Obol Launches 1forDS Fund
A new funding model designed to support projects focused on decentralizing the Ethereum consensus layer.
This story was featured in Episode 469.
Obol Network launched the 1% for Decentralization (1forDS) retroactive fund, a new funding model designed to support projects focused on decentralizing the Ethereum consensus layer. The model directs 1% of staking rewards from Obol’s distributed validator clusters into a retroactive funding pool. As the network expands, it will generate increased funding for projects. Lido Finance is the first contributor to join the initiative via its SimpleDVT module. EtherFi has also committed to participate through its validators. Obol distributed validators enhance Ethereum’s fault tolerance by distributing a validator's key across multiple nodes, ensuring continuous validation even if one node fails.
Uniswap Responds To SEC Wells Notice
The letter calls for the SEC to consider Uniswap's arguments and not pursue actions that could hinder innovation.
Uniswap responds to the SEC’s Wells notice.
Farcaster raises a $150 million Series A.
Obol launches the 1% for decentralization fund.
Smoldapp introduces Smol Swap.
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.
Uniswap Labs wrote a 43-page response to the SEC over a Wells notice it received last month. The SEC signaled its intention to charge Uniswap for allegedly operating as an unregistered securities exchange and broker-dealer, and alleging the UNI token is a security. In its response, Uniswap argued that its platform does not primarily facilitate securities trading. Instead, its protocol serves as a general-purpose technology, similar to the Internet Protocol. Uniswap compared tokens to file formats, such as PDFs. and pointed to the FIT 21 bill, which is expected to pass in the House tomorrow, designating the CFTC as the main regulatory authority for most digital assets. Uniswap's letter calls for the SEC to consider its arguments and not pursue actions that could hinder innovation.
Farcaster, a web3 social platform operating on the OP Mainnet, raised a $150 million Series A funding round led by Paradigm, with contributions from a16z crypto, Haun, USV, Variant, and Standard Crypto, among others. Farcaster plans to use the new capital to expand its engineering team. Founder Dan Romero says the funding ensures Farcaster's operations for the foreseeable future. This year, Farcaster is focused on increasing its daily active users and rolling out new primitive features. Since migrating to the OP mainnet and becoming available to all users last year, the platform has attracted over 350,000 users. Farcaster also rolled out support for Arbitrum transactions. Arbitrum is offering $500,000 in retroactive rewards for developers who build Frames with Arbitrum.
Obol Network launched the 1% for Decentralization (1forDS) retroactive fund, a new funding model designed to support projects focused on decentralizing the Ethereum consensus layer. The model directs 1% of staking rewards from Obol’s distributed validator clusters into a retroactive funding pool. As the network expands, it will generate increased funding for projects. Lido Finance is the first contributor to join the initiative via its SimpleDVT module. EtherFi has also committed to participate through its validators. Obol distributed validators enhance Ethereum’s fault tolerance by distributing a validator's key across multiple nodes, ensuring continuous validation even if one node fails.
Smoldapp, a directory of niche dapps, launched Smol Swap, a new feature for swapping tokens. Smol Swap integrates with the app's built-in address book and allows users to trade tokens across 10 different EVM-compatible chains. Smoldapp offers interfaces that facilitate the management of token distribution, disposal, and migration in a single transaction.
Spot ETH ETF Likely To Be Approved
ETH surges by 18% to a monthly high of $3,650 amid increased approval odds for a Spot ETH ETF.
Spot ETH ETF odds increase to 75%.
Across releases an ERC-7683.org.
Justin Drake advises the Eigen Foundation.
DeBridge now supports Gnosis Chain.
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.
Bloomberg analysts Eric Balchunas and James Seyffart raised their odds of the SEC approving a spot Ether ETF to 75%, up from an earlier estimate of 25%. Following their increased approval ratings, the price of ether surged by 18%, reaching a monthly peak of approximately $3,650. Balchunas noted a complete shift in the SEC's approach, potentially due to heightened political pressure. Balchunas capped his rating at 75% until there are further signs, such as updates on filings. The SEC has a decision deadline this Thursday, May 23rd to either approve or deny VanEck's Ethereum ETF application. According to CoinDesk, the SEC also asked exchanges to update 19b-4 filings for the potential trading of a Spot ETH ETF.
Across Protocol released erc7683.org, an informational hub for its ERC-7683 cross-chain intents standard. The standard, built in collaboration with Uniswap, will allow order fillers from any system to participate and fulfill intents, as long as they follow the same order structure. It aims to provide faster and lower-cost execution for users. Uniswap plans to integrate the ERC into its UniswapX intent-based trading protocol. Intents are signed constraints that allow users to outsource their orders to a network of independent fillers. The fillers not only compete to fulfill orders but also manage order routing and handle the native gas fees with different destination chains.
Ethereum Foundation researcher Justin Drake publicly disclosed his advisory role with the EigenLayer Foundation, which includes considerable EIGEN token compensation projected to be worth millions and set to vest over three years. Drake emphasized that his advisory focus is specifically on researching restaking risks. The disclosure followed concerns voiced by X user Cobie about a lack of transparency from Ethereum Foundation members who receive substantial compensation for advising projects that present conflicts of interest. Geth developer Peter Szilagyi also hinted at the influence that EigenLayer has over Ethereum developers. Drake clarified that the timing of his announcement was coincidental with Cobie’s remarks.
Cross-chain interoperability protocol deBridge expanded support for bridging to and from Gnosis Chain. The new deployment is powered by deBridge’s Interoperability-as-a-Service platform, which facilitates cross-chain transfers for both EVM and SVM-based blockchains. Earlier this year, Gnosis Chain achieved 200,000 active validators on its PoS network.
U.S. House to vote on FIT21
Into the Ether returns on June 4th
LayerZero detects 800k Sybils
Caldera Crusade campaign
Plurality book