Quick Take
Polygon plans MATIC to POL migration.
Optimism opens Security Council nominations.
Nethermind releases Sedge v1.14
Self-built blocks increase base gas volatility.
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Polygon Plans POL Upgrade In September
Polygon announced that it will upgrade the staking contract for the Polygon PoS network on September 4th, changing the primary staking and gas token from MATIC to POL at a 1:1 ratio. POL is a new hyperproductive token that will enable validators to validate multiple ZK chains The POL upgrade has already been deployed on testnet. The migration is part of Polygon’s 2.0 roadmap, which transitions the PoS Chain into Polygon ZK-EVM as part of the AggLayer. In subsequent upgrades, POL will be used to support roles in block generation, data availability, and ZKP generation. No action is required from MATIC holders on Polygon PoS, however, MATIC holders on other chains may need to take action for the migration.
Optimism Security Council Elections
Nominations are open for Cohort A of the Optimism Security Council. The council consists of 13 members split into two cohorts with staggered elections. Seven member roles and a council lead are currently up for election. Anyone can self-nominate by posting their application in the Optimism governance forum by August 14th. Elections will be held from August 22nd to 28th, with new members starting their 12-month term on February 9th. The Security Council manages upgrade keys for OP Stack chains on the Superchain, requiring 75% of members to sign to execute emergency protocol upgrades. The elections follow Optimism's recent advancement to a Stage 1 rollup with the activation fraud proofs.
Nethermind Releases Sedge v1.4.0
Nethermind released Sedge v1.4.0, an updated version of its node and validator deployment tool. The release features keys to generate 0x01 withdrawal credentials. The release also supports the Lido Community Staking Module (CSM) and MEV-Boost on the Holesky testnet. Sedge aims to lower technical barriers for solo stakers by providing a 1-click setup tool that automatically configures the client setup process, including the installation of any dependencies. The tool supports all four execution layer and all four consensus layer Ethereum clients.
Self-Built Blocks Increase Gas Volatility
Blockchain infrastructure provider Blocknative reported that self-built blocks, which contain only public transactions, have unexpectedly increased base fee volatility. Blocknative says the reason is due to the rise of private transactions and timing games in MEV-Boost auctions. Self-built blocks utilize only 18.2% of gas space, while blocks with private transactions use 97.6%. The inefficient gas space utilization unintentionally leads to gas volatility, impacting the effectiveness of self-built blocks.
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