• SEC ends its ETH 2.0 investigation.

• OP Stack supports Alt-DA Mode.

• Instadapp introduces Fluid DEX.

• Kraken infinite money glitch.

• EigenLayer opens phase 2 claims.

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Consensys announced that the SEC is closing its investigation into Ethereum 2.0, which is the network's shift to proof-of-stake consensus. Last year, the SEC opened an investigation probing Ethereum's classification as a security, issuing multiple subpoenas to Consensys for detailed information about Ethereum transactions and its involvement in EIPs related to the Merge. The decision to end the investigation comes after Consensys filed a lawsuit against the SEC for overstepping its regulatory purview. Additionally, the SEC is facing increasing political pressure amid the forthcoming election. Consensys says the victory marks a new direction for cryptocurrency regulation in the U.S.

Optimism introduced support for Alt-DA Mode on the OP Stack, enabling the use of alternative data availability layers instead of Ethereum L1. In Alt-DA Mode, transaction batches are posted to alternative DA layers such as Celestia, EigenDA, and Avail. While a data commitment hash is still posted to Ethereum L1, the input state is maintained in an alternate DA chain. Alt-DA Mode allows DA Layer teams to manage a DA Server, which facilitates all interactions with the OP Stack and handles custom logic and key management. Alt-DA Mode is designed to reduce transaction costs by using a data market that is independently priced from Ethereum blobspace. Alt-DA Mode in an early-stage release.

Instadapp introduced Fluid DEX, a capital-efficient DEX built atop the Fluid Liquidity Layer. The new DEX introduces the ability to leverage both debt and collateral through two innovative features: Smart Debt and Smart Collateral. Smart Debt deploys borrowed funds into trading liquidity, enabling users to generate trading fees that can potentially offset or exceed the costs of borrowing. Smart Collateral, on the other hand, allows users to deploy their collateral to provide AMM liquidity, earning both trading and lending fees. Fluid DEX also integrates a single auto-rebalancing range order system that allows for diverse liquidity ratios and fees, supporting unique trading vault strategies. Governed by $INST holders, Fluid DEX is set to launch by the end of July.

Kraken disclosed a critical bug on its exchange, which was initially identified by an external party. Dubbed the "infinite money glitch," the bug allowed users to immediately credit their accounts with unverified deposits, effectively enabling them to inflate their balances artificially. While the bug has been addressed and fixed, Kraken says it was exploited by a security research firm to withdraw $3 million. The Chief Security Officer of Kraken reported that the firm involved has yet to return the funds and demanded negotiations about potential payout amounts. CertiK, a security audit firm, later admitted to being the entity that withdrew the funds. Criticism followed as CertiK conducted 30-40 transactions under the guise of "testing" the vulnerability, far exceeding what would have been necessary to demonstrate the flaw. Kraken is now handling the incident as a criminal matter.

The EigenLayer Foundation opened claims for the second phase of its initial stakedrop, enabling users of complex LRT integrations such as Kelp, Pendle, and Equilibrium, to claim their EIGEN tokens. The stakedrop is based on a snapshot taken on March 15th. While EIGEN tokens are initially non-transferable, users can stake and delegate their tokens. Users have until September 7th, 2024, to claim their tokens. The foundation plans to release details about a second season in the coming weeks.

• Flashbots MEV Boost Bids Archive

• LayerZero airdrop checker

• Aave to launch on zkSync

• Martin Shkreli DJT scheme

• Introducing MAV V2

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• Synthetix V3 goes live on Arbitrum.

• A vote to deploy GHO cross-chain goes live.

• Ronin introduces its zkEVM on Polygon CDK.

• Devcon opens its raffle ticket auction.

Harpie is an onchain security solution that protects your wallet from theft in realtime. Harpie helps you detect and block suspicious transactions before they execute, safeguarding your assets from malicious attacks and scams. Try Harpie for free at harpie.io/ethdaily.

Synthetix V3, the latest version of the derivatives trading protocol, is now live on Arbitrum One with initial support for ETH, ARB, and USDC deposits. Synthetix is distributing ARB LTIP rewards to early liquidity providers. Synthetix V3 introduces multiple collateral types, cross-margin trading, enhanced account-based access controls, and revamped liquidation mechanisms. The launch also includes USDx, a stablecoin native to Arbitrum. Over the upcoming weeks, Synthetix plans to extend its collateral options to include sUSDe, USDe, stETH, and weETH. Synthetix Perps V3 will go live once the protocol achieves sufficient liquidity on Arbitrum. The deployment marks the fourth chain on Synthetix V3, following Ethereum, OP Mainnet, and Base.

A proposal to deploy Aave's GHO stablecoin natively on other blockchains, starting with Arbitrum, is now live for a governance vote. The initiative aims to improve the liquidity, accessibility, and cross-chain interoperability of the GHO stablecoin. The deployment will leverage the Chainlink Cross-Chain Interoperability Protocol (CCIP), which uses a lock/burn and release/mint mechanism for bridging. Ownership of the bridge contract will be transferred to the Aave DAO, allowing it to manage liquidity flow limits, interest rates, and risk parameters. GHO can be borrowed against any collateral on Aave V3. To date, users have minted over 85 million GHO. stAAVE holders also benefit from a 30% discount on the GHO borrow rate. The voting period will conclude on June 21st.

The Ronin Network, a L1 blockchain designed for gaming, introduced Ronin zkEVM, a new Layer 2 network built using Polygon's CDK. Ronin zkEVM aims to offer low network fees and fast processing times to support the high transaction throughput demands of gaming applications. It uses ZKPs for transaction validation. Transactions will be settled on Ronin mainnet, ensuring secure data availability for its Layer 2 chain. The Ronin zkEVM will support the use of any ERC-20 token available on the Ronin network for gas fees. It can also tap into Polygon’s AggLayer to access unified liquidity. The first zkEVM chain is anticipated to launch in Q1 2025.

The raffle auction for Devcon VII tickets is now live, offering attendees the opportunity to bid on 184 discounted tickets priced at 0.08 ETH each. Participants need to verify their Gitcoin passport with a score over 20 to ensure Sybil-resistance. The auction is hosted on Arbitrum and will conclude on July 9th. Devcon VII is set to take place in Bangkok, Thailand, from November 12-15.

• LayerZero airdrop checker

• ConsenSys updates privacy policy

• Base increases gas target

• Amended ETH ETF S-1

• $750m in upcoming unlocks

• Introducing Time Fun

• Morpho goes live on Base

• Camp L2 joins the Superchain

• Velodrome to launch on FRAXTAL

• Silo goes live on OP Mainnet

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• RISC Zero launches its zkVM 1.0.

• ZKsync ZK token claim goes live.

• Paradigm releases Alloy v0.1.

• Ternoa launches ZKEVM+ on testnet.

Harpie is an onchain security solution that protects your wallet from theft in realtime. Harpie helps you detect and block suspicious transactions before they execute, safeguarding your assets from malicious attacks and scams. Try Harpie for free at harpie.io/ethdaily.

RISC Zero launched zkVM 1.0, the production-ready iteration of its general-purpose zkVM. The system can generate proofs for any program written in Rust and is compatible with multiple chains, enabling proof verification on any chain. According to RISC Zero, zkVM 1.0 is more cost-efficient than competing proof systems like Plonky3, The launch of zkVM 1.0 features proof composition, onchain verification, and continuations. Leading up to the zkVM release, RISC Zero conducted a Trusted Setup Ceremony, underwent security audits, and published its verifier on several platforms including Ethereum, Base, OP, Arbitrum, World Chain, and Starknet. Developers can now use zkVM to create a ZK-powered dapp on any chain.

ZKSync's ZK token is now live, releasing 17.5% of its total 21 billion supply into circulation. At the time of recording, ZK is trading at approximately 22 cents, giving it a fully diluted valuation (FDV) of just under $5 billion. ZK currently ranks in the top 100 tokens by market cap, but its rank is lower than Starknet, Optimism, and Arbitrum. The token launch marks the start of ZKsync governance, enabling ZK token holders—referred to as the Token Assembly—to delegate, propose, and vote on protocol upgrades. Over 74% of the airdropped ZK token supply was claimed in the first 24 hours. ZKsync Era is an EVM-compatible ZK Rollup.

Paradigm released Alloy v0.1, a suite of developer libraries for interacting with Ethereum. The release includes the Alloy JSON-RPC, Alloy Core, foundational type, and ABI coders. Alloy introduces a new Network trait that defines operations for multiple chains. Alloy also splits RPC behavior modification middleware into three abstractions. Alongside the software, Paradigm released resources, including the Alloy Book, AlloyDocs with detailed Rust documentation for each function in the repository, and practical code examples. With the introduction of Alloy, Paradigm is phasing out support for ethers-rs and is urging developers to migrate to the new framework. Paradigm will release APIs in the forthcoming V1 release.

Ternoa launched ZK-EVM+ on testnet, a ZK-powered L2 solution built on Polygon CDK, incorporating Avail for data availability. The new chain is designed to enhance security and privacy while maintaining full EVM compatibility. zkEVM+ also incorporates a hybrid coprocessor architecture that uses both ZK and TEE proofs. ZK-EVM+ was deployed using Zeeve, a RaaS provider.

• RocketPool completes Houston upgrade

• EtherFi integrates Symbiotic

• Doodles migrates its studio to Base

• Arbitrum launches the Stylus Blitz hackathon

• NodeKit introduces Javelin

• Cyber Dual Staking Pool

• Layer3 leading L2 mints

• Kroma L2 on OP Stack

• Delivery at Dawn wrap-up

• Preconfirmations: On splitting the block

• Devcon VII raffle-auction

• Rep. Michael Collins buys VELO