Anneal

I have traded options for years, and some of my own money is still sitting in Katana today. That experience made the weaknesses of many on-chain options structures concrete to me: public order books reveal positions, while vaults lock collateral and leave the trader with little control over execution.

Anneal is the market I wanted instead: an Option DEX on Solana, built as a private over-the-counter market. A trader describes the option they want; a zero-knowledge proof keeps their budget hidden, so writers compete on price rather than on what they know about you; agents run the auction, a human approves, and the chain settles. The point is better capital efficiency for the trader, without ever showing the market your hand.

My part was the protocol design, the zero-knowledge prototype that keeps the buyer’s budget private, and the option flow. The on-chain program is written in Rust with Anchor. I built it with Yuzhi Zeng, Catherine Chen, Haorui Chen, Ying Ting How and Jerry Ho; we started it in March 2026 and built it for Colosseum Frontier, which ran from April to May 2026, and it is currently on devnet.