ZKsync Introduces ZK Token
695,232 addresses are eligible for a share of 3.67 billion ZK tokens, representing 17.5% of the 21 billion total ZK token supply.
zkSync introduces the ZK Token airdrop.
Polygon launches a 1 billion POL grants program.
Symbiotic unveils its restaking protocol.
Devcon VII program tracks announced.
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zkSync, an EVM-compatible ZK Rollup, introduced its native ZK governance token, which will also serve as the network's gas token. A total of 695,232 addresses will receive a share of 3.67 billion ZK tokens, representing 17.5% of the token’s 21 billion total supply. The distribution aligns with zkSync's commitment to allocate two-thirds of its total token supply to the community. The remaining third is allocated to investors and team members. Token claims will go live on June 17th with a gas-free claiming process. The airdrop is based on a snapshot from March 24th, commemorating the one-year anniversary of ZKsync Era mainnet. Eligibility criteria for the airdrop included interacting with smart contracts, using paymasters, providing liquidity, and using zkSync Lite. Users from external communities like BONSAI and DEGEN airdrop 1 recipients, as well as holders of Milady and Pudgy Penguin NFTs, were included in the airdrop.
Polygon launched a Community Grants Program, allocating 1 billion POL tokens to support builders on Polygon. The program aims to distribute 100 million POL per year for the next decade. A Community Treasury Board will oversee the distribution of funds, with grants awarded at the start of each month. Applications are now open for the first grants season, which includes a 35 million MATIC funding pool. Grants ranging from 5,000 to over 50,000 MATIC are available for developers who are currently building on Polygon or intend to migrate their projects. The season features a General Grant Track and a Consumer Crypto Track. The application window for season one closes on August 31.
Symbiotic unveiled its shared security protocol featuring a flexible modular framework. Symbiotic enables networks to configure security parameters, including supported collateral assets, asset ratios, caps, node operator selection, rewards, and slashing mechanisms. Users can restake their assets on Symbiotic to earn rewards. The core contracts of Symbiotic are non-upgradeable and have been deployed on Ethereum mainnet. Symbiotic is offering protocol points to restakers who contribute to bootstrapping liquidity. In conjunction with its launch, Symbiotic also announced a $5.8 million seed funding round, co-led by Paradigm and CyberFund.
The Ethereum Foundation announced the programming tracks for Devcon SEA, which will include Core Protocol, Layer 2, Developer Experience, Coordination, Cypherpunk & Privacy, Applied Cryptography, Security, Real World Ethereum, Usability, and Cryptoeconomics. Applications for speakers open on July 9th and the first raffle-auction ticket wave starts next week, running from June 18 to July 9. Devcon VII will be hosted in Bangkok, Thailand from November 12-15.
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Aave ZK allocation discussions
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S-1 for ProShares Spot ETH ETF
MEV-Tax Solidity library
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OP Stack Reaches Stage 1 Decentralization
A milestone activated by the launch of Fault Proofs on OP Mainnet
The OP Stack reaches Stage 1 decentralization.
ZKsync unveils a governance framework.
Blobstream goes live on Ethereum mainnet.
UwU suffers a $20 million exploit.
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The OP Stack has reached Stage 1 decentralization, a milestone facilitated by the launch of Fault Proofs on OP Mainnet, which enables permissionless validation. The activation permits ETH and ERC-20 token withdrawals without the need for third parties. Any user can challenge invalid withdrawals through a dispute game mechanism. In Stage 1, rollups are equipped with functional proof schemes and a multi-sig override mechanism, such as the Security Council. The next milestone, Stage 2, will introduce a multi-proof system. As outlined by Vitalik, Stage 2 is the final step in rollup decentralization, where the Security Council cannot change the chain's state root. OP Stack chains on the Superchain, including Base, Mode, and Zora, are next to activate fault proofs.
ZKsync revealed plans for a native token to govern the ZKsync protocol. Token governance will be part of a three-component governance framework. The Token Assembly will enable ZKsync token holders to delegate, propose, and vote on protocol upgrades. The second component is a twelve-member Security Council. The ZKsync Security Council will review protocol upgrades and can pause the protocol during emergencies. The third component is the ZKsync Guardians, a group of five appointed individuals who can veto, initiate, and approve emergency measures concerning the network's operation. Since launching its mainnet in March 2023, ZKsync Era has facilitated over 350 million transactions across 6 million wallet addresses. The protocol's initial version, zkSync Lite, launched on mainnet in June 2020. ZKsync plans to release further details about its token allocation and delegation processes this week.
Blobstream, a data availability streaming solution by Celestia, is now live on Ethereum mainnet. Blobstream allows developers to deploy L2 rollups that leverage Celestia for data availability. A smart contract on Ethereum functions as an onchain light client responsible for verifying the validity of data sent by Celestia's light clients. Rollups using Blobstream as their data availability layer benefit from an independent gas market for blobspace. Blobstream is still in an experimental release phase.
Uniswap Labs acquired Crypto The Game, an onchain survival game that launched earlier this year. The game operates as a "winner takes all" competition, consisting of daily challenges spanning a 10-day period. Users enter the game by placing a wager in ETH, which is added to the overall prize pool. Players can play in the game or trade their game assets on secondary markets. In its second season, the game amassed a prize pool of 72 ETH, which the winner donated to support the Tornado Cash defense case. The CTG team is joining Uniswap Labs to continue developing the game with the upcoming launch of Season 3. Uniswap aims to enhance the onchain experience for its users by integrating new elements with its existing product suite.
UwU Lend, a DeFi lending protocol on Ethereum mainnet, suffered an exploit that led to nearly $20 million worth of assets being drained. According to Peckshield, a price oracle was exploited, allowing the attacker to manipulate prices in USDe paired pools. The attacker siphoned off ETH, WBTC, and several stablecoins and later swapped the stolen assets into ETH. Following the incident, UwU Lend paused its protocol to investigate the situation.
Ethresear.ch: Inactivity Leak unveiled
Chintai RWA on Base
Superseed testnet launched
Kurtosis is now open-source
Arbitrum Approves 225m ARB Proposal
The Gaming Catalyst Program allocates about $225 million to fund gaming development on Arbitrum.
Arbitrum approves 225m ARB proposal.
The EF opens Devcon Scholar applications.
Over $300m in crypto liquidations.
zkSync completes its v24 upgrade.
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Arbitrum governance approved an onchain vote to allocate 225 million ARB, currently valued at approximately $225 million, to fund gaming development on Arbitrum. The initiative aims to establish Arbitrum as the leading blockchain for gaming. A future vote will be held to elect a council to oversee the program. The proposal, known as the Gaming Catalyst Program (GCP), passed with 76% approval from over 15,000 participating addresses. It allocated 160 million ARB for attracting game developers and 40 million ARB for infrastructure. The remaining 25 million ARB will be used for marketing, legal compliance, and operational costs. The funds will be distributed across a three-year period.
The Ethereum Foundation is now accepting applications for the Devcon Scholars Program, designed to support individuals from underrepresented communities looking to attend Devcon VII. The program offers financial aid and requires participants to commit to three months of engagement starting in August. Participants must also submit a Learning Artifact by the end of Devcon VII. Ethereum community organizers, law students, legal professionals, builders, artists, and sci-fi writers are encouraged to apply. A total of 100 participants will be selected. Devcon VII is scheduled for November 12-15, 2024, in Bangkok, Thailand, with Devcon week spanning November 9-17. Devcon is the largest annual gathering of Ethereum developers.
According to data from Coinglass, more than $300 million in cryptocurrency was liquidated over the past 24 hours, following a sudden sell-off earlier today. Approximately $280 million of these liquidations were long positions. Ethereum's price has decreased by 3% in the last 24 hours, with ETH currently trading at $3,689. The total cryptocurrency market cap has dropped to $2.68 trillion.