Weekly news from Kusama & Polkadot #57
1. Manta’s Trusted Setup ceremony is open for contributions
Manta Network is about to launch MantaPay on Calamari, the canary network of Manta. By using the Zero Knowledge Proof Trusted Setup, anyone can participate in the ceremony itself and help increase the security of the prover keys by contributing randomness and destroying toxic waste.
Since there were registered 13k participants, Manta is overwhelmed by the amount of interest shown in the Trusted Setup. For now, Manta paused new registrations, which will resume once the user experience is improved and mitigated against further potential attacks.
After the registrations will open again, there is a huge chance to break a world record for trusted setup contributions! For the Manta Trusted Setup participation, visit this link.
What is a Zero Knowledge Proof (ZKP) trusted setup ceremony? To generate a ZKP, the prover and the verifier need to commit some shared secret and use it to generate public parameters. A trusted setup then generates the prover and verifier keys that are computed and verified.
Zero Knowledge Proofs allow the prover to prove the correctness of a statement to someone else (the verifier) without disclosing any information. Zero Knowledge Proofs are the core of Manta Network’s privacy preservation functionality, which enables privacy for all crypto assets that are present in the Manta Network itself.
2. The Polkadot Alliance was formed by seven ecosystem teams
The Polkadot Alliance, running on the Collectives common-good parachain, was recently formed and announced by seven different ecosystems Fellows — Acala, Astar, Interlay, KILT Protocol, Moonbeam, Subscan, and Phala.
The Polkadot Alliance is an on-chain collective of teams that will exist on-chain. It's aiming to establish and uphold a community code of ethics, protecting the Polkadot brand, and recognizing the ecosystem contributors.
The Alliance will provide an on-chain mechanism to recognize teams who align with the open-source culture, to ensure the continued success of the Polkadot ecosystem.
Besides the Fellows, who carry out on-chain operations, Polkadot Alliance consists also of Allies, which don’t have voting rights until they become Fellows. But still, to be an Ally is a sign of ethical standards set by the Alliance.
The Polkadot Alliance has been in the works since 2020 when early ecosystem teams realized they needed to work together to safeguard the Polkadot brand, thwart code theft and fraud, and promote robust, sustainable contributions to the open-source ecosystem.
3. Web3 ID has launched on Product Hunt
Web3 ID by Dock has launched on ProductHunt. Thanks to the launch of Web3 ID, users of websites and Internet applications no longer have to use their e-mail and social network profiles to log in, which leads to a loss of privacy.
Here’s how Web3 ID works:
- A website gets a Sign-in with a Web3 ID button (OAuth 2.0 compliant)
- Each user has an ID Wallet in their phone containing their data, secure, and verified with cryptography
- Users scan a QR Code, decide what data they want to share with the website, and get instantly signed in.
Some initial Web3 ID use cases:
- age verification for Web3 gaming, gambling, and entertainment — proving of 18 years without disclosing their birth date or ID
- eligibility verification to enter Metaverse and IRL experiences based on personal data
- proof of token ownership without revealing a wallet’s address and its content
Product Hunt is a curation of the best new products, where you can discover the latest mobile apps, websites, and technology products that everyone’s talking.
4. Moonbeam’s GLMR token is available on Ledger Live
Moonbeam’s GLMR token is now available on Ledger Live. In addition to using a Ledger hardware wallet to sign transactions, GLMR holders can now manage their tokens using the Ledger Live App & from within the security of their Ledger device.
Before this implementation, users could only connect a Ledger wallet to sign transactions for added security but weren't able to manage GLMR tokens through the use of MetaMask or another wallet.
5. Phat Contract is open for Closed Beta testing
Phat Contract is open for Closed Beta testing. Developers with Rust language developer experience are welcome to participate. Phase one of Closed Beta is expected to start on December 12th followed by phase two, which will initiate several days later, opening up testing to all successful applicants.
Participants will receive a POAP NFT for their contribution to Phat Contract testing, and the most productive developers will win prizes in $PHA.
Phat Contract is Phala Network’s software development kit that enables developers to permissionless utilize Phala’s decentralized off-chain computational cloud. Phat Contract uses the Rust language and can interface with smart contracts on any chain to execute a wide variety of computing tasks, so it's the next step in replacing classical Web2, because you can write almost anything with it.
Besides that, Phala has some other news. There were opened new HRMP channels between Phala Network and Astar Network. So you are able to transfer your PHA tokens into the Astar Network and vice versa.
Phala App 2.0, Phala App’s most significant upgrade to date, is currently under alpha test and is about to launch very soon. Phala App 2.0 includes exciting changes and features, such as:
- Revamped UI
- Improved UX
- StakePool Upgrade to 2.0
- New model Vault
6. Bifrost Finance opened a new vGLMR/GLMR LP farm
After launching liquid staking of $vGLMR & $vMOVR tokens, which are liquid staking derivatives from Moonbeam and Moonriver parachains, Bifrost at first enabled farming of the vMOVR/MOVR LP.
One week after starting farming vMOVR/MOVR LP, Bifrost added also the possibility of farming the vGLMR/GLMR LP.
TVL is actually a 13,26% APY for liquid staking GLMR. The reward is added automatically to the value of your vGLMR tokens.
Including the APY for farming of ~71%, together with the 13,26% reward for liquid staking, it gives ~84% APY.
You can mint your vTokens in the vStaking section of the Bifrost app. Farming is available in the Farm section.
Consider supporting us by nominating your tokens to the Kusama or Polkadot validator going by the POLKADOTTERS name.
