• Balancer V3 goes live on mainnet.

• Treasure launches its L2 on mainnet.

• AaveDAO approves PYUSD incentives.

• Frax Finance releases its roadmap.

Balancer V3, the latest iteration of the DEX featuring a new AMM and boosted pool architecture, is now live on Ethereum and Gnosis Chain. Balancer V3 introduces several innovations, including a transient accounting system via EIP-1153, re-entrant pool lifecycle hooks, native yield-bearing token support, fully boosted pools, and a flexible router design. Balancer V3 shifts core functions such as token management, fees, rate scaling, and liquidity operations, from the pool contracts into a unified vault contract. The unification ensures that all pools adhere to the same standards, maintaining consistent pool states across the protocol. Developers can now create custom pools and users can access boosted liquidity pools on Balancer V3.

Treasure, a gaming-focused rollup coined as the decentralized game console, is now live on mainnet. Treasure is built as an Elastic Chain on the ZK Stack, featuring a seamless UX, sponsored transactions, and access to unified accounts. Users can now bridge their assets from Ethereum and Arbitrum to Treasure. MAGIC, Treasure's native token, will be used for fee payments and underpinning the network’s economic security. Treasure is hosting a 2-week campaign featuring NFT mints from Treasure games and over 69,420 MAGIC in prizes to commemorate the launch. Treasure was previously the largest gaming ecosystem on Arbitrum.

The AaveDAO approved an incentive program for PayPal's PYUSD stablecoin. Eligible users will be able to earn an additional 4% APY rewards rate on PYUSD held on Aave v3 on Ethereum. The program also includes co-incentives on PYUSD and GHO liquidity. PYUSD is a dollar-denominated stablecoin backed by dollar deposits and short-term U.S. Treasuries and is issued by Paxos, a trust company under the regulatory oversight of the New York State Department of Financial Services. According to data from Coingecko, PYUSD's market cap stands at approximately $540 million.

• Frax Vision roadmap

• Aragon shares modular thesis

• Base gas target is now 18 Mgas/s

• Tips for changing gas limit

• Sprinter acquired project Blanc

• Farcaster adds threads

• Eco launches Routes

• Solo introduces Solo Chain

• Extended perps launch

• Fuel introduces its FUEL token.

• Synthetix acquires the TLX protocol.

• Superstate introduces mint and redeem.

• Spark deploys $100m in liquidity on Base.

Fuel, an Ethereum Layer 2 Optimistic Rollup, introduced FUEL, its native ERC-20 token on Ethereum. FUEL secures the network’s decentralized sequencer and eliminates user gas fees via an Application Specific Sequencing model. Leveraging Tendermint-based Proof-of-Stake, FUEL decentralizes sequencing, allowing users to earn staking rewards for securing the network. With a total supply of 10 billion tokens, 20% is allocated to the Fuel community, including early participants in the Fuel Points Program. The launch of $FUEL is anticipated within two weeks. Fuel’s parallel transaction execution engine delivers high throughput and scalability, while its architecture allows anyone to operate nodes using consumer-grade hardware.

Synthetix successfully acquired TLX, a leveraged token protocol, at an implied valuation of $4 million. The acquisition is part of Synthetix’s strategy to expand into structured vault products. TLX token holders can convert their tokens into SNX at an 18:1 ratio, subject to a vesting period. It marks Synthetix’s second acquisition and its first directly owned, revenue-generating consumer product. The TLX governance council will dissolve, with responsibilities transitioning to the Spartan Council, while the TLX treasury will be merged into Synthetix’s treasury. Synthetix plans to audit TLX products, optimize implementation parameters, and prepare for deployment on Base. A leveraged token incentive program will also be launched in early 2025.

Superstate, a Real World Assets protocol, introduced new functionality for minting and redeeming USTB, its tokenized treasury fund. Investors can now mint USTB using USDC in a single transaction or redeem USTB for USDC instantly. While there are no limits on minting, redemption liquidity is initially capped at $10 million. The upgrade builds on Superstate’s previous Continuous Pricing feature, which calculates USTB’s price continuously, updating every second. To support the functionality, the protocol leverages a custom onchain oracle that continuously updates USTB’s Net Asset Value per Share (NAV/S), enhancing DeFi composability. The USTB fund has close to $100 million in TVL.

• ACDC #147 agenda 

• Spark deployed $100m in liquidity to Base

• EigenLayer user testing program

• Optimism releases RF6 results

• Coinbase Diamond integrates Chainlink

• Arbitrum Stylus Sprint ends soon

• DWF launches $20m AI fund

• Wintermute seeks FLUID loan

• ENS reimbursement of eth.limo

• eric.eth’s structure for EF/community

• Ethereum researchers advise a gradual gas limit increase.

• Ethena's USDe overtakes USDS by market cap.

• Daimo introduces Daimo Pay.

• Coinbase to evaluate Celo hard fork support.

Ethereum researcher Toni Wahrstätter shared insights on the potential implications of significantly increasing Ethereum's block gas limit. While some community members have advocated for raising the limit from its current 30 million to as high as 60 million, Wahrstätter noted that rapid increases beyond 36 million gas could lead to unintended consequences and network instability. Wahrstätter suggested deferring substantial gas limit increases until after the Pectra hardfork, which is expected to provide critical enhancements and empirical data needed to determine future gas limit increases. Increasing the gas limit does not require a hard fork. Validators can simply adjust their node configurations to implement the change.

Ethena’s yield-bearing stablecoin, USDe, has surpassed MakerDAO’s USDS stablecoin in market capitalization. USDe now holds a market cap of about $5.5 billion, surpassing USDS at $5.2 billion. The overtake follows MakerDAO's controversial rebranding to Sky. USDe is an overcollateralized stablecoin backed by BTC, staked ETH, and hedged positions in derivatives markets. Ethena markets USDe as an "Internet Bond," designed to emulate U.S. treasury bonds in the digital economy. USDe has become the third-largest stablecoin by market cap, following USDC in second place and Tether in first.

Daimo, a fiat-to-crypto onramp provider, introduced Daimo Pay, a new solution for single-click crypto payments using any token across almost any chain. With Daimo Pay, projects like ethOS can accept payments in any cryptocurrency and seamlessly convert them into fiat dollars deposited directly into a bank account. Both the contracts and SDK for Daimo Pay are open-source and publicly accessible. Since its beta launch, Daimo Pay has facilitated over $2 million in transaction volume. Developers can now integrate cross-chain, cross-token payment functionality into their applications, offering users a seamless experience by abstracting the complexities of bridging.

Coinbase announced that it will evaluate its decision to support Celo's upcoming hard fork, which marks the network's transition to an OP Stack Layer 2. Earlier this month, Coinbase faced criticism for announcing it would not support the hard fork, urging users to withdraw their Celo tokens to avoid losing access to their funds. The Celo hard fork has also been postponed from January to a later date in 2025.

• Protocol Guild proposal for Linea

• Coinbase restricting accounts

• Movement launches MOVE

• ZKsync proposal republished for ZIP-001

• Radiant capital incident update

• $1.5b liquidated in 24hrs

• QuickNode supports WorldChain