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News Roundup - March 5, 2024

Snapshot introduces Boost rewards. Fraxtal’s native bridge goes live on mainnet.

Quick Take

  • Snapshot introduces Boost rewards.

  • Fraxtal’s native bridge goes live.

  • Fluidkey introduces the Stealth Account Kit.

  • Astar Network launches the Astar zkEVM.

Snapshot Introduces Boost Rewards

Snapshot, an offchain governance voting platform, introduced Boost, a new feature that allows DAOs to incentivize voting participation by rewarding voters with ERC-20 tokens. The feature allows DAOs to select a token and amount for the voter rewards, choose between lottery or proportional distribution mechanisms, and define eligibility parameters. DAOs can also customize winning prababliities and set caps for an upper limit for large token holders. Boost is currently available in a private beta release for select DAOs. Snapshot hopes that the new feature will help address voter apathy in cases where only a small subset of token holders vote on DAO proposals.

Fraxtal Bridge Goes Live

The Fraxtal native bridge is now live on mainnet, enabling deposits of ETH, CRV, sfxETH, and various tokens from the Frax ecosystem directly to Fraxtal. As a Layer 2 network built on the OP Stack, Fraxtal introduces a novel incentive mechanism called Flox, rewarding users and developers with FXTL points based on their gas spend. Frax Finance is also offering FXTL point rewards for FXS stakers. Fraxtal is also part of Optimism’s Superchain collective, supporting shared upgrades and a commitment to public goods funding. Frax Ether (frxETH) serves as the rollup’s native gas token. Fraxtal currently holds just over $1 million in frxETH deposits.

Fluidkey Introduces Stealth Account Kit

Transaction privacy tooling provider Fluidkey introduced the Stealth Account Kit, an open-source TypeScript library that offers the essential cryptographic functions for generating and recovering Fluidkey stealth accounts. The release aims to promote the development of privacy-focused applications. The library is influenced by Umbra.js, viem, and Safe. The library's functionalities cover generating private keypairs from signatures, extracting and generating private viewing keys, creating stealth addresses, and predicting stealth Safe addresses. Fluidkey automatically directs payments sent to a private ENS to a new address that only the user can control. Users can currently sign up for a waitlist to use the privacy tool.

Astar Network Launches Astar zkEVM

Astar Network launched its Astar zkEVM on mainnet, built on the Polygon CDK and integrated with the AggLayer. The implementation enables Astar to access unified liquidity across ZK-powered chains on Polygon through a single bridge. The rollup was built in collaboration with automation infrastructure provider Gelato Network.

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