CoW Swap Launches On Arbitrum
Users can now execute MEV-protected swaps on Arbitrum One. The launch features support for market, limit and TWAP orders.
CoW Swap launches on Arbitrum.
Taiko subsidizes near-empty blobs.
Avail secures $75 million in funding.
Coinbase Wallet expands payment links.
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CoW Swap, an MEV-protecting DEX aggregator, is now live on Arbitrum as part of its L2 expansion. The launch features advanced order types on Arbitrum, including limit orders and Time-Weighted Average Price orders. Originally launched in April 2021, CoW Swap leverages a network of solvers to match peer-to-peer orders. Users create intents for their orders through signed offchain messages. The intents are then fulfilled by a competitive network of independent fillers striving to secure optimal prices. Orders are grouped and processed offchain in batches to reduce gas costs. CoW Swap plans to extend its protocol across additional L2 networks.
Taiko, a based ZK-Rollup on Ethereum, is currently subsidizing thousands of dollars in transaction fees while posting nearly empty blobs to Ethereum L1. As a new chain, Taiko lacks enough user transactions to fill the blobs, which are posted roughly every twelve seconds. According to Blockworks analyst Dan Smith, Taiko is temporarily subsidizing fees to reduce latency. Some batches have filled less than 2% of the available blob space. Taiko has become a top purchaser of blobs, affecting the wider blob market. As a based rollup, Taiko depends on Ethereum block builders to sequence transactions. Taiko plans to activate based sequencing alongside its token launch on June 5th. Earlier today, Taiko Labs launched its Trailblazers Program, which allocates 10% of the total TAIKO token supply to users who engage in network activities.
Avail, a modular blockchain focused on data availability, announced that it has raised $75 million in funding across pre-seed, seed, and series A rounds. Avail originated from within Polygon Labs and later became an independent project in 2023, aiming to provide a scalable and secure solution for data storage, using both validity proofs and data availability sampling (DAS). It plans to use the fresh capital to further develop its unification layer. Avail Mainnet is anticipated to launch in the coming month.
Coinbase Wallet, Coinbase's self-custody wallet, has expanded its payment links feature to support over 100 ERC-20 tokens on Base. Users can now generate a payment link to send tokens via SMS. The recipient is given a multi-week window to claim the tokens. The tokens are automatically refunded to the sender if unclaimed.
Linea Halts Amid Velocore Exploit
Linea paused its sequencer and censored transactions from a Velocore attacker to prevent further withdrawals and help safeguard stolen funds.
Linea temporarily halts amid an exploit.
Biden vetos the repeal of SAB-121.
OP Labs update on baseline decentralization.
Matter Labs withdrawals ZK trademark applications.
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.
Line, an EVM-equivalent ZK-rollup by ConsenSys, temporarily halted block production on its L2 network as part of an initiative to recover stolen funds from DeFi protocol Velocore. Over the weekend, an attacker manipulated pool fee calculations to simulate large withdrawals and used a flash loan to drain all variable AMM pools on Velocore across zkSync and Linea. Linea reported that the attacker had bridged 700 ETH out of Linea using a third-party bridge. In response, Linea paused its sequencer and censored transactions from the attacker to prevent further withdrawals. Velocore has reported losses of $6.8 million and is currently in negotiations with the attacker. Linea's sequencer has resumed operations since the halt.
President Joe Biden vetoed the repeal of SEC Staff Accounting Bulletin (SAB) 121, a regulation that mandates custodians to account for the crypto assets in their possession as their own, requiring significant reserves to back the assets. The requirement makes it harder for custodians, including banks, to custody crypto assets. Biden argued that repealing the rule would restrict the SEC’s ability to establish necessary safeguards. However, the rule has been labeled as illegal for violating the Administrative Procedures Act. Congress sucessfully voted to repeal SAB-121 in mid-May with bipartisan support. Biden previously declared his intention to veto the repeal even before the congressional vote took place.
OP Labs released a progress update in achieving baseline decentralization, a status characterized by Permissionless Output Proposals (PoPs) and decentralized control over bridge upgrades, both which are now live on the OP Sepolia testnet. Permissionless Output Proposals enable users to transfer assets from Layer 2 to Layer 1 without relying on a sequencer. Decentralizing bridge upgrade control allows users to verify their withdrawals through a dispute game system. The Security Council will still be able to intervene in the dispute system during emergency situations. Pending OP governance approval for mainnet, the upgrades will reduce centralized control and enhance user autonomy.
Matter Labs, the developer of zkSync, has chosen to withdraw its ZK trademark applications. The company concluded that establishing a universally accepted and neutrally perceived group, as initially envisioned, would be unachievable. According to The Block, zkSync is expected to release its native token later this month.
Connext rebrands to Everclear
Vote to onboard weETH on Sparklend
CoW Swap expanding to L2s
HAI supports rETH
Onchain Summer OP incentives
ERC-6900 resource site
RPL tokenomics changes
Nillion incentivized testnet
PeerDAS Added To Pectra Upgrade
PeerDAS would activated in its own epoch, separate from Pectra. The strategy aims to avoid delaying Pectra, allowing PeerDAS to be activated later if needed.
PeerDAS added to the Pectra upgrade.
Uniswap FND delays a fee switch vote.
Matter Labs proposes the ZK Pledge.
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.
Ethereum client teams have agreed to incorporate PeerDAS EIP-7594 into the upcoming Pectra upgrade. PeerDAS will be activated in its own epoch, separate from Pectra. The strategy aims to avoid delaying Pectra, with a decision on whether PeerDAS activates concurrently with Pectra or at a later date to be made in the future. PeerDAS is a data availability sampling solution that leverages existing peer-to-peer components, allowing nodes to access parts of blob data without downloading the entire dataset. This feature is especially beneficial for rollups. Pectra will be a packed upgrade, with eight EIPs confirmed for inclusion. EOF, which includes 11 EIPs, is likely to be part of it, and now PeerDAS.
The Uniswap Foundation postponed an onchain vote to implement Uniswap Protocol Governance, an upgrade that would introduce functionality for a protocol fee switch. Originally scheduled to go live this morning, the vote was delayed following the completion of three audits and a successful temp check vote on Snapshot in March. Just hours before the planned vote, the Foundation announced a delay until further notice, citing a newly identified issue that requires further investigation, although specifics about the issue were not disclosed. The upgrade is designed to allow a portion of pool fees to be directed toward users who have staked and delegated their UNI tokens. While this proposal would enable the fee switch functionality, activating it would require a separate, subsequent vote. Over the past three years, several attempts to introduce a fee switch have faced rejection.
Matter Labs, the company behind zkSync, introduced the ZK Pledge, a proposal aiming to ensure that the term "ZK" remains accessible and shielded from trademark squatters. The initiative seeks the establishment of a new community-managed legal entity to hold ZK-related trademarks, which then would issue free trademark licenses to all. Matter Labs has not agreed to retract its existing ZK trademark applications, but the company has committed to financially supporting the new entity and intends to transfer the ZK trademarks to it. The proposal comes after public criticism from the founders of Polyhedra, StarkWare, Scroll, and Polygon, who called out Matter Labs for attempting to claim the ZK trademark.
225m ARB proposal vote
EIP-7716: defend solo staker viability