WalletConnect Introduces WCT Token
WalletConnect allocated 18.5% of its WTC token supply to an initial airdrop for wallets, nodes, developers, and users of the WalletConnect Network.
WalletConnect introduces WCT token.
EigenLayer to release programmatic incentives.
Pectra Devnet 3 goes live.
Congressmen seek SEC clarity on airdrops.
WalletConnect, a protocol that connects wallets to applications, introduced its native WCT token on OP Mainnet. WTC has a total supply of 1 billion and will serve as a fee, staking, and governance token. WalletConnect also rebranded as Reown, aiming to enhance web3 accessibility through its AppKit and WalletKit toolkits. About 185 million tokens are allocated to airdrops for wallets, apps, nodes, developers, and communities who have engaged with the WalletConnect Network. The first WCT airdrop will open on September 24, with distributions starting in October, although the token will initially be non-transferable. Launched in 2018, WalletConnect has facilitated 150 million wallet connections across 40,000 applications and 600 wallets.
EigenLayer announced plans to release Programmatic Incentives on mainnet on October 8, 2024, allowing restakers and operators to earn rewards for securing Actively Validated Services (AVSs). 4% of the total EIGEN supply is allocated to programmatic incentives with initial weekly emissions of 1.3 million EIGEN tokens. Restakers and operators will receive retroactive incentives proportional to their stake starting from August 15, 2024. To be eligible, restakers must have delegated their stake to a registered AVS operator. Actively Validated Services (AVSs) leverage the economic security of Ethereum restakers to secure consensus for their own networks.
The third Pectra devnet is now live, allowing developers to experiment with eight supported EIPs, including EIP-2537, EIP-2935, EIP-6110, EIP-7002, EIP-7251, EIP-7549, EIP-7685, and EIP-7702. A devnet is a testnet environment that allows developers to test EIPs. Developers can start using the available Pectra Devnet 3 RPC, faucet, and block explorer. A key feature of Devnet 3 is EIP-7702, an account abstraction standard initially proposed by Vitalik Buterin, which enables EOAs to temporarily function as smart wallets during a transaction. This week, core developers will decide whether to split Pectra EIPs and ship Devnet 3 as a standalone fork, with the remaining EIPs following in a subsequent fork.
Congressmen Tom Emmer and Patrick McHenry sent a letter to SEC Chair Gary Gensler seeking clarity on the agency’s stance regarding airdrops. The lawmakers argue that the SEC is overstepping its authority by classifying certain airdrops as unregistered securities. The congressmen compared airdrops to loyalty rewards, asking how the SEC differentiates between the two. The letter asks for Gensler to provide answers to their questions by September 30th.
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EIGEN Stakedrop 2 Claims Go Live
Eligible users can now claim their share of 86 million EIGEN tokens. While currently non-transferable, users can restake and delegate their EIGEN tokens.
Claims go live for EIGEN Stakedrop 2.
Optimism announces Retro Funding Round 6.
RISC Zero introduces Boundless.
DeltaPrime suffers a $6m exploit.
Claims for the EIGEN Season 2 Stakedrop are now open. Stakers, operators, ecosystem partners, and community members can claim their share of 86 million EIGEN tokens. The claim window is open for six months, closing on March 16th, 2025. Although EIGEN is non-transferable, users can still restake and delegate their tokens. EIGEN, a Universal Intersubjective Work Token, provides social consensus as a service and will serve a role in future protocol governance. The token is expected to become transferable in the coming month and is currently trading at about $2.90 in Aevo’s pre-market. The Eigen Foundation also pledged an allocation to Protocol Guild.
Optimism announced the details for its sixth round of retroactive funding, which will allocate up to 3.5 million OP tokens to projects that have contributed to Superchain Governance. Eligible contributions include governance infrastructure and tooling, governance analytics and performance reports, as well as leadership roles within councils, commissions, and boards. Applications open on September 26th, with contributions needing to demonstrate impact between October 2023 and September 2024. Projects unrelated to Optimism governance and individual delegate participation are not eligible for this round. Badgeholders will vote in October, with grants set to be distributed in November.
RISC Zero, a blockchain infrastructure provider, introduced Boundless, a new scalability design leveraging zero-knowledge proofs (ZKPs) to enable verifiable computing. With Boundless, computations performed by a single node can be verified by all nodes efficiently, without the need for re-execution. Boundless simplifies ZK integration for developers by offering familiar programming languages and streamlined proof aggregation. Boundless also supports cross-chain interactions, elastic scalability, and inherits security from the underlying target chains. The solution is currently in an early testing phase.
DeltaPrime Blue, a lending protocol on Arbitrum One, suffered a private key compromise, leading to the loss of approximately $6 million in user funds. An attacker was able to artificially inflate their deposit balances to withdraw funds from multiple pools, including USDC, BTCb, and ARB. DeltaPrime has since contained the risk and is now working on asset recovery.
Danny Ryan Steps Away From L1 R&D
Over the past seven years, he has played a critical role in Ethereum’s development, notably the network's transition to proof-of-stake.
Danny Ryan steps away from his role at the EF.
ZKsync onchain governance goes live.
EF announces 4844 Data Challenge winners.
Long-time Ethereum researcher Danny Ryan announced that he is stepping down from his role at the Ethereum Foundation related to Ethereum L1 research and development. Ryan emphasized that his departure was personal as he plans to take a break to focus on his family and personal projects throughout the end of the year. Ryan urged the Ethereum community to build lasting, long-term value rather than chasing short-term gains. Over the past seven years, he has played a pivotal role in Ethereum’s development, notably leading its transition to proof-of-stake and most recently the introduction of PeerDAS. Ryan says he remains open to exploring part-time engagements next year.
Onchain governance for ZKsync is now live on Tally, enabling delegates to initiate proposals and execute upgrades. The governance system is categorized into three proposal types, including ZKsync Improvement Proposals (ZIPs), Token Program Proposals (TPPs), and Governance Advisory Proposals (GAPs). The minimum proposal threshold needed is 21 million ZK tokens. ZKsync governance consists of three key parts, including ZK token holders coined as the Token Assembly, a twelve-member ZKsync Security Council responsible for reviewing protocol upgrades, and the ZKsync Guardians, a group of five appointed individuals who can veto, initiate, and approve emergency measures.
The Ethereum Foundation revealed the winners of its 4844 Data Challenge, a competition where data experts evaluated the impact of EIP-4844 on Ethereum. Ten finalists were selected to receive a portion of the $30,000 prize pool for their submissions. The top prize was awarded to Seongwan Park for his empirical analysis, which highlighted both the improvements and challenges brought by the upgrade.