Coinbase Adds Support For ENS Domains
Coinbase users can claim an alice.cb.id domain as their web3 username.
Coinbase Wallet adds support for ENS subdomains.
Lido expands stETH to support more L2s.
EIP-4361 moves to a review phase.
Genesis Among Lenders Affected by 3AC
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Coinbase has added ENS support for Coinbase Wallet users. The exchange has opted to use its DNS domain “cb.id” instead of a “.eth” extension for the feature. Users can claim an alice.cb.id domain as their web3 username. The integration is built on ENS infrastructure using the DNS import feature. Coinbase decided not to use a “.eth” extension because some users may believe the domain only works for sending Ethereum. Users who already own an ENS domain can decide if they want to use their domain or the cb.id subdomain as their primary username. Coinbase also plans to offer subdomains ending in .eth at a later date. The move comes amid increasing volume in ENS activity, with over 122k domains registered in June. Samsung.eth was purchased last week for 60 ETH. Amazon.eth currently holds a bid of $1 million USDC, making it the second largest domain sale should it be sold. The ENS token is up 13.6% over the last 24 hours.
Lido Finance is expanding its liquid staking stETH token across L2 chains. Lido has already integrated wstETH within the Argent wallet for zkSync users. stETH is also integrated into Aztec Network through its zk.money application. Arbitrum and Optimism are among the next set of L2s that Lido will support. Initially, users will be able to bridge wstETH between Ethereum and L2 networks. wstETH is the wrapped, non-rebasing version of stETH. Lido then plans to enable ETH staking deposits directly on L2 in order to take advantage of low-cost transactions. Lido has been live on Ethereum since the launch of the Beacon Chain in December 2020.
Sign-In with Ethereum EIP-4361 has moved from being a draft to being in a review phase. Sign-In with Ethereum is an authentication method that enables users to control their digital identity with their Ethereum account and ENS profile. The integration allows users to sign into a dapp by signing a message with their Ethereum wallet. Review is the third phase in the EIP process. Once the EIP is peer-reviewed, it will move to the Last Call phase, which is the final review window for an EIP before it moves to become a Final standard. Sign-in with Ethereum will mark a significant milestone as it hopes to become the web3 standard for logins.
Crypto payments platform Genesis Asia Pacific Pte Ltd is among the latest companies affected by the 3AC collapse, having lent the hedge fund $2.3 billion. The details were revealed in a new legal document published by Teneo, the firm appointed to oversee 3AC's liquidation. The loans were undercollateralized with an average weighted margin call of about 80%. Genesis liquidated GBTC and AVAX collateral when 3AC failed to meet the margin call. 3AC still owes Genesis an estimated $462 million. Genesis is owned by Digital Currency Group, which has assumed certain Genesis liabilities to ensure ongoing operations for the company.
Ethereum Community Conference 5 (ethCC) kicks off in Paris this week. The three-day event will take place from July 19th-21st featuring participation from DeFi Saver, POAP, StarkWare, and Lens Protocol among others. Polygon has teased they will make a special announcement while at the event. ethCC is the largest annual European Ethereum event focused on technology.
Vitalik Releases Book On Proof Of Stake
The book is set to release on Tuesday, September 13th, the same week as The Merge.
Vitalik Buterin releases Proof of Stake book.
Premint hack drains over $300k in NFTs.
Arbitrum releases the Nitro Goerli Testnet.
Empiric Network introduces its oracle network.
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Ethereum creator Vitalik Buterin is releasing a new book called “Proof of Stake: The Making of Ethereum and the Philosophy.” The book is set to release on Tuesday, September 13th, the same week that Ethereum is expected to undergo The Merge. The book features a collection of essays covering free speech, prediction markets, and crypto cities. The edition also includes context from media studies scholar Nathan Schneider and a copy of the Ethereum white paper. The book is currently available for pre-order as a Kindle eBook or paperback copy.
Offchain Labs released its Nitro Goerli Testnet for the Arbitrum Rollup. Users and developers can now add the Nitro Goerli Testnet RPC to their MetaMask. The company will also be migrating the Rinkeby testnet to Nitro this month. However, the Nitro Rinkeby Testnet will be spun down at some point in the future as the Ethereum Foundation plans to deprecate the Rinkeby testnet. The Nitro Goerli Testnet will remain the long-term testnet for Arbitrum Rollup, giving developers confidence that the testnet will operate for the foreseeable future. In the coming weeks, Arbitrum will work with infrastructure providers to ensure developers have the tools needed for building on the Nitro Goerli Testnet. The updates bring Arbitrum one step closer to launching Nitro on mainnet.
NFT access list tool premint.xyz suffered a phishing attack resulting in an estimated $400k worth of NFTs being stolen. The company claims a file was manipulated on its official premint.xyz website by an unknown third party. After midnight PT on Sunday, users were being presented with a malicious wallet connection prompt when visiting the website. Users who fell victim for the attack unintentionally signed an “approve all” transaction, sending all their NFTs to the attacker. Premint took down the site after learning of the compromise early morning on Sunday. The attack resulted in the loss of hundreds of NFTs, including 13 Otherdeeds NFTs by BAYC. Premint said they will provide an update after collecting information on the event.
Empiric Network introduced the launch of its decentralized ZK-native oracle network built on Starknet. The project also announced a $7 million seed round led by Variant with participation from Alameda, Gemini, and Jane Street among others. Empiric plans to use the funds toward hiring. An oracle connects smart contracts with off-chain data in the real world, such as price feeds or the temperature in a given city. Most oracles are currently permissioned, rely on trust, and are difficult to audit. Empiric Network hopes to change this by moving oracles on-chain via low-cost zk-powered transactions. Empiric Network will receive proprietary data from exchanges like Gemini and FTX to power its oracles.
Crypto Punk #4156 sold for 2,691 ETH, worth about $3.3 million. The punk is only one of 24 in the entire collection with an ape trait. This comes after a portrait Crypto Punk #4464 sold for 2,500 ETH last week amid a wave in new bids for ape-trait punks. The Crypto Punk floor is currently 83.72 ETH nearly doubling from last month’s low of 45.77 ETH.
0x API Slippage Protection
The feature enables MEV-aware smart order routing for DEX trades.
0x Protocol introduced slippage protection.
Celsius will have its First Day Hearing.
ETH.LIMO releases a V2 upgrade.
DeversiFi rebrands as Rhino.Fi.
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0x Protocol has introduced slippage protection for its 0x API. The feature enables MEV-aware smart order routing for DEX trades. The slippage protection works by incorporating slippage forecasts into the 0x API to provide users with the optimal trade route, inclusive of slippage and gas fees. Since 2020, MEV bots have extracted more than $650M from DEX traders. 0x also released a report that revealed larger trades experience significantly greater slippage. AMM trades larger than $100k incur an average slippage greater than 20 basis points. The 0x API is a DEX aggregation API for Web3 developers.
Insolvent crypto lending platform Celsius Network has shared that the company will attend its First Day Hearing for Chapter 11 bankruptcy on Monday, July 18th. The US Bankruptcy Court for the Southern District of New York will hear Celsius’s motion and considerations for the next steps in the bankruptcy process. A recent court document filed by Celsius CEO Alex Mashinsky revealed the company owes $1.2 billion in liabilities. The filing also claimed the company holds $600 million worth of its native CEL token, however, the token’s market cap is currently less than $350 million. Celsius stated they will provide the public with updates following the court hearing.
ETH.LIMO, a content delivery network solution for ENS and IPFS content, has released V2 of its infrastructure stack. The upgrade includes faster load times and support for CCIP-Read on L2 and off-chain lookups. CCIP Read (EIP 3668) is a protocol and framework that allows contracts to request external data as part of a call or transaction. ETH.LIMO also added support for fallback record checking on Nimi, a personal web3 profile page. Even without a defined content hash record, ENS users can view their web3 profile by adding .limo to their domain name (for example ethdaily.eth.limo). Nimi pulls ENS avatars, text records, and displays POAPs for a given wallet.
DEX DeversiFi has rebranded to Rhino, focusing on becoming an L2 gateway for multi-chain DeFi. Rhino is an L2 network built using StarkEx, a volition developed by StarkWare. The platform gives users access to Rhino’s native DEX, lending on Aave and Compound, and cross-chain bridging. Similar to dydx, users must deposit funds to Rhino to access low-cost transactions on the network.
Russian President Vladimir Putin signed a new law banning the use of digital assets for payments in his country. The move comes after mixed regulatory signals from the Russian government, with the central bank calling for an outright crypto ban back in January 2022. The new law allows patrons to invest in digital assets but disallows its use as a means of payment. The law prohibits the transfer or acceptance of digital financial assets as consideration for transferred goods performed works, or rendered services. Since the war in Ukraine, crypto exchanges such as Binance and Coinbase have restricted Russians from using exchanges in compliance with U.S. and E.U. sanctions. Putin has previously expressed enthusiasm for Bitcoin mining, stating his country has a surplus of electricity for mining the asset.