Quick Take

• Voting opens for the ZKsync Ignite proposal.

• Arbitrum concludes its Security Council elections.

• Lido introduces the stETH in DeFi hub.

Voting Opens For ZKsync Ignite

Onchain voting is now open for the first ZKsync governance proposal, titled "ZKsync Ignite." The proposal aims to allocate 300 million ZK tokens as incentives over nine months on ZKsync Era. Submitted by rewards platform Merkl, the initiative seeks to enhance DeFi liquidity and increase TVL on ZKsync Era and across Elastic Chains. The total allocation for the program includes 325 million ZK tokens, with 25 million designated for administrative expenses. Merkl is set to manage the program, handling website operations, reward distribution, and technical support. A DeFi Steering Committee (DSC) would oversee token allocations and assess the program's performance. Voting on the proposal ends on November 12, 2024.

Arbitrum Security Council Election Results 

Arbitrum concluded elections for the rotation of six members of the 12-member Arbitrum Security Council. The new members are Dennison Bertram of Tally, Griff Green of Giveth, Emiliano Bonassi of Conduit, Gzeon of Offchain Labs, and Immunefi. John Morrow of Gauntlet was also re-elected for another term. The Security Council is tasked with making expedited protocol upgrades during emergency situations. Upgrades executed by the security council do not need approval from the Arbitrum DAO but are subject to a short delay period. The council can also make non-emergency upgrades. Six members are rotated every six months.

Lido Introduces stETH DeFi Hub

Lido launched the stETH in DeFi hub, a new dashboard that consolidates yield opportunities for using stETH across the DeFi ecosystem. The hub brings together protocols that support stETH into a single, user-friendly interface, allowing users to easily view protocol TVLs, supported assets, APRs, and available rewards. The dashboard highlights a range of DeFi options, including lending and borrowing protocols like Aave, diversified rewards protocols like Stakehouse, restaking protocols like Renzo, and leveraged staking protocols. As the DeFi space expands, Lido plans to maintain the dashboard to include new stETH use cases.

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