# MakerDAO $1 Billion RWA Competition *The competition is open to all RWA issuers, aiming to diversify MakerDAO reserves into U.S. treasuries.* By [ETH Daily](https://ethdaily.io) · 2024-07-12 news, 2024, july2024 --- Quick Take ---------- * MakerDAO $1b RWA competition. * Dutch court denies bail for Pertsev. * U.S. judge delays Tornado Cash trial. * Opposition to EOF in Pectra. * * * [ MakerDAO $1 Billion RWA Competition ----------------------------------- Listen to this episode from Ethereum News on Spotify. MakerDAO launches a $1 billion RWA competition. A Dutch court denies bail for Alexey Pertsev. A U.S. judge grants the delay of the Tornado Cash trial. And a core developer expresses opposition to EOF in Pectra. https://spotify.com ![](https://storage.googleapis.com/papyrus_images/469f2a648223078d7e39d458cd8cd5e6.jpg) ](https://open.spotify.com/episode/22dtPd2QRLeBPGd7LA59ZP) **Listen on:** [**Apple**](https://apple.co/3C3VWuL) | [**Spotify**](https://spoti.fi/407DJV5) | [**Castbox**](https://bit.ly/3C1jNuY) | [**YouTube**](https://bit.ly/40nD43d)  * * * **MakerDAO $1 Billion RWA Competition** --------------------------------------- MakerDAO [launched](https://forum.makerdao.com/t/announcement-spark-tokenization-grand-prix-request-for-proposal/24631) the Spark Tokenization Grand Prix, a competition aiming to allocate $1 billion worth of reserves toward tokenized real-world assets. The competition is open to all RWA issuers. Superstate and Ondo Finance have already [expressed](https://x.com/OndoFinance/status/1811807971825045765) their intent to apply. The initiative is part of a reserve diversification effort, kicking off MakerDAO's Endgame, a protocol overhaul designed to expand the DAI stablecoin into RWA products. Applications to the program open on August 12th and will be judged by a panel of advisory companies, including Phoenix Labs, GFX Labs, and Steakhouse, with the final winners being voted on by MakerDAO governance. **Dutch Court Denies Bail For Pertsev** --------------------------------------- Alexey Pertsev, a developer who helped write open-source code for Tornado Cash, has been [denied bail](https://www.dlnews.com/articles/regulation/dutch-court-rejects-bail-for-tornado-cash-dev-alexey-pertsev/) and will have to remain in Dutch custody as he prepares his defense for the appeal of his money laundering conviction. In May, Dutch judges sentenced Pertsev to 64 months in prison. Pertsev has already spent ten months in jail. He was first arrested on August 10, 2022, released on bail on April 20, 2023, and detained again on May 14, 2024. According to DL News, Pertsev’s lawyer requested for him to have access to a computer and internet to be able to prepare his defense, but the request was denied by the judge. **Judge Delays Tornado Cash Trial** ----------------------------------- U.S. District Court Judge Katherine Polk Failla [granted](https://www.therage.co/roman-storm-judge-grants-delay-of-tornado-cash-trial/) a delay in the prosecution of Tornado Cash developer Roman Storm. The extension was granted during a hearing at the U.S. District Court in the Southern District of New York, which met to discuss Storm's motion to dismiss the case. A trial was initially set to begin this September. Storm’s legal team had [requested](https://storage.courtlistener.com/recap/gov.uscourts.nysd.604937/gov.uscourts.nysd.604937.64.0.pdf?ref=therage.co) a continuation of the trial until early 2025. The trial will now take place in December. In August 2023, Storm was indicted on charges of money laundering, sanctions violations, and operating an unlicensed money-transmitting business. During today’s hearing, Judge Failla compared Tornado Cash to WhatsApp, questioning prosecutors why WhatsApp is not charged for criminal activity conducted by users on its encrypted messaging application, and whether the same logic should apply to Tornado Cash. [![](https://storage.googleapis.com/papyrus_images/a1ed07a95f98ed5bf35c00c9259e0e2a.png)](https://apple.co/4gM0Prg) **Critiques Against EOF In Pectra** ----------------------------------- Ethereum core developer Marius Van Der Wijden [expressed](https://mariusvanderwijden.github.io/blog/2024/07/12/EOF/) opposition to including EVM Object Format (EOF) in the upcoming Pectra upgrade. In a recent blog post, he highlights that EOF would introduce complexity as it adds 19 new opcodes and removes 16 existing ones. Wijden also raised concerns about insufficient impact analysis and security assessments. Wijden says that EOF offers only marginal benefits and suggests focusing on more groundbreaking upgrades like Verkle instead. The Pectra upgrade, set to be one of Ethereum's most extensive updates, features 19 planned EIPs and is expected to launch in the first quarter of 2025. **Other News** -------------- * Devcon speaker [applications](https://devcon.org/en/speaker-applications/) * Relay [introduces](https://x.com/RelayProtocol/status/1811814387612798993) Chain Pages * Tornado Cash [case analysis](https://x.com/valkenburgh/status/1811754342040338703) * ETHGlobal x Ethereum Film [early access](https://x.com/ETHGlobal/status/1811704808354853374) * OpenSea [supports](https://x.com/opensea/status/1811847221324943608) Coinbase Wallet * [Pre-register](https://x.com/boxdomains/status/1811871208746754124) .super and .chain domains * ATT [data breach](https://x.com/tayvano_/status/1811799717141197139) * * * **Follow us on** [**X**](https://bit.ly/4gJwvhe)**,** [**Lens**](https://bit.ly/4fUi4FE)**, and** [**Farcaster**](https://bit.ly/3Pqbyfd)**.** --- *Originally published on [ETH Daily](https://ethdaily.io/505)*