Pendle Goes Live On OP Mainnet

Quick Take

• Pendle Finance goes live on OP Mainnet.
• Starkware introduces the Papyrus full node.
• Coinbase receives regulatory approval to offer crypto futures.
• Safe launches its first grants wave.

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Optimism Highlights 🔴✨

Pendle Goes Live On OP Mainnet
Tokenized yield protocol Pendle Finance is now live on OP Mainnet with initial support wstETH and rETH markets. Pendle Finance splits assets intro principle and yield tokens. Users can deposit LSTs to earn a fixed yield, purchase yield tokens at a discount, or provide liquidity to earn yield in addition to staking rewards. The new wstETH and rETH pools on OP Mainnet already hold over $300k in combined TVL. Pendle Finance holds over $100 million in TVL across all chains. The protocol is live on Ethereum, BNB Chain, Arbitrum, and Optimism. Users can also sync their vePENDLE from Ethereum to Optimism to vote on liquidity pool incentives.

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Starkware Introduces Papyrus Starknet Full Node

Starkware introduced Papyrus, an open-source Rust implementation of a Starknet full node. The node contributes to the development of the Starknet Sequencer, improving throughput and system performance. Papyrus strengthens decentralization by providing redundancy alongside existing nodes, Pathfinder and Juno. Papyrus currently enables syncing with Starknet’s state and history. The implementation features an efficient storage layer that requires Sequencers to maintain a local database instead of a cloud-based database. A future version will fully support JSON-RPC and establish a P2P layer. Papyrus will play a key role in advancing Starknet.

Coinbase Approved To Offer Futures Contracts

Coinbase received regulatory approval to operate as a Futures Commission Merchant (FCM), allowing the exchange to offer crypto futures to U.S. customers. The approval was granted by a CFTC-designated Self-Regulatory Organization (SRO) known as the National Futures Association (NFA). The approval process began nearly two years ago in September 2021. The approval allows Coinbase to offer both traditional spot crypto trading and regulated leveraged crypto futures on an integrated platform. Coinbase plans to offer futures contracts in BTC and ETH to eligible retail investors in the U.S. in the near future.

Safe Launches Grants Wave 1

Smart contract wallet provider Safe launched the first wave of Safe Grants offering up to $500,000 for teams building in the Safe Ecosystem. Builders can submit grant applications between now and September 6th. The SGP Grants Council will then evaluate applications and will announce final decisions by October 1st. Safe is seeking the creation of a Safe transaction explorer, a Safe browser extension Snap, and an L2 Beat analytics dashboard.