• Ethereum Follow Protocol public testnet.

• Aave proposes a GHO integration with BlackRock BUILD.

• CFTC enforcement action against Uniswap.

• EF plans to release a financial report.

The Ethereum Follow Protocol, a wallet-to-wallet social graph for Ethereum, is now live on testnet and open to all users. The release allows users to sign in with their Ethereum wallet to follow others, block wallets, and check their leaderboard rank. EFP enables users to create and manage follow lists through EFP List NFTs. The protocol integrates data from ENS records, displaying profile information such as profile picture, bio, and social links. Users can also import follow lists from Farcaster and Lens Protocol. The beta release aims to stress test the protocol, and actions taken during the beta will not carry over to the mainnet. Users can also claim an EFP Beta Tester POAP NFT for using the protocol.

A temperature check vote is now live in the Aave DAO for the proposed deployment of a GHO Stability Module (GSM) integrated with BlackRock’s BUIDL fund. The proposal aims to generate additional yield on GHO reserves by reallocating surplus USDC from idle GHO pairings into BlackRock's BUILD, a tokenized fund offering onchain access to U.S. Treasury bills. With over $500 million in issuance, BlackRock's BUIDL fund would expand the Aave DAO’s yield sources into real-world assets. The proposed GSM would facilitate 1:1 swaps between USDC and GHO, using the surplus USDC to mint BUIDL tokens. Voting for the proposal concludes on Monday, September 8th.

Coin Center noted that the CFTC’s recent action against Uniswap Labs, over enabling users to trade leveraged tokens, fails to provide clear guidance or establish a legal precedent regarding which activities trigger regulatory obligations under the Commodity Exchange Act (CEA). Coin Center says it leaves developers uncertain about how to comply with the law. The case raises concerns about potential violations of free speech, as recent enforcement actions have targeted developers for the actions of third parties using their code or front-end interfaces. Uniswap Labs settled the case by paying a $175,000 fine. However, Coin Center pointed out that similar actions against Opyn, 0x, and Deridex did not clarify the CFTC’s regulatory authority.

• EF to release a financial report

• Solidity & Vyper compiler bug bounty

• EIP-7736 state growth solution

• Pudgy 1,000 Day Club Soulbound

• Celestia releases its roadmap to 1GB blocks.

• Paper on what impacts crypto prices.

• Erigon releases Erigon 3 Alpha 3.

Celestia introduced its roadmap to scale to 1GB blocks, aiming to dramatically increase data throughput and reduce transaction fees for rollups. As a modular data availability blockchain, Celestia allows rollups to use any virtual machine for their execution layer. Celestia’s first upgrade, named Lemongrass, is currently in development. The roadmap to 1GB blocks will involve multiple technical upgrades, including a content-addressable mempool, node sharding, and an enhanced data availability sampling protocol. In addition to scaling, Celestia aims to ensure its blockspace is verifiable by anyone, on any device, through light nodes that can run in web browsers. 

Uniswap, in partnership with Copenhagen Business School, released a research paper titled "What Drives Crypto Asset Prices?." The study examines the effects of conventional monetary policy shocks, risk premium shocks, and crypto-specific demand shocks on the market. The research found that monetary policy significantly influences cryptocurrency returns. It found that crypto adoption shocks lead to increases in both crypto prices and stablecoin market capitalizations. The also paper noted a growing disconnection between cryptocurrency markets and traditional financial. It concluded that stablecoins have become safe-haven assets within the crypto ecosystem.

Erigon released Erigon 3 Alpha 3, the latest version of its all-in-one EVM node, supporting both the execution and consensus layers. The release introduces mining support, a 30% reduction in state size, significantly reduced RAM usage, and a 50% decrease in chain data size. A full node resync is required for the updates to take effect. Erigon 3 is optimized for use as an archive, full, or pruned node, featuring ultra-fast RPC calls and the capability to handle over 1Ggas/sec in block production.

• Introduction to SNAXchain

• EigenDA 16mb Blobs

• Embedded fee markets and ERC-4337

• ETH Global Scalability Summit

• Gelato Native Oracle Module on Base L3s

• Coinbase FOIA litigation update

• Coinbase security against DPRK

• Polygon upgrades MATIC to POL.

• EIGEN Season 2 Stakedrop.

• Liquity releases its V2 codebase.

• Base commits to increasing its gas target.

Polygon successfully upgraded the staking contract for the Polygon PoS network, changing the primary staking and gas token from MATIC to POL at a 1:1 ratio. The token migration is automatic for MATIC holders on Polygon PoS. Users may need to update their wallet settings to reflect the new token ticker. Users with MATIC on Ethereum can migrate their tokens using the Polygon Portal. There is no deadline for users to migrate their tokens. POL is a new hyperproductive token that will enable validators to validate multiple ZK chains. The migration is part of Polygon’s 2.0 roadmap, which transitions the PoS Chain into Polygon ZK-EVM as part of the AggLayer. In subsequent upgrades, POL will be used to support roles in block generation, data availability, and ZKP generation.

The Eigen Foundation announced the EIGEN Season 2 Stakedrop, distributing 86 million EIGEN tokens to stakers, operators, ecosystem partners, and community members. Users who staked or operated on the protocol between March 15 and August 15, 2024, can claim their share of 70 million EIGEN tokens starting September 17, 2024. Ecosystem partners will also be able to claim their tokens starting on September 17, 2024. Community members, including open-source contributors, early advocates, and podcasters, must verify their social identity on the Eigen Foundation website by September 11, 2024. EIGEN, coined as the Universal Intersubjective Work Token, is anticipated to become transferable in the coming month.

Decentralized borrowing protocol Liquity released its V2 codebase, enabling developers to build on the protocol. Liquity V2 introduces user-set interest rates and multiple collateral support, including rETH and wstETH. Liquity V2 will also support BOLD, its new yield-bearing stablecoin that will coexist alongside the existing LUSD stablecoin Liquity V2 introduces Protocol Incentivized Liquidity (PIL), which allows LQTY stakers to direct subsidies from protocol interest revenue while still earning fees and rewards. Like Liquity V1, Liquity V2 will remain governance-minimized and immutable.

Base committed to increasing the network’s gas target by 1 million gas per second (Mgas/s) each week, beginning in late September 2024. The increase will expand the capacity per block, allowing more transactions to be processed while reducing network congestion. By the end of the year, the update is expected to bring capacity to 30 Mgas/s.

• Solidity v0.8.27 release

• Privy cross-app wallet connector

• Euler V2 goes live

• Etherscan Stylus Contract Verification

• Namespace opens for all

• Penpie exploit post-mortem

• Ethereum Film NY premiere

• Octant x Gitcoin QF Round