Uniswap 1BPS Fee Tier On Optimism
A 1 bps fee tier provides traders with better rates and increases swap volume.
Uniswap proposes a 1bp fee tier on Optimism.
Teller launches “buy now pay later” for NFTs.
PoolTogether adds support for Optimism.
Hop Protocol releases its transfer delay post-mortem.
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A proposal for a 1bp fee tier on UniswapV3 for the Optimism network is now live for voting. A 1 bps fee tier provides traders with better rates and increases swap volume. Uniswap is targeting Optimism first as projects are currently incentivized to bring activity to the L2 by way of its $OP governance token grants. Last year, Uniswap implemented a 1 bp fee tier for V3 on Ethereum Mainnet and Polygon. Curve governance later moved to change the 3pool base fee to 1bp in order to stay competitive. Currently, the lowest fee tier on Uniswap for L2 networks is 5bps. Voting for the proposal is taking place on Ethereum Mainnet until July 15th.
PoolTogether, a prize savings protocol, has added support for deposits on Optimism. The protocol already supports USDC deposits on Ethereum, Polygon, and Avalanche. With PoolTogether, users deposit USDC into a savings account for a chance to win a share of daily prizes. The protocol uses deposits to earn yield on protocols like Aave. PoolTogether uses ChainLink VRFs to raffle the interest earned from user deposits. Each depositor has a chance to win interest payments weighted by their average deposit size. The platform is coined as a No Loss protocol because user funds are not wagered and can be withdrawn at any time.
Reaper Farm, an auto-compounding yield aggregator, has added support for Optimism. The integration currently supports deposits into four of Reaper Farm’s Crypts, which are buckets with various strategies including pooling, leveraging, and staking. The platform first launched on Fantom and remains in the beta phase.
Teller Protocol has revealed the launch of its “Ape Now, Pay Later” dapp for financing NFTs. The application works by locking NFTs in an escrow wallet during the repayment cycle. The NFT is then released once a loan is paid in full. Currently, the service offers 90-day loans at 30% APR. Depending on the project, buyers are required to pay a minimum down payment between 25% and 50%. If a borrower fails to make regular monthly payments, the down payment and NFT is liquidated to repay the loan. The funds are provided by users who offer liquidity through Teller’s crypto lending platform.
Hop Protocol released its transfer delay post-mortem, revealing issues it faced from Arbitrum Odyssey’s bridge week. During heavy traffic, some users reported a delay of up to 3 days when bridging assets. One issue was tied to the number of transfers being made exceeding the number of transfers the bonder could process. Hop also faced RPC issues including downtime and 42 missed events from the Alchemy RPC, which is used by some bonders. A third party also allowed its users to bridge with Hop even when there was no liquidity. All transfers on the bridge were eventually completed without any loss of funds.
Robinhood Enables Transfers On Polygon PoS
Eligible users can send and receive ETH, LINK, COMP, MATIC, and SHIB on Polygon..
Robinhood enables transfers on Polygon.
OpenZeppelin releases contracts for Cairo.
Ren Protocol adds support for Optimism
Ethereum’s 9th mainnet shadow fork is set for July 14th,
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Robinhood added support for ERC-20 token deposits and withdrawals on the Polygon network. Eligible Robinhood users who signed up for the WebWallets waitlist are now able to send and receive ETH, LINK, COMP, MATIC, and SHIB on the polygon network. Earlier this month, Robinhood enabled external crypto transfers for the first time.
Ren, a protocol for cross-chain asset transfers, has added support for Optimistic Ethereum. Users can now use the RenBridge to transfer assets from more than 7 chains, including Bitcoin and Zcash, directly to Optimism. The protocol mints assets from other chains as ERC-20 tokens on Ethereum, such as renBTC for Bitcoin. Users can then burn the ERC-20 tokens to release the underlying asset on the origin chain. Developers can now use the RenJS SDK to build cross-chain dapps on Optimism.
Blockchain.com CEO Peter Smith revealed in a letter to shareholders that the company stands to lose $270 million from a defaulted loan to 3AC. Smith reassured investors that Blockchain.com remains solvent and customers will not be impacted by the loss. According to the letter, 3AC had previously borrowed and repaid over $700 million worth of cryptocurrency during its relationship with Blockchain.com over the past four years. Blockchain.com was among the group of lenders to liquidate collateral from 3AC. A recent court filing revealed 3AC's founder's whereabouts remain unknown.
The 9th shadow fork for the merge on Ethereum Mainnet is scheduled for July 14th at 2:00 PM UTC. It is one of many shadow forks happening on a regular basis as the merge approaches. A “shadow fork” is when the state of an existing network is mirrored onto a merged PoS network. Transactions from the main network can be replayed onto the shadow network as they occur. Shadow forks are used for testing different merge scenarios, such as a block reorg.
OpenZeppelin released smart contracts for Cairo v0.2.0. Cairo is the native smart contract language for StarkNet, a ZK-rollup developed by StarkWare. The new release introduces support for Namespaces, a mechanism for distinguishing between private, public, external, and storage libraries. The release also includes an interactive interface for building contract components in Cairo. OpenZeppelin is a security audit and smart contract standard development firm. The company’s contracts and open-source libraries have become a staple for the industry, helping reduce the amount of code that must be written manually by developers.
Sudoswap Launches sudoAMM
Users can create NFT liquidity pools that gradually buy or sell NFTs along price curves.
Sudoswap releases its sudoAMM.
Celsius pays off its $41.2 million loan.
StarkWare plans a regenesis for StarkNet Alpha.
Dune Analytics releases shared workspaces.
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Sudoswap announced the launch of sudoAMM, an NFT marketplace protocol. Users can create NFT liquidity pools that gradually buy or sell NFTs along price curves. Users can deposit NFTs or ERC20 tokens as liquidity to earn fees from a pool. Sellers can also list their NFTs at fixed prices on the marketplace. Developers can source liquidity from Sudoswap into other Ethereum applications. Previously, Sudoswap was a platform for facilitating one-to-one NFT swaps. On July 1st, Sudoswap announced the rebranding of its platform into an NFT marketplace. Sudoswap plans to add support for LPs with ERC1155 and ERC20 token pools.
Celsius paid off a $41.2 million DAI loan on MakerDAO to unlock 21,962 WBTC, worth about $440 million. Celsius later transferred the WBTC to crypto exchange FTX. The company then paid back $23 million towards loans in Aave and Compound. Celsius still owes $236 million in DeFi loans, which are backed by more than $700 million worth of collateral. The crypto lender also faces a new lawsuit alleging the company artificially inflated the price of its $CEL token, failed to hedge risk, and engaged in activities that amounted to fraud. The lawsuit was filed by asset manager KeyFi which deployed customer funds for the platform. Jason Stone, co-founder of KeyFi, claims Celsius owes them a significant amount of money for services rendered. Stone also revealed that he is behind the formerly anonymous Twitter account @0x_b1.
StarkWare is planning a regenesis on its mainnet release of StarkNet Alpha. Coined as the “No-Sweat State Reset,” the regenesis will be a more lean and secure deployment of StarkNet Alpha with a new state. The new release will run in parallel to the current StarkNet Alpha network. A regenesis involves the launch of a new set of smart contracts. Users will be required to redeploy new accounts and must migrate assets from the old StarkNet Alpha to the new one. The regenesis will be the Final State Reset (FSR) before the final production release of StarkNet. The release is expected to go live in Q4 2022.
During this week's All Core Devs call, developments on EIP-4844 proto-danksharding were discussed. EIP-4844 proposes an intermediate sharding specification for Ethereum which sets the foundation for full sharding, while also immediately enabling lower transaction fees on L2s. The call discussed coordination of the KZG Ceremony, a process for providing a random input for the proving scheme used to verify shard data. The call also focused on various design & implementation issues related to the EIP, including a fee market for blobs and finding a more optimal BLS (cryptographic signature) library.
Dune Analytics, a free-to-use platform for querying blockchain data with SQL, launched a shared workspace feature called Teams. Users who work on multiple projects can now have separate workspaces for each project. The release also includes user roles for onboarding team members as viewers, editors, and admins.