What Sienna Networks does

Sienna Network is a privacy-first, cross-chain decentralized finance protocol built on Secret Network, founded in 2021 and operated as a Decentralized Autonomous Organization (DAO) rather than a traditional corporate entity. The platform's flagship products are SiennaSwap, a decentralized exchange with an Automated Market Maker (X*Y=C) and 0.30% swap fees, and SiennaLend, described as the first private lending protocol supporting wrapped Bitcoin (sBTC) and Monero (sXMR) with variable interest rates and up to 80% loan-to-value ratios. All transactions are private by default through Secret Network's privacy-preserving smart contracts (SNIP-20 tokens) running inside Trusted Execution Environments (TEEs), which the company markets as built-in front-running resistance.

The protocol's product surface extends across SiennaDAO (token-holder governance with private voting), SiennaLaunch (an IDO launchpad), IBC Wrapping (cross-chain conversion for tokens such as SCRT, ATOM, OSMO, LUNA, and AKT), and Bridges enabling wrapped SIENNA (wSIENNA on Ethereum, SIENNA BEP-20 on BSC). Governance is conducted through the SIENNA token, which has a 10M total supply, requires 30,000 SIENNA to submit proposals, and operates on a 7-day voting window with simple majority approval. The platform is self-serve and permissionless — no signup required — and distributes the SIENNA token on centralized exchanges (KuCoin, MEXC, Gate.io, Bitmart, Hotbit) and decentralized venues (Uniswap, PancakeSwap, SiennaSwap).

The business model is non-traditional: Sienna is described as a non-proprietary, non-commercial open-source project. Protocol-level value accrual occurs through the 0.02% buyback-and-burn portion of swap fees, but the entity captures no traditional revenue. The project was capitalized with an $11.2M funding round in May 2021 from over 20 crypto-native venture funds (NGC Ventures, FBG Capital, DAO Maker, LD Capital, AU21 Capital, Inclusion Capital, Magnus Capital, and others), and has undergone security audits from Halborn and Certik across multiple protocol components. Customers are anonymous, permissionless DeFi users — liquidity providers, traders, and borrowers — with no enterprise customer relationships evidenced.

Name

Sienna Networks

Legal name

Sienna

Website

https://sienna.network

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Sienna Network is a privacy-first, cross-chain DeFi protocol built on Secret Network, operating as a DAO since 2021. It offers SiennaSwap (private DEX) and SiennaLend (private lending) to anonymous DeFi users, governed by the SIENNA token (10M supply) with no traditional corporate revenue model.

Ownership category

akta.pro rank

Product category

Decentralized Finance (DeFi) Protocol

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto/Web3 Neobanks (FSABAFAG)

akta.pro secondary industries

Digital Banking & Neobank Platforms (BPAMAFAD), Oracle Node Operators & Data Provider Networks (FSADAKAH)

Keywords

• Decentralized exchange
• Privacy-preserving defi
• Automated market maker
• Crypto lending protocol
• Cross-chain bridges

Headquarters

HQ city

Terrace

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Swap Fees: SiennaSwap charges 0.30% per swap. Of this, 0.28% is distributed to liquidity providers proportionally to their share of the pool, and 0.02% is automatically converted to SIENNA tokens and burned to reduce total supply.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Sienna Networks is a privacy-first, cross-chain decentralized finance protocol built on Secret Network that enables private token swaps, lending, token launches, and governance. Its suite of products includes SiennaSwap (AMM-based DEX), SiennaLend (private lending with over-collateralization), SiennaLaunch (token launchpad), SiennaDAO (governance with private voting), IBC wrapping, and cross-chain bridges — all powered by the SIENNA governance token and leveraging encrypted smart contracts to eliminate front-running.

Product overview

Sienna Network is a privacy-first DeFi protocol suite built on Secret Network featuring multiple integrated products: SiennaSwap (a cross-chain DEX for private token swaps), SiennaLend (private lending protocol), SiennaDAO (governance system), SiennaLaunch (launchpad), IBC Wrapping (cross-chain token conversion), and Bridges. The ecosystem is powered by the SIENNA governance token (10M total supply) and leverages Secret Network's privacy-preserving smart contracts to enable transactions without front-running. The protocol is fully decentralized with transactions confirmed in seconds and costing a fraction of Ethereum's fees.

Differentiator

Problem solved

Functional benefit

Brands

• SiennaSwap: A privacy-first, cross-chain decentralized exchange (DEX) on Secret Network enabling private token swaps with zero front-running. Features an Automated Market Maker (AMM) with X*Y=C pricing formula and 0.30% swap fees (0.28% to liquidity providers, 0.02% to SIENNA token burn).
• SiennaLend
• SiennaLaunch
• SiennaDAO
• IBC Wrapping
• Sienna Bridge

Products and services

• SiennaSwap Privacy-first, cross-chain decentralized exchange (DEX) on Secret Network that enables private token swaps with zero front-running. Uses an Automated Market Maker (AMM) with the X*Y=C pricing formula and a 0.30% swap fee split (0.28% to liquidity providers, 0.02% to SIENNA token burn). Built for DeFi users seeking confidential trades.
• SiennaLend World's first private lending protocol enabling permissionless, private lending and borrowing of wrapped tokens including private Bitcoin (sBTC) and Monero (sXMR). Features variable interest rates, an over-collateralization model with up to 80% LTV, and Band Protocol price oracle integration. Supports markets including sSCRT, sXMR, sATOM, sOSMO, sUSDT, sUSDC, sDAI, sWBTC, sETH, sAAVE, sMANA, sBNB.
• SiennaLaunch Launchpad/IDO platform for new project token launches within the Sienna Network ecosystem, enabling privacy-enabled token sales as part of the DeFi product suite.
• SiennaDAO Governance framework enabling SIENNA token holders to vote on protocol proposals (core adjustments, new implementations, spending) with 1 SIENNA = 1 vote, a 7-day voting period, simple majority (50.1%) threshold, and 30,000 SIENNA minimum to submit proposals. Uses private voting through Secret Network's private smart contracts to prevent outside influence.
• IBC Wrapping Built-in wrapping tool that converts native Inter-Blockchain Communication (IBC) tokens into secret SNIP-20 tokens for use within SiennaSwap. Supports SCRT, ATOM, LUNC, LUNA, OSMO, DVPN, HUAHUA, JUNO, STARS, GRAVITON, and AKT conversions to enable cross-chain private trading.
• Sienna Bridge Cross-chain bridge functionality enabling conversion between SIENNA tokens on different blockchains — including wSIENNA (ERC-20 on Ethereum) and SIENNA (BEP-20 on Binance Smart Chain) — and their private equivalents on Secret Network, facilitating access to the SiennaSwap platform.
• SIENNA Token SIENNA governance token with 10 million total supply that powers SiennaDAO voting (1 SIENNA = 1 vote). Exists as native SIENNA on Secret Network, wSIENNA (ERC-20 on Ethereum) tradeable on Uniswap, and SIENNA (BEP-20 on BSC) tradeable on PancakeSwap. Token holders with 30,000+ SIENNA can submit governance proposals.

Quantifiable outcome

• 0.30% swap fee (0.28% to LPs, 0.02% to SIENNA buyback/burn)
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Secret NetworkcoreTechnology or IntegrationSienna is built on Secret Network, the first blockchain with privacy-preserving smart contracts. Secret Network provides the underlying infrastructure enabling private transactions, encrypted inputs/outputs, and TEE-based secure computation.
• HalborncoreTechnology or IntegrationHalborn conducted multiple security audits of Sienna's smart contracts including SiennaSwap V1, V2, SiennaLend, Rewards V3, Launchpad IDO, and other protocol components.
• CertikcoreTechnology or IntegrationCertik leads blockchain security using Formal Verification technology to mathematically prove program correctness and hacker-resistance for Sienna's smart contracts.
• Band ProtocolcoreTechnology or IntegrationBand Protocol is the data oracle provider for SiennaLend, providing price feeds and real-world data for the private lending protocol.
• SwitchereminorChannel Partner/ Reseller/ DistributorSwitchere is a licensed crypto exchange enabling users to purchase wSIENNA directly via fiat on-ramp services.
• StashhminorChannel Partner/ Reseller/ DistributorNFT marketplace on Secret Network where users can buy and sell NFTs using SIENNA as payment.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Others

• Secret Network: The underlying L1 blockchain on which Sienna is built. Sienna is essentially a flagship application of the Secret Network privacy-preserving smart contract platform.

Direct peers

• Manta Network: Privacy-preserving DeFi protocol offering private swaps and lending using zk-SNARKs. Comparable to Sienna's privacy-first DeFi thesis, though built on Polkadot/Substrate rather than Secret Network.
• Panther Protocol: Privacy-preserving DeFi protocol that enables confidential transactions and compliant privacy on public chains. Targets a similar compliance-aligned privacy DeFi thesis as Sienna.
• Railgun: Privacy protocol on Ethereum enabling private DeFi activity via zk-SNARKs. Comparable as a privacy-by-default DeFi primitive serving similar privacy-conscious user segment.
• Aztec Network: Privacy-focused L2/DeFi protocol on Ethereum using zk-rollup technology. Comparable target market (institutions and users needing confidential DeFi) with overlapping lending/swap primitives.
• SecretSwap: Privacy-first AMM DEX on Secret Network. Directly comparable to SiennaSwap in product (AMM), chain (Secret Network), and customer base (privacy-conscious DeFi users).

Emerging players

• Trader Joe: Decentralized exchange and DeFi platform on Avalanche. Comparable as a multi-product DeFi suite (swap, lend, launchpad) targeting similar retail DeFi user segments, though without privacy focus.
• Renzo Protocol: Liquid restaking and DeFi protocol on Ethereum. Comparable as a DeFi protocol building modular products on a major chain, though in a different vertical (restaking vs. privacy).
• Iron Fish: Privacy-focused Layer 1 blockchain aiming to be a fully private cryptocurrency. Comparable as a privacy-blockchain infrastructure project though not directly a DeFi suite like Sienna.

Broad incumbents

• THORChain: Cross-chain liquidity protocol enabling native asset swaps. Comparable to Sienna's cross-chain ambitions (IBC Wrapping, Bridges) and decentralized exchange primitive, though without the privacy layer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/sienna_network
• GitHubgithub.com/SiennaNetwork
• LinkedInlinkedin.com/company/sienna-networks

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sienna Networks