EthHub Weekly #156

EIP-1559 to go live in July, Yam Finance announces DAO House, Yearn partners announced and much more!

Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)

🔥 Let it Burn

After almost 2 years since EIP-1559 was created, it was finally announced on last weeks AllCoreDev call that it will be included in the July network upgrade for Ethereum (codenamed London). Obviously this is a huge deal for the entire Ethereum ecosystem as this EIP has been in the works for a long time and extremely hotly anticipated - it feels amazing to know that it’s just a few months away from being live on mainnet!

Oh and today’s edition of the EthHub Weekly marks the 3 year anniversary of this newsletter! If you’re an OG subscriber you’ll remember when it was called ‘Block by Block’ back in 2018 but I wanted to extend a big thank you to all subscribers old and new - thanks for all of your support over these last 3 years and here’s to another 3 years!

Have a great week everyone!


News of the Week

🚀 Publicly-listed Company Meitu Buys BTC and ETH

Meitu, a Chinese photo retouching app listed in Hong Kong, has announced it purchased $40 million worth of BTC and ETH.

The firm said in disclosure Sunday on the Hong Kong Stock Exchange that it has bought 15,000 units of ETH and 379.12 units of BTC in open market transactions at an average cost of $22.1 million and $17.9 million, respectively, on Friday.

"These purchases were made pursuant to a cryptocurrency investment plan previously approved by the board of directors, under which the Group may make a net purchase of up to US$100 million worth of cryptocurrencies, financed by its existing cash reserves other than any remaining proceeds from the Company’s initial public offering," Meitu said in the announcement.

⚖️ John McAfee Indicted for Crypto Pump and Dump Schemes

John McAfee has been indicted in the Southern District of New York on crypto-related charges, according to the U.S. Attorney's Office for the Southern District. 

The charges include conspiracy to commit securities fraud, wire fraud conspiracy and money laundering conspiracy for activity related to his cryptocurrency venture the "McAfee Team."

Jimmy Watson, the executive adviser of the McAfee Team, is also facing charges. Law enforcement arrested him last night in Texas. Meanwhile, McAfee is currently detained in Spain on separate tax evasion charges filed last year by U.S. prosecutors, for which extradition to the United States is being sought.

McAffee and Watson allegedly used Twitter to build interest in various digital assets through "false and misleading statements," resulting in gains of more than $13 million. The indictment accuses the two of engaging in pump and dump schemes, purchasing publicly traded coins and then endorsing them to drive up the price before selling for financial gain. Prosecutors also alleged the two promoted initial coin offerings (ICOs) on their accounts without adequately disclosing their investments or positions.

Project Updates

The State of 1559 - Update 008

After over 2 years since it was originally proposed, and one year since we’ve revived the effort, EIP-1559 has been accepted into an Ethereum network upgrade. London, which will come sometime this summer, will bring EIP-1559 to mainnet.

Mousse Announced

Mousse is an Ethereum 2.0 emulator for local testing of applications on Eth2 data sharding, especially Rollups.

MetaMask Custom Networks API Released

This new API allows developers to recommend a variety of chains to their users, including Layer 2 networks.

AWS Adds General Availability of Ethereum

With this launch, AWS customers can provision Ethereum nodes in minutes and connect to the public Ethereum main network and test networks such as Rinkeby and Ropsten.

Geth v1.10.1 Released

This release comes with snapshots, snap sync, pruning, database optimizations and more. This release also supports the upcoming Berlin hard fork.

Fei Protocol Genesis Group

The Fei Protocol Genesis event will begin on March 22nd at 12:01PM PT. The FEI and TRIBE tokens will be released at the end of Genesis on March 25, 2021, at 12:01 pm PT.

Polygon Improvement Proposals Announced

Polygon Improvement Proposals are design documents describing new features and proposals to the Polygon community.

Yearn Partners Announced

Yearn Partners aims to make Yearn vaults accessible from virtually anywhere. Any protocol that integrates Yearn vaults can earn up to a 50% profit share from their contributed TVL.

Yearn also relaunched the ETH vault and added improvements to the website.

Arbitrum Ditches Patent

Arbitrum is a community project, and abandoning the patent was a critical step for them in preparation for our upcoming mainnet launch.

Immutable X: Gods Unchained Rollout

This update details how the Gods Unchained game will be rolled out onto the Immutable X layer 2 system once it launches.

Hermez Public Testnet Now Live

The public testnet will support the final round of private testing ahead of the launch of the mainnet in the coming days.

zkSync Announces Fundraise

The round was led by Union Square Ventures with participation from Cloudflare, Coinbase, Dragonfly Capital and others.

BarnBridge SMART Yield Specs Unveiled

SMART Yield allows users to tranche out the yield from the debt pools of other projects, such as Aave, Compound, Cream, or Yearn Finance to normalize the risk curve by creating derivatives for risk mitigation.

Yield Guild Raises $1.325 Million

Yield Guild is a DAO that invests in NFT game assets in virtual worlds and lends them out to players to earn an income in the Metaverse. The raise was led by Delphi Digital with participation from Scalar Capital, BlockTower Capital and others.

Yam Finance Announces DAO House

DAO House is a treasury management solution built for DAOs using Set Protocol’s infrastructure.

mStable Governance Update

This update goes through Meta staking v1, an introduction to the DAOs and the mStable association, the ongoing distribution of Meta and more.

B.Protocol Compound Integration Now Live

If you have a Compound account or want to open one, you can now get rewarded for managing it via B.Protocol interface.

Rarible February Recap

February was a big month for Rarible with the team rolling out a bunch of development updates, announced a $1.75 funding round and exceeded $48 million in total sales volume on the platform.

Pods Finance Open Beta Launches

Users can buy, sell and provide liquidity to ETH and LINK European put options on Kovan. Users can also lock aDAI or USDC as collateral while selling options or providing stablecoin liquidity in the pools.

Kline Introduced

Kline is a new decentralized derivatives protocol that was announced last week that raised $7 million from a number of investors.

Boardroom Released

Boardroom is a portal for governance to view proposals, discussions, breakdowns, and more.

Ether.Cards Future Plans

In this post, the Ether.Cards team details how the platform is going to evolve in the future and what their plans are.

WETH10 Now Live

WETH10 is a new version of WETH that comes with a bunch of new features such as gasless transactions, zero-fee flash mints and more.

SIREN Markets Raises $4 Million

SIREN is a new options protocol and this round was co-led by 1kx and Spartan Group with participation from various other invstors.

DeversiFi Adds Fast Withdrawals

You can now move your tokens from DeversiFi’s layer 2 exchange back to Ethereum layer 1 in a much faster way.

Compound Chain Prototype Released

This prototype is called Gateway and is a cross-chain interest rate market that allows users to borrow assets native to one chain with collateral from another chain.

Six Announced

Six is a new creative agency that specializes in NFT’s.

Interesting Tweets

Ecosystem Bits

Blog Posts




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