Ethereum Bulletin #9

Merge Community call, Vitalik on new idealistic movement, former opensea employee charged , IMX trading rewards, EL client, Grantee roundup may 2022

Ethereum Bulletin #9


Merge will happen next week Join the community call to know more

The Ropsten merge is set to happen on June 8 which is approaching soon so it is important for validators to test run both Execution and Consensus clients - and diversity matters for both (non-geth for EL, non-prysm for CL) . A Merge Community Call is happening tomorrow on June 3 at 14:00 UTC (10:00 ET)

Duration: 60 mins

Zoom Link

In this meeting various topics revolving around the upcoming merge on the Ropsten testnet will be discussed

Vitalik on "New Idealistic Movement"

Vitalik criticizes the "new idealistic movement" scene 10-15 years ago vs today saying that the major difference between these two is that " back then it felt possible to be on all the good-guy teams at the same time. Today, much more adversarial thinking and conflict."

Read the full thread below to know more

Former employee of NFT marketplace (OpenSea) charged for leaking inside information

NATHANIEL CHASTAIN, a former product manager at Ozone Networks, Inc. d/b/a OpenSea has been charged with wire fraud and money laundering in connection with a scheme to commit insider trading in Non-Fungible Tokens, or "NFTs," by using confidential information about what NFTs were going to be featured on OpenSea's homepage for his personal financial gain. CHASTAIN was arrested this morning in New York, New York and will be presented today in the United States District Court for the Southern District of New York.

Learn about the full case here.

Limited IMX trading rewards prototype launched by Immutable

In the past few days Immutable has grown commendably . It has launched various products and collaborated with projects like Rarible and StarkNet too ( read previous bulletins to know more ) They have launched the first prototype of their end-user reward system: for a limited period, trades on ANY supported marketplace can be eligible to get part of a $2M pool. These rewards will be based on a supply schedule - ⅓ upfront and ⅔ over 6 months.

GFX labs introduced Interest Protocols(IP)- next step in DeFi evolution

The Interest Protocol inherits strengths of MakerDAO , Aave and Compound Finance.IP provides over-collateralized loans to borrowers. These loans are denominated in USDi (IP's stablecoin). USDi can also be minted by depositing $USDC. USDi rebases to reflect accrued interest. All USDi earns interest, and all USDi can be redeemed for USDC.

An elaborate thread on the features of IP protocol has been released by GFX labs.

Superfluid collaborated with Coinshift

Superfluid is the leading asset streaming protocol that enables Web3 native subscriptions, salaries, and rewards for DAOs and crypto-native businesses.Coinshift's native integration with Superfluid will enable users to create & manage streams directly from Coinshift's dashboard.

Syncing the EL client will take a few days- The Merge

As the merge of Ropsten testnet is approaching Tim Beiko , one of the core devs at Ethereum reminded validators that they need to have a _fully sync'ed_ EL client to run through The Merge. He also said that - " Unlike syncing the beacon chain, syncing the EL can take a few days, so you want to plan in advance (now's a great time!).

You can sync before updating, too!"

The Hitchhiker's Guide - a short thread

A few days back Delphi Digital released The Hitchhiker's Guide to Ethereum which covered various topics related to the Ethereum Ecosystem including Danksharding,Rollups scale computation while leveraging Ethereum's security, MEV etc. Bienvenido Rodriguez , Senior Protocol Specialist at Coinbase tried to comprise that hour-long read into a 15 minute readable and easily digestible thread . If you want to know more about the guide you can read the thread below, it includes all the reference links too.

Grantee roundup May 2022- Ethereum Foundation

The Grantee Roundup is a series in which the EF tells about some recent milestones and achievements by grantees! In the recent edition they talked about

  • Nimbus for Fluffy Portal Client and Portal Network Development
  • Paul Miller for Ethereum-Cryptography Improvements

Read the full article here

May 2022 was a record month for ENS

ENS ( Ethereum Naming Service ) is a domain name service system for Ethereum . You might have seen "abc.eth" as names of various people , these are just a humanly understandable name of their wallet addresses (long alphanumeric combination of letters) which makes transfer of funds, NFTs , tokens really easy .

This month they have crossed some major milestones which are -

  • 365k new .eth registrations (total ~1.36m names)

  • $9.6m in protocol revenue (all goes to the DAO)

  • 3,900 ETH in fees (up 1,300 ETH from last month)

  • 57K new eth accounts w/ at least 1 ENS name (total 439K)

  • 10,500 ETH of OpenSea vol

Read more

Read more about Ethereum in previous Bulletins -Ethereum Bulletin

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