Adding a privacy layer doesn't hide every part of a transaction.

Midnight's October 28 Sig Network announcement says individual balances and records can stay shielded on Midnight while assets remain on Ethereum. The Ethereum account's transaction amounts and timing are still public.

For $ETH builders, that boundary matters as much as the privacy feature. The announcement places the integration on Midnight stagenet, supporting deposits, Uniswap swaps, Aave supply and withdrawals; that status should travel with any description of its capabilities.