FIDD is live on Ethereum.
Payy Network private L2.
ENS App Alpha release.
Giveth recovers 57 ETH.
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Listen to this episode from Ethereum News on Spotify. Fidelity launches its stablecoin on Ethereum. Payy introduces its private L2 network. ENS releases an alpha version of the ENS App on testnet. And Giveth recovers 57 ETH from TheDAO. Read more: https://ethdaily.io/876 Sponsor: Arkiv is an Ethereum-aligned data layer for Web3.
](https://open.spotify.com/episode/4Ef0IartstE0Wvmjc37GLL)
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Fidelity Digital Assets launched its Fidelity Digital Dollar on Ethereum, a U.S. dollar–pegged stablecoin, redeemable 1:1 for USD through Fidelity platforms. FIDD already has a market cap of $60 million. The stablecoin targets both retail and institutional investors.
Payy, a stablecoin-focused protocol, introduced Payy Network, a privacy-first, EVM-compatible L2 built for stablecoin payments. Payy Network enables private ERC-20 transfers by default, with no changes required to existing wallets or smart contracts. It leverages chain-native privacy pools that hold ERC-20 tokens, allowing transfers to occur privately within the pool. Privacy Vaults manage the transaction data offchain. Payy Network also supports stealth transactions, where one-time addresses ensure the sender and receiver remain unlinked. Payy Network uses a native ZK precompile, enabling low-cost, high-performance privacy apps. Payy Network is currently live in mainnet beta.
ENS launched the ENS App Alpha release on the Sepolia testnet, a redesign of its web app for registering and managing ENS domain names. The alpha focuses on simplifying the registration experience while remaining self-custodial. It is built on ENSv2, a major upgrade that brings a new registry, new smart contracts, new applications, and the Namechain L2. The new app replaces the previous multi-transaction registration process with a streamlined one-step flow. Users can sign up for Telegram and email notifications for name expiration reminders, sign in using Web2 login methods, and pay with stablecoins. Swaps and cross-chain interactions are abstracted. Existing users used the dashboard to manage names, explore new ENS use cases, and share feedback with ENS.
Cap, an Ethereum stablecoin protocol, announced its Stabledrop for early users, allocating $12 million in cUSD to approximately 19,000 participants of its Frontier program, which helped bootstrap its insured yield product. Cap is currently running its Homestead campaign, which continues to issue points, while details around the Stabledrop claim process will be announced separately. Cap allows users to mint its cUSD stablecoin using USDC and USDT as collateral.
Giveth, a platform for funding public goods, has successfully recovered 57.8 ETH, worth $123,000, that had been sitting in an insecure TheDAO smart contract for the past 10 years. The recovery was carried out by Sam, Jordi Baylina, and Griff Green. The unclaimed ETH will be donated to the TheDAO Security Fund, a new collective dedicated to supporting Ethereum security initiatives.
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