Borderless Private USDC

Knowable is working on a reference implementation of Borderless Private USDC. I will edit this post to give more information, just posting early to give people a place to discuss!

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MVP is improving, I managed to send USDC from Base to Namada!
Is it possible to send it directly to the shielded pool?

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nice! initially we think the user will have to shield after receiving to a tnam. my understanding is that Heliax will make direct znam deposits possible :fire:

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This is an important and valuable direction for the ecosystem.
Privacy-preserving stablecoin transfers, such as Borderless Private USDC, can greatly enhance user trust and practical adoption while maintaining compliance with modern privacy principles.

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we are actively testing this :warning: alpha :warning: version of our Borderless “showcase” app: https://usdc-mockup.netlify.app/

currently:

  • deposits/payments must be greater than or equal to 1 USDC
    • but please don’t risk large amounts!
  • only evm chain support (soon Solana)
  • user must shield after depositing USDC to Namada (will be solved by “memoless” znam deposits)
  • gasless (pay for gas with USDC) transactions should be reintegrated soon

we’d be grateful for any testing and feedback! :folded_hands:

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My USDC transfer to ETH is stuck at the “Forwarding to Ethereum via CCTP” stagе…

I believe it’s because I sent less than $1. Poor man’s filter :grinning_face: I wonder what this restriction is related to.

I’ll add my thoughts on the app interface. The design is awesome, no doubt about it! There are a few things that could be improved, IMHO:

  1. Split the wallet connection button into two: EVM and Namada. When connecting, show the truncated address so the user can see what’s connected without any extra steps.
  2. The Deposit - Send switch is hard to read. Maybe it should be made with a border (like the buttons at the top) and the indentation to the title should be increased.
  3. When sending USDC, it would be cool to immediately take the commission into account when I press MAX, because now the current balance is substituted without taking the commission into account. I’m sure there just wasn’t enough time to implement this yet.
  4. When switching between Deposit and Send modes, USDC Balances on Namada is not updated; you need to click the Shielded Sync button. For example, I sent USDC, the balance changed in the Send tab, I switched to the Deposit tab, and there was the old balance, before sending.

When I try to deposit USDC, I get this error (only on the Ethereum network),
and the “Pay gas fees with USDC” checkbox cannot be turned off once enabled.

Otherwise, it’s a great app. I’m sure you need to add integration with Arbitrum (PERP-dexs users will really appreciate it).:rocket:

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Another idea for an additional feature is the ability to exchange a certain amount of USDC for ETH for gas directly in the app after Send. If I withdraw to a clean wallet, I immediately get the opportunity to use it with a gas token.

P.S. When connecting, the application attempts to add (or starts with such settings) the Sepolia test network. I believe this may raise unnecessary questions among users in production. See pic.

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I don’t quite understand what I’m doing wrong here…

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Excellent feedback, tysm!

You’re probably not doing anything wrong, I think the gasless feature is still pretty buggy and needs some more work to get it to a useable state.

Agree on your UI improvements, we did some brainstorming today on how to update the interface, which takes most of your suggestions into account, including changing how the fees are displayed to make things more clear. Also really like your idea to have the option to seed a new address with some gas token on sends.

Appreciate you taking the time to help test things! :folded_hands:

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When attempting to connect via MetaMask, the Sepolia testnet network cannot be used - the app connects only to the Ethereum mainnet, requiring real tokens and network resources.
For testing purposes, it would be preferable to support connection and transactions on the Sepolia testnet first, before moving to the mainnet environment.

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@spork.Knowable does it make sense to have a separate testnet version running?

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hey @Quantum-Crypt, thanks for taking a look!

your request makes sense, but we’re focused on building a new version of the Borderless showcase app, so we’re not going to redeploy the testnet one until we launch the new version

Thanks, @Gavin. I’ll wait for the new Borderless version and will test it once it’s available.