Safe launches Safenet Beta.
x402 Foundation under Linux.
OpenCover Covered Vaults.
Circle announces cirBTC.
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Listen to this episode from Ethereum News on Spotify. Safe launches Safenet Beta. x402 Foundation moves under the Linux Foundation. OpenCover introduces Covered Vaults. And Circle announces cirBTC. Read more: https://ethdaily.io/917 Sponsor: Lido Earn lets you deploy ETH or stablecoins into curated DeFi strategies for optimised yield.
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Safe launched Safenet Beta, a decentralized transaction security network designed to protect Safe account activity by enforcing security checks before transactions are executed. Safenet works through a network of validators that evaluate proposed transactions against predefined security rules. If a transaction passes, validators issue onchain attestations, which are verified before execution. Transactions that fail the checks are blocked unless users explicitly override them. The system replaces centralized warning tools with protocol-level security enforcement. The beta launch includes six initial validators, such as Gnosis, Safe Labs, and Blockchain Capital, along with features like basic attack protection, a staking interface, and a public attestation explorer. The launch also evolves the SAFE token into a network security asset, allowing validators and delegators to stake SAFE and earn rewards.
Coinbase announced that the x402 Foundation, an initiative to establish the x402 protocol as a universal standard for AI-driven payments, is moving under the Linux Foundation. The shift is intended to ensure vendor-neutral, community-governed oversight of the protocol, with backing from major tech companies including Cloudflare and Stripe. The foundation, established in September 2025, supports x402, an open protocol launched in May 2025 that builds on the HTTP 402 "Payment Required" status code to enable a native payment layer for the web. It facilitates instant, primarily stablecoin-based transactions, along with deferred settlement capabilities.
OpenCover introduced Covered Vaults, a new product for vault-native risk transfer, enabling insurance for vault deposits. It allows users to protect their positions against technical or economic risks by paying a flexible, usage-based premium, without committing to fixed terms. The solution is built on the underwriting infrastructure of Nexus Mutual. Covered Vaults integrates with DeFi protocols like Morpho and Kiln. Users who deposit into existing ERC-4626 vaults can stake their vault shares into Covered Vaults to activate protection. Coverage can be disabled at any time. Initial vaults will be available on Base and OP Mainnet.
Circle unveiled cirBTC, its own version of wrapped Bitcoin backed 1:1 by BTC. The token will initially launch on Ethereum and Circle's Layer-1 blockchain Arc, with plans for multichain support in the future. Circle says cirBTC will be integrated with USDC and Circle Payments. The launch rivals with Coinbase, which introduced its wrapped Bitcoin, cbBTC, in 2024. Skepticism remains around centralized wrapped tokens due to potential censorship risks, as highlighted by USDC, which can be frozen at any time.
Other News
Paragraph launches publish.new
Obol Q1 ecosystem report
Vyper to be formally verified
Geth Keeper performance
Shape takes protocol guild pledge
IMF journal on tokenization
Vitalik on self-sovereign LLM setup
Coinbase conditional OCC charter approval
OpenCover covered vaults
Venice supports x402
OpenAI acquires TBPN
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