• Aztec Network goes live on Devnet.

• Obol introduces a staker contributions program.

• DeFi Saver releases a Tx Saver.

• Safe reaches 10 million Smart Accounts.

Firefly is a one-stop Web3 social aggregator developed by Mask Network. Use one feed to connect with all users across Twitter, Lens, Farcaster, and all Web3 socials. Try it today at firefly.social.

Aztec Network, a privacy-focused Layer 2 solution, is now live on Devnet, enabling private, client-side smart contract execution with public verifiability. The launch features integrations with the Honk zk-SNARK protocol, the Noir Rust-based smart contract language, a private execution environment, and a sequencer. In conjunction with the launch, Aztec introduced the Alpha Build program—a developer sprint series with a $100,000 prize pool for creating and deploying on the Aztec Network. The first Alpha Build begins on Monday, August 19th, and will focus on the development of user interfaces, programmable accounts, and fee abstraction.

Obol Network introduced the Obol Contributions Program, a program that offers stakers recognition for their role in decentralizing Ethereum by staking on Obol distributed validators (DVs). Obol is also offering its stakers access to future governance rights within the Obol Collective. Users can stake by depositing into third-party vaults from partners like Stakely, Mellow Protocol, or Chorus One, or by deploying a DV directly via Obol’s DV Launchpad. In May, Obol introduced the 1% for Decentralization (1forDS) retroactive fund, which allocates 1% of staking rewards from Obol’s DV clusters into a funding pool aimed at supporting decentralization. Obol’s distributed validators improve Ethereum’s fault tolerance by distributing a validator's key across multiple nodes.

DeFi Saver introduced TxSaver, a new tool for executing MEV-protected transactions on the platform. The feature streamlines the user experience by allowing gas payments in the same assets involved in the transaction and requires only a user signature to execute. TxSaver also covers any fees associated with failed transactions. Using an MEV-Protecting RPC, TxSaver protects users against MEV attacks during swaps. The tool is available on Ethereum mainnet and Arbitrum for transactions within DeFi Saver, including position boosts, loan repayments, leveraged positions, and swaps. DeFi Saver serves as a dashboard for managing assets across protocols like Aave, MakerDAO, and Morpho.

Safe, the leading smart contract wallet provider, has surpassed 10 million smart accounts on its protocol, with over half deployed on OP Mainnet. Safe secures more than $66 billion in assets across 15 supported chains. Originally known as GnosisSafe, the provider spun out from GnosisDAO after raising $100 million in 2022.

• Aave launches Arbitrum LTIPP

• ARB staking proposal vote is live

• MakerDAO vote to reduce WBTC debt ceiling

• Lighthouse tree-states explainer

• Jesse’s Dream Wallet framework

• Dora EL/CL data explorer

• A trustless on-chain anti-MEV solution

• Essential raises $11 million

• The MetaDEX and DeFi

• SuperchainERC20 universal token standard.

• EigenLayer activates AVS rewards on mainnet.

• Symbiotic goes live on devnet.

• CoinCenter wins 6050i appeal.

Firefly is a one-stop Web3 social aggregator developed by Mask Network. Use one feed to connect with all users across Twitter, Lens, Farcaster, and all Web3 socials. Try it today at firefly.social.

OP Labs unveiled its plans for bringing native interoperability to the OP Stack, aiming to create a unified Superchain user experience across OP Stack chains. Native interoperability will enable assets, data, and users to be portable between chains. The implementation consists of a cross-chain message-passing protocol, the Superchain ERC20 token standard, a shared fault-proof system, and a network of interconnected chains. SuperchainERC20 is a universal token standard that enables tokens to be portable and fungible across different chains within the Superchain, improving security and eliminating the need for multiple bridged asset versions. OP Labs will launch an initial devnet for the message-passing protocol, followed by a testnet phase, and a mainnet launch for native interoperability next year.

EigenLayer activated rewards for Actively Validated Services (AVSs) on mainnet, allowing restakers and node operators to earn rewards for their contributions. The launch includes a UI update for tracking and claiming rewards. EigenDA will be the first AVS to launch rewards through its Base Rewards Program on August 13th. EigenDA Rewards will start with a 10 ETH pool per month and will gradually increase to cover total estimated operator expenses of $160,000. EigenDA also aims to qualify for future programmatic incentives, which will distribute 4% of the total EIGEN supply. EigenDA is the largest AVS with 3.7 million ETH in delegated stake. The $EIGEN token is expected to become transferable by September 30, 2024.

Symbiotic, a restaking shared security protocol, is now live on devnet, allowing developers to test and integrate its slashing, rewards, and staking architecture. The protocol's flexible modular framework enables networks to customize security parameters, collateral assets, asset ratios, node operator selection, rewards, and slashing mechanisms. Since launching its core contracts and opening for deposits in June, Symbiotic has attracted over $1 billion in TVL. The mainnet launch is anticipated for Q3 2024.

Coin Center won an appeal against the IRS's Form 6050I reporting requirement, which mandated that all business digital asset transactions of $10,000 or more be reported to the IRS within 15 days. The Sixth Circuit Court of Appeals ruled in favor of Coin Center, enabling the case to move forward. Coin Center also highlighted that the revised IRS Form 1099-DA no longer requires unhosted wallet providers to report transactions.

• Cross-L2 calls specification

• Geth v1.14.18 release

• Two years since Pertsev was arrested

• Farcaster releases app discovery

• DeFi Saver supports Morpho Vaults

• Protocol Guild donations overview

• Coinbase One offers $10 in gas fees

• deBridge DBR airdrop checker

• Base commemorates one year.

• Universal goes live on Arbitrum.

• Puffer Finance adopts xERC20.

• IRS releases revised Form 1099-DA.

Listen on: Apple | Spotify | Castbox | YouTube 

Base, a layer 2 network by Coinbase built on the OP Stack, has been live for one year. Since opening for all users, Base has surpassed $6 billion in TVL, overtaking OP Mainnet to become the second-largest rollup by locked value. Base has processed over 500 million transactions and generated over 16,000 ETH in sequencer revenue. Throughout the past year, Base has implemented upgrades like EIP-4844, RIP-7212, and enhanced data compression, which have significantly reduced transaction fees. The improvements have brought transaction costs down to as low as $0.01 for most token transfers on the network. To celebrate its first anniversary, Base released a limited-time One Year On Base NFT on Zora.

Universal, a wrapped asset protocol, is now live on Arbitrum. The protocol enables the trading of wrapped versions of non-EVM assets such as SOL, DOGE, and BTC on various chains. Universal uses a mint-and-burn mechanism to address the issues of locked liquidity, without relying on traditional bridging mechanisms. The protocol is operated by Custodians, who custody the the underlying assets, and Merchants, who serve as liquidity providers and facilitate the minting and burning. Universal aims to replicate CEX-level performance and pricing. The protocol is currently in a mainnet beta phase with initial support for 19 assets.

Puffer Finance has adopted the xERC-20 bridge token standard for its liquid restaking token, pufETH. The standard allows for seamless token bridging without requiring multiple representations of the same asset, enabling users to transfer pufETH across chains with minimal slippage. It allows Puffer to support restaking deposits from any chain. xERC-20, also known as ERC-7281, is an extension of the ERC-20 standard. It was developed by the interoperability protocol Everclear (formerly Connext Network). It enables token issuers to manage bridges, set minting limits, and authorize approved bridges to mint the same token representation, allowing protocols to maintain control over their token contracts.

The IRS has issued a revised version of Form 1099-DA, a proposed tax-reporting form that mandates digital asset brokers to report information to the IRS and provide users with a summary of taxes owed. The revision removes the need for detailed information, such as wallet addresses and transaction IDs, to be reported, which were initially required in the first draft. The IRS is open for public comment on the revised draft before it is implemented in 2025.

• ACDC #139 recap

• EIGEN Season 1 claims close in 1 month

• ENS announces frENS day

• SEC subpoenas three crypto VCs

Follow us on X, Lens, and Farcaster.