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ICYMI: Check retired past month’s post, which dives into the restaking marketplace and what the aboriginal of ETH output products mightiness look like.
Ethereum fees person been higher than mean the past fewer weeks. According to ultra dependable money, fees person averaged 59 gwei implicit the past 30 days and 108 gwei implicit the past week versus an mean of 24.7 gwei since The Merge past September. The illustration supra from Coin Metrics’ latest “State of the Network” besides highlights the caller summation successful Bitcoin fees, caused by the occurrence of ordinals and the BRC-20 standard (imitation is the highest signifier of flattery).
On Ethereum, precocious state fees are from the surging $PEPE memecoin (like Doge oregon Shibu but Pepe instead). This has led to the highest state expenditure (in ETH terms) from Uniswap since May 2021:
The biggest state guzzler of the past fewer weeks is the mysterious jaredfromsubway.eth MEV bot, whose sanction is simply a notation to its dense usage of sandwich attacks to unsuspecting users. Flashbots Bert Miller’s tweet supra is 1 successful a longer thread looking astatine jaredfromsubway.eth’s on-chain activity. It has been peculiarly progressive successful the PEPE trading frenzy.
EigenPhi estimated that jaredfromsubway.eth has raked successful implicit $7m successful nett since April 17. EigenPhi’s newsletter had 2 posts this week focused connected jaredfromsubway.eth, 1 connected data from its trades (including a illustration that shows 60% of Ethereum blocks since April 17 person had a transaction from jaredfromsubway.eth) and the different detailing the travel of transaction ordering.
Rick protocol Cozy launches v2 connected Optimism Link
Spark Protocol launches connected Maker Protocol, offering enhanced features Link
Blend launches Blur, an oracle-free NFT lending level Link
Synthetix perps spot $4bn successful measurement implicit 7 weeks Link
Arbitrum DAO receives 3.4k ETH ($6m) from sequencer gross Link
Curve to redeploy crvUSD stablecoin aft 'mistake successful deployment script' Link
Rune unveils 5 phases of Maker extremity crippled Link
GFX Labs makes different propulsion to crook connected Uniswap protocol fees Link
The definitive usher to [rollup] sequencing [James Prestwich]
The aboriginal of MEV: Smoothing vs. burning vs. sharing [Joules Barragan/Blocknative]
Solana’s deficiency of liquid staking hinders its DeFi ecosystem improvement [Anders/MarginFi]
ETH flows aft the Shapella upgrade [Kunal Goel/Messari]
CoW Protocol sees an bid of magnitude little of sandwich trades compared to different DEXs [EigenPhi]
The mode protocol gross & token mints are spent successful Cosmos is breached [Noam Cohen/Binary Builders]
Time, slots, and the ordering of events successful Ethereum Proof-of-Stake [Georgios Konstantopoulos & Mike Neuder/Paradigm]
That’s it! Feedback appreciated. Just deed reply. Written successful a rainy Nashville. Grateful for my parent and my baby’s mama.
Dose of DeFi is written by Chris Powers, with assistance from Denis Suslov and Financial Content Lab. All contented is for informational purposes and is not intended arsenic concern advice.
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