Arbitrum To Remove Its "Training Wheels"
Coinbase's Brian Armstrong Pushes For Clear Crypto Regulations In D.C., Terraform Labs & Do Kwon Settle With SEC for $4.5 Billion
Arbitrum is preparing to transition into a Stage 2 decentralized rollup with the help of the new BOLD dispute protocol.
BOLD (Bounded Liquidity Delay Protocol) is an upgrade to Arbitrum's dispute protocol that will change rules in chain state dispute resolutions. Its goal is to unlock permissionless validation by reducing delay attack risks
Vitalik Buterin and L2Beat refer to the final stage of a rollup "Stage 2 - No Training Wheels", where anyone can validate L2 states and post fraud proofs.
This is in contrast to Arbitrum and others' current situation, where only several validators are allowed to contribute to the overall security.
Buterin says most rollups have "full training wheels" as they're controlled by a security council's multisig.
If approved, Arbitrum would become one of the very first Stage 2 rollups - entities decentralized to their limits.
Delay attacks, where an actor opens disputes and delays resolution indefinitely until they reach a certain goal, is to be tackled by the upgrade.
From here, challenges will have to conclude within a 6.4-day window
ArbitrumDAO members are currently doing a temperature check on whether to advance in becoming a Stage 2 rollup.
Arbitrum's rival Optimism is also working on similar issues, enabling people to withdraw from Optimism L2 without third party interactions.
Market Update
News
Coinbase CEO Pushes for Clear Crypto Regulations in D.C.
Armstrong met with Senators in Washington, D.C., to advocate for clear rules and consumer protection in the crypto sector. This meeting is part of a broader effort to influence regulatory policies amid ongoing tensions with the SEC. The SEC, under Chairman Gary Gensler, has been actively enforcing actions against major crypto entities, including Coinbase. | Read More
Polkadot Parachain Moonbeam Launches $13M Gaming & RWA Fund
The primary focus of this fund is to develop a robust gaming ecosystem on Moonbeam. By supporting projects like N3MUS, Moonbeam aims to merge the worlds of traditional gaming and blockchain technology, creating new opportunities for gamers and developers alike. Moonbeam is also extending its support to other parachain projects within the Polkadot ecosystem. | Read More
Ethereum Layer 2s Surge In Uniswap V2 Pool Creation
One of the most notable impacts of Layer 2 solutions is the significant increase in the creation of Uniswap V2 pools. The surge in Uniswap V2 pools on Layer 2 networks is driven by the ability of these networks to handle more transactions at lower costs. The growing adoption of L2s highlights Ethereum's adaptability and resilience in the face of scalability challenges. | Read More
ICON Network Acquires Bitcoin to Boost Liquidity
ICON's acquisition of Bitcoin is part of a broader strategy to improve liquidity and enable efficient cross-chain transactions. Following its integration with BNB Chain and Arbitrum, ICON can now access Bitcoin through BTCB (Bitcoin BEP2) and wBTC (Wrapped Bitcoin). The goal is to create a unified cross-chain BTC/bnUSD trading pool. | Read More
Terraform Labs, Do Kwon Settle with SEC for $4.5 Billion
Terraform Labs and Do Kwon have agreed to pay a combined total of $4.5 billion to the SEC. This amount includes disgorgement, prejudgment interest, and civil penalties. Disgorgement refers to the repayment of ill-gotten gains, while prejudgment interest is the interest on those gains from the time they were obtained until the settlement. | Read More