1. Uniswap v4 Expected to Go Live after Ethereum’s Cancun Upgrade and Security Audits link

On July 6th, the Uniswap Foundation shared detailed information about the timeline for the upcoming release of Uniswap v4. Erin Koen, the governance lead at the Uniswap Foundation, posted on the Uniswap governance forum stating that the release is expected to take place within the next four months. The specific timeline will depend on the successful implementation of the upcoming Ethereum network upgrade known as the “Cancun” hard fork and the finalization of the comprehensive auditing process.

2. Blur Announces Launch of Blur v2 link

On July 6th, Blur V2 was announced with two significant updates. Firstly, there is a 50% reduction in gas fees for transactions, making them more cost-effective. Secondly, the introduction of “Trait bidding” allows users to bid on desired traits within Punks, Degods, Milady’s, and other nine collections to earn additional points. Additionally, with the current gas prices, purchasing each NFT on Blur v2 can save $16.

3. Arbitrum DAO Approves Proposal to Lock 700 Million ARB Tokens in the Treasury Contract link

On July 7th, the Arbitrum DAO approved an improvement proposal (AIP 1.1) to lock 700 million ARB tokens, worth $770 million, in the vesting contract, gradually releasing the funds to the Arbitrum Foundation over a period of four years. The initial proposal of directly allocating over 700 million ARB tokens to the Arbitrum Foundation faced strong opposition from the community. The Foundation stated that these funds will be utilized to support initiatives based on the Arbitrum technology.

4. Grayscale Adds LDO to its DeFi Fund link

On July 8th, Grayscale added the Lido (LDO) token from the Lido protocol to its DeFi Fund, making it the second-largest holding by weight. Grayscale adjusted the portfolio of its DeFi Fund, with the current weightings as follows: Uniswap (UNI) at 45.46%, Lido (LDO) at 19.04%, Aave (AAVE) at 11.53%, MakerDAO (MKR) at 10.82%, Curve DAO Token (CRV) at 7.03%, and Synthetix (SNX) at 6.12%.

5. Pledge Infrastructure ssv.network Releases Mainnet Launch Schedule link

On July 4th, the staking infrastructure ssv.network released its mainnet launch roadmap, which consists of four phases: pre-launch, limited launch, launch, and permissionless launch. The first phase is set to begin in the early second quarter of 2023, and by the fourth quarter of 2023, the network will be ready for a fully permissionless release.

6. MakerDAO’s Weekly Summary link

a. MakerDAO Community Releases Proposal Introducing Smart Burn Engine link

On July 3rd, the MakerDAO community introduced a proposal called the Smart Burn Engine, which aims to distribute surplus DAI from Maker’s Surplus buffer that has not been used as an emergency reserve. The proposal has not been voted on or executed yet. The specific parameters of the proposal include changing the cap of the treasury from 250 million DAI to 50 million DAI, and using the excess DAI to buy MKR to create liquidity in the MKR-DAI pool. Currently, the treasury holds 71 million USD worth of DAI. According to the proposed plan, 10.5 million USD should be used to buy MKR, and another 10.5 million DAI should be paired with it to create a liquidity pool. It is expected to generate around 200,000 DAI in daily income, which could also be a part of the liquidity pool.

b. MakerDAO: Lending Protocol Spark Protocol to Expand to Multiple Chains link

On July 5th, MakerDAO announced that its lending protocol, Spark Protocol, will be expanded to support multiple chains. They also shared the steps and procedures for deploying Spark Protocol in specific domains, referring to various blockchain networks. In May, MakerDAO had announced the launch of Spark Protocol, which focuses on lending with DAI as the primary cryptocurrency asset.

7. Azuki’s Weekly Summary

a. Proposal to Sue Founder Zagabond by AzukiDAO has Passed link

On July 2nd, AzukiDAO initiated a proposal titled “Hire a Lawyer to Help the Community Recover 20,000 ETH from Zagabond.” The proposal includes the following actions: hiring a lawyer to file a lawsuit against Zagabond, the founder of the Azuki project, accusing them of misconduct; demanding the recovery of 20,000 ETH from the Azuki team and allocating it for community development and rewards; providing funds from AzukiDAO to 20000E DAO and establishing a litigation research team. AzukiDAO and 20000E DAO are established by former Azuki community members and holders. On July 3rd, the proposal was voted and passed with a support rate of 88.35%.

b. AzukiDao’s Governance Token Contract (BEAN) Attacked Due to Contract Vulnerability link

On July 3rd, the governance token contract (bean) of AzukiDao was subjected to an attack due to a vulnerability in the contract. Two attackers exploited the loophole and gained profits of 35 ETH. The main reason behind this incident was the failure to properly check the variable “signatureClaimed” in the contract, which led to a replay attack. As a result, the contract has now been temporarily suspended.

On the same day, AzukiDAO responded to the incident through a tweet, confirming its occurrence. They announced the closure of the redemption window and expressed their decision to propose a transfer of all tokens to the DAO treasury. Subsequently, the community will select multiple signatories as contributors.

8. Loopring L3 Officially Launches on Taiko Alpha-3 zkEVM Testnet link

On July 4th, according to the official announcement from Loopring, the Loopring L3 version has been officially launched on the Taiko Alpha-3 zkEVM testnet. The L3 version incorporates a specific layer for DeFi and NFT applications, aiming to enhance user experience by reducing costs. Additionally, the L3 smart contract wallet supports exchange and transfer functionalities and has been released on both iOS and Android platforms.

9. Binance Launchpool Introduces the 35th Project, Pendle link

On July 3rd, Binance announced the launch of the 35th project, Pendle (PENDLE), on the Binance Launchpool. Users can start mining Pendle (PENDLE) rewards using BNB and TUSD on July 4th at 8:00 AM (GMT+8), with a total mining duration of 25 days. Pendle (PENDLE) is a yield trading protocol, and the $PENDLE token was listed on the Binance Innovation Zone on July 3rd at 6:00 PM (GMT+8).

10. SEC Investigating Barnbridge DAO and Individuals Associated with DAO link

On July 7th, Barnbridge DAO, a cross-platform protocol for layered derivatives, announced on Twitter that it is being investigated by the U.S. Securities and Exchange Commission (SEC) along with individuals associated with the DAO. Their legal counsel advised them to halt all product operations, cease payments to individuals, and shut down existing liquidity pools in order to mitigate potential legal liabilities. Barnbridge DAO has previously received investments from Fourth Revolution Capital, ParaFi Capital, Kain Warwick (founder of Synthetix), and Stani Kulechov (founder of Aave). Currently, Barnbridge has approximately $1.2 million in Total Value Locked (TVL), with its main asset being DAI.

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