Ethereum Devs Delay Surge and Prioritize Staked ETH Withdrawals

News

• Ethereum Devs Opt to Delay Surge and Prioritize Staked ETH Withdrawals
• Gnosis to Execute Its Own Merge in Shift to PoS
• Circle Abandons IPO Plans

Opinion

• Power of Self-Custody is the Takeaway from FTX

Podcast

Video

• Mapping the FTX Contagion: Part 2

DeFi Explainers

• What is Solend?

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News

Ethereum Upgrades

Ethereum Devs Opt to Delay Surge and Prioritize Staked ETH Withdrawals

Ethereum to Set Window for Withdrawals as Shanghai Upgrade Takes Shape

By Samuel Haig

The Surge will have to wait. Ethereum’s developers are prioritizing Beacon Chain withdrawals for the network’s next major upgrade, Shanghai, delaying the implementation of The Surge, the network’s sequel to The Merge, according to the latest Ethereum Consensus Layer call. This marks the first time devs have provided a set window for withdrawals.

Read the full story in The Defiant

Chain Merges

Gnosis to Execute Its Own Merge in Shift to PoS

Layer 1 Will Be the First Blockchain After Ethereum to Adopt New Consensus Mechanism

By Samuel Haig

Gnosis Chain, a Layer 1 network, is poised to become the second blockchain to transition to Proof of Stake consensus via a chain merge.

The upgrade, which is expected to go live on Thursday around 1:40 PM Eastern Time, will unify Gnosis Chain’s Proof of Stake Beacon Chain with its Proof of Authority (PoA) mainnet, abandoning PoA consensus in the process.

Read the full story in The Defiant

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Crypto Deals

Circle Abandons IPO Plans

USDC Issuer Was Valued At $9B In February

By Tarang Khaitan

Circle, the issuer of the USDC stablecoin, has terminated its plan to merge with Concord Acquisition Corp, a publicly traded SPAC, by mutual consent. The company had planned to go public in the fourth quarter through a SPAC deal. The deal was first unveiled in July 2021 and valued the Circle at $4.5B. However, in February 2022, the valuation was revised to $9B.

Read the full story in The Defiant

Defiant Video

Mapping the FTX Contagion: Part 2

Juan Benet is Working to Upgrade the Heart of The Internet with Blockchains

Shoutout

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DeFi Explainers

What is Solend?

A Step-by-Step Guide to the Solana-based Lender

By Rahul Nambiampurath

Solend a decentralized application that enables users to borrow or lend crypto funds. Just like in TradFi, lenders earn interest on their deposits from borrowers. Yet Solend has been the subject of criticism that it isn’t complying with the spirit of DeFi. And the project’s total value locked plunged in November 2022 after the collapse of the FTX exchange.

Read the full explainer in The Defiant