EthLabs: Advancing hiring, fundraising, and asynchronous cross-chain interoperability based on ZooKeeper technology.
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EthLabs released its "Week2" update report, highlighting progress on Ethereum interoperability, PropAMMs, and funding.
According to Mars Finance, on July 6th, Barnabé Monnot (barnabé.eth), founder of EthLabs, released a "Week 2" update, summarizing the team's latest progress and ecosystem discussions during the launch and fundraising phases. Regarding interoperability, the team stated they are increasing their confidence in "asynchronous interoperability based on zero-knowledge proofs (zk)," believing this will help build more secure cross-chain bridges and improve the native distribution capabilities of assets across Ethereum's multi-layered network. Currently, some cross-chain paths still suffer from latency issues, especially in the L2→L1 direction; in this context, the intents mechanism can serve as a transitional solution, while sufficient L1 liquidity also helps match cross-chain solvers. Meanwhile, the L1→L2 path is expected to significantly reduce confirmation latency through the Fast Confirmation Rule (FCR), and some clients have already begun integrating this mechanism. In terms of ecosystem discussions, PropAMMs (proposal-based AMMs) have recently become a focus of attention for many teams and researchers, primarily due to their potential optimization space between L1 execution efficiency and transaction building. Meanwhile, ENS is emphasized as a "critical infrastructure for Ethereum," and the team continues to communicate with relevant stakeholders to advance its development direction. Regarding team building, Ethlabs has received over 300 applications and has processed approximately 20%. The short-term goal is to expand to approximately 10 people, and the medium-term goal is to expand to approximately 20 people, focusing on recruiting talent with engineering capabilities and domain expertise. Regarding funding, Ethlabs stated that its current funding round is nearing completion and has secured early support from BitMNR, Sharplink, and Ethereum Joseph. The plan is to bring in 1-2 more core investors before moving to the next stage.
Citadel Securities and DTCC partner as omnichain interoperability protocol LayerZero launches a new exchange, expanding institutional market infrastructure for digital assets.
BWENEWS AI: Citadel Securities and DTCC partner as omnichain interoperability protocol LayerZero launches a new exchange, expanding institutional market infrastructure for digital assets.
ZachXBT: A hacker withdrew 3200 ETH from Tornado and laundered approximately $5.5 million through Circle's CCTP cross-chain service.
PANews reported on July 5th that on-chain detective ZachXBT disclosed on his personal channel that a hacker withdrew approximately 3200 ETH via Tornado Cash between July 2nd and 3rd. The funds are related to two private key leaks. The address subsequently used Circle's CCTP cross-chain bridge to launder approximately $5.5 million in assets across chains, further transferring USDC to seven deposit addresses on the Arbitrum network. ZachXBT pointed out that this fund flow exhibits a typical decentralized money laundering path, utilizing mixing tools and cross-chain infrastructure to reduce the difficulty of tracing. The related on-chain assets are still continuously circulating.
Astar launches a cross-chain version of USDC, replacing several older cross-chain assets such as ceUSDC.
According to Foresight News , Astar Network has launched Bridged USDC (cross-chain USDC), deployed by Swapper Finance based on Circle's Bridged USDC standard and Chainlink CCIP. This will replace several older cross-chain assets, including ceUSDC. When users cross chains, the native USDC is locked on the source chain, and an equal amount of Bridged USDC is minted on Astar. This process involves no liquidity pools, has no slippage, and reserves a path for future upgrades to native USDC.
Venus proposed shutting down 87 deprecated markets across multiple chains, requiring users to withdraw by June 29th.
According to Foresight News , decentralized lending protocol Venus Protocol has released a proposal to integrate 87 abandoned markets across 8 chains, including BNB Chain, Ethereum, and Arbitrum. The proposal will be implemented in two steps: first, the reserve ratio will be increased to 100%, and borrowing rates will be significantly raised to encourage users to exit; second, the collateral factor and liquidation threshold for the relevant markets will be reduced to zero during the week of June 29th, at which point related positions will face liquidation risk. Venus strongly advises borrowers or depositors in the aforementioned markets to close their positions or withdraw their assets before this date.
Taiko's cross-chain bridge has reopened, and a full recap report will be released soon.
According to Foresight News , Taiko tweeted that its cross-chain bridge has reopened. Users can now deposit and withdraw funds from Taiko again. Furthermore, a full recap of this incident will be released soon.