Optimism Bedrock Upgrade Set For June 6th

Quick Take

• Optimism Bedrock upgrade planned for June 6th.
• Staking withdrawals go live on Lido V2.
• Beacon Chain suffers an Inactivity Leak.
• Core developers implement EIP-4844 changes.

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Optimism Highlights 🔴✨

OP Mainnet Bedrock Upgrade Set For June 6th
Optimism announced plans to upgrade OP Mainnet to Bedrock on June 6th at 4 PM UTC. During the upgrade, OP Mainnet will be down for 2 to 4 hours. The event will affect end users as OP Mainnet will not be progressing and transactions, deposits, and withdrawals will be unavailable during the downtime. Node operators will be required to deploy new nodes for Bedrock. Bedrock is an overhaul of the OP Stack that introduces gas optimizations, reduced deposit times, and simpler node infrastructure. Bedrock will enable multi-client support, including Magi and OP Erigon, for all OP chains. It also introduces a horizontally scalable network of chains coined as the Superchain, which allows developers to deploy their own rollup with shared security.

Lido Finance Deploys V2 Upgrade

Ethereum staking withdrawals are now live on Lido Finance following approval from governance to deploy the protocol’s V2 upgrade. stETH token holders can now initiate 1:1 token redemptions for ether. Support for staking withdrawals on Lido comes roughly one month after the Shapella upgrade went live on Ethereum. Lido is using funds from its withdrawals vault of 270k ether as a buffer to prioritize withdrawal requests. The V2 release also includes features that aim to improve decentralization, such as a staking router, which is a modular architectural component that seeks to enable on-ramps for solo stakers, DAOs, and DVT clusters.

Beacon Chain Suffers An Inactivity Leak

The Ethereum Beacon chain suffered a second finality incident on May 12th across eight epochs starting at epoch 200751 and ending at epoch 200758. The second incident caused the network to enter into an inactivity leak mode, which happens automatically when the chain fails to finalize a checkpoint for longer than four epochs. During the inactivity leak mode, attestation rewards are reduced to zero and the inactivity penalty for non-participating validators gradually increases. The mechanism aims to reach finality by reducing the balance of offline validators to allow participating validators to regain a majority stake for finalizing checkpoints.

Ethereum developer Ben Edgington estimates that about 28 ether was burned and roughly 50 ether was not issued during the network inactivity leak. Finality has since been restored and the finality issue has been mitigated by Prysm and Teku patch releases. Prysm users are urged to update to v4.0.4, released earlier today.

Developers Implement EIP-4844 Changes

Core developers are working to implement an RLP serialization scheme for EIP-4844 transactions. Developers agreed to pass validation to the consensus layer for verifying blob transaction versioned hashes. Developers also decided to remove contract creation from blob transactions. The progress marks the final stages ahead of fuzzing, hive, and shadow fork testing, following the Cancun upgrade.