TL;DR

• Sources confirm research firm Temporal as the creator of the HumidiFi protocol.
• The platform handled $40 billion in the last month, dominating a third of the volume on Solana.
• The project is preparing the imminent launch of its WET token through Jupiter’s platform.

Recently, the decentralized finance (DeFi) ecosystem on Solana has been dominated by an entity operating from the shadows, processing massive volumes without a traditional interface.

This platform has managed at least $40 billion in trades during the last month, and that entity is HumidiFi. Recent reports point to the crypto research and development firm, Temporal, as the architect behind this shadow exchange on Solana.

Several sources close to the developer community agree that the connection between Temporal and HumidiFi is an open secret. Although Ben Coverston, founder of Temporal, responded with a repeated “no comment” when asked about the authorship of the protocol, he did not deny the claims.

Furthermore, screenshots of Telegram conversations have been leaked, exposing researchers from prestigious firms like Galaxy Digital confirming the link. Temporal is not a new player; it is already known for building critical infrastructure on Solana, such as the Nozomi execution layer, and for having investments in projects like Backpack and Sanctum in its portfolio.

The Rise of Private AMMs and the WET Token

The phenomenon of the HumidiFi dark exchange on Solana is not an isolated case; it is part of a growing trend of “Dark AMMs” or private automated market makers. These protocols, which include other actors like Tessera V (from Wintermute) and SolFi (from Ellipsis Labs), operate without websites for end users and do not allow the general public to provide liquidity.

Instead, they rely on private liquidity and order routing through aggregators like Jupiter. Through this structure, they can actively manage capital, protect themselves from arbitrage bots, and offer better execution prices, which has led “dark exchanges” to capture nearly 70% of all trading on Solana recently.

The revelation of the developers’ identity comes at a strategic moment. HumidiFi plans to capitalize on its success with the launch of its own token called WET later this month. This asset will launch on Decentralized Token Formation, a platform developed by the aggregator Jupiter, which works closely with HumidiFi.

Although the exact utility of the WET token is not yet public, expectation among investors is high, given that they are betting on the infrastructure that currently dominates a third of the trading activity on the market’s fastest blockchain.