PAYY: PRIVATE-BY-DEFAULT EVM L2

Summary from the TLDR Crypto newsletter

Payy Network is Ethereum's first privacy-enabled EVM L2, where ERC-20 transfers are private by default without requiring smart contract modifications or specialized wallets. The architecture uses a chain-native privacy pool for direct transfers and offchain "Privacy Vaults" that allow developers to configure privacy levels via RPC parameters, creating a spectrum from fully private to fully compliant/public. The network targets both crypto natives seeking frictionless private transfers and TradFi institutions wanting to bring flows onchain without front-running or MEV risks.