Check the recording :), here are the notes!
1. Transparent Addresses Update
- New UIP proposed for transparent addresses implementation: check it out here.
- Addresses USDC transfer incompatibility issues from Noble upgrade
- Solution allows creation of one specific fixed address per user wallet which is compatible with chains that place extra restrictions on address length
- Transparent addresses will:
- Fit in 32 bytes
- Look like standard Cosmos addresses
- Deposit directly into shielded pool
- Permit IBC transfers using them to be linked (unlike standard Penumbra behavior, which uses a unique IBC deposit address per transfer)
- Serve as a workaround for current Noble issues, but should not be used long-term after Noble provides a fix on their end
2. New DEX Frontend Development
- Complete redesign of trading interface
- Key features:
- Market buy/sell functionality
- Limit order capabilities
- Range liquidity provision
- Fee customization for liquidity providers
- Position history tracking
- Live mainnet data shows successful liquidity provision and trading
- Launch expected within next month pending bug fixes
3. DEX Explorer Technical Achievements
- Efficient capital utilization through advanced matching engine
- Ability to bridge liquidity between different pairs
- Competitive fee structure where LPs set their own rates
- Orders ranked by effective price (inclusive of fees)
- Current successful example: $100 LP position earned ~$140 in fees processing $50,000+ in volume
4. Skip Integration
- New integrated Skip deposit widget added to Penumbra frontend
- Manual deposit flow remains available as backup
- Improves user experience for asset deposits, permitting one-click deposits from more chains
5. Future Vision & Development
- Penumbra aims to function as a “shielded home base” for cross-chain activity
- Preparing for IBC Eureka (IBC v2) in 2025
- Will enable native connection with Solana and Ethereum
- Focus on maintaining privacy while enabling seamless interoperability
- New UI designs being worked on by Radiant for early 2025
6. Community Updates
- Beta program available for testing pre-alpha software
- DEX Explorer testing opportunities coming soon
- All development remains open source on GitHub
- Community programs in development (details forthcoming)
Upcoming
- Release of new DEX frontend after final bug fixes
- Implementation of transparent addresses
- Further development of Skip integration
- Continuation of beta testing program
The team emphasized that Penumbra is setting new standards for DeFi by combining privacy with capital efficiency and user experience improvements.