Validator Exit Queue Increases Past 18,000

Quick Take

• Ethereum’s validator exit queue grows past 18,000.
• Prysm releases v4.0.2 to address missed blocks.
• Uniswap Wallet is now available for all iOS users.
• Yearn publishes a proposal to launch yETH.

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Validator Exit Queue Surpasses 18,000

The Ethereum validator exit queue wait time has tripled from 5 days to 15 days in length as more than 18,000 validators now wait in the queue for a full exit. Kraken and Houbi are the top two entities executing full validator exits. Roughly 40% of validators are yet to set a withdrawal address, which is required for a partial and full withdrawal. 300k validators are currently in the queue for a partial withdrawal. 210,000 ether has been withdrawn from the Beacon Chain since the activation of Shapella. While new validators are joining the network, withdrawals still outweigh deposits by about 114,000 ether, according to data from Nansen. More than 544k validators remain active on the network.

Prysm Releases v4.0.2 Mandatory Upgrade

Prysm released v4.0.2 of its consensus client to address missed blocks when interacting with mev-boost. Shortly after the Shapella upgrade, core developers discovered a bug in a previous version of Prysm that caused logs with invalid signatures. As a result, relayers could not return a payload call, and Prysm validators could not propose a new block since they already signed a block header. Flashbots engineer Chris Hager said that the bug was not found on previous Shanghai testnets since it requires a very particular set of circumstances. As a temporary fix, mev-relay stopped sending bids to Prysm proposers, causing validators to fall back to local block production. Validators running Prysm with mev-boost are required to upgrade to v4.0.2 to prevent missed blocks.

Uniswap Wallet Public Release For iOS

The Uniswap mobile wallet is now available for all iOS users. The wallet was previously in an early-access release to 10,000 users via Apple TestFlight. Uniswap Wallet supports swaps on Ethereum, Polygon, Arbitrum, and Optimism. Users can create a new wallet, import an existing wallet, or track a wallet in view-only mode. The wallet does not support NFT trading, likely due to Apple’s hefty 30% commission fee on in-app purchases. Users can still browse NFT collections and track floor prices. Uniswap Wallet also includes a fiat on-ramp via MoonPay with fees as low as 2.55%. The code for Uniswap Wallet is also open-source under a General Public License (GPL).

Yearn Proposal To Launch yETH

A proposal to launch the yETH liquid staking token is now open for discussion in the Yearn governance forum. Similar to IndexCoop’s dsETH token, yETH will represent a basket of the top 5 liquid staking tokens. Instead of being governed by YFI token holders, yETH will be self-governed by its own token holders. During an initial bootstrapping phase, 10% of ETH from yETH minters will be sent to the Protocol Owned Liquidity (POL) contract, which will be used to fund yETH/ETH liquidity pools. Following a discussion phase, the proposal will be published on Snapshot to be voted on by veYFI holders. Yearn Finance is a leading yield aggregator with over $450 million in TVL.

Rocket Pool $250k Atlas Bug Bounty

Rocket Pool’s Atlas smart contracts are now eligible for the project’s $250k Immunify bug bounty program. The Atlas contracts are set to go live on the protocol next week on Tuesday, April 18. The upgrade will allow minipools to be deployed with only 8 ether. Rocket Pool node operators are required to upgrade to smartnode v1.9.0 or later to be compatible with the Atlas upgrade.