Shutter Network Community Update - May & June 2024
We will provide regular updates to keep the community informed about the latest developments and ongoing activities within the Shutter ecosystem.
These updates will serve as your guide to everything happening within our network. They will showcase key milestones, innovative proposals, and community achievements.
In this edition, we are excited to present a detailed summary of the events and highlights from May and June of 2024, ensuring you are well informed and up-to-date.
Blog
Latest blog posts from May and June.
Shutter Network at EthCC[7]
Get ready for a fantastic time at EthCC[7] and the EthCC Week! So many exciting events and activities are happening, and we can't wait to be a part of it all.
Check out the list below to see where we'll be - we look forward to connecting with you!
Shutter Network
Shutterized Gnosis Chain Debuts in July!
We're excited to announce that the Shutter protocol will soon be available on Gnosis Chain mainnet, enhancing blockchain security and fairness. This integration will revolutionize transaction security and advance decentralized finance (DeFi).
The Shutterized Gnosis Chain will go live on Thursday, the 11th of July, 2024!
Shutter Network
Staking and Keyper Incentive Mechanism Coming Soon for Shutter DAO 0x36
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. Several Shutter community members are collaborating to create an initial version of delegated staking for the SHU token holders.
The initial version of Shutter DAO's 0x36 staking mechanism centers on a simple concept, focusing on staking for Keyper incentives and delegated staking for SHU token holders. "Staking V1," as it could be called, incentivizes Keypers and delegates via Shutter DAO 0x36's SHU token rewards. Two separate tracks are moving forward simultaneously. Both a technical implementation track and an economic track are currently underway.
Shutter Network
Beyond MEV Protection: 6 Uses Cases for Shutter's Commit-Reveal Technology
The Shutter commit-reveal mechanism was initially designed to prevent malicious MEV and censorship issues, which remains the primary focus. However, beyond these applications, it also has wide-ranging applications in fields that require secure and fair information handling and combating information asymmetries. Its unique properties and decentralized structure make it suitable for governance, blind auctions, gaming, and transaction scheduling.
By promoting information symmetry and enhancing base layer neutrality, Shutter can bring significant benefits to Layer 1 and Layer 2 ecosystems. As a developer, you can also utilize Shutter's technology for innovative projects and receive support through grants from Shutter DAO 0x36.
Shutter Network
The First Shutterized Testnet Is Now Live on Chiado!
We are excited to announce that the Shutterized Chiado testnet is now live! This is a significant milestone as it represents the first live implementation of the Shutter protocol on a full testnet. This integration is a substantial step forward in enhancing the Gnosis Chain ecosystem through transaction encryption as we progress towards the Shutterized Gnosis Chain.
Shutter Network
Shutter Network Community Update - April 2024
Shutter Network
Community
Community related updates from May and June 2024.
Exciting news: we’re reeeally honored to share that blockful has been selected as Shutter DAO 0x36 service provider following the recent community vote.
Exciting news: we’re reeeally honored to share that blockful has been selected as Shutter DAO 0x36 service provider following the recent community vote.
— blockful.io (@blockful_io) June 27, 2024
We're ready to get to work.
👇🧵 Follow the thread: pic.twitter.com/razGG8JZ83
At our latest Gnosis Validator Meetup, we discussed recent developments on the Gnosis Chain, including @ObolNetwork’s DV Cluster implementation on the Gnosis Chain mainnet and @ShutterNetwork’s release!
If you missed it, the recording is here!
At our latest Gnosis Validator Meetup, we discussed recent developments on the Gnosis Chain, including @ObolNetwork’s DV Cluster implementation on the Gnosis Chain mainnet and @ShutterNetwork’s release!
— Gnosis Chain 🦉 (@gnosischain) June 27, 2024
If you missed it, the recording is here!https://t.co/33y2MsCnGa
Olas Currents is back on 27/06 @ 16:00 UTC
Join @bezzenberger from @ShutterNetwork, Valory CEO @david_enim, and Head of BD @rpahlmeyer as they get into the technical details behind Shutter's unique use case for Olas' autonomous agents.
Olas Currents is back on 27/06 @ 16:00 UTC 🏄🏻♂️
— Valory is hiring (@valoryag) June 26, 2024
Join @bezzenberger from @ShutterNetwork, Valory CEO @david_enim, and Head of BD @rpahlmeyer as they get into the technical details behind Shutter's unique use case for Olas' autonomous agents.
Set a reminder: https://t.co/AxZLwMpvDf pic.twitter.com/j4Fzxg2ozj
Finding the Balance: Effective Transaction Ordering Strategies in DeFi
During our recent simulation exercise, we explored different transaction ordering strategies in Automated Market Makers (AMMs) to identify the approach that best balances user fairness and system efficiency. Our results indicate that the most effective strategy is to randomly order transactions and then conduct arbitrage after each block. This approach minimizes user losses while enabling sequencer profit and is feasible to implement given economic and incentive structures.
This article summarizes the results of the simulation exercise, highlighting the benefits of the preferred transaction ordering strategy and addressing the limitations of other methods.
— Shutter 🛡️⚔️ (@ShutterNetwork) June 26, 2024
Gnosis Chain Weekly · 25 June 2024
Gnosis Chain Team
Attention Builders: think you can you combine Olas AI agents with @ShutterNetwork's technology? You could earn shared rewards up to 50k $USDC, 500k $SHU, plus Olas dev rewards.
They're already accepting proposals from ambitious developers, so get going!
luis
Gnosis Chain Weekly · 19 June 2024
Gnosis Chain TeamShutter Community Call
Join us for another Shutter Community Call, here on X, Thursday, 20th of June at 2 PM CEST!
Join us for another Shutter Community Call, here on X, Thursday, 20th of June at 2 PM CEST!
— Shutter 🛡️⚔️ (@ShutterNetwork) June 17, 2024
Set your reminders now!https://t.co/vB0ZntlHAr
GIP-104: Should the GnosisDAO Enhance Awareness and Adoption of the Shutterized Gnosis Chain by Providng a Grant for Marketing Activities?
GnosisDAO Phase-2 Proposal By @ShutterNetwork
GIP-104: Should the GnosisDAO Enhance Awareness and Adoption of the Shutterized Gnosis Chain by Providng a Grant for Marketing Activities?
— GnosisDAO (@GnosisDAO) June 19, 2024
GnosisDAO Phase-2 Proposal By @ShutterNetwork
👇https://t.co/SC4Xa8wj0M
The @gnosischain Berlin Meetup will take place at the iconic @fullnode_berlin on June 20
Master MEV Protection: Learn from the Shutter team's experts about cutting-edge techniques to protect against malicious MEV
The Gnosis Berlin Meetup will take place at @fullnode_berlin on June 20 and we want to share the speakers with you!
Jannik Luhn from @ShutterNetwork is a developer at brainbot, currently focused on the distributed key generation component in Shutterized Gnosis Chain.
@LoringHarkness from @ShutterNetwork is a commercial jack all trades, currently focusing on spreading awareness and adoption of Shutterized Gnosis Chain.
@GhanVashishtha and @bezzenberger dive into "Understanding the Role of Rollups in Tackling MEV" during a recent talk show.
— Shutter 🛡️⚔️ (@ShutterNetwork) June 12, 2024
Shutterized, encrypted transactions with Swapr on Chiado
Experience the power of Shutterized, secure, encrypted transactions with @Swapr_dapp on Gnosis Chiado testnet in just 2 minutes! Give it a try now!It takes just a few simple steps
— Shutter 🛡️⚔️ (@ShutterNetwork) June 11, 2024
Gnosis Chain Weekly · 07 June 2024
Gnosis Chain TeamThe debate over whether @ESMAComms MiCA will classify MEV as market abuse raises concerns.
Discussion by @bezzenberger, @XavierLava, @0xMikolaj & @JakeSenftinger on the need for solutions to protect users from MEV instead of solely relying on regulations
The debate over whether @ESMAComms MiCA will classify MEV as market abuse raises concerns.
— Shutter 🛡️⚔️ (@ShutterNetwork) June 6, 2024
Discussion by @bezzenberger, @XavierLava, @0xMikolaj & @JakeSenftinger on the need for solutions to protect users from MEV instead of solely relying on regulationshttps://t.co/OxumEtaEcO pic.twitter.com/dSv1YZihRy
Hey Shutter DAO 0x36 members, remember to delegate your tokens so you can participate in the governance!
There should be some live votes coming soon based on Forum activity!
You should delegate to yourself or someone else, like the nominated delegates.
Hey Shutter DAO 0x36 members, remember to delegate your tokens so you can participate in the governance!
— Shutter 🛡️⚔️ (@ShutterNetwork) June 5, 2024
There should be some live votes coming soon based on Forum activity!
You should delegate to yourself or someone else, like the nominated delegates.https://t.co/JTIhBoMysY
Gnosis Validator Recap May '24
GC Comms Team
Shutter Community Call
We're starting a series of casual community calls. They'll take place every 2 weeks, and we'd love for you to join.
It's a chance to chat about where Shutter is heading and how we can all contribute.
No formalities, just a space to talk and share ideas.
We're starting a series of casual community calls. They'll take place every 2 weeks, and we'd love for you to join.
— Shutter 🛡️⚔️ (@ShutterNetwork) May 31, 2024
It's a chance to chat about where Shutter is heading and how we can all contribute.
No formalities, just a space to talk and share ideas.https://t.co/4tKk3znACT
We’re launching a movement to fight manipulation in crypto — 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.
We’re launching a movement to fight manipulation in crypto — Defenders of the Crypto Realm!
— Shutter 🛡️⚔️ (@ShutterNetwork) May 29, 2024
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. pic.twitter.com/m5fB2r26Ui
Every great project needs a champion! Meet '@SirShieldswell,' Shutter's crypto defender, fighting against crypto manipulation and sandwich attacks.
Every great project needs a champion! Meet '@SirShieldswell,' Shutter's crypto defender, fighting against crypto manipulation and sandwich attacks. He's heading to @dappcon_berlin today! Meet him there and snap a selfie. pic.twitter.com/uCtIERAEK5
— Shutter 🛡️⚔️ (@ShutterNetwork) May 21, 2024
Responding to Vitalik: Part 1: The Role of Encrypted Mempools in Censorship Resistance
In recent discussions about the future of Ethereum on X/Twitter, prominent figures like Péter Szilágyi and Vitalik Buterin have raised concerns regarding the protocol's direction, particularly focusing on the issues of MEV and network decentralization. Péter voiced concerns over the risks of increasing centralization and the potential negative impact of evolving hardware and transaction processing requirements. Meanwhile, Vitalik, in his latest blog post, discusses various strategies to address MEV, including the implementation of inclusion lists and the potential of encrypted mempools.
In this two-part series, we will first provide a better understanding of encrypted mempools and address their perceived downsides. Next week, we will explore how inclusion lists and encrypted mempools can work together to create a healthier transaction ecosystem.
— Shutter 🛡️⚔️ (@ShutterNetwork) May 24, 2024
Responding to Vitalik: Part 2: Inclusion Lists & Encrypted Mempools are More Powerful Together
Welcome back to our two-part series addressing recent discussions about the future of Ethereum on X/Twitter by prominent figures like Vitalik Buterin (@VitalikButerin), Peter Péter Szilágyi (@peter_szilagyi), and Dankrad Feist (@dankrad). They have raised concerns regarding the protocol's direction, particularly focusing on the issues of Maximal Extractable Value (MEV) and network decentralization.
In Part 1, we discussed the vital role of encrypted mempools in bolstering censorship resistance and mitigating malicious MEV activities.
For Part 2, we will now dive into how inclusion lists and encrypted mempools, enabled by Shutter, can synergistically create a healthier transaction environment. We will outline the strengths and limitations of each approach, demonstrating how they complement each other.
— Shutter 🛡️⚔️ (@ShutterNetwork) May 31, 2024
Today, @AnotherJannik will host a workshop "Implementing The Shutterized Gnosis Chain," at @dappcon_berlin. The workshop will be at 14:00 CET in Studio B, Execution Layer
If you are at the event, join the workshop or check out the livestream on YouTube!
Today, @AnotherJannik will host a workshop "Implementing The Shutterized Gnosis Chain," at @dappcon_berlin. The workshop will be at 14:00 CET in Studio B, Execution Layer
— Shutter 🛡️⚔️ (@ShutterNetwork) May 23, 2024
If you are at the event, join the workshop or check out the livestream on YouTube!https://t.co/ghaj76YRfE
Shutter Responds to DOJ Charges "Crypto at Risk: $25M Exploit Shows a Level Playing Field is Needed"
The recent U.S. Department of Justice (DOJ) indictment of two brothers involved in a $25 million MEV (Maximal Extractable Value) attack has ignited a significant debate within the cryptocurrency community. Some argue that the brothers were merely stealing from unethical MEV bots. Shutter, an open-source project dedicated to shielding cryptocurrency traders from manipulation, asserts that stealing from thieves is still stealing. Shutter calls on the crypto community to uphold ethical standards and take immediate action to address MEV through encryption and fair trading protocols.
— Shutter 🛡️⚔️ (@ShutterNetwork) May 16, 2024
ELI5 for @project_shutter -
We often describe Shutter as a commit-and-reveal gadget for base layer neutrality, information symmetry and accessibility. But what does that actually mean?
I'll explain in simple terms - using Rock Paper Scissors as an example
ELI5 for @project_shutter -
— Loring Harkness 🛡️⚔️ (@LoringHarkness) May 13, 2024
We often describe Shutter as a commit-and-reveal gadget for base layer neutrality, information symmetry and accessibility. But what does that actually mean?
I'll explain in simple terms - using Rock Paper Scissors as an example ...
🧵1/9 pic.twitter.com/YVpwi18CCv
Shielded Voting by Shutter on GitCoin
Shutter protocol uses threshold encryption to promote base layer neutrality and information symmetry. It has two main applications:
Rolling Shutter: Encrypts transactions to prevent malicious MEV such as front running and sandwich attacks on L1s and Ethereum L2s.
Shielded Voting: Encrypts all votes when cast to increase fairness and integrity of votes on Snapshot and other voting platforms.
— Shutter 🛡️⚔️ (@ShutterNetwork) May 3, 2024
Shutter DAO 0x36 Proposals and Discussions
A list of proposals and top discussions posted at the Shutter Forum for the Shutter DAO 0x36 members to review and discuss.
5pencesebastian.faustjul1anNickiBaer_DAOplomatsethmilan
luis5penceCornelis0xAlexShutter DAO 0x36 Votes
A list of the Shutter DAO 0x36 votes that took place during May and June of 2024.
Create an RFP for a Dev House on Retainer
"Temp check" Represent ShutterDAO 0x36 @ BerlinBlockChainWeek
#16 ShutterDAO 0x36 @ BerlinBlockchainWeek
#17 Provide a grant to expand marketing activities
Provide a grant to brainbot gmbh to expand marketing activities
"Temp Check" Treasury Management Temporary Solution: Deposit 3M DAI in the DSR Contract
Selection of Contributor for Developing the Keyper Incentive Mechanism and (delegated) Staking
"Temp Check" - Deploy a SHU/USDC Pool in Swapr V3 on Gnosis Chain
#18 Deposit 3M DAI in the DSR Contract
#19 Funding Proposal: Dappnode integration
“Temp Check” - Enable Shutter Token (SHU) listing and trading on a centralized exchange (CEX)
Proposal to Launch an RFP for Auditing the Technical Contribution in Developing Staking
Proposal: Economic Parameters to be Set by Shutter DAO0x36 for Staking
Select A Dev House on Retainer
#20 Fund Public Goods by Swapping 300K USDC to USDGLO
[TempCheck] SHU Snapshot Boost
#21 Creation of a SubDAO with On-chain Execution for Shutter DAO 0x36 Snapshot space using Kleros/reality.eth and Decent
RFP: OLAS x Shutter DAO 0x36 Collaboration on Gnosis Chain
Selection of an Auditor to audit the Keyper Staking and Delegated Staking Mechanism
More Coming Soon!
Come celebrate the launch of the Shutterized Gnosis Chain with us at EthCC, and we hope to see you there!
Start trading safely on Gnosis Chain on July 11! Experience the enhanced security and fairness of Shutterized transactions.
Follow us on X-Twitter, visit the Shutter Forum, and join our community on Discord to learn more about how Shutter works and stay updated on our progress.