• $878 million in 24hr liquidations.

• EigenLayer is removing LST deposit caps.

• EspressoSys expands to run on 100 nodes.

• Uniswap deploys on Blast.

According to data from Coinglass, over $878 million in cryptocurrency has been liquidated in the past 24 hours. The surge comes amid a market sell-off earlier today, with Bitcoin dropping to a low of $65,000 and Ethereum falling to $3,190. Of the total liquidations, $784 million were from long positions, marking the largest liquidation event since March 5th, which saw just over $1 billion in liquidations. Ethereum's price is down by 8% in the last 24 hours, currently trading at $3,220. The total crypto market cap has fallen by 6.5%, from $2.7 trillion to $2.55 trillion.

EigenLayer announced plans to unpause all Liquid Staking Tokens (LSTs) deposit caps on Tuesday, April 16th at 9:00 AM PST. EigenLayer supports deposits for 12 LSTs. The move follows the completion of a three-phase mainnet launch, which includes support for restakers, operators, and actively validated services. Previously, in February, a 33% cap on restaking points for each LST category was imposed during the last deposit unpause. EigenLayer holds approximately 1.6 million ETH in LST deposits and 2.8 million ETH in native restaking deposits, totaling around 4.4 million ETH. EigenLayer's total value locked (TVL) is over $13.5 billion.

EspressoSys is expanding its network to run on 100 node operators across six continents with its upcoming Cappuccino testnet launch. The testnet features a sequencing marketplace where rollups can auction sequencing slots and a Byzantine Fault Tolerant (BFT) consensus finality layer that guarantees transaction immutability and rapid finalization on Ethereum L1. Set to launch later this month, the Cappuccino testnet will be used to test a decentralized, high-performance sequencing platform. The Espresso sequencer offers shared sequencing services, ensuring data availability and fast transaction finality for rollups.

Uniswap is now live on Blast, marking it as the 9th supported EVM-compatible chain on the DEX. Blast, an optimistic rollup that offers native yield, launched on mainnet in February and currently has a total value locked (TVL) of $1.5 billion, a decrease from the $2.3 billion worth of locked deposits held before its launch. Blast is also preparing for its Token Generation Event (TGE) scheduled for the second quarter of this year.

• History of Safe

• HK Spot ETH ETF approval

• Stack introduces claim frame

• Morpho Blue reaches $1b in deposits

• PartyDAO supports LP fees

• Dan Finlay addresses EIP-3074 concerns

• Spark allocates 100m DAI to USDe pool

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• EIP-3074 added to the Pectra upgrade.

• Six new AVSs go live on EigenLayer.

• ERC-7683 cross-chain intents standard.

• Chainlink CCIP supports native ETH transfers.

Ethereum core developers agreed to add EIP-3074 to Ethereum's upcoming Pectra upgrade. EIP-3074 introduces the AUTH and AUTHCALL opcodes, allowing Externally Owned Accounts (EOAs) to delegate their control to a smart contract. It enables new capabilities for EOAs, such as batch transactions and sponsored transactions. With EIP-3074, transactions like approving and swapping can be batched together, enhancing the user experience. Core developers also agreed to add EIP-2935, which aims to store historical block hashes in a contract. Last month, Max EB EIP-7251 was added to Pectra. In total, seven EIPs are slated for inclusion in the Pectra upgrade so far.

EigenLayer announced six new Actively Validated Services (AVSs) that are live on mainnet. The new AVSs include AltLayer’s MACH rollups, Brevis' Coprocessor, Eoracle's Ethereum native oracle, Lagrange's State Committee, Witness Chain's DePIN Coordination Layer, and XterioGames MACH restaked rollup. Operators on EigenLayer can now secure the new AVSs, although the mechanisms for rewards and penalties are not yet live. Restakers have the option to delegate their stakes to operators who secure the new services. AVSs are networks that are underpinned by the economic security provided by EigenLayer restakers.

Uniswap, in partnership with Across Protocol, has proposed a new ERC standard for cross-chain intents. The standard is designed to enable fillers from various systems that adopt the standard to participate and fulfill intents, making the process more efficient. It aims to provide users with faster execution and lower fees. 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. The ERC, assigned as ERC-7683, is open for feedback.

Chainlink's Cross-Chain Interoperability Protocol (CCIP) now supports the transfer of native Ethereum (ETH) across Ethereum, Arbitrum, and Optimism. CCIP facilitates three token transfer mechanisms, including burn and mint, lock and mint, and lock and unlock. Native ETH transfers use the lock and unlock mechanism. The process involves wrapping ETH into WETH, locking it, and then unlocking an equal amount of WETH on the destination network where it can be unwrapped back into ETH. Bridging ETH through CCIP incurs a percentage-based fee, which is part of a new pricing strategy aiming to capture higher transaction volume.

Circle launched a new smart contract functionality that enables holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to convert their shares into USDC. The update is designed to provide BUIDL investors with a fast and low-cost method for exchanging their shares. The BUIDL Fund, which is a tokenized fund on Ethereum, provides accredited investors access to USD yields.

• Conduit supports EigenDA

• ArbitrumDAO truns one

• Omni announces its Genesis Airdrop

• Coinbase recognition letter from FinCEN

• SIP-377: Add aUSDc collateral

• Nektar announces restaking network

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• Uniswap receives a Wells notice from the SEC.

• Chainlink Functions go live on Base.

• Layer N launches its phase 1 testnet.

• Swell opens deposits for its L2 network.

Uniswap Labs received a Wells notice from the SEC, indicating the regulatory agency’s intention to bring an enforcement action against the decentralized exchange. Hayden Adams, Uniswap's founder and CEO, expressed his readiness to fight the SEC's move, emphasizing his commitment to defend Uniswap and the broader industry. Marvin Ammori, Uniswap's Chief Legal Officer, said that the SEC’s arguments are weak, adding that the commission does not have the jurisdiction to regulate non-securities assets, lacks the grounds to categorize the Uniswap protocol as either a securities exchange or broker, and that the UNI token does not qualify as a security. This Wells notice is part of a broader pattern of SEC enforcement actions targeting major crypto exchanges like Coinbase, Kraken, and Shapeshift.

Chainlink launched Chainlink Functions on Base, allowing developers to connect smart contracts to APIs for executing trust-minimized computations. Chainlink Functions allow for the retrieval of API data and the execution of custom offchain logic. Developers on Base can now access to the Chainlink Functions Playground to integrate new features into their dapps. Chainlink is a decentralized oracle network that connects smart contracts with external data sources. With over $5.3 billion in assets on its L2 network, Base is now the third-largest rollup by total value locked.

Layer N launched the first phase of its public testnet. Layer N is a L2 network of rollups interconnected through a shared communication and liquidity layer. Layer N supports the deployment of general VMs on its execution layer and uses EigenDA for data availability. Phase one introduces NordVM as the network's first custom VM. Users can now interact with NordVM by bridging and conducting transactions on the rollup. The roadmap for Layer N includes subsequent phases that introduce NEVM and the StateNet communication layer.

Swell Network opened deposits for its L2 network, allowing users to deposit native ETH, stETH, swETH, rswETH, eETH, and ALT tokens. The L2 network, built on Polygon CDK, introduces a restaked rollup architecture that offers native restaking yields and uses rswETH as its native gas fees. The Swell L2 is scheduled for a mainnet rollout in the third quarter of 2024.

• Dune supports Lens Protocol data

• EigenDA hits $500m delegated stake

• DELV launches Hyperdrive testnet

• Reach launches on Base

• Nethermind v1.26.0-exp.4 release

• Plonky3 advancements

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