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zkSync, an Ethereum Layer-2 network, has achieved a pivotal milestone in its journey towards decentralization with the upcoming release of its final protocol upgrade, v24. This significant update is poised to transfer network governance to the community, signaling the culmination of zkSyncs decentralization process and potentially heralding the launch of a governance token.

Since incorporating EIP-4844 in March, zkSync has been steadfast in its pursuit of full decentralization. The impending v24 release represents the last essential upgrade required for this transition. The company anticipates completing all remaining steps by the end of June. This meticulous process demands careful consideration of both technological and legal frameworks, as zkSync prioritizes long-term technological development over immediate gains. The aim is to establish itself as a pivotal player in the blockchain industry, driving the advent of a verifiable internet era that can serve billions of users.

The announcement of the v24 upgrade has ignited speculation regarding a possible token launch. zkSync has hinted at an upcoming governance token airdrop slated for the end of June. This potential airdrop has been eagerly anticipated since last year when investors moved over $8 million worth of tokens to zkSync, hoping to qualify.

Currently, the total value locked (TVL) in zkSync is $141 million, according to DefiLlama. In a recent post on the X platform, zkSync confirmed that the v24 release will be the final protocol upgrade before transferring network governance to the community, with the remaining components expected to be completed by the end of June.

zkSync, which specializes in zero-knowledge (ZK) rollup technology, aims to scale Ethereum by facilitating cheaper transactions through off-chain computation and data storage. This Layer-2 network leverages zero-knowledge cryptography, a cutting-edge advancement in blockchain technology.

The issuance of a governance token is viewed as the next logical step following a series of airdrops from projects like EigenLayer, Renzo, Ethena, and Wormhole, which have chosen to reward early adopters instead of conducting traditional token sales. This strategy is designed to cultivate a sense of loyalty and involvement within the community.

Matter Labs, the company behind zkSync, has secured $458 million from investors including Blockchain Capital and Dragonfly Capital. This financial support is intended to bolster zkSyncs mission to develop scalable and efficient blockchain solutions. In April, Circle, a major stablecoin issuer, extended support for its USD Coin (USDC) to Ethereums zkSync.

This integration allows USDC to be utilized on a scalable platform, enhancing its application across various decentralized finance (DeFi) protocols. USDC on zkSync remains redeemable on a one-to-one basis for U.S. dollars through Circle and can be transferred across chains via cross-chain bridges.

zkSync has recently exceeded Ethereum in monthly transaction volume, processing over 35 million transactions in the last 30 days, compared to Ethereums 34.2 million and Arbitrum Ones 31.4 million. This surge in activity is largely driven by the growing popularity of zkSyncs inscriptions, which witnessed a record 5.3 million transactions in a single day following the launch of its sync inscription. This increase in transaction volume has occasionally led to network congestion, highlighting both the demand for zkSyncs services and the challenges of scaling.

Furthermore, the total value locked (TVL) in zkSync has surpassed $500 million, marking a 12% increase in just one week. This significant rise in TVL underscores the networks growing popularity and the confidence investors have in zkSyncs scaling solutions. The networks capability to handle high transaction volumes and its expanding ecosystem of decentralized applications position zkSync as a leading Ethereum Layer-2 solution.

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zkSync Unveils Final Protocol Upgrade in Anticipation of Token Launch - Coinfomania

This initiative aims to enhance decentralization, reflecting the original vision of DAI.

Rune Christensen, CEO and co-founder of MakerDAO, announced plans for dual stablecoins, PureDai and NewStable in arecent post on X, which aims to replace the current stablecoin DAI. This move is described as a "return to the ideological roots of DAI," highlighting increased decentralization.

PureDai is an upcoming stablecoin from MakerDAO that will be designed to operate exclusively on the Ethereum mainnet. Unlike its predecessor, DAI, which relies on a mix of centralized and decentralized collateral, PureDai will use only decentralized assets like Ethereum (ETH) and staked Ether (stETH) as collateral.

This shift aims to enhance the stability and trustworthiness of the ecosystem by eliminating centralized dependencies.

A notable feature of PureDai is its reliance on decentralized oracles for price feeds, ensuring that no single entity can manipulate its value.

Additionally, PureDai will have a free-floating peg, meaning it may not be directly tied to the US dollar. This approach allows for a more decentralized and resilient stablecoin, catering to users who prioritize decentralization over fiat stability.

According to the MakerDAO co-founder, PureDai will be released in its final, immutable form after a few years.

Once PureDai is available, DAI holders will have the option to upgrade to this new stablecoin. Christensen stated that this transition aligns with MakerDAOs commitment to decentralization.

The existing DAI will eventually phase out as users migrate to either PureDai or another new stablecoin, NewStable.

NewStable is another upcoming stablecoin from MakerDAO, designed to be a straightforward upgrade to the current DAI.

With a focus on growth, yield, and resilience, NewStable will be the primary successor to DAI. Rune said the decentralized stablecoin would be created with utility and adoption in mind.

Most Dai use cases will be succeeded by NewStable, which will focus on mass market adoption and regulatorily compliant Real-World Asset (RWA) backing, with decentralization used as a powerful tool to ensure transparency, resilience, and checks and balances, Rune Christensen said.

Furthermore, NewStable will incorporate a freeze function similar to those found in other major stablecoins backed by RWA.

Unlike PureDai, NewStable will maintain a traditional USD peg and comply with regulatory requirements concerning real-world assets.

This dual-path strategy will reportedly offer users a choice between complete decentralization with PureDai or a regulated, fiat-pegged option with NewStable.

Christensen expects that, over several years, all users and integrations will transition to either PureDai or NewStable. The original DAI will be fully deprecated once this migration is complete.

In addition to the changes to DAI, Christensen provided insights into the future of MKR, MakerDAOs governance token.

MKR holders will have the opportunity to upgrade to a new governance token, NewGovToken, at a ratio of 1:24,000. This transition aims to align the governance structure with the new stablecoin projects and ensure continued community involvement.

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What is MakerDAO's Upcoming PureDai and NewStable? - BSC NEWS

In this week's interview Hasu from Flashbots and Vasiliy from Lido DAO discuss the current state of Ethereum's issuance and staking dynamics post-merge. They explore the potential impact of institutional demand, solo staking, and restaking on the validator set and issuance policy. The conversation also touches on the evolving role of liquid staking derivatives like stETH and how Lido plans to adapt its strategy as more activity moves to Layer 2 rollups. Thanks for tuning in!

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Marinade is the leading Solana staking service that spreads your stake across 100+ top validators, distributes MEV rewards, and provides automatic downside protection with new Protected Staking Rewards.

Choose to liquid stake for mSOL for use in DeFi, or delegate your stake through Marinade Native, which gives you full custody of your SOL and no smart contract risk. Max performance for you, max performance for Solana.

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Timestamps:

(0:00) Introduction

(2:32) State of Eth Issuance

(17:54) Wormhole Ad

(18:33) Pear Ad

(18:58) Marinade Ad

(19:37) Avalanche Ad

(20:19) Institutional Lido Demand

(27:02) Changing ETH Issuance Curve

(42:17) ETH Native Liquidity

(47:24) Impact of ETH Restaking

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Check out Blockworks Research today! Research, data, governance, tokenomics, and models now, all in one place

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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.

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0xResearch Podcast: Ethereum's Staking Debate: Decentralization vs. Security vs. Yield | Hasu & Vasiliy - Blockworks

The European Union's Common Agricultural Policy (CAP) has been under intense scrutiny, with critics scrutinizing its rigidity and centralized approach. As the debate intensifies, voices from various quarters, including farmers and politicians, are calling for significant reforms to better align with the EUfood security goals and economic growth.

Politicians, such as Axinia Adrian Vice-President of the Alliance for the Union of Romanians (AUR), (pictured) argue that the current CAP undermines the fundamental principles of national sovereignty, self-determination and individual responsibility. Axinia stresses that the current approach imposed by the EU stifles innovation and hampers the ability of member states to tailor agricultural policies to necessary specifications, unique agricultural landscapes, climates, and traditions. Axinia emphasized the importance of allowing member states greater autonomy in shaping their agricultural policies to promote sustainability and economic growth, stating:

We believe that a one-size-fits-all approach imposed by the EU is not conducive to sustainable agricultural practices or economic growth. So far in Romania, the CAP has failed to help farmers develop their irrigation systems and to protect small, family-owned farms and keep them competitive in the single market.

Axinia makes it clear that the current CAP disproportionately benefits large agribusinesses over smaller, family-owned farms. Emphasising the necessity to reform agricultural subsidies to prioritize small and medium-sized farms, which contribute significantly to local economies, and support vibrant rural communities.

Events over the last few years have demonstrated a need for protectionist approaches to trade policy in safeguarding European farmers from amoral competition. Axinia states that: Tailored policies that support the strengths of each Member State can lead to a more efficient allocation of resources and a stronger agricultural sector overall, benefiting both farmers and consumers. By prioritizing domestic agricultural production, the EU could enhance food security, mitigate climate change, preserve biodiversity, and support local EU farmers. The AUR's stance aligns with a far broader and rapidly growing call for partial decentralization and flexibility within the CAP. Many have implored for the empowering of member states to best serve their agricultural sectors and citizens,

As the European Union continues to navigate these challenges, voices like those of Axinia Adrian, who advocate for a more decentralized and flexible approach to agricultural policy are rising, The EU must continue to listen to these growing concerns to successfully pave the way for brighter and more sustainable European agriculture.

Material made upon request of S.C. Oracle Consulting S.R.L. at the request of the Alliance for the Union of Romanians Party - AUR Alliance, CMF 21240330.

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Reimagining the European Union's Agricultural Policy: A Call for Decentralization - EU Reporter

Decentralized exchanges (DEXs) have emerged as a crucial component of the decentralized finance (DeFi) ecosystem, offering users the ability to trade cryptocurrencies in a decentralized and non-custodial manner.

Unlike traditional centralized exchanges, DEXs operate on blockchain technology, allowing users to trade directly from their wallets without the need for a middleman.

This article explores the evolution, key features, advantages, challenges, and future trends of DEXs in the rapidly evolving DeFi landscape. One of the most significant features is decentralization itself, which means that DEXs operate without a central authority or intermediary.

This ensures that users retain full control over their funds at all times. For further insights into the evolution, advantages, and challenges of decentralized exchanges (DEXs) in the DeFi landscape, visit https://bitql.cloud/ to delve deeper into this transformative aspect of cryptocurrency trading.

The concept of decentralized exchanges can be traced back to the early days of cryptocurrency trading. Platforms like EtherDelta and IDEX were among the first to offer decentralized trading services, allowing users to trade Ethereum-based tokens directly from their wallets.

However, these early DEXs faced challenges such as low liquidity and user experience issues.

The introduction of automated market makers (AMMs) revolutionized the DEX landscape. Uniswap, launched in 2018, pioneered the use of AMMs, which use smart contracts to automatically facilitate trades based on predefined algorithms.

This innovation significantly improved liquidity on DEXs and paved the way for the explosive growth of decentralized trading.

Decentralized exchanges offer several key features that set them apart from their centralized counterparts. One of the most significant features is decentralization itself, which means that DEXs operate without a central authority or intermediary.

This ensures that users retain full control over their funds at all times.

Another important feature of DEXs is non-custodial trading, which means that users trade directly from their wallets without depositing funds into the exchange. This eliminates the risk of funds being lost or stolen due to exchange hacks or insolvency.

DEXs also offer permissionless listing and trading pairs, allowing anyone to list a new token or create a trading pair without needing approval from a central authority. This fosters innovation and ensures a diverse range of trading options for users.

DEXs offer several advantages over centralized exchanges. One of the most significant advantages is the removal of intermediaries, which reduces trading fees and ensures that users get the best possible prices for their trades.

This is especially important in the cryptocurrency market, where fees on centralized exchanges can be high.

Decentralized exchanges also offer enhanced privacy and security for users. Since trades are executed directly from wallets, there is no need to trust a third party with sensitive information. This reduces the risk of hacks and ensures that users personal data remains private.

Additionally, DEXs provide access to a wide range of tokens and trading pairs, including many that are not available on centralized exchanges. This allows users to access new investment opportunities and diversify their portfolios.

Despite their advantages, DEXs also face several challenges and risks. One of the main challenges is impermanent loss, which occurs when the value of tokens in a liquidity pool changes relative to each other. This can result in liquidity providers losing out compared to holding the tokens.

Regulatory concerns and compliance issues are also a challenge for DEXs. Many jurisdictions are still grappling with how to regulate decentralized exchanges, leading to uncertainty for operators and users alike.

User experience and scalability are also significant challenges for DEXs. The decentralized nature of these exchanges can lead to slower transaction times and higher gas fees during periods of high demand.

Improving scalability while maintaining decentralization remains a key challenge for the industry.

Despite these challenges, the future looks bright for decentralized exchanges. Several innovations are underway to address these challenges and improve the overall user experience.

Layer 2 solutions, such as zkRollups and Optimistic Rollups, aim to improve scalability and reduce transaction costs on DEXs.

Integration of cross-chain trading capabilities is also a significant trend in the DEX space. Platforms like Thorchain and Polkadot are working on enabling users to trade assets across different blockchains seamlessly. This will further enhance the interoperability and utility of DEXs.

The growth of decentralized finance (DeFi) ecosystems around DEXs is another key trend. DeFi projects are increasingly integrating with DEXs to offer users a wide range of financial services, including lending, borrowing, and derivatives trading, all without the need for a centralized intermediary.

Decentralized exchanges have emerged as a critical component of the DeFi ecosystem, offering users a decentralized, non-custodial, and secure way to trade cryptocurrencies. Despite facing challenges such as impermanent loss and regulatory uncertainty, the future looks promising for DEXs.

Innovations in scalability and cross-chain interoperability are expected to further drive the growth of DEXs and enhance their utility in the cryptocurrency landscape.

As the DeFi space continues to evolve, DEXs are likely to play an increasingly important role in shaping the future of finance.

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The Rise of Decentralized Exchanges (DEXs) in DeFi - Robotics and Automation News