• Succinct Labs introduces OP Succinct.

• Optimism activates the Granite Network Upgrade.

• Aave governance proposes to onboard cbBTC.

• Nethermind launches Nethermind Security.

Succinct Labs formally introduced OP Succinct, a solution that enables the upgrade of any OP Stack chain from an optimistic rollup to a ZK rollup with minimal development effort. Developers can easily integrate ZKPs into their OP Stack chain using Rust, resulting in a zkEVM rollup. OP Succinct offers sub-cent transaction costs, fast finality, reduced transaction proving times, and full EVM compatibility. The implementation reuses the OP Stack's proven components and requires only minimal code changes, ensuring both security and ease of maintenance. OP Succinct is fully open-source under an MIT license.

The Granite Network Upgrade is now live on OP Mainnet, restoring permissionless fault proofs for the rollup. The upgrade addresses security vulnerabilities discovered in the network’s Fault Proof System during audits by Spearbit, Cantina, and Code4rena. The upgrade involved changes to the L1 smart contracts. While user assets were not at risk, OP Labs activated the permissioned fallback mechanism as a precaution. The fallback temperarily restricted output proposals to be handled by the Optimism Foundation. 

Aave governance proposed to onboard Coinbase's new wrapped Bitcoin asset, cbBTC, to the Aave V3 markets on both Base and Ethereum Mainnet. With Coinbase planning to launch cbBTC in the coming weeks, the proposal aims to diversify DeFi options for Bitcoin holders on Aave v3 by providing an alternative to WBTC. The move comes as Aave has previously considered reducing its exposure to WBTC, following BitGo’s announcement of transferring control of WBTC to a joint venture involving BitGo, Justin Sun, and the Tron ecosystem. MakerDAO has already disabled new loans backed by WBTC collateral as a precautionary measure.

Ethereum research firm Nethermind launched Nethermind Security, a specialized unit focused on providing comprehensive security services such as smart contract security audits, architecture assessments, formal verification, and real-time monitoring. Nethermind Security will build real-time monitoring bots aiming to safeguard projects by identifying early vulnerabilities.

• EtherFI releases a Season 3 update

• A rare Cryptopunk sells for 10 ETH

• Sky Aave Force will list USDS

• Hardhat VSCode extension release 

• Privy releases account manager

• Stakestark LST on Starknet

• PayPal and Venmo now support ENS domains.

• ZeroDev introduces Magic Account.

• Eigen Labs introduces a new security model.

• Zora releases its mobile app for all users.

Payment platforms PayPal and Venmo now support ENS domains, enabling users to send crypto directly to .eth addresses from the apps. The integration automatically translates ENS names into their corresponding hexadecimal wallet addresses, simplifying transactions. The feature is initially available to U.S. users. Users can also save frequently used ENS names in an address book for easier access. By replacing complex hexadecimal addresses with easy-to-read names, ENS reduces the risk of errors and phishing attempts when executing transactions. So far, over 2 million primary ENS domains have been registered.

ZeroDev introduced Magic Account, a chain-abstracted smart wallet that offers a unified balance across multiple chains, allowing users to spend tokens on any chain without the need to bridge or manage gas tokens. The implementation leverages intents powered by Socket Protocol, allowing solvers to batch bridge transactions. According to ZeroDev CEO Derek Chiang, the system works on a "spend first, repay later" model, where solvers first fulfill a user's intent and later claim the funds from the source chain. ZeroDev also uses the ERC-7579 standard to ensure interoperability across different wallets. A demo of the Magic Account wallet is now live for L2 transactions.

Eigen Labs introduced the EigenLayer Security Model, a redesign for handling slashing events on the protocol. It focuses on three main components: Operator Sets, Total Stake, and Unique Stake. The model weighs votes from both Total and Unique Stakes to increase the cost of attacks while ensuring a slashing penalty for misbehavior. Operator Sets are groups of operators given delegated staked ETH to perform tasks for AVSs. Operators can earn rewards or face penalties based on their performance. Total Stake is the combined ETH delegated to all operators in a set, while Unique Stake is the portion of an operator's ETH that can be slashed if they misbehave. Slashing is not yet live on EigenLayer mainnet.

Zora launched its mobile app for all users, enabling easy onchain onboarding and content posting with just an email address. The app includes a seedless wallet powered by Privy, allowing users to fund their accounts via Apple Pay and publish NFTs for free on Zora Network. Creators can also withdraw funds directly to Coinbase. The app is designed to streamline the minting process, minimizing popups and reducing friction.

• EF AMA responses

• Nansen acquires Stakewithus

• Fabric real-time zk for Agglayer

• USDC daily volume hits $7b

• Basenames hits 400k registrations

• Brian Armstrong on why Base

• Aave launches a custom EtherFi pool.

• Scroll will power EtherFi’s credit card.

• ENS Labs releases an update for ENSv2.

• Tim Beiko announces EF Protocol Support hires.

Aave governance deployed a custom EtherFi weETH pool instance on Aave V3, allowing users to borrow stablecoins such as USDC, PayPal USD, and FRAX against weETH collateral on Ethereum mainnet. The deployment marks Aave’s second custom market, following last month’s introduction of the Aave V3 Lido market. The custom market enables the Aave DAO to adjust collateralization and interest rate parameters specifically tailored to the isolated market. It supports leverage looping, e-mode, and an isolated market structure, reducing cross-collateral risks from other tokens. The launch aims to enhance liquidity, optimize borrowing, and contribute to Aave’s TVL.

EtherFi announced that it will leverage Scroll's EVM-equivalent ZK Rollup to settle transactions for EtherFi Cash, its new credit card product. The solution allows users to spend and borrow against their EtherFi restaking balances. EtherFi Cash is comprised of a mobile wallet linked to a Visa credit card. Users can either borrow USDC against their EtherFi assets or convert their assets directly into USDC for spending. Visa cards for EtherFi Cash are expected to begin shipping later this month. Currently, EtherFi holds over $5.6 billion in total value locked (TVL), nearly five times that of Scroll, which has $1.1 billion in TVL.

ENS Labs released an update on ENSv2, an upcoming protocol upgrade that will extend the naming service to Layer 2. The team has identified six key criteria for the launch, including EVM compatibility, CCIP-read support, open-source development, the ability to exit to Layer 1, sequencer decentralization, and finality. Currently, there are three potential paths for the L2 expansion: deploying ENS on an existing ZK chain, launching its own instance of a ZK chain using an existing tech stack, or developing a custom zkVM rollup. ENS Labs has ruled out optimistic rollups but is still open to hybrid optimistic and ZK rollup solutions. It is now focused on benchmark testing and seeking funds from the ENS DAO.

Tim Beiko, lead of the ACD calls, announced the Ethereum Foundation's latest Protocol Support hires: Nixo from Ethstaker and Sophia Gold. Both will assist in managing network upgrades, AllCoreDevs calls, the Ethereum Protocol Fellowship, and the Summer of Protocols programs. The new roles will help expand the Protocol Support team's capacity to launch new initiatives.

• Arbitrum releases the first Stylus NFT

• Erigion 2.60.7 release

• EthereumJS EVM v3.1.1 and VM v8.11 releases

• Onchain Summer Recap

• Mike Neuder's Ethesis