Mind Network (FHE)

bearish on fhenix

not because the founders were involved in failed projects, i mean most things here are experimental and it's okay to fail at it

there's not a single, simple, ct-adaptable usecase/application yet for this tech after the biggest fhe project went live on mainnet

after building for years and raising a shít ton of money btw

the tech topped with the yellow logo p, just like how svm topped with eclipse

thanks for your attention to this matter

I will not be interacting to @fhenix for 2 reasons :

1. founder's 3rd project with 2 failed pjs in past
2. fhe tokens underperforming

zama underperformed for public ico participants even after top notch fundings, team and tech - fhenix is not looking good here

about founder's past :

fhenix is going to be the 3rd project being launched by @ GuyZys as a founder - first was Enigma which failed miserably and second was @ SecretNetwork which was rebrand of enigma - it underperformed aswell

Guys was founder and CEO for both enigma and secretnetwork

in 2017 he launched Enigma MPC and raised 45m funds from presale and a publicsale by giving out 50% of total ENG supply - 81m fdv for presale and 90m fdv for public

later in feb 2020 US securities charged them for conducting an unregistered sale and imposed $500k as a penalty and ultimately team decided to shutdown enigma and rebrand into secretnetwork via unanimous community governance proposal to launch another token called $SCRT

in June 2020 a community led swap from ENG to $SCRT occurred at a 1:1 ratio (1ENG burned for 1SCRT mint/receive)

the current onchain fdv for ENG is 1.1m and ATH fdv for SCRT was around 40m - way lower than enigma sale valuation

secretnetwork also claims to have around 400m as ecosystem funds but yet its barely surviving with current 36m valuation which doesn't make sense

make sure to dyor, good luck

As a user and tester, I’ve been actively trying privacy-focused dApps, especially builds coming from the Fhenix + Redact ecosystem, and the progress is honestly impressive.

What excites me most is how confidential execution is moving from theory to real usable products.
While testing, I noticed how private smart contract interaction can protect inputs and onchain behavior without breaking UX, that’s a big shift compared to most public-by-default dApps.

Some standout things while exploring these projects:

• Privacy built into contract logic, not added later

• Smooth user flow even with encryption running underneath

• Real use cases like private DeFi actions and secure data handling
From my testing experience, privacy infra projects like these feel much closer to real-world adoption readiness.

I’ll keep testing new releases and sharing feedback as features go live.

@fhenix @RedactMoney