• EigenDA launches on the Holesky testnet.

• ConsenSys writes a comment letter to the SEC.

• Fire sunsets its browser extension.

• Missed slots post-mortem.

EigenDA Launches On Holesky Testnet

EigenLayer launches EigenDA on the Holesky testnet. ConsenSys writes a comment letter to the SEC. And Fire sunsets its browser extension. Read more: ...

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EigenLayer launched its restaking protocol and EigenDA data availability solution on the Holesky testnet, following the deprecation of the Goerli testnet. Users can now engage in restaking and operators can integrate with EigenLayer's infrastructure on the Holesky testnet. Rollup sequencers and full nodes can now interact with EigenDA on Holesky to post, retrieve, and verify data blobs. The launch also introduces Dual Quorum, a feature that enhances proof of stake network security by using two quorums. Dual Quorum reduces volatility risks and streamlines the process of bootstrapping a network. Initially, WETH can be used as a secondary staking asset, with plans to support native tokens for AVSs and rollups. EigenLayer is in the second of three launch phases and is anticipated to complete its full mainnet launch in Q2.

Ethereum infrastructure provider ConsenSys submitted a comment letter to the SEC advocating for the approval of an Ethereum ETF. The letter counters the SEC’s concerns over potential fraud and manipulation, alongside concerns regarding Ethereum’s proof of stake consensus design. ConsenSys highlights Ethereum's security as superior to the frameworks supporting existing Bitcoin-based ETFs. The letter underscores Ethereum’s fast block finality, distributed validation process, high attack costs, slashing penalties, and environmental benefits. The SEC has a decision deadline set for May 23rd on VanEck's Ethereum ETF application. Asset managers like Fidelity, BlackRock, and Bitwise have also applied for an ETH ETF.

Ethereum transaction simulator Fire announced that it will discontinue its browser extension on April 8th. Fire was a read-only browser extension that analyzed contract calldata to display a preview of what would happen if a transaction was executed. Over 60,000 users used the extension. Fire says it's shifting focus to build a non-custodial crypto trading app called Iceberg. Users are encouraged to transition to alternative security solutions.

• Missed slot incident post-mortem

• Foundation supports Base

• Vitalik writes about memecoins

• Degen partners with Stacks

• Proof of Reserves as an AVS

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• Syndicate introduces Degen Chain.

• AltLayer launches ALT token staking.

• Vitalik on directions for Ethereum scaling.

• Circle to support native USDC on zkSync Era.

Degen Chain L3 On Arbirtum Orbit

Syndicate introduces Degen Chain as an L3 on Arbirtum Orbit. AltLayer launches ALT token staking. Vitalik Buterin shared insights on directions for E...

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Syndicate, a Web3 infrastructure provider, launched Degen Chain, a L3 chain designed for the Degen community token that offers ultra-low-cost transactions. The chain is built on the Arbitrum Orbit tech stack, settles on Base, and leverages AnyTrust for data availability. Degen Chain also uses $DEGEN as its native gas token. Degen Chain is now live on chain ID 666666666. The initial launch features a bridge and a block explorer. Degen, which is an ERC-20 token on Base, originated from the Degen channel on Farcaster in January 2024. Degen introduced a distribution model that allows users to tip each other with points for creating high-quality content.

AltLayer, a rollup-as-a-service provider, launched ALT token staking and unveiled Mach Alpha, an Actively Validated Service (AVS) on EigenLayer. Mach Alpha will offer fast confirmations and decentralized validation for  OP Stack and Arbitrum Orbit rollup transactions. ALT token holders can now stake their tokens to earn rewards for helping secure the Mach AVS. Mach Alpha aims to address slow block finalization times. ALT token staking marks the first of four launch phases for Mach Alpha. In future phases, AltLayer will support restaked assets and integrate operators once EigenLayer goes live on mainnet. AltLayer’s platform supports custom rollups on the OP Stack and Arbitrum Orbit frameworks.

Ethereum creator Vitalik Buterin shared insights on future directions for Ethereum scaling following the Dencun upgrade and introduction of blobs. He highlighted a shift in Ethereum scaling, moving from foundation scaling efforts to focused, incremental enhancements. He also says that the developer focus will change to the application layer. Ethereum will maintain its L2-centric roadmap, with applications migrating from L1 to L2 to benefit from faster and more cost-effective transactions. An upcoming upgrade is Data Availability Sampling (DAS), which aims to increase the data space to 16 MB per slot. Incremental scaling improvements include a gradual increase in blob capacity, advancements in data compression, and EIP-7623, which seeks to reduce the maximum block size. Buterin notes that with reduced transaction costs on L2s, there’s no excuse for Ethereum not to reach widespread adoption.

Native USDC, the official version of the stablecoin that is compatible with Circle’s Cross-Chain Transfer Protocol, will now be supported on zkSync Era mainnet. The Cross-Chain Transfer Protocol allows native USDC to be natively burned on a source chain and natively minted on a destination chain, removing the need for locked liquidity. Bridged versions of USDC on zkSync Era will now be labeled as USDC.e. Native USDC is already live on Ethereum Mainnet, OP Mainnet, and Arbitrum One.

• ACDE #184 recap

• Base reaches $3b TVL

• Prisma Finance suffers an exploit

• Erigon introduces Erigon++

• Erigon v2.58.0 patch release

• DeFi Saver integrates Safe

• SAFE transferability updates

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• Celestia launches Blobstream on Base.

• Blobs hit a 100% utilization rate due to inscriptions.

• A judge drops the SEC’s claims against Coinbase Wallet.

• E announces its ENA token launch.

Celestia Launches Blobstream On Base

Celestia deploys Blobstream on Base mainnet. Blobs hit a 100% utilization rate due to inscriptions. A judge drops the SEC's claims against Coinbase W...

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Celestia launched Blobstream on Base Mainnet, allowing developers to deploy Base L3 chains that access Celestia for data availability. Blobstream is a one-way data attestation bridge that streams Celestia's DA layer to other chains. Developers can access efficient blockspace that is independently priced from gas fees on their base chain. The implementation allows L2 and L3 rollups to use Celestia light clients for Data Availability Sampling. Blobstream uses Zero-Knowledge Proofs to authenticate the validity of Celestia block headers for confirmation on targeted EVM chains. Blobstream is in an experimental phase with planned support for other chains.

Blob transactions on Ethereum have hit a 100% utilization rate following a significant increase in Blob Inscription transactions on the network. Ethereum currently has a max limit of 6 blobs per block. Data from Hildobby’s Dune analytics dashboard reveals that 41% of recent blob transactions are attributed to blob inscriptions. Inscriptions are primarily used for storing data onchain, including image metadata, although the data from blob transactions only remains accessible for a limited period of up to 21 days. The surge in activity has also caused the base fee for blobs to rise. Data from Galaxy Research indicates that the median fee for a L2 transaction in the past 24 hours stands at approximately 4 cents.

A U.S. federal judge has denied Coinbase's request to dismiss a lawsuit filed by the SEC, which accuses the exchange of operating without registrations for a securities exchange, broker, and clearing agency. Coinbase will now continue its legal battle against the SEC in court. Coinbase's Chief Legal Officer, Paul Grewal, noted that it is common for early motions to dismiss cases brought by government agencies to be denied. The judge did agree to drop the SEC's claims against Coinbase Wallet, the exchange's non-custodial wallet. The SEC initiated the lawsuit against Coinbase in June 2023.

Ethena Labs announced the launch date of its ENA governance token set for Tuesday, April 2nd. 5% of the total token supply is allocated to the user airdrop. USDe is Ethena’s overcollateralized stablecoin that generates yield and is backed by stETH and balanced positions in derivatives markets. With a market capitalization of $1.36 billion, USDe ranks as the fifth-largest stablecoin.

• Azuki introduces AnimeChain

• Base increases its gas target

• Ethereum experienced missed slots and recovers

• Tornado Cash Trial Day 2

• Prysm v5.0.2 release

• Erigon v2.59.1 release

• Rarible supports NFTs on Base

• Base completes bridge maintenance

• Basescan supports ENS

• Vitalik: Supporting decentralized staking

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