Spot ETH ETF Likely To Be Approved
ETH surges by 18% to a monthly high of $3,650 amid increased approval odds for a Spot ETH ETF.
Spot ETH ETF odds increase to 75%.
Across releases an ERC-7683.org.
Justin Drake advises the Eigen Foundation.
DeBridge now supports Gnosis Chain.
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Bloomberg analysts Eric Balchunas and James Seyffart raised their odds of the SEC approving a spot Ether ETF to 75%, up from an earlier estimate of 25%. Following their increased approval ratings, the price of ether surged by 18%, reaching a monthly peak of approximately $3,650. Balchunas noted a complete shift in the SEC's approach, potentially due to heightened political pressure. Balchunas capped his rating at 75% until there are further signs, such as updates on filings. The SEC has a decision deadline this Thursday, May 23rd to either approve or deny VanEck's Ethereum ETF application. According to CoinDesk, the SEC also asked exchanges to update 19b-4 filings for the potential trading of a Spot ETH ETF.
Across Protocol released erc7683.org, an informational hub for its ERC-7683 cross-chain intents standard. The standard, built in collaboration with Uniswap, will allow order fillers from any system to participate and fulfill intents, as long as they follow the same order structure. It aims to provide faster and lower-cost execution for users. Uniswap plans to integrate the ERC into its UniswapX intent-based trading protocol. Intents are signed constraints that allow users to outsource their orders to a network of independent fillers. The fillers not only compete to fulfill orders but also manage order routing and handle the native gas fees with different destination chains.
Ethereum Foundation researcher Justin Drake publicly disclosed his advisory role with the EigenLayer Foundation, which includes considerable EIGEN token compensation projected to be worth millions and set to vest over three years. Drake emphasized that his advisory focus is specifically on researching restaking risks. The disclosure followed concerns voiced by X user Cobie about a lack of transparency from Ethereum Foundation members who receive substantial compensation for advising projects that present conflicts of interest. Geth developer Peter Szilagyi also hinted at the influence that EigenLayer has over Ethereum developers. Drake clarified that the timing of his announcement was coincidental with Cobie’s remarks.
Cross-chain interoperability protocol deBridge expanded support for bridging to and from Gnosis Chain. The new deployment is powered by deBridge’s Interoperability-as-a-Service platform, which facilitates cross-chain transfers for both EVM and SVM-based blockchains. Earlier this year, Gnosis Chain achieved 200,000 active validators on its PoS network.
U.S. House to vote on FIT21
Into the Ether returns on June 4th
LayerZero detects 800k Sybils
Caldera Crusade campaign
Plurality book
Vitalik Addresses Centralization Concerns
Geth developer Peter Szilagyi expressed concerns about centralizing solutions such as pooled staking and increasing node hardware requirements.
Vitalik comments on improving decentralization.
EigenLayer releases an update for EigenPods.
Lens releases NFT Open Actions.
Optimism to launch Fault Proofs on mainnet.
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 creator Vitalik Buterin responded to concerns highlighted by Geth developer Peter Szilagyi about tendencies toward centralizing solutions in Ethereum—such as MEV, pooled staking, and increasing node hardware requirements. Buterin stated that although challenges exist, the issues are being actively addressed. He pointed to the proposer/builder separation and inclusion lists as mechanisms to mitigate validator centralization. For solo staking, advancements like Verkle trees, EIP-4444, and 0x01 withdrawal credentials help reduce entry barriers, Buterin further advocated for continuous innovation, such as type-1 ZK-EVMs that can outsource computation verification, making node operations more accessible.
EigenLayer released an update for EigenPod smart contracts, addressing an issue related to inconsistent accounting. Later this year, EigenLayer will deploy a comprehensive system overhaul, which will introduce checkpoint proofs to enhance the accuracy and efficiency of managing ETH balances. The redesign will feature batched withdrawal claiming to decrease gas costs and allow native restakers to restake consensus and execution layer rewards. The upgrade will be production-ready for Pectra, featuring flexible proving windows. Ethereum validators point their stake to EigenPods to participate in native restaking.
Lens Protocol rolled out NFT Open Actions, powered by Decent, which enables NFT minting from various chains directly on the Lens feed. Leveraging Decent's cross-chain router, users can pay minting costs using tokens from networks like ETH mainnet, Arbitrum, Base, Optimism, Zora Network, and Polygon. Users activate the feature by embedding an NFT URL from supported platforms such as SuperRare, Pods, and Zora into their Lens posts. An additional 5% minting fee is applied to NFTs minted directly on Lens, with the proceeds distributed among the dapp used, the creator, the Lens Treasury, and users who helped amplify the content.
Optimism published a proposal to deploy Fault Proofs on OP mainnet, enabling permissionless validation. Currently, only a permissioned entity processes withdrawals for the network. The activation of Fault Proofs transitions OP Stack chains towards Stage 2 decentralization. The upgrade introduces a dispute game mechanism where invalid ETH and ERC-20 token withdrawals can be challenged and rejected. Optimism governance will vote on the proposal in voting cycle #23a.
zkSync v24 release this summer
Decentralizing Farcaster channels
Gnosis buyback proposal
Taiko Introduces Raiko Multi-Prover
A new multi-prover supporting SP1, Risc0, and SGX processors.
Taiko introduces its Raiko multi-prover.
The U.S. Senate repeals SAB 121.
PoolTogether launches on Base.
Base Onchain Summer Buildathon.
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.
Taiko, an EVM-equivalent ZK-Rollup, introduced Raiko, a new multi-prover supporting SP1, Risc0, and SGX processors. The block prover simplifies Zero-Knowledge (ZK) and Trusted Execution Environment (TEE) guest program compilation, block input formation, execution, benchmarking, and monitoring. A multi-prover system strengthens network security by reducing the vulnerability of a single point of failure. Taiko is building a Type 1 ZK-EVM, prioritizing full EVM-equivalence over ZK-proof generation speed. With the continued development of Raiko, Taiko aims to achieve real-time proving of blocks and support for multichain block proofs.
The U.S. Senate voted 60-38 to repeal SEC Staff Accounting Bulletin (SAB) 121, which provides accounting guidance requiring custodians to treat the crypto assets they hold as their own for accounting purposes. The rule requires that custodians of crypto assets, including banks, maintain significant reserves to offset the crypto assets. The rule would notably impact crypto ETF products, which derive their value from the underlying crypto assets. The repeal of SAB-121 is now in the hands of President Biden, who can either sign the repeal or side with the SEC and veto it. The Biden administration previously announced its intention to deny the repeal.
Prize savings protocol PoolTogether is now live on Base mainnet. Users can now deposit USDC, wstETH, cbETH, AERO, and POOL tokens into a savings account for a chance to win a share of daily prizes. The protocol uses deposits to earn a yield on protocols like Aave. The interest earned from user deposits is then raffled to depositors with winning chances weighted by their average deposit size. PoolTogether is also live on Ethereum and OP Mainnet. The protocol released its V5 iteration in October, which eliminated the need for manual prize claims and introduced support for prize vaults backed by ERC-4626 compatible tokens. PoolTogether is currently offering boosted prizes for Base prize vaults over the next 30 days.
Base announced the Onchain Summer Buildathon, a global online hackathon offering 200 ETH in prizes for Base builders. The hackathon starts on May 31st and ends on June 30th, with winners announced on July 16th. The event features eight tracks: payments, discovery, creator, social, gaming, commerce, unplugged, and trading. Each track offers 20 ETH in prizes, with an additional 40 ETH bonus pool for projects using Coinbase tools. Builders can get started by creating their profile on Devfolio.