• Voting opens for the ZKsync Ignite proposal.

• Arbitrum concludes its Security Council elections.

• Lido introduces the stETH in DeFi hub.

Onchain voting is now open for the first ZKsync governance proposal, titled "ZKsync Ignite." The proposal aims to allocate 300 million ZK tokens as incentives over nine months on ZKsync Era. Submitted by rewards platform Merkl, the initiative seeks to enhance DeFi liquidity and increase TVL on ZKsync Era and across Elastic Chains. The total allocation for the program includes 325 million ZK tokens, with 25 million designated for administrative expenses. Merkl is set to manage the program, handling website operations, reward distribution, and technical support. A DeFi Steering Committee (DSC) would oversee token allocations and assess the program's performance. Voting on the proposal ends on November 12, 2024.

Arbitrum concluded elections for the rotation of six members of the 12-member Arbitrum Security Council. The new members are Dennison Bertram of Tally, Griff Green of Giveth, Emiliano Bonassi of Conduit, Gzeon of Offchain Labs, and Immunefi. John Morrow of Gauntlet was also re-elected for another term. The Security Council is tasked with making expedited protocol upgrades during emergency situations. Upgrades executed by the security council do not need approval from the Arbitrum DAO but are subject to a short delay period. The council can also make non-emergency upgrades. Six members are rotated every six months.

Lido launched the stETH in DeFi hub, a new dashboard that consolidates yield opportunities for using stETH across the DeFi ecosystem. The hub brings together protocols that support stETH into a single, user-friendly interface, allowing users to easily view protocol TVLs, supported assets, APRs, and available rewards. The dashboard highlights a range of DeFi options, including lending and borrowing protocols like Aave, diversified rewards protocols like Stakehouse, restaking protocols like Renzo, and leveraged staking protocols. As the DeFi space expands, Lido plans to maintain the dashboard to include new stETH use cases.

• Gnosis considers Becoming L2

• Devcon is one week away

• Eigen Economy Dashboard

• ETHGlobal Bangkok $750k prize pool

• Parallel Block Building

• Reth v1.1.1 release

• Implications of a Competitive Blob Market

• Rocket Pool regains X account

• Two researchers drop EigenLayer advisorship.

• Conduit introduces Account Abstraction features.

• A state pension fund buys ETHE.

• ArbitrumDAO approves 5m ARB for Stylus Sprint.

Ethereum researchers Justin Drake and Dankrad Feist announced their resignation from their advisory roles at EigenLayer. Drake also stepped down from his position with the ultra sound relay. The move aims to eliminate potential conflicts of interest and reinforce their commitment to Ethereum Layer 1 research. The resignations follow community concerns raised in May 2024 regarding their advisory roles at EigenLayer, which included substantial EIGEN token compensation. The researchers announced their dedication to maintaining neutrality and alignment with the Ethereum community. The resignation took effect in September 2024.

Conduit, a rollup-as-a-service provider, introduced account abstraction support to enhance the user experience for rollups. The release includes two core components: the Conduit Bundler and ZeroDev Smart Accounts. The Conduit Bundler bundles multi-transaction operations by leveraging UserOperations as specified by ERC-4337. ZeroDev Smart Accounts is a modular solution that enables features like gasless transactions, session keys, chain abstraction, and social recovery. Together, the new features allow rollups to provide seamless onboarding, flexible gas payment options, and simplified transactions, helping to lower entry barriers for users. Rollup teams can access the features through a $500/mo Conduit package.

Matthew Sigel, Head of Digital Assets Research at VanEck, uncovered that the State of Michigan Retirement System recently purchased 460,000 shares of the Grayscale Ethereum Trust (ETHE), valued at approximately $10 million. The fund also bought another 460,000 shares of the Grayscale Ethereum Mini Trust, increasing its total ETH-related ETF holdings to about $11 million. The purchase places the pension fund among the top five holders of the ETHE ETF, as revealed in a recent 13F regulatory filing by the State of Michigan.

The ArbitrumDAO approved a 5 million ARB token grant allocation for the Stylus Sprint program, an initiative that rewards teams building on Stylus. Applications for the program will open on Monday, November 11, 2024.  Applications will be assessed by an evaluation committee featuring members from Offchain Labs, OpenZeppelin, SEEDGov, JoJo, and Entropy Advisors. Arbitrum Stylus is a general-purpose programming environment that enables developers to write applications in any WASM-compatible language, unlocking advanced smart contract development with lower gas costs and access to tools previously unavailable on the EVM.

• Ethereum's distinctive property is hardness

• SSF is not about "Single" Slot

• Kraken 2024 Proof of Reserves

• OpenSea teases new release

• Beaconcha.in validator monitoring dashboard

• Unichain testnet sees 16m txs

• Etherscan releases diamond proxy support

• Risk Rosette upgrade for Base

• UBS tokenized fund on Ethereum.

• Succinct introducing OP Succinct with Celestia DA.

• The Argot Collective spins out from the EF.

• uni.eth hits 1 million subnames.

  

Succinct Labs introduced support for integrating OP Succinct with Celestia as a data availability (DA) layer and Conduit for fast sequencing. OP Succinct allows any OP Stack chain to upgrade from an optimistic rollup to a ZK rollup with minimal development effort, enabling OP Stack chains to evolve into a Type 1 zkEVM and leverage Celestia for high-throughput data availability. The custom DA layer is implemented through an adapter that enables any OP Succinct rollup to use Celestia DA. The implementation uses Alt-DA Mode within the OP Stack, allowing DA layer teams to manage a DA Server, which oversees interactions with the OP Stack and handles custom logic and key management. Alt-DA Mode is designed to lower transaction costs by using a data market priced independently from Ethereum blobspace.

The Argot Collective introduced its non-profit focused on supporting free and independent Ethereum software, spinning out from the Ethereum Foundation. The new collective will oversee Ethereum projects related to compiler engineering, verification, and programming languages, including Solidity, Fe, and Sourcify. Argot will maintain a democratic governance structure and is founded by 25 current Ethereum Foundation employees. Argot is funded by a long-term grant from the Ethereum Foundation intended to support operations over the next 5 to 10 years. Argot is committed to transparency, publishing financial information, and project roadmaps.

Union Bank of Switzerland (UBS) launched its first tokenized investment fund, the UBS USD Money Market Investment Fund Token (uMINT), on Ethereum. uMINT provides investors with access to a tokenized, institutional-grade cash management solution, emphasizing a conservative and risk-managed approach, and is available through its authorized distribution partners. The launch reflects the increasing demand for tokenized real-world assets and marks UBS’s effort to expand market access to digital assets. UBS has over $3 trillion in assets under management.

• Uni.eth hits 1m subnames

• Story of Saclier Mainnet

• Velodrome YBA incentices

• Base hits $450b USDC tx volume in Oct.