Protocol
Private trading
Holding privately is table stakes. The killer feature is trading privately — opening, sizing, and closing positions without broadcasting a single move.
Shielded execution
A Cowl trade runs entirely in shielded state. You prove — in zero knowledge — that you hold the input notes and that the swap is valid, and the pool settles it against a shielded counterparty or a private market maker. Your order never sits in a public mempool waiting to be read.
What stays hidden
| Signal | Public trade | Cowl |
|---|---|---|
| Position size | Visible | Hidden |
| Entry / exit timing | Visible | Hidden |
| Direction (buy / sell) | Visible | Hidden |
| Your address | Visible | Never touched |
Tokenized stocks, natively
Because Cowl settles on Robinhood Chain, the tokenized stocks you trade — AAPLx, TSLAx, and the rest — are native assets, and every leg settles in USDG. Private in, private out, pegged the whole way through.
Tip
Accumulation is where visibility hurts most. On a public venue your own buying moves price against you as watchers pile in. Shielded, you build the position before anyone knows it exists.
Related
- MEV & anti copy-trade — why invisible orders cannot be attacked.
- Shielded pool — the notes and proofs underneath.