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July 10, 2024

Mind Network Alpha Mainnet Launch: A Fully Homomorphic Encryption Driven Restaking Layer for AI and POS Networks

We are excited to announce the Alpha Mainnet launch of Mind Network, a Restaking Layer that leverages Fully Homomorphic Encryption (FHE) technology and is designed to enhance the security and efficiency of AI and Proof-of-Stake (POS) networks. With this launch, we aim to address critical issues in consensus, data, and crypto-economic security through innovative FHE technology, providing robust solutions for decentralized ecosystems.

Alpha Mainnet Launch:Key Insights and Expectations

The Mind Network Alpha Mainnet marks the first phase, which is the FHE Restaking Layer. In this stage, we will initiate and refine Restaking-related functions.

In our Restaking service, there are two types of pools: Flexi Pool and Club Pool.

Flexi Pool supports flexible deposits and withdrawals at any time. The Club Pool will require a fixed lockup period with greater yields.

The initially supported networks and assets are as follows:

  L1 Network: Ethereum

  • pufETH(ETH staking asset from Puffer
  • ezETH(ETH staking asset from Renzo
  • eETH(ETH staking asset from Ether.fi
  • swETH(ETH staking asset from Swell
  • PT: Principal Token (Principal Token of ETH Staked Assets on Pendle)
    • pt-pufETH
    • pt-eETH
    • pt-ezETH
    • pt-stETH
    • pt-weETH

By using the above assets to participate in restaking on the Mind Network, users can earn Mind XP and multiple staking rewards from the respective protocols. Stay tuned, we will collaborate with multiple partners to launch more exciting campaigns in the near future.

MindXP is the Mind Network’s point system, serving as a metric for contributions to the shared security of the Mind Network ecosystem. The primary factors include participation in restaking, such as the amount staked and the duration of staking. 

Mind XP: https://docs.mindnetwork.xyz/minddocs/restaking-guide/mind-xp

Check out our tutorials for more details. 

Tutorial:https://docs.mindnetwork.xyz/minddocs/restaking-guide/restake-tutorial

What Makes Mind Network Different? Yield from Security

Mind Network generates new yield to the restaking ecosystem by providing data and consensus security for decentralized AI networks and PoS networks, ensuring the sovereign security of these networks.

Consensus Security: In AI and PoS networks with smaller validator networks, consensus security is challenging and prone to manipulation and fraud. We use FHE encryption to verify computations, ensuring fairness and security in the consensus process, preventing validators from influencing each other’s results.

Data Security: AI networks often involve sensitive and high-value data, requiring strict data security measures. Mind Network employs end-to-end encryption, enabling encrypted data computation and ensuring data privacy and security during computation and verification processes.

Crypto-Economic Security: Tokens staked in AI and PoS networks are often subject to volatility, impacting network security. Our restaking solution supports multiple assets such as ETH, BTC, and blue-chip AI tokens, mitigating risks.

Benefits of Remote Staking

In addition to the security offerings, Mind Network introduces Remote Restaking to ensure universal restaking across multiple chains and minimizes the risk and cost of cross-chain transfer.

  • Secure Asset Management: Your assets remain on their original blockchain network, reducing the risk associated with cross-chain transactions.
  • Diverse Rewards: By participating in remote staking, you can earn diverse rewards from Mind Network and the ecosystem you staked in.
  • Network Contribution: Your staking activities contribute to the network’s security and validation processes, supporting the overall health and functionality of the ecosystem.

Remote restaking is an innovative service that enables holders of Liquid Restaking Token (LRT) and Liquid Staking Token (LST) to participate in staking without the need of bridging tokens to other chains (while cross-chain tx is still required).

Looking Ahead

Mind Network‘s architecture is divided into three layers:

  1. Restaking Layer: Supports Remote Restaking of LST/LRT assets, ensuring asset security and acting as a restaking market to provide various tokens to secure the network for Subnets.
  2. Consensus Layer: A Rollup based on Altlayer and EigenDA, ensuring the completion of the FHE verification process and consensus.
  3. Security Layer: Composed of multiple independent FHE validators, providing secure FHE verification services for the network.

The Alpha Mainnet launch marks an important milestone in our journey of building a truly dynamic and universal restaking layer. Mind Network is dedicated to pushing the boundaries of what is possible in decentralized security. We continue to expand our partnerships and supported assets, ensuring that our network remains at the forefront of innovation in the blockchain space. Join us as we revolutionize the security and functionality of AI and POS networks through cutting-edge FHE technology.

About Mind Network

Mind Network is the first FHE Restaking Layer for PoS and AI Networks. Their framework operates as an FHE validation network, bringing secure computation and consensus to Bitcoin restaking, Decentralized AI, Bridges, EigenLayer AVS, Bittensor Subnet, and many critical PoS networks. Mind Network’s solution enables verifiable decentralized computation over encrypted data.

Mind Network is backed by Binance Labs, Hashkey, Big Brain, Chainlink, and received an Ethereum Foundation Grant for their FHE research on Ethereum.

For more insights and updates on Mind Network’s innovations, visit their website and socials:

Website | Twitter | Medium | YouTube | Github | Gitbook | Discord | Telegram

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

More articles
Gregory Pudovsky
Gregory Pudovsky

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

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