• SoP relaunches as Protocol Institute.

• LayerZero contributes 5k ETH to DeFi United.

• DeFi United technical recovery plan.

• Ethereum issuance reduction discussions.

EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn

The Summer of Protocols, originally seeded by the Ethereum Foundation, relaunched as The Protocol Institute, a new initiative to advance the study, design, and stewardship of protocols across research, entrepreneurship, governance, culture, and education. Read more →

LayerZero pledged 5,000 ETH to DeFi United and another 5,000 ETH to support Aave market liquidity, bringing its total commitment to 10,000 ETH. DeFi United's total fundraise has surpassed 137,708 ETH (~$315M). Read more →

Aave published its technical plan for DeFi United, using temporary rsETH oracle adjustments on Ethereum and Arbitrum to liquidate 107,000 rsETH held across seven exploiter addresses on Aave and Compound. Recovered rsETH will be redeemed through Kelp to clear the deficits. Read more →

• Ethereum issuance reduction discussions-

• from: Dima Gusakov, Evan Van Ness, and Tom Lee.

• Nouns statement on Proposal 955.

• Charon v1.10 release.

• This week in Enterprise Onchain.

• Privacy Boost on Soneium.

• Human Protocol with Griff Green.

• Etherscan to hide low-value txs.

• Foundation goes offline.

• Puffer contributes to DeFi United.

• EtherFi cuts off 8 L2s.

• Polymarket CLOB update.

• CoW Swap turns 5.

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Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.

• DeFi United secures sufficient funds.

• Consensys commits 30,000 ETH.

• Bitmine crosses 5m ETH in holdings.

• Hayden buys back hayden.eth.

EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn

Aave founder Stani Kulechov announced that the DeFi United initiative has secured sufficient funds to restore the full backing of rsETH following the April 18 LayerZero bridge exploit. Execution remains pending, subject to governance votes and the finalization of indicative agreements. Aave has also aligned with KelpDAO and LayerZero on the technical steps required to carry out the recovery plan. Over the weekend, Aave submitted a governance proposal to the Arbitrum DAO requesting the release of 30,765.67 ETH frozen by the Arbitrum Security Council. Read more →

Consensys and Joseph Lubin committed up to 30,000 ETH in financial support toward the DeFi United rsETH recovery effort, with SharpLink joining in a strategic advisory capacity. The contribution is particularly significant given that the 30,765.67 ETH frozen by the Arbitrum Security Council will not be liquid until the governance process is completed. The Babylon Foundation is also depositing 3M USDT and Tron is depositing 20M USDT into Aave to assist with liquidity. Read more →

Bitmine Immersion Technologies crossed 5 million ETH in holdings, announcing a total of 5,078,386 ETH valued at approximately $12 billion at current prices. The milestone maintains Bitmine as the largest Ethereum treasury in the world and represents 4.21% of total ETH supply. Bitmine has a stated goal of acquiring 5% of all ETH in circulation. Of the 5.078 million ETH held, 3,701,589 ETH (~73%) is currently staked, generating annualized staking revenues of $264 million at a yield of 3.033%. Read more →

• Protocol devs hangout

• Validator consolidation stats

• Hayden buys back hayden.eth

• Lido EarnETH close to resolution

• Sync Committee visualizer

• ObolClaw v0.8 release

• Privy releases actions

• Zerion integrates LIFI

• EtherFi next chapter meeting

• Litecoin chain reorg

• Monolith goes live

Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.

• Aave DAO offers 25k ETH to DeFi United.

• EF swaps aWETH for wstETH.

• Polymarket plans a chain migration.

• Bitmine buys 10k ETH from EF.

EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn

Aave service provider TokenLogic proposed allocating 25,000 ETH from the Aave DAO treasury to DeFi United, the coalition aiming to fully restore backing for KelpDAO's rsETH. Aave calculates a residual funding gap of approximately 75,081 ETH after the Arbitrum Security Council's 30,766 ETH freeze and expected liquidation recoveries from the attacker's positions on Aave and Compound. Aave's contribution, combined with Mantle's 30,000 ETH credit facility and pledges from Lido, EtherFi, Ethena, Ink, BGD Labs, and others, is expected to completely fill the rsETH shortfall. The proposal will advance to a Snapshot vote by AAVE token holders. Read more →

The Ethereum Foundation exchanged 21,269 aWETH from its Aave lending position for 17,254 wstETH in a transaction with Mellow and Lido Finance. Mellow, a curator for Lido's EarnETH vault, used the aWETH to pay down the vault's WETH debt on Aave after the KelpDAO exploit drove Aave's WETH market to peak utilization. The swap reduced EarnETH's outstanding WETH debt from approximately 82,000 to 62,000 WETH, improving the vault's health factor. Read more →

Polymarket's VP of Engineering DeFi posted an engineering roadmap to scale the platform's infrastructure to meet growth. The roadmap includes plans for a chain migration aimed at offering more block space, lower gas costs, and faster block times. It was not specified whether Polymarket will launch its own chain or migrate to an existing L1 or L2. Other near-term priorities include rebuilding CLOB, reducing onchain data latency, and shipping a unified TypeScript SDK and WebSocket API. Read more →

• Ethereal news weekly #20

• EF sells 10k ETH to Bitmine

• Storm faces potential retrial

• DeFi United public contributions

• DeFi United dashboard

• Ernesto contributes 100 ETH

• BGD Labs contributes 250 ETH

• Chainlink data on AWS

• Lighter supports ETH collateral

• Sky Laniakea institutional infra

• mETH enables redemptions

• Fluent L1 goes live

Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.