• Lens Chain goes live on mainnet.

• Hyperlane introduces HYPER.

• SEC issues statement on stablecoins.

Lens Chain, a SocialFi Layer 2 built on ZKsync’s ZK Stack, is now live on mainnet. Over 650,000 user profiles and 125GB of protocol data was successfully migrated from Polygon PoS to the new elastic chain with no manual migration required for users. Lens Chain uses ZKsync for low-cost transactions, Aave’s GHO stablecoin for gas fee payments, and Avail’s data availability layer. With this launch, Lens introduces Lens V3, the latest version of its protocol. Lens V3 brings a modular architecture featuring an onchain Rules Engine, interoperability, and account abstraction. The rollout also includes Grove, a decentralized storage system. Initial apps on Lens Chain include Orb, Hey, Bonsai, and Tape. Users can bridge to Lens Chain via Across.

Interchain messaging protocol Hyperlane introduced HYPER, its native token used for staking, governance, and network security. The token is set to launch during the week of April 20, 2025, with a total supply of 1 billion tokens. As part of the launch, 7.5% of the total supply will be distributed through an initial airdrop, known as the Expansion Drop, to early users of the network. Users must complete a preclaim process by April 13, 2025, to receive the airdrop. Those eligible include users of applications and chains utilizing Warp Routes, protocols that integrated Hyperlane’s General Message Passing (GMP), and chains that have adopted Hyperlane as their canonical bridge. Hyperlane aims to serve as a permissionless standard for blockchain interoperability.

The SEC released a staff statement clarifying that "covered stablecoins" are not securities under the Securities Act. Covered stablecoins are crypto assets pegged 1:1 to the USD, redeemable on demand in unlimited amounts, and backed by low-risk liquid assets like U.S. Treasuries or cash equivalents. They are designed for payments, money transmission, and storing value, but not investment. The guidance allows issuers to mint and redeem covered stablecoins without registering with the SEC. However, the guidance does not apply to algorithmic stablecoins, stablecoins pegged to non-USD assets, or yield-bearing stablecoins.

• Across supports Lens Chain

• Beam Call #3 recap

• Fountain blog platform on Lens

• Mass liquidity mining program

• Infected leaves Base

• ENS joins Project Liberty Alliance

See disclosures

• Pectra hardfork set for May 7th.

• Tim Beiko proposes an ACD call restructuring.

• Morpho Labs introduces Prime.

• WisdomTree brings its RWA platform onchain.

Ethereum core developers have set a high confidence date for Pectra hardfork to go live on Ethereum mainnet for Wednesday, May 7, 2025, at 10:05 UTC. Client teams will release updated client versions by April 21st. Pectra will bring 11 EIPs to Ethereum, including Account Abstraction EIP-7702, max effective balance EIP-7251, execution layer-triggerable withdrawals EIP-7002, and a 50% blob capacity increase.

Ethereum core developer Tim Beiko proposed a restructuring of the AllCoreDevs (ACD) call format to improve coordination, planning, and stakeholder involvement across Ethereum’s development process. The proposal introduces two distinct call types: ACD{E|C} calls, which would focus on planning and scoping future forks, and ACD Testing calls, which would handle the implementation of the current fork. The separation is intended to support both short-term and long-term roadmap planning while maintaining Ethereum’s core governance values. Beiko also suggests that each network upgrade should have a clearly defined “headline feature” to guide priorities and resource allocation. A review and feedback period will take place leading up to the Pectra mainnet launch, after which core developers and client teams will decide whether to adopt the new structure beginning with the Glamsterdam fork.

Morpho Labs introduced Morpho Prime, a new product suite designed for vault curators and advanced users. Morpho Prime provides tools to help curators efficiently manage and operate vaults. It features the Curator App for managing Morpho Vaults across multiple chains, and the Rewards App for creating custom reward programs. The Rewards App also allows recipients to discover and track available reward opportunities. Both applications are no-code solutions, lowering the barrier to entry for curators and reward program managers. Morpho is a core infrastructure layer for lending applications in DeFi and holds over $2.7 billion in deposits.

Global asset manager WisdomTree deployed its institutional real-world assets platform, WisdomTree Connect on Ethereum, Arbitrum, Avalanche, Base, and Optimism. Users can now access 13 tokenized real-world asset (RWA) funds onchain ranging from money market, equities, fixed income, and asset allocation. Among the offerings are WTGXX, the Government Money Market Digital Fund; SPXUX, the 500 Digital Equity Index Fund; and TECHX, the Technology and Innovation 100 Digital Fund. The platform enables stablecoin issuers and DAOs to mint, subscribe, or redeem digital funds using USDC, with tokenized assets held in self-custodial wallets.

• Bonsai introduces Smart Media Protocol

• Velodrome deploys on Celo L2

• Succint releases 2FA for SP1

• Lighthouse thoughts on Fulu

• Protocol Research Call #1 Highlights

• Fabric call #3 wrap-up

• stHYPE AMM goes live

• Optimism distributes retro funding

• TreasureDAO pivots

• eBTC live on Aave

• MegaETH testnet update

See disclosures

• Privacy Pools live on Ethereum mainnet.

• Superseed deploys its L2 on mainnet.

• Chainlink launches Payment Abstraction.

• Circle introduces USDCKit.

Privacy Pools, an onchain privacy protocol, is now live on Ethereum mainnet. Users can now deposit between 0.1 and 1 ETH. The protocol requires all deposits to pass a wallet screening process before they become eligible for private withdrawal. If a deposit fails the screening, users can still withdraw their funds back to the original wallet. Privacy Pools use zero-knowledge proofs and ensures that deposit and withdrawal addresses are unlinked. Privacy Pools supports configurable privacy sets, allowing users to preserve privacy while preventing association with known malicious addresses. The release is currently in a beta phase.

Superseed, a DeFi-focused Layer 2 built on the OP Stack, is now live on mainnet. Users can now interact with core infrastructure and use DeFi applications on the network, including Velodrome, SeedFi, Orange Finance, Bebop, Ionic, and Dolomite. In the coming weeks, Superseed plans to launch its Seeds rewards program. Superseed introduces SuperCDP, a native collateralized debt position system designed to offer interest-free, self-repaying loans using assets like ETH, WBTC, and the Superseed token as collateral to mint and borrow the Superseed stablecoin. The system will be powered by protocol revenue streams such as sequencer profits.

Chainlink launched Payment Abstraction on Ethereum mainnet, a new cross-chain system that allows users to pay for Chainlink services using ETH or alternative tokens. The payments are automatically converted into LINK using a combination of Chainlink Automation, Price Feeds, CCIP, and Uniswap V3. The feature aims to reduce payment friction for Chainlink Network users. Payment Abstraction is also implemented into to Chainlink SVR, an Oracle MEV recapture solution recently integrated with Aave. Payment Abstraction will allows Chainlink Decentralized Oracle Network (DON) node operators to consolidate LINK rewards on Ethereum, with initial support for CCIP node operators.

Circle introduced USDCKit, a new SDK designed to streamline USDC payment integration and automation for developers. It offers tools for automating wallet creation, payouts, settlements, compliance, and cross-chain transfers. Now available in early access, USDCKit will expand support for swaps and on/off ramps.

• Samczsun: North Korean threat

• Toni: Expanding Mempool Perspectives

• Circle introduces USDC kit

• ByteGaze tool to visualize ABI data

• Farcaster introduces tips

• Coinbase vs FDIC updates

• UST0 goes live on Unichain

• Paths to SSF revisited

• Upcoming Liquity V2 forks

See disclosures