Quick Take
Taiko introduces its Raiko multi-prover.
The U.S. Senate repeals SAB 121.
PoolTogether launches on Base.
Base Onchain Summer Buildathon.
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Taiko Introduces Raiko Multi-Prover
Taiko, an EVM-equivalent ZK-Rollup, introduced Raiko, a new multi-prover supporting SP1, Risc0, and SGX processors. The block prover simplifies Zero-Knowledge (ZK) and Trusted Execution Environment (TEE) guest program compilation, block input formation, execution, benchmarking, and monitoring. A multi-prover system strengthens network security by reducing the vulnerability of a single point of failure. Taiko is building a Type 1 ZK-EVM, prioritizing full EVM-equivalence over ZK-proof generation speed. With the continued development of Raiko, Taiko aims to achieve real-time proving of blocks and support for multichain block proofs.
U.S. Senate Repeals SAB 121
The U.S. Senate voted 60-38 to repeal SEC Staff Accounting Bulletin (SAB) 121, which provides accounting guidance requiring custodians to treat the crypto assets they hold as their own for accounting purposes. The rule requires that custodians of crypto assets, including banks, maintain significant reserves to offset the crypto assets. The rule would notably impact crypto ETF products, which derive their value from the underlying crypto assets. The repeal of SAB-121 is now in the hands of President Biden, who can either sign the repeal or side with the SEC and veto it. The Biden administration previously announced its intention to deny the repeal.
PoolTogether Launches On Base
Prize savings protocol PoolTogether is now live on Base mainnet. Users can now deposit USDC, wstETH, cbETH, AERO, and POOL tokens into a savings account for a chance to win a share of daily prizes. The protocol uses deposits to earn a yield on protocols like Aave. The interest earned from user deposits is then raffled to depositors with winning chances weighted by their average deposit size. PoolTogether is also live on Ethereum and OP Mainnet. The protocol released its V5 iteration in October, which eliminated the need for manual prize claims and introduced support for prize vaults backed by ERC-4626 compatible tokens. PoolTogether is currently offering boosted prizes for Base prize vaults over the next 30 days.
Onchain Summer Buildathon
Base announced the Onchain Summer Buildathon, a global online hackathon offering 200 ETH in prizes for Base builders. The hackathon starts on May 31st and ends on June 30th, with winners announced on July 16th. The event features eight tracks: payments, discovery, creator, social, gaming, commerce, unplugged, and trading. Each track offers 20 ETH in prizes, with an additional 40 ETH bonus pool for projects using Coinbase tools. Builders can get started by creating their profile on Devfolio.
