Telegram Tidbits: Mid January

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January 18, 2024

v2 wallet funding, Momiji UTXOs, shift cost, protocol fees & more.

January 2nd

Community member Plutocat asked:

What’s the deal with relayers in V2? And will there be mechanism to fund new wallet with ETH for gas?

Greybeard:

Provers replace the Offshift v1 relayers. Funding new wallets is a good question, we’ll likely do something similar to before but it’ll be a small deposit of your choice instead of a set 0.05 ETH.

*Update from Feb 5:

January 4th

Community member Plutocat asked:

What types of transactions within Momiji contribute to the anonymity set? Do all transactions look the same? For example, could someone distinguish between a trade and a transfer or a full transfer vs. a partial asset transfer?

Greybeard:

So all transactions look the same, but deposits and withdrawals include additional public information. In most cases, that means those txs are just deposits or withdrawals.

However, the protocol supports any combination of withdraw/deposit/privatesend/swap in a single tx (the v2 front-end actually demos this by depositing and withdrawing in the same tx - obviously on main net you’d need to have deposited funds first to withdraw).

Every tx actually supports up to 16 utxo inputs and outputs, and you can do any combination of actions within that, each utxo has its own “operation type”, the tx itself does not! That means you can do stuff like multiple private sends and swap and withdraw in a single tx.

Re: distinguishing, the usual caveats apply. If you deposit then shortly after withdraw, people will see addr X deposit Y then addr Z withdraw Y, and if it’s a quantity that is unlikely to be from anywhere else, no amount of tech will help you.

The normal precautions apply: shift after entering, don’t fully withdraw, wait some time between deposit and withdraw.

We will be doing an extensive guide on privately using the platform before launch - we want to make sure users are aware that they need to work with the tech to achieve privacy and that it’s not a magic bullet where the user can ignore all precautions (and any precautions we suggest would apply to all protocols, not just ours)

Oh and to answer the anon set question, all output utxos add to the anonymity set - that means anything that isn’t a withdrawal - so deposits, private sends, swaps, change, etc all result in utxo creation. Full private spends help the existing set but do not increase it (because you use one to mint one), but all partials have change utxos which increase the set. Partial withdrawals also help since the change is private.

January 16th

Community member S V asked:

Is anyone wanting to shift using v2 forced to take XFT exposure? I.e. someone with ETH cannot maintain the ETH price exposure if they shift in?

JohnnyXFT:

XFT is the only asset you can shift in with regardless, this has always been the plan. Once we implement additional assets you can shift from XFT > zkXFT > zkETH or whatever other zkAsset you want.

Neo:

Well we are gonna integrate the uniswap router so if you have ETH, the process will smooth from ETH to zkXFT.

January 17th

Community member John asked about the expected price of shifting.

Greybeard:

Closer to 2 bucks. Initial deposit will cost a few hundred thousand gas but after that it should be 5 digits gas price plus proving fee.

*Update from Feb 20:

January 18th

As a reply of a discussion with community members, Greybeard wrote:

There is no protocol fee. That could change but currently there aren’t any plans to have one.

For all the latest developments, make sure to join the official Offshift Telegram and follow us on X !

And keep an eye on our team member’s X accounts as well: Greybeard , n00b and Johnny !