Cowl Protocol
Trade unseen. Stay compliant.
Cowl is private trading on Robinhood Chain. You hold and trade tokenized stocks with your positions shielded from the public ledger, and disclose to an auditor only when you choose to. Hide your edge from the crowd — not from the law.
Testnet-first
The CLI is live today for local crypto and testnet reads. Shielded-pool contracts deploy to public networks after audit — see the security model.
What Cowl gives you
Privacy
Shielded portfolio
Balances, size, and cost basis never hit the public ledger — the explorer sees a commitment, never your book.
Open ExecutionPrivate trading
Entries, exits, and size stay invisible while you execute. Accumulate or unwind without broadcasting a move.
Open ProtectionMEV & anti copy-trade
No visible order to front-run, no visible entry to mirror. Private execution removes the bait.
Open ReceivingStealth addresses
Every deposit lands on a fresh address where nothing on-chain ties the funds back to you.
Open AccessGasless relayer
Trade without a gas balance or a doxxed funding wallet — the relayer pays and takes a small fee.
Open ComplianceSelective disclosure
Hand an auditor a view key that shows exactly what they are owed, and nothing else.
Open How a private trade flows
Every action is the same authenticated pipeline — signed locally, verified on-chain.
You · app / CLI / SDK
cowl shield · trade · send
signed ZK proof (local)
Gasless Relayer
pays gas · broadcasts
no wallet points back at you
ZK Shielded Pool
deposit · trade · withdraw
verified on-chain
On-chain Verifier
checks the zero-knowledge proof
receipt
Your view key
balances update privately — nothing public
What Cowl is not
Not a mixer
Disclosable by design
The point is not to break links for their own sake — it is to keep your position off the public tape while it stays disclosable to the people you owe answers to.
Not payments
A trading venue
Cowl trades tokenized stocks and tokens, settled in USDG. Private transfers exist to serve trading, not to move money around.
Not anon-at-all-costs
Compliant privacy
Pure anonymity is what gets protocols delisted. Cowl pairs privacy with view keys so you can answer an auditor without going public.
Protocol properties
Non-custodial
Your keys stay on your device. No service — not the app, the relayer, or governance — can move your funds.
ZK-shielded
Balances and trades live inside zero-knowledge proofs. The block explorer sees commitments and nullifiers, never amounts or addresses.
Compliance at the boundary
Funds are screened before they enter the pool, so tainted assets never get in — the shielded set stays clean and defensible.
Relayer can censor, not seize
A relayer pays gas and may drop a transaction, but can never read amounts, move funds, or deanonymize you. Route around a bad one.
Selective disclosure
View keys are read-only and scoped. There is no switch that makes an account public.
Testnet-first
Everything that can be real today is real; shielded-pool operations light up on public networks after audit.
Robinhood Chain
Cowl settles on Robinhood Chain, an Arbitrum-based L2 where your tokenized stocks already live — fast, cheap, and native to the assets you trade.