Vitalik Buterin Proposes EIP-7702
A new standard that allows EOAs to operate as smart contract wallets temporarily during a transaction.
Vitalik Buterin proposes EIP-7702.
Velodrome launches on Mode.
Lyra introduces yield-bearing derivatives.
Sablier supports zkSync Era.
Harpie is an onchain security solution that protects your wallet from theft in realtime. Harpie helps you detect and block suspicious transactions before they execute, safeguarding your assets from malicious attacks and scams. Try Harpie for free at harpie.io/ethdaily.
Vitalik Buterin introduced EIP-7702 as an alternative to account abstraction EIP-3074. Rather than adding new opcodes, EIP-7702 proposes a new transaction type that allows Externally Owned Accounts (EOAs) to operate as smart contract wallets temporarily during a transaction, with the state of the EOA reverting to its original condition after the transaction. The transaction type under EIP-7702 includes fields for contract_code and a signature. The approach supports the same functionalities as those proposed in EIP-3074, such as batch and sponsored transactions. Although Ethereum core developers previously planned to adopt EIP-3074 in the upcoming Pectra upgrade, EIP-7702 could change development direction as it could better streamline the transition of EOAs into smart contract wallets.
Velodrome Superchain, a MetaDEX aimed at becoming the primary liquidity and trading hub on the Superhain, is now live on Mode Network as part of its beta release. This launch features support for both stable and volatile asset AMM pools. Users can now explore liquidity pools, swap, or open LP positions on Mode. Mode launched its MODE governance token today, which has a fully diluted valuation of $576 million. In the coming days, liquidity providers will earn MODE token incentives. Projects within the Mode ecosystem can also enhance liquidity for their tokens by allocating incentives to gauges. Over the next 30 to 60 days, Velodrome will roll out Velodrome Superchain 1.0, an initial version of the MetaDEX that incorporates VELO rewards and Slipstream liquidity pools.
Lyra Finance introduced a new solution that tokenizes yield-bearing derivatives, focusing initially on basis trade and covered call strategies for Liquid Restaking Tokens (LRTs). The approach enables users to deposit LRTs such as EtherFi’s eETH and Swell’s rswETH to earn yields from ETH funding rates in basis trades and from volatility in options selling. The strategies are packaged into ERC-20 tokens that can further be used across DeFi. In the coming weeks, Lyra plans to release both cash and carry and covered call strategies for LRTs and stETH. Operating as a permissionless options platform, Lyra Finance features smart accounts, cross-margin, and cross-asset collateral, all running on Lyra Chain, which is an OP Stack Layer 2 network.
Token streaming platform Sablier now supports streams on zkSync Era. Sablier enables users to create token streams featuring linear, cliff, timelock, and exponential locking mechanisms. Sablier also supports voting power on Snapshot from tokens that are streaming. Sablier now supports streams on a total of twelve chains
MetaMask Introduces Smart Transactions
A new opt-in feature designed to protect against MEV and enhance transaction success rates.
MetaMask introduces Smart Transactions.
Arbitrum onboards security council members.
Erigon releases an update on Erigon 3.
Robinhood Crypto receives a Wells notice.
Harpie is an onchain security solution that protects your wallet from theft in realtime. Harpie helps you detect and block suspicious transactions before they execute, safeguarding your assets from malicious attacks and scams. Try Harpie for free at harpie.io/ethdaily.
MetaMask introduced Smart Transactions, a new opt-in feature designed to protect against MEV and enhance transaction success rates. The feature shares a similar framework as MetaMask Smart Swaps, which uses a virtual mempool and employs an auction-based system where a network of searchers and builders compete to fulfill user requests. Transactions sent through Smart Transactions are not visible in the public Ethereum mempool. Users can monitor the progress of their pending transactions via the MetaMask portfolio dashboard. Smart Transactions are only available on Ethereum Mainnet and cannot be manually canceled or expedited. Smart Transactions can enabled in MetaMask v11.15 or later.
Arbitrum concluded its semi-annual security council elections, bringing in a fresh cohort voted by ARB token holders. Among the new members are Bartek, co-founder of L2Beat, Yoav, an Ethereum Foundation researcher, Fred, formerly of Offchain Labs, and security research firms Zellic, Certora, and OpenZeppelin. Comprising of 12 independent members, the Arbitrum Security Council undergoes bi-annual elections to rotate out six members at a time. The council is tasked with executing prompt protocol upgrades in emergencies. Upgrades initiated by the council bypass approval from the Arbitrum DAO, but are still subject to a short delay period.
Erigon, an Ethereum execution layer client, released an update regarding the upcoming launch of Erigon 3. With a shift to prioritize Erigon 3 development, the forthcoming v2.60.0 release will serve as the last major update for Erigon 2. Subsequent releases will focus on bug fixes or serve as release candidates leading up to the debut of v3. Engineered for optimal efficiency, Erigon 3 is designed for both full archive nodes and pruned node types. Erigon V3 code now resides in the main branch.
Robinhood Crypto, the cryptocurrency trading division of Robinhood, has become the latest recipient of a Wells notice from the SEC. The notice accuses Robinhood Crypto of similar violations as Coinbase, Kraken, and Uniswap, such as the failure to register with the SEC. Robinhood says it has received and cooperated with the SEC’s investigative subpoenas and has made attempts to register a specialized broker-dealer. Despite the notice, Robinhood says that Robinhood Crypto is here to stay.
Polygon launches Miden Alpha testnet
Fairblock releases FairyCoW Swap
Implications of EIP-3074 inclusion
Polygon native USDC migration campaign
Upcoming retro funding rounds
Mode begins Phase 2
DeBank snapshot taken
Coinbase securities lawsuit
Hayden’s take on points
Buttrfly supports Lens profile minting
Friend Tech Launches $FRIEND
The Base-native social app quietly released its V2 update alongside its FRIEND token airdrop.
Friend Tech launches its FRIEND token.
$70 million address poisoning attack.
LayerZero launches a self-report sybil program.
EigenDA onboards rollups to mainnet.
Harpie is an onchain security solution that protects your wallet from theft in realtime. Harpie helps you detect and block suspicious transactions before they execute, safeguarding your assets from malicious attacks and scams. Try Harpie for free at harpie.io/ethdaily.
Friend Tech, a Base-native social application where users can trade profile-based shares, quietly launched its V2 update alongside its FRIEND token airdrop. Users who accumulated points over the previous eight months are now able to claim FRIEND tokens. FRIEND has a total supply of 72 million and a market cap of $130 million. Following its release, the price of FRIEND dropped to a low of approximately $1 but has since rebounded to around $1.90. Eligible users can instantly claim 10% of their airdrop and must follow at least 10 users and join a Club to unlock the remaining 90%. A Club is a tokenized chatroom featuring a custom price curve. FRIEND is used as the native currency for purchasing Club memberships.
A user lost $70 million from an address poisoning attack. The victim sent 1,155 WBTC to an attacker who spammed the victim’s wallet with a zero-value ETH transfer using an address that looks similar to their own. The attack vector aims to trick the victim into transferring assets to a similar-looking fraudulent address. In this case, the victim fell for the simple attack vector. Etherscan typically makes an effort to hide zero-value token transfers on its block explorer by default. However, some transfers can still slip through the filter. Users are advised to carefully verify addresses and refrain from copying addresses directly from Etherscan.
LayerZero, a cross-chain messaging protocol, launched a self-report program for sybil users as part of its upcoming airdrop. The program rewards sybil users who voluntarily report themselves by granting them 15% of their intended allocation. Sybil users who fail to self-report and are identified by bounty hunters will forfeit their entire token allocation. Users have until May 17th to self-report. LayerZero is expanding the scope of sybil behavior to include more than just sybil factories. The protocol will flag the repetitive use of gas refueling dapps to appear active as sybil activity. LayerZero confirmed that the snapshot for its airdrop was taken on May 1st. LayerZero’s bridging protocol enables dapps to access cross-chain liquidity.
EigenDA, EigenLayer's native data availability solution, is now onboarding rollups onto its mainnet. Although still in beta, the onboarding process is intended to stress test the network's traffic capacity. EigenDA has 115 operators and 400,000 ETH in delegated stake from 42,000 re-stakers. EigenDA is set to be competitive with data blobs and will be production-ready as part of a general availability release in the upcoming months.
ENS turns 7
Reth execution extensions
HAI approves SNX collateral
EIP-5792 info site
Giveth supports donation streams
MakerDAO NewStable explainer