Nil Foundation launched a customized zkOracle circuit for Lido and received funding from the Lido ecosystem

ChainCatcher news, ZK technology developer Nil Foundation announced that the zkOracle circuit built using zkLLVM has been approved for development funding from the Lido ecosystem. The zkOracle circuit, customized according to Lido's requirements, can automatically execute trustless access to historical data within the Ethereum EVM, providing zk-based trustless validity checks for Lido's accounting reports, and improving the stETH reward and issuance mechanisms.

According to the introduction, the rewards for Lido staking users are distributed to stETH holders based on regular accounting reports, which reportedly contain information such as the total locked value of the collateral, the number of active/exiting validators, withdrawal and reward balances, etc. If the accounting report (or its validation) is compromised, the reward process will also be affected. Therefore, the report must be as secure as possible, and the zkOracle based on zkLLVM can achieve trustless verification of key parts of the report.