a16z Introduces Magi Optimism Rollup Client

Quick Take

• a16z releases Magi OP rollup client.
• Zero MEV releases an API for querying MEV data
• Jumper integrates opt-in bridge insurance.
• Rainbow supports Ledger Nano X wallets.

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Optimism Highlights 🔴✨

a16z Introduces Magi Optimism Rollup Client
Venture capital firm a16z crypto released Magi, a new rollup client built on the OP Stack. Magi aims to bring client diversity to Optimism by serving as an alternative consensus client to op-node. Magi performs the same core functionality as op-node and feeds new blocks to the execution client. Magi is also written in Rust. While Magi is not yet production-ready, it can sync to the Optimism and Base testnets. a16z crypto plans to build out Magi in the open and invites collaborators to contribute to the client’s development. The symbol for Magi is represented by an orange circle, akin to a red circle for Optimism and a Blue circle for Base. The OP Stack is an open-source codebase for building custom OP chains.

Zero MEV API For Querying MEV Data

Zeromev.org released its Zero MEV Rest API, a tool for tracking transaction-level MEV data on Ethereum. The tool serves as a public MEV dataset and allows users to search by block height or wallet address. It displays the USD value of losses incurred from MEV and breaks down the MEV type by arbitrage, frontrun, sandwich, or swap. ZeroMEV aims to increase transparency and awareness of MEV on Ethereum. Developers can use the API to build additional tools for interpreting MEV data. The API was developed by Pmcgoohan and was funded by the CoW Protocol Grants Program, which funds projects that further the growth of CoW Protocol.

Jumper Integrates Opt-In Bridge 🌉 Insurance

Jumper, a cross-chain bridge by LI.FI, introduced opt-in insurance, allowing users to purchase loss protection for their bridge transfers. The insurance protects users against bridge malfunctions, hacks, vulnerabilities, and slippage errors for in-transit transactions. The insurance cost ranges between 0.1% to 0.5% of the bridged amount. The feature integrates plans from multi-chain cover protocol InsurAce. Since launching, over 400 users have insured $100k worth of assets across 600 bridge transactions. Users with insured transactions must file a claim within seven days of a loss event. Jumper supports cross-chain token transfers across 17 chains.

Asymmetry Finance Unveils safETH Index 💧

Asymmetry Finance introduced safETH, a liquid staking ETH index claiming to offer zero fees to holders. safETH also claims to offer 5.6% APY, which is currently higher than Index Coop’s dsETH index token. Asymmetry aims to reduce single-entity market dominance in the liquid staking ecosystem. Currently, Lido holds a 30% market share among liquid staking protocols. The safETH index has not yet been deployed but will contain a share of rETH, wstETH, and sfrxETH tokens.

Rainbow Now Supports Ledger Wallets

Rainbow now supports Ledger Nano X hardware wallets on its iOS and Android app. The integration uses Bluetooth connectivity on the Ledger Nano X to connect with the Rainbow wallet. Once a hardware wallet is successfully paired and connected, users can initiate transactions in Rainbow and sign for them on their Ledger Nano X.