The First Beta Release of the Shutterized
@gnosischain
Is Now Live!
The
@GnosisDAO
,
@NethermindEth
, and Shutter teams are thrilled to announce that threshold encrypted transactions are live on Gnosis Chain mainnet!
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Shutter Roadmap 2024 (And Beyond)
Our vision for Shutter goes beyond the current state of technology.
In this blog post, we'll outline our upcoming plans, ideas, exciting developments, and collaborations for 2024 and beyond.
Weโre thrilled to unveil the latest milestone in our journey towards building an encrypted, shutterized mempool for the
@Optimism
OP Stack, marking a significant leap towards a more secure, front-running and censorship resistant Optimism ecosystem.
Hello world!
We would like to introduce Shutter Network, an open-source project that aims to prevent frontrunning and malicious MEV on Ethereum by using a threshold cryptography-based distributed key generation (DKG) protocol.
Read our announcement here:
We're excited to announce that a proposed blueprint for launching a DAO-powered implementation of Shutter Network has been published!
Letโs go, forza mempool encryption and base layer neutrality!
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Shutterized Gnosis Chain Debuts in July!
We're excited to announce that the Shutter protocol will soon be available on
@gnosischain
mainnet, enhancing blockchain security and fairness for
#DeFi
.
Shutter: Leveling the Playing Field
Today, we want to express our vision of what Shutter represents and clarify its importance at this pivotal moment of technological advancement, collaborations within the ecosystem, and community involvement.
Shutterized OP Stack Testnet SHOP Now Live on Sepolia!
We are thrilled to inform you that the Shutterized Optimism testnet L2 is now live on Sepolia.
This launch marks the availability of a Shutterized encrypted mempool for the OP Stack.
Shutter DAO 0x36 has been successfully deployed, which means genesis allocations for $SHU are now claimable!
The genesis allocation is a targeted, small allocation specifically for early community members and users of Shutter protocols & solutions. The Shutter Token, $SHU, is
Hey, restaking friends! We're excited to share insights from collaboration with the
@eigenlayer
team to integrate EigenLayer and Shutter for Keyper restaking.
There are two concrete technical phases that could be proposed for Shutter DAO 0x36.
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Congratulations to the
@eigenlayer
team on their Mainnet launch! ๐
Check out this blog post to learn more about our ongoing work with theย Eigenlayerย team to integrate EigenLayer and Shutter to increase the Shutter protocol's security.
Shutter DAO 0x36 is launching a Liquidity Bootstrapping Pool (LBP) on
@FjordFoundry
starting Wednesday, Feb 21st, 2024. This move aims to facilitate price discovery and market health for the SHU token.
This step is a crucial milestone in the journey of 0x36 towards complete
We're proud that Shutter Governance is integrated and usable now for all DAOs using
@SnapshotLabs
!
By implementing Shutter
#Governance
, Snapshot is now bringing shielded voting to
#Ethereum
in the form of partial privacy using threshold encryption.
We're thrilled to announce that
@alt_layer
now features Shutter integration!
AltLayer rollups can integrate an encrypted mempool with threshold encryption, enhancing MEV protection and censorship resistance.
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Shutter is a protocol promoting base layer neutrality & accessibility using threshold encryption & a DKG mechanism.
Until now, we focused on preventing malicious MEV & vote manipulation.
Today, we're thrilled to announce a new application: commit-reveal online dating!
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Exciting news! ๐
@modenetwork
and Shutter announce the upcoming Shutterized Mode testnet launch in 3 weeksโa big leap towards a fully MEV-aware ecosystem.
A more secure, censorship-resistant, and equitable Mode is on the horizon.
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The Liquidity Bootstrapping Pool deployed by Shutter DAO 0x36 on
@FjordFoundry
has concluded.
Highlights:
- 8.31M USDC raised
- 1996 participants
A significant milestone, paving the way for further expansion, community involvement, and decentralization
Update: A Shutter DAO has been deployed following our blueprint! Discover more in our blog post.
Meet Shutter DAO 0x36, a live instantiation of our proposed Shutter DAO model
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Hey DAO and cryptography people!
We proudly present to you Shutter Governance, a tool for governance platforms to introduce shielded voting for their users.
We are already working with
@SnapshotLabs
and
@Kleros_io
to integrate Shutter Governance.
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The Shutterized Chiado testnet is now live, marking the first implementation of the Shutter protocol on a full testnet.
We aim to enhance the
@gnosischain
ecosystem through transaction encryption as we progress towards the Shutterized Gnosis Chain.
We published a post, โShutterized Beacon Chain,โ for
@Ethereum
at the
@EthResearch
forum.
It proposes implementing a Shutter-like DKG in the
#Ethereum
2.0/beacon chain, thus mitigating front-running and malicious
#MEV
directly at the execution layer.
We're thrilled to announce a new collaboration between Shutter and
@EspressoSys
, aiming to provide any L2 benefiting from the Espresso decentralized/shared sequencer with an encrypted mempool module.
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We're thrilled to announce a total of $2.36M in contributions towards Shutter Network - our open-source project for preventing front-running, malicious MEV and censorship on Ethereum!
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There are MEV issues like front-running and sandwich attacks. These involve changing transaction orders, using pending transaction information to gain an advantage, and placing orders before and after a trade.
Learn more in this
@Cointelegraph
article.
Weโre thrilled to announce that Shutter is receiving a grant worth 30k OP from
@OptimismGrants
!
This is the first step towards an encrypted mempool for added censorship resistance and front-running protection for the OP Stack.
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Shutter ELI 5:
Imagine you're playing a secret game with your friends, where you all need to put a piece of a secret code together to open a treasure chest. In the Shutter protocol, this game is played by computers (called nodes) to protect important information like
Just over a month ago, it was announced that the alpha Keyper testnet for Shutterized
@gnosischain
was live on Chiado. Yesterday, the first Shutterized, encrypted transaction was sent on Chiado by
@marchhill1
! ๐
A shielded mempool using threshold encryption for the modular OP Stack is on the horizon!
We're happy to let you know that we've completed the first two deliverables of our
@optimismFND
OP Grant ๐ฅ
Read more in the blog
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Yesterday we announced that SHOP, the Shutterized OP Stack Testnet is live.
There is now also a demo app where you can test encrypted transactions, go give it a try!
Shutterized OP Stack Testnet SHOP Now Live on Sepolia!
We are thrilled to inform you that the Shutterized Optimism testnet L2 is now live on Sepolia.
This launch marks the availability of a Shutterized encrypted mempool for the OP Stack.
How easy is it to encrypt your transactions using Shutter?
Turns out it's pretty easy.
Try for yourself on SHOP the Shutterized OP Stack testnet L2, which is now live on Sepolia ๐ฅ
Shutterized OP Stack Testnet SHOP Now Live on Sepolia!
We are thrilled to inform you that the Shutterized Optimism testnet L2 is now live on Sepolia.
This launch marks the availability of a Shutterized encrypted mempool for the OP Stack.
๐ฆ๐ข Attention
@gnosischain
Users ๐ข๐ฆ
We are surveying Gnosis Chain users to understand their perceptions and experiences of malicious MEV attacks.
Complete the survey by July 2, 2024 to be eligible to win up to 500 USDC.
Get started now!
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Weโre launching a movement to fight manipulation in crypto โ Defenders of the Crypto Realm!
Malicious MEV can be prevented and censorship resistance enhanced. But we need your voice. Are you with us?
Reply to this post. Tag others to join the fight: friends, rollups & dApps.
Transaction Ordering in Automated Market Makers: A Critical Examination of Impact and Strategies
Transaction ordering isn't a mere technicality but a crucial aspect of the
#DeFi
market, impacting the system's fairness, predictability, and trustworthiness
Weโre diving into encrypted mempool designs and how to combat malicious MEV with
@project_shutter
.
Weโll also discuss two potential designs related specifically to our collaboration.
Join us on March 5, 14:30 UTC on Spaces.
Set your reminders here ๐
In crypto, sometimes you need to sprint, sometimes it's a marathon.
@gnosischain
has been steadily gaining more and more applications and constantly proving that it's a sustainable market infrastructure.
4 few key factors why:
New blog post exploring the economic model behind Shutter! This post is structured to separately discuss overall economics/value capture, core revenue model and revenue streams, tokenomics and token distribution.
Encrypting the mempool is necessary to be able to safely reveal information to the chain.
It's also just common sense - why would you want anyone to see your transaction (and exploit that knowledge) before its inclusion and order is confirmed?
Shutter Roadmap 2024 (And Beyond)
Our vision for Shutter goes beyond the current state of technology.
In this blog post, we'll outline our upcoming plans, ideas, exciting developments, and collaborations for 2024 and beyond.
A censoring builder at 40% market share๐จ
Right now, we're essentially relying on a single builder with 26% market share (Titan builder) to include OFAC sanctioned content.
Inclusion Lists may help: let's face this problem and ship them in Electra.
Congratulations to
@gnosischain
for reaching 200,000 Validators!
A great testament to the community's commitment in building a decentralized future
One of the validators? Check if you're one of the 2370 eligible to claim SHU from the genesis allocations
Gnosis Chain just hit the 200,000 validators milestone!
โ Geographic Diversity
โ Client Diversity
โ Credibly Neutral
Let's have a look at the details togetherโญฃ
1/3 A community member just launched a Shutter Community Program!
It's an educational adventure designed to introduce participants to topics related to Shutter, MEV, frontrunning, censorship resistance, mempool encryption, and more.
Cartesi x Shutter: MEV in generalized computing applications
A post exploring how MEV could extend to computing applications and gaming on platforms like Ethereum L2
For example, it can impact resource allocation, data access, and operational efficiency
Hey Shutter DAO 0x36 members, a new proposal has been posted at the Shutter Forum!
Check it out, and feel free to provide feedback to the author on their proposal.
Proposal to Deploy a SHU/USDC DEX Pool on a Low Cost Chain (Part 1)
๐ฆJoin us for the Gnosis Chain Dencun Hard Fork Live Stream .oO
/w
@gnosischain
core team members, client teams and very special guests.
Gnosis Chain Mainnet will hard fork on 11 March 2024 at 18:30:20 UTC, Slot: 14237696 Timestamp: 1710181820
The most important feature of the
Weโre diving into encrypted mempool designs and how to combat malicious MEV with
@project_shutter
.
Weโll also discuss two potential designs related specifically to our collaboration.
Join us on March 5, 14:30 UTC on Spaces.
Set your reminders here ๐
Excited to share that Shutter integration is now available on
@conduitxyz
!
Rollups using Conduit can now start integrating an encrypted mempool using threshold encryption for malicious MEV protection and real-time censorship resistance.
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The 0x36 members have voted to approve a grant to accelerate SHU Staking for Shutter DAO 0x36!
The objective is to motivate Keypers, provide assistance to SHU token holders, and mitigate selling pressure. The target is to conclude the staking mechanism by May 10th. The
We are thrilled to announce the Shutter protoDAO to the public!
Read more in this post where we discuss its unique features, how it sets itself apart from fully-fledged public DAOs, its primary functions, and how the protoDAO was established.
#NotADAO
Shutter DAO 0x36 has an active Request For Proposals looking for qualified developers to contribute their proposals.
0x36 will disburse up to 50,000 $SHU and 25,000 $USDC to the selected contributor to develop the incentive and staking mechanism.
You thought rollups couldn't get any sweeter? Here's Shutter rolling in with malicious MEV protection for L2 on
#Ethereum
!
We're announcing Rolling Shutter to bring MEV protection to rollups.
@snoopy_mev
It's almost as if private mempool and FCFS doesn't really work and that a better solution would be encrypted mempool/random ordering + auction mechanisms
You can now buy & sell $SHU on Gnosis Chain!
Enjoy an amazing trading experience on the SHU / USDC.e pool on
@Swapr_dapp
v3 on
@gnosischain
:
Get protected against sandwich attacks with
#ShieldedTrading
Enjoy low fees on Gnosis Chain
Check it out:
Exciting update from the Shutter community!
The second tier of the Shutter onboarding program is live. This tier is designed to seamlessly integrate new members into the ecosystem and offer an in-depth exploration of Shutter and MEV topics. Join the community onboarding program
Today marks a significant chapter in the progress of our grant by
@optimismFND
. We are proud to announce the completion of all deliverables and milestones in our project to research and evaluate an encrypted mempool for the OP Stack!
Read all about it in our blog post:
Meta ๐งต on the MEV attack from today.
TL;DR: a bug in mev-boost lead to ~$25M extracted in MEV, primarily from sandwich bots.
The bug allowed the proposer to see transactions without having signed a block that the network would accept.
This is still developing, we'll add more!
Shutter DAO 0x36 has officially kicked off the development of a Keyper incentive mechanism and (delegated) staking for Shutter!
After a governance process, 0x36 members have elected to introduce staking for its members.
Looking to learn about MEV?
This beginner's explainer series aims to demystify the "dark forest" of Maximal Extractable Value and refresh your understanding of the problem at hand. Let's go!
What The Heck is Maximal Extractable Value (
#MEV
)? - Part 1
Echoing this, crypto can go far beyond what even the SEC aims for, making markets truly fair, orderly and efficient.
Encrypted mempools are a prime example of this:
Front-running, censorship and market information asymmetries exist in tradfi and create issues, disorderly
What is more "fair, orderly and efficient" than markets enabled by DEXs?
Anyone can trade and market-make based on the same, hard-coded, predictable rules, with trades recorded in a transparent, immutable ledger.
How is fighting a better, more fair and transparent, financial
Join us today together with
@EspressoSys
as we discuss the collaboration with them regarding encrypted mempool designs and how to combat malicious MEV.
Today at 14:30 UTC, set your reminders now!
๐ก๏ธโ๏ธ We're Excited to Unveil Our New Branding!
1/9 The Shutter Network has evolved โ with a bigger ambition to make crypto safe and accessible for all!
This brand refresh is our launchpad to:
- A larger audience
- Increased awareness of crypto threats
- More amazing collabs
Shutter DAO 0x36 is launching a Liquidity Bootstrapping Pool (LBP) on
@FjordFoundry
starting Wednesday, Feb 21st, 2024. This move aims to facilitate price discovery and market health for the SHU token.
This step is a crucial milestone in the journey of 0x36 towards complete
With the Shutter Network community growing rapidly, we will be providing monthly updates as to what has been happening and is currently active within the Shutter ecosystem.
Here is a recap of the events from March 2024.
Shutter x
@SnapshotLabs
collaboration coming full circle in this first Snapshot vote of Shutter DAO 0x36:
Shutter DAO 0x36 of course uses shutterized, encrypted voting for maximum shielding and information symmetry.
Claim tokens of your Shutter DAO 0x36 Genesis Allocations!
The genesis allocation is a targeted, small allocation specifically for early community members and users of Shutter protocols & solutions.
Attention Shutter DAO 0x36 members: a new proposal on
@fractalappxyz
is live!
Proposal to Pay Previously Approved Grants
If you are a SHU holder or delegate, please review and vote on the proposal.
Voting will be open until 8 March 2024 at 10:45 CET.
Hey, $GNO holder!
Should the
@GnosisDAO
enhance awareness and adoption of the Shutterized
@gnosischain
by providing a grant for marketing activities?
Make your voice heard by voting at
@SnapshotLabs
. You have until 11:33 AM CEST on July 3, 2024!
There are reasons why some L2s prefer centralized sequencers: lower latency, complexity, costs, less sequencers to share revenue with.
With an encrypted mempool, some of the downsides of centralization can be mitigated and better censorship and MEV properties achieved.
Shutter DAO 0x36 is launching a Liquidity Bootstrapping Pool (LBP) on
@FjordFoundry
starting Wednesday, Feb 21st, 2024. This move aims to facilitate price discovery and market health for the SHU token.
This step is a crucial milestone in the journey of 0x36 towards complete
Via mempool encryption, sequencers, validators and other transaction ordering entities can protect themselves or at the very least arm themselves with a strong plausible deniability (analogous to Signal/Whatsapp e2e encryption) argument against regulatory threats like this
MEV is treated as clear example of illegal market abuse by EU draft standards specifying MiCA rules.
ESMA (the EU Securities & Markets Authority) has recently published its third consultation package outlining its proposed technical standards detailing how to implement some of
Shutter DAO 0x36 members, please take a few minutes to cast your votes on the two live proposals on
@SnapshotLabs
.
Voting ends in a few hours for one of the two proposals, today at approximately 15.00 CET.
Every vote counts!
We had the amazing opportunity to be organizing MEV-Day together with Flashbots and
@MEVprotection
, with the help of the
@EFDevconnect
, during the
#Devconnect
week in Amsterdam this year.
Thanks to everyone who attended and made the event happen!
As the Shutter Network community continues to grow, we give you monthly updates, keeping you informed about the latest developments within the Shutter ecosystem.
In this edition, we present a recap of the events and highlights from April 2024.
Yoo our friends
@gnosispay
gave us 3 free early access Gnosis Pay NFTs to give away to our community, which let you claim the first truly non-custodial crypto debit card! ๐ณ๐ฆ
We're not making it easy though, you'll have to solve crypto related riddles to win these! Stay tuned!
We are excited to unveil the Shutter Network Genesis Launch Program, a key initiative to honor and support the vibrant community behind Shutter.
Our focus extends beyond tech development to embrace community, educational content and innovative solutions.
Join us this Thursday, April 25th, at 19:00 CET as we discuss shielded voting with
@OctantApp
.
It has already provided benefits like information symmetry and protection against vote manipulation to over 2,330 proposals and 216,805 votes on
@SnapshotLabs
.
If you're interested in either MEV, sequencing or policymaking (or even where those two overlap), be sure to register for this awesome seminar discussing some of the latest developments in MICA as it relates to MEV coming up this Friday!
@zin_esq
EU law discussions are coming in Crypto Law Seminar
#3
(31 May) on market abuse under EU MiCA, based on a paper I co-authored with Andre Gomes.
@ImpermanentGain
will be the commentator
Did you notice that shielded voting, the privacy voting system by Shutter is live on
@SnapshotLabs
?
In shielded voting the votes are private and revealed when the proposal closes. This prevents the voting process itself from influencing the vote results.
If your address was included in the Shutter DAO 0x36 $SHU genesis allocation list, don't forget to
Claim your tokens!
Activate your vesting!
Delegate your tokens for voting!
Update: A Shutter DAO has been deployed following our blueprint! Discover more in our blog post.
Meet Shutter DAO 0x36, a live instantiation of our proposed Shutter DAO model
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If you're a Shutter DAO 0x36 member with SHU voting power, there are 3 active proposals live on
@fractalappxyz
right now.
Remember to voice your opinion and vote!