Aave Deploys GHO On Base
The GHO stablecoin is now available natively on Base as part of Aave’s cross-chain strategy.
Aave launches GHO on Base.
Viem v2.23 release.
Holonym acquires Gitcoin Passport
EIP: Increase Gas Utilization Target
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Aave launched its GHO stablecoin natively on Base, enabling users to lend and borrow the dollar-pegged asset. The initial Aave supply cap for GHO is set at 2.5 million, with a borrow cap of 2.25 million. The Aave Chan Initiative (ACI) serves as the Emissions Manager, overseeing rewards and incentives for the stablecoin. The deployment aligns with Aave’s cross-chain strategy, using Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to facilitate a lock/burn and release/mint transfer mechanism for GHO. By integrating with existing DeFi protocols on Base, the initiative aims to improve GHO accessibility, liquidity, and adoption. Native GHO is already available on Ethereum Mainnet and Arbitrum One.
Wevm released Viem 2.23, an updated version of its TypeScript interface for Ethereum. The update introduces the simulateCalls action, enabling batch simulation of transactions and contract interactions. Developers can now preview asset changes, gas usage, execution status, and logs before executing transactions. The update significantly improves transaction simulation, debugging, and smart contract testing. As a modern alternative to frameworks like Ethers.js and web3.js, Viem emphasizes stability, developer experience, reduced bundle size, and high performance. It is widely used by developers to simplify complex transaction workflows.
Holonym acquired Gitcoin Passport, the proof-of-personhood and Sybil resistance tool originally developed within Gitcoin. Gitcoin Passport has now been rebranded as Human Passport and will be integrated into Holonym’s human.tech identity suite, enhancing its ZK credentials. The upgrade enables selective disclosure, privacy-preserving verification, and secure credential issuance through the Human Network. The Human Network is an Actively Validated Service (AVS) built on EigenLayer and Symbiotic, securing programmable keys for managing ZK credentials with unlinkability and Sybil resistance. It ensures privacy-preserving identity proofs, preventing traceability while maintaining verifiable authentication.
Ethereum developers introduced a new EIP to increase the network’s gas utilization target from 50% to 75% of the block gas limit. The goal is to boost network throughput without raising the gas limit while maintaining protection against Denial of Service (DoS) attacks. The proposal is backward-compatible and does not increase the network’s worst-case load. Vitalik Buterin commented on the proposal, emphasizing that state growth remains the primary constraint on block size. He also warned that the change could degrade user experience (UX) due to a reduced percent of instant transaction inclusions.
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Frax Launches frxUSD Stablecoin
A stablecoin backed by tokenized U.S. Treasuries from asset managers BlackRock and Superstate.
Frax launches frxUSD & sfrxUSD.
Blockscout smart contracts features.
WalletConnect's first governance proposal.
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Frax Finance launched frxUSD and savings yield sfrxUSD stablecoins on mainnet. The frxUSD stablecoin is backed by tokenized U.S. Treasuries from asset managers BlackRock and Superstate. The legacy FRAX stablecoin will remain functional and can be upgraded to frxUSD at a 1:1 ratio at any time via the Frax front end. Users can stake frxUSD to receive sfrxUSD, a stablecoin designed to offer risk-adjusted savings yield in DeFi. sfrxUSD’s yield strategy integrates treasury yield, CDP lending yield, and carry trade yield. In the coming days, Frax will expand frxUSD to multiple chains, including Ink, Movement, and Sonic.
Blockscout released a revamped user interface along with new features for enhanced smart contract interactions. The update improves codebase navigation, allowing users to seamlessly switch between contract code, compiler details, ABI, and bytecode. The release also consolidates read and write functions into a single list. Additionally, Blockscout now supports custom ABI uploads for more structured interactions. Developers can also submit security audit reports for public verification and open contract code directly in Remix for editing. Users can query data or execute transactions by connecting their wallets to the explorer.
The WalletConnect Network introduced its first governance proposal seeking to replace the previously proposed dual-council structure with a single UX Council. Originally, WalletConnect suggested separate Technical and Partnerships Councils, but the new UX Council will serve as the primary governance body. The UX Council will oversee technical advancements, user experience, and community alignment. Holders of staked WCT (stWCT) tokens can now vote on the Snapshot proposal until February 14, 2025. If approved, a nomination process will follow for electing council members. WalletConnect has powered over 150 million wallet connections across 40,000 apps and 600 wallets.
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Pectra Upgrade Scheduled For Testnets
Holešky and Sepolia are scheduled to undergo the upgrade on February 24th and March 5th, respectively.
Pectra upgrade scheduled for testnets.
XMTP goes live on testnet.
Alexey Pertsev granted conditional release.
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Ethereum core developers have scheduled slots for the Pectra upgrade on the Sepolia and Holešky testnets. The activation will first occur on Holešky at slot 3,710,976, expected on Monday, February 24, 2025, at 21:55 UTC. Sepolia’s activation will follow a week later on March 5, 2025. The Ethereum mainnet activation date for Pectra will be decided after the ACDC call on March 6, 2025. The upgrade, which consists of the Prague upgrade on the execution layer and the Electra upgrade on the consensus layer, marks Ethereum’s largest upgrade by the number of EIPs. Among the 11 scheduled EIPs, Pectra will introduce a 2x increase in the target and max blob count per block, along with account abstraction EIP-7702.
XMTP, an open protocol for secure end-to-end encrypted messaging, is now live on testnet. It enables millisecond message delivery via an offchain broadcast network, with consensus maintained by an Arbitrum Orbit chain that settles on Base. XMTP also uses USDC as the native gas token for all transactions on the network. Designed for secure, private, and censorship-resistant communication, XMTP supports a decentralized messaging ecosystem. Leading providers such as Coinbase Wallet, Circle, ENS, a16z Crypto, Alchemy, Faction, and Mask are leveraging XMTP. Node operators can contribute to the network by running an XMTP node.
Alexey Pertsev, a developer who helped write open-source code for Tornado Cash, announced his release from pretrial detention as he prepares to appeal his money laundering conviction. His release is subject to electronic monitoring by Dutch authorities. Pertsev has already spent over a year in custody. In May 2024, Dutch judges sentenced Pertsev to 64 months in prison and initially denied his request for bail.
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