ShutterPrice

(SHU)

Shutter is a specialized infrastructure protocol that provides encryption-as-a-service to protect users from front-running and censorship. It utilizes threshold encryption to hide transaction details before they enter the public mempool. Transactions are only decrypted after they have been finalized and ordered in a block, which prevents bots from viewing the content to perform sandwich attacks or front-run trades. By ensuring the data remains hidden during the sensitive ordering phase, Shutter creates a fairer and more secure environment for users on various blockchains.

While traditional MEV-reduction solutions often rely on creating private transaction lanes to bypass the public mempool, Shutter uses advanced threshold cryptography. Private lanes still require users to trust specific relayers or validators with their transaction data. In contrast, Shutter hides transaction details even from the validators themselves. The data is only revealed after it is too late for any actor to manipulate the ordering, providing a trustless layer of protection that does not rely on the honesty of a single intermediary.

SHU is the governance token for the Shutter ecosystem. Holders use it to elect Keypers, the node operators responsible for generating encryption keys. It also grants voting rights on protocol parameters, fee structures, and treasury management. Furthermore, the protocol is implementing a staking mechanism where Keypers must stake SHU to operate, and regular holders can delegate their tokens to Keypers. This delegation helps secure the network while allowing participants to earn a portion of the protocol rewards.

SHU is accessible on several prominent trading platforms, including LBank and various decentralized exchanges. The token is natively issued on Ethereum but has been bridged to other networks such as Gnosis Chain, Base, and Optimism to support cross-chain functionality. This allows the protocol to provide its services, like shielded voting and encrypted mempools, across multiple ecosystems. Users can interact with the official contract addresses on these different chains to participate in governance or utility-related activities.

Keypers are a decentralized set of node operators who collaboratively manage the decryption process. No single Keyper can decrypt a transaction alone; instead, a specific threshold of the group must work together to generate a key. To ensure network stability, the protocol features a "fail-open" design. If the number of active Keypers drops below the required threshold, the system temporarily reverts to a standard mempool. This ensures the blockchain continues to function without halting, even if the specialized encryption protection is temporarily unavailable.

Shutter is currently operational on Gnosis Chain and provides shielded voting for DAOs via major governance platforms. It also offers an API for developers to integrate private features like sealed-bid auctions or fair gaming into their applications. A major long-term objective is the integration of Shutter into the Ethereum mainnet. The project has outlined a roadmap for implementing encrypted mempools within the Proposer-Builder Separation (PBS) framework, aiming to protect the entire Ethereum transaction supply chain from manipulation.