5/ We are also open sourcing our smart contracts. These contracts, as well as our Venmo circuits and overall architecture, were audited by Trail of Bits.
https://t.co/xNjFo5RAPi
4/ We also built a backend for verifying emails and DKIM signatures on top of SSH, SHA and array parsing circuits built by circomlib, @0xPARC , Double Blind (https://t.co/biC1us9Jq2) and @theyisun. This backend can be found here:
https://t.co/ErlWC55UBY
Excited to announce that we'll be starting our trusted setup ceremony on Monday for our Venmo and CashApp circuits!
This marks a key milestone for Zephyr and is the last key step before our mainnet launch. Reach out to us if you're interested in contributing!
An underappreciated aspect of permissionless stablecoin onramps is their power to serve as economic equalizers.
For citizens in inflation-prone countries like Argentina, this tech democratizes access to dollars, eliminating the premium on physical currency.
When building Zephyr, we chose to prioritise a fast UX for on-rampers so went with a model where off-rampers act like LPs and escrow their funds and on-rampers submit proofs to unlock them. The orderbook ensures that 2 on-rampers don't attempt to unlock the same funds with only one of them receiving their crypto.
It would be interesting to flip this model. Venmo has a request feature so you could verify in a ZKP the email saying that a buyer sent a request. The LP would then have a dispute period where they can submit a ZKP showing that the buyer either canceled the request or the LP did in fact fulfil it in time. Each p2p payment method has a lot of quirks that can lead to interesting mechanism design.
Excited to kick off our audit with @trailofbits today! Once completed, we'll open-source both our code and documentation. Looking forward to community collaboration and insights!