Author | Qin Xiaofeng

Editor | Hao Fangzhou

Produced | Odaily

1. Overall overview

Author | Qin Xiaofeng

Editor | Hao Fangzhou

Ultrasound money data shows that the supply of Ethereum has increased by 7,090 since the merger. If there is no merger, it is estimated that the supply of ETH will increase by 385,180, and the new increase will drop by more than 98% compared with the POW era. In addition, the data shows that in the past week, the supply of ETH has deflated, with a net decrease of 5982 ETH.

In terms of the secondary market, the current ETH price may continue to consolidate in the short term, with a support level of $1,200 and a resistance level of $1,300.

Second, the secondary market

1. Spot market

In terms of the secondary market, the current ETH price may continue to consolidate in the short term, with a support level of $1,200 and a resistance level of $1,300.

(ETH daily chart, picture from OKX)

Second, the secondary market

1. Spot market

etherchain.orgAccording to OKX market data, the price of ETH once fell below $1,200 last week and closed at $1,286 during the week, a month-on-month drop of 3%.

(ETH daily chart, picture from OKX)

OKlink dataThe data shows that in the past week, the number of blocks produced on the Ethereum network was 50,136, which was basically the same as last week; the number of active addresses per week was 3,416,885, a decrease of 0.8% from the previous week; The weekly ETH burning volume reached 15,415, a month-on-month increase of 35%, mainly due to XEN mint.

4. Rich list address

OKlink dataIt shows that the number of transfers on the chain rose slightly last week, and the "above 1000 ETH", "above 2000 ETH" and "above 5000 ETH" increased by 9, 6%, 21.1% and 10.1% month-on-month respectively. The trading enthusiasm of giant whales has increased significantly.

3. Ecology and technology

1. Technological progress

4. Rich list address

OKlink data

3. Ecology and technology

2. Voice of the Community

1. Technological progress

The Ethereum Core Developers Meeting will be held on October 27th, and plans for the Shanghai upgrade will be discussed

Ethereum core developer Tim Beiko released the latest update on the Ethereum core developer conference, about the upgrade in Shanghai, the consensus layer, which is expected to include ETH withdrawals from the beacon chain, and potential EIP-4844, in terms of the execution layer, Shanghai There are already several EIPs under consideration for the upgrade. The next Ethereum Core Developers Conference (AllCoreDevs) will be held on October 27th, with the theme of planning for the Shanghai upgrade.
2. Voice of the Community

3. Project trends

Flashbots Announces SUAVE Upgrade to Address Censorship Issues

Flashbots has announced an upgrade aimed at addressing censorship resistance and concerns about decentralization. Flashbots product lead Robert Miller discussed how to address these issues earlier this month, saying he was working on a decentralized solution.

Hasu, director of strategy at Flashbots, announced that the protocol is called "SUAVE." SUAVE aims to gradually decentralize the block building process by open-sourcing its code and development, allowing anyone to contribute. It will have cross-chain and multi-chain support and work with any Ethereum-compatible blockchain or Rollup. According to the development team, more details about SUAVE will be released in the coming weeks.

According to previous reports, Hasu tweeted in August this year that Flashbots would cooperate with the enforcement actions of the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) to blacklist addresses related to Tornado Cash; Flashbots co-founder Stephane Gosselin hoped The validator disagreed with the team in favor of uncensored relays and resigned last month. (The Block)

3. Project trends

(1) Offchain Labs has acquired the development team of Prysm, the largest Ethereum client

Arbitrum developer Offchain Labs announced Wednesday that it has completed the acquisition of Prysmatic Labs. Prysmatic Labs is one of the core software development teams responsible for the maintenance, upgrade and innovation of the Ethereum network. It is also the development team of the Ethereum client Prysm. Prysm is currently the largest Ethereum client with 41.5% of the verification nodes. Verifying transactions with Prysm. (Decrypt)

(2) The Graph released the 2023 roadmap, including migrating the protocol to Arbitrum

The decentralized index protocol The Graph has released its roadmap for 2023. Major updates in 2023 will include canceling custody services, launching Firehose and Substreams, and migrating to Ethereum's second-layer solution, Arbitrum. Among them, the cancellation of hosting services means the decentralization of the network and the need to pay for services; Firehose aims to save the data on the chain locally and does not need to rely on slave nodes to obtain data; Substreams aims to improve the indexing speed through the parallel indexing model, and Will be used concurrently with Firehose.

(3) Matter Labs will launch the Layer 3 testnet Pathfinder in Q1 next year

Matter Labs, a zkSync development company, will launch a public testnet for Pathfinder, an Ethereum extension prototype, in Q1 2023. This may be the first Layer 3 network based on Ethereum, which can significantly improve scalability. Once launched, Pathfinder will be open to the public for testing, research and participation in the development of this extended solution. According to Steve Newcomb, chief product officer at zkSync, a key advantage of Layer 3 networks is that they support native bridging between blockchains. (The Block)

(4) Polygon launched the Polygon zkEVM public test network

According to the official announcement, Polygon announced that the Polygon zkEVM public testnet has been launched. This is the first zkEVM to enter the public testnet using the open source ZK proof system. The new technology will deploy the Ethereum Virtual Machine (EVM) for its ZK rollup, which means developers don’t have to use a new programming language and can smoothly transfer their smart contracts from Ethereum. AAVE, Uniswap, and Web3 social platform Lens will be among the first protocols to use the zkEVM testnet.

However, Polygon stated that the testnet version has not yet met its expectations, and it only belongs to the "Type 3" protocol category within the V God framework. Although it is almost equivalent to EVM, in order to further shorten the validator time and make EVM easier to development, with some sacrifices in terms of exact equivalence. The Polygon zkEVM aims to be "Type 2," which means that the Polygon zkEVM will eventually "look exactly like Ethereum" from the inside. The testnet will help it accelerate towards "Type 2" compatibility. The testnet version of the Polygon zkEVM also has limited throughput, meaning it is far from final as an optimized scaling machine, and it has a long way to go.

(5) The OP token inflation rate was mistakenly set to 20%, and will be changed back to the original 2%

According to the official Twitter, Optimism, the second-layer solution of Ethereum, stated that the total supply of its OP tokens was announced to be inflated at a rate of 2% per year when it was launched, but when the contract was deployed, the rate was wrongly set to 20%. At some point the contract logic will be updated to the expected 2%. However, Optimism says that since OP’s inflation won’t start until next year, no new tokens will be minted or moved, and any future changes to that value will have to go through governance.

(6) Optimism cross-chain bridge Warp Speed ​​will be removed from Optimism Gateway

Warp Speed, an experimental cross-chain bridge for Ethereum’s layer-two solution Optimism, will be removed from Optimism Gateway and will be completely deactivated on November 14. Users do not need to take any action, funds previously deposited via Warp Speed ​​remain safe, the Warp Speed ​​contract will be permanently locked shortly after deactivation, and any new funds sent to the Warp Speed ​​bridge contract will be irretrievable.

(7) The Ethereum cross-chain bridge Across Protocol has opened an airdrop query page

The Ethereum cross-chain bridge Across Protocol has opened an airdrop query page. Participants of the Bridge Traveler program (users who used Across for the first time before September 1), community members, early bridge users, and liquidity providers can query airdrop qualifications on this page.

At launch, a total of 100,000 ACX will be minted, and 12,500 ACX will be distributed to users who have contributed to Across through airdrops. The airdrop snapshot for community members was completed on September 1st, and the airdrop snapshot for early bridge users was completed on July 18th. Liquidity providers are eligible to claim airdrops by pooling ETH, USDC, WBTC or DAI into the Across protocol before the tokens are released.

According to the official announcement, ConsenSys, an Ethereum infrastructure development company, released a new EVM equivalent zk-EVM specification. Opcodes, delivery of Type 2 zk-EVM defined by Vitalik, enabling developers to deploy any smart contract, use any tool, and develop exactly as they build applications on L1, the current test version is open.

4. Borrowing

DeFiLlama The Ethereum Layer 3 network zkSync tweeted that due to the naming conflict with the product developed by StarkWare, it will rename the Ethereum Layer 3 test network "Pathfinder" to "Opportunity". Matter Labs will launch the Layer 3 testnet "Pathfinder" in the first quarter of 2023. According to reports, this is the first Layer 3 network launched on top of Ethereum, which can significantly improve scalability.

4. News

(10) Aave will deploy the GHO testnet in the next few weeks

Aave released the development progress of the decentralized over-collateralized stablecoin GHO. Aave stated that it plans to replace the V2 market with the V3 market as the main impetus for GHO after the new Aave V3 market is deployed on Ethereum, and the GHO code previously deployed in Aave V2 has been audited by Open Zeppelin. In addition, Aave will allow "Facilitator" to mint and destroy GHO without trust, and will release a guiding framework on how to apply for this permission in the future. Aave also stated that the deployment of GHO’s first testnet will be completed in the next few weeks.

4. Borrowing

The data shows that the value of locked collateral on the chain fell from $31.55 billion to $30.88 billion last week, a 2% drop in a week. Specifically, the amount of ETH collateral dropped from 23.86 million to 23.63 million last week, a drop of 1%. From the perspective of a single project, the top three locked positions are: MakerDAO $7.75 billion; Lido $5.81 billion; Curve $5.42 billion.

4. News

(1) The European Commission's public bidding for research on embedded supervision of Ethereum DeFi

Patrick Hansen, Circle EU Strategy and Policy Director, said that the European Commission has publicly called for bids for research on embedded supervision of Ethereum DeFi, aiming to study automatic monitoring technology for real-time DeFi activities, with a bidding amount of 250,000 euros.

(2) Google has supported the search to display the balance of the Ethereum wallet