ENS Open Letter To Unstoppable Domains

Quick Take

• ENS writes an open letter to Unstoppable Domains.
• Aave Companies rebrands to Avara.
• BlackRock files for an Ethereum Spot ETF.
• Fhenix publishes its whitepaper for FHE rollups.

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ENS Open Letter To Unstoppable Domains

ENS founder Nick Johnson published an open letter to Unstoppable Domains seeking a legally binding commitment to freely license their patent on Resolving Blockchain Domains. Johnson says that the patent, which was awarded earlier this year, is entirely based on innovations developed by ENS. Johnson expresses concern over Unstoppable Domains' ongoing pursuit of additional patents and requests them to openly license their patents. In response, Matthew Gould, founder of Unstoppable Domains, declined the request, instead suggesting for ENS join the Web3 Domain Alliance, an entity funded and run by Unstoppable.

Aave Companies Rebrands To Avara

Aave Companies introduced Avara, a rebrand for its parent entity that houses its portfolio of DeFi projects. The rebrand is paired with the acquisition of Los Feliz Engineering (LFE), the team behind the Family self-custodial wallet and and ConnectKit developer library. The amount of the acquisition was not disclosed. Avara's portfolio includes the Aave lending protocol, the Lens web3 social graph, the GHO stablecoin, the Sonar game, and now the Family crypto wallet. Committed to driving DeFi innovation, Avara positions itself as a key provider of web3 features and services, catering to startups, existing businesses, users, and DAOs. Avara's website also hints at an upcoming new project.

BlackRock Files For Ethereum Spot ETF

BlackRock, the world's largest asset manager, handling trillions in assets, submitted Form S-1 to the SEC for a spot Ethereum ETF. Last week, the company registered the iShares Ethereum Trust in Delaware. The iShares Ethereum ETF is set to be listed on the Nasdaq exchange if approved by regulators. A spot ETF offerrs investors the opportunity to gain exposure to Ethereum without directly holding ETH. Instead, BlackRock will to hold spot ETH, which will be under the custody of the Coinbase Custody Trust Company. The SEC has a maximum of 240 days to either approve or reject the application.

Fully Homomorphic Encryption (FHE) Rollups

Fhenix published its whitepaper for Fully Homomorphic Encryption (FHE) rollups. FHE is a scaling solution for private smart contract execution. It allows computation on encrypted data without decryption. The solution also uses Arbitrum Nitro’s fraud prover to compile all the FHE logic down to WASM. The paper demonstrates a partial proof-of-concept for FHE Rollups and is open for community feedback.

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