EIP-7748: State Conversion To Verkle Tree
A proposal to convert account states from the current Merkle Patricia Tree (MPT) data structure to the Verkle Tree (VKT) data structure.
EIP-7748 moves to a draft phase.
Universal Protocol goes live on Base.
Syndicate introduces Metabased rollups.
Ethereum Film opens pre-sale tickets.
EIP-7748 is now in a draft phase. The proposal aims to convert account states from the current Merkle Patricia Tree (MPT) data structure to the Verkle Tree (VKT) format. The solution would convert a fixed number of key values on a per-block basis to ensure a gradual transition, minimizing the impact on network performance and ensuring the process is manageable for clients. Verkle Trees are a more efficient and scalable data structure that offers smaller proof sizes and enhances the feasibility of stateless clients on Ethereum. They are a key component of The Verge upgrade in Ethereum's roadmap to simplify block verification. The transition to Verkle Trees is anticipated to be part of the Osaka upgrade.
Universal, a wrapped asset protocol, is now live on mainnet with initial support for Base. The protocol enables the trading of wrapped versions of non-EVM assets such as SOL, DOGE, and BTC on various blockchains. By using a mint-and-burn mechanism, Universal addresses the issue of liquidity fragmentation without relying on traditional bridging mechanisms. The protocol is operated by Custodians, who custody the the underlying assets, and Merchants, who serve as liquidity providers and facilitate the minting and burning. Universal aims to replicate CEX-level performance and pricing. The mainnet launch is currently in a beta phase, accessible by invitation only. Users can join a waitlist to participate in the beta release.
Syndicate, a provider of Web3 infrastructure, introduced metabased rollups, a new blockchain scaling design aimed at boosting decentralization and economic value for community-led Layer 3 networks. The rollups execute transactions outside of Layer 1 and post the transaction data back on the base layer. The sequencing in metabased rollups is managed by a smart contract on a layer beyond the L1. Similar to based rollups, metabased rollup sequencing occurs on and relies on the liveness of the chain’s parent layer, such as the L2. The design supports flexible sequencer configurations that offer scalability, cost-effective transactions, and economic alignment with the chain’s community.
Pre-sale tickets are now available for "Vitalik: An Ethereum Story," a community-funded feature documentary that explores the creation of Ethereum, Vitalik Buterin's journey, and the global community of builders. The documentary will be available for pre-release digital screening on September 20th and will be accessible until October 20th. Its mainstream release for all viewers is planned for early 2025.
Layer N launches N-siders program
Ethernity L2 launches on testnet
Aave governance process
Announcing Gitcoin Grants 21
ZKX shuts-down
EigenLayer AVS categories
Linea Supports ENS Domains
The integration leverages CCIP Read, a standard that enables Linea to retrieve ENS domains.
Ethereum turns 9.
Linea supports ENS domains.
Compound proposes a staking product.
Movement integrates Polygon’s AggLayer.
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9 years ago today, Ethereum was launched as the first smart contract blockchain. On July 30, 2015, the Ethereum genesis block was mined into existence, referred to as the Frontier launch. Frontier, the first mainnet release of Ethereum, provided miners with a block reward of 5 ETH per block.
Linea, an EVM-equivalent ZK-rollup by Consensys, now supports ENS domain name resolution on its network. The implementation leverages EIP-3668, a standard that allows contracts to request external offchain data in a call or transaction. Known as CCIP Read, the standard enables Linea to retrieve ENS domains. Linea is the first zkEVM to implement CCIP Read. Developers on Linea can also use this standard to retrieve cross-chain data. The integration supports the use of human-readable domains across all ENS-compatible dapps on Linea and significantly reduces gas fees for managing ENS domains. To date, over 2 million domains have been registered on ENS.
Compound Protocol Head of Growth, Bryan Colligan, has proposed the launch of a new Staked Compound Product to replace Proposal 289. The new staking product will allocate 30% of market reserves to staked COMP holders in proportion to their stake, with funds sourced from fees collected through liquidity provision and borrowing. Over the weekend, an individual named Humpy approved a proposal for the transfer of 499k COMP tokens, worth $25 million, from the Compound treasury into a multi-sig wallet controlled by his team. Proposal 289 intended to use the funds to establish a yield-generating DeFi vault. The new Staked COMP product will be managed by the Compound DAO, rather than by Humpy, who has agreed to cancel Proposal 289.
Movement, a network of MoveVM-based layer-2 chains, has committed to integrate with Polygon’s AggLayer. The integration facilitates unified liquidity for MoveVM chains and bridges the Move and EVM ecosystems, enhancing interoperability. Six initial MoveVM projects will connect to the AggLayer and will leverage Celestia for data availability. Move is an alternative smart contract programming language. Movement is currently live on testnet.
Polynomial Chain integrates sUSDe
Blackbird launches a Base L3 chain
Coinbase offers zero-fee Base transfers
Uniswap x Circle research paper
Ethereum Stories short-film
Ethereum ETF dashboard
Verkle Call #22 notes
SEC enforcement against Bitclout
Compound Governance Attack
499,000 COMP tokens, worth $25 million, will be transferred from the Compound DAO Treasury into a multi-sig controlled by the Golden Boys.
Compound suffers a potential governance attack.
Maverick v2 goes live on Scroll.
Aave launches a custom Lido pool.
Base reaches a new peak in TPS activity.
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A proposal to transfer 499k COMP tokens, worth $25 million, from the Compound treasury into a third-party controlled multi-signature wallet has narrowly passed with about 51% approval. The proposal was led by Humpy, who is the leader of a gorup called the Golden Boys. As per the proposal, the tokens will be used in a DeFi vault named goldCOMP, aiming to generate yield for its depositors. The approval follows an initial failed attempt on May 6th. OpenZeppelin noted that a significant number of COMP token delegations, needed to pass the proposal, originated from recent exchange withdrawals. The approved vote not only takes substantial treasury funds but also gives the Golden Boys' significant control over COMP governance. In response, Compound governance has initiated precautionary measures, including transferring timelock admin rights and adjusting risk parameters to guard against potential governance attacks.
Maverick Protocol launched its V2 liquidity protocol on Scroll Mainnet, featuring code optimizations for gas efficiency and enhanced token rewards for stakers. The DEX supports custom liquidity ranges for tailored positioning. Maverick incorporates a Dynamic Distribution AMM that significantly improves capital efficiency. Maverick also introduces "boosted positions" that channel liquidity incentives directly to specific positions rather than distributing them across the entire pool. Users contributing liquidity on Maverick can earn Marks points from Scroll. The ZK Rollup now ranks as the 5th largest rollup by TVL, with $1.3 billion in assets.
Aave governance approved the deployment of a custom Lido stETH and wstETH pool on Aave V3, marking the first custom pool instance. The new market allows the Aave DAO to fine-tune collateralization and interest rate parameters within the isolated Lido market, accommodating for unique risk profiles. The pool supports stETH leverage loopers, e-mode, and an isolated market that minimizes cross-collateral risk from other tokens. The launch aims to increase liquidity and optimize borrowing dynamics, contributing to TVL. Lido’s liquid staking tokens currently constitute about 30% of the total Aave V3 Ethereum market. Lido plans to launch incentives for liquidity providers in the new market.
Base, the L2 rollup by Coinbase, achieved a new peak in transaction activity, averaging 50 transactions per second over the weekend. Data from Growthepie shows that Base saw over 665,000 daily active addresses on the network. Base also saw a new record of 650,000 active smart accounts over the last week. Base is the second largest rollup by TVL with $7.2 billion.
Devcon second ticket wave
Jonathan Mann sues the SEC
DEX marketshare hits ATH
Lido CSM reaches 200 nodes
U.S. Gov. moves $2b Bitcoin
Sen. Lummis Bitcoin reserve
Trump remarks on Bitcoin
Crypto becomes largest Super PAC
Liquorice raises $1.2m