Woofun AI reports that privacy protocol project PLabs has introduced PERC20, a new EVM-based standard for privacy tokens constructed upon the Zcash Orchard protocol. This initiative aims to transform the EVM into a "privacy protocol hub", where the native P20 token represents assets under this standard while keeping balances and transaction details invisible on-chain.

P20 facilitates ecosystem liquidity, fee settlements, and governance, allowing ERC20 assets to integrate via the Shield mechanism, though reverse conversion to ERC20 is currently unsupported. The total supply of 1 billion P20 tokens is allocated entirely through a genesis airdrop and protocol incentives, excluding pre-mining or private sales. By default, 80% of tokens are designated for users, with 20% reserved for the team and ecosystem funds, featuring halving distributions over time.