NEAR Protocol made confidential deposits the default for perpetual futures positions opened through its trading interfaces on September 17. The system routes deposits through a confidential shard using Confidential Intents and a trusted execution environment bridge, separating a trader’s public account from trading activity. It hides ownership and deposit origins but does not conceal the trades themselves, which remain visible on Hyperliquid’s order book. NEAR’s Hyperliquid integration, launched June 9, supports more than 50 markets, leverage of up to 40x and deposits from more than 35 chains, with NEAR Intents automatically converting funds to USDC. Hyperliquid processed roughly $240 billion in perpetuals volume during the 30 days before mid-September. NEAR’s token rose between 21% and 45% after the update, reaching approximately $3.21 to $3.45, while trading volume increased about 120%. The launch coincided with Confidential Intents’ total value locked exceeding $70 million and triggering the first snapshot for an incentive program. Existing initiatives include the conditional 333,333-token Push to $3.33 reward pool, while the product remains unavailable in the US and Canada for regulatory reasons.