PLabs launches the EVM privacy token standard pERC20 based on Zcash Orchard and issues the native token P20

Foresight News reports that the privacy protocol project PLabs has announced the launch of a new EVM-based privacy token standard, pERC20. Built on the Zcash Orchard protocol, pERC20 aims to make the EVM the "center of privacy protocols." Its native token, P20, is the asset under this standard, with balances and transaction details invisible on-chain. P20 serves three main functions within the ecosystem: liquidity provision, fee settlement, and governance. ERC20 assets can enter this system and interact with P20 through the Shield mechanism, but P20 does not currently support Unshield back to ERC20.

The total supply of P20 is 1 billion tokens, distributed only through a genesis airdrop and protocol incentives, with no pre-mining or private sales. The initial circulation cap for the airdrop is set at 8% of the total supply, with the majority allocated for incentives. The default token allocation ratio is 80% to users and 20% to the team and ecosystem fund, with distributions halving periodically.