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Ethereum Follow Protocol public testnet.
Aave proposes a GHO integration with BlackRock BUILD.
CFTC enforcement action against Uniswap.
EF plans to release a financial report.
The Ethereum Follow Protocol, a wallet-to-wallet social graph for Ethereum, is now live on testnet and open to all users. The release allows users to sign in with their Ethereum wallet to follow others, block wallets, and check their leaderboard rank. EFP enables users to create and manage follow lists through EFP List NFTs. The protocol integrates data from ENS records, displaying profile information such as profile picture, bio, and social links. Users can also import follow lists from Farcaster and Lens Protocol. The beta release aims to stress test the protocol, and actions taken during the beta will not carry over to the mainnet. Users can also claim an EFP Beta Tester POAP NFT for using the protocol.
A temperature check vote is now live in the Aave DAO for the proposed deployment of a GHO Stability Module (GSM) integrated with BlackRock’s BUIDL fund. The proposal aims to generate additional yield on GHO reserves by reallocating surplus USDC from idle GHO pairings into BlackRock's BUILD, a tokenized fund offering onchain access to U.S. Treasury bills. With over $500 million in issuance, BlackRock's BUIDL fund would expand the Aave DAO’s yield sources into real-world assets. The proposed GSM would facilitate 1:1 swaps between USDC and GHO, using the surplus USDC to mint BUIDL tokens. Voting for the proposal concludes on Monday, September 8th.
Coin Center noted that the CFTC’s recent action against Uniswap Labs, over enabling users to trade leveraged tokens, fails to provide clear guidance or establish a legal precedent regarding which activities trigger regulatory obligations under the Commodity Exchange Act (CEA). Coin Center says it leaves developers uncertain about how to comply with the law. The case raises concerns about potential violations of free speech, as recent enforcement actions have targeted developers for the actions of third parties using their code or front-end interfaces. Uniswap Labs settled the case by paying a $175,000 fine. However, Coin Center pointed out that similar actions against Opyn, 0x, and Deridex did not clarify the CFTC’s regulatory authority.
EF to release a financial report
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