-
Aave launches a custom EtherFi pool.
-
Scroll will power EtherFi’s credit card.
-
ENS Labs releases an update for ENSv2.
-
Tim Beiko announces EF Protocol Support hires.
https://zora.co/collect/base:0x6dbf6c2e46295f07012c7fab332a0ae34c98f1be/548
Aave governance deployed a custom EtherFi weETH pool instance on Aave V3, allowing users to borrow stablecoins such as USDC, PayPal USD, and FRAX against weETH collateral on Ethereum mainnet. The deployment marks Aave’s second custom market, following last month’s introduction of the Aave V3 Lido market. The custom market enables the Aave DAO to adjust collateralization and interest rate parameters specifically tailored to the isolated market. It supports leverage looping, e-mode, and an isolated market structure, reducing cross-collateral risks from other tokens. The launch aims to enhance liquidity, optimize borrowing, and contribute to Aave’s TVL.
EtherFi announced that it will leverage Scroll’s EVM-equivalent ZK Rollup to settle transactions for EtherFi Cash, its new credit card product. The solution allows users to spend and borrow against their EtherFi restaking balances. EtherFi Cash is comprised of a mobile wallet linked to a Visa credit card. Users can either borrow USDC against their EtherFi assets or convert their assets directly into USDC for spending. Visa cards for EtherFi Cash are expected to begin shipping later this month. Currently, EtherFi holds over $5.6 billion in total value locked (TVL), nearly five times that of Scroll, which has $1.1 billion in TVL.
ENS Labs released an update on ENSv2, an upcoming protocol upgrade that will extend the naming service to Layer 2. The team has identified six key criteria for the launch, including EVM compatibility, CCIP-read support, open-source development, the ability to exit to Layer 1, sequencer decentralization, and finality. Currently, there are three potential paths for the L2 expansion: deploying ENS on an existing ZK chain, launching its own instance of a ZK chain using an existing tech stack, or developing a custom zkVM rollup. ENS Labs has ruled out optimistic rollups but is still open to hybrid optimistic and ZK rollup solutions. It is now focused on benchmark testing and seeking funds from the ENS DAO.
Tim Beiko, lead of the ACD calls, announced the Ethereum Foundation’s latest Protocol Support hires: Nixo from Ethstaker and Sophia Gold. Both will assist in managing network upgrades, AllCoreDevs calls, the Ethereum Protocol Fellowship, and the Summer of Protocols programs. The new roles will help expand the Protocol Support team’s capacity to launch new initiatives.
Users can now borrow USDC, PayPal USD, and FRAX against weETH collateral on the custom Aave V3 market.
ETH Daily
1 min read·
