Plans For Goerli Testnet Deprecation

Ethereum client teams agreed to deactivate their Goerli testnet validators one month after Dencun is activated on mainnet.

Plans For Goerli Testnet Deprecation

Quick Take

  • Client teams plan to deactivate Goerli validators.
  • Kyber Network recovers $4.7 million.
  • Sealed.art launches its NFT marketplace.
  • Uniswap Foundation writes a comment letter to the IRS.

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Plans For Goerli Testnet Deprecation

Ethereum client teams agreed to deactivate their Goerli testnet validators either three months after Dencun is activated on Goerli or one month after Dencun goes live on mainnet, whichever occurs later. Initially, plans were in place to end support for Goerli by the end of this year. Optimistically, the Dencun upgrade can be activated on Goerli as early as December 20th. Developers are being advised to transition from Goerli to the Sepolia testnet. New testnets are generally introduced every two years and are designed to operate for a maximum of five years. In early Fall, the Holešky testnet was introduced, marking the first merged-from-genesis PoS public testnet. This week, developers will launch a 12th devnet with the latest EL changes. Optimism announced that it plans to fully decommission its OP Goerli testnet in January 2024.

Kyber Network Recovers $4.7 Million

Kyber Network recovered $4.67 million from bots that took $5.7 million by front-running an exploit on KyberSwap. A negotiation led to the agreement of a 10% bounty in exchange for returning 90% of the assets. Last week, an attacker executed a complex exploit on KyberSwap Elastic smart contracts, siphoning over $50 million. Elastic LPs are still advised to withdraw their funds. The same 10% bounty offer was extended to the main attacker in hopes of recovering 90% of the stolen funds. However, despite intentions to negotiate, the attacker has not yet returned any funds. KyberSwap's Aggregator API and classic pools and farms continue to operate as usual.

Sealed.art Launches Its NFT Marketplace

Sealed.art, a new NFT marketplace co-developed by Defillama's 0xNgmi, is now open for all users. The marketplace features a Vickrey auction system, where collectors place blind bids and the highest bidder wins but only pays the amount of the second-highest bid. The marketplace also eliminates gas fees for placing bids. Sealed.art is tailored for artists and collectors and aims to offer a minimal platform for discovering art. It also aims to provide time and cost savings for collectors. Sealed.art offers a custom discovery feed that is based on what a user collects. The marketplace is now live on Ethereum Mainnet and takes a 2% fee for every auction.

Uniswap Foundation Comment Letter To IRS

The Uniswap Foundation submitted a comment letter to the IRS regarding a proposed rulemaking on Gross Proceeds and Basis Reporting by Brokers. The proposal seeks to classify DeFi protocols under the same tax reporting requirements as centralized exchanges. The foundation emphasizes that the proposed regulations are not feasible for decentralized systems. The foundation proposes the creation of a separate regulatory framework tailored for fully decentralized exchanges.

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