In the private system, is it sort of a return to previous market types or is it in itself a brand new playing field with like brand new ways that people would interact on it? I think there's a possibility for private DeFi to build this kind of hybrid best of both worlds situation where you can keep some of the confidentiality of people being able to do trading without leaking their strategy. But also you're in this totally open and permissionless environment. So I think now would be a good time to talk about Penumbra.

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