• Synthetix launches the USDx stablecoin.

• BGD Labs evaluates zkSync Era readiness for Aave V3.

• Pinata Cloud releases a Content Attestation Plugin.

• 3DNS receives ICANN accreditation.

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Derivatives liquidity protocol Synthetix launched USDx, its protocol stablecoin native to Arbitrum. Users can deposit ARB, USDC, USDe, or ETH as collateral to mint and borrow USDx at 0% interest. The zero-interest rates, subject to change in the future, allow depositors to access additional liquidity while continuing to accrue yield on collateral. USDx will also serve as collateral for trading Synthetix Perps once the derivatives market goes live. Users can also provide USDx liquidity in other markets like Curve to earn additional fees. Arbitrum has risen as the top chain by TVL on Synthetix V3 with nearly $30 million in deposits. The launch of Synthetix Perps on Arbitrum is expected in the coming months.

BGD Labs, a contributor to the Aave protocol, released a technical evaluation for supporting zkSync Era on Aave V3. The evaluation covers network security, bridging, oracle, wallet, and RPC infrastructure. The report highlights that zkSync Era is equipped with Chainlink price feeds and is compatible with Ethereum’s JSON-RPC standard. zkSync Era is also supported by multiple block explorers, numerous RPC providers, and major EVM wallets, including smart accounts with Safe. Areas for improvement include constant tooling development updates and technical maintenance overhead. BGD Labs concluded that zkSync Era is suitable for an Aave V3 deployment.

Pinata Cloud, an IPFS storage platform, released the Content Attestation Plugin, an IPFS Gateway tool for attesting to the authenticity and provenance of content. The plugin provides an interface for users to sign and verify IPFS files using their Ethereum wallet, simplifying the process of verifying the origin of files. It ensures that anyone can trust the content as long as the signature is valid. The Content Attestation Plugin is available on the Plugin Marketplace for Pinata users. IPFS is a distributed file system for storing permanent data labeled by a unique content identifier.

• Inclusion list timing constraints

• 3DNS receives ICANN Accreditation

• zkSync introduces ZK Fest

• ACDE #193 writeup

• EIP-7732 breakout notes #6

• Euro bond issuance on Polygon

• $879b wiped out from stock market

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• EURC goes live on Base.

• Developers prepare for Pectra Devnet 3.

• Coinbase releases its Q2 earnings report.

• Morpho Labs raises a $50m funding round.

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Circle launched EURC, its Euro-pegged stablecoin, on Base mainnet. The stablecoin is compliant with Europe's Markets in Crypto Assets (MiCA) regulation and is issued by Circle France. Qualified financial institutions can now mint and burn EURC directly on Circle Mint, which also supports deposits and withdrawals across multiple chains, eliminating the need for third-party bridges. Retail users can access EURC on Coinbase for on and off-ramping. EURC currently has a market cap of $38 million, compared to USDC's $33 billion. An initial liquidity pool for EURC/USDC is now available on Aerodrome, the largest decentralized exchange on Base.

Ethereum core developers are preparing to deploy the third devnet for Pectra. Client teams are currently addressing bugs in devnet 2, which includes a specification for EIP-7702. Core developers are still evaluating whether to include RIP-7212, a standard for secure and cost-effective signature verifications using the secp256r1 elliptic curve. The standard reduces the costs associated with smart wallets. Tim Beiko, coordinator of the ACD calls, emphasized that Pectra is already a packed upgrade. The decision to include RIP-7212 will be made once there is a clearer understanding of the readiness of the other EIPs. The Pectra upgrade currently includes 19 EIPs and is anticipated to launch in the first quarter of 2025.

Coinbase published its Q2 2024 earnings report, showing $1.4 billion in revenue for the quarter. Over 40% of the revenue originated from subscriptions and services. Coinbase attributed the increase to higher USDC balances on the exchange and a growing USDC market cap. The exchange reported $36 million in net income. The report also underscored Coinbase's role as the custodian for 8 out of the 9 Spot Ethereum ETFs, the public launch of the Coinbase Smart Wallet, leading L2 transaction activity, and the reduction of transaction fees on Base.

Morpho, a base infrastructure layer for building lending applications, raised a $50 million funding round led by Ribbit Capital. Morpho Blue, the protocol’s native lending platform, supports isolates lending markets, allowing for higher collateralization factors and improved interest rates. Morpho Blue is currently live on Ethereum and Base with over $1 billion in deposits. Morpho plans to use the fresh capital to enhance the network’s decentralization, further develop Morpho Blue and Morpho Vaults, and support its ecosystem builders with grants.

• Convergence suffers an exploit

• Base introduces Base.eth subnames

• Base Buildathon finalists

• Besu 24.7.1 release

• Hyperledger on Parallel Transactions

• EIP-7748 moves to a draft phase.

• Universal Protocol goes live on Base.

• Syndicate introduces Metabased rollups.

• Ethereum Film opens pre-sale tickets.

EIP-7748 is now in a draft phase. The proposal aims to convert account states from the current Merkle Patricia Tree (MPT) data structure to the Verkle Tree (VKT) format. The solution would convert a fixed number of key values on a per-block basis to ensure a gradual transition, minimizing the impact on network performance and ensuring the process is manageable for clients. Verkle Trees are a more efficient and scalable data structure that offers smaller proof sizes and enhances the feasibility of stateless clients on Ethereum. They are a key component of The Verge upgrade in Ethereum's roadmap to simplify block verification. The transition to Verkle Trees is anticipated to be part of the Osaka upgrade.

Universal, a wrapped asset protocol, is now live on mainnet with initial support for Base. The protocol enables the trading of wrapped versions of non-EVM assets such as SOL, DOGE, and BTC on various blockchains. By using a mint-and-burn mechanism, Universal addresses the issue of liquidity fragmentation 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 mainnet launch is currently in a beta phase, accessible by invitation only. Users can join a waitlist to participate in the beta release.

Syndicate, a provider of Web3 infrastructure, introduced metabased rollups, a new blockchain scaling design aimed at boosting decentralization and economic value for community-led Layer 3 networks. The rollups execute transactions outside of Layer 1 and post the transaction data back on the base layer. The sequencing in metabased rollups is managed by a smart contract on a layer beyond the L1. Similar to based rollups, metabased rollup sequencing occurs on and relies on the liveness of the chain’s parent layer, such as the L2. The design supports flexible sequencer configurations that offer scalability, cost-effective transactions, and economic alignment with the chain’s community.

Pre-sale tickets are now available for "Vitalik: An Ethereum Story," a community-funded feature documentary that explores the creation of Ethereum, Vitalik Buterin's journey, and the global community of builders. The documentary will be available for pre-release digital screening on September 20th and will be accessible until October 20th. Its mainstream release for all viewers is planned for early 2025.

• Layer N launches N-siders program

• Ethernity L2 launches on testnet

• Aave governance process

• Announcing Gitcoin Grants 21

• ZKX shuts-down

• EigenLayer AVS categories

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