Incognito's Q2 2022 Roadmap

Hey privacy supporters! :raised_hands:

The dev team finalized the development roadmap for Q2 (May, June, and July) of 2022. Persisting in the privacy nature of Incognito and listening to the community’s demands are what always drive our direction in making an action plan.

Here are what we commit to deliver in Q2:

Incognito Development

Infrastructure

:white_check_mark: Key result 1: Release Instant Finality to reduce the transaction processing time by 50%.

The current design of the Incognito blockchain requires 2 consecutive blocks to guarantee that a transaction will not be reverted. Instant Finality will remove the requirement of 2 blocks and allow transactions in the current block to be finalized once they are gathered and get enough votes from committee validators.

Effect on end user: Users will enjoy a 2x faster speed for swaps, cross-shard transfers, and pApps processing time.

:white_check_mark: Key result 2: Skip chaining empty blocks.

Keep adding new blocks without any transaction results in over-occupied disk storage and directly affects the effectiveness of network validators. In this quarter, we will work on an upgrade so the blocks with no transaction or instruction will not be added to the chain. This will also come up with a new challenge for the team to recalculate and propose a new formula for block rewards to maintain the total PRV supply.

Effect on end user: Validators won’t need to store unneeded blocks which will help reduce significant required storage in the current network situation.

:white_check_mark: Key result 3: Reduce block time from 40s to 30s.

Currently, a new block on Incognito chain is confirmed after 40s. In this quarter, we aim to speed up the transaction processing time by reducing block time to 30s/block. This development will only be implemented after we deliver key result 2.

Effect on end user: Swap and pApp processing time will be extra improved by 25% multiplied by the speed achieved from Instant Finality development.

:construction_worker_man: Should you have any questions regarding the infrastructure layer, please contact @0xkumi for further discussion.

Privacy improvement

:white_check_mark: Key result 4: Release One-time shielding address.

Since a detailed proposal for this feature was published in January, we have seen lots of interest and support from users. OTA shielding address is estimated to be officially released by end of July and will support shielding from BTC and EVM-based networks.

:white_check_mark: Key result 5: Improve tx verification time by 50%

This improvement will support Block time reduction as stated in Key result 3.

:construction_worker_man: Should you have any question regarding privacy improvement, @daniel is the right member to reach out to.

Integration and Privacy Apps

:white_check_mark: Key result 6: Deploy bridges to Terra and NEAR networks.

Seeing the demand to store, transfer, and trade NEAR and Terra assets privately, in this quarter, we will build the 14th bridge to Terra and the 14th bridge to NEAR protocol.

New bridges will come along with new utilities. Privacy Multichain, pStable Coin, and Privacy Savings are 3 new products that we plan to build in Q2. For those who have been waiting for pUnified Token feature during the previous months, pStable Coin is not only the continuation of the development, but also an upgrade version of the utility.

What potentials do you see from those new products? Do not hesitate to visit this topic and share your feedback.

:construction_worker_woman: Should you have any question regarding bridges and pApps, @hiennguyen is the key member to discuss.

Web-based products

:white_check_mark: Key result 7: Launch Wallet Extension.

In addition to mobile application, wallet extension is providing users with a new option to interact with Incognito blockchain. Using Incognito extension, users can manage their keychains as well as balance, store and transfer tokens in a web-based environment.

:white_check_mark: Key result 8: Launch a Web-based application.

The first web-based application to be built after wallet extension will be the privacy exchange (known as pDEX for familiar users). Once this product is launched, users can trade crypto assets, view charts, and hopefully add liquidity on web-based interface.

Read the detailed introduction for web-based application >

:construction_worker_man: Should you have any question regarding Web-based products, please ping @hieutran for further discussion.

Growth

For the first quarter of having the Growth team back, here are the goals and activities that Growth team will work on:

Goals

  • Grow $1.5M total TVL.
  • Grow 75% of 24h Trading volume.
  • Grow 15% of the total Liquidity Pool.

Growth initiatives

To achieve the goals committed above, Growth team will focus on these activities:

  • Get grant and cross-marketing with Terra , NEAR, Polygon, and Fantom.
  • Partnership with dApps projects.
  • Community referral.
  • Get Incognito listed on major listing sites.
  • Public Relations (TBD)

Products support Growth

To support Growth metrics, here are 2 products that Dev team will collaborate with Growth team to build:

  • Referral program: Similar to other tech projects, we believe that referral is one of the most effective ways to acquire new users. However, different from the majority of projects on the market, the referral mechanism of Incognito needs to be designed in a way that preserves users’ privacy.

  • Incognito Explorer v.2: Definitely! The current explorer site only contains basic information about the network. We believe that users want to deep dive into the network more than that. Explorer v2 will appear with more insightful charts, more essential information, and a new interface structure.

We will keep the community posted on every achievement/ new product launch. Thank you for being around and using Incognito products!

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Looks great! If you manage all that in Q2, I’ll be really impressed. :partying_face:

Don’t forget that to achieve better decentralization, we want to be able to clone, build, and run locally. Today there is unfortunately no ready-made solution that doesn’t get routed through the centralized Incognito servers. As the popularity of Incognito grows, the risk of grabbing attention and government intervention increases.

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This exactly one of the things we discussed around Web-based apps.
@hieutran will have a detailed topic explaining about Wallet Extension as well as Web-based app aspects.

  • How are the keychains managed in web environment.
  • New shielding/unshielding execution for users who want better decentralization.
  • Browser support.
  • etc.

We will link the topic here for you once it’s published.

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So, part of this Q roadmap was to build a Terra bridge. I am one of the (unlucky) Terra users, so I’m aware of the collapse of Terra.

Any chance of turning to Cronos seeing as a Terra bridge is obv off the table?

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Hey mate @fredlee, pls check out latest topic regarding Incognito Web-based Apps.. Your thoughts about our new products would be much valuable.

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I feel sorry for the collapse last week. :woman_facepalming:

Instead of put efforts on Terra bridge as the first plan, now that we switch our priority to building bridge to NEAR protocol (we just got a nod from them for grant and support :wink:), deliver Unified pToken and the rest of Q2 Roadmap as committed above. :relaxed:

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I have a feature request to boost the order book usage: Crosspair orders :slight_smile:
Yesterday a user’s complaint on Telegram has made this idea come to my mind. Currently, most of the pairs are with PRV. Because of that, the people who do not want to buy/sell PRV cannot use the order book feature. For example, someone wants to sell BTC for DAI at a predetermined price. She cannot do this with the current pairs since there is no such pair. To do that, she has to sell BTC for PRV and then sell PRV for DAI. This means that she has to carry the risk of value change in PRV during this process.

A backend feature for such orders would be better. However, this can be implemented just on the frontend side as well for now. When the user wants to enter a BTC/DAI order, first the app creates a BTC-DAI pair if not exist, and then puts her order into the order book. Zero backend modification. Just a shortcut on the app.

To me, Incognito’s order book feature fits OTC very well (ofc some features can be added such as the predefined buyer/seller, all-or-none order). Anyway, my idea may be seen as an initial step for marketing the private OTC :slight_smile:

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It’s a good idea.

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Bridges scare me and clearly Terra Luna can not be considered anymore in development. Near is similar. Please be very conservative in your partnerships. Perhaps a project having survived two market cycles as a benchmark.
I’m still looking for an account balance on the site. Separated per wallet, Provide assets, etc…
Keep up the good work.

I’ve written to Duc on Telegram. In case he may miss it, I write here too: @Support

Tron instead of Terra :slight_smile: USDD instead of UST :slight_smile:

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Hey @Dew, thanks for your feedback, we understand your concern, especially in the hard situation these days but even if we build a bridge to Near or whatever network, we just provide a privacy layer for it (eg. Converting NEAR to pNEAR) and as long as we don’t unify riskier tokens with safer tokens into an unified privacy token, we can reduce risks (of course, it will still affect the tokens’ pools in Incognito exchange)

@abduraman just replied you on telegram, thanks again for pointing that out.

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A new idea: Atomic OpenDEX on top of pDEX.

While I browse Monero posts, I see many Monerors ( my term :slight_smile: ) looking for an atomic exchange to buy/sell XMR. Some of them do not consider pDEX as atomic since it requires another coin (PRV) and a complex process (shield-exchange-unshield). We need a reverse process of how pApps work, i.e. unshield-a smart contract exchange-shield.

Example: When someone wants to sell XMR for ETH, our openDEX will show an XMR deposit address and request an ETH withdrawal address. After she completes the first step by sending her XMRs to the given deposit address, XMRs will be shielded, converted to ETH via pDEX and some ETH will be unshielded to the withdrawal address in an automated (ofc trustless is better) way. All of the network and trading fees will be cut from the deposited XMR.

The team can implement this not only for XMR but also for other major coins. The only issue is user education. They have to know that this process does not give them privacy unless they buy a privacy coin.

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You may already know that since you have cooperated them for TLOS token recently. Then just a reminder :slight_smile:

Instead of (or before) this above, Telos EVM bridge can be implemented more quickly since it doesn’t require the new contracts. Telos foundation seeks the projects for funding.

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Perfect! Thanks for reminding us on this program. Let us work around with Telos team to see if Incognito can get a grant support from them :crossed_fingers: :crossed_fingers:

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Also, Optimism bridge may be a good idea, as they are also giving grants for building with them!

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Hey guys, please have a look at Incoginto’s Q3: Technical Roadmap for Q2’s conclusion and Q3’s plan:

TLDR:

  • 7 initiatives have been done in Q2.
  • 2 initiatives - Blocktime reduction and committee size increase to 64 are delayed till Q3.
  • pEthereum improvements are prioritized and the One-time shielding address is deprioritized since the former would bring more benefits (as mentioned in its proposal) to the swap function than the latter.

Thank you!

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Thanks for the update @duc. Does the deprioritizing of one time shielding addresses mean that this feature might still be in the works for Q3? If not, will it be a priority for Q4?

Hey @3prime, the original goals of one time shielding address were to help increase privacy for 2 features:

  1. Deposit public coins to Incoginto (shielding)
  2. Re-deposit swapped coins after swapping with outchains’ DEXs (eg. pUniswap, pCurve, …)

In fact, the 2nd one will be addressed by the initiative. So basically, we will be able to solve 50% of the problem in this quarter and the other 50% will be solved in Q4 I guess.

Thanks for your patience and for still being around!

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