Quick Take
Core devs determine the scope for Pectra.
Synthetix proposes a protocol referendum.
Ethena introduces the UStb stablecoin.
Polygon PoS activates Ahmedabad upgrade.
Developers Determine Pectra Scope
During this week's ACDE call, core developers determined the scope for the upcoming Pectra hard fork. They decided to keep the scope strictly to that of Devnet 3, which currently includes eight EIPs. EIP-7742 and EIP-7762 are still under consideration for Pectra. All other EIPs that were CFI’d for Pectra have been removed. The excluded EIPs will now be CFI’d for the Fusaka hard fork, the next upgrade following Pectra. Fusaka’s inclusion list includes EOF and PeerDAS. The other EIPs will remain under consideration and will only be added to Fusaka once EOF and PeerDAS are stable on devnet. Notably, Verkle, which was initially planned for Fusaka, has now been pushed to the Amsterdam hard fork.
Synthetix Proposes A Referendum
Synthetix governance introduced its first Synthetix Referendum (SR) proposal, SR-2, which aims to overhaul the current governance framework, reboot the project's vision, and establish a comprehensive 2025 roadmap. The proposal focuses on improving accountability and launching the Synthetix Foundation, with the ultimate goal of restoring Synthetix's relevance in the DeFi ecosystem. Key elements of the overhaul include replacing the existing governance structure with a new seven-member Spartan Council. The near-term roadmap outlines initiatives such as redesigning SNX tokenomics, operationalizing SNaXchain, and deploying Synthetix Perps V3 on Ethereum Mainnet and Solana. SR-2 is currently under discussion in the Synthetix Discord.
Ethena Introduces UStb Stablecoin
Ethena Labs, in collaboration with Securitize, introduced UStb, a new stablecoin backed by tokenized U.S. Treasuries through BlackRock’s BUIDL Fund. The BUIDL Fund is a tokenized asset fund on Ethereum that offers accredited investors onchain access to U.S. Treasuries. Ethena is a decentralized stablecoin protocol known for its synthetic USDe stablecoin, which is backed by assets like stETH and delta-neutral positions in derivatives markets. UStb and USDe will operate as independent products, each with their own distinct risk profile. Currently, USDe, has a market cap of $2.5 billion, while BlackRock’s BUIDL Fund manages over $500 million in assets.
Polygon PoS Undergoes Ahmedabad Upgrade
Polygon PoS underwent the Ahmedabad upgrade. The minor upgrade increased the maximum code size from 24KB to 32KB, allowing for more complex smart contract deployments. It also addressed issues related to gas pricing. It also changed token symbol on Polygon PoS from MATIC to POL, and WMATIC to WPOL.
Other News
