• 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.

• zkSync completes v24 upgrade

• Conduit supports Orbit x Celestia

• Nethermind v1.27.0-rc release

• Lens releases new dev docs

• Chain abstraction overview

• Potential HK ETH Staking ETF

• BUILD announces airdrop 1

• EOF is included in Pectra.

• Celestia supports Arbitrum Orbit.

• Taiko enables permissionless proving.

• Base surpasses OP Mainnet in TVL.

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Ethereum core developers agreed to include the EVM Object Format (EOF) in the upcoming Pectra upgrade. EOF, as outlined in EIP-7692, involves about 11 EIPs that provide an opt-in container for EVM code to improve code validation and introduce new functionality. If EOF becomes a blocker, it will be separated into a different fork to ensure Pectra can proceed without major delays. EOF will not be part of the initial devnet 1 release. The Pectra upgrade will also include EIP-7702, an account abstraction standard proposed by Vitalik Buterin. Overall, Pectra is considered a “packed” upgrade with 19 EIPs already planned for inclusion, marking it as one of the most extensive upgrades in Ethereum history.

Celestia now supports production-ready Arbitrum Orbit chain deployments on mainnet, allowing developers to use Celestia's data availability for their custom L2 or L3 chains. The integration is powered by Blobstream, a one-way data attestation bridge that streams data from Celestia's data availability layer to Arbitrum Orbit chains. Blobstream allows for the verification of Celestia’s data roots through an onchain light client on Ethereum L1, enabling chains to access block space that is priced independently from the base gas fees on their underlying chain. Additionally, the integration features an Ethereum Fallback feature, which permits rollups to rely on Ethereum for data availability.

Taiko released support for permissionless proposing and proving on its based ZK Rollup, enabling anyone to run a Taiko node and prover. A prover generates validity proofs to verify the accuracy of transactions within a rollup block, while a proposer bundles transactions into blocks for inclusion. In a based rollup like Taiko, rollup transactions are sequenced by Ethereum L1 block builders, removing the need for centralized sequencers.

Base, the L2 network developed by Coinbase, has overtaken OP Mainnet by total value locked (TVL), becoming the largest chain on the Superchain. Base now holds a TVL of $7.85 billion, surpassing OP Mainnet's $7.81 billion. Arbitrum remains the top rollup with nearly $20 million in TVL. Base is also leading by activity with nearly 64 million transactions in the past 30 days.

• ACDE #189 recap

• Verkle updates

• Rollup.wtf performance metrics

• Upcoming Geth hotfix

• OP RF4 deadline extended

• Apply for ENS Small Grants

• Robinhood Crypto is acquiring Bitsmap

• Wormhole opens “stake for governance”

• Coinbase launches its Smart Wallet.

• zkSync announces its V24 upgrade date.

• EigenLayer AVS rewards live on testnet.

• Geth lowers minimum miner tips.

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Coinbase launched its new Coinbase Smart Wallet, now available to all users. The wallet enables users to quickly set up a self-custodial wallet using just a passkey, eliminating the need for recovery phrases. It supports sponsored transactions, allowing users to set up the wallet or mint NFTs without having to directly pay for gas fees. Coinbase Smart Wallet supports various passkey login methods including Google Chrome profiles, iCloud, Face ID, fingerprint, or a Yubikey. The wallet is also portable across-apps, enabling users to log into any dapp that is integrated with the Coinbase Wallet SDK. Coinbase Smart Wallet supports eight initial networks: Ethereum, Base, Optimism, Arbitrum, Polygon, Avalanche, BNB, and Zora.

zkSync announced that it will deploy its v24 protocol upgrade to mainnet on June 6th. The upgrade introduces the Bridgehub, support for Validium mode, and new P256Verify and ecPairing precompiles. The Bridgehub consists of new L1 contracts designed to enable interoperability and shared liquidity across ZK Stack chains. Validium mode features support for using a custom data availability layer and a custom gas token. The new precompiles will facilitate secure transaction signing using secure enclaves, Webauthn, or Android Keychain. Additional enhancements include price adjustments to operations, expanded blob capacity, and future support for EVM Bytecode. During the upgrade window, withdrawals from the zkSync Era native bridge will be paused for 24 hours, which may lead to delayed bridge transactions.

EigenLayer introduced support for AVS rewards on testnet. The MVP release allows AVSs to configure reward distributions, node operators to earn rewards, and restakers to claim rewards from their delegated stakes. The reward system supports the distribution of ERC-20 tokens from AVSs to operators and restakers and includes APIs for setting up recurring rewards. EigenLayer is in its third and final launch phase, which involves Actively Validated Services (AVS). While AVSs are operational on mainnet, rewards, and slashing functionalities are still under development. EigenLayer plans to roll out AVS rewards on mainnet in the coming months and will release a comprehensive system upgrade by the end of the year.

Geth, the leading Ethereum execution client, released Geth v1.14.4, an update that reduces the minimum value for priority fees, also referred to as miner tips, from 1 gwei to 0.001 gwei. The reduction in priority tips is intended to enhance block utilization by enabling more transactions to be included in Geth blocks The update also increases the block import speed and introduces an Ether supply live tracer, among other enhancements.

• VanEck targets $22K ETH price by 2030

• StandWithCrypto reaches 1m members

• Benefits of EOF

• TAIKO token claim goes live

• ENS integrates Drips Network

• EtherFi sends 1% ETHFI to Protocol Guild

• RocketPool tokenomics summary

• OP RF applications close soon

• Family ConnectKit 1.8.0 release

• Linea releases Alpha v3.2

• Ham Chain L3 on OP Stack

• Paxos launches Lift Dollar

• Interactive Ethereum Roadmap

• Unlonely CEO drained out of $40k