February 21, 2025 | Read Online

In a move to streamline cross-chain transactions within the Ethereum ecosystem, a bunch of prominent teams have unveiled the Open Intents Framework (OIF). This public good initiative aims to unify Ethereum's fragmented L2 networks through open, permissionless intents, enhancing interoperability and improving the user experience across chains.

The return of Euler:

Source: DefiLlama

The greatest comeback in DeFi may belong to Euler. The lending protocol suffered a $200 million hack in March 2023, relaunched v2 on Ethereum in September 2024, and is today seeing a surge of $453 million in TVL.

Euler's v2 deployment is radically reinventing DeFi lending with an ultra-modular design that puts Aave and even the more-modular Morpho to shame. With the Euler Vault Kit (EVK), anyone can create customized lending vaults, which then can be bilaterally chained together to recognize deposits. This modular design greatly benefits smaller-sized long-tail assets and opens up a host of yield-bearing, looping and shorting DeFi strategies that are all possible within Euler.

— Donovan Choy

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The rise of multichain intents

As Ethereum's ecosystem expands with over a hundred L2 networks — such as Arbitrum, Polygon, Optimism and ZKsync — navigating between these networks remains cumbersome. Each transfer is like booking a flight with multiple layovers and different airlines, requiring users to manage chains, navigate bridges and sometimes use multiple wallets.

Intents offer a solution by letting users specify the outcome they want while specialized solvers determine the best way to execute it efficiently. Instead of manually moving assets and interacting with different networks, users simply declare their intent, and solvers handle the rest.

The Open Intents Framework (OIF) is a new initiative designed to standardize and simplify cross-chain transactions within the Ethereum ecosystem. Developed by contributors from the Ethereum Foundation, Hyperlane and Bootnode, OIF provides a modular, permissionless system for intent-based execution. By allowing users to specify desired outcomes rather than manually executing transactions across multiple L2s, OIF aims to smoothen the rough edges of cross-chain interoperability.

Using standardized infrastructure, developers can integrate intent-based execution without needing to build proprietary solutions from scratch. This shared framework reduces friction and fosters collaboration across some 30 ecosystem teams.

Source: Ethereum Foundation

A key feature of OIF is its support for multiple settlement mechanisms that allow developers to choose execution methods that best suit their use cases. These include:

RRC-7755 from Base and Hashi Alliance: An oracle aggregator ensuring reliable data for cross-chain execution.
Espresso Systems' confirmation layer: A mechanism adding additional security and finality assurances.
Optimism's Superchain native interoperability: A framework enabling seamless interactions within the Optimism ecosystem.
Arbitrum's broadcast standard: A protocol optimizing intent execution on the Arbitrum network.

This diversity in settlement methods allows builders to experiment with different approaches while maintaining interoperability.

ERC-7683: Standardizing cross-chain intents

At the core of OIF is ERC-7683, a standard developed by Across and Uniswap Labs to create a unified structure for expressing and executing intents across Ethereum's expanding ecosystem.

Unlike EIPs, Ethereum requests for comments (ERCs) focus on application-layer standards, such as token specifications and execution frameworks. ERC-7683 functions as a shared language that ensures compatibility across solvers, users and applications to eliminate fragmentation.

OIF lowers barriers for all participants in Ethereum's multichain space:

Developers save months of development time by using ready-made infrastructure.
Networks can integrate intent-based execution without needing permission from central authorities.
Users benefit from near-instant cross-chain transactions, dramatically improving efficiency.
Solvers can service multiple protocols under a single framework, streamlining their operations.

With support from Ethereum's major L2s and infrastructure providers, the OIF represents a coordinated effort to unify Ethereum's multichain environment, reminiscent of the W3 Alliance. As adoption grows, it is expected to drive the next phase of interop, making intent-based execution a core component of the ecosystem.

— Macauley Peterson

0xResearch Analyst Roundtable:

Bitcoin's Institutional Bid, Solana's Memecoin Fallout and HyperEVM | 0xResearch podcast

What's the current market sentiment?

Marc Arjoon: ETH ETFs have had $400 million in net inflows in just February alone. Based on the latest SEC 13F filings, we see that bitcoin comprised the largest position in the portfolio of huge billion dollar hedge funds like Paul Tudor Jones'. That may explain a lot of the market dispersion as ETFs have fundamentally changed bitcoin's market dynamics. More institutions are coming onboard and steady inflows are eating up miner seller pressure.

Daniel Shapiro: We're in a completely new market now. Bitcoin's sell as "digital gold" is clearly working and there are buyers for that with the ETF. Market dispersion will continue while token fundamentals will [have] a greater importance. Bitcoin going up does not necessarily mean all alts will go up along with it, and reestablishing this new reality is going to be the best way to survive moving forward.

Who's winning the alt-L1 race?

Boccaccio: The players are: Hyperliquid, Monad, MegaETH, Berachain, Abstract and then Base L2. Then there's the old guard: Avalanche, Sonic and BNB. For the HyperEVM to be successful, it needs DeFi — that means money markets, bridging and liquid staking to borrow on your stake. That's really it. Monad and MegaETH is harder. They too will need to build those out along with NFTs, gaming, AMMs, perps DEXs and more. Solana already has built everything from the ground up and they don't have any competition aside for Base in the short term.

Sam MacPherson @hexonaut

Most large-scale financial products will exist on the blockchain and be managed by AI.

This is a good thing. Banking should be boring and solved.

The world's capital is better served for innovation and art - not as margin for bankers.

3:59 PM • Feb 19, 2025

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Liquity @LiquityProtocol

Liquity V2 Redeployment in Mid-March

A fix for Liquity V2 has been developed, and auditors will begin their review at the end of next week.

Once the audits are complete, Liquity V2's redeployment is planned for mid-March.

What does this mean for current Liquity V2 users? 👇… x.com/i/web/status/1…

2:24 PM • Feb 21, 2025

46 Likes 9 Retweets

3 Replies

Ben Zhou @benbybit

Bybit ETH multisig cold wallet just made a transfer to our warm wallet about 1 hr ago. It appears that this specific transaction was musked, all the signers saw the musked UI which showed the correct address and the URL was from @safe . However the signing message was to change… x.com/i/web/status/1…

3:44 PM • Feb 21, 2025

7.33K Likes 2.09K Retweets

2.31K Replies