Ethereum’s Dencun Upgrade, Meme Coin Mania, and EigenLayer's Innovation!
This Week on Unchained: Don't miss the interviews Jesse Pollack from Base and Sreeram Kannan together with Olaf Carlson-Wee.
Ethereum’s long-awaited Dencun upgrade finally went live this week, and many layer 2s immediately saw their transaction fees fall dramatically, as was the intention. Among them was the Coinbase-incubated Base, which was created by Jesse Pollak. Pollak joined Unchained to discuss the impact Dencun was having on Base; how he thinks layer 1s and layer 2s will start to differ from one another and eventually spawn a multitude of specialized layer 3s, his response to criticisms of the increasing use of layer 2s, what he’s focusing on now, and why he supports using the word “onchain” over “crypto” or “web3.”
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. In this weeks episode the squad asks: Is MakerDAO setting a new precedent for DeFi protocols with its emergency rate hike? How significant is the role of meme coins in the crypto market’s volatility, and what does Solana’s prominence tell us about the future of blockchain platforms? Can Ethereum maintain its position as the backbone of DeFi amidst the growing competition from layer 1 and layer 2 solutions?
This episode delves deep into the whirlwind discussions surrounding MakerDAO’s sudden monetary policy adjustments, scrutinizing the balance between stability and adaptability in DeFi’s fast-paced world. We explore the fascinating, yet often speculative, universe of meme coins, highlighting their impact on network activity and public perception of cryptocurrency’s value. The conversation also navigates the evolving landscape of Ethereum as it faces challenges and opportunities in scalability and functionality. Join us as we tackle these thought-provoking questions, armed with Robert Leshner’s expertise, to peel back the layers of complexity surrounding DeFi strategies, the meme coin craze, and Ethereum’s strategic positioning. Tune in for a captivating session aimed at decoding these trends and offering insights into their potential to redefine the contours of the crypto ecosystem.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
Sreeram Kannan, founder of EigenLayer, and Olaf Carlson-Wee, founder and CIO of Polychain Capital, an investor in EigenLayer, say that the developer ecosystem around EigenLayer is sprouting up very fast, which reminds Carlson-Wee of the developer excitement in Ethereum’s early days.
They discuss the potential of EigenLayer, which uses a restaking mechanism to allow ETH stakers to reallocate their staked ETH and Liquid Staking Tokens (LSTs) to bolster security for other protocols. They cover how it could turbocharge Ethereum’s rollup scaling roadmap and enable Ethereum to become a stack of decentralized software as a service providers. Additionally, they discuss the potential risks associated with restaking as well as how EigenLayer could work with AI.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
In Case You Missed It 👀
Here are some of the most important news of this week:
How Much Will the Dencun Upgrade Really Reduce Ethereum Layer 2 Fees By?
Ethereum’s Dencun upgrade is scheduled for this week and is set to reduce fees on layer 2s by at least 10 times, if not more.
Why the SEC Might Reject Spot Ether ETFs
After the approval of spot bitcoin ETFs, many crypto watchers expected spot ether ETFs to be approved at the time of the May deadline. But the current outlook is cloudier, leading to speculation about why the U.S. Securities and Exchange Commission (SEC) might deny the spot ether ETFs.
MicroStrategy Purchases 12,000 More Bitcoins for $822 Million
The publicly traded software firm MicroStrategy, which is founded by Bitcoin maximalist Michael Saylor, has purchased nearly $1 billion in bitcoin since mid-February.
MetaMask Tests Onchain Card on Mastercard Payment Network: Report
Crypto wallet MetaMask has reportedly teamed up with Mastercard to test an entirely blockchain-based payment card issued by Baanx.
Binance Former CEO CZ to Surrender Passport Under Modified Bail Bond
Former Binance CEO Changpeng Zhao will have to notify pretrial services before any interstate travel within the US in addition to surrendering his passport to a third-party custodian.
Grayscale Files to Spin Off Lower-Fee ‘Bitcoin Mini Trust’ From GBTC
The new offering from Grayscale will trade under the $BTC ticker and the distributions will not trigger a capital gains tax.
Crypto Enthusiasts Raise Nearly $690,000 to Put Dogwifhat Meme on Las Vegas Sphere
Crypto enthusiasts have raised funds to display a picture of a Shiba Inu puppy wearing a pink beanie, representing the meme coin Dogwifhat, on the world’s largest spherical structure in Las Vegas.
Dencun Day One: Ethereum Layer 2 Networks See Drastic Drop in Transaction Fees
Some Ethereum layer 2 networks have seen their median transaction fees decline by as much as 99% after the Dencun upgrade went live.
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What Is Optimism Superchain And Why Is it Popular for Projects?
What Is EigenLayer? A Guide to the Decentralized ETH Restaking Protocol
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