https://techcrunch.com/2022/04/29/more-tradfi-in-defi-as-sienna-network-launches-siennalend-a-private-crypto-lending-platform/

It was last year that we covered the $11.2M fundraise for Sienna Network, the ‘privacy decentralized’ startup. The network is built on the Secret Network, which allows asset holders to switch to privacy-oriented tokens. Privacy-based financial blockchain projects are crucial if “DeFi” is to work properly, otherwise normal financial transactions – which are normally private in the traditional finance world – will struggle to take off.

Sienna is among several other blockchain startups trying to prevent “front-running”, where transactions on Ethereum can be preempted by someone else simply by them paying a higher transaction fee – just like trumping a trade on the stock market by paying a higher fee to a broker.