ETH Weekly | Ethereum Berlin hard fork may be carried out in January next year; DeFi high yield will threaten the launch of Eth2.0 (10.26-11.1)

秦晓峰

Odaily资深作者

@QinXiaofeng888

2020-11-02 08:36 (UTC+8)

This article is about 5099 words, reading the full article takes about 8 minutes

Nearly 24% of all Ethereum is held by exchanges.

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Nearly 24% of all Ethereum is held by exchanges.

Author | Qin Xiaofeng

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1. Overall overview

Second, the secondary market

1. Spot market

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(ETH daily chart, picture from OKEx)

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2. Fund flow

(data from BiNuNiu)

(data from Tokenview)

3. Large transaction

(data from Tokenview)

Tokenview dataIt shows that the number of transfers on the chain rose slightly last week, and the number of large-value transfers of "above 5,000 ETH" and "above 10,000 ETH" increased by 11.19% and 14.07% month-on-month, but the number of large-amount transfers of "above 50,000 ETH" decreased by 6.25% month-on-month %, the frequency of giant whale account transactions has decreased; combined with the price trend, the short-term rise is weak.

OKlink data3. Ecology and technology

3. Ecology and technology

1. Technological progress

1. Technological progress

(1) Quantstamp completed the audit of the Teku client and said that Ethereum 2.0 is ready for release

On October 26, smart contract audit firm Quantstamp said that Ethereum 2.0 is almost ready for release. Prior to this, Quantstamp said it had completed an audit of Teku, an Ethereum 2.0 client developed by Consensus. Quantstamp CEO Richard Ma said in a statement that Ethereum 2.0 will deliver Phase 0 in the near future. (Decrypt)

(2) Ethereum 2.0 client Prysm released the first beta version

On October 30, the Ethereum 2.0 client Prysm released the first beta version. New features include discovering nodes before broadcasting proofs, which can improve the quality of "lost" proofs by 80% to 100%; save intermittent undetermined Permanent state to improve data access under long-term state uncertainty. Restore the user interface of the Prys web version, and use the command line command "--web" to run.

According to a core developer conference call held last Friday, the Ethereum "Berlin" (Berlin) hard fork upgrade will take at most a few months, and a soft goal has been set for January next year, following the planned launch in December After the Ethereum 2.0 beacon chain. The system-wide upgrade was originally scheduled to take place in July, but was delayed this summer due to limited client staff energy and higher demand for client diversity. (CoinDesk)

2. Voice of the Community

2. Voice of the Community

(1) V God: Ethereum has gradually become a real ecosystem, and solutions can be proposed to solve problems that arise

On October 27, the 6th Blockchain Global Summit opened in Shanghai. At the summit, Vitalik Buterin, the founder of Ethereum, said in a speech that Ethereum has gradually become a real ecosystem and a self-sustaining ecosystem. Every time a problem arises a solution can be proposed to solve it.

If you want payment scalability, there are now Loopring, ZKsync, OMG website; if you want stable value, there are DAI, USDC, etc. If you want to have an extended smart contract, there are Optimism and Arbitrum; if you want a user name that someone can read, such as sending Ethereum to others, but you don’t want to use the addressing method, you can use ENS (Ethereum domain name) system); if you want privacy, there are Tornado.cash, AZTEC, zkopru; if you want to exchange and exchange assets, there are Uniswap and other decentralized exchanges, etc.

The ecosystem contains different parts, and the different parts of the ecosystem support and benefit each other. The privacy layer provides application privacy, the funding layer provides other funding, and the payment extension layer ensures payment, thus forming the ecology of Ethereum. The most valuable part of Ethereum comes from different components, they can cooperate with each other, which is the benefit of the infrastructure.

On October 28, Balancer co-founder and CTO Mike McDonald tweeted his views on Balancer and expansion solutions. He stated that it is important to be clear that we are 100% focused on Ethereum. Although Balancer has provided small grants to some third parties to help them implement the Balancer protocol on other L1 networks, this is for research purposes only and all internal efforts remain on Ethereum. At the same time, he also said that Zk Rollups is the most promising expansion solution, and it is also the only expansion path that Balancer is currently exploring internally. Having said that, moving from an L2 demo application to a co-existing L2 with a meaningful locked state of funds will still require significant time and ongoing development.

3. Project trends

3. Project trends

(1) Dharma launched the Uniswap governance proposal community vote again

Due to the use of other tools to interact with the Uniswap contract, 12,619 Ethereum addresses did not receive the 400 UNI airdrop. On October 26, the Uniswap community launched a second community vote to decide whether to give these addresses a total of 5,047,600 UNI token airdrops (total value of about 14 million US dollars).

As the initiator of this and the first community vote, Dharma stated that it will no longer initiate airdrop-related proposals. If the proposal is passed, Dharma will promise to allow Dharma users to entrust the platform or directly use their UNI to vote. Collaborate with other community members to participate in improving the Uniswap Improvement Proposal (UIP).

On October 31, the Uniswap Community Governance Proposal No. 2 initiated by Dharma was not passed. The final vote was 37,555,068 in favor and 1,280,632 against.

According to previous reports, Dharma launched Uniswap's first governance proposal, suggesting to lower the threshold for initiating voting and the minimum number of votes required for voting. On the morning of October 20th, Beijing time, the first Uniswap governance proposal failed because the required quorum (votes) was not reached.

(2) Harvest Finance suffered a flash loan attack and lost more than 30 million US dollars

On October 26, a Twitter user broke the news that the attacker relied on the cost (handling fee) of 20 ETH to arbitrage in the Curve protocol y pool to obtain impermanent losses through flash loans, and the Curve.fi Y pool is the DeFi aggregation protocol Harvest treasury investment The place. The attacker then converted the funds into renBTC and cashed out, and Harvest lost millions of dollars as a result. Many participants claimed to have lost more than 15% to 20% of their funds.

Affected by this, the price of FARM, the governance token of Harvest Finance, plummeted from $237 to $78 at one point, with a maximum drop of nearly 70%; the lock-up volume of the Harvest protocol also plummeted from $1.11 billion to $450 million, with a maximum drop of 60% .

On the morning of the 27th, Harvest Finance issued a statement in response to yesterday's flash loan attack.

According to the announcement, the attack lost a total of 33.8 million US dollars (previously reported as 4 million US dollars), accounting for about 3.2% of the total value locked in the agreement before the attack; Distributed to affected depositors; in the future, Harvest Finance will implement a "commit-disclosure" mechanism for deposits, reduce flash loan attacks, use oracle machines to determine asset prices, and increase deposit arb configuration (the current threshold is set to 3%).

(3) The Ethereum mutual insurance project Nexus Mutual has newly added support for the new AMM protocol CoFiX

The Ethereum mutual insurance project Nexus Mutual (NXM) has added support for the new automated market-making protocol CoFiX. Currently, Nexus Mutual users can stake in CoFiX to purchase insurance policies.

(4) Nansen completes USD 1.2 million in seed round financing

Launched in April this year, Nansen is a subscription-based product currently focused on ethereum data. Svanevik said the company hopes to add support for the bitcoin blockchain and other ethereum Layer-2 networks within the next year. (The Block)

4. Borrowing

Defipulseimage description

(Lock value on the DeFi chain)

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5. Mining

(data from etherchain.org)

etherchain.orgThe data shows that the average computing power decreased by 0.26% month-on-month, temporarily reporting 268.9 TH/s; the average mining difficulty decreased by 0.28%, temporarily reporting 3388 T; among them, on October 30, the mining difficulty once reached 3536.5 T, breaking the record of October 2019. The record of 3523.5T was created on the 6th, creating a new high in two years; Gas fees continued to decline, and the total mining revenue decreased by 1.17% month-on-month; new addresses decreased by 3.74% month-on-month, and the activity on the chain decreased.