Aerodrome Deploys On Base

Quick Take

• Polygon introduces the Chain Development Kit.
• Grayscale wins a lawsuit against the SEC.
• The EF releases an execution layer specification.
• X acquires a currency transmitter license.

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Aerodrome Deploys On Base
Aerodrome, an AMM and liquidity layer by Velodrome, is now live on Base. The launch includes the distribution of 500 million $AERO tokens, with 450 million tokens locked for four years. The remaining 50 million $AERO tokens are liquid and available for voter incentives and initial liquidity. The protocol features a vote-escrowed token model, concentrated liquidity, and governance-controlled parameters.

Polygon Introduces The Chain Development Kit

Polygon introduced the Chain Development Kit (CDK), an open-source software suite that allows developers to launch their ZK-powered L2 chain on Polygon 2.0. The development stack features components for sequencing, data availability, VM, and proving. Developers can choose from rollup or validium modes and custom configurations. Every ZK L2 deployed is connected through a shared ZK bridge, unlocking shared liquidity and interoperability with participating Polygon chains. Shared liquidity is enabled by Polygon 2.0's Interop Layer, a protocol that gathers ZKPs from Polygon chains, combines them, and forwards aggregated proof and updated chain states to Ethereum.

Ethereum Execution Layer Specification

The EF introduced the Ethereum Execution Layer Specification (EELS), a Python-based reference implementation of key components in an Ethereum execution client. EELS offers a clear and programmer-friendly alternative to the Ethereum Yellow Paper. EELS can execute state tests, track mainnet activities, and prototype new EIPs. It also provides snapshots of protocol forks. EELS was inspired by the Consensus Layer Specification and aims to serve as the primary reference for specifying Core EIPs. The release includes documentation and an example implementation of an EIP.

Court Sides With Grayscale In ETF Petition

The D.C. Circuit Court of Appeals ruled in favor of Grayscale Investments in a petition for review against the SEC. Last year, the SEC rejected Grayscale’s application to convert its Grayscale Bitcoin Trust (GBTC) into an ETF. Today’s ruling requires the SEC to review their rejection and provide a response within the next couple of months. The SEC initially cited insufficient market manipulation safeguards as a reason for the rejection. However, the court did not find the reason to be sufficient, especially since Grayscale proposed using the same market manipulation safeguards that were used for ETF futures that were previously approved by the SEC. Bitcoin ETFs allow investors to gain exposure to Bitcoin in the form of stock, rather than having to own the cryptocurrency directly. The move could potentially lead to the SEC approving a Bitcoin spot ETF.

X Acquires Currency Transmitter License

X acquired a Rhode Island Currency Transmitter License, allowing it to offer crypto payment services to users. According to The Crypto Times, X can now enable the storage, transfer, and exchange of digital assets directly on its platform. X has previously released Bitcoin tipping and NFT profile picture features.