Morpho Publishes Midnight Whitepaper
Midnight is a non-custodial fixed-rate lending protocol built around isolated, immutable, permissionlessly created markets with fixed maturities.
Morpho published the whitepaper for Midnight, its non-custodial fixed-rate lending protocol, built around isolated, immutable, permissionlessly created markets with fixed maturities. Midnight implements lending and borrowing through the trading of credit and debt units, akin to zero-coupon bonds, that settle at market maturity. The implied rate is derived from the discount at which units trade, giving users predictable fixed funding costs.
The design eliminates the need for locked liquidity, with funds only sourced at execution time. The solution allows lenders to earn yield across DeFi, and withdraw only when a lending offer is filled. Markets will support single and multi-collateral configurations. The protocol also realizes bad debt at liquidation. Morpho also released the code for Midnight as the new protocol undergoes audits.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
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Base Azul Goes Live On Mainnet
Base ships Azul, its first standalone upgrade, introducing multiproofs, a new execution and consensus client, and 5,000 TPS scaling.
Base activated Azul, its first standalone network upgrade since departing Optimism's Superchain, now live on mainnet. The upgrade brings multiproofs, combining Trusted Execution Environments (TEE) with ZK proofs to increase security and prepare for shorter withdrawal times. It also moves Base closer to Stage 2 decentralization.
Also included is the CLZ opcode and Osaka repricings from Ethereum, a new single execution client (base-reth-node), a new consensus client (base-consensus) built on OP Kona, and performance improvements scaling the network up to 5,000 TPS.
Base plans to ship an enshrined token standard, Flashblock access lists, followed by native account abstraction in a future upgrade later this year.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
#955 - SoFiUSD Stablecoin Hits $100m Market Cap On Ethereum
SoFi rolls out its stablecoin. Cash App supports stablecoin transfers. And Aztec Labs acquires ZKPassport.
SoFi rolls out SoFiUSD on Ethereum.
Mastercard granted a BitLicense.
Cash App enables USDC transfers.
Aztec Labs acquires Obsidion.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
SoFi Technologies rolled out SoFiUSD, its native U.S. dollar stablecoin, to SoFi members. The stablecoin already has over $100 million in market cap on Ethereum mainnet and is backed 1:1 to U.S. dollars. SoFi Bank, N.A. becomes the first nationally chartered retail bank to issue a stablecoin on Ethereum, with tokenized deposit functionality also in development.
Mastercard Transaction Services was granted a BitLicense by the New York State Department of Financial Services, allowing it to engage with stablecoins and tokenized deposits in the state of New York. The license supports Mastercard's broader strategy to bridge payment and settlement infrastructure for digital assets while maintaining its existing compliance.
Cash App launched support for stablecoins, allowing its nearly 60 million users to send and receive USDC directly from their existing balance with no wallet setup required. The feature is live on Ethereum, Polygon, and Arbitrum, with auto-conversion to USD at a 1:1 ratio with no fees. The feature is unavailable to New York residents.
Aztec Labs announced its acquisition of Obsidion, the team behind ZKPassport, a ZK-powered private identity verification platform. ZKPassport allows users to prove age and nationality from over 130 supported government IDs without revealing their full personal data. ZKPassport will remain open source under Aztec Labs, with co-founders Michael Elliot and Theo Madzou staying on to expand the protocol into new consumer products.
ETH Daily x Ethereum Fnd live stream
Devcon Supporters program
SharpLink DAT 1yr anniversary
TheDAO Security QF results
Wintermute $200k to Ethereum Security
Protocol funding mechanism discourse
Vitalik on CROPS AI
Transparency Alliance introduced
Robinhood agentic accounts
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created