Quick Take
EF Open Intents Framework.
Bitwise donates $100k to Ethereum development.
The SEC dismisses its dealer rule.
Privacy Pools initiates its ZK Circuit Ceremony.
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EF Open Intents Framework
The Ethereum Foundation launched the Open Intents Framework, a modular stack designed to standardize intents and enhance the cross-chain user experience on Ethereum. Intents are signed constraints that allow users to outsource their orders to a network of independent fillers. Intents enable fast and frictionless asset transfers, enabling a unified experience across chains. The framework provides developers with modular components like solving and settlement, enabling them to build custom intent-based applications. Key features of the Open Intents Framework include a suite of composable smart contracts, a production-ready implementation of ERC-7683, and an open-source solver application. The framework is a community-driven effort supported by over 30 teams, including Arbitrum, Optimism, Scroll, Polygon, ZKsync, Gnosis, and Namechain.
Bitwise Donates $100k To Protocol Guild
Bitwise donated $100,000 to the Protocol Guild and the Proposer Builder Separation (PBS) Foundation, marking its first annual contribution for 2024. The donation follows a commitment made last year by both VanEck and Bitwise to allocate 10% of their profits from their Ethereum ETFs to support Ethereum development over the next decade. The Bitwise ETHW ETF was launched on the NYSE Arca in July 2024, offering investors a way to invest in Ethereum without having to own the asset directly. The fund currently holds more than 100,000 Ether. The Protocol Guild is a collective comprised of over 150 Ethereum core contributors.
SEC Dismisses Dealer Rule
The SEC voluntarily withdrew its appeal against a lawsuit concerning the dealer rule, initially brought by the Crypto Freedom Alliance of Texas and the Blockchain Association. A Texas court had previously sided with the Blockchain Association in November, which argued that the rule unfairly targeted entities in the DeFi markets. Introduced last year, the dealer rule aimed to extend broker regulatory requirements to DeFi protocols. However, the rule was deemed unenforceable by the court. The SEC's decision to step back today represents a significant victory for DeFi, following a series of challenges under the previous administration.
Privacy Pools ZK Circuit Ceremony
Privacy Pools, a tool designed to facilitate anonymous transfers, initiated its ZK circuit ceremony. The ceremony is open for 9 days and invites participants to contribute signatures to the protocol’s trusted setup, To participate, individuals must have a GitHub account. Privacy Pools enables users to deposit ETH into a smart contract and withdraw it later using a zero-knowledge proof, which keeps the deposit and withdrawal addresses unlinked. Privacy Pools offers configurable privacy sets, allowing users to avoid association with known bad addresses during withdrawals.
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