Zenrock launched its wrapped version of Zcash, zenZEC, on Solana and quickly generated $15M in trading volume, introducing ZEC liquidity into Solana’s high‑yield DeFi. The move surfaces questions around privacy, composability, and risk for treasuries and investors, according to Zenrock and reports collected by Phemex.
The launch places ZEC within low‑latency DeFi markets on Solana, where integrations into DEXs, staking, and additional protocols are planned. Debate now centers on how to balance custody security with privacy guarantees in cross‑chain wrappers.
Zenrock released zenZEC on October 31, 2025 and reached $15M in volume on Solana, based on the firm and market reports. The bridge is 1:1 backed in ZEC and uses a decentralized Multi‑Party Computation (MPC) network to shard private keys among nodes, which the company says avoids a single point of failure and strengthens custody. Zenrock is increasing liquidity on Solana DEXs like Orca and plans to expand integration to staking and other DeFi protocols.
Previous implementations of ZEC on Solana, such as the Zolana bridge (October 16, 2025), did not preserve Zcash’s native privacy and treated ZEC as a transparent SPL token, according to ecosystem analyses. Encifher introduced eZEC as a re‑wrap aimed at restoring privacy using advanced encryption and zero‑knowledge proofs, stating: “To truly make ZEC private on Solana, it should be re‑wrapped into encrypted assets like eZEC, where balances and transfers are hidden, yet composable with Solana DeFi.”
Launch and design: zenZEC, bridges, and privacy wrappers on Solana
zenZEC boosts ZEC liquidity in Solana’s low‑latency DeFi, facilitating swaps and potentially enabling positions in pools and derivatives markets. MPC key sharding reduces centralized custody risk, though it introduces operational dependency on Zenrock’s node network. The lack of native privacy in initial wrappers increases the appeal of solutions like eZEC for users and treasuries concerned with confidentiality; Encifher cites FHE, zk‑SNARKs, and threshold ElGamal encryption to hide balances and prevent traceability.
Zcash’s shielded pool exceeds 4.5 million ZEC (~27.5% of circulating supply), a figure cited in financial reports that, if sustained, reduces available liquid supply and can put upward price pressure, according to ecosystem observations and executives.
Zenrock plans to expand zenZEC to more DeFi protocols, explore decentralized custody, and consider a zenBTC token; the next operational milestone is integrating staking and new DEXs on Solana, according to the firm’s statements. In practice, the outcome of these integrations will shape how privacy and composability coexist for treasuries and investors on Solana.
