This topic is to discuss the proposal submitted by @charlie .Please see below for the details of the proposal and discussion.
23rd Jan ,2024
Current status: Under Consideration.
Opened for community discussion on : 23rd Jan, 2025.
1 Like
Title
zkUSD Beta Readiness: Completing the Protocol for Full Operational Testing
Project Background
The zkUSD stablecoin project aims to deliver an algorithmic stablecoin on the Mina Protocol. Previous development stages validated core assumptions, demonstrated a local proof-of-concept, and introduced integration testing with initial UI refinements. After achieving alpha testing on a devnet deployment—where users could open vaults, deposit test MINA, and mint zkUSD under simulated conditions—the protocol is now ready for its final stage of development before undergoing a full security audit and eventual mainnet launch.
This final stage focuses on completing the remaining critical components: infrastructure setup, off-chain oracle software development, a branded landing page and documentation, and a comprehensive whitepaper detailing the protocol’s design and operations. The completion of these deliverables will mark zkUSD’s readiness for beta testing on devnet, paving the way for a full security audit and preparations for future exchange listings and business development efforts.
For reference, the journey so far is documented in earlier proposals and repositories:
Proposal Overview
Problem
While previous stages have brought zkUSD closer to production readiness, several key components remain incomplete. Without robust infrastructure, a fully operational oracle solution, user-facing documentation, and a whitepaper, the protocol cannot commence beta testing in a truly end-to-end operational state. These missing pieces hinder the next critical steps, including a full security audit and strategic exchange partnerships.
Solution
This proposal targets the final phase of pre-production work. By completing the infrastructure setup, delivering the off-chain oracle software, creating a polished public-facing landing page with documentation, and publishing a comprehensive whitepaper, zkUSD will achieve a mature, fully operational state on devnet. This state enables a broader community testing phase (beta testing) and ensures that zkUSD is primed for a subsequent full security audit and business development with exchanges.
In Scope
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Infrastructure Setup:
- Establish a robust, high-availability block producing node.
- Implement backend infrastructure for reliable protocol operations and maintenance tasks such as managing the oracle whitelist and handling fallback price data.
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Off-Chain Oracle Software Development:
- Develop the off-chain oracle tooling in Dockerized form, allowing oracle operators to quickly get online and submit price data on-chain.
- Incorporate configurable parameters (API keys, signing keys) and support for popular price feeds.
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Website and Documentation:
- Create a professional, user-friendly landing page to introduce zkUSD, its features, and its value proposition to users, developers, and potential partners.
- Provide comprehensive documentation, including setup guides and FAQs, to facilitate adoption and community engagement.
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Whitepaper Development:
- Produce a detailed whitepaper covering zkUSD’s architecture, security model, economic design, governance structure, and long-term vision.
- Outline the protocol’s decentralization roadmap, regulatory considerations, and integration points within the Mina ecosystem.
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Beta Testing on Devnet:
- Deploy the fully operational zkUSD on devnet with all infrastructure, UI, oracle off-chain software, and documentation in place.
- Open beta testing to the community, encouraging feedback, identifying potential issues, and gathering insights for further refinement.
Out of Scope
-
Full Security Audit:
The comprehensive security audit will occur after this phase, once the protocol and infrastructure are fully in place and tested. -
Mainnet Launch:
Actual deployment to the Mina mainnet and related final go-to-market steps remain outside this proposal’s scope.
Impact
Completing this final stage of development will yield a production-ready zkUSD environment on devnet, ready for thorough community testing. With all critical components—technical, infrastructural, and informational—in place, zkUSD will be well-positioned for a subsequent security audit, strategic exchange discussions, and eventual mainnet deployment.
By setting the stage for a well-documented and operational stablecoin, this proposal ensures zkUSD’s maturity and utility within the Mina ecosystem. This comprehensive readiness promotes confidence among users, developers, investors, and regulators, ultimately fostering a vibrant DeFi ecosystem on Mina and inspiring further innovations.
Audience
- Developers: Teams and individuals building DeFi applications who seek a robust stablecoin to integrate into their products.
- Users: Existing and potential Mina ecosystem participants interested in leveraging their MINA holdings through zkUSD vaults and other DeFi primitives.
- Exchanges, Investors, and Partners: Entities evaluating zkUSD for listing, liquidity provision, and strategic collaboration opportunities.
Architecture & Design
At this stage, the architecture encompasses all essential layers:
- Core Protocol on Mina: The foundational smart contracts and circuit logic responsible for algorithmically managing the zkUSD supply through user vaults and collateral deposits, maintaining stable value and ensuring the system’s economic integrity.
- Oracle Integration: Off-chain software feeding price data securely and reliably to maintain accurate collateralization metrics.
- Infrastructure & Admin Tools: Redundant node setup, administrative interfaces for managing the oracle whitelist and fallback pricing, ensuring continuous protocol availability.
- UI & Documentation: A polished frontend with intuitive UX for managing vaults, and comprehensive docs guiding users.
- Whitepaper: Serving as the authoritative resource on zkUSD’s design, governance, and economics.
By completing these components, the protocol’s design will be fully realized, enabling end-to-end testing and future-proofing the project for mainnet launch.
Vision
With the deployment now fully prepared for beta testing, zkUSD stands at the threshold of delivering tangible value. Its successful operational readiness on devnet lays the groundwork for a secure and stable financial tool within the Mina ecosystem. As zkUSD matures, it will empower further DeFi innovation—such as lending platforms, DEXs, and synthetic assets—cementing Mina’s position as a privacy-centric DeFi hub.
The comprehensive solutions delivered in this stage will instill confidence in the protocol’s viability, attracting developers, users, and partners, and paving the way for a seamless mainnet launch after a rigorous security audit.
Budget & Milestones
Duration: 2 Months
Deliverables
- Infrastructure & Node Setup: A stable, redundant node and protocol admin tools.
- Off-Chain Oracle Software: Containerized oracle tooling and documentation for operators to easily submit price data.
- Website & Documentation: A public landing page with clear branding, documentation, and developer resources.
- Whitepaper: A detailed whitepaper outlining the protocol’s architecture, economics, governance, and compliance framework.
- Beta-Ready Devnet Deployment: A fully operational zkUSD environment on devnet, ready for community testing and feedback.
Milestones
Midpoint (1 Month)
- Off-chain oracle software MVP completed.
- Infrastructure partially set up and undergoing internal testing.
- Draft whitepaper and initial version of landing page for review.
End of Project (2 Months)
- Full infrastructure online and tested.
- Final version of whitepaper published.
- Completed website and documentation.
- Beta-ready zkUSD environment deployed on devnet for community testing.
Budget Requested
Total: 85,000 MINA
Budget Breakdown
- Infrastructure Setup & Protocol Administration Tools: 15,000 MINA
- Off-Chain Oracle Software Development: 20,000 MINA
- Website & Documentation: 25,000 MINA
- Whitepaper Development: 10,000 MINA
- Coordination, Testing & Beta Deployment: 15,000 MINA
Team Info
Proposer Github
Education:
Self taught programmer, professional history as Scrum Master/Agile coach in large financial institutions
Experience:
Spent the last 3 years building full stack web3 projects including:
Nanobyte - browser wallet / payment processor for Nano
Notifly - AI powered personalised newsfeeds for crypto projects
Omnipus - LayerZero multi-chain defi memecoin project
Relevant Projects:
Chainmail - A ZK Email marketplace
Foundry-Stablecoin - A working implementation of DAI in Solidity
Achievements
ETHDam 2024 (Finalist) - BlockLock - on-chain password manager
ETH Berlin (Runner up) Chainmail - as above
Team Members
Team member:
Michał Adamczyk (anks)
Education:
Graduated IT from Warsaw University of Technology with a specialization in AI/ML.
Experience:
12 years in software engineering spanning research, machine learning, full-stack web development, mobile development, low-level cross-platform libraries, and web3 smart contracts development. Over the last 3 years spent in web3: Cardano and then MINA.
Work included:
MinAuth - an o1js-based library and accompanying set of Typescript packages making it easy to set up authentication/authorization based on zero-knowledge proof verification.
Liqwid finance DeFi - https://liqwid.finance/
cardano-transaction-lib - a Purescript library for building smart contract transactions on Cardano
Agora - governance modules for Cardano protocols
Achievements:
Protokit prize at zkHack KrakĂłw
Discord handle: anks_
Team member:
Vikrant Patankar
Education:
Self-taught product designer and filmmaker with a professional background in user experience and branding design.
Work Experience:
- Studio Little Nice Things (2023–2025) – Product design and visual storytelling.
- Deep Work Studio (2021–2023) – UX/UI design for Web3 startups.
- Freelancing in Web3 (2021–Present) – Collaborated with projects like Spark MakerDAO, Obol Labs, and Omnipus.
Achievements:
- ETHDam 2024 (Finalist)
- Socials: @vikr13nt
Risks & Mitigations
Regulatory Uncertainty
- Risk: Changes in regulatory landscapes may require adjustments to governance or DAO structures.
- Mitigation: Utilize compliance insights from previous phases, build flexible governance frameworks, and remain ready to adapt entity structures.
Technical Complexity
- Risk: Integrating infrastructure, oracle tooling, and UI components could introduce complexity and delays.
- Mitigation: Employ early testing, and clear documentation to identify and resolve issues promptly.
Security Vulnerabilities
- Risk: Undiscovered vulnerabilities could surface during beta testing.
- Mitigation: Conduct extensive internal testing, encourage community feedback, and plan for a subsequent full security audit prior to mainnet deployment.
1 Like
Nice work - looking forward to using $zkUSD! It would be good to start documenting your progress and the move towards a production-ready version of zkUSD on X with regular technical updates - either on your personal account, or by creating a protocol account. Will get a lot of support from the Mina community, and increase exposure ahead of devnet.
2 Likes
Thats a great suggestion. I’ll post progress updates from my own and create a protocol one later on.
You can check it out here: x.com
3 Likes
Community Update #1
Not too much to report on this one yet as the main focus has been completing the steps necessary for early alpha testing on the other proposal.
Infra
We have set up our automated services infra which watches for every new block and creates the price proofs from the oracles for use in zkUSD. We also process the events of each block so that we can keep track of the state of the vaults, eventually being able to expose a service for “liquidators” to track the financial health on vaults to help facilitate timely liquidations.