Silent Protocol, a startup initiative led by researchers from TÜBİTAK BİLGEM, is focused on developing a scalable privacy layer for existing applications without the need to swap liquidity from existing pools. The project has received initial funding from venture capital firms such as Zee Prime Capital, Mechanism Capital, Hypersphere, and Daedalus, among others, and has recently secured a $5 million funding round led by Sora Ventures. Silent Protocol aims to extend its network into and beyond web3 by constructing a security layer for their applications compliant with MiCA regulations in the European Union, providing a crucial data privacy layer for institutions transitioning into the web3 space. Silent Protocol's approach offers a scalable privacy layer that doesn't necessitate liquidity swaps, which could shift how traditional financial institutions engage with the decentralized finance sector.