What’s up Wednesday - Aug 10

This is the summary of this week’s community chat.

Macro events: :face_with_monocle:
What is happening recently, around privacy, is drawing the community’s attention.

What is happening with Tornado Cash? :tornado:
The U.S. Treasury Department’s OFAC has added Tornado Cash and all associated addresses to the sanctions list. As a result, all U.S. persons and entities are prohibited from interacting with Tornado Cash or any Ethereum wallet addresses tied to the protocol. Those who do may face criminal penalties. This has been a considerable shock to the Privacy space.

We can think that the sanctions against Tornado Cash are not towards privacy in Web3 and against users, but rather it is an effort to work on nullifying bad actors. This reminds us a lot of the history of Bitcoin:

A- Bitcoin started as a Punk movement and no one paid attention to it.
B- Then it gained relevance and they began to say that Bitcoin was used to buy drugs and finance terrorism.
C- They said that Bitcoin had to be banned but did not find ways to achieve it.
D- Now they are looking for ways to understand and integrate this technology with the day-to-day world in a regulated and safe way for users.

We are optimistic that once governments and regulators have a better understanding of privacy in Web3, they will start looking for meeting points to avoid bad actors without affecting the right to privacy of ordinary users, who are the majority.

As Manta Network we are perfectly prepared for these political and regulatory scenarios, and we have developed Manta from the beginning taking into account these possible cases, through self-compliance options. So the community should not be concerned about any negative impact on our mission due to this recent event.

Some of the work accomplished so far. :construction_worker_man:
During this time we have not been partying, nor traveling in a private jet with Champagne. We have been working immensely hard to achieve our goals as soon as possible. For example:

1. Github is super active. :radioactive:
Our CodeBase has grown tremendously non-stop! Our development team has been significantly fortified by all the events we have participated in to attract attention from very professional people who are now on our side to bring privacy to Web3. We are pushing code on a daily basis like no other project in our category. You can check it yourself on the Manta Github.

2. Solid Collator Program. :gear:
Very professional people with extensive experience are in charge of this in our team and have created a very robust system that has allowed optimal behavior of the network in a truly decentralized way that makes Calamari secure and permanent. We already have 30 Collators in more than 13 countries, which means that Privacy as a Service can stay alive and available to everyone even if we turn off the central collators.

3. Fastest Dolphin Testnet. :fast-forward: :dolphin:
The difference between V1 and V2 is vast and better. We have improved a lot in the last 6 months of work thanks to the great capacity and intelligence of our high-level cryptographer’s team and the help we have managed to get from several of the best cryptographers in the world. They have identified with our mission and have decided to Support us with ideas and more efficient ways to carry out a faster ZKP privatization of assets (This is also a consequence of the work of Marketing and Public Relations in all the events that we have participated).
From a 30-second ZKP process duration in V1 to less than 5 seconds in V2, this is a huge improvement! We are confident that we achieve the highest ZKP speed in the industry, and this is hard work!

4. XCM constant progress. :chains:
We have already achieved several integrations with Top projects like Moonriver, Karura, and others. We are finding new uses for our technology like the implementation of a private aUSD, can you imagine that?
We have also launched on Solabeam, offering MOVR-xcKMA farming for the community to reap the benefits of bringing liquidity to the platform. More alliances and integrations are on the way!

5. ZKPrize :trophy:
This challenge was created with Polkadot, Mina, and other top privacy projects in the industry and the goal was to eliminate the installation of the Manta Signer; “How do we achieve 2.5 seconds of ZKP privacy processing without the need to install Manta Signer?” We created this Challenge to work together and find an appropriate solution to provide you with a better UX. This challenge was a success!

Roadmap for the rest of Q3. :world_map:
We are focused on achieving these goals before the end of Q3.

- MantaPay in Calamari. :squid:
We are very close to the launch of the first product for the Calamari Network, a service that offers private payments between two parties. This will ignite the use of KMA and the proliferation of privacy in the ecosystem.

-Trusted Setup. :handshake:
The kind of ZKP Manta uses requires some infrastructure, which is why we need a trusted setup. This is how we generate the prover and verifier keys that are needed to create a transaction on the Manta/Calamari network. For this ceremony, we would like to have the greatest participation of the community. More details soon but if you want to know more about it, read this article

- On-Chain Staking for your KMAs. :link:
Going from a PoA-based network system to a PoS protocol is not an easy task. However, there will be some economic adjustments to the Network that will be announced so that this can be sustainable and healthy for Calamari. We heard your requests about it and we’ve been working hard on it to be able to bring it in this Q3!

After reaching these goals, we will announce the Roadmap for Q4. We can’t say much until mid-September but we are sure that you will be very satisfied and excited with what we are going to reveal, which will be a real game changer; New products, new horizons and a great restructuring of what will be Manta and Calamari for the entire privacy space.

Thank you for all the patience and understanding with the hard work that the team does. We are giving you a one-of-a-kind product and, despite market conditions, we have not stopped building new and better ways to bring you one of the things that will be most precious in Web3; Privacy… Secure, scalable, multi-asset, and auditable. But above all, censorship-resistant.

See you next week with more news and announcements!
“May the Privacy be with you”… :lock_with_ink_pen:

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Very important information! Thanks Janko for putting it together.

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