Aave Proposal To Remove DAI As Collateral
The proposal is in response to MakerDAO's rapid expansion of its DAI credit facility to a potential 1 billion DAI.
Aave proposal to remove DAI as collateral.
Arbitrum proposal to activate Stylus.
Blobstream goes live on Arbitrum One.
Glo Dollar 2.0 philanthropic stablecoin.
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Aave contributor Marc Zeller put forward a governance proposal seeking to reduce the Loan-to-Value (LTV) ratio for DAI to 0% on all Aave deployments. The action is in response to MakerDAO's rapid expansion of its DAI credit facility to a potential 1 billion DAI, with plans to allocate 600 million DAI into Ethena's USDe stablecoin. One Aave community member stated that setting the LTV for DAI to 0% could effectively kill Aave's operations on Gnosis. Ethena's USDe stablecoin, which is backed by LSTs and derivative positions, would underpin the allocated DAI. Therefore, any instability in USDe's value could potentially destabilize DAI's peg.
Arbitrum introduced a proposal to activate Arbitrum Stylus on Arbitrum One and Arbitrum Nova mainnets. Stylus is a general-purpose programming environment that supports the use of WASM for writing smart contracts. Stylus supports development in high-level programming languages such as Rust, C, and C++. Stylus also reduces gas costs. Coined as EVM+, Stylus acts as an additive enhancement, ensuring seamless compatibility between Stylus and existing EVM contracts. Following community approval and completion of a security audit, a preliminary vote to activate Stylus initially on Arbitrum Sepolia will go live on Snapshot.
Blobstream is now live on Arbitrum One, allowing developers to deploy Orbit L3 chains that access Celestia for data availability. Blobstream is a one-way data attestation bridge that streams Celestia's DA layer to other chains. Developers can access efficient block space that is independently priced from gas fees on their base chain. The implementation allows L2 and L3 rollups to use Celestia light clients for Data Availability Sampling. Blobstream uses Zero-Knowledge Proofs to authenticate the validity of Celestia block headers for confirmation on targeted EVM chains. The deployment follows last week’s activation of Blobstream on Base.
Philanthropic stablecoin protocol Glo Dollar announced Glo Dollar 2.0, its roadmap toward unlocking billions in stablecoin yield for public goods. Coined as Automatic Public Goods Funding (AutoPGF), yield generated from USDGLO is automatically directed toward public goods initiatives. Glo Dollar’s roadmap includes credit, payroll, and fiat gateway solutions. USDGLO is a USD-pegged stablecoin backed by cash and U.S. Treasuries.
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Vitalik Outlines Next Steps For The Purge
The Purge aims to minimize the storage requirements for validators by eliminating historical blockchain data.
Vitalik outlines the next steps for The Purge.
Prisma Finance proposes a path forward.
OpenSea integrates bridging via Socket.
Maker proposes to allocate 600m DAI to USDe.
Vitalik Outlines Next Steps For The Purge
Vitalik outlines the next steps for The Purge. Prisma Finance proposes a path forward following an exploit. OpenSea integrates bridging via Socket. A...
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Vitalik Buterin outlined the next steps for The Purge, a crucial milestone on Ethereum's roadmap focused on minimizing the storage requirements for validators by discarding obsolete blockchain data. Buterin underscores the activation of EIP-6780 in Dencun, which reduced the complexity associated with the SELFDESTRUCT opcode. Dencun also introduced blob data that does not require indefinite storage. Looking ahead, Buterin emphasizes the need for Ethereum's simplification through measures such as phasing out infrequently used precompiles, implementing the historical data storage EIP-4444, refining the process for log storage, and migrating to the SimpleSerialize (SSZ) format.
Prisma Finance released a governance proposal aimed at conserving funds by proposing the elimination of the weekly protocol-owned liquidity (POL) and reducing the weekly distribution to vePRISMA holders by 50%, from $160,000 to $80,000. The initiative follows a security breach in which $11.6 million in user assets were drained. Prisma Finance has halted borrowing and the flow of new liquidity into its stablecoin protocol. $540,000 remains at risk due to users who have not yet revoked vulnerable token approvals. The attacker, claiming to be acting with whitehat intentions, has demanded a public apology from the Prisma team as a prerequisite for the return of funds
OpenSea now supports a token bridge and swap feature within its NFT marketplace, enabling users to seamlessly transfer assets between seven chains including Ethereum, Arbitrum, Base, Optimism, Zora, and Polygon. The feature supports swaps for ETH, WETH, USDC, MATIC, and DAI and leverages Socket’s liquidity aggregation protocol. While OpenSea can introduce a bridging fee in the future, it is currently offering the bridging service without additional fees. Socket's bridge plugin allows dapp developers to build their own bridge featuring custom widget designs, preset chain selections, approved bridge lists, and selected token lists. This functionality provides access to bridging with minimal coding effort.
Block Analitica member Monet Supply recommended that MakerDAO allocate a total of $600 million DAI across various USDe and sUSDe pools in the Morpho Spark DAI vault. USDe is an overcollateralized stablecoin that offers yield and is backed by stETH and positions in derivatives markets. The recommendation aims to gain exposure to USDe and generate increased revenue.
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EigenDA Launches On Holesky Testnet
Restakers, operators, rollup sequencers, and full nodes can now interact with EigenLayer on Holesky.
EigenDA launches on the Holesky testnet.
ConsenSys writes a comment letter to the SEC.
Fire sunsets its browser extension.
Missed slots post-mortem.
EigenDA Launches On Holesky Testnet
EigenLayer launches EigenDA on the Holesky testnet. ConsenSys writes a comment letter to the SEC. And Fire sunsets its browser extension. Read more: ...
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EigenLayer launched its restaking protocol and EigenDA data availability solution on the Holesky testnet, following the deprecation of the Goerli testnet. Users can now engage in restaking and operators can integrate with EigenLayer's infrastructure on the Holesky testnet. Rollup sequencers and full nodes can now interact with EigenDA on Holesky to post, retrieve, and verify data blobs. The launch also introduces Dual Quorum, a feature that enhances proof of stake network security by using two quorums. Dual Quorum reduces volatility risks and streamlines the process of bootstrapping a network. Initially, WETH can be used as a secondary staking asset, with plans to support native tokens for AVSs and rollups. EigenLayer is in the second of three launch phases and is anticipated to complete its full mainnet launch in Q2.
Ethereum infrastructure provider ConsenSys submitted a comment letter to the SEC advocating for the approval of an Ethereum ETF. The letter counters the SEC’s concerns over potential fraud and manipulation, alongside concerns regarding Ethereum’s proof of stake consensus design. ConsenSys highlights Ethereum's security as superior to the frameworks supporting existing Bitcoin-based ETFs. The letter underscores Ethereum’s fast block finality, distributed validation process, high attack costs, slashing penalties, and environmental benefits. The SEC has a decision deadline set for May 23rd on VanEck's Ethereum ETF application. Asset managers like Fidelity, BlackRock, and Bitwise have also applied for an ETH ETF.
Ethereum transaction simulator Fire announced that it will discontinue its browser extension on April 8th. Fire was a read-only browser extension that analyzed contract calldata to display a preview of what would happen if a transaction was executed. Over 60,000 users used the extension. Fire says it's shifting focus to build a non-custodial crypto trading app called Iceberg. Users are encouraged to transition to alternative security solutions.
Missed slot incident post-mortem
Foundation supports Base
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Degen partners with Stacks
Proof of Reserves as an AVS
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