• Phala launches its OP Succinct L2.

• Derive unveils an AI-powered terminal.

• Revolut becomes a Pyth data publisher.

• Aave celebrates five years.

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Phala Network launched its OP Succinct L2 network on Ethereum using Conduit’s Rollup-as-a-Service platform. Coined Phala 2.0, the network combines optimistic and ZK rollup properties, with Ethereum serving as its settlement and data availability layer. OP Succinct enables sub-cent transaction fees, fast finality, and reduced proving times. It also minimizes the seven-day withdrawal delay to just minutes. Phala Network provides cryptographic computing and Trusted Execution Environment (TEE) services tailored for smart contract developers. By handling all hardware-related complexities, Phala allows developers to focus on deploying AI-ready infrastructure and AI agents.

Derive, formerly known as Lyra Finance, unveiled Derive Pro, an AI-powered trading terminal designed to enhance the crypto trading experience. Developed in collaboration with Messari, the platform integrates an AI copilot to simplify trading for users. Derive Pro leverages Messari's inference API to provide real-time news updates. The terminal features custom AI models capable of translating market views into executable trades, offering tailored strategies for spot, perpetuals, and options trading. It also supports single-click, gasless transactions through smart accounts, and added support for L2 networks. Derive Pro is set to launch in Q1 2025.

Revolut, a global digital banking provider, partnered with Pyth Network as a data publisher. Leveraging Pyth's oracle technology, Revolut will share its proprietary price data, expanding its presence into the decentralized finance ecosystem. Pyth Network, which powers DeFi applications with reliable off-chain price feeds, receives data from participants like exchanges and market makers.

The Aave lending protocol celebrated its fifth anniversary today. First launched on January 8, 2020, Aave played a pivotal role in kickstarting DeFi Summer and has since become the largest DeFi protocol with over $34 billion in TVL across 11 networks, 13 markets, and a user base of 2.3 million. Aave is working toward Aave V4, expected to go live later this year.

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