Quick Take
Ethereum EL client diversity improves.
OP Stack supports Circle’s bridged USDC standard.
Superchain generates 14,000 ETH in revenue.
Basenames surpass 200k registrations.
Ethereum Client Diversity Improves
Vitalik Buterin highlighted that no execution client holds more than two-thirds of the market share, marking a significant improvement in client diversity for the network. Geth had previously dominated as the supermajority execution layer client with over 70% market share earlier this year. Its market share has dropped to less than 60%. The improvement follows a series of client transitions by major staking providers, including Coinbase Cloud and Allnodes. A critical bug in a client with over two-thirds market share could potentially lead to a network split. Ethereum's multi-client architecture serves to mitigate the risks associated with relying on a single client.
OP Stack Supports Bridged USDC Standard
The OP Stack now supports Circle's Bridged USDC Standard, enabling OP Stack chains to implement an upgradeable version of bridged USDC using the canonical OP Stack bridge. The standard allows for a seamless transition to native USDC in the future, without requiring any code changes, if Circle chooses to deploy it. The Bridged USDC Standard tackles the issue of fragmented USDC versions across different chains. Typically, new chains establish stablecoin liquidity before a native version is introduced. The integration reduces liquidity fragmentation by eliminating the need for users to migrate their bridged USDC to native USDC once it goes live.
Superchain Generates 14,000 ETH In Revenue
The Optimism Collective has generated over 14,000 ETH in revenue from OP Stack chains of the Superchain as part of its sequencer revenue-sharing model. Each chain in the Superchain is required to contribute the greater of either 15% of gross profits or 2.5% of total sequencer revenue to the Optimism Collective. In exchange, members of the Superchain gain access to shared upgrades, collective governance, and retractive funding grants for their ecosystems. Superchain members will also benefit from Optimism's upcoming native interoperability architecture. There are currently 17 OP Stack chains that are part of the Superchain.
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