Good morning, cryptonauts and DeFi degens! Welcome to another instalment of Datawallet's Daily Dose, your one-stop shop for all things crypto and beyond! Whether you're a seasoned hodler or just dipping your toes into the crypto sea, we got your back.
We're here to keep your crypto knowledge sharp and your blockchain strategy sharper. Get ready to take the lead in this fast-paced financial frontier with us by your side.
Now, let's dive into today's hotlist of crypto buzz:
- First IBC-enabled EVM Layer 2 launched
- Coinbase responds to the SEC
- New CEO of OP Labs behind Optimism announced
- Ethereum All Core Devs Call roundup
Cosmos-Enabled EVM L2 Goes Live
Dymension's 35-C testnet is live, showcasing the first IBC-enabled rollup and launching the first IBC-EVM RollApp in the ecosystem. Thanks to EVMOS, we've got EVM in app-chains. Now, Dymension's taking it a step further, introducing EVM to RollApps, all juiced up by EVMOS tokens.
The EVM RollApp, built on Dymension’s RDK with Ethermint, lets devs deploy EVM-compatible smart contracts with RollApps' customization, speed, and easy bootstrapping. It's an ultra-fast, low-latency space perfect for order-books, EIP testing, and next-gen game development.
The EVM RollApp uses IBC-transported EVMOS tokens for gas fees, creating a win-win modular chain. This testnet RollApp will send data to Celestia’s Mocha testnet and state updates to the Hub.
Dymension also introduced Sequencers, dedicated block producers for RollApps, promising faster user experience compared to other EVM chains and Ethereum rollups.
Finally, they've unveiled a Uniswap v2 fork to display the perks of EVM RollApps. Here, users can swap various testnet tokens like DYM, RAX, tEVMOS, etc. Remember, these are just for demonstration.
Coinbase Claps Back at the SEC
Coinbase, the U.S.'s top crypto exchange, has just clapped back at a Wells Notice received from the Securities and Exchange Commission (SEC). The firm has urged the SEC to reconsider potential enforcement action, arguing it's in the SEC's best interest.
Coinbase, which went public on the Nasdaq in 2021, claims that the SEC's approval of its listing implied an endorsement of its business practices. Now, Coinbase has warned the SEC about potential reputational harm, citing the regulator's "abrupt about-face" and its potential to discourage regulatory compliance in the industry.
Coinbase has also taken legal steps, petitioning a federal court to push the SEC for clearer crypto regulations. Last July, the exchange submitted its "request for regulatory action" to the SEC, advocating for more clearly defined rules regarding securities in the realm of digital assets.
In a spirited defense, Coinbase argues that its platform doesn't list securities, its Coinbase Wallet isn't a broker, and its staking services don't constitute a securities offering. With the firm's response to the Wells Notice, the next move is up to the SEC, which has up to six months to decide on bringing charges.
Meanwhile, Coinbase is gearing up for expansion outside the U.S., following regulatory scrutiny and the fallout from the collapse of crypto exchange FTX last November. Despite its legal tussle, Coinbase remains committed to building a revamped financial system, as it prepares to "vigorously defend" itself.
New OP Labs CEO
OP Labs, the entity that is the driving force behind the Optimism Layer 2 has just announced the Karl Floersch will be taking over as the new CEO. The previous CEO, Liam Horne, will be stepping down but will still remain close with the team as they continue their journey in scaling Ethereum.
Karl noted that his priority will be doubling down on protocol development and committing Optimism and OP Labs as being an engineering-first organisation.
Ethereum All Core Developer Call Roundup
On April 27, the 160th All Core Developers Execution (ACDE) call chaired by Tim Beiko took place, discussing changes for the upcoming Ethereum upgrade, Cancun.
Key takeaways:
- Ethereum Improvement Proposal (EIP) 4844, or proto-danksharding, was agreed upon, along with EIP 6780 (modifying SELFDESTRUCT opcode), EIP 6475 (introducing a new Simple Serialize type), and EIP 1153 (adding new opcodes for manipulating transient state).
- EIPs 6913, 6493, 4788, 2537, and 5656 are still under consideration for Cancun.
- Big EOF and EVMMAX EIPs were removed from consideration for Cancun.
- SELFDESTRUCT opcode deprecation was a key focus. EIP 6780's impact is being audited due to potential breaking changes, and its pairing with EIP 6913 (allowing code replacement for contracts relying on SELFDESTRUCT) is under consideration.
- SSZ formatting changes were discussed for better EL and CL serialization compatibility, with EIP 6475 agreed upon for inclusion in Cancun.
- EIP 1153 received broad support due to its advanced testing status, with further discussions planned for EIPs 4788, 2537, 5656, and 5920.
- EOF implementation was postponed to a later upgrade for proper focus and time allocation, supported by consensus from Ethereum developers.
- Finally, EIP 4844's progress was discussed, with Devnet #5, a multi-client test network for EIP 4844, launched on April 26.
Other Breaking Stories
- Aki Network raises at a $40 million valuation at seed round.
- Balancer reveals new boosted pools for higher yields.
- Peter Szilyagyi submits proposal to terminate Rinkeby testnet.
- Retrospective on Certik’s failed audit of zkSync project Merlin.
- Some thoughts by Verilog on the current MEV conundrum.
Wrapping Up
In today's edition of Datawallet's Daily Dose, we covered significant happenings across the crypto landscape. From Dymension's pioneering IBC-enabled EVM Layer 2 launch to Coinbase's spirited response to the SEC's Wells Notice, the scene is rife with progress and challenges. In personnel moves, OP Labs welcomed Karl Floersch as its new CEO. Meanwhile, the Ethereum community is keenly focusing on the Cancun upgrade with numerous EIPs under consideration.
Stay tuned for more blockchain breakthroughs and crypto updates, as we continue to navigate this exciting digital frontier together.
