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
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DeFi Explainers
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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
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
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DeFi Explainers
What is Solend?
A Step-by-Step Guide to the Solana-based Lender
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.