Euler V2 Goes Live On Base
Euler V2 features governed and ungoverned vaults, leveraged positions, carry trade strategies, and single-click execution workflows.
Euler V2 goes live on Base.
Liquity V2 will launch in January.
Coinbase secures a writ of mandamus.
Ethereum X account is active again.
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Euler V2, the latest iteration of the lending protocol, is now live on Base, featuring ERC-4626-compatible governed and ungoverned vaults. Governed Vaults offer dynamic functionality, allowing DAOs, risk teams, or individuals to manage key parameters such as loan-to-value ratios, supply caps, and interest rate models in real-time. In contrast, Ungoverned Vaults are immutable, providing a fixed, stable configuration once deployed. Euler V2 supports leveraged positions, carry trade strategies and single-click execution workflows. The release follows the earlier pause of Euler V1 after a $200 million flash loan attack in 2022, from which the majority of funds were successfully recovered. Since its launch in September 2024, Euler V2 has achieved over $130 million TVL on Ethereum. Euler V2 on Base supports 11 initial assets and has already surpassed ~$5 million in TVL.
Decentralized borrowing protocol Liquity announced plans to launch its V2 release by the end of January 2025. Liquity V2 introduces user-set interest rates and multiple collateral support, including rETH and wstETH. It also introduces BOLD, its new yield-bearing stablecoin that will coexist alongside the existing LUSD stablecoin. Users will be able to stake BOLD for additional rewards. Liquity V2 also features Protocol Incentivized Liquidity (PIL), which allows LQTY stakers to direct subsidies from protocol interest revenue while still earning fees and rewards. Like Liquity V1, Liquity V2 will remain governance-minimized and immutable.
In a significant legal victory, the Third Circuit Court of Appeals granted Coinbase its petition for a writ of mandamus against the SEC, compelling the SEC to provide a more reasoned explanation for its denial of Coinbase's rulemaking petition. The court criticized the SEC’s handling of Coinbase’s rulemaking petition. Coinbase’s original petition, submitted in July 2022, sought much-needed regulatory clarity regarding the application of existing securities laws to the digital asset sector. Frustrated by the SEC’s prolonged inaction, Coinbase later sued the agency for failing to fulfill its legal duty to respond to rulemaking petitions within a reasonable timeframe. The court also expressed serious constitutional concerns about the SEC’s reliance on retroactive enforcement without first establishing clear guidance.
The official Ethereum X account made its first post in two years. The post comes as the Ethereum Foundation created its own dedicated X account, announcing that the general Ethereum account will now serve as an active platform for sharing updates from across the Ethereum ecosystem. Posts from the general Ethereum account will also be cross-posted on Lens, Farcaster, and Bluesky. Meanwhile, the Ethereum Foundation's separate account will focus exclusively on foundation-related updates, including news from EF teams, grants, and treasury activities.
Hsiao-Wei Wang joins EF leadership
Veil supports sharable links
Eigen Protocol Cohort is live
Superposition mainnet alpha launch
Megaeth gets a new domain
Obol announces a snapshot
Derive announces launch program
Trump executive orders on crypto
Sparklend market upgrades
Preconfirmations explainer
$420m liquidated from crypto market
USD0++ Devalues Amid Redemption Change
The drop follows Usual Protocol's announcement introducing a new redemption floor of 0.87 USD0 per USD0++
The USD0++ token devalues amid a redemption change.
CFPB proposes rulemaking for crypto wallets.
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USD0++, a liquid derivative of USD0 that earns yield, has devalued from its long-standing $1 price. The drop follows Usual Protocol's announcement introducing a new redemption floor of 0.87 USD0 per USD0++, assigning its value akin to a zero-coupon bond with a four-year maturity. The change replaces the previous 1:1 redemption option. Usual Protocol allows users to stake USD0, its dollar-pegged stablecoin backed by treasury assets, to mint USD0++, a token that earns rewards in $USUAL tokens over a four-year lock-up. Following the announcement, significant holders, including Gauntlet, began exiting their USD0++ positions. The price of USD0++ reached a new low of about $0.91. Next week, users will be able to redeem USD0++ for USD0 at the 1:1 rate, but this requires forfeiting accrued rewards.
The Consumer Financial Protection Bureau (CFPB) proposed new rulemaking to extend the Electronic Fund Transfer Act (EFTA) to include cryptocurrency wallets. Under the proposal, wallet providers would be held responsible for unauthorized transactions, including those resulting from fraud, theft, hacking, or leaked credentials. The proposal does not clarify on whether it applies exclusively to custodial wallets managed by third parties or also includes self-custody wallets controlled directly by users. In response, Coin Center released an analysis highlighting concerns about the rule’s constitutional implications, its vagueness, and its potential overreach. Public comments on the proposed rulemaking are being accepted until March 2025.
Pectra on mainnet anticipated in March
EIGEN town hall on 16th January
Veil supports Coinbase Verification
USDC goes live on Sonic
Last Network acquires Astaria
Graph launches Geo browser
CoW AMM Goes Live On Base
Anyone can deploy pools on Base using the CoW AMM pool creator.
The CoW AMM goes live on Base.
Vote to deploy Arbitrum BoLD on mainnet.
Core devs name the Gloas CL upgrade.
Boost launches Boost V2.
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CoW Protocol deployed its MEV-Capturing CoW AMM on Base, protecting liquidity providers from losses due to MEV attacks such as Loss Versus Rebalancing (LVR). LVR is the largest source of MEV, even bigger than frontrunning and sandwich attacks combined. Anyone can deploy pools on Base using the CoW AMM pool creator. The CoW AMM uses batch auctions to auction the right to rebalance the pool at the correct market price, with the amount paid by the winning solver being distributed to the pool's liquidity providers. It ensures that the total value of a pool’s reserves remains balanced. CoW AMM is optimal for pools that trade between non-stable token pairs.
A proposal by the Arbitrum DAO to transition Arbitrum One and Arbitrum Nova to the Arbitrum Bounded Liquidity Delay (BoLD) dispute resolution protocol is now open for voting. BoLD introduces faster and more reliable dispute resolutions, fixed delays for assertion confirmations, enhanced censorship resistance, and improved security. The upgrade will enable interactive fraud proofs and allow permissionless validation on Arbitrum One. The milestone will also secure green status for Arbitrum's State Validation slice on L2Beat’s Risk Rosette framework, signaling progress toward achieving Stage 2 rollup status. Voting for the proposal ends on January 23, 2025.
Ethereum core developers have chosen "Gloas" as the name for the consensus layer upgrade after Fulu. For Ethereum upgrade names, execution layer upgrades are named after Ethereum event host cities, while consensus layer upgrades are named after stars. A version of the two names is then combined for coupled upgrades. Currently, core developers are focused on finalizing devnets for Pecta before moving on to testnet forks. The subsequent upgrade, Fusaka, which combines Fulu and Osaka, is planned after Pecta. EIP-7773 is the Meta EIP assigned for the Gloas/Amsterdam upgrade outlining EIPs for inclusion and the overall fork scope.
Boost, a token incentive distribution platform, has launched Boost V2, introducing features like dynamic rewards, pegged incentives, and budget accounts. The update also extends functionality, allowing users to incentivize nearly any action on any smart contract by specifying a contract address, function, or event signature. With dynamic rewards, creators can offer larger incentives to their most active users. Pegged incentives tie reward amounts to fixed USD or ETH values, reducing exposure to token price volatility.
ElizaOS goes live on Arbitrum
25% of validators signal gas increase
Introduction to Chain Abstraction
Silo deploys on Sonic
L2Beat changes TVL to TVS
OP S7 election voting goes live
Coinbase subpoenaed by CFTC