• StarkWare proposes STRK staking.

• Optimism activates the Fjord upgrade.

• Safe integrates support for TWAP orders.

• CFTC Chair reaffirms ETH as a commodity.

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StarkWare proposed to launch staking for its native STRK token, introducing a permissionless staking protocol and stake delegation program. The proposal outlines an incremental rollout approach. In the initial stage, users can choose between running a full node to stake directly or delegating their stake to a staker who runs a full node. The mechanism will feature a minting curve with 1.8% to 2.5% yearly inflation, adjusting rewards based on the total STRK locked. Staking will require a 21-day lockup period for withdrawals. StarkWare plans to launch the initial stage on mainnet by Q4 2024. In subsequent stages, stakers will be responsible for securing the network by producing, attesting, and proving blocks.

The Fjord network upgrade is now live on the OP Stack, including OP Mainnet and Base. The upgrade introduces support for EIP-7212, a rollup-specific standard leveraging the secp256r1 elliptic curve for secure and efficient signature verifications, which significantly reduces gas costs for smart wallet applications. The upgrade also incorporates Brotli compression to lower data availability costs and adopts a new L1 fee cost calculation using FastLZ compression. A standard ETH transfer on Base using a smart wallet now incurs less than half the gas costs compared to before the upgrade. OP Stack node operators must update their client software.

Safe now supports tiered fees and TWAP orders on its native in-wallet swap portal. Time Weighted Average Price (TWAP) orders allow users to execute large trades gradually, minimizing price impact. The tiered fee structure offers lower fees for higher swap volumes across various token and stablecoin-only pairs, with fees ranging from 0.05% to 0.35%. The integration is powered by CoW Swap, a leading MEV-protecting DEX aggregator. Safe native swaps are available on Ethereum, Arbitrum, and Gnosis Chain.

CFTC Chairman Rostin Behnam reaffirmed that Bitcoin and Ethereum are classified as commodities. The chairman referenced a ruling by the U.S. District Court for the Northern District of Illinois, which determined that the assets are commodities under the Commodity Exchange Act (CEA). In his testimony during the Senate Committee on Appropriations, Behnam also stated that 70-80% of the cryptocurrency market consists of non-securities.

• Golang SSZ 15 library

• World Chain hits 5m verified

• EthStaker survey recap

• Crypto Market Cap chart

• Lava Network airdrop

• House overturns Biden’s SAB121 veto

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• World Chain launches its developer preview.

• Fileverse launches dDocs.

• Superfest 1.5 million OP in incentives.

• Safe launches a multi-chain gas station.

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World Chain, an identity-focused L2 network built on the OP Stack, is now open for developer preview. Developers can apply for access to start building and testing their applications on World Chain ahead of a mainnet launch. Infrastructure providers Alchemy, Elliptic, LayerZero, EAS, and Safe have integrated support for World Chain. The Worldcoin protocol, currently operating on OP Mainnet, will require its user base of 10 million to migrate to World Chain once it’s open for all. World Chain will launch as a Stage 1 rollup with fault proofs and will have a 10MGas per block target with Reth as its execution client. World ID-verified users will receive a gas allowance enabled by the chain’s account abstraction features.

Onchain file-sharing platform Fileverse launched dDocs.new, a decentralized word processor for peer-to-peer document creation and sharing. Unlike Google Docs, dDocs is privacy-preserving, featuring end-to-end encryption without requiring user accounts, although it offers social login powered by Privy. The platform incorporates ERC-4337 account abstraction, creating a Safe smart wallet for each account. Documents can be shared via links, and content is stored on IPFS, using Pinata Cloud. dDocs, which is open-source, operates entirely within the web browser, is mobile-friendly, and is compatible across devices. The initial v0.1 release includes ENS identity verification and the ability to share documents as Farcaster Frames.

SuperFest, a Superchain DeFi Festival hosted by Optimism, is now live. Users can participate in quests on OP Mainnet, Base, Mode, and Fraxtal to earn a share of 1.5 million OP rewards. The onchain event aims to highlight applications across the Superchain. Users can also claim NFT wristbands based on the chains used. Quests are accessible through a custom front-end developed by Jumper, allowing users to bridge, complete tasks, and claim OP token rewards. Participating applications include Aave, Aerodrome, Morpho, Silo, Uniswap, Kelp, Renzo, Swell, EtherFi, and Lido. The event will continue through the end of August.

Smart wallet provider Safe introduced a multi-chain gas station program that allows dapps who utilize Safe's Core SDK, API, or contracts along with the ERC-4337 module to sponsor gas fees on behalf of their users. Starting August 1st, developers can apply for gas credits, with up to $200,000 available for apps on Polygon and up to $50,000 for apps on Gnosis Chain. The implementation uses Pimlico’s ERC-4337 paymaster.

• EURC goes live on Base

• Devcon ticket sales go live

• Farcaster introduces composer actions

• ZKsync releases governance procedures

• Attestations deep dive

• MetaMask delegation toolkit

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• GOP adds crypto to its 2024 platform.

• SSV Network reaches 1 million staked ETH.

• Celo launches CEL2 on testnet.

• Asset issuers file amended S-1s.

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The Republican Party Platform officially included crypto in its 2024 policy. The policy commits to championing innovation by supporting the right to mine Bitcoin, the right to self-custody, and the freedom to transact without government control. It also opposes the current administration's crypto crackdown and the creation of a Central Bank Digital Currency (CBDC). The GOP's 2024 policy platform has been adopted by the RNC committee, making it the first American political platform to include cryptocurrency. A political party platform outlines the goals and values supported by a party, detailing its viewpoints on various individual topics.

SSV Network now secures over 1 million staked ETH, worth over $3 billion, across its distributed validator network. Since its mainnet launch in December 2023, the network has grown to over 700 node operators, including solo stakers and pooled operators like Lido and EtherFi. SSV Network only takes a 2% commission from operators. SSV Network is a permissionless staking protocol that enables anyone to run a distributed validator node. By splitting validator keys into keyshares and distributing them to multiple nodes, the network enhances Ethereum fault-tolerance and eliminates single points of failure. Stakers can optimize their setups to reduce costs.

Celo successfully launched the Dango testnet, the first implementation of its CEL2 layer 2 network built on the OP Stack. The testnet retains all historical data from Celo’s previous testnet, enabling developers to transition their projects to the new network. CEL2 uses EigenDA for data availability, aiming to offer lower transaction fees. The Dango testnet features 2-second block times, increased throughput, 1-block finality, SocialConnect, and fee abstraction with support for ERC-20 tokens as gas payments. Infrastructure providers are working to enable support for the new network. Celo plans to launch the CEL2 network to mainnet as early as Winter 2024.

VanEck and 21Shares filed amended S-1 forms earlier today, which now await feedback or approval from the SEC. The submission marks the fifth amendment made in the past several weeks. Approval of the Form S-1 filings is required before Spot ETH ETF trading can begin. In total, six asset issuers have updated their S-1s and are awaiting approval, which could be granted by the end of July.

• ENS launches a rebrand

• Golem sends $100m to CEXs

• Coinbase seeks Gensler’s private emails

• Erigon v2.60.3 release

• Constantine v0.1.0 cryptography stack

• Layer3 changes tokenomics

• German gov sells BTC

• DeBank launches XP campaign

• 5k words on building Family

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