📁 Source: Midnight-dApps/confidential-asset-management The TradFi-to-DeFi pipeline has been stuck on one specific question for half a decade: how do you give LPs the programmability and speed of public chains without doxxing the entire allocator book and giving away the GP's edge? Tribute, Enzyme, dHedge, and every other on-chain fund I've looked at has the same gap. They publish the cap table, they publish the holdings, and increasingly they publish the strategy. That's fine for retail trying their luck with $100. It's a deal-breaker for a real $100M fund. Midnight is the first chain where this trade-off actually splits the right way. AUM can be public. ROI can be public. Per-LP allocations stay private. Strategy stays off-chain. Auditors get verifiable counter values; LPs get the privacy they need to participate. This dApp is a working demonstrator of that model. ~120 lines of Compact, ~600 lines of React, four roles wired in (GP, LP, auditor, observer).…