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SAFE Token Transferability Governance Vote

If passed, SAFE tokens will be transferable starting Tuesday, April 23, 2024

Quick Take

  • Vote to enable SAFE token transferability.

  • SEC solicits public comment on ETH ETFs.

  • Ethereum researcher releases EIP-7623 analysis.

  • OpenZeppelin Defender supports Holesky.

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SAFE Transferability Governance Vote

A proposal to make the SAFE governance token transferable is now live on Snapshot. If passed, SAFE tokens will be transferable starting Tuesday, April 23, 2024. SAFE was initially launched as a non-transferable token in September 2022. A prior attempt to enable transferability failed in November 2022 primarily due to uncertainties regarding its purpose and functionality. The latest proposal follows the achievement of all predetermined milestones, such as the ratification of the constitution, establishment of a governance framework, and approval of a token utility proposal. Two other SafeDAO proposals are also live for voting, including the proposed appointment of Karpatkey as the treasury manager. Voting concludes on April 14th.

SEC Request For Comment On ETH ETFs

The SEC published a notice detailing a proposal to list and trade the Grayscale Ethereum Trust as an exchange-traded product (ETP). The document covers the procedural milestones necessary to initiate trading, including the initial proposal, a period for public comments, the SEC's review process, and a subsequent amendment. The SEC is currently accepting public comments on various Ethereum ETF applications. The SEC has a decision deadline on May 23rd for VanEck's Ethereum ETF proposal. Other asset management firms such as Fidelity, BlackRock, and Bitwise also have Ethereum ETF proposal deadlines in the coming months.

EIP-7623 Increase Calldata Cost

Ethereum researcher Toni Wahrstätter released a study on EIP-7623, a proposal seeking to raise the gas cost for calldata in Ethereum transactions used for data availability purposes. By setting a baseline gas price of 48 for non-zero bytes and 12 for zero bytes within calldata, EIP-7623 aims to reduce the maximum block size from 3.5 MiB to approximately 1.9 MiB. Wahrstätter's research highlights a decreasing trend in Execution Layer (EL) payload sizes, indicating that the existing maximum block capacity is higher than necessary. The study observes that the average block size has quadrupled following the implementation of EIP-4844, jumping from an earlier average of 125 KiB. EIP-7623 aims to close the gap between the potential maximum and the average block size on the network.

OpenZeppelin Defender Supports Holesky

OpenZeppelin’s Defender security platform now supports contracts on the Holesky testnet. OpenZeppelin Defender allows developers to integrate security tools, smart contract operations, and automate actions directly within their applications. The platform safeguards deployed contracts against known risk parameters and features a Code Inspector that automatically identifies and flags vulnerabilities.

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