Ethereum Could Be 50% Faster With This

Alpha Team
October 07, 2024

🚀 Ethereum's EIP-7781: Faster Transactions on the Horizon

Reducing Block Time for Efficiency: Ethereum's latest proposal, EIP-7781, seeks to reduce block time from 12 seconds to 8, increasing transaction throughput by 50%. Introduced by Ben Adams on October 5, 2024, this change aims to speed up network performance.

Impact on Solo Stakers: The proposal raises concerns about solo stakers needing more advanced hardware to keep up with faster processing, risking decentralization. Developer Adam Cochran called for further testing to ensure these users are not left behind.

Potential Cost Savings: If adopted, the proposal could make decentralized exchanges 1.22x more efficient, potentially saving $100M annually in arbitrage costs. Despite this, high gas fees remain a key issue on the network. Read More.

️ On today's Top Picks:

✅ US Bankruptcy Judge approves FTX reorganization plan.
🟪 Phantom wallet adds beta support for Base.
🪂 Puffer $PUFFER snapshot taken; TGE & Airdrop coming soon.
☠️ Ton Wallet Drainer shuts down services.

Read time: ⏰ 5 minutes

Crypto News

• ⭐️ Ethereum Proposal EIP-7781 proposes reducing Ethereum's slot time from 12 seconds to 9 seconds; increases transaction throughput by ~50%.

• ⭐️ US Bankruptcy Judge approves FTX reorganization plan; 94% of creditors representing ~$6.83b voted in favor.

• US DOJ moves to seize 2.7m from Lazarus hacks traced through Tornado Cash & other mixers.

• Fold submits S-4 filing to US SEC as it intends to go public.

• Digital Asset Investment Products realize ~$147m worth of net outflows; ends 3-week inflow streak.

Alpha

• ⭐️ Phantom wallet adds beta support for Base; needs to be manually enabled in the settings.

• Babylon Phase-1 Cap-2 to open early; estimated to open on October 8th at 20:00 UTC.

• Puffer $PUFFER Season 2 begins; Season 1 snapshot taken.

• Caldera launches Meet the Metalayer: Arbitrum quest on Layer3.

• Aztec launches Road to Mainnet interactive Roadmap.

Airdrops

• Weekly Earndrop News Recap by Earndrop.

• Swell $SWELL updates Voyage Loyalty Bonus criteria.

• ⭐️ Puffer $PUFFER snapshot taken; TGE & Airdrop coming soon.

• Bungee airdrops additional Bungee Balls to more communities.

• CARV $CARV to launch on October 10th at 08:00 UTC.

• Enjoy launches $ENJOY Season 4 Airdrop; reopens Season 3 Airdrop.

Finance News

• Anduro, a layer-2 netowrk incubated by Marathon $MARA; unveils tokenization platform.

• Metaplanet buys an additional ~$7m worth of Bitcoin; total holdings now worth ~$40.5m.

• UAE exempts cryptocurrency transfers & conversions from value-added tax.

• US Banks face $500b in losses as de-dollarization grows.

Security and Exploits

• SlowMist publishes Weekly Security Report highlighting ~$10m in total losses.

• ⭐️ Ton Wallet Drainer shuts down services due to lack of whales & small community.

• Symbiotic X Account compromised since Friday; postmortem coming soon.

• Apple releases iOS & iPadOS updates patching two security vulnerabilities.

Token Unlocks

• Ethena $ENA / ~$4m / OCT 09
• Xai $XAI / ~$7m / OCT 09
• Optimism $OP / ~$13m / OCT 10
• IOnet $IO / ~$4m / OCT 11
• Aptos $APT / ~$98m / OCT 11
• Cardano $ADA / ~$7m / OCT 12
• Taiko $TAIKO / ~$12m / OCT 14
• Render $RENDER / ~$3m / OCT 14
• Cyber $CYBER / ~$3m / OCT 14
• Axie Infinity $AXS / ~$43m / OCT 14
• Starknet $STRK / ~$25m / OCT 15

Funding

• Moonray raises $4.75m in funding from Animoca Brands, P2 Ventures, & Cardano Foundation.

The Degen Farmer

Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!

PROTOCOL	ASSETS	APY
Tangible Arcana (Re.al)	ARCUSD	31.98%
Notional V3 (Ethereum)	NUSDC	31.29%
Extra Finance (Base)	DOLAUSDC	23.20%
Aerodrome V1 (Base)	DOLAUSDC	20.89%
Anzen V2 (Ethereum)	SUSDZ	19.44%
Turbos (Sui)	USDTUSDC	19.39%
Velodrome V2 (Optimism)	USDCDOLA	19.19%
Merkl (Ethereum)	USDCDYAD	18.91%

. . .

🟢 Polynomial Superchain Is Live

Trade 2.0: Polynomial recently introduced Trade 2.0, their flagship decentralized leverage trading platform offering gasless trading, cross-margin capabilities, and more. $BTC, $ETH, $SOL, $PEPE, $WIF, $SUI, and $AAVE markets are live with more markets coming soon!

Trading Points: Polynomial distributes 1,000,000 trading points daily! Allocation of trading points is based on factors such as trading volume, OI rebalancing, or [redacted].

Trading Fest🟢: From October 1st to December 31st, Polynomial will distribute 150,000 Optimism $OP tokens to traders on Polynomial trade. In addition, traders can earn other token rewards, a chance to win exclusive NFTs, and more surprises that will be shared soon.

👉 Explore Polynomial with Trade 2.0

. . .

That’s it for today’s edition! See you soon.

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