This story was featured in Episode 410.

Obol Network unveiled its research and development roadmap for the next iteration of its distributed validator technology protocol, dubbed Obol 2.0. The roadmap includes initiatives for shifting towards Publicly Verifiable Secret Sharing, enhancing security against key leaks, and adopting more efficient consensus protocols. The roadmap also aims to support advanced mechanisms for block building and proposal and better support liquid staking protocols. The initiative is being pursued in partnership with Nethermind Research, which is set to develop its own implementation for Obol. By distributing a validator's key among several nodes, DVs increase Ethereum's resilience, ensuring continued validation.

• Avail unveils the Avail Trinity.

• DeFi Saver releases a LlamaLend dashboard.

• Mike Nueder on the risks of LRTs.

• Renzo hits $500m TVL.

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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.

Ether is up 2% over the last 24 hours, hitting a peak of $3,200, a price last seen in May 2022.

Avail, a modular blockchain focused on data availability, introduced the Avail Trinity, a framework comprising of three key phases, including Avail DA, Avail Nexus, and Fusion Security. Avail Trinity is designed to enhance scalability, unification, and security for the rollup ecosystem. Avail DA provides a scalable and secure platform for data storage, leveraging validity proofs and data availability sampling (DAS). Avail Nexus enhances interoperability by serving as a unifying coordination rollup that includes a proof aggregation layer and a mechanism for sequencer selection. Fusion Security increases Avail’s cryptoeconomic security by leveraging native assets from other ecosystems, like Ethereum, to support Avail's consensus mechanism. Avail also secured a $27 million seed investment, led by Founders Fund and Dragonfly.

DeFi Saver released a new interface for managing positions on LlamaLend, a lending protocol centered around crvUSD developed by Curve Finance. LlamaLend introduces isolated pools that integrate with crvUSD, alongside an innovative liquidation approach named the Lending-Liquidating AMM Algorithm (LLAMMA). The LLAMMA uses a soft liquidation process for collateral, converting it into crvUSD, instead of an abrupt liquidation, which can trigger a cascade of liquidations for large positions. The mechanism reverses the conversion from crvUSD to the original collateral when market conditions improve. DeFi Saver is a dashboard aggregator for managing assets across various protocols.

Ethereum researcher Mike Neuder and Gauntlet CEO Tarun Chitra have co-authored an Ethresearch article on the risks associated with liquid restaking tokens (LRTs). Their study compares LRTs with bonds, L1 staking, EigenLayer AVS positions, and Liquid Staking Tokens (LSTs), examining factors such as liquidity, yield, duration, default risk, and how they fit into an investment portfolio. The article points out the risks of LRTs, including the increased complexity from layering protocols, additional slashing conditions, macroeconomic and market fluctuations, and operational risks. The paper aims to underscore the increased risk that accompanies the rewards offered by holding LRTs. The LRT ecosystem's TVL has surpasses $4 billion.

• Trestle announces an Arbitrum Orbit chain

• Renzo reaches $500m TVL

• Polygon ZK-EVM Elderberry upgrade

• Light client roadmap for electra

• Optimism supports Snap Sync

• Ethereum sequencing/preconf call

• Introducing PRCL network token

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• UF proposes a UNI rewards mechanism.

• Optimism Ecotone network upgrade.

• Initial EIPs for Pectra.

• Zircuit launches LRT restaking.

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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.

Uniswap Foundation Governance Lead Erin Koen published a proposal seeking to introduce a mechanism that rewards UNI token holders for delegating and staking their tokens. The rewards mechanism aims to revitalize Uniswap governance by incentivizing active delegation. The mechanism would introduce two new smart contracts to the Uniswap protocol for the permissionless collection of protocol fees and their distribution to actively participating UNI token holders. A Snapshot vote for the proposal will go live in one week on March 1st, followed by an onchain proposal vote on March 8th, assuming no blockers arise. Following the proposal’s release, Uniswap's UNI governance token has seen its price surge by over 50% in the past 24 hours. Previously, GFX Labs had put forward a proposal to activate a fee switch for Uniswap, but the proposal did not progress due to regulatory concerns.

Optimism announced the Ecotone network upgrade, an update for OP Stack chains that incorporates EIP-4844 blob transaction support. The upgrade is set to go live on March 14th at 00:00 UTC, one day after the Dencun upgrade on the Ethereum mainnet. Blobs represent a new storage solution with a distinct fee market, separate from traditional transaction gas fees. Blobs will dramatically decrease rollup data availability costs, with Optimism predicting reductions by as much as 80x. The Ecotone upgrade also integrates Dencun L1 extensions, such as support for transient storage, memory copy, self-destruct only in the same transaction, and the BLOBBASEFEE opcode. OP Stack node operators will need to prepare their nodes for the upgrade.

Ethereum core developers agreed to include EIP-6110, EIP-7002, and EIP-7549 in the Pectra upgrade, which is the next upgrade after Dencun. EIP-6110 seeks to embed validator deposits directly into the Execution Layer, simplifying the deposit process. EIP-7002 introduces a method for validators to exit the beacon chain using 0x01 withdrawal credentials. EIP-7549 proposes to enhance the efficiency of Casper FFG clients by excluding certain committee information from consensus votes. Additionally, developers are exploring the possibility of adding inclusion lists EIP-7547. More complex proposals like verkle tries have been deferred to the Osaka upgrade to avoid delaying Pectra, which will potentially go live by the end of the year.

Zircuit, an EVM-compatible ZK-Rollup, has opened deposits for its restaked-restaked ETH protocol, offering Zircuit points for LRT deposits. Assets deposited are funneled into a staking pool. The protocol currently supports deposits for ezETH, rswETH, rsETH, LsETH, and stETH. The assets will be migrated to the Zircuit rollup following its mainnet launch.

• ERC-4337 deploys EntryPoint v0.7

• Tornado Cash fundraiser extended

• RPL rocketnomics proposal

• Etherscan supports DNS lookup

• Ritual x EigenLayer

• Velvet Capital live on Arbitrum

• Dopex rebrands as Stryke

• Kraken shares SEC story

• Base 2024 Grant recipients

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