Cover photo

Worldcoin Introduces World Chain

A new L2 network built on the OP Stack that prioritizes World ID users.

Quick Take

  • Worldcoin introduces World Chain.

  • Socket introduces the Chain Abstraction Protocol.

  • Arbitrum Foundation Grants Phase 3.

  • StakeWise to deploy V3 on Gnosis Chain.

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Worldcoin Introduces World Chain

Worldcoin, the digital identity network founded by OpenAI's Sam Altman, introduced World Chain, a new L2 network built on the OP Stack that prioritizes human users. The network will give priority block space to wallet addresses that are verified through World ID's Proof of Personhood credentials, aiming to reduce spam and bot activity. Currently, the Worldcoin protocol operates on OP mainnet and has a global user base of 10 million, with 5 million of those users having already verified their identities using an Orb. According to the project, Worldcoin users account for 44% of the activity on OP mainnet. The launch of the new L2 network is scheduled for this summer and will include a gas allowance for World ID-verified users.

Socket Chain Abstraction Protocol

Socket, a liquidity aggregation layer, re-introduced itself as the chain abstraction protocol, a new architecture that features Modular Orderflow Actions (MOFA), an auction-based system where execution agents, like sequencers, validators, market-makers, solvers, and keepers, compete to execute user requests. The new approach reduces the need for users to bridge by allowing them to cover execution costs on their preferred chain while an execution agent carries out the request on the target chain. The design aims to address liquidity fragmentation and a worsening user experience caused by the increasing number of modular chains.

Arbitrum Foundation Grants Phase 3

The Arbitrum Foundation is now accepting applications for the third phase of its grant program, open to teams developing on Arbitrum One, Nova, Orbit, or Stylus. This phase excludes infrastructure, education, events, and community projects. Grants range from an average of $10,000 to $150,000 in ARB tokens, disbursed based on the achievement of KPI-based milestones. Phase three includes five grant tracks: the Growth Track for projects on Arbitrum testnet, the Advanced Growth Track for projects on Arbitrum mainnet, a Multichain Growth Track for applications launched on other mainnets, along with tracks for Orbit and Stylus projects. The application period closes in late June, and grants are awarded on a rolling basis, with final decisions made by the Arbitrum Foundation.

StakeWise V3 To Deploy On Gnosis Chain

Liquid staking protocol StakeWise announced plans to launch the third iteration of its protocol on Gnosis Chain. The release will help expand the GNO node operator set and stake all unbonded GNO. It will also feature new functionalities for staking withdrawals, liquid solo staking, and aims to restore the sGNO and rGNO peg. Currently, StakeWise's deployment on Gnosis Chain holds 36% of all staked GNO with a TVL of approximately $24 million.

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