• Hoodi activates Pectra hard fork.

• Ethereum researchers propose EIP-7917.

• PeerDAS information hub.

• Obol releases Charon v1.3.0.

https://open.spotify.com/episode/3DtMRzu1G4sSCu5T7AwC4j

Hoodi, the latest long-term Ethereum testnet, successfully activated the Pectra upgrade today at 14:37:12 UTC. This deployment enables staking operators and infrastructure providers to test Pectra’s newest validator features, including execution layer-triggered exits EIP-7002 and an increased maximum effective balance EIP-7251, which allows validators to stake up to 2,048 ETH per validator. The trestnet achieved finalization roughly 30 minutes after the fork. Hoodi replaces the Holesky testnet, which is set to be deprecated by September 2025. Ethereum core developers have agreed to activate Pectra on Ethereum mainnet at least 30 days after a successful fork on Hoodi, setting the timeline for late April or early May.

Ethereum researchers Lin Oshitani and Justin Drake introduced EIP-7917, a proposal designed to address the unpredictability in the beacon proposer schedule by pre-calculating both RANDAO and effective balances simultaneously. The goal is to make the proposer schedule deterministic and simplify the implementation of preconfirmation protocols. The proposal introduces a new proposer_lookahead field in the beacon state, which provides a list of validator indexes for upcoming epochs. Unpredictability in the beacon proposer schedule is expected to increase with the introduction of MaxEB in Pectra, as rewards, validator consolidations, and deposits can alter effective balances significantly. The researchers aim to propose EIP-7917 for inclusion in the Ethereum Fusaka upgrade.

Ethereum researchers launched DAS.wtf, an information hub dedicated to Data Availability Sampling (DAS) and PeerDAS. The hub features relevant EIPs, key resources, and historical context. PeerDAS enhances Ethereum's scalability by using existing peer-to-peer components, allowing nodes to verify blob data availability without downloading the entire dataset. PeerDAS will be a key focus of Fusaka, the next hard fork following Pectra, and is a crucial part of “The Surge” in Ethereum’s roadmap for scaling transaction throughput while maintaining decentralization and security. EIP-7594 outlines PeerDAS's implementation, which is scheduled for inclusion in Fusaka.

​Obol Network released Charon v1.3.0, marking the first Pectra-ready version of its distributed validator (DV) middleware client for Ethereum. The update introduces enhanced validator refresh logic, improved logging and monitoring capabilities, and various bug fixes. It also adds flags for human-readable operator nicknames. Nodes operating Charon are advised to update their software in preparation for the upcoming Pectra fork. Obol is a prominent provider of distributed validator technology, which enhances Ethereum's fault tolerance by eliminating single points of failure. 

• Besu’s position on Fusaka

• Defillama releases Gas Refuel

• CCTP V2 goes live on Linea

• Ethdotorg publishes AI page

• Multi-year threat actors personas

• Term Labs launches $TERM

See disclosures

• Celo migrates to an L2.

• Custodia Bank issues a USD stablecoin.

• World Liberty Financial announces USD1.

• Shape L2 pledges 1% to Protocol Guild.

• Abracadabra suffers $13m exploit.

Celo L2 is now live on mainnet! The network has successfully migrated from an EVM-compatible Layer 1 to an OP Stack Layer 2 at block 31,056,500. The upgrade reduces block times from 5 seconds to just 1 second, enabling faster transactions while preserving all historical transactions from its Layer 1 network. With the transition, Celo brings its DeFi infrastructure, stablecoins, and over $70 million in TVL to the Superchain. Entering a new growth era, Celo aims to build an inclusive and efficient onchain economy, further scaling Ethereum for real-world use cases. Celo was originally launched on Earth Day 2020 as a Proof-of-Stake Layer 1.

Custodia Bank, in collaboration with Vantage Bank, has issued the Avit stablecoin on Ethereum, making it the first U.S. bank-issued, dollar-pegged stablecoin. Custodia successfully issued, transfered, and redeemed Avit stablecoins on Ethereum mainnet for a bank customer. Avit is issued as an ERC-20 token on Ethereum. Custodia Bank manages issuance, custody, and monitoring, while Vantage Bank manages fiat reserves and payments. The initiative underscores the growing interest of traditional financial institutions in leveraging permissionless blockchains for tokenization while maintaining regulatory compliance.

World Liberty Financial, a DeFi platform on Ethereum backed by Donald Trump, announced plans to launch USD1, a stablecoin pegged 1:1 to the US dollar that will be backed by short-term US treasuries, cash deposits, and equivalents. USD1 will initially be available on Ethereum mainnet and Binance Smart Chain (BSC). BitGo will serve as the custodian for USD1. World Liberty Financial says USD1 avoids complex yield-generating mechanisms, prioritizing transparency and security for institutional adoption.

Shape L2 is now the latest project to make the Protocol Guild pledge, allocating 1% of its total token supply to the guild. Shape is also hosting the "Infinite Garden" NFT mint, with 50% of the proceeds allocated to the Protocol Guild. The Protocol Guild is a collective of 191 members that contribute to Ethereum protocol development. The registry of members is fully onchain and donations are paid out based on contributions and time contributing. The pledge aims to address the opportunity cost of working on Ethereum L1 by providing core devs the potential upside of a token allocation from early Ethereum projects.

Abracadabra, a DeFi lending protocol behind the MIM stablecoin, suffered an exploit, resulting in a loss of approximately $13 million worth of ETH. The protocol allows users to deposit interest-bearing tokens, like magicGLP, as collateral to borrow MIM. The attack targeted Abracadabra’s “gmCauldrons,” an isolated lending market that enables users to borrow MIM. GMX confirmed that its GMX contracts were unaffected, as the vulnerability was confined to Abracadabra’s integration with GMX pools.

• Prysm v5.3.2 release

• Erigon v3.0.0 release

• Teku v25.3.0 release

• Nimbus v25.3.1 release

• Alex Stokes & Barnabe on Unchained

• Tim Beiko on Bankless

• ACD checkpoint updates

• Protocol research call

• Devconnect ARG venue announced

• Subtraction is a failed comms strategy

• Ipsilon: EOF Fusaka Options

• Ethresearch: Decoupling throughput

• Paper: Execution Welfare

• Hoodi testnet explorer is live

• Fidelity to launch stablecoin

• Arbitrum 2024 Transparency Report

• Private ENS with Fluidkey

• USDtb on Aave V3 proposal

• Particle launches PARTI

• Kelp releases eligibility checker

• Taiko RFP applications

• Hashflow deploys on Base

• Polymarket supports Base deposits

• Celsius sues Chainalysis

See disclosures

• Fusaka scope freeze timeline.

• Optimism schedules Upgrade 13.

• Circle expands USDC in Japan.

• Paradigm releases a report on DeFi.

Ethereum core developer Tim Beiko shared an updated Fusaka upgrade timeline, targeting a scope freeze by April 10, 2025. Fusaka is the next upgrade after Pectra. Client teams are currently advised to provide feedback on which EIPs to include or remove. The Fusaka Meta EIP-7607 currently lists PeerDAS EIP-7594 and EOF Meta EIP-7692 scheduled for inclusion. EOF, a collection of approximately 11 EIPs designed to enhance code validation, has sparked debate, with some client teams advocating for its removal due to concerns over complexity. A Meta EIP acts as a central proposal, coordinating changes across both the execution and consensus layers for synchronized upgrades.

Optimism scheduled Upgrade 13 for OP Mainnet on April 1, 2025. The upgrade improves the Superchain’s fault proofs incident response, contract upgrade processes, and security mechanisms. The upgrade introduces a new system for upgrading L1 contracts across the Superchain, making contract upgrades more scalable and reliable. Improvements to the Fault Proofs Incident Response mechanism will enhance withdrawals and dispute handling. The upgrade also introduces the DeputyPauseModule, a Safe Module designed to enable quick, coordinated security responses via the Superchain-wide pause mechanism. Users are advised to complete any pending withdrawals to L1 before April 1 to avoid needing to submit a second proof. Alongside OP Mainnet, Ink Mainnet and Soneium Mainnet will also undergo the upgrade on April 1, 2025. OP Labs is also hosting a $250,000 audit competition on the latest Superchain interop upgrades to the OP Stack.

Circle, in partnership with Japanese fintech firm SBI Group, will launch USDC in Japan on March 26, 2025, through SBI’s cryptocurrency exchange, SBI VC Trade. Local exchanges, including Binance Japan, bitbank, and bitFlyer, also plan to list USDC. The launch is part of Circle’s expansion into Japan through Circle Japan. Circle and SBI Group aim to integrate USDC into Japan's digital finance landscape. The expansion will boost USDC’s market liquidity and foster institutional adoption. USDC is the second-largest stablecoin by market cap, with a total supply of $59 billion.

Crypto investment firm Paradigm published a report outlining the growth of DeFi in traditional finance. Based on a survey of 300 traditional finance professionals, the report highlights a growing trend toward blockchain adoption for tokenization aimed at improving efficiency, reducing costs, and enhancing financial services. The report reveals that over two-thirds of traditional finance firms are actively exploring DeFi, with a strong preference for public, permissionless blockchains over private, permissioned ones. Firms see DeFi as a future cornerstone of their core businesses, but a lack of clear regulations remains the biggest barrier to DeFi adoption.

• Euler hits $1b in TVL

• Aave hits $10b TVL on Linea

• Hyperlane deploys on Soneium

• Ethresearch: Max-Blobs Flag

• Ethresearch: New blob pricing EIP

• Nillion goes live on mainnet

• OpenZeppelin Safe Utils interface

• OpenZeppelin Cairo v2.0.0-alpha.0

• OP Labs dev researcher role

• Flaunch integrates Privy

• Scroll Open winners

• Superform introduces v2

See disclosures