Encrypt the mempool. In the future, everyone will be protected against malicious MEV & real-time censorship—by default. That's what Shutter is building toward.
Encrypted mempool
Joined March 2021
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Shutter 🛡️⚔️ retweeted
"We launched our vaults last year. (...) We've had two partners that have used our vaults, and have seen success with them. @ShutterNetwork is one of them, and they're an incredible team. They've been advocating for encrypting the mempool. (...) The other is @gitcoin, which is a name many are familiar with." 💬
@arlery
The Shutter Impact 0x36 Round 1 vote concluded a few days ago with 8 votes and 31.4M SHU cast
Unfortunately, no applicants received the required support to advance. Projects needed at least 50% of the participating SHU voting power to vote “YES” to qualify for funding
We’d like to thank all of the applicants for the submissions, especially those that participated in Pitch Day as well as to delegates that have voted
The program will now move ahead with Round 2, focused on Retroactive grants, to which we’ll share guidelines early next week
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This is an early draft and we’d love your feedback on Ethereum Magicians
ethereum-magicians.org/t/eip…
Also join Encrypt the Mempool Tech Working Group meeting tomorrow to discuss - Wed, 11 Nov, 15:00 UTC
github.com/ethereum/pm/issue…
🧵 8/8
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Who makes the priority list
A key publisher joins the priority list once validators holding more than half of all staked ETH have voted for it
If a key publisher on the priority list holds back keys, everyone can see it, and validators can vote it off
🧵 7/8
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Anyone can create a voting list of key publishers
Each validator picks one voting list, and that counts as a vote for every key publisher on it
This lets validators rely on someone they trust instead of checking every key publisher themselves
🧵 6/8
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A key publisher that isn’t on the priority list can’t use that waiting trick to get ahead of transactions with trusted key publishers, because those transactions are already placed first
No key publisher is shut out, their transactions still get in
🧵 5/8
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The new EIP lets validators choose key publishers they trust and put them on a priority list
Transactions whose key publisher is on the priority list go first in the block
Transactions with any other key publisher go after them
🧵 4/8
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The optionality problem
One key concern is that a key publisher could hold back a key until they see how later transactions play out
They could then release it only when it benefits them, opening the door to front running
🧵 3/8
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What is LUCID?
LUCID is an earlier EIP that aims to keep transactions encrypted until their spot in the block is final, protecting users from toxic MEV and real-time censorship
To decrypt a transaction, someone has to release its key - LUCID calls them the key publisher
🧵 2/8
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A new draft EIP is out for Ethereum’s encrypted mempool, and we’re looking for feedback
It builds on the LUCID EIP and tackles the optionality problem, one of the big open problems in the design
Here’s how it works
🧵1/8
1 day left to cast your vote!
🗳 Voting has started for the Shutter DAO 0x36 Impact Pilot Program!
16 projects are seeking funding for initiatives that benefit the Shutter ecosystem, with $7,000 available in grants
How to vote (Approval Voting):
- Vote YES on EVERY project you think deserves funding
- Take NO ACTION on projects you don't think should be funded
- Projects need at least 50% approval based on SHU voting power to qualify
What happens next?
- If approved projects request less than $7,000 combined, all are funded
- If requests exceed $7,000, Phase 2 (Weighted Voting) will rank approved projects. Delegates can distribute their voting power across projects, and funding will be allocated in ranking order until the $7,000 budget is reached
👇
Cast your votes 👇 snapshot.box/#/org/shutterda…
More info about the 16 projects:
shutter-impact-pilot.vercel.…
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🗳 Voting has started for the Shutter DAO 0x36 Impact Pilot Program!
16 projects are seeking funding for initiatives that benefit the Shutter ecosystem, with $7,000 available in grants
How to vote (Approval Voting):
- Vote YES on EVERY project you think deserves funding
- Take NO ACTION on projects you don't think should be funded
- Projects need at least 50% approval based on SHU voting power to qualify
What happens next?
- If approved projects request less than $7,000 combined, all are funded
- If requests exceed $7,000, Phase 2 (Weighted Voting) will rank approved projects. Delegates can distribute their voting power across projects, and funding will be allocated in ranking order until the $7,000 budget is reached
👇
Shutter 🛡️⚔️ retweeted
We shared an update on the mechanics of the Shutter DAO 0x36 Impact Pilot vote.
The first vote will be an approval vote on @SnapshotLabs followed by a weighted vote (but only if needed).
Read the details on the forum:
shutternetwork.discourse.gro…?
@ShutterNetwork @SEEDGov
Come out to the next working group meeting and help support an encrypted mempool on Ethereum!
Encrypt the Mempool 🛠 Biz/Marcoms WG meeting is tomorrow
Wed, Nov 4, 15:00 UTC
See the agenda & add to your calendar to join github.com/shutter-network/e…
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Shutter 🛡️⚔️ retweeted
Encrypt the Mempool 🛠 Biz/Marcoms WG meeting is tomorrow
Wed, Nov 4, 15:00 UTC
See the agenda & add to your calendar to join github.com/shutter-network/e…
Shutter 🛡️⚔️ retweeted
Great pitch session just now!
Watch the applicant pitches below 👇
And access all proposals in the tracker here shutter-impact-pilot.vercel.…
Shutter DAO 0x36 Impact Pilot Pitch Day! 🎤 xitter.twitterapi.xyz/i/broadcasts/1nxeLMNba…
Great pitch session just now!
Watch the applicant pitches below 👇
And access all proposals in the tracker here shutter-impact-pilot.vercel.…
Shutter DAO 0x36 Impact Pilot Pitch Day! 🎤 xitter.twitterapi.xyz/i/broadcasts/1nxeLMNba…