| Brought to you by: | | | Pectra is coming. The upcoming Prague-Electra hard fork was at the center of Ethereum's All-Core Devs (ACD) call on Thursday,
with discussions focused on remaining sticking points ahead of planned testnets in February. | | | Keep an eye on Suilend: | | Dominating the DeFi scene over in Sui land is Suilend, the leading money market and liquid staking token (LST) projects built by the same team behind Solana's Save Finance (previously Solend). Suilend's lending market has about $628 million in TVL, while its SpringSui LST has catapulted to a $284 million TVL despite a relatively recent launch in November. Much like the top players in Solana land, Suilend is pursuing the strategy of an integrated "super app" ecosystem with its upcoming launch of the Steamm AMM in Q1 2025. | On a price to fee (90-day trailing annualized) basis, Suilend's native token, SEND, is presently trading at 14x, which is comparatively higher than the same ratios for KMNO (11) or AAVE (9). This suggests that markets are pricing in a higher growth potential for SEND with the Steamm AMM around the corner. | — Donovan Choy | | Brought to you by: | | SKALE, the gas-free invisible blockchain, is "Built Different" for mass adoption: high-throughput, scalable, and fair. As a network of interoperable EVM-compatible L1s, SKALE's user experience focus has accelerated a strong ecosystem across gaming, AI, and more. Due to SKALE's gas-free nature, blockchain can be integrated invisibly, creating accessible Web2-like experiences for users and developers. | SKALE has: | | Dive in to learn more. | | | Pectra progress and leadership talk | In the first ACD call of the year following the holiday break, Ethereum core developers were focused on tying up loose ends on the upcoming Pectra hard fork. | Devnet 5, which went live shortly before the call, may be the last network implemented before moving on to the testnet phase, tentatively scheduled to begin in early February. System contracts for Pectra underwent bytecode audits, with all changes already implemented. A follow-up presentation on audit findings will occur in two weeks. | A significant part of the discussion focused on refining the gas refund mechanisms. EIP-7623, which aims to clarify the handling of gas refunds, was successfully merged, resolving issues with the order of gas refund application. A fix addresses a lingering point for Pectra, ensuring that transaction gas costs align with expected outcomes. | Another key feature under scrutiny was EIP-7840, which pertains to base fee updates in Ethereum's future. Marek MoraczyÅ„ski from the Nethermind team provided context for a proposal aiming to streamline configuration and bring consistency to Ethereum, enhancing network efficiency. | As Ethereum looks to pick off any low-hanging fruit to help with scaling, other improvements are working their way toward developer consensus. One, related to BLS precompilation gas costs under EIP-2537, seeks to align gas constants with prior assumptions. Radek Zagórowicz from the Ipsilon team explained that "the easiest fix to the spec is...correcting the constant so it follows their previous assumptions." This adjustment ensures gas costs are consistent, aligning with Ethereum's larger goal of efficient scalability. | Gas limits on the Holesky testnet were discussed, with a proposal to keep them elevated, relative to mainnet, for testing purposes. For instance, the gas limit would increase to 60 million after the Pectra fork, and progressively rise with each fork thereafter. | Who should lead the EF? | Outside of the day-to-day development, the Ethereum community is also rallying behind Danny Ryan as a strong candidate to lead the Ethereum Foundation (EF). His technical expertise, demonstrated during Ethereum's transition to proof-of-stake, as well as his community-driven approach, have made him a well-regarded figure in the space. | Aya Miyaguchi has been at the helm of the EF, serving as its executive director since 2018, but there've been a slew of calls on X for new leadership, many of which are in support of Ryan. | Anton Cheng shared his story of how Ryan inspired him in 2019 by "[showing him] the path to Ethereum," as a strong proponent of open-source software. The prominent, though pseudonymous, DCinvestor similarly outlined Ryan's leadership qualities, noting his ability to lead through uncertainty and his deep technical understanding of Ethereum, two essential qualities as Ethereum navigates its scaling challenges. | Ryan, who left the EF in September, has been reportedly interested in the EF role. He sounded a diplomatic note on X in a bid to head off any incivility: | "Regardless of the future of Ethereum — whether with or without me in any capacity — I want to state publicly and very clearly that I have nothing but respect and praise for [Miyagotchi's] leadership and friendship," Ryan wrote. | — Macauley Peterson | | | A roundup of stablecoin farms | As of today, staking DAI/USDS will give you a 12.5% Sky Savings Rate (SSR), or you can get 8% for staking USDe on Ethena. These numbers are obviously far more attractive than the current 4.5% high of US Treasury yields, but rookie numbers in crypto. | For boosted yields, USDe farmers can turn to Berachain Pendle pools for a comparatively higher 27-28% fixed rate, but this yield strategy takes on more risks from a slew of lending (Dolomite, BeraBorrow) and DEX protocols (Kodiak) on an L1 chain that isn't yet live. | Maple Finance, an institutional-focused money market, is also offering attractive 30-day APYs of 14.5% on overcollateralized USDC loans, though these are permissioned KYC pools. | Over in Solana land, RateX, an up and coming Pendle-like yield trading protocol, is offering 22-27% fixed yields on USDe collateral along with RateX points that are still of considerable value given the protocol's relatively low $42 million TVL. | Finally, Tron's USDD 2.0 will also give you 20% — but questions about where the yield comes from have been strictly forbidden by Justin Sun. | — Donovan Choy | | | This June, Permissionless IV in Brooklyn is bringing together developers, creators, and problem-solvers driving the next wave of onchain development. It's a space to exchange ideas, tackle challenges, and collaborate on the tools and protocols shaping tomorrow. | June 24-26, 2025 | Brooklyn, NY | A transformation is happening now. Be part of it. | | | |  | hitesh.eth @hmalviya9 |  |
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Virtuals Ecosystem is going to blow up. @virtuals_io announced plans to buy back and burn more than 10K agent tokens using the post-bonding trading revenue they collected in $VIRTUAL. I went through the top 50 tokens based on revenue allocated for a 30-day TWAP buyback and… x.com/i/web/status/1… | |  | | | 11:30 AM • Jan 15, 2025 | | | | | | 1.02K Likes 124 Retweets | 80 Replies |
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|  | Jack Kubinec @whosknave | |
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New: @multicoincap has published a proposal that may reduce Solana's inflation. This Solana SIMD would replace the current fixed SOL emissions curve with a market-based mechanism — and SOL's inflation could decrease. Here's how this major update to SOL inflation would work (🧵) | | | 4:07 PM • Jan 16, 2025 | | | | | | 272 Likes 38 Retweets | 10 Replies |
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|  | _gabrielShapir0 @lex_node | |
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Just read Burwick Law's class-action complaint against pump. Interesting. Memecoins as a category have been assumed to not be covered by U.S. securities laws (this was part of their advantage as CEXs were quicker to list them) but it's clear they changed this cycle as… x.com/i/web/status/1… | | | 2:49 AM • Jan 17, 2025 | | | | | | 113 Likes 12 Retweets | 25 Replies |
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|  | Marc Arjoon 🟪 @marcarjoon | |
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Some observations from the 2024 L2 market 👇 @0xMantle became the #1 L2 by marketcap 📈 @movementlabsxyz is already the fourth-largest L2 👀 @0xPolygon faded despite the success of @Polymarket @worldcoin's market cap grew ~7x🤯 | |  | | | 1:24 PM • Jan 17, 2025 | | | | | | 3 Likes 0 Retweets | 0 Replies |
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