Payy Network has launched as Ethereum's first privacy-enabled Layer 2 solution, aiming to make ERC-20 token transfers private by default. Users don’t need to change their smart contracts or wallets; simply adding the Payy Network to MetaMask allows for seamless, private transactions. The core functionality relies on a privacy pool that holds all ERC-20 tokens, ensuring that direct transfers occur within this pool. When interacting with smart contracts, users withdraw to a new address, with transaction data stored offchain in Privacy Vaults for compliance and analysis. The primary audience for Payy includes crypto enthusiasts who want to manage their assets privately without the hassle of multiple wallets, and financial institutions looking to operate on-chain while protecting their data from scrutiny. The launch is backed by significant stablecoin partnerships, which will be revealed shortly. Payy plans to attract 100,000 users from day one through its dedicated wallet, aiming to establish a strong presence in the market with substantial total value locked (TVL).