• Franklin Templeton deploys a fund on Arbitrum.

• Superchain members hand over their upgrade keys.

• Hyperlane introduces its HYPE protocol token.

• NounsDAO celebrates its third anniversary.

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Franklin Templeton launched its OnChain U.S. Government Money Fund (FOBXX) on the Arbitrum One network. The fund provides tokenized access to investments in U.S. Treasury securities and repurchase agreements, with shares trading under the ticker BENJI, maintaining a stable price of $1 per share. Available to both retail and institutional investors through the Franklin Templeton platform, BENJI currently offers a 7-day Effective Yield of approximately 5.27%. The fund has a market capitalization of over $400 million. Arbitrum One is the leading Layer 2 network by TVL with over $14.6 billion in assets. Franklin Templeton is an asset manager with over $1.5 trillion in assets under management.

Superchain members Mode Network, Zora, and Metal L2, have transferred their upgrade keys to the Optimism Security Council. The move advances the chains toward Stage 1 rollup decentralization, which is achieved once they have a functional proof scheme and a multi-sig override mechanism, such as the Security Council. The Optimism Security Council, composed of 13 members, oversees the management of upgrade keys for OP Stack chains within the Superchain. A quorum of approximately 75% of member signatures is required to execute emergency protocol upgrades. OP Mainnet has already reached Stage 1 rollup decentralization and is now progressing toward Stage 2. Base aims to activate fault proofs by the end of the year.

Interchain messaging protocol Hyperlane introduced the Hyperlane Foundation and its native protocol token, HYPE. The foundation's mission is to oversee and expand the Hyperlane network. The HYPE token aims to promote a developer-owned network, aligning the interests of users and developers. The Hyperlane Foundation will establish the Hyperlane Alliance, a group responsible for representing user interests and managing a grants program that rewards significant contributions to the protocol. Hyperlane aims to tackle the fragmentation and security challenges of bridging between rollups by facilitating seamless cross-chain arbitrary messages and contract calls.

Nouns, a generative NFT project that auctions a new NFT every 24 hours, has reached its third anniversary since launching on August 8, 2021. The project has auctioned over 1,000 NFTs, with all proceeds directed into the NounsDAO treasury, which currently holds nearly 5,000 ETH. Each Nouns NFT holder has voting rights on DAO proposals. The Nouns NFTs are in the public domain under a no-copyright reserved license, enabling anyone to create and sell derivatives.

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• Uniswap Wallet swap issues

• Clave launches clv.eth subnames

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• Zora introduces secondary markets.

• Arbitrum Orbit supports USDC for gas payments.

• Polynomial Superchain goes live.

• Candide introduces a Safe recovery module.

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Zora, an NFT tooling platform, launched a protocol upgrade that introduces secondary markets for NFTs. The release enhances post-mint value for creators and collectors by providing instant liquidity via Uniswap, creating a more efficient and liquid market for NFTs. It also features built-in secondary market rewards for creators. The default NFT mint fee has been lowered to 111 Sparks, equivalent to 0.000111 ETH. From the fee, 10% is allocated to a Uniswap liquidity pool for the NFT. The functionality is implemented through an extension of ERC-1155 called ERC20z. The standard allows NFTs to be wrapped into ERC-20 tokens or unwrapped back into ERC-1155 tokens, enabling seamless trading via Uniswap.

Arbitrum Orbit, a tech stack for deploying L2 and L3 chains, now supports bridged USDC as a custom gas token. USDC is also supported as a gas token option when deploying Orbit chains using rollup-as-a-service platforms AltLayer, Caldera, and Conduit. Arbitrum Orbit allows developers to build using WASM smart contracts, including in languages such as C++ and Rust. While chain developers can assign any ERC-20 token for gas payments, using USDC provides users with minimal price volatility, increased liquidity, and improved accessibility. Developers who use USDC for their chain’s gas token may also qualify for Circle’s USDC Grant Program, which offers up to $100,000 in funding.

Polynomial Superchain, an OP Stack chain developed by the perpetual swaps exchange Polynomial Protocol, is now live and open for deposits. Users can participate in an Initial Liquidity Event by depositing and staking USDC, sDAI, and sUSDe. Users who have earned retroactive points can claim them by making a deposit to the chain. The liquidity raised from the event will support Polynomial Trade, the protocol's flagship perpetual futures exchange. The derivatives-focused rollup features a native liquidity layer, allowing applications to access shared network liquidity. Withdrawals for the network are not yet live.

Candide Labs introduced a Social Recovery Module for Safe smart accounts, featuring ERC-4337 compatibility and support for gas payments via Paymasters. The module allows for multiple guardians, custom recovery periods, and the use of externally-owned accounts as guardians. Developers can integrate the module into their applications to enable users to set up account recovery during the account creation process.

• Block building research

• GG21 goes live

• Blockscout raises $3m

• Ripple settles with SEC

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• Succinct SP1 is production-ready.

• Erigon introduces OtterSync.

• Optimism introduces Kona fault prover.

• Viem experimental support for EIP-7702.

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SP1, a general-purpose zkVM by Succinct Labs, is now production-ready. SP1 facilitates the development of zero-knowledge proofs using Rust, enhancing code maintainability, auditability, and adaptability. According to Succinct Labs, SP1 can process proofs up to 10 times faster and cheaper than competing zkVMs. SP1 has secured over $1 billion in TVL and processed over 10,000 proofs. It is used by Polygon to generate pessimistic proofs on the AggLayer and is built on Polygon's Plonky3 proving system. Verifying an SP1 proof on Ethereum requires only 275k gas. SP1's code is open-source and available for developers to use.

Erigon introduced OtterSync as part of its Erigon 3 alpha 2 release. OtterSync is a new synchronization algorithm that speeds up the setup of both full and archive Ethereum nodes. OtterSync shifts the initial synchronization load from the CPU to network bandwidth. The efficiency is achieved by downloading state data through secondary protocols like BitTorrent instead of direct execution. OtterSync enhances data distribution and verification processes, reducing the frequency of required software updates while improving data availability and maintaining the integrity of the network. The alpha 2 release also brings improvements to chain tip performance, disk usage, and block importing times. Erigon 3 is an all-in-one EVM node that supports both execution and consensus layers.

Optimism introduced a new fault-proof program named Kona and a virtual machine called Asterisc as part of its multi-proof system. Kona enhances the verification processes and secures reliable state transitions throughout the growing network of OP Stack chains. The Asterisc VM is designed to authenticate the execution of RISC-V programs using interactive fraud-proofs. The multi-proof system follows the principle of client diversity in Ethereum, by adding redundancy to enhance fault tolerance and remove single points of failure. Optimism initially enabled fault proofs on mainnet in June, advancing it to a stage 1 rollup. Kona and Asterisc are currently in a development phase and are not yet production-ready.

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• Optimism DAO research

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• ETHFI announces Season 3

• Flashbots Ethcc presentation

• Tally Protocol Redelegation

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