#909 - Katana Launches A Perps DEX
Katana acquired IDEX and is leveraging its infrastructure to launch Katana Perps,
Katana launches a perps DEX.
Balancer Labs is shutting down.
Resolv hack and USR depeg.
Ethereum L1 and L2 relationship.
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Listen to this episode from Ethereum News on Spotify. Katana launches a perps DEX. Balancer Labs is shutting down. A Resolv hack depegs the USR stablecoin. And Ethereum researchers outline the relationship between L1 and L2. Read more: https://ethdaily.io/909
](https://open.spotify.com/episode/1JStZowSeGGOiyes4or4me)
EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn
Katana, a DeFi-focused, ZK-powered Layer 2 built on Polygon’s Agglayer, acquired IDEX and is leveraging its infrastructure to launch Katana Perps, its native perpetual futures DEX, now live in early access. The move reflects Katana’s broader strategy of owning and integrating core DeFi infrastructure at the chain level. Katana Perps is powered by a structural yield model using its Vault Bridge. The Vault Bridge uses USDC bridged onto the L2 to generate ongoing yield, which is used to fund trading incentives like liquidity, market making, and user rewards, allowing incentives to be sustainable and scale with deposits. Katana will also flow trading fees from Katana Perps back into its ecosystem. The move aims to link its KAT more directly to real protocol revenue generation.
Balancer published two governance proposals announcing the wind-down of Balancer Labs and a restructuring that cuts the team roughly in half, from 25 to 12.5 FTE and reducing its annual budget from $2.87 million to $1.9 million in hopes of extending the protocol's runway from under 4 years to 9 years. The move follows Balancer’s November 2025 exploit and a $2.6 million annual deficit. BAL emissions compounded the problem by diluting holders without generating proportional returns. The proposals aim to halt BAL emissions immediately, route 100% of protocol fees to the DAO treasury, cut the V3 swap fee in half, sunset the veBAL system, and offer a BAL buyback at $0.16/token. Balancer will focus on Boosted Pools and reCLAMM, with the restructure aiming to bring long-term sustainability.
Resolv, the issuer of the USR stablecoin on Ethereum, suffered a private key compromise on March 22, 2026, allowing an attacker to use the offchain account responsible for finalizing mint requests. The attacker minted 80 million unbacked USR by exploiting the lack of onchain oracle checks and minting caps. The attacker converted the tokens into wstUSR and sold it across Curve, KyberSwap, and Velodrome, extracting approximately $25 million (primarily 11,409 ETH) and triggering a depeg of the stablecoin. While Resolv’s $141 million collateral pool remained unaffected, users experienced impacts across multiple DeFi protocols. On Morpho, automated allocators continued supplying liquidity after the exploit, resulting in millions of dollars in bad debt. Fluid fully covered its exposure through emergency loans, ensuring no user funds were affected on its platform. Resolv paused the protocol and began enabling redemptions for pre-incident holders on March 23. It also issued an onchain message to the attacker seeking recovery of funds.
Ethereum researchers Josh Rudolf, Julian Ma, and Josh Stark outlined their vision for how Ethereum L1 and L2s should work together as a unified system. Their core idea is that Ethereum can best scale and achieve mass adoption by leveraging the strengths of both layers. Ethereum L1 remains secure and decentralized, acting as the primary hub for settlement, liquidity, and DeFi, while scaling without compromising its core principles. L2s have evolved beyond just scaling solutions. Their primary role is to provide differentiation through innovation, customization, and specialized use cases. L2s access Ethereum’s security, users, developers, and capital, without needing to operate their own validator networks. Together, the layers create a mutually reinforcing system to power a global, interoperable onchain economy.
Encrypted Mempools 101
What to know for Glamsterdam
Privacy Pools SDK bug
Octant seeks social lead
Arbitrum Sepolia outage
Conduit G3 sequencer
Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.
#908 - Path To Private Swaps On Ethereum L1
The path to private L1 swaps leverages four proposed upgrades: EIP-8141 , 2D nonces, encrypted frame transactions, and FOCIL.
Path to private swaps on L1.
Polygon introduces T-REX Ledger.
Coinbase AM launches RWAs on Base.
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Listen to this episode from Ethereum News on Spotify. Ethereum researchers outline a path to private swaps on L1. Polygon introduces T-REX Ledger. And Coinbase Asset Management launches RWAs on Base. Read more: https://ethdaily.io/908 Borrow against ETH at 0.50%.
](https://open.spotify.com/episode/32YaBo1WIThc6wCggkSUj4)
EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn
Thomas Thiery, a researcher at the Ethereum Foundation’s Robust Incentives Group, outlined a path for enabling private swaps on Ethereum L1 without relying on trusted intermediaries or being vulnerable to frontrunning and censorship. The roadmap to private L1 swaps leverages four proposed upgrades: EIP-8141 for native account abstraction, 2D nonces, encrypted frame transactions, and FOCIL. Together, the features will allow users to submit transactions, keep swap details hidden until block ordering is finalized, reduce exposure to MEV frontrunning, ensure censorship resistance, and maintain parallel transaction throughput. Encrypted frame transactions conceal execution parameters until after the block is committed, providing strong protection against frontrunning.
Polygon, T-REX Network, and Tokeny introduced T-REX Ledger, a new chain built with Polygon CDK designed to solve compliance challenges in tokenized finance. Apex Group Ltd., which services over $3 trillion in assets, will adopt T-REX Ledger as its default infrastructure and act as an onchain transfer agent. The platform aims to support real-world assets (RWAs) by serving as a shared compliance layer that manages investor identity, KYC/AML requirements, ownership records, and transfer rules. T-REX Ledger will connect to Polygon’s Agglayer and will support the regulated asset standard ERC-3643. The initiative targets bringing $100 billion in tokenized assets onchain by June 2027.
Coinbase Asset Management, the institutional arm of Coinbase, launched a tokenized share class of its Bitcoin Yield Fund on Base, also in partnership with Apex Group. The fund’s shares are issued as tokens using the ERC-3643 standard, with initial availability limited to non-U.S. investors. The tokenization aims to reduce costs, speed up settlement, and broaden investor access.
Ethereal news weekly #16
Ethereum gaming ecosystem
The bull case for Polaris
Tally alternative front-end
Grayscale files S-1 spot Hyperliquid ETF
Crypto market-structure bill discussion
Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.
#907 - Codex FX Fiat To Stablecoin Settlement
A stablecoin-powered FX platform enabling fiat-to-stablecoin, stablecoin-to-fiat, and stablecoin-to-stablecoin conversions.
Codex fiat <> stablecoin settlement.
TheDAO Fund security badges.
World Chain adopts ERC-8183.
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Listen to this episode from Ethereum News on Spotify. Codex introduces its fiat-to-stablecoin settlement platform. TheDAO Fund introduces security badges. And World Chain adopts ERC-8183 for agentic commerce. Read more: https://ethdaily.io/907 Borrow against ETH at the lowest fixed rates in DeFi. Liquity V2 lets you use ETH as collateral to mint BOLD, the Ethereum native dollar.
](https://open.spotify.com/episode/5IoHD5l4IEW4ut0m30jOi3)
EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn
Codex introduced Codex FX, a stablecoin-powered FX platform aiming to replace cross-border payment infrastructure for businesses in emerging markets. The platform enables fiat-to-stablecoin, stablecoin-to-fiat, and stablecoin-to-stablecoin conversions through a single interface with 30-minute settlement between currencies. It offers 24/7/365 access along with real-time pricing and lower fees. Codex says it provides deep institutional liquidity and supports hard-to-access currencies and corridors. The solution targets payment providers, fintechs, neobanks, and remittance companies, and requires KYB onboarding.
TheDAO Security Fund, the latest iteration of TheDAO focused on Ethereum security, introduced ETHSecurity Badges, an onchain reputation system for top security contributors. A total of 200 badges will be issued, with 40 already awarded. Badge holders get to influence how TheDAO’s ETH fund is allocated to projects. Security experts across auditing, zk, formal verification, AI, and opsec are encouraged to apply. An AI agent evaluates candidate applications. Badge holders receive both a public NFT and a private voting NFT, enabling anonymous participation in governance decisions.
World Chain adopted the ERC-8183 Agentic Commerce Standard for agent productivity on the real human network. Co-developed by Virtuals Protocol and the Ethereum Foundation’s dAI team, ERC-8183 enables autonomous agents to buy and sell services from one another onchain. Developers can integrate escrowed jobs and create a trustless commerce layer for AI agents. World also released AgentKit to allow verified humans to delegate their World ID to AI agents.
Lodestar v1.41.0 release
Prysm v7.1.3 release
PQ threats to Ethereum privacy
Roadmap for private L1 swaps
Introducing x402-ppt
Opera seeks 160m CELO
Anticapture governance frontend
Status v2.37 integrates EFP
KAT LayerZero bridge to Base
First EF validator gets indexed
World Chain is adopting ERC-8183
Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.