• RIP-7212 goes live on Polygon PoS.

• Base postpones planned maintenance.

• DeFi Saver introduces automated debt payback.

• Nethermind releases a post-mortem.

RIP-7212 Goes Live On Polygon PoS

RIP-7212 goes live on Polygon PoS. Base postpones its planned bridge maintenance. DeFi Saver introduces automated debt payback. And Nethermind releas...

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Rollup Improvement Proposal (RIP) 7212 has been successfully implemented on Polygon PoS mainnet as part of the Napoli Hardfork. Polygon is the first network to implement the standard. RIP-7212 introduces a new standard for secure and cost-effective signature verifications using the secp256r1 elliptic curve. The standard aims to improve account abstraction by significantly lowering the costs associated with signature verification, leveraging common technologies like WebAuthn. Polygon has further plans to incorporate more RIPs in future network upgrades. zkSync, Optimism, and Kakarot ZKEVM have also pledged to adopt RIP-7212.

Coinbase's Layer 2 rollup, Base, has postponed planned maintenance for testing the pausability features on its native bridge. The maintenance requires a temporary pause in withdrawals from the native bridge for about an hour. The update was pushed to March 27th at 11AM PST. The delay comes amid a surge in activty on the network. Base has seen over 1 million daily transactions over the past week. The influx in activity has caused the median gas fee on Base to increase from a few cents to upwards of a dollar. The network’s TVL has nearly doubled in the past month, making Base the fifth largest Layer 2 by TVL with $1.6 billion in locked assets.

DeFi Saver introduced a new feature that enables automatic debt repayment for loans on the CurveUSD lending protocol. The feature allows users to set a health ratio threshold and a crvUSD repayment amount to automatically trigger the loan repayment. The feature aims to avoid the risk of hard liquidations. This automated repayment will execute even if the funds available are below the configured amount. It will not execute if the required payback amount surpasses 50% of the transaction's gas costs. DeFi Saver also offers an automated leverage management tool for CurveUSD positions. DeFi Saver is a DeFi dashboard aggregator.

Nethermind released a post-mortem for its consensus bug on January 21st, which caused validators to incorrectly mark valid blocks as invalid. The bug led to validators going offline, missing out on block validations and attestations. The root of the issue was traced to a smart contract transaction containing a revert opcode that caused transactions to fail by using up all its gas, creating a discrepancy in the block hash and breaking network consensus. Nethermind says it plans to enforce stricter requirements for changes affecting EVM and consensus mechanisms.

• CCTP is now live on Hop

• Gelato introduces Playnance

• Across proposal to support Polygon ZK-EVM

• Cryptopunk sells for $16m

• Ethos builds on EigenLayer

• Withdrawal from zk.money before March 24th

• High-level changes to accommodate blobs

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• BlackRock tokenized asset fund.

• Increasing the block gas limit.

• Arbitrum ArbOS phase 2 update.

• Fault proofs go live on OP Sepolia.

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BlackRock launched the BlackRock USD Institutional Digital Liquidity Fund, a new tokenized asset fund that has an initial investment of $100 million in USDC on Ethereum. Operating under the ticker BUIDL, the fund is accessible to accredited investors and leverages Securitize Markets for the tokenization of its digital asset securities. The tokenized fund is incorporated in the British Virgin Islands. Earlier this year, BlackRock launched a Spot Bitcoin ETF and is currently awaiting approval for a Spot Ethereum ETF. As the world's largest asset management firm, BlackRock oversees over $9 trillion in assets under management.

Ethereum community members Eric Conoar and Mariano Conti launched pumpthegas.org, a campaign aiming to advocate for an increase in the block gas limit to 40 million, a 33% rise from the existing 30 million gas limit. Conoar suggests that the increase could potentially lower transaction fees on L1 Ethereum by about 15-33%. Implementing this modification does not require a hardfork, allowing validators to adopt the change already by changing their node configuration. The campaign also calls on operators of large pools to adopt the increase. Marc Zeller, a contributor to Aave, compares the gas limit increase to adding a new lane on a highway, offering only a temporary solution to network congestion.

The second stage of the ArbOS Atlas upgrade for Arbitrum One has been completed, bringing the median transaction fee on the network down to approximately one cent. The second phase of the upgrade eliminates the L1 surplus fee per compressed byte, lowering it from 32 gwei to zero, and reduces the L2 minimum base fee from 0.1 to 0.01 gwei. The improvements are additive to the cost efficiencies from blob transactions, which were introduced as part of the first phase of ArbOS last week. The update also benefits L3 Orbit chains that settle on Arbitrum One. Arbitrum Orbit L2 chains are required to implement the ArbOS upgrade independently.

The OP Stack fault proof system has launched on the OP Sepolia testnet, marking a critical milestone in the journey towards achieving Stage 2 decentralization for OP Stack chains. The fault proof system enables permissionless validation and for invalid ETH and ERC-20 token withdrawals to be challenged and rejected. Optimism contributors are now focused on developing multiple proof schemes and preparing the fault-proof system for a mainnet deployment.

• Relay supports gasless USDC transfers

• Grayscale adds staking to its ETH ETF

• Yearn Vaults V3 goes live

• Avocado Email Wallet

• Dolomite raises $900k seed

• Scaffold-ETH-2 bounty

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• EtherFi launches its ETHFI token airdrop.

• EF final reminder to migrate from Goerli.

• Gnosis Chain unveils uRamp.

• Aavegotchi selects Base as settlement layer.

EtherFi ETHFI Airdrop Goes Live

EtherFi launches its ETHFI token airdrop. The Ethereum Foundation issues a final reminder to migrate away from Goerli. Gnosis Chain unveils uRamp. An...

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The Ethereum Foundation released a final reminder advising users and developers to migrate from the Goerli testnet to either Sepolia or Holesky testnets as soon as possible. Goerli was initially set to be completely phased out by April 13. However, the majority of node operators on Goerli have already decommissioned their validators. Network participation on Goerli has dwindled to below 5%. Goerli hasn't achieved finality since March 5th, which is the last time it reached a participation rate of over 66%. According to data from Beaconcha.in, Goerli stopped processing blocks on March 12th. Holesky is the first Ethereum testnet to be merged from Genesis and designed for testing validation and staking.

EtherFi, the largest liquid restaking protocol by TVL, launched its ETHFI governance token airdrop alongside its Liquid yield-vault product. Eligible users who restaked ETH on EtherFi can now claim a share of 68 million ETHFI tokens. Users received a median of 175 ETHFI tokens. ETHFI has a total token supply of 1 billion. Roughly 27 million tokens were allocated to EtherFi partners. 55% of the token supply is allocated to investors and the core team behind the protocol. At the time of writing, ETHFI is trading at $3.29, which brings its Fully Diluted Valuation to $3.2 billion. An additional 5% of the token’s supply is allocated to a second airdrop season.

Gnosis Chain unveiled uRamp, a fiat gateway that enables users to convert euros from their bank account into the EURe stablecoin on Gnosis Chain. The conversion is facilitated through Monerium, a regulated Electronic Money Institution and issuer of the EURe token. uRamp leverages LI.FI's liquidity aggregation to support asset conversion across Gnosis Chain, Polygon, and Ethereum. uRamp uses the IBAN standard for direct fund transfers between users' wallets and their Euro bank accounts, bypassing the need for centralized exchanges. uRamp also offers conversion capabilities for multiple EVM-compatible assets, including xDAI, wxDAI, GNO, MATIC, USDC, USDT, and WETH.

Aavegotchi, a blockchain game that integrates DeFi and NFT elements, has chosen Base as the settlement layer for Gotchichain. Originally developed using Polygon's tech stack, Gotchichain is an L3 chain designed specifically for gaming, set to support the Aavegotchi Gaming Console. The launch of Gotchichain is planned for the second quarter of 2024.

• Base doubles tx volume post-Dencun

• Arbitrum Security Council elections

• PartyDAO explains ticker situation

• Judge finds SEC bad faith conduct

• Attacknet tool release

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