Quick Take
Zora announces $ZORA token.
The EF appoints co-Executive Directors.
Nethermind supports history expiry.
Celo announces its L2 launch date.
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Zora Announces $ZORA Token On Base
NFT creation platform Zora announced plans for its upcoming ZORA token, anticipated to launch on Base in Q2 2025. The token will have a total supply of 10 billion, with 10% allocated for a retroactive airdrop. An initial snapshot for the airdrop was taken on March 3rd, and another is scheduled just before the token's launch. The distribution of ZORA tokens includes 20% for community incentives, 20% for a community treasury, 5% for liquidity, and the remaining 45% for the Zora team and contributors. The ZORA token is a memecoin and will not hold governance rights or ownership in Zora products. Zora has facilitated over $376 million in secondary sales volume and generated over $27 million in creator rewards.
EF Appoints Co-Executive Directors
The Ethereum Foundation changed its leadership structure, transitioning from a single Executive Director role, previously held by Aya Miyaguchi, to dual Executive Director roles. The new co-Executive Directors are Hsiao-Wei Wang, a former Ethereum research lead, and Tomasz Stańczak, the CEO of Nethermind, a key Ethereum execution layer client. Together, Hsiao-Wei and Tomasz are set to lead the Ethereum Foundation in fostering the growth of the ecosystem while upholding Ethereum values. Meanwhile, Danny Ryan, a former researcher who was highly sought by the community to be the next Executive Director, has joined Etherealize as a co-founder to grow Ethereum's institutional adoption.
Nethermind Supports History Expiry
Nethermind released history expiry support on its execution layer client in the 1.31.* releases. The feature allows for the deletion of historical, pre-merge data via ERA files. A consensus among all clients is required to activate the change. All client teams have agreed to remove pre-merge history from full nodes on May 1st. Currently, over 80% of the disk space in Ethereum full nodes is estimated to be occupied by redundant historical data that is not required to validate new blocks. Implementing history expiry will significantly reduce the storage requirements for full nodes, freeing up to 320 GB of disk space and allowing a full node to operate on less than 200 GB.
Celo L2 Mainnet Activation Date
Celo announced the mainnet activation date of its migration from an EVM-compatible Layer 1 to an OP Stack Layer 2 network, scheduled for March 26th at 3 AM UTC. The upgrade to Celo L2 reduces the block times from 5 seconds to just 1 second, enabling faster transactions for users. The migration also preserves historical transactions from its Layer 1 network. Full nodes on the Celo network are required to upgrade to the new Layer 2 client.
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