Missing Multichain CEO Is Causing Ripples Across the Industry

Developers Aim To Bring New DeFi Strategies To $17B Liquid Staking Market

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The Merge Won’t Drive Big Scalability Gains For Ethereum, But EIP-4844 Might

Synthetix Community Considers Ditching Inflationary Tokenomics

Stargate’s STG Token Surges Ahead Of FTX Listing

Rocket Pool To Incentivize rETH Liquidity

How Maker and Frax Are The Diplomats of DeFi

Esports joins the block & how to produce The Degen Trilogy

SEC Delays VanEck’s Bitcoin ETF Decision Another 45 Days: Decrypt

Singapore Steps Up Crypto Questioning as Firms Brace for Changes: Bloomberg

Japan Looks at Corporate Crypto Tax Breaks to Entice Startups: CoinDesk

Record Low Burn Rate Threatens Ethereum’s Deflationary Narrative

Coinbase Launches cbETH Liquid Staking Token

Tornado Cash Developer Pertsev Remanded For 90 Days

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Proto-Danksharding Could Boost Throughput Of Layer 2 Rollups By 100x

All eyes may be on Ethereum’s forthcoming transition to Proof-of-Stake consensus, but there is a lesser-known upgrade that’s set to cut Ethereum’s transaction costs, improving scalability – unlike the so-called Merge.

EIP-4844 upgrade is set to introduce ‘proto-danksharding’ alongside the next Ethereum fork following The Merge, which is tipped to boost the scalability of Layer 2 rollups by up to 100 times while paving the way for full sharding to be implemented.

This is key, as Ethereum’s current roadmap is banking the network’s burgeoning Layer 2 ecosystem will handle scalability and fee mitigation, until sharding is implemented further down the track. Sharding will split Ethereum’s computational load across an ecosystem of small chains working in parallel, with Layer 2 chains expected to become the network’s shards in the future.

, simple token transfers cost roughly $0.1 on Ethereum’s leading rollup networks, with swaps estimated at around $0.15. But this isn’t good enough, says 

, Ethereum’s co-founder and chief scientist, who tweeted in May that transaction fees on L2 must be below $0.05 “to be truly acceptable.”

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Proposal Calls For Capping SNX Supply At 300M Tokens

 On Aug. 25, Kain Warwick, the founder of Synthetix, published a 

 advocating for capping the SNX supply at 300M tokens in two and a half months.“Inflation was intended to bootstrap the network, it has done this extremely effectively,” the proposal said.

“Now that fee yield from atomic swaps and perps is meaningful and growing it is time to wind down inflation.”

Synthetix is currently the 24th-largest protocol with more than $522M locked in its smart contracts, according to DeFi Llama. It has recently found success on the Layer 2 Optimism network, emerging as the second largest protocol on the chain. But its SNX token has taken a beating since early 2021, slumping 89% since tagging an all-time high of $28.5 during February of last year, according to 

The Cross-Chain Protocol’s TVL Is Up 60% In A Week

The cross-chain protocol held an auction for its STG token on Mar. 17, only to have trading firm Alameda Research, buy all 100M of them in the very first block, as confirmed by then-CEO, 

This prompted the project to initiate another sale of 

 on Mar. 30 in order to distribute the token to the broader community.

A day after the second auction, the token pumped to an all-time high of $4.14 on Apr. 1, but a month later, it was trading at $0.95. STG proceeded to slowly dwindle to an all-time low of $0.33 on Aug. 18.

Nine-Member Team Will Be Tasked With Crafting RPL Incentives

The community behind Rocket Pool, the second-largest Ethereum liquid staking protocol, is rallying to increase traction for the project’s staked ETH token in a bid to narrow the gap with Lido, the liquid staking leader.

In an overwhelming show of support Wednesday, holders of Rocket Pool’s governance token, RPL, voted to approve a new incentive committee’s 

The nine-member team will be tasked with boosting rETH liquidity. Rocket Pool allows users to stake ETH in Ethereum’s proof-of-stake Beacon chain in exchange for a token – rETH – representing that deposit.

All three proposals passed with at least 98% of votes in favor.

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A Step-by-Step Guide to a Decentralized Web

Hello Defiers! Here’s what we’re covering today:

News

The Merge Won’t Drive Big Scalability Gains For Ethereum, But EIP-4844 Might

Synthetix Community Considers Ditching Inflationary Tokenomics

Stargate’s STG Token Surges Ahead Of FTX Listing

Rocket P...

👀 The Merge Won’t Drive Big Scalability Gains For Ethereum, But EIP-4844 Might