• Impact of EIP-7762 on blob fee market.

• Commit-Boost nears production readiness.

• Celo sees a surge in stablecoin adoption.

• Base gas target increases to 11 Mgas/s.

Flashbots researcher Datalaways published an analysis on the impact of EIP-7762, a proposal to increase the minimum base fee in blobspace from 1 wei to approximately 33.55 MWei. The research debunks the misconception that blobs don’t contribute fees to the network, revealing that submitters already pay between $0.10 and $3.00 per blob in mainnet execution fees. The analysis also highlights that the proposed fee increase would reduce the frequency and severity of Priority Gas Auctions (PGAs), leading to more predictable blob pricing. EIP-7762 also addresses the "cold-start problem," where the blobspace fee market is slow to react to rising demand. Datalaways concludes that the impact on market fees will be minimal, with the lowest-cost blobs experiencing a slight increase. Base developers have also expressed their support for EIP-7762.

Commit-Boost, a software tool designed to restore block-building autonomy for Ethereum validators, is approaching production readiness. The tool enables validators to impose conditions and constraints on block construction, providing greater control when outsourcing the task to external builders via MEV Boost. Commit-Boost standardizes how validators approve specific block construction protocols, known as "shapes," helping to avoid fragmentation within the Ethereum ecosystem while reducing associated risks. As an open-source public good, Commit-Boost invites Ethereum stakeholders to participate in testing ahead of a production-ready release later this year.

Celo, an EVM-compatible L1 that is transitioning into an OP Stack L2, is seeing increasing adoption for stablecoin usage on its network. Data from Artemis shows that Celo has now surpassed Tron in daily active addresses for stablecoin transactions. Artemis also highlighted that the growth in transfer sizes across various categories suggests the increase is not driven by spam transactions. The surge in activity is partly due to the rise in mobile payment applications in Africa, such as MiniPay, which enables users to send and receive stablecoins on Celo via their phone numbers. Vitalik Buterin commented on Celo’s progress, emphasizing that global access to basic payments has always been a crucial use case for Ethereum. Celo currently has a TVL of $120 million.

• Base gas target is now 11 Mgas/s

• Assetera uses Polygon PoS

• Danny Ryan POAP

• Ethereum Obituaries

• State of Web3 grants

• Delay stateRoot by a block

• Ethereum Follow Protocol goes live.

• TrueCoin settles charges with the SEC.

• WalletConnect opens airdrop registrations.

• Phaver launches its SOCIAL platform token.

The Ethereum Follow Protocol, an onchain social graph for Ethereum, is now live on mainnet and open to all users. The launch allows users to sign in with their Ethereum wallet to follow others, block wallets, and view their leaderboard rank. EFP enables users to create and manage follow lists through EFP List NFTs on Base. The protocol integrates data from ENS records, such as a profile picture, bio, and social links. The release includes a wallet activity feed powered by Interface. Developers can leverage EFP to incorporate rich account data, such as follow lists, into their applications.

TrueCoin LLC and TrustToken Inc., the issuers of the TrueUSD stablecoin on Ethereum, settled with the SEC over charges of defrauding investors by diverting a substantial portion of TUSD reserves into a speculative offshore fund. The companies agreed to settle the charges with the SEC by paying $700,000 in penalties. Despite knowing about redemption issues and having most reserves tied to its offshore fund, the SEC says TrueCoin falsely assured users that the stablecoin was fully backed by U.S. dollars. The penalty for TrueCoin and TrustToken appeared minimal when compared to Binance's $4 billion fine for failing to comply with KYC regulations.

WalletConnect is now accepting user and contributor registrations for its upcoming WCT token airdrop. In the first airdrop season, 50 million WCT tokens will be distributed out of a total 18.5% of the total token supply, allocated for airdrops. Eligibility for the first airdrop is determined by past activity on the WalletConnect Network. For users, eligibility is based on WalletConnect connections and signatures, while for developers, it includes contributions to CAIPs, EIPs, SDKs, and other open-source projects. To participate, users must create a profile, connect their Ethereum wallets via WalletConnect, and optionally link their GitHub accounts. The results for the initial airdrop will be revealed in November. The airdrop is part of WalletConnect's journey towards becoming a fully decentralized network by 2025, with WCT serving as the protocol’s staking and governance token.

Phaver, a Web3 social aggregator designed for Lens Protocol and Farcaster, launched its SOCIAL platform token. Eligible users can now claim their Phaverdrop Season 1 allocation on Base over the next 30 days. The launch unlocks roughly 10% of the token’s 10 billion total supply. SOCIAL tokens can be used to boost Cred Level and Points on the Phaver platform, offering preferential feed visibility. 

• Daylight raises $6m

• Farcaster introduces Mini Apps

• EtherFi suffers a DNS hijack 

• Base begins weekly gas target increase

• ZKsync releases prover API

• Stateless Call #25 recap

• Daimo introduces USD->USDC ramp

• EigenLayer Operator wallet submission

• OnchainKit updates swap component

• EF seeks proposals for a Pectra audit.

• Base introduces a global buildathon.

• ZKsync goes live on the Aave front end.

• Optimism approves a 3m OP grant for Base.

The Ethereum Foundation is seeking proposals for an audit of the bytecode for smart contracts associated with the upcoming Pectra hard fork. The contracts correspond to EIPs 2935, 7002, and 7251. The audit will focus specifically on the bytecode, aiming to ensure that the EIPs correctly implement the intended functionality. EIP-2935 manages a ring buffer of historical block hashes, EIP-7002 handles staking withdrawal requests, and EIP-7251 oversees validator consolidation requests. Auditors are encouraged to identify any potential security vulnerabilities and suggest improvements. Proposals should be submitted by October 11, 2024.

ZKsync Era on Aave V3 is finally live on the Aave front end, offering users access to liquidity and lending services for USDC, USDT, WETH, wstETH, and ZK on ZKsync Era. The launch follows the initial deployment of contracts in August, which were temporarily halted due to a discovered security bug. Currently, the ZKsync market on Aave V3 has over $1.7 million in total value locked (TVL). The ZK token is in an isolated market structure, which mitigates cross-collateral risks by limiting borrowing power and using single-asset collateral. The Aave DAO intends to redistribute airdrops received from the ZKsync ecosystem to Aave users through liquidity mining incentives.

Base launched "Base Around the World," a global buildathon featuring regional events and meetups across Africa, India, Southeast Asia, and Latin America. Running from September 27th to October 13th, the buildathons will offer a total of 100 ETH in prizes to onchain builders. In addition to prizes, Base will provide marketing support and networking opportunities for builders developing onchain applications that tackle local challenges. Co-presented with local partners and managed by Devfolio, the initiative will conclude with a visit from the Base team in Nairobi, Bangalore, Bangkok, Singapore, and Manila.

Optimism Governance approved a 3 million OP token grant for the Base ecosystem to support DeFi builders in boosting ETH and BTC Total Value Locked (TVL) on Base. Each quarter, Base will distribute 750,000 OP tokens, divided between new and existing protocols. These grants will be awarded retroactively, rewarding the top 5 new protocols and top 10 existing protocols each quarter based on TVL growth. The initiative is part of Optimism’s Intent 3A Superchain Grants mission request. Grants were also awarded to the Cyber, Redstone, Mode, and Lisk ecosystems.

• Celestia raises $100m

• EIGEN transfer expected Sep. 30th

• Treasure Chain votes to deploy on ZK Stack

• Gnosis Pay hits $500k weekly spend