what's Hibachi?

Hibachi is a decentralized exchange protocol for perpetual futures trading, engineered for professional traders with CEX-like performance and DeFi security. It employs an offchain central limit order book for sub-10ms latency matching, combined with zero-knowledge proofs posted onchain to verify execution, solvency, and settlements without exposing orders, positions, or trader identities. Powered by Celestia for data availability, RISC Zero for ZK, and integrations like Succinct's prover network, it overcomes onchain CLOB limitations like slow VMs and public data exposure. As a Circle Ventures portfolio company and Arc Builders Fund participant, Hibachi is expanding to a stablecoin-native FX exchange on Arc L1 blockchain, supporting spot and derivatives across FX pairs with KYC/AML, flexible custody, institutional compliance, instant settlement via sub-second finality, opt-in privacy, and stablecoin gas.