Fizk Protocol (zkUSD)

Hey everyone. It is with a heavy heart that I must inform you that we are unable to continue working on Fizk. We spent the last couple of months looking for the funds necessary to continue development but unfortunately we have been unsuccessful. Ultimately, it came down to a lack of partnerships or a clear go to market strategy necessary to raise funds in todays capital environment. I want to express our eternal gratitude for the support from o1labs and the community to get us to this point. We have been working on Fizk for the better part of a year and have enjoyed every moment of it. Mina has a bright future, which we hope to be a part of moving forward. Thanks again and my apologies we were unable to deliver what you guys deserve.

Another month, another update. TLDR: We are gearing up to raise a seed round of funding to build out Fizk. Long version: We have written the whitepaper/specification for the new zk-based rollup architecture: github.com/zkUSD-Protocol… We have also been working hard on our core proof system for the rollup, you can follow along: github.com/zkUSD-Protocol… We are now working on our overall pitch and are currently seeking some early feedback from friendly Angel investors. So if you are one, or know any, please get in touch. We would love to kick our ideas around with you. We truly are super excited about the prospect of building out Fizk and what it can represent as revolutionary tech stack that doesn't sacrifice privacy while maintaining audibility to deter criminal activity rather than attract it. Privacy is a fundamental feature of digital finance and its about time we have a confidential stablecoin.

A brief update to let you all know we still have our heads down. We have recently finalised an architecture for our app-chain rollup. It features: - A confidential stablecoin, with governance mandated audit capabilities to combat money laundering - Performant, 1 min block time, with practically unbounded throughput - Native bridging for multi-collateral vaults and fluid ecosystem accessibility We are writing the new version of the white paper while also building out the core proof system.

We’ve just completed implementation of a novel self-governing DAO architecture for the Fizk Protocol. This system supports holistic protocol governance, from adjusting risk parameters to upgrading the verification keys of smart contracts. It represents an important step toward progressive decentralisation and is a key milestone as we move closer to mainnet deployment. This design enables off-chain, proof based governance of a decentralised protocol, preserving transparency while ensuring efficient execution. With that being said, we are now actively exploring new architectural directions. One of our original working assumptions when building out Fizk was the availability of a DEX on Mina and a bridging mechanism to extend zkUSD beyond Layer 1. As a result, the protocol has been built as a self-contained system. But this assumption may no longer hold, so we’re evaluating alternatives. Specifically, we’re investigating whether zkUSD could be implemented as its own zkRollup. The goals of this architecture are twofold: - First, to explore whether we can use a high-performance shared execution environment, such as Sui or Solana, as the sequencer for the rollup, benefiting from their speed while retaining the security and decentralisation guarantees of Mina by settling state to L1. - Second, can we design a confidential yet compliant stablecoin, shielding user balances and transactions while maintaining adherence to international financial regulations. If we are successful we could enable a stablecoin that is both decentralised and privacy-preserving, while remaining operable within the evolving regulatory landscape. Which would be very exciting indeed!

@trueIoV We have our own zk native oracle circuits. The protocol maintains a whitelist of oracles on chain and these oracles expose prices signed to the current block. Users then collect this signed data and process them through an aggregation zk proof, using the result with transactions.

@fizk_protocol Which oracle will you use on mainnet?

We have just released a CLI tool for interacting with the Fizk protocol from the terminal. Its fully decentralised: 1) Client side proving for oracle price and tx proofs 2) Vault state built from contract events Check it out: @zkusd/cli" target="_blank" rel="nofollow noopener">npmjs.com/package/@zkusd…

We just hooked up our first oracles on devnet! We are now getting real prices. Check it out. devnet.fizk.xyz/app/connect If anyone is interested in running an oracle on devnet then please reach out.

@minacryptocom @MinaProtocol Yeah absolutely. Let's coordinate.

This looks cool @fizk_protocol Can we do a space together and tell people what you're doing with @MinaProtocol?

Hello World.