Private bond infrastructure on Mantle. Tokenize bonds with custom APY, trade on a TEE-powered dark pool, and earn yield — no front-running, no MEV, full privacy.
SHADOWBOND
Private Bond Infrastructure on Mantle Network
OVERVIEW
ShadowBond is a full-lifecycle, privacy-first bond platform on Mantle Network. It enables tokenized bond issuance, private secondary trading through a dark pool, and automatic yield distribution, bringing institutional-grade bond infrastructure on-chain while remaining accessible to retail investors.
PROBLEM
The global bond market, valued at over 130 trillion dollars, remains illiquid, opaque, and exclusive. Bond trading is largely OTC, requires high minimum investments, lacks price transparency, and offers no privacy protection on-chain. Existing DeFi platforms expose order sizes and strategies, making them unsuitable for institutional or compliant bond trading. There is currently no dark pool for tokenized bonds on major L2s.
SOLUTION
ShadowBond bridges traditional bond markets and DeFi by offering a unified platform that supports bond tokenization, private trading, and yield earning. It enables fractional bond ownership, eliminates intermediaries, and protects trading strategies while maintaining full on-chain settlement and compliance.
CORE CAPABILITIES
Tokenized bond issuance with customizable APY, maturity, supply limits, and minimum investment amounts.
Private dark pool trading using Trusted Execution Environments, where orders are encrypted and matched off-chain.
Automatic yield accrual and distribution to bondholders throughout the bond’s lifetime.
BOND ISSUANCE
Issuers can create ERC-20 bond tokens with configurable financial terms. Investors deposit stablecoins to mint bond tokens, earn yield over time, and redeem principal plus accrued yield at maturity.
PRIVATE DARK POOL
Secondary trading occurs through encrypted orders matched inside a TEE. Trade details remain private, preventing front-running, MEV, and strategy leakage. Only cryptographic proofs are posted on-chain, while settlement happens atomically on Mantle.
COMPLIANCE & PRIVACY
ShadowBond integrates zero-knowledge KYC via Reclaim Protocol, allowing users to prove eligibility without revealing personal data. Credentials are reusable and compliant while preserving privacy.
YIELD & PORTFOLIO
Bondholders earn continuous APY, claimable or auto-compounded. A unified dashboard tracks portfolio value, accrued yield, maturities, and trade history.
WHY MANTLE NETWORK
Mantle offers low gas fees, fast finality, EVM compatibility, and strong RWA ecosystem alignment. Its integration with Phala TEE enables private order matching, making it uniquely suited for institutional-grade, privacy-preserving bond markets.
BUSINESS MODEL
Revenue is generated through small issuance fees, per-trade settlement fees, and a minimal percentage of distributed yield. The platform aligns incentives for issuers, institutions, retail investors, and market makers.
POSITIONING
ShadowBond is the only platform combining tokenized bond issuance, private dark pool trading, regulatory compliance, and full on-chain settlement on an L2.
CONCLUSION
ShadowBond democratizes access to yield-bearing bonds, protects institutional trading privacy, ensures compliance without data exposure, and brings modern bond infrastructure to DeFi. It is building the future of private, on-chain bond markets on Mantle Network.
During the hackathon, we built ShadowBond from the ground up: Smart Contracts (Solidity/Foundry): - BondFactory for deploying tokenized bonds with custom APY - BondToken (ERC-20) with automatic yield calculation - Settlement contract for private atomic swaps - TradingPermit for soulbound KYC credentials - All deployed and verified on Mantle Sepolia TEE Backend (Phala Network): - Encrypted order book running in Intel TDX enclave - Price-time priority matching engine - Settlement proof generation Frontend (Next.js/TypeScript): - Bond issuance flow with configurable parameters - Dark pool trading interface - Portfolio dashboard with yield tracking - Reclaim Protocol KYC integration - RainbowKit wallet connection Deployed: - Live demo: shadow-bond.vercel.app - 5 contracts on Mantle Sepolia - TEE on Phala Cloud
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