BlackRock Tokenized Asset Fund
The fund already has an initial deposit of $100 million in USDC on Ethereum.
BlackRock tokenized asset fund.
Increasing the block gas limit.
Arbitrum ArbOS phase 2 update.
Fault proofs go live on OP Sepolia.
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BlackRock launched the BlackRock USD Institutional Digital Liquidity Fund, a new tokenized asset fund that has an initial investment of $100 million in USDC on Ethereum. Operating under the ticker BUIDL, the fund is accessible to accredited investors and leverages Securitize Markets for the tokenization of its digital asset securities. The tokenized fund is incorporated in the British Virgin Islands. Earlier this year, BlackRock launched a Spot Bitcoin ETF and is currently awaiting approval for a Spot Ethereum ETF. As the world's largest asset management firm, BlackRock oversees over $9 trillion in assets under management.
Ethereum community members Eric Conoar and Mariano Conti launched pumpthegas.org, a campaign aiming to advocate for an increase in the block gas limit to 40 million, a 33% rise from the existing 30 million gas limit. Conoar suggests that the increase could potentially lower transaction fees on L1 Ethereum by about 15-33%. Implementing this modification does not require a hardfork, allowing validators to adopt the change already by changing their node configuration. The campaign also calls on operators of large pools to adopt the increase. Marc Zeller, a contributor to Aave, compares the gas limit increase to adding a new lane on a highway, offering only a temporary solution to network congestion.
The second stage of the ArbOS Atlas upgrade for Arbitrum One has been completed, bringing the median transaction fee on the network down to approximately one cent. The second phase of the upgrade eliminates the L1 surplus fee per compressed byte, lowering it from 32 gwei to zero, and reduces the L2 minimum base fee from 0.1 to 0.01 gwei. The improvements are additive to the cost efficiencies from blob transactions, which were introduced as part of the first phase of ArbOS last week. The update also benefits L3 Orbit chains that settle on Arbitrum One. Arbitrum Orbit L2 chains are required to implement the ArbOS upgrade independently.
The OP Stack fault proof system has launched on the OP Sepolia testnet, marking a critical milestone in the journey towards achieving Stage 2 decentralization for OP Stack chains. The fault proof system enables permissionless validation and for invalid ETH and ERC-20 token withdrawals to be challenged and rejected. Optimism contributors are now focused on developing multiple proof schemes and preparing the fault-proof system for a mainnet deployment.
Relay supports gasless USDC transfers
Grayscale adds staking to its ETH ETF
Yearn Vaults V3 goes live
Avocado Email Wallet
Dolomite raises $900k seed
Scaffold-ETH-2 bounty
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EtherFi ETHFI Airdrop Goes Live
Users can now claim the ETHFI governance token airdrop. EtherFi also launched alongside its Liquid yield-vault product.
EtherFi launches its ETHFI token airdrop.
EF final reminder to migrate from Goerli.
Gnosis Chain unveils uRamp.
Aavegotchi selects Base as settlement layer.
EtherFi ETHFI Airdrop Goes Live
EtherFi launches its ETHFI token airdrop. The Ethereum Foundation issues a final reminder to migrate away from Goerli. Gnosis Chain unveils uRamp. An...
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The Ethereum Foundation released a final reminder advising users and developers to migrate from the Goerli testnet to either Sepolia or Holesky testnets as soon as possible. Goerli was initially set to be completely phased out by April 13. However, the majority of node operators on Goerli have already decommissioned their validators. Network participation on Goerli has dwindled to below 5%. Goerli hasn't achieved finality since March 5th, which is the last time it reached a participation rate of over 66%. According to data from Beaconcha.in, Goerli stopped processing blocks on March 12th. Holesky is the first Ethereum testnet to be merged from Genesis and designed for testing validation and staking.
EtherFi, the largest liquid restaking protocol by TVL, launched its ETHFI governance token airdrop alongside its Liquid yield-vault product. Eligible users who restaked ETH on EtherFi can now claim a share of 68 million ETHFI tokens. Users received a median of 175 ETHFI tokens. ETHFI has a total token supply of 1 billion. Roughly 27 million tokens were allocated to EtherFi partners. 55% of the token supply is allocated to investors and the core team behind the protocol. At the time of writing, ETHFI is trading at $3.29, which brings its Fully Diluted Valuation to $3.2 billion. An additional 5% of the token’s supply is allocated to a second airdrop season.
Gnosis Chain unveiled uRamp, a fiat gateway that enables users to convert euros from their bank account into the EURe stablecoin on Gnosis Chain. The conversion is facilitated through Monerium, a regulated Electronic Money Institution and issuer of the EURe token. uRamp leverages LI.FI's liquidity aggregation to support asset conversion across Gnosis Chain, Polygon, and Ethereum. uRamp uses the IBAN standard for direct fund transfers between users' wallets and their Euro bank accounts, bypassing the need for centralized exchanges. uRamp also offers conversion capabilities for multiple EVM-compatible assets, including xDAI, wxDAI, GNO, MATIC, USDC, USDT, and WETH.
Aavegotchi, a blockchain game that integrates DeFi and NFT elements, has chosen Base as the settlement layer for Gotchichain. Originally developed using Polygon's tech stack, Gotchichain is an L3 chain designed specifically for gaming, set to support the Aavegotchi Gaming Console. The launch of Gotchichain is planned for the second quarter of 2024.
Base doubles tx volume post-Dencun
Arbitrum Security Council elections
PartyDAO explains ticker situation
Judge finds SEC bad faith conduct
Attacknet tool release
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OP Stack Fault Proofs On OP Sepolia
The permissionless fault proof system allows malicious transactions to be challenged over a dispute window.
OP Stack fault proofs on OP Sepolia.
Alchemix goes live on Arbitrum One.
Uniswap research on L2 network efficiency.
Senators request SEC not approve crypto ETFs.
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OP Labs will incorporate permissionless OP Stack fault proofs into the OP Sepolia testnet through an upcoming upgrade scheduled for Tuesday, March 19th. Bridges, centralized exchanges, and developers using custom withdrawal solutions on the OP Stack will need to make logic changes due to the introduction of breaking changes. As a result of the fault-proof integration, withdrawals between OP Sepolia and Sepolia will now require a seven-day processing period. The OP Stack fault proof system consists of three main elements: the Fault Proof Program (FPP), the Fault Proof Virtual Machine (FPVM), and a dispute resolution game protocol.
Alchemix Finance, a self-repaying lending protocol, is now live on Arbitrum One. Users can now deposit into alUSD or alETH vaults to borrow against their assets. Alchemix uses yield earned on collateral to repay loans. Supported collaterals include aUSDC, aDAI, aUSDT, yvUSDC, yvDAI, aETH, yvWETH, and Lido’s wstETH. The deployment on Arbitrum makes Alchemix more accessible with lower network fees and a 50% lower Loan-to-Value (LTV) ratio compared to mainnet. There are initial deposit caps set at $100k for USDC and 200 ETH for stETH. Alchemix’s alUSD stablecoin will remain backed by liquidity on Ethereum Mainnet.
Uniswap released research on the advantages of Uniswap transactions on Layer 2 networks. The research revealed that 97.5% of transactions under $125,000 performed better on L2s over Ethereum. L2s also demonstrated 75% greater liquidity concentration than Ethereum, leading to increased capital efficiency for liquidity providers. Thanks to lower transaction costs, liquidity providers can more frequently rebalance their Uniswap positions. On average, liquidity providers operating across the full price range on L2s enjoyed roughly 20% higher arbitrage profits than on mainnet. The research data predates the Dencun hardfork, hinting at even greater efficiencies with the introduction of blob transactions.
U.S. Senators from Rhode Island and California have requested SEC Chairman Gary Gensler to not approve any ETFs associated with cryptocurrencies other than Bitcoin. They argue that other cryptocurrencies lack the necessary trading volumes, suggesting that their markets are not adequately developed to back financial instruments. In response, Coinbase's legal officer, Paul Grewal, pointed out Ethereum's deep market liquidity, noting that only two stocks in the S&P 500 have higher trading volume. The SEC is set to decide on a spot Ethereum ETF by May 23rd. The first spot Bitcoin ETF was approved earlier this year.
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