EthHub Weekly #195
ZKOPRU live on testnet, Perpetual Protocol v2 launched, Lemma on mainnet, Euler live on testnet and much more!
🎂 Happy Birthday to the Beacon Chain
This week was the Ethereum Beacon Chain’s first birthday (on December 1st) and what a first year it has been. There’s been over 8 million ETH staked, over 250,000 validators spun up, the Altair network upgrade went live and work on The Merge is progressing swimmingly. If you want a deeper recap on the Beacon Chain’s first year, you can read my piece here.
Have a great week everyone!
News of the Week
Securities and Exchange Commission chairman Gary Gensler is keeping mum on new guidance for crypto tokens.
After a hearing before the Senate Banking Committee in September, the committee's leading Republican, Sen. Pat Toomey, wrote Gensler a series of follow-up questions on cryptocurrencies.
In responses released on December 3, Gensler stuck to the broad interpretation of existing laws and the Howey and Reeves tests that he has promulgated since taking office. Effectively, Gensler argues that the SEC does not need to specify which crypto assets are and are not securities, as those laws and court cases established broad parameters — an attitude that has ruffled many in the crypto industry.
Following up on questions from the hearing, Toomey asked Gensler to "identify the specific characteristics that distinguish a cryptocurrency that is a security from one that has been deemed a commodity."
Crypto exchange BitMart said late Saturday that it has suffered a hack, resulting in the loss of $150 million worth of crypto.
Security researchers PeckShield originally estimated that the exchange had been hacked for $100 million.
Founder and CEO Sheldon Xia later confirmed the incident, writing on Twitter: "We have identified a large-scale security breach related to one of our ETH hot wallets and one of our BSC hot wallets. At this moment we are still concluding the possible methods used. The hackers were able to withdraw assets of the value of approximately USD 150 millions."
Xia went on to write that the exchange is "conducting a thorough security review" and that all withdrawals are suspended until "further notice."
Arrow Glacier is coming (update your nodes!), updates on the Kintsugi Merge effort and coverage of EIP-4488.
Updates on the Beacon Chain, The Merge, Staking, MEV and more in the latest edition of Ben’s newsletter.
ZKOPRU is now live on the Gorli testnet and users can deposit assets in to make private transfers.
Lots of updates from the Sigma Prime team including post-merge consensus sync research, post-merge MEV and more.
Flashbots is putting together an Eth2 working group to tackle MEV in a post-merge world.
Lemma is the first basis trading vault and stablecoin backed by decentralized derivatives to launch on mainnet.
Perpetual Protocol v2 (codenamed Curie) has been launched on the Optimistic Ethereum mainnet.
Users can participate in the testnet by claiming Ropsten ETH and Ropsten testnet tokens. Once the wallet has some ETH and tokens in it, head on over to the testnet platform at https://ropsten.euler.finance.
Hifi is a fixed-rate, fixed-term borrowing platform that is now live on the Polygon PoS chain.
The Yield Token Compounding (YTC) tool is built on top of Element Finance and allows users to interact with the protocol recursively.
Lyra is rewarding early community contributors, traders and LPs with a retroactive token distribution.
Single sided staking for wBTC, wETH, LINK call and and DAI put pools are now available on Premia on Arbitrum.
The $175 million Series B round was led by Amber Group with participation from a bunch of other investors.
Cultured Beginnings - The Daily Gwei
And Then They FUD You - The Daily Gwei
How The Merge Impacts Ethereum’s Application Layer - Tim Beiko via EF Blog
Redefining Scalability - SwagtimusPrime and Louis Guthman via StarkWare
Unifying Cross-Chain Liquidity with Connext - Nichanan Kesonpat via 1kx
Ultimate Crypto Tax Guide - Dan Hannum via Bankless
Is Proof of Stake a Rich get Richer Scheme? - ChainLeft via Bankless
On the Formalization of MEV - Alejo Salles via Flashbots
Historical Ethereum Data Access After EIP-4444 - The Graph Foundation
Crypto Advocacy Panel - Bankless
Sorare: Marrying Fantasy Sports and NFTs - Epicenter
Meme of the Week
Looking for Work?
Top jobs listed on Cryptocurrency Jobs this week:
DevOps Engineer - Ethereum Foundation
Backend Golang Engineer - WalletConnect
Content Marketing Specialist - Perpetual Protocol
Back-End / Relay Node Engineer - Gelato Network
+1000’s more on the Cryptocurrency Jobs website!