Base Experiences A Block Production Halt
Users were unable to execute transactions during the 30-minute chain halt.
Quick Take
- Base experiences a temporary halt in block production.
- Native USDC goes live on Base.
- DeFi Saver introduces ETH Saver.
- MetaMask integrates a crypto-to-fiat off-ramp.
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Optimism Highlights 🔴✨
Base Experiences Block Production Halt
Base Mainnet experienced a temporary halt in block production for a period of about 30 minutes. Blocks first stalled at 9:25 PM UTC, starting with block number 3579888. Users were unable to execute transactions during the halt. The Base team identified the issue 10 minutes later and issued a fix within 45 minutes. The exact cause of the chain stall has not yet been reported at the time of writing. While block production was restored, Base later reported issues with its RPC endpoint at mainnet.base.org. Users can still execute their transactions but may encounter issues. Base is the fifth largest L2 network with over $380 million in TVL.
CCTP Goes Live On OP Mainnet
Native USDC is now live on Base and OP Mainnet, allowing users to send USDC using Circle’s Cross-Chain Transfer Protocol. The Cross-Chain Transfer Protocol allows USDC to be natively burned on a source chain and natively minted on a destination chain. Bridged versions of USDC have been re-labeled to “USDC.e.” Bridges that support the CCTP on OP Mainnet include cBridge, LI.FI, OKX, Socket, Synapse, and Wormhole.
DeFi Saver Introduces ETH Saver
DeFi Saver introduced ETH Saver, a dedicated portal for managing leveraged staked ETH positions. The app allows users to open stETH, cbETH, or rETH leveraged positions across Morpho V3, Aave v3, or Compound V3. Users can open and close positions, manage leverage, and add or withdraw margin with a single transaction. ETH Saver also tracks profit and loss, liquidation risk data, and historical performance. The app is only available on Ethereum Mainnet. DeFi Saver plans to add support for additional protocols and networks at a later date. There is a 10% performance fee applied on exiting positions. DeFi Saver is a dashboard for managing assets across protocols.
MetaMask Integrates Crypto-To-Fiat Off-ramp
MetaMask integrated a crypto-to-fiat off-ramp in its portfolio dapp. Users can now convert ETH into USD, EUR, or GBP. The converted fiat will be added to a user’s destination of choice, including a local bank account or PayPal balance. The feature is only available on Ethereum Mainnet with planned support for L2 networks in the future.