Vitalik Outlines Next Steps For The Purge
The Purge aims to minimize the storage requirements for validators by eliminating historical blockchain data.
Quick Take
- Vitalik outlines the next steps for The Purge.
- Prisma Finance proposes a path forward.
- OpenSea integrates bridging via Socket.
- Maker proposes to allocate 600m DAI to USDe.
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Vitalik Outlines Next Steps For The Purge
Vitalik Buterin outlined the next steps for The Purge, a crucial milestone on Ethereum's roadmap focused on minimizing the storage requirements for validators by discarding obsolete blockchain data. Buterin underscores the activation of EIP-6780 in Dencun, which reduced the complexity associated with the SELFDESTRUCT opcode. Dencun also introduced blob data that does not require indefinite storage. Looking ahead, Buterin emphasizes the need for Ethereum's simplification through measures such as phasing out infrequently used precompiles, implementing the historical data storage EIP-4444, refining the process for log storage, and migrating to the SimpleSerialize (SSZ) format.
Prisma Finance Path Forward
Prisma Finance released a governance proposal aimed at conserving funds by proposing the elimination of the weekly protocol-owned liquidity (POL) and reducing the weekly distribution to vePRISMA holders by 50%, from $160,000 to $80,000. The initiative follows a security breach in which $11.6 million in user assets were drained. Prisma Finance has halted borrowing and the flow of new liquidity into its stablecoin protocol. $540,000 remains at risk due to users who have not yet revoked vulnerable token approvals. The attacker, claiming to be acting with whitehat intentions, has demanded a public apology from the Prisma team as a prerequisite for the return of funds
OpenSea Integrates Bridging Via Socket
OpenSea now supports a token bridge and swap feature within its NFT marketplace, enabling users to seamlessly transfer assets between seven chains including Ethereum, Arbitrum, Base, Optimism, Zora, and Polygon. The feature supports swaps for ETH, WETH, USDC, MATIC, and DAI and leverages Socket’s liquidity aggregation protocol. While OpenSea can introduce a bridging fee in the future, it is currently offering the bridging service without additional fees. Socket's bridge plugin allows dapp developers to build their own bridge featuring custom widget designs, preset chain selections, approved bridge lists, and selected token lists. This functionality provides access to bridging with minimal coding effort.
Maker 600M USDe Allocation Proposal
Block Analitica member Monet Supply recommended that MakerDAO allocate a total of $600 million DAI across various USDe and sUSDe pools in the Morpho Spark DAI vault. USDe is an overcollateralized stablecoin that offers yield and is backed by stETH and positions in derivatives markets. The recommendation aims to gain exposure to USDe and generate increased revenue.
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