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EIP-3074 Added To Pectra

The standard enables new capabilities for EOAs, such as batch transactions.

Quick Take

  • EIP-3074 added to the Pectra upgrade.

  • Six new AVSs go live on EigenLayer.

  • ERC-7683 cross-chain intents standard.

  • Chainlink CCIP supports native ETH transfers.

EIP-3074 Added To Pectra

Ethereum core developers agreed to add EIP-3074 to Ethereum's upcoming Pectra upgrade. EIP-3074 introduces the AUTH and AUTHCALL opcodes, allowing Externally Owned Accounts (EOAs) to delegate their control to a smart contract. It enables new capabilities for EOAs, such as batch transactions and sponsored transactions. With EIP-3074, transactions like approving and swapping can be batched together, enhancing the user experience. Core developers also agreed to add EIP-2935, which aims to store historical block hashes in a contract. Last month, Max EB EIP-7251 was added to Pectra. In total, seven EIPs are slated for inclusion in the Pectra upgrade so far.

Six AVSs Go Live On EigenLayer

EigenLayer announced six new Actively Validated Services (AVSs) that are live on mainnet. The new AVSs include AltLayer’s MACH rollups, Brevis' Coprocessor, Eoracle's Ethereum native oracle, Lagrange's State Committee, Witness Chain's DePIN Coordination Layer, and XterioGames MACH restaked rollup. Operators on EigenLayer can now secure the new AVSs, although the mechanisms for rewards and penalties are not yet live. Restakers have the option to delegate their stakes to operators who secure the new services. AVSs are networks that are underpinned by the economic security provided by EigenLayer restakers.

ERC-7683 Cross-Chain Intents Standard

Uniswap, in partnership with Across Protocol, has proposed a new ERC standard for cross-chain intents. The standard is designed to enable fillers from various systems that adopt the standard to participate and fulfill intents, making the process more efficient. It aims to provide users with faster execution and lower fees. Uniswap plans to integrate the ERC into its UniswapX intent-based trading protocol. Intents are signed constraints that allow users to outsource their orders to a network of independent fillers. The fillers not only compete to fulfill orders but also manage order routing and handle the native gas fees with different destination chains. The ERC, assigned as ERC-7683, is open for feedback.

CCIP Supports Native ETH Transfers

Chainlink's Cross-Chain Interoperability Protocol (CCIP) now supports the transfer of native Ethereum (ETH) across Ethereum, Arbitrum, and Optimism. CCIP facilitates three token transfer mechanisms, including burn and mint, lock and mint, and lock and unlock. Native ETH transfers use the lock and unlock mechanism. The process involves wrapping ETH into WETH, locking it, and then unlocking an equal amount of WETH on the destination network where it can be unwrapped back into ETH. Bridging ETH through CCIP incurs a percentage-based fee, which is part of a new pricing strategy aiming to capture higher transaction volume.

Circle Supports BUIDL To USDC

Circle launched a new smart contract functionality that enables holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to convert their shares into USDC. The update is designed to provide BUIDL investors with a fast and low-cost method for exchanging their shares. The BUIDL Fund, which is a tokenized fund on Ethereum, provides accredited investors access to USD yields.

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