• MegaETH raises $10 million in 3 minutes.

• BiT Global sues Coinbase over WBTC.

• OpenSea registers the OpenSea Foundation.

MegaETH, an EVM-compatible Layer 2 blockchain, raised $10 million through a crowdfunding campaign hosted on Echo, an early-stage investing platform. The funding round closed in just three minutes, attracting participation from over 3,000 investors. The investment came in at the same valuation as MegaETH’s $20 million seed round in June. The seed round included backing from Dragonfly Capital, Vitalik Buterin, and Joseph Lubin. Coined as a "Real-Time Blockchain," MegaETH aims to deliver performance with 100,000 transactions per second (TPS), millisecond-level latency, and robust compute capacity. The platform ensures transaction settlement on Ethereum L1 while leveraging EigenDA for data availability.

BiT Global, a Hong Kong-based global custody platform, has filed a lawsuit against Coinbase over the delisting of WBTC, seeking $1 billion in compensation. The lawsuit alleges that Coinbase unfairly removed WBTC to prioritize its own wrapped Bitcoin product, cbBTC. The case was filed in the Northern District of California. Earlier this year, BitGo, the issuer of WBTC, transitioned ownership of the protocol to a joint venture involving BiT Global and Justin Sun. Following the transfer, major platforms, including MakerDAO, reduced their exposure to WBTC. Coinbase had announced that trading for WBTC on its exchange will cease on December 19, 2024.

OpenSea, the largest NFT marketplace by cumulative trading volume, has registered the OpenSea Foundation in the Cayman Islands. The move suggests the possibility of a future token launch. Establishing a foundation provides a legal entity that enables a DAO to engage with offchain systems, facilitating tasks such as token issuance, legal compliance, and administrative support.

• ACDC #146 writeup

• Nethermind client powers 50% of nodes

• Electric Capital Developer Report

• Intro to blockchain mechanism

• Ink teases mainnet launch

• pre-PIP to generate yield on bridge reserves.

• CoW DAO goes live on Base.

• ZKsync releases its 2025 roadmap.

• ELIP-002 for introducing slashing.

Allez Labs, a web3 risk management firm, published a Polygon Improvement Proposal outlining a strategy to generate yield using the $1.3 billion in stablecoin reserves held by the Polygon PoS Portal Bridge. The proposal seeks to gradually deploy the reserves into curated ERC-4626 liquidity pools, generating yield to fund an Ecosystem Incentives Program managed by Yearn. To ensure a conservative approach, DAI reserves will be held in Maker’s sUSDS vault, while USDC and USDT will use Morpho Vaults, curated and risk-managed by Allez Labs, with oversight from the Polygon Protocol Council. The generated yield will be bridged back to Polygon PoS and deposited into Polygon Ecosystem Vaults. The pre-proposal is currently open for community discussion.

CoW Protocol, an MEV-protecting DEX aggregator, is now live on Base as part of its L2 expansion roadmap. The launch features advanced order types on Base, including market, limit, and Time-Weighted Average Price orders. Originally launched in April 2021, CoW Swap leverages a network of solvers to match peer-to-peer orders. Users create intents for their orders through signed offchain messages. The intents are then fulfilled by a competitive network of independent fillers striving to secure optimal prices. Orders are grouped and processed offchain in batches to reduce gas costs. CoW DAO also plans to deploy CoW AMM on Base, introducing features like loss-versus-rebalancing (LVR) protection for LPs.

ZKsync published its 2025 roadmap outlining its plan to create a seamless, scalable, and decentralized Web3 ecosystem. Priorities include achieving EVM bytecode equivalence via BoojumOS for compatibility with Ethereum tools and multi-VM support. User experience enhancements will include biometric authentication, smart accounts, and ultra-low transaction costs of $0.0001. The roadmap targets scalability improvements, aiming for 10,000 TPS and Stage 1 rollup maturity with decentralized sequencing and forced inclusion mechanisms. Privacy will be improved with support for private validiums. Interoperability between public and private ZK chains will unify liquidity and eliminate dependence on third-party bridges.

• ACDC #147 highlights

• Teku v24.12.0 release

• 1m ETH bridged to Base

• EigenLayer published ELIP-002

• Odos DAO launch on 20th Dec.

• Celestia v3 live on Mainnet Beta 

• Raising gas limit to 36m

• Aligned donates 1.5% to Protocol Guild

• Sablier Introduces Flow

• Introducing Porto

• ENS Domain rentals

• Balancer V3 goes live on mainnet.

• Treasure launches its L2 on mainnet.

• AaveDAO approves PYUSD incentives.

• Frax Finance releases its roadmap.

Balancer V3, the latest iteration of the DEX featuring a new AMM and boosted pool architecture, is now live on Ethereum and Gnosis Chain. Balancer V3 introduces several innovations, including a transient accounting system via EIP-1153, re-entrant pool lifecycle hooks, native yield-bearing token support, fully boosted pools, and a flexible router design. Balancer V3 shifts core functions such as token management, fees, rate scaling, and liquidity operations, from the pool contracts into a unified vault contract. The unification ensures that all pools adhere to the same standards, maintaining consistent pool states across the protocol. Developers can now create custom pools and users can access boosted liquidity pools on Balancer V3.

Treasure, a gaming-focused rollup coined as the decentralized game console, is now live on mainnet. Treasure is built as an Elastic Chain on the ZK Stack, featuring a seamless UX, sponsored transactions, and access to unified accounts. Users can now bridge their assets from Ethereum and Arbitrum to Treasure. MAGIC, Treasure's native token, will be used for fee payments and underpinning the network’s economic security. Treasure is hosting a 2-week campaign featuring NFT mints from Treasure games and over 69,420 MAGIC in prizes to commemorate the launch. Treasure was previously the largest gaming ecosystem on Arbitrum.

The AaveDAO approved an incentive program for PayPal's PYUSD stablecoin. Eligible users will be able to earn an additional 4% APY rewards rate on PYUSD held on Aave v3 on Ethereum. The program also includes co-incentives on PYUSD and GHO liquidity. PYUSD is a dollar-denominated stablecoin backed by dollar deposits and short-term U.S. Treasuries and is issued by Paxos, a trust company under the regulatory oversight of the New York State Department of Financial Services. According to data from Coingecko, PYUSD's market cap stands at approximately $540 million.

• Frax Vision roadmap

• Aragon shares modular thesis

• Base gas target is now 18 Mgas/s

• Tips for changing gas limit

• Sprinter acquired project Blanc

• Farcaster adds threads

• Eco launches Routes

• Solo introduces Solo Chain

• Extended perps launch