IMO it can be used for other purposes than proxy.
I don't think the name is worth a lot (high $$ ?) but if you have an idea in mind it gives you an edge in advertising and for promotion purposes as it sounds good, it's short and easy to remember.
what is more, it is also a perfect domain for anything related to encryption!
maybe some company interested in data security is paying 200-300 ?
you have to find out or dev it or better dev it and find out
Anyways if you are not developing it as a proxy , I'd rather go towards encryption..