Immutable X Enforceable NFT Royalties

Friday, November 4, 2022

Quick Take

  • Vitalik proposes a trust model framework for rollups.
  • Vitalik adds The Scourge to Ethereum roadmap.
  • Alchemy introduces Spearmint allowlist platform.
  • Immutable X to extend enforceable royalties.
  • Shell Protocol releases its first AMM Engine pool.

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Vitalik Proposes Rollup Trust Framework

Vitalik Buterin proposed a milestone-based trust framework for rollups. The proposal aims to standardize the various stages of development into three categories. Currently, most rollups rely on training wheels, which Buterin describes as a multisig with the ability to force a particular outcome in the event that bugs are found.

Projects can use the framework to help users understand what specific trust model their rollup is using. The first phase of development, Stage 0, is defined as a rollup with full training wheels. All rollup transactions are available on-chain and a rollup full node exists, however, there is no active fraud proof or validity proof.

Stage 1 is defined as a rollup with limited training wheels, which is where most projects stand today. Stage 1 involves a fraud proof or validity proof scheme, however, a multisig-based override mechanism exists. Lastly, Stage 2 is a rollup with no training wheels. A security council cannot change the output of the code if no bugs are found.

Alchemy Introduces Spearmint Allowlist Platform

Blockchain infrastructure provider Alchemy introduced Spearmint, a no-code platform for creating NFT and airdrop allowlists. The tool is free to use and powered by Alchemy’s infrastructure. Spearmint enables a fast allowlist setup, which usually requires developers to set up self-hosted API servers and databases.

Creators can allow list addresses based on wallet balance, Twitter activity, or discord roles. Spearmint’s API automatically validates users and enables smart contract verification. Spearmint also features a dashboard for tracking sign-ups and attributing marketing efforts. Creators can currently apply for early access to the tool.

Immutable X Enforceable NFT Royalties

Immutable X announced plans to extend enforceable on-chain royalties to Ethereum Mainnet. The project has already implemented enforceable royalties across its L2 network. Immutable plans to implement a whitelist and blacklist for smart contracts that honor royalty fees. The list is to be governed by $IMX token holders.

EIP-2981 is an existing Ethereum royalty standard that allows marketplaces to discover intended royalties. However, royalties are still at the discretion of NFT marketplaces. Immutable’s list of whitelisted smart contracts will allow creators to only approve permissions for contracts that respect their royalties.

Shell Releases First Proteus AMM Engine Pool

Shell Protocol launched its first Proteus AMM Engine pool, which is a custom-built AMM. Users can now swap between and provide liquidity for a DAI/USDC pool on Arbitrum. Additional pools will be built in the coming months. Shell says its AMM is more capital efficient than Uniswap v3 due to its ability to support more precise price buckets.

It took shell eighteen months of research and development to bring its primitive AMM engine to mainnet. The engine maps liquidity concentration to token price history, providing improved prices for traders, and more yield for LPs. Users can also earn Shell Points, in addition to trading fees, as a reward for providing liquidity.

Vitalik Releases Updated Ethereum Roadmap

Vitalik Buterin updated the Ethereum Roadmap Diagram, adding a new phase called The Scourge. The Scourge aims to ensure reliable and fair credibly neutral transaction inclusion and solve current MEV issues. The updated roadmap also has single-slot finality as a stage two milestone for The Merge. Enabling staking withdraws is currently the next milestone for Ethereum.