ZK-Offchain Sentinel
Securely collateralizing off-chain assets using TLSN to obtain GHO on-chain
Demo
About
Using our protocol, you can collateralize your off-chain assets to mint GHO tokens on-chain using our secure Offchain-Sentinel Facilitator. We are using TLSN to generate ZK proofs stating your locked off-chain assets. For this hackathon, we have used Stripe in which users can pay in USD to a third party that can maintain an on-chain balance, which will be locked to mint the GHO tokens on-chain. Let's understand it from the perspective of users and the third party:- Users:- 1. You pay in USD to a third party using Stripe 2. You get the respective amount of GHO tokens you have collateralized off-chain assets for. ThirdParty:- 1. Maintains assets on-chain 2. Receives USD payment off-chain from the user 3. Locks the on-chain assets to mint GHO tokens for the user.
How it's made
TLSN is used to generate proofs for payments made from users to third parties and vice-versa. These TLSN proving mechanisms are written in Rust as they need to be time and memory-efficient. We have designed two nodes for this project:- 1. Validator Node(Third Party):- Receives the webhook from Stripe generates a TLSN proof for the payment and shares it with the Sentinel Node. 2. Sentinel Node:- Receives and verifies the proof from the Validator node and calls the smart contract to mint GHO tokens. Similarly, receives payment proofs(TLSN) from the user and burns GHO tokens.