Making RWA private.
ZK-SNARKs integrated into the ERC-1400 standard. The stealth layer for RWA.
Try it with real proofs
A security token tells everyone who owns what.
ERC-1400 gave tokenised securities what they needed to be issued properly: partitions, transfer restrictions, documents, issuer controls. It also put every holder, every balance and every trade on a public ledger, readable by anyone, forever.
No fund publishes its cap table. No desk announces its position before it finishes building it. Obsidian keeps the standard and its rules, and takes the cap table off display.
Any security you can tokenise, you can shield.
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Real estate
Fractional ownership without a public list of who owns which floor.
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Treasuries and bonds
Build and roll a position without showing the market its size.
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Commodities
Metal and warehouse receipts that change hands without revealing inventory.
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Private credit
Loans and receivables whose lenders and sizes stay between the parties.
One transfer, seen from outside.
- From
- 0x7a3F…c91E
- To
- 0x04bD…2A60
- Partition
- Class A, locked until 2027
- Amount
- 250,000 units
- Recorded on-chain
- Sender, receiver and both new balances
- Transfer rules
- Checked against public data
Illustrative values. The partition stays public, and so do the moves into and out of the shielded side. Everything in between is what the second view shows.
How a position goes dark and stays compliant.
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Shield
A holder moves tokens into the shielded side of the same ERC-1400 token. The deposit itself is public. What it becomes is a commitment: a number in a Merkle tree that says nothing about who holds it or where it goes next.
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Prove
To transfer, the sender builds a ZK-SNARK on their own machine. It shows they own the notes they spend, that inputs equal outputs, and that every receiver is on the issuer's eligibility list, without naming anyone.
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Verify
The contract checks the proof and nothing else. If it holds, the spent notes are nullified and new commitments are written. No address pair, no amount, no balance change to read.
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Control
The public side is still plain ERC-1400: partitions, documents, forced transfers. On the shielded side the controller can pause the pool and freeze a note once it is disclosed. It cannot move what it cannot see.