• Vitalik outlines the next steps for The Purge.

• Prisma Finance proposes a path forward.

• OpenSea integrates bridging via Socket.

• Maker proposes to allocate 600m DAI to USDe.

Vitalik Outlines Next Steps For The Purge

Vitalik outlines the next steps for The Purge. Prisma Finance proposes a path forward following an exploit. OpenSea integrates bridging via Socket. A...

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Vitalik Buterin outlined the next steps for The Purge, a crucial milestone on Ethereum's roadmap focused on minimizing the storage requirements for validators by discarding obsolete blockchain data. Buterin underscores the activation of EIP-6780 in Dencun, which reduced the complexity associated with the SELFDESTRUCT opcode. Dencun also introduced blob data that does not require indefinite storage. Looking ahead, Buterin emphasizes the need for Ethereum's simplification through measures such as phasing out infrequently used precompiles, implementing the historical data storage EIP-4444, refining the process for log storage, and migrating to the SimpleSerialize (SSZ) format.

Prisma Finance released a governance proposal aimed at conserving funds by proposing the elimination of the weekly protocol-owned liquidity (POL) and reducing the weekly distribution to vePRISMA holders by 50%, from $160,000 to $80,000. The initiative follows a security breach in which $11.6 million in user assets were drained. Prisma Finance has halted borrowing and the flow of new liquidity into its stablecoin protocol. $540,000 remains at risk due to users who have not yet revoked vulnerable token approvals. The attacker, claiming to be acting with whitehat intentions, has demanded a public apology from the Prisma team as a prerequisite for the return of funds

OpenSea now supports a token bridge and swap feature within its NFT marketplace, enabling users to seamlessly transfer assets between seven chains including Ethereum, Arbitrum, Base, Optimism, Zora, and Polygon. The feature supports swaps for ETH, WETH, USDC, MATIC, and DAI and leverages Socket’s liquidity aggregation protocol. While OpenSea can introduce a bridging fee in the future, it is currently offering the bridging service without additional fees. Socket's bridge plugin allows dapp developers to build their own bridge featuring custom widget designs, preset chain selections, approved bridge lists, and selected token lists. This functionality provides access to bridging with minimal coding effort.

Block Analitica member Monet Supply recommended that MakerDAO allocate a total of $600 million DAI across various USDe and sUSDe pools in the Morpho Spark DAI vault. USDe is an overcollateralized stablecoin that offers yield and is backed by stETH and positions in derivatives markets. The recommendation aims to gain exposure to USDe and generate increased revenue.

• Rainbow Wallet turns five

• 5 million users across L2s

• CoW Swap I’m Feeling Lucky

• Nodeinfra Polygon CDK RaaS provider

• Mike Neuder: Issuance Issues

• Reward curve with tempered issuance

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• EigenDA launches on the Holesky testnet.

• ConsenSys writes a comment letter to the SEC.

• Fire sunsets its browser extension.

• Missed slots post-mortem.

EigenDA Launches On Holesky Testnet

EigenLayer launches EigenDA on the Holesky testnet. ConsenSys writes a comment letter to the SEC. And Fire sunsets its browser extension. Read more: ...

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EigenLayer launched its restaking protocol and EigenDA data availability solution on the Holesky testnet, following the deprecation of the Goerli testnet. Users can now engage in restaking and operators can integrate with EigenLayer's infrastructure on the Holesky testnet. Rollup sequencers and full nodes can now interact with EigenDA on Holesky to post, retrieve, and verify data blobs. The launch also introduces Dual Quorum, a feature that enhances proof of stake network security by using two quorums. Dual Quorum reduces volatility risks and streamlines the process of bootstrapping a network. Initially, WETH can be used as a secondary staking asset, with plans to support native tokens for AVSs and rollups. EigenLayer is in the second of three launch phases and is anticipated to complete its full mainnet launch in Q2.

Ethereum infrastructure provider ConsenSys submitted a comment letter to the SEC advocating for the approval of an Ethereum ETF. The letter counters the SEC’s concerns over potential fraud and manipulation, alongside concerns regarding Ethereum’s proof of stake consensus design. ConsenSys highlights Ethereum's security as superior to the frameworks supporting existing Bitcoin-based ETFs. The letter underscores Ethereum’s fast block finality, distributed validation process, high attack costs, slashing penalties, and environmental benefits. The SEC has a decision deadline set for May 23rd on VanEck's Ethereum ETF application. Asset managers like Fidelity, BlackRock, and Bitwise have also applied for an ETH ETF.

Ethereum transaction simulator Fire announced that it will discontinue its browser extension on April 8th. Fire was a read-only browser extension that analyzed contract calldata to display a preview of what would happen if a transaction was executed. Over 60,000 users used the extension. Fire says it's shifting focus to build a non-custodial crypto trading app called Iceberg. Users are encouraged to transition to alternative security solutions.

• Missed slot incident post-mortem

• Foundation supports Base

• Vitalik writes about memecoins

• Degen partners with Stacks

• Proof of Reserves as an AVS

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• Syndicate introduces Degen Chain.

• AltLayer launches ALT token staking.

• Vitalik on directions for Ethereum scaling.

• Circle to support native USDC on zkSync Era.

Degen Chain L3 On Arbirtum Orbit

Syndicate introduces Degen Chain as an L3 on Arbirtum Orbit. AltLayer launches ALT token staking. Vitalik Buterin shared insights on directions for E...

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Syndicate, a Web3 infrastructure provider, launched Degen Chain, a L3 chain designed for the Degen community token that offers ultra-low-cost transactions. The chain is built on the Arbitrum Orbit tech stack, settles on Base, and leverages AnyTrust for data availability. Degen Chain also uses $DEGEN as its native gas token. Degen Chain is now live on chain ID 666666666. The initial launch features a bridge and a block explorer. Degen, which is an ERC-20 token on Base, originated from the Degen channel on Farcaster in January 2024. Degen introduced a distribution model that allows users to tip each other with points for creating high-quality content.

AltLayer, a rollup-as-a-service provider, launched ALT token staking and unveiled Mach Alpha, an Actively Validated Service (AVS) on EigenLayer. Mach Alpha will offer fast confirmations and decentralized validation for  OP Stack and Arbitrum Orbit rollup transactions. ALT token holders can now stake their tokens to earn rewards for helping secure the Mach AVS. Mach Alpha aims to address slow block finalization times. ALT token staking marks the first of four launch phases for Mach Alpha. In future phases, AltLayer will support restaked assets and integrate operators once EigenLayer goes live on mainnet. AltLayer’s platform supports custom rollups on the OP Stack and Arbitrum Orbit frameworks.

Ethereum creator Vitalik Buterin shared insights on future directions for Ethereum scaling following the Dencun upgrade and introduction of blobs. He highlighted a shift in Ethereum scaling, moving from foundation scaling efforts to focused, incremental enhancements. He also says that the developer focus will change to the application layer. Ethereum will maintain its L2-centric roadmap, with applications migrating from L1 to L2 to benefit from faster and more cost-effective transactions. An upcoming upgrade is Data Availability Sampling (DAS), which aims to increase the data space to 16 MB per slot. Incremental scaling improvements include a gradual increase in blob capacity, advancements in data compression, and EIP-7623, which seeks to reduce the maximum block size. Buterin notes that with reduced transaction costs on L2s, there’s no excuse for Ethereum not to reach widespread adoption.

Native USDC, the official version of the stablecoin that is compatible with Circle’s Cross-Chain Transfer Protocol, will now be supported on zkSync Era mainnet. The Cross-Chain Transfer Protocol allows native USDC to be natively burned on a source chain and natively minted on a destination chain, removing the need for locked liquidity. Bridged versions of USDC on zkSync Era will now be labeled as USDC.e. Native USDC is already live on Ethereum Mainnet, OP Mainnet, and Arbitrum One.

• ACDE #184 recap

• Base reaches $3b TVL

• Prisma Finance suffers an exploit

• Erigon introduces Erigon++

• Erigon v2.58.0 patch release

• DeFi Saver integrates Safe

• SAFE transferability updates

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