simplifies TVL computation: you only need to read a single aggregate balance per pool.

Website: privacycash.org · Twitter: @theprivacycash