The development studio will use COTI’s Garbled Circuits to power decentralized, trustless, and confidential auctions, while providing a blueprint and reusable code for other builders.
Alongside DEXes, auction markets have become vital platforms for trading assets in the DeFi space. Typically used for non-fungible tokens (NFTs) and assets that are hard to value, these services enable efficient price discovery and trustless exchange. However, the transparency of the blockchain leads to a variety of problems and abuses, from loss of financial privacy to front-running and sniping.
Agora, a new auction marketplace being built on COTI by Nikos Consultancy, aims to solve these issues.
Agora will enable trustless, efficient, low-fee, and private auctions for digital assets. Powered by Garbled Circuits, COTI’s solution for Decentralized Confidential Computing (DeCC), the platform will ensure a high degree of scalability, as well as low costs and real-time settlement, making on-chain bidding faster, more reliable, and more private than traditional EVM-based marketplaces.
Showcasing Garbled Circuits
COTI’s garbled circuits have recently been deployed in their first production use cases, which include supply chain logistics platform StaTwig and governance solution Syncra. There are dozens more projects in the pipeline, including both DeFi and non-financial applications.
Agora will showcase a new use for this technology. Nikos Consultancy, a full-stack development studio specializing in blockchain, AI, and distributed systems, is supported by COTI’s Builders Program. The initial phase of the project will see a proof of concept launched on COTI’s L2, offering private, decentralized, and trustless auctions.
Subsequent phases will see the platform built out into a modular platform supporting multiple auction models, multi-asset listings, and AI-powered bid analytics. Immediate next steps after initial mainnet deployment include:
Enabling verified user auctions through decentralized identity integration
Introducing cross-chain auction capabilities
Releasing a lightweight SDK for other projects to integrate COTI-based auctions seamlessly
Paving The Way For Builders
Agora is a real-world, high-frequency transaction use case that will highlight COTI’s advantage against a background of L2s and DeCC solutions, in particular, the network’s efficient and scalable privacy features.
However, COTI’s collaboration with Nikos Consultancy is about more than simply deploying Agora. The partnership is intended to contribute to COTI’s growing developer ecosystem by introducing a commercial-grade application that sets a blueprint for future dApps built using garbled circuits. There will be a particular emphasis on open integration, allowing other developers to build using Agora’s reusable components.
Alongside Yaru, our latest vibe coding initiative, Agora helps to position COTI as the ideal blockchain for privacy-focused Web3 builders. Follow the project on X for updates.
For COTI updates and to join the conversation, be sure to check out our channels:
Website: https://coti.io/
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GitHub: https://github.com/coti-io
