Gm frENS. Happy Monday, cheers to a new week!

• Rainbow announces its $RNBW token.

• Vitalik writes about low-risk DeFi.

• Sky Protocol activates an upgrade penalty.

• BitMine holds 2% of the ETH supply.

Rainbow, a browser and mobile-based Ethereum wallet, introduced its native token $RNBW, expected to launch in Q4 2025, alongside new app features such as real-time pricing, balance updates, candlestick charts, and plans for Hyperliquid-powered perpetuals and a new game. Rainbow also published a public proposal to acquire Clanker, an AI-driven token deployment bot on Base. The proposal offers 4% of the total $RNBW token supply to $CLANKER holders, along with an airdrop of accrued CLANKER LP fees. However, Clanker’s developer, Jack Dishman, responded by stating that the Clanker team had already rejected Rainbow’s acquisition offer last week.

Ethereum creator Vitalik Buterin published an article over the weekend arguing that low-risk DeFi could play the same foundational role for Ethereum that search did for Google. Unlike speculative crypto, low-risk DeFi refers to safer, more stable, and transparent applications, such as payments, savings, and fully collateralized lending. Buterin emphasizes that low-risk DeFi is already helping sustain Ethereum’s economy while expanding global access to finance in a way that aligns with the cultural Ethereum values. Looking ahead, he envisions low-risk DeFi evolving into areas like undercollateralized lending powered by onchain reputation, prediction markets used for hedging strategies, and new forms of stable value.

Sky Protocol activated its delayed upgrade penalty, which imposes a 1% fee on MKR-to-SKY conversions. The penalty will increase by 1% every three months, aiming to incentivize users to upgrade their legacy MKR tokens to the new SKY governance token. The token migration process first began in May 2025, allowing holders to convert MKR at a fixed rate of 1 MKR = 24,000 SKY, as part of the MakerDAO rebrand to Sky. The new migration fees will accrue to the protocol, to be allocated by governance. Major exchanges, including Binance and Kraken, have already delisted MKR and auto-converted holdings to SKY.

BitMine Immersion Technologies announced that it now holds more than 2% of the Ethereum circulating supply. The company holds 2.4 million ETH, worth over $10 billion, making it the largest corporate holder of ETH by more than twofold. BitMine’s stock price has surged from $38 in early August to over $61 today. The company, chaired by Tom Lee, aims to acquire 5% of the total ETH supply. Total ETH in Strategic Reserves has surpassed 5 million, with ETFs holding an additional 6.81 million ETH.

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Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.

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Gm frENS. Happy Friday, you made it through the week!

• Fairblock confidential DeFi on Arbitrum.

• Optimism maintenance upgrade 16a.

• FG Nexus holds 49,715 ETH.

• Fileverse supports passkey login.

Fairblock, a confidential execution protocol, introduced Fairates, its fixed-rate lending platform powered by Arbitrum Stylus. The implementation uses Stylus to run Rust-based cryptographic operations that keep sensitive computations verifiable yet private onchain. Fairblock introduces Protected Trading, where orders and auctions are encrypted until execution, ensuring fair price discovery. Fairates uses leaderless sealed-bid auctions to establish a single clearing rate, allowing borrowers and lenders to interact without slippage, manipulation, or reliance on a central auctioneer. Bids are submitted in encrypted form, and once the auction closes, validators decrypt them collectively using multi-party computation (MPC) and threshold identity-based encryption (IBE).

Optimism is rolling out Upgrade 16a, a maintenance upgrade that temporarily removes interop withdrawal-proving code introduced in Upgrade 16. The change follows concerns from partners, aiming to ensure stability while interop features remain under development. Upgrade 16a also introduces system-level feature toggles, enabling safer, chain-specific rollouts and paving the way for future upgrades toward native Superchain interoperability. The upgrade is scheduled for activation on October 2, 2025, pending governance approval, which is currently in progress.

FG Nexus, a public Ethereum digital asset treasury (DAT) company, announced that it holds 49,715 ETH, valued at approximately $229 million. According to Maja Vujinovic, CEO of Digital Assets at FG Nexus, Ethereum remains the premier programmable asset for institutional reserves. The company plans to use proceeds from a recent sale to acquire additional ETH and to engage in staking, restaking, liquid staking, and DeFi strategies with the goal of increasing its ETH per share. FG Nexus is listed on the Nasdaq under the ticker FGNXP and currently ranks as the 14th-largest corporate holder of ETH.

• Top L2s consuming blobs

• Bitmine buys 15,427 ETH

• Stablecoin supply hits ATH

• Fileverse supports passkey login

• $213m ETH ETF net flows

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• NFT Strategy live on mainnet

• ETH Strategy PN week 3 recap

• The Rollup live with Tim Beiko

• Composability Space w/ Justin Drake

• Whiteboard to Mainnet episode 2

• Edge City residency list

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Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.