In the last few weeks, we have had to postpone a bit the last two What’s Up Wednesdays. This is not because we don’t have any updates. It’s mainly because our team is pretty overloaded from the pushes and initiatives we’re trying to get out before the end of the year. One of them was the Trusted Setup contribution phase. So for those of you who are participating in the trust configuration, you may have noticed that there are two parts:
This one started quite some time ago and through the registration process, we got over 13,000 registrations from 177 countries. To put it in context, there are about 190 countries in total around the world, so we’re talking about 90% representation of all the countries that are participating in our trusted ceremony. So, not only are we getting one of the largest trust configurations in the world, but we also have a very diverse amount of participants from all over. This shows that Web3 has no borders and that privacy concerns are global. This has been amazing on the registration side…!
Now that we are in the contribution phase, we are seeing that the activity and amount of interest are overwhelming and it has us very proud! This amount of popularity is both a blessing, in terms of the amount of work we’ve done and the amount of appreciation we’ve been getting from the community, as well as a curse because the way the trust setup is set up, you have to do the contribution sequentially; each person has to do the trusted set up before the next person can start, and this is why there is a long queue in our waiting line.
Right now we estimate that it takes about 5 minutes to complete your part and then the next person goes and so on… Now, due to the large influx of participants and the time limits of the ceremony, and the fact that everybody has to go one by one, currently, our waiting list is about 2555 participants and 537 of them have already completed their contributions. In total, we are estimating at this time, about 3000 contributions waiting, with about 11.6 contributions per hour. Based on our current queue of people, we would have completed the trusted set-up contributions by next December 9, around 2:00 PM Eastern time. This means that by next Friday, at our current rate, we should have completed our trust setup.
That said, there is a great deal of interest in what we are building, and the numbers in the queue show it as they continue to climb; on the first day there were about 500 people in the queue, and on the second day there were about 1000 people in the queue. This morning, there were about 2500 people in the queue, so it could extend beyond December 9th. Right now, we have December 12 scheduled as a tentative deadline for the end of the trusted setup but depending on how many people join the queue, we could extend it. We hope that, by December 12, everyone who wants to contribute will have made it.
In addition, we have created a little dashboard for everyone to take a look at http://wentrust.io/ where it shows exactly how many people have contributed, how many people are in the queue, what the average time it takes to contribute is, and the estimated deadline based on everyone’s contributions to the queue so everyone can collectively keep track as a community.
What’s next after the trust setup?
We want to bestow 2 things as a token of appreciation from the Manta team, to each of you who are contributing to the trusted setup.
1st. The special role of Discord, specifically for the people who are on our channel. We want to highlight your contribution and allow you to stand out a little more for your contributions to the community.
2nd. An exclusive NFT. We are preparing a unique NFT drop, as a thank you and distinction for the participants in the trusted setup ceremony.
We will be awarding Discord roles and NFTs to contributors, provided they have filled out all their information on their registration page accurately, including their KMA address and Discord ID, once the trusted setup is completed. It will not be immediate, but we will keep you updated on their latest status.
What are we going to do for the rest of the year?
After the trusted setup, there will be the fast launch of Manta Pay on Calamari Network and, following that, we will focus headlong on our delegated proof of staking protocol (DPoS). It is a priority for us to expand our Collators network and to count on their full support. We want to focus on increasing the number of collators so that we can have high availability and decentralization when Manta Pay is finally fully launched. This will be a big part of our focus until the end of the year. Let’s stay tuned for announcements that will follow for the entire community.
We also talked about important integration advances we are making with other Parachain projects, starting with Moonbeam; The premise is that, in addition to having an XCM bridge with Moonbeam and other projects, with an elementary user experience for just transferring some assets, we are also developing alternatives for whoever wants to do more complicated things like smart contract interactions, which involves a deeper level of integration.
We’re using what’s called the XCM remote transaction, which allows a user or an application, or a wallet address on Moonbeam, to mint private tokens on the Manta network and transacts those private tokens with one another. This unlocks a lot of new use cases… We’ve been working hard on this and we’re setting up a hackathon with ZK validator to get more development around privacy use cases with moonbeam smart contracts. You can find out more details about it in this conversation we had today with moonbeam and ZK Validator, here.
These are some of the updates we bring for you this week. We will continue to bring more developments to the community very soon! If you have any questions specifically related to trusted setup and have some issues you run into, feel free to use the discord channel to ask your queries.
May Privacy be with you!