OP Stack Multi-Proof Support

Under the new system, developers will be able to use various proof types.

OP Stack Multi-Proof Support

Quick Take

  • A bug halts assets on the Aave V2 Polygon market.
  • Gyro launches an Elliptic Concentrated LP on Balancer.
  • Optimism shares details about multi-proof support.
  • Flashstake deploys an rETH yield vault.

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Optimism Highlights 🔴✨

OP Stack Multi-Proof Support
Optimism shared insights about multi-prover support in the upcoming Bedrock upgrade. Under the new system, developers will be able to use various proof types. Expanding on the multi-client principle, incorporating multiple proofs enhances security by preventing a bug in one proof from causing a catastrophic network failure. The upgrade also features standardized on-chain APIs and the use of off-chain actors who secure the network by communicating with dispute contracts. The on-chain APIs allow for proof schemes to be swapped as well as the integration of ZK validity proofs. Bridges can also choose to require multiple proofs for redundancy.

Bug Temporarily Halts Aave V2 Polygon Assets

A bug in the Aave V2 Polygon market has caused a temporary halt on WETH, WBTC, USDT, and WMATIC assets. The bug impacts over $100 million worth of assets, which remain frozen until a fix is executed. The bug was introduced in a recent Aave V2 update that changed parameters for the interest rate curve on affected assets. According to BlockSec, the root cause of the bug was that the new reserve interest rate strategy is compatible with Ethereum but not compatible with Polygon. BGD Labs has already published a governance proposal to fix the issue. Aave V2 Polygon users will be unable to supply, borrow, repay, or withdraw any affected assets until May 26th.

Balancer Elliptic Concentrated Liquidity Pool

Stabkecoin protocol Gyroscope launched an Elliptic Concentrated Liquidity Pool (E-CLP) built on Balancer. An initial implementation supports a stMATIC/wMATIC pool on Polygon. E-CLPs allow trading along the curve of an ellipse, enabling highly customizable liquidity profiles. E-CLPs are ideal for stablecoins and liquid staking tokens. The price bounds of E-CLPs make them capital-efficient by bounding the trading curve within an expected range of asset prices. It improves capital efficiency in situations where liquidity provision outside of certain prices is unprofitable. Gyroscope expects the E-CLP to be 6.9x more capital efficient than the second-largest Balancer pool.

Flashstake Deploys rETH Yield Vault

Fixed-rate yield protocol Flashstake deployed a yield vault for Rocket Pool’s rETH liquid staking token. Users can now Flashstake rETH to lock their assets for up to 90 days and instantly collect an upfront yield. Users can claim their principal at any time but will forfeit the upfront yield if assets are claimed before their maturity date. Flashstake is also offering rFlash rewards for eligible users to Flashstake their rETH for 90 days. Each rFlash reward token will be redeemable for at least 1,000 FLASH tokens at a later date. Over $800k worth of rETH has been Flashstaked so far. Flashstake also supports Flashstakes for ETH, WETH, stETH, GLP, USDC, and sUSD.

Juno v0.3.0 Starknet Full Node Client

Nethermind released Juno v0.3.0, an upgrade to its full-node client for Starknet. The release features support for Starknet v0.11.2, new RPC endpoints, implemented StateSnapshot, and History for contracts, nonce, and class hash. The release also optimizes transaction storage encoding and includes refactored sync tests. StarkWare is currently working toward Starknet Alpha v0.12.0, which will improve throughput and latency.