ETH Weekly | Uniswap V3 will be launched on May 5; the number of Ethereum ERC-721 smart contracts reached a record high (3.22-3.28)

Author | Qin Xiaofeng

Produced | Odaily

Produced | Odaily

1. Overall overview

1. Overall overview

Second, the secondary market

Second, the secondary market

1. Spot market

(ETH daily chart, picture from OKEx)

(ETH daily chart, picture from OKEx)

The ETH daily chart shows that the price fell below the 60-day moving average for a short time and then regained its footing. Daily moving averages are unlikely; resistance is at $1760.

The ETH daily chart shows that the price fell below the 60-day moving average for a short time and then regained its footing. Daily moving averages are unlikely; resistance is at $1760.                                                                

2. Fund flow

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 13.7% and 1.22% month-on-month respectively; but the number of "above 50,000 ETH" transfers decreased by 33% month-on-month , the frequency of giant whale account transactions has dropped significantly.

OKlink data3. Ecology and technology

3. Ecology and technology

1. Technological progress

1. Technological progress

(1) The Ethereum 2.0 client Lighthouse generated its first Eth1 and Eth2 merger transaction

On March 25, Sigma Prime, the Lighthouse development team of the Ethereum 2.0 client, stated that Lighthouse generated the client’s first Eth1 and Eth2 merger transaction, and this ETH transaction only used PoS verification nodes, and Ethereum is moving towards energy consumption. 99.98% down in one step. That doesn't mean we're ready for production, Sigma Prime added. This is a prototype and there are still many questions to be answered and work to be done. But it’s a sign that Eth1 and Eth2 developers are actively working together on the merger.

On March 24, Ethereum core developer Péter Szilágyi tweeted that the test network Rinkeby will open the Berlin hard fork on March 24. Any node that has not been updated will stop synchronizing, because all signers have been updated. So all nodes that haven't been updated will turn red on the stats page, and since 2/3 haven't been upgraded, most of the stats page will turn red, one last call to update your node before it stops syncing. As previously reported, the testnet Rinkeby will be opened on March 24 (block height 8,290,928).

2. Voice of the Community

2. Voice of the Community

(1) V God: The most important scarce resource is legality

On March 24, V God published an article "The most important scarce resource is legality". Legitimacy is a powerful social technology, the article says, and we should use it. One of the main strengths of cryptocurrencies is that they allow communities to raise large amounts of money without any individual personally donating funds. However, this capital is limited by the concept of legality: you cannot distribute cryptocurrency funds to a centralized team without compromising their value. While Bitcoin and Ethereum already rely on the concept of legality to deal with 51% attacks, it is much more difficult to use the concept of legality to guide the financing of public goods within the protocol. But at an increasingly rich application layer where new protocols are constantly being created, we (Ethereum) have considerable flexibility in where funds flow. The Ethereum ecosystem focuses on mechanism design and innovation at the social level, and its own public product financing challenge is a good starting point.

Independent researcher Samuel Shadrach proposed a solution to the maximum extractable value (MEV) for the second-layer expansion technology Rollp in the Ethereum Research Forum. He believes that this solution can solve the MEV problem of ZK Rollup and Optimistic Rollup at the same time. In the scheme he envisioned, the operation node of Layer 2 needs to sign an off-chain message for the transaction, promising to package the transaction in a certain block and the corresponding order. If the operation node fails to fulfill this commitment, the user can Submit the message off the chain to punish the operating node.

3. Project trends

3. Project trends

(1) Connext, the second-layer network of Ethereum, completed a financing of US$2.2 million, led by Polychain Capital

Ethereum’s second-tier network Connext has completed a $2.2 million seed round of financing, led by Polychain Capital, with participation from 1kx and Huobi Capital. Founder Arjun Bhuptani said that with the new funds coming in, Connext hopes to expand the network’s early liquidity and team to launch the entire network. (The Block)

(2) The arbitrage robot was harvested 130 ETH, worth about 250,000 US dollars

In response to the recent frequent Ethereum sandwich trading (sandwich trading), LocalCoin Swap Chief Technology Officer Nathan Worsley released two viruses named "Salmonella" and "Listeria" on the Ethereum blockchain. Token contract, harvesting arbitrage robot, in this way, it realized a profit of 130 ETH in just a few hours, estimated to be worth 250,000 US dollars. It is reported that in sandwich arbitrage trading, the transaction has both front-run and back-run transactions (bread here), which will lead to a decline in the price of intermediate transactions (meat or cheese). (CoinDesk)

(2) Mars, a decentralized standard computing power protocol, launched the Ethereum computing power token pETH18C

Mars, a decentralized standard computing power protocol, launched the Ethereum computing power token pETH18C, with an initial circulation of 1 million pieces. Each pETH18C can achieve 1MH/s Ethereum computing power. The income will be distributed on the chain in real time. Invest pETH18C into the agreement to get ETH and MARS rewards. Provide liquidity for the pETH18C/USDT trading pair on Uniswap, and you can also get ETH and MARS rewards.

According to previous reports, the Poolin mining pool released Mars, a one-stop decentralized standard computing power protocol that combines standardized computing power products and liquidity mining.

(3) The Hermez Network mainnet, the Ethereum ZK Rollup expansion solution, is officially launched

On March 24, Hermez Network, the Ethereum ZK Rollup expansion solution, was officially launched. This means that Hermez's main network has been launched, and users can now transfer money at a lower Gas cost. According to Jordi Baylina, technical director of Hermez, users can save about 90% of Gas costs. The current average gas fee per transaction is about $16, and if you can save 90% of the gas fee, the cost per transaction will drop to $1.5. (The Block)

According to official news, Optimism, the second-layer expansion plan of Ethereum, will delay the launch of the mainnet, which is expected to be launched in July this year, to ensure that the entire community can coordinate the launch, so that basic projects, infrastructure providers, block producers, wallets, tokens Bridges etc. have time to integrate, audit and test.

4. Borrowing

Defipulse4. Borrowing

5. Mining

5. Mining

image description

etherchain.orgThe data shows that the average computing power increased by 3% month-on-month, temporarily reported at 477.7TH/s; the average mining difficulty increased by 2.5% month-on-month, reaching 6041 T; the activity on the chain increased by 0.5% month-on-month; network congestion decreased slightly, and the total mining revenue A quarter-on-quarter decrease of 4%.

4. News

4. News

(1) The Ethereum Foundation plans to donate at least $11 million this year

The Ethereum Foundation plans to donate at least $4 million to the application layer client (ETH1) in 2021. The first grant has been distributed to Besu, Geth (Go Ethereum), Nethermind, Open Ethereum and Turbo Geth; Layer clients (ETH2) donate at least $7 million, including Lighthouse, Teku, Prysm, Nimbus, and Lodestar. In 2020, the Ethereum Foundation donated approximately $4.5 million to consensus layer clients.

The Ethereum Foundation divides Ethereum clients into two categories, application layer clients (ETH1) and consensus layer clients.

(2) Report: The number of Ethereum ERC-721 smart contracts reached a record high

Due to the recent NFT craze, the number of ERC-721 smart contracts reached an all-time high of around 19,000, according to a report from CoinMetrics on Tuesday. The researchers noted that the NFT market still has a lot of room to grow. (Decrypt)

(3) Uniswap V3 official announcement video NFT works sold at 310 ETH

On March 27, the Uniswap V3 official announcement video work was sold for 310 ETH, worth $520,000. The purchaser is the Decentralized Autonomous Organization (DAO) "PleasrDAO". The DAO was proposed by PoolTogether co-founder Leighton Cusack and was set up specifically for the purchase of NFTs. Nansen CEO Alex Svanevik said the organization was originally formed to buy Uniswap V3 NFTs and is now considering buying more artwork. Its members include Calvin Liu (Compound), Tarun Chitra (Gauntlet Network), Andrew Kang (Mechanism Capital) and more than 30 Ethereum community members.

According to previous reports, Uniswap founder Hayden Adams tweeted that the animated work produced by the artist @ppplleasr1 and intercepted the Uniswap V3 official announcement video clip is being auctioned by the Digital Collection Issuance and Trading Foundation. All proceeds will be donated to charities such as AAPI.