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Daily news roundup with the 🦙

1/2 News📰

Fault proofs live on Base mainnet

Astria mainnet live

Elixer Mainnet Phase 1

Solayer RWA backed stablecoin

Morph Mainnet Live

Skate Shadow Mainnet live

Eclipse launches ETH unified restaking token

Paxos introduces new stablecoin USDG

NEBRA zkp launches aggregation tool on World Chain

=nil; Testnet v1 live

Multiplier testnet live on Abstract

Karak Data Availability Marketplace live on Testnet

Cortex Intelligent Accounts

OpenBlock update on Linea's LXP-L Campaign

Argot Collective spinning out of Ethereum Foundation

Timedotfun migrating from Base to Solana

Justin Drake and Dankrad Feist both resign from their Eigenlayer advisorship

Franklin Templeton launches tokenized money fund on Base

Tether Attestation for Q3/2024

Kraken lays off staff, announcing new co-CEO

dYdX cutting 35% of their team

Partner at DWF, Eugene Ng, allegedly spiking a potential hire's drink

Zircuit Fairdrop to EIGEN holders

Layer 1 & 2⛓

Solana with Micro Validators

OP Succinct with Celestia Underneath

50ms block times on Atlas

PowdrVM 0.1 release, zkVM with multi-prover support

Unichain introducing a new validation network

Scroll SDK & Gadgets

Ethereum ACDC 145 writeup

Middleware 🪢

Jito restaking deposits are live

DeFi 🏦

Fluid DEX launched

Synthetix USDx on Arbitrum

GMX bringing their perp dex to Solana

Aave v3.2 upgrade live

Krav perp dex rebrands to Rave and intends to launch on Initia's interwoven stack

Reya Network Phase 2

Wildcat V2 whitepaper

Vote for savings crvUSD

Ethena risk dashboard

[Ethereum Staking Penalty Simulator](https://x.com/LlamaRisk/status/18517323139203727512/2 ### Reads 📚)

Possiable futures of the Ethereum protocol, part 6 The Splurge

Story of Sabliers discontinued project called Sablier Mainnet

Starknet: Ethereum's Dreadnought is Back

Full DAS Sampling Analysis

Electric Capital Global Crypto Developer Data

Dependency funding round dynamics

FUTARCHY AS TRUSTLESS JOINT OWNERSHIP

Polylogarithmic Proofs for Multilinears over Binary Towers

Sam Kazemian new system for valuing digital commodities vs gov tokens

How to Hedge IL in Uni V2 & V3 Using GammaSwap's Straddle

dApps Graveyard

Raises💰

Infinex $67.7m Patron Sale

Glow Fiybdatuib rauses $30m funding

Ellipsis Labs $21m fundraise

Citrea $14m series A funding

Gelato Series A+ $11m funding

Sapien AI $10.5m seed funding

Spire Labs $7m seed funding

Phylax $4.5m pre-seed funding

Nitro Labs $4m seed funding

Hana Network $4m builders round

Axal $2.5m pre-seedfunding

CAP Labs $1.9m pre seed funding

KRNL Labs $1.7m pre seed funding

Bridge acquires Web3 Wallet Platform Triangle

Security 🛡

Venn decentralized firewall testnet live

M2 exchange $13.7m cybersecurity incident

Radiant Capital's Ethereum markets are now unpaused

Maia DAO Post Mortem

Malicious token contract cointains hidden code that bypasses token allowance

Vyper Security

Development⚙️

[Syndica Cloud V2 RPC implementation](https://x.com/Syndica_io/status/1852026712877322265(forward from ****)) France to ban users’ access to Polymarket: report1

1: https://www.dlnews.com/articles/regulation/france-to-ban-users-access-to-polymarket-website-report/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Here are the people who could replace crypto foe Gary Gensler1

1: https://www.dlnews.com/articles/regulation/crypto-allies-poised-to-run-sec-after-chair-gensler/?utm_source=telegram&utm_medium=organic_social&utm_campaign=Llama news round-up: smol edition this week as Intern is in Bangkok for devcon🇹🇭

News 📰

Eclipse mainnet live

cbBTC live on Solana

Wintermute's prediction market: OutcomeMarket

Story’s final testnet, Odyssey, is now live

Degen chain migrating away from conduit

Conduit response

Biconomy acquires Klaster building modular execution enviroment

L2BEAT's dashboard for data availability

Possible V2 of OpenSea

Layer 1 & ## 2 ⛓

Magic Labs Unveils Chain Unification Network 'Newton'

Escape Hatches

DeFi 🏦

Euler Prime - a bespoke lending market to provide the most capital efficient lending experience

Governance proposal submitted to enable fee switch for ENA

Spark mainnet beta is live

defi.money | The MetaCDP

Ethereal DEX

USDxl: yield backed stablecoin by Last

Vote to allow for MORPHO transferability passed

Synthetix acquires Kwenta

Arkham perpetual exchange

BounceX, perpetual exchangepowered by AUCTION token

Recovering from Napier V1

MEV⚡️

Rollup-Boost availble on Conduit rollups

Reads 📚

pm-AMM: A Uniform AMM for Prediction Markets

From prediction markets to info finance

Ethereum Foundation report

The Practical Guide to Ethereum Rollups

On solver economics

Aerodrome: The Onchain Liquidity Engine

Why we need altVM's

AI Agent coordination layer

Tethered to Dominance: Tether's Future in a Trump Presidency

**## Raises 💰 ** vlayer $10m pre-seed funding

Pharos $8m seed funding

Pond $7.5m seed funding

Rekt Brands $1.5m seed fundung

Usual $1.5m community round

Binance Labs investing in BIO Protocol

Security 🛡

DeltaPrime exploited fore $4.75m

Development⚙️

Solar: implementation of Solidity compliler in rust

ColliderScript: Covenants in Bitcoin via 160-bit hash collisions

Ox, standard library for Ethereum

[Velos: lightweight Solana client](https://x.com/leafar_dev/status/1854271700709319110(forward from ****)) ‘Desperate’ trader offers $2.5m reward to recover stuck funds1

1: https://www.dlnews.com/articles/defi/desperate-crypto-trader-offers-reward-to-recover-stuck-funds/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Ethereum researcher Justin Drake unveils new plan to supercharge the network1

1: https://www.dlnews.com/articles/defi/ethereum-researcher-unveils-beacon-chain-redesign-at-devcon/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Bitpanda’s new ‘global ambassador’ is tennis star who settled ex-girlfriend’s abuse case1

1: https://www.dlnews.com/articles/people-culture/bitpanda-taps-controversial-tennis-star-as-global-ambassador/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Crypto dealmaking poised to soar as Trump loosens rules and replaces regulators1

1: https://www.dlnews.com/articles/markets/crypto-dealmaking-to-soar-as-trump-loosens-finance-rules/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Manifold token craters 98% as founder ghosts frustrated supporters1

1: https://www.dlnews.com/articles/defi/manifold-token-craters-while-founder-goes-awol/?utm_source=telegram&utm_medium=organic_social&utm_campaign=Llama news round-## up 🍗

News 📰

BlackRock expands BUIDL to Aptos, Arbitrum and Optimism

Ethereum researcher Justin Drake unveils redesign of the Ethereum Consensus layer - Beam Chain

Polymer Hub mainnet is live

Infura's decentralized infrastructure network launched

Layerzero introduces new data primitive: lzRead

Agora introducing multichain voting

Zoto trading platform live

Atlas network live

Burner: an easy to use, low cost hardware wallet designed for gifting stablecoins

Coinbase introduces Offramp — enable crypto-to-fiat conversions in your app

Hadron by Tether Platform Brings Simplified Asset Tokenization to the Mass Market

Caldera Foundation introduced

Ethereum team lead Péter Szilágyi going on sabbatical

Layer 1 & ## 2 ⛓

Espresso Mainnet is live

Risc Zero Kailua: Giving OP chains 1-hour finality without the higher cost of constant ZK proving

Zerion's 'fee-free' Ethereum Layer 2 ZERO Network goes live

Ethereum Layer 2 Lisk launches mainnet

Multi Proofs live on Taiko mainnet

Caldera introducing Vulcan, Sovereignty-as-a-Service for Ethereum Rollups

Ethereum's ENS Identity System Set to Launch Own Layer-2

DeFi 🏦

Pendle introduces Boros: Yield Trading with Margin

Exponent is live

scrvUSD launched

Ethena risk committee approved Wintermute's ENA fee switch proposal

Split Capital submitted governance proposal for Blur to enable fee switch

ThalaSwap v2

Huma Protocol expands to Solana

First AI optimized Morpho vault aggregator live

A Product Line Approach to Grow Lido’s Staking Ecosystem

Reads 📚

Bitcoin for the Sovereign

A useful framework for understanding stablecoins

Measuring Solana’s Decentralization: Facts and Figures

Hyperliquid - an L1 designed for DeFi at scale

Arthur Hayes — Black or White?

The World Network Opportunity: A Greenfield for Builders

StakeStone $22m funding

Brevis $7.5m seed funding

Tac $6.5m seed funding

Alluvial $4.3m strategic funding

Folks Finance $3.2m strategic funding

MBD $3m pre-seed funding

Pulse $1.8m pre-seed funding ** Utopia Labs acquired by Coinbase

Caldera acquires Hook

Fintek Securities Pte Ltd acquired by Crypto(.)com

smlXL acquired by Dune

Vinter acquired by Kaiko

Attestant acquired by Bitwise

Blocktower acquired by Arca

Anycoin Direct acquired by Finst

Security 🛡

Thala $25.5m exploit recovers $25m following successful hacker negotiation

How kaden found a critical vulnerbaility in Zora's ERC20Z contract

[Radiant RIZ market update](https://x.com/RDNTCapital/status/1857442174222455261https://x.com/ConvexFinance/status/1858511932656861649?t(forward from ****)) What’s next for Polymarket — and prediction markets — after the FBI raid?1

1: https://www.dlnews.com/articles/regulation/what-now-after-polymarket-ceo-raid/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) ‘Razzlekhan’ sentenced to 18 months for Bitfinex heist of 120,000 Bitcoin1

1: https://www.dlnews.com/articles/regulation/razzlekhan-sentenced-to-18-months-for-2016-bitfinex-heist/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) SEC chief Gary Gensler says he’ll resign on Trump’s inauguration1

1: https://www.dlnews.com/articles/regulation/sec-chief-gary-gensler-announces-january-resignation/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Pump.fun removes livestream feature amid reports of shocking videos1

1: https://www.dlnews.com/articles/markets/solana-memecoin-launchpad-removes-livestream-feature/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) A shock suicide on Pump.fun prompted outrage and a shutdown. It was all fake1

1: https://www.dlnews.com/articles/defi/fake-suicide-on-pump-fun-prompted-outrage-and-a-shutdown/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Why Europeans are foaming at the mouth about crypto1

1: https://www.dlnews.com/articles/opinion/why-europeans-are-foaming-at-the-mouth-about-crypto/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) 🏰🦙DL Research and Castle Capital are partnering to apply for the Research Member role in Arbitrum’s Research & Development Collective (ARDC) V2!

📅Timeline: SNAPSHOT VOTE Dec 5–13.

Our proposed scope of work for the first 2 months of the 6 month term:

1️⃣Builder retention & expansion Address gaps by conducting a 'Builder Needs' survey and interview, creating developer profiles, performing competitive benchmarking, and offering strategic recommendations to improve onboarding and incentives.

2️⃣**Ecosystem growth initiatives ** Strengthen Arbitrum’s innovation hub by assessing Retroactive Public Goods Funding (RPGF), proposing an innovation grants framework, prioritising high-impact protocols, and recommending Builder engagement strategies to enhance retention.

3️⃣Orbit Chain interoperability Improve Orbit chain integration through non-technical UX improvements, bridge design analysis, messaging layer solutions, and alignment with Ethereum’s interoperability roadmap to ensure seamless user experiences.

4️⃣Finding Arbitrum’s identity Refine the DAO’s messaging to create alignment across the ecosystem, attract developers and users, and strengthen Arbitrum’s position as a leading Layer 2 solution.

5️⃣ New Sector Mapping and Outreach Expand into high-growth areas beyond DeFi by prioritizing sector analysis, crafting targeted outreach strategies, and creating tailored incentives to drive adoption and innovation.

🦙🏰 ### Why Choose Us? 🦙🏰

Trusted expertise: DL Research excels in turning complex insights into actionable strategies, while Castle has years of hands-on experience with Arbitrum governance and incentive design.

DAO-first approach: Our efforts focus on decentralisation and delivering measurable value for the Arbitrum community.

**Unwavering commitment: **This role is a top priority for both teams, ensuring consistent effort and results.

**A unified vision: **Together, we offer unmatched analyticaldepth and grassroots involvement at a competitive rate.

Every vote brings us closer to delivering actionable insights and unifying the Arbitrum ecosystem. Support our vision at the upcoming snapshot vote!

View our application here: DL Research <> Castle Capital Application1

Let’s shape the future of Arbitrum together! 🚀

1: https://forum.arbitrum.foundation/t/election-application-thread-v2-arbitrum-research-development-collective/27267/19?u=defillama_research(forward from ****) Celsius founder Alex Mashinsky pleads guilty to defrauding investors at ‘never profitable’ crypto lender1

1: https://www.dlnews.com/articles/regulation/former-celsius-ceo-mashinsky-pleads-guilty-to-fraud/?utm_source=telegram&utm_medium=organic_social&utm_campaign=Happy $100.000 BTC✨(forward from ****) Voting is now open for the Research Member role in the Arbitrum Research & Development Collective!

Cast your vote by December 13 to support our proposal1 alongside Castle Capital.

Make your voice count![2]

[2]: https://snapshot.org/#/arbitrumfoundation.eth/proposal/0xfbc7855075da7b93d7c95354e9b2adf848099562afcafa42fa7b7f6fa6e7804bhttps://x.com/odosdao/status/1867300703401914633?t=1(forward from ****) Yield-hungry investors push Ethena’s $5.8bn USDe over rival Dai stablecoin1

1: https://www.dlnews.com/articles/defi/yield-hungry-investors-push-ethenas-58bn-usde-over-rival-dai-stablecoin/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Australia slaps Binance with lawsuit alleging it let retail customers trade risky derivatives1

1: https://www.dlnews.com/articles/regulation/australia-sues-binance-for-exposing-customers-to-risk/?utm_source=telegram&utm_medium=organic_social&utm_campaign=https://x.com/usualmoney/status/1869366984586260557https://x.com/ResupplyFi/status/1869394595882455501?t(forward from ****) Jump Trading crypto subsidiary hit with $123m fine over TerraUSD scandal1

1: https://www.dlnews.com/articles/regulation/jump-trading-crypto-subsidiary-pays-123-million-for-terrausd/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Aave poised to leave Polygon blockchain after $1bn proposal triggers clash1

1: https://www.dlnews.com/articles/defi/aave-poised-to-leave-polygon-blockchain-amid-controversy/?utm_source=telegram&utm_medium=organic_social&utm_campaign=(forward from ****) Solana co-founder allegedly kept millions in staking rewards from ex-wife in ‘acrimonious’ divorce1

1: https://www.dlnews.com/articles/people-culture/solana-cofounder-allegedly-kept-millions-from-ex-wife/?utm_source=telegram&utm_medium=organic_social&utm_campaign=Llama news round-up 23 Dec - 02 Jan🍗 Happy 2025 readers❤️

News 📰

Helius launches startup launchpad

HYPE staking is live on mainnet

Arbitrum Trailblazer, a new $1,000,000 initiative funding AI experimenters

Chainlink's novel non-toxic MEV recapture solution

Synapse unveils Cortex token CX

Monad creating Foundation

Layer 1 & 2⛓️

Boundless, bringing ZK to every chain

Understanding based rollups

DeFi 🏦

f(x) v2.0 is live

Balancer V3 is live

Berachain pre-deposit vaults for Boyco markets by Concrete, Lombard, and Stake Stone

Aerodrome VIRTUAL/cbBTC yield market

Prisma shutdown and transition plan

MEV⚡️

The MEV Letter

Reads 📚

The Fat App Thesis

Noir's Circuit Backend

An Analytical Comparison for Crypto x AI Frameworks

How To Make Cross-Chain Tokens Fungible Again: Part I

Raises 💰

Usual $10m Series A

Avalon $10m Series A

Accountable $2.3m seed raise

Development⚙️

[FOCIL implementation on Prysm](https://x.com/terencechain/status/1874694305086124345(forward from ****)) Do Kwon pleads not guilty to US charges with maximum penalty of 130 years in prison1

1: https://www.dlnews.com/articles/snapshot/do-kwon-pleads-not-guilty-and-faces-130-years-in-prison/?utm_source=telegram&utm_medium=organic_social&utm_campaign=Llama news round-up

News 📰

Dymension 3D live

Synthetix sunsetting Arbitrum focussing on Base

Solayer 2025 roadmap

Solayer Foundation introduced

Perpl - Monad's native pricing engine

Irreducible launches alpha-ready Binius library and Ethereum state proving service

Lazy Chain - new community driven blockchain powered by Astria and Celestia

Iron Fish launching Universal Privacy Layer

Derive Pro in collaboration with Messari, AI powered trading experience

Boyco Update: Announcing Selected dApps and Asset Issuers

Request for Broposal Update: Applications

Solayer acquires Fuzzland

Backpack acquires FTX EU

Layer 1 & 2⛓️

Phala Network launches first OP Succinct L2 on Ethereum

Hyperliquid addressing misconceptions regarding validators

An open letter addressed to Hyperliquid on Validators

Unichain enabled Permissionless Fault Proofs

Holocene upgrade live on Base mainnet

Faster block/blob propagation in Ethereum

Exploring Sophisticated Execution Proposers for Ethereum

The Great VM Evolution

Defragmenting Liquidity with Asynchronous and Synchronous Composability

Beyond Bridges: How zkTLS Makes Crypto Invisible

MegaETH vs Monad vs Hyperliquid

Defining Hardware Requirements For Ethereum Validators

All Core Devs - Consensus (ACDC) #148

DeFi 🏦

Ethena 2025: Convergence

Euler Yield - loop yield-bearing tokens with stables

Morpho Vaults 1.1

Curve's quarterly progress report

Uniswap Foundation's 2024 Community Impact Report

Drift's North Star

An Overview of Arbitrum's DeFi Ecosystem

Morpho Vaults Collateral Risk

Dinero: Staking Redefined

MEV⚡️

[Solana MEV report](https://x.com/0xMert_/status/1877448187981516860### Reads 📚)

Solana Executive Overview

Future of Ethereum (1): Beam Chain

Accelerate L2 Interoperability: Update #0

Intent-Based Architecture and Their Risks

Preconfirmations for the Average Joe

The Era of Provable Software

Exploring a stablecoin bank

A Bitcoin L2 Thesis

Why Prediction Markets Are Broken (And How to Fix Them)

The Bull Case for Blockchain Interoperability in 2025

d/acc: one year later

AI, Crypto, and America.

Internet Finance

Hyperliquid 2024 in Review

Kain "It's still a bull market relax"

Agent Fragmentation: Breaking through the Noise

Raises 💰

SoSoValue $15m Series A

Alpen Labs $8.5m Strategic round

Superseed $4.47M seed round

Startpower $4m funding

Rena Labs 3.3m pre-seed

Ooga Booga $1.5m Strategic Round

Aligned $1m community round

Haedal Seedhttps://x.com/HaedalProtocol/status/## 187515140359084895 7

Sundial Strategic pre-seed

Security 🛡

Solv Protocol Twitter compromised (restored)

Radiant Capital recap of Post-Hack Progress

The State of Crypto Security in 2024