• Unichain Holocene Network Upgrade on testnet.

• Eigen Labs proposes ELIP-001.

• L2Beat supports analytics for EspressoDA.

• Devcon publishes SEA highlights.

Unichain, Uniswap's DeFi-focused Layer 2 built on the OP Stack, is scheduled to activate the Holocene Network Upgrade on its testnet on December 18, 2024, at 22:00 UTC. The upgrade introduces Holocene Block Derivation, MIPS Contracts, and EIP-1559 Configurability, designed to improve functionality, performance, and scalability. The Holocene Block Derivation update simplifies the block derivation pipeline, optimizing worst-case performance for the Fault Proof System and improving cross-network interoperability. To ensure compatibility with the upgrade, node operators must update their op-node and op-geth software and properly configure the activation date.

Eigen Labs proposed the first EigenLayer Improvement Proposal (ELIP), which outlines a new Rewards v2 upgrade to the EigenLayer rewards system. The upgrade aims to enhance reward flexibility and utility within the ecosystem, addressing the limitations of the first rewards system. Key enhancements include implementing performance-based retroactive rewards, enabling operators to set custom reward fees for AVSs, introducing tailored programmatic incentives, and supporting gas-efficient claims for stakers and operators in a single transaction. The upgrade is currently under community discussion, with Eigen Labs to test its implementation.

L2Beat added support for analytics tracking for EspressoDA, a three-layer data availability (DA) solution powered by HotShot consensus from Espresso Systems. Live as part of the Espresso Network’s Mainnet 0 release, EspressoDA leverages Verifiable Information Dispersal to deliver enhanced performance and efficiency. Focused on providing Ethereum-level security, EspressoDA optimizes for high throughput, low latency, and bribery resistance. Chains leveraging Espresso for confirmations also have the option to integrate alternative DA solutions if desired. Future upgrades to EspressoDA are planned in early 2025, including transitioning to a proof-of-stake system and performance optimizations.

• Devcon SEA highlights

• EigenFoundation introduces Protocol Council

• Base increases gas target to 16.5 Mgas/s 

• Bitcoin hits $100,000

• Hey migrates to Lens V3

• Circle compliance with Canadian market rules

• Magic Eden airdrop checker

• Namada launches on mainnet

Unichain, Uniswap's DeFi-focused Layer 2 built on the OP Stack, is scheduled to activate the Holocene Network Upgrade on its testnet on December 18, 2024, at 22:00 UTC. The upgrade introduces Holocene Block Derivation, MIPS Contracts, and EIP-1559 Configurability, designed to improve functionality, performance, and scalability. The Holocene Block Derivation update simplifies the block derivation pipeline, optimizing worst-case performance for the Fault Proof System and improving cross-network interoperability. To ensure compatibility with the upgrade, node operators must update their op-node and op-geth software and properly configure the activation date.

This story was featured in Episode 602.

• Safe unveils the Safenet processor network.

• Fluid proposes a rebrand.

• EF ESP announces Q3 allocations.

• Arbitrum One hits $20 billion in TVL.

Safe unveiled Safenet, a transaction processor network designed to address the challenges of liquidity fragmentation and enhance cross-chain transaction capabilities. Targeting the ambitious goal of managing the world’s GDP onchain, Safenet can function on top of various blockchains, including Ethereum, alt-L1s, L2s, and even offchain networks such as Visa and Binance. The network will feature fast execution, unified asset balances, offchain channels, and customizable security policies. The alpha version of Safenet is slated for release in the first quarter of 2025. Safenet plans to launch across the entire Safe ecosystem, encompassing over 200 apps and the Safe{Wallet}, in the second half of 2025. Safe is the leading smart wallet provider, with more than 30 million accounts securing over $100 billion in assets.

Fluid, a DEX developed by InstaDapp, released a proposal aiming for a rebrand and strategic enhancements to accelerate growth in the new DeFi protocol. The proposal includes a buyback program that could use up to 100% of the protocol's revenue for buybacks. It sets a goal of achieving a $10 billion market size by late 2025 and plans to establish protocol-owned liquidity on the DEX. Since its mainnet launch in October 2024, Fluid has rapidly grown to a $1 billion market size. The Fluid DEX introduces innovative features such as Smart Debt and Smart Collateral, which allow users to convert their debt into trading liquidity by using it as collateral in AMM pools. The proposal is now open for community discussion.

The EF Ecosystem Support Program released an allocation update of projects that received funding in Q3 2024. A total of $12.8 million was allocated to 75 different projects. The grant categories include community education, cryptography, developer tooling, consensus layer, execution layer, and protocol support. Grant recipients include client teams, account abstraction teams, and Ethereum Protocol Fellowship. The EF Ecosystem Support Program (ESP) runs several initiatives focused on providing both financial and non-financial support to teams. Users building projects that enhance Ethereum can visit esp.ethereum.foundation to view funding opportunities.

For the first time, Aritrum One hit $20 billion in TVL. The milestone coincides with a recent rise in the price of ARB, alongside the overall market. ARB makes up nearly a quarter of the TVL given the token’s market cap of $4.3 billion. Arbitrum is not only the largest L2 by TVL, but it also holds the most bridged ETH among L2s. Base has risen as a competing rollup, which is now the second-largest rollup by TVL with over $12 billion in assets on the network. The overall TVL across all L2s has reached an ATH of $54.65 billion.

• Vitalik: What I would love to see in a wallet

• Everclear proposes token migration

• Succinct Network whitepaper

• Aztec Privacy-First CBDCs report

• ENS introduces Public Goods Builder Grants

• Optimism Superchain Registry

• Kain: Infinex V2

• Introducing Unclouded

• Alex Mashinsky pleads guilty