Hidden: balances and transfer amountsStored on-chain as ciphertext. Only the account owner can decrypt a balance; each transfer carries zero-knowledge proofs that it is valid.
Public: addresses and wrap / unwrap amountsWho holds an account, who sent to whom, and how much enters or leaves the reserve are visible. This is confidentiality of amounts, not anonymity.
Fully backedConfidential tokens are only minted against tokens deposited in the program's reserve, and are burned on unwrap. Supply always equals the reserve.
Self-custodial and permissionlessYour keys are derived in this page from your wallet's signature and never leave it. Anyone can wrap, send and unwrap; no one can freeze or move your balance.