ETH Weekly | 30 Ethereum projects cooperate to launch MEV Blocker RPC; Swiss InCore Bank provides ETH pledge service (4.3-4.9)

1. Overall overview

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InCore Bank, a financial bank based in Zurich, Switzerland, announced that it will provide Ethereum staking services to customers. The bank stated that customers using its Ethereum staking services must fully comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. Require. InCore Bank CEO Mark Dambacher said that the bank will provide customers with Ethereum staking services through segregated wallets and comply with regulatory and tax regulations.

Second, the secondary market

1. Spot market

1. Spot market

ETH daily chart via OKX

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2. Network operation

etherchain.org2. Network operation

3. Large transaction

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4. Rich list address

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3. Ecology and technology

1. Technological progress

It shows that the total amount of pledged ETH in the entire network is currently 18,019,110 ETH, and the pledge rate is 14.96%, an increase of 50,750 in the past week; from the perspective of the distribution of holding addresses, exchanges accounted for 10.09%, a month-on-month increase of 0.17%; DeFi projects accounted for Compared with 21.35%, it rose 0.01% month-on-month; large addresses (top 1000 addresses and excluding exchanges and DeFi projects) accounted for 33.68%, down 0.16% month-on-month; other addresses accounted for 34.88%, down 0.02% month-on-month.

1. Technological progress

2. Voice of the Community

More than 30 projects including Safe and BitKeep jointly launched MEV Blocker RPC to protect users from MEV attacks

Safe, BitKeep, DODO, Oasis, Balancer, 1inch and more than 30 Ethereum projects have cooperated to launch MEV Blocker RPC, a tool designed to protect users from various types of MEV attacks. MEV Blocker protects users from front-running and sandwich attacks on Ethereum transactions. With MEV Blocker, users enjoy a fast, free and censorship-resistant RPC to process transactions. Get instant protection by adding this RPC endpoint to your wallet.

2. Voice of the Community
Marc Zeller, head of strategy at Aave, published an article discussing the four stages of decentralization, namely Autocracy, Oligarchy, Liquid Representative Democracies, and Stateless Stage.

3. Project trends

Specifically, the development team in Dictatorship has almost complete control over the project, and the Dictatorship phase allows the team to develop and iterate rapidly, enabling it to build a minimum viable product and work towards product-market fit. The Oligopoly Governance Phase is typically after a funding round, where token holders start to gain more power over governance, and early investor influence can be challenging. The Liquid Representative Democracy phase can only be achieved when the token supply is distributed enough to dilute the influence of the Phase 2 oligopoly.

Marc Zeller believes that no project has yet reached the mature DAO stage, and MakerDAO and Aave are on the verge of transitioning from stage 2 to stage 3. The stateless phase is similar to a stateless society, and currently, LUSD, Ethereum, and Bitcoin are the only significant players in Phase 4 that Marc Zeller believes.

3. Project trends

(1) StarkNet: At present, those who claim to provide token release or airdrop are all fake accounts

StarkNet, the Ethereum Layer 2 network, issued a security alert stating that there are currently a large number of false private messages on Discord, Twitter, and Telegram, claiming that StarkNet is providing token releases or airdrops. StarkNet says the accounts currently claiming these activities are all fake.

(2) Lido predicts the withdrawal speed after the Shanghai upgrade: requests for less than 1000 ETH can be completed within 1 day

Lido, a liquidity staking protocol, published a document predicting the withdrawal speed of Ethereum after the upgrade in Shanghai. According to Lido, if there is enough ETH in the protocol buffer to provide services, withdrawal requests of less than 1000 ETH can be completed within 1 day (standard Ethereum withdrawal takes 2-6 days), and withdrawal requests in the range of 1000 to 5000 ETH Withdrawal requests may take 2 days to complete, withdrawal requests over 5,000 ETH are expected to take 4-10 days, and withdrawal requests over 100,000 ETH are expected to take two weeks to complete.

In addition, Lido's official website no longer provides Polkadot and Kusama pledge information display, and currently only provides Ethereum (ETH), Polygon and Solana pledge information. According to the data, as of now, Lido’s total Ethereum pledge has exceeded 11 billion US dollars (5,928,918 ETH), a record high.

(3) OpenSea releases functional updates such as wallets to further simplify ETH encapsulation/uncapsulation

NFT marketplace OpenSea has announced a series of updates aimed at improving the platform user experience. These include wallet upgrades to further simplify ETH encapsulation/uncapsulation, support for real-time balance refresh, update of collection order mode, new NFT quotation depth option, and new NFT feature filter for quotation options. After the new function is upgraded, the service will be simpler, and the network navigation after the in-app blockchain switch will be easier. At the same time, users can accurately understand their transaction amount and view the latest floor price and maximum bid in real time.

(4) Coinbase Ventures has joined Rocket Pool's joint governance DAO ODAO

Coinbase Ventures has joined Oracle DAO (ODAO), the co-governance DAO of Ethereum staking protocol Rocket Pool, and will receive a 15% share of the total RPL inflation generated during the Oracle DAO reward period dedicated to Rocket Pool. It is reported that RPL is the native token of the Rocket Pool ecosystem, providing direct incentives, insurance and governance for the protocol. (CoinDesk)

(5) LSD protocol unshETH launches v2 version on Ethereum and BNB Chain

The LSD protocol unshETH has recently launched the v2 version on Ethereum and BNB Chain. The new version includes setting up a risk isolation mechanism for different LSD tokens, adding multi-signature and Timelock functions, and enabling the first upgraded LSDfi product vdAMM in Shanghai. vdAMM converts unshETH into an AMM pool, allowing users to access deep liquidity in unshETH and swap between different LSDs.

(6) ArchiveNode.io, the Ethereum mainnet archive node service, announced the end of the project

On April 4th, the archive node service ArchiveNode.io of the Ethereum mainnet officially announced the end of the project, believing that the service is no longer necessary, and there are other alternatives, and there is currently a powerful remote procedure call (RPC) provider The marketplace provides access to archived data, rendering the project obsolete. It is reported that ArchiveNode.io has provided the service for free for developers, students and researchers for up to three years. An Ethereum Archive node is an instance of an Ethereum client configured to build an archive of all historical states.

(7) Optimism: Token House has approved the mainnet Bedrock upgrade

Optimism, the second-layer solution of Ethereum, announced that its governance organization Token House has voted to approve the upgrade of the Optimism mainnet Bedrock. Not only was this the first on-chain vote conducted by the Collective using the new voting page, it was also the first protocol upgrade. The voting link is the V2 version of the Bedrock upgrade proposal. The upgrade standard process is to first perform a Regolith hard fork on Optimism Goerli. After the audit is repaired, a 2-week test will be carried out on the testnet. Only after the testnet stability standard is met , the Optimism Foundation will not announce the upgrade date until at least 3 weeks after the release date. Upgrades will be triggered at specific times, not block heights.

(8) Ethereum re-pledging protocol EigenLayer releases the first phase of the test network for pledgers
The Ethereum restaking protocol EigenLayer released the first phase of its protocol test network on the Ethereum Goerli network. Currently, it only supports liquid restaking (liquid restaking) and native restaking (native restaking). Among them, liquidity re-pledging supports the re-pledging of various liquidity tokens on the EigenLayer contract. It is reported that the release of EigenLayer will be carried out in three stages, namely pledgers, node operators and services. EigenLayer stated that the testnet is an early non-incentivized testnet and the code is under active development.

According to previous reports, the Ethereum re-pledging protocol EigenLayer completed a $50 million A round of financing, led by Blockchain Capital, with participation from Coinbase Ventures, Polychain Capital, Bixin Ventures, Hack VC, Electric Capital, and IOSG Ventures. Previously, EigenLayer had completed a $14.5 million seed round led by Polychain Capital and Ethereal Ventures.
(9) zkSync: The project whose funds are stuck in the contract is Gemholic, and a solution to the unfreezing contract and Gas-related problems has been found

zkSync tweeted that Gemholic, the all-in-one platform on zkSync Era, has encountered smart contract problems, and the funds are safe. A solution has been found to unfreeze the contract, which can solve a wider range of Gas-related problems. Minimal changes to gas metering, but will allow for full recovery of funds, more details will be released tomorrow.

zkSync explained that any smart contract using transfer() or send() is heavily dependent on Gas cost (hardcoded 2300 Gas), but this is not guaranteed to work on Ethereum, the fallback() function can consume more than 2300 Gas, opcode Gas Pricing may change in future versions of Ethereum and contracts will break. zkSync Era is not equivalent to EVM, Era has a divergent, dynamic gas metering scheme, allowing some transaction types to have Gas only equivalent to 1/10 to 1/1000 of any other EVM Rollup. According to the current gas level of Era main network, ETH transfer will cost more than 2300 gas. This is why any .transfer() call without an explicit Gas stipend will currently fail. zkSync has always been aware that this problem could arise, so added a warning about .transfer() directly to the compiler.

As previously reported, Eden Au, director of research at The Block, tweeted, “A project on zkSync raised 921 ETH ($1.7 million) through a token sale, but the funds will be permanently stuck in the smart contract. The transfer() function applies For Ethereum and other EVM chains, but not for zkSync." In response, zkSync responded, "It will not be stuck in the smart contract, and is working with the team to help them solve the problem, and a detailed update will be released later."

(10) Redacted releases white paper on over-collateralized stablecoin Dinero

Web3 infrastructure provider Redacted has released the white paper for Dinero, an over-collateralized stablecoin backed by Ethereum blockspace. It is reported that Dinero is a currency experiment that introduces a public and permissionless RPC for users; a decentralized over-collateralized stablecoin Dinero; and liquid collateralized derivatives that benefit from the pledged yield and Dinero protocol.

(11) The mainnet of the options trading platform Aevo is officially launched, and will first support users to trade ETH options

The options trading platform Aevo mainnet is officially launched, allowing users to use the mainnet USDC and real settlement for transactions. Users will first be able to trade ETH options on the options chain, supporting daily, weekly, monthly and quarterly settlement options.

Aevo Exchange is built on top of Aevo Chain, allowing users to transfer funds to Aevo Chain directly from the Exchange user interface. Currently, Aevo only supports USDC cross-chain. Due to its early stages, Aevo will issue invitations to a limited number of users via PASS (an NFT that grants users the ability to transact on the platform), and has already issued invitations to existing Ribbon users, participating in Aevo's beta program, partners or Ribbon VIP Each wallet airdrops about 4,000 PASS.

(12) Memeland: 69 validator nodes will be set up for the Ethereum network

4. Borrowing

DeFiLlamaMemeland says there are three main reasons for setting up these validator nodes: to secure the ethereum network, to generate revenue by earning rewards, and to conduct “internal testing” of their developing Stakeland project. It is reported that Memeland also revealed that most of the project’s funds are in cryptocurrencies, and mainly ETH. According to its disclosed wallet address, the current holdings are about 10,000.32 ETH.

4. News

4. Borrowing

The data shows that the value of locked collateral on the chain rose from $29.03 billion to $29.89 billion last week, a month-on-month increase of 2.9%. Specifically, the number of ETH mortgages dropped from 16.15 million to 16.07 million last week, a drop of 1%. From the perspective of individual projects, the top three lock-up values ​​are: Lido $11.13 billion; MakerDAO $7.72 billion; Aave $4.89 billion.

4. News

(1) In March, the NFT market transaction volume on Ethereum dropped to 1.37 billion US dollars, and the Blur platform once again surpassed OpenSea

According to The Block Pro data, in March this year, a total of 92,057 ETH (approximately $151.9 million) were destroyed. Throughout March, ETH was in a deflationary state. Since the implementation of EIP-1559 in early August 2021, a total of 3.04 million ETH (approximately $9.17 billion) have been destroyed. The monthly transaction value of the NFT market on Ethereum fell 26.3% to $1.37 billion. The monthly transaction volume of the Blur platform surpassed that of OpenSea again, mainly due to the launch of its BLUR token.
(2) Survey: 83% of the interviewed crypto users expect more ETH to be pledged before and after the Shapella upgrade
OKX published the results of a survey on the market impact of the Shapella upgrade, scheduled for April 12, that will allow withdrawal of staked ETH. Key findings include:
- 83% of respondents expect more ETH to be staked in the next three months;
- 63% of respondents predict that by the end of 2023, ETH will reach an all-time high of more than $5,000;
- 79% of respondents expect the price of ETH to react differently to Shapella than to Merge. Among them, 59% believe that the currency price will continue to rise before and after the upgrade; 20% believe that it will be sideways;

- 33% of respondents believe that ETH will surpass the current 6-month high of $2,000 by June 2023, but remain below the 12-month high of $3,000;

- 34% of respondents predict that ETH will be below $2000, while 33% think it will reach at least $3100 by June 2023;

As of April 5, 2023, 17.9 million ETH are staked, equivalent to over $34 billion. Investors currently earn 4.65% APR on staked ETH, a figure that decreases as the staked ETH pool grows. (PR Newswire)

(3) Swiss bank InCore Bank announced that it will provide Ethereum staking services to customers