Lens Introduces Lens Network

• Lens introduces Lens Network.

• Dutch judges convict Alexey Pertsev.

• Safe Wallet launches native swaps.

• Liquity releases its V2 whitepaper.

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Lens Protocol, an open social-graph platform, introduced Lens Network, an EVM-compatible Validium chain built on zkSync’s ZK Stack. The network will launch in three phases, transitioning from Validium to Volition. Phase 1 establishes the Validium chain. Phase 2 introduces separate public and private Validium chains, using a data availability provider for public data and a self-secured data system for private transactions, verified using ZK proofs. Phase 3 combines ZK rollup and Validium solutions for enhanced security and user control. Validium enables ultra-low-cost transactions with offchain data availability, while Volition supports both onchain and offchain data availability at the transaction level. Lens Network will process financial transactions in ZK Rollup mode and social transactions in Validium mode. A Lens Improvement Proposal for Lens Network is currently up for community discussion.

Alexey Pertsev, a developer who helped write open-source code for Tornado Cash, was convicted of money laundering by Dutch judges and sentenced to 64 months in prison. Having already spent 8 months in jail awaiting trial, the time will count towards his sentence. The court also seized Pertsev’s personal car and crypto assets. The judges failed to understand the workings of immutable smart contracts and accused Pertsev of failing to prevent the privacy tool's use in criminal activities. Eléonore Blanc, an educator monitoring the trial, noted that the judge fully agreed with the prosecution. Even more baffling, the judge claimed Tornado Cash has no legitimate use.

Safe, the leading smart contract wallet, launched Native Swaps, a new feature that allows users to swap tokens directly within their Safe Wallet. The integration leverages CoW Protocol's intent-based mechanism. The swapping experience offers users MEV protection and human-readable transaction details. Native Swaps are now live on Ethereum mainnet and Gnosis Chain.

CDP-based borrowing protocol Liquity released its V2 whitepaper, unveiling a new iteration that introduces support for multi-collateral positions. Users will be able to mint a new stablecoin called BOLD against various collateral types, including liquid staking tokens. The V2 release also features user-set interest rates, protocol-incentivized liquidity, and interest rate delegation. Liquity will continue to operate without governance.

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