I don't know how they are going to implement it, but at the time nostr:npub1u8lnhlw5usp3t9vmpz60ejpyt649z33hu82wc2hpv6m5xdqmuxhs46turz commented that it was a coinswap, for practical purposes the same as Bitcoin Teleport or Mercury.

That is, you exchange an utxo for the utxo of another person, which changes the history of your transactions.

This has its advantages and disadvantages. While it is true that you do not eliminate the history of the coin as with coinjoin, it is also true that it is undetectable to the eyes of a third party observing the chain and improves fungibility with respect to a coinjoin since coinjoin coins are easily detectable and therefore censurable by services such as exchanges.