SNX Bridging Now Live On Hop Protocol

The Synthetix Council is providing Optimism SNX stakers in the Hop AMM with incentivized OP rewards.

SNX Bridging Now Live On Hop Protocol

Quick Take

  • Google Cloud launches a node hosting service.
  • LooksRare introduces zero royalty trading.
  • Hop Protocol adds support for Synthetix bridging.
  • ENS partners with UTU Protocol.

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Optimism Highlights 🔴✨

SNX Bridging Now Live On Hop Protocol
Hop Protocol added support for SNX token bridging between Ethereum and Optimism. The Synthetix Council, the governing body for the Synthetix Protocol, is providing Optimism SNX stakers in the Hop AMM with incentivized $OP rewards. Liquidity providers can currently earn upwards of 36% APY on SNX deposits. Hop Protocol is currently running its first liquidity mining program offering $HOP token rewards to LP token stakers on the bridge. A total of 2 million $HOP tokens are being distributed per month. HopDAO also used its Velodrome voting power to direct emissions towards a $HOP-$ETH pool on the Optimism-native exchange.

Google Cloud Node Hosting Service

Google Cloud launched a fully managed node-hosting service called Blockchain Node Engine. The service is initially available for deploying nodes on Ethereum with potential support for additional blockchains in the future. According to the company, the service actively monitors nodes and restarts them in the event of an outage. Blockchain Node Engine is designed for web3 developers, allowing them to relay transactions, deploy smart contracts, and write blockchain data on a dedicated node. A blockchain node hosts and synchronizes a copy of the network’s transaction history. Google aims to streamline the node setup process, which can normally take days to sync.

LooksRare Offers Zero Royalty Trading

NFT marketplace LooksRare is now offering zero royalties, making royalty payments optional for sellers. LooksRare is instead directing 25% of protocol fees to collection owners. The marketplace aims to reach 0% seller fees to remain competitive. The move comes after Magic Eden, X2Y2, and Blur launched royalty-free trading. Sellers must still pay the protocol’s 2% fee, of which 1.5% goes to LOOKS stakers and 0.5% goes to collections that have set up a receiving address. The marketplace fee will remain 1.5% on collections where a receiving address has not been set up. LooksRare is also allocating 95% of trading rewards to sellers as a rebate for its protocol fee.

All Core Devs Calls Are Back

Ethereum core developers reconvened after a four-week pause of the All Core Devs Call. The call kicked off with discussions on priorities for the Shanghai hard fork, the first post-merge upgrade that will include staking withdraws. They considered the inclusion of EIP-1153, EIP-4758, EOF, and EIP-4844. Developers agreed to continue working on EOF and 4844-specific devnets in parallel. EIP-4844, aka protodanksharding, is an intermediate sharding specification that will significantly lower transaction fees on L2 rollups. EVM Object Format (EOF) consists of a collection of EIPs for improvements to the EVM.

ENS Partners With UTU Protocol

ENS partnered with internet trust infrastructure provider UTU Protocol to support ENS name resolution and reverse resolution. Resolving ENS names will allow UTU Protocol users to add human-readable names to addresses on the platform. Users’ ENS names will be displayed when they rate and review sites and services with UTU.