Progress
Aleph Zero progress and strategy updates for Q4 2024
Nov 28, 2024
AI Summary
Let’s summarize all the major developments that happened so far in Q4––the next update will summarize the whole of 2024!
Strategy Update #3 is happening today (Thursday, November 28th) at 12:00 UTC! In line with the previous episodes, we’ll be bringing the core team to provide a general progress update for the project and the direction we are looking to move in over the next few months.
In this article, we’ll give you a concise recap of all the key milestones covered in Strategy Update #2, which was held last month.
1. Governance vote: New max supply and exponentially decreasing inflation implemented
Status: Complete—new max supply and exponentially decreasing inflation updated on Mainnet.
The four-phase community voting on Aleph Zero’s new economic model on gov.alephzero.org (powered by Syncra) was completed. The Aleph Zero community voted to introduce two key changes to the network’s economy:
Introducing a max supply of 520 million AZERO: A significant decision that establishes a total cap on AZERO coins. This change ensures that inflation is now constrained within a defined limit, creating a more predictable token supply over time.
Exponentially decreasing inflation: The community has agreed on an inflation model that will gradually decrease. It will start with 27 million AZERO minted in the first year after the changes are introduced. This new model replaces the previous rate of 30 million AZERO minted per year and will adjust the token supply in a more sustainable way.
These updates are now live with the launch of Mainnet 13.4 on October 14th. You can also expect more governance votes coming around the direction of the Aleph Zero EFP and the building out of the ecosystem.
2. Marketing strategy: Streamlining messaging and onboarding a new product marketing manager
Status: Ongoing—making steady progress with straightforward but compelling promotions planned around zkOS and Common app developments.
We recognize that we have complex products and are focused on simplifying our messaging around them. We’ve started to put this into practice in communicating the benefits of zkOS and its use cases, and where Common is headed as a product. Additionally, we’ve onboarded a new product marketing manager who is taking the lead on Aleph Zero and Common products.
We also have additional promotions planned around the coming Common app releases, and zkOS and our ZKP capabilities, and how they can strengthen Aleph Zero’s use cases.
3. Driving more liquidity and exchange partnerships
Status: Actively driving more liquidity, along with an additional exchange listing coming.
MEXC has added support for Aleph Zero EVM and launched futures trading on AZERO. The liquidity on two exchanges (Gate.io and Kucoin) has been ramped up significantly.
The new exchange listings are pending.
4. zkOS: Shielding Demo launch with ZK proofs of 0.27 seconds
Status: The Shielding Demo went live on Testnet—and a lot more zkOS-enabled updates are on their way.
The Shielding Demo is the most basic privacy function made possible by zkOS: “hiding” or shielding your tokens. You can now shield your tokens and enjoy total on-chain privacy:
- Privately transfer assets to any Aleph Zero EVM address;
- Protect your transactions from being tracked;
- ZK proof generations of 0.27 seconds reported on newer iPhones—with the goal of sub 0.1.
zkOS made all this possible with the following advancements:
1. Efficient on-chain cryptography: since SNARKs require custom cryptographic primitives available on-chain, zkOS provides heavily-optimized contracts that minimize the gas consumption—making transaction fees low for end-users;
2. Client-side ZK proving: Server-side proving involves computations done by an external party, while client-side proving allows an end-user to compute zk-SNARK proofs on their own device efficiently—thus enabling privacy without compromising UX;
3. Shielded pool primitive: a feature that allows the user to “hide” their tokens.
For a full video tutorial on how you can use the Shielding Demo, click here.
We expect an initial Mainnet release of Common Extension mid-December, although it will get a more advanced functionality in Q1 2025.
5. Common app: Steadily progressing
Status: Development in progress with Hyperlane and Across Protocol integrations.
The upcoming Common app will serve four functions. It will bring you a unified privacy account for all chains. It will ensure you have the highest sustainable yield across all of EVM. It will enable trading. And then—it will allow you to seamlessly use your crypto in the real world via Apple Pay and Google Pay. This is all powered by Aleph Zero’s zkOS.
We’ve also partnered with industry-leading bridging solution Across Protocol, which went live on Aleph Zero EVM (Arbitrum-Orbit). Aleph Zero EVM is the first Arbitrum-Orbit chain supported by Across. For our network and users, this means broad multichain bridging access between Aleph Zero and 14 other EVM-compatible chains, and lightning-fast bridging with 2-second transfers that’s affordable and cost-efficient.
Additionally, we’ve teamed up to integrate zkOS into Hyperlane’s open network, safeguarding over $3B in bridged assets. Aleph Zero zkOS now delivers lightning-fast, seamless privacy to +70 EVM chains supported by Hyperlane. With mainnet coming soon, this will bring shielding in as little as 0.3 seconds on your smartphone.
Common will provide users with a user-friendly interface akin to neobanks, but at the same time—and unlike neobanks—will distribute 100% of the fees back to token holders. Moreover, Common leads with privacy and brings a critical additional layer of omnichain privacy through Aleph Zero’s zkOS, with AZERO used as gas fees for all shielded transactions across the EVM space.
6. L1 institutional tokenization: Archiv3
Status: Launched Archiv3 together with Pekao Bank and Degen House.
We launched ARCHIV3 together with Bank Pekao and Degen House. This project is tokenizing and preserving Polish cultural heritage on the Aleph Zero blockchain, with digital reproductions securely stored in the Arctic World Archive (AWA). This initiative combines blockchain technology with a commitment to cultural preservation, ensuring the safekeeping of Poland’s artistic legacy for future generations.
This project is an excellent way to showcase our RWA abilities. We’re also making additional progress on the enterprise side of things (specifically telcos), along with our attaining Sharia compliance to specifically target the Middle Eastern market and enterprises here. Lastly, we’ve also onboarded a former Bank Pekao VP to drive greater institutional adoption via our Next-Gen Enterprise and Opportunity Navigator (NEON) program.
7. Ike’s Mainnet launch means that liquid staking on Aleph Zero is now live
Status: Introducing Ike—the Mainnet launch is complete and liquid staking is live.
Liquid staking on Ike allows users to simultaneously stake AZERO and participate in Aleph Zero’s DeFi ecosystem. And with Ike’s Mainnet launch, you can get started right now! Ike is the result of Kintsu undergoing a strategic fork, which made it possible for Ike to emerge as an independent brand that is completely dedicated to Aleph Zero. It is built by the same team led by Stephen Novenstern (former Head of Strategy at Pangolin DEX), so you can rest assured that the same expertise, dedication, and innovation that powered Kintsu’s success will now drive Ike forward.
You can already use sA0 on Common AMM and execute on multiple strategies to maximize your AZERO rewards.
8. Key integrations
Bridging for 14 EVM-compatible chains with Across Protocol
We’ve partnered with industry-leading bridging solution Across Protocol, which went live on Aleph Zero EVM (Arbitrum-Orbit). Aleph Zero EVM is the first Arbitrum-Orbit chain supported by Across. For our network and users, this means broad multichain bridging access between Aleph Zero and 14 other EVM-compatible chains, and lightning-fast bridging with 2-second transfers that’s affordable and cost-efficient.
Safeguarding +$3B in bridged assets with Hyperlane across +70 networks
Aleph Zero zkOS now delivers lightning-fast, seamless privacy to +70 EVM chains supported by Hyperlane. We’ve teamed up to integrate zkOS into Hyperlane’s open network, safeguarding over $3B in bridged assets. This means lightning-fast protection of user on-chain activity. With mainnet coming soon, this will bring shielding in as little as 0.3 seconds on your smartphone.
On and off ramping money the way it should be with Harbour
We’ve joined with Harbour to bring users the fastest, most seamless way to move money between their bank and Aleph Zero EVM (it takes under a minute). Every KYC-verified user gets a personal Magic IBAN that is linked directly to Aleph Zero EVM. You can now transfer EUR from any bank account to your Magic IBAN, and the funds appear instantly in your Aleph Zero EVM. If you want to cash out, you can easily transfer money back from your Aleph Zero EVM to any bank account in under a minute.
Adding Circle’s Bridged USDC Standard
Aleph Zero EVM will now benefit from Circle’s official Bridged USDC Standard. The Bridged USDC Standard is a framework for implementing USDC (USD Coin) to minimize fragmentation and open a way for Circle to take over ownership of the bridged USDC smart contracts, upgrading it into native USDC. This enhances our ecosystem by reducing liquidity fragmentation and providing a clear path toward native USDC adoption. The standard was recently made available via the Arbitrum ecosystem and has already been deployed on both the Aleph Zero EVM Mainnet and Testnet.
9. Aleph Zero IRL
Status: Ongoing—targeting specific events to promote major developments around zkOS and Common
We choose the web3 events and promotional opportunities we attend very carefully. A great example of this is DevCon Bangkok, which is one of the biggest global crypto conferences with a focus on zero knowledge and privacy-enhancing technologies. Antoni Zolciak and Adam Gagol showcased Aleph Zero’s enterprise potential and privacy-enhancing capabilities as key speakers at DevCon Bangkok at a wide range of events. Perhaps the most interesting talk was at the OpenFi event where both Antoni and Adam broke down Common and the capabilities it is bringing to the market in 2025.
Looking ahead to future progress
Strategy Update #3 is happening today (Thursday, November 28th) at 12:00 UTC!
Make sure you set your calendar and tune in for a rundown of last month’s highlights—and what you can expect as we move into 2025!
