metadata: {"title": "Brainbot/Shutter", "logoImg": "bafkreic6qve5747xhc37ttmipzou4yzfl77gbjgfaebrgujzqsrrv3o4gm", "website": "https://www.shutter.network/", "bannerImg": "bafkreigqkg3zhq5uzdxpwx5qnuzmxtt7iu7usip34pfdgltwnw7hahrb2e", "createdAt": 1726189427480, "credentials": {}, "description": "Shutter is a threshold encryption (privacy) protocol with a wide variety of applications, including: malicious MEV prevention, censorship resistance, voting integrity, and gaming fairness. \n\nCurrently, we have two main applications for the protocol, both relevant for Metis; Shielded voting and Shielded Trading.\n\nShielded Voting. \n\nShutter protects DAO votes from manipulation by whales. Votes are encrypted when cast and revealed after the voting period ends.\n\nShielded Voting is integrated natively with Snapshot. It is currently used by 382 unique communities. It has protected over 3,675 proposals and 287,735 casted votes (https://dune.com/aurelianob12/dashboard-shutter). It is free to use and fully open source. Shielded Voting is currently live on Metis.\n\nShielded Trading.\n\nShielded Trading is currently the main focus of Shutter Network. We aim to provide a solution for front-running prevention and real-time censorship resistance through transaction encryption using threshold cryptography-based distributed key generation (DKG). An encrypted mempool prevents the parts of MEV that are considered malicious (front-running, sandwich attacks) while leaving the distribution of the benign types of MEV (arbitrage, liquidations).\n\nEnd users, especially from DEXs and DEFI, benefit the most from shielded mempools. It strikes the best balance between ensuring market efficiency and minimizing malicious MEV. In other words, users enjoy a higher degree of base layer neutrality leading to a) better and fairer prices on DEXs and DeFi protocols due to front-running protection and b) an additional censorship resistance layer.\n\nThe encryption of the mempool obscures transaction details, preventing any party from manipulating or censoring transactions based on their content. Ensuring that the transaction order is free from interference aligns with regulatory goals of maintaining fair and transparent market practices, potentially fostering a more cooperative relationship between blockchain networks and regulatory bodies. This minimizes regulatory threats; for example, the Markets in Crypto-Assets Regulation MICA could treat front running and other types of MEV as \u201cmarket abuse\u201d (https://twitter.com/paddi_hansen/status/1795084797238256110)\n\nWe have discussed the idea of integrating Shielded Trading with key developers and architects from the Metis community, and we want to get closer to the community to make Metis safer and more market-efficient for trading, prevent front-running, sandwich attacks, and censorship, and leave to the Metis community the decision of how to distribute benign types of MEV like arbitrage and liquidations.\n\nFor more info look into our linktree: https://linktr.ee/ShutterNetwork.", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "", "projectTwitter": "ShutterNetwork"}
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