if anyone wonders why no one even considers building Ethereum L2s anymore, look no further than what they did to blast pacman was a phenomenal ethereum founder. probably the last one. blur was revolutionary, and blend was probably the last novel defi primitive when he started blast, he did things differently. he was less obsessed with decentralization theater than other L2s were, and maxed out engagement and growth instead. as a result an ethereum L2 went viral for the first time what did the ethereum cabal do? they shunned him. attacked him every day. said blast was centralized and unsafe. it got so bad they bullied paradigm, his lead investor, to publicly distance themselves from blast to defend their honor (i obviously don’t know the whole story but sitting on the sidelines it was really sad to see them do that to a founder) so is anyone surprised paradigm doesn’t want to go through that again? or that no founder wants that? the pseudo-technical ethereum community is toxic and hateful cabal. why bother oh and don’t get me started with the complete lack of support they’re showing luca with the penguins and abstract fuck these guys. if you’re a founder, don’t build on ethereum

L2s still process 20x more transactions than Ethereum. With L1 gas fees at historic lows, is activity migrating back? This week, Nexus breaks down revenue, transactions, and TVS to answer that question. Out this Friday.

A year of backtesting for the Fast Confirmation Rule confirms (!) that: - 96% of past blocks would have been fast-confirmed in a single slot. This could mean deposits from Ethereum to L2s or CEXes available in about 12 seconds! - The remaining 4% are usually confirmed fast too, usually much faster than other, less secure confirmation rules such as k-deep confirmations - No false confirmation is ever issued Client implementations continue 🫡

Time to say something out loud. The first era of Bankless has concluded. A six year collaboration between David and myself exploring crypto, defi, and maximizing Ethereum. We're in the second era now. In this second era I'm planning to take more of a backseat role supporting @TrustlessState as he explores new frontiers in crypto and beyond. I'll still be the pod every week (would never miss a rollup) but less in the role of content direction and guest interviews. David has the helm. He has my full support. For my part, I'm still bullish ETH. And bullish Bankless.

The next 24 hours and the path ahead. 1. In 10 hours Ronin will go into hibernation for ~ 10 hours as it upgrades into an Ethereum L2. 2. No user/player activity is required for the migration. 3. Once Ronin is back up, inflation will be cut dramatically. Treasury inflows will be up from gas fees, more Ronin marketplace fees, and 90 M RON from the allocation formerly used for staking rewards. 4. Projects that have registered for Proof of Distribution will start earning RON rewards based on the activity they bring to the network. Projects must be registered in order for the system to start crediting it with $RON. Proof of distribution will very publicly show which teams are performing and succeeding. Programmatically, without me or Sky Mavis having to curate and tell you which projects are doing well. 5. I expect all key metrics across the chain to start to improve. You get what you incentivize. Proof of distribution and bRON/bAXS are all systems that are net new to crypto and have never been rolled out at scale like we are doing now. See you on other side mfers.

Now, this probably means that almost all contracts are verified, and all activity goes through verified contracts? Not really! On Ethereum Mainnet, over 35% of transactions are currently going through unverified contracts. This sounds high?

Every payment on Polygon just got faster. We just shipped another upgrade to the chain. Block time has decreased to 1.75s, making it the first reduction since genesis. 14% more payments per second, every second. Accelerate.

What smart contract languages are securing most of Ethereum's value? What Solidity version secures the most value? We partnered with @argotorg to analyze the value that is secured by the top 1000 contracts on Ethereum and the activity that goes through these contracts ⬇️

I half-joked about this in the comments, but I'm very serious: App builders criminally undervalue the distribution effects of free/open analytics sites and trackers. > Monster is crushing (just passed $5M in vol) > Monster is not on DefiLlama (yet) > Therefore no one sees that they're crushing You HAVE to be analytics-and-registry-site maxing. DefiLlama, growthepie, <whatever>scan site that someone spins up—submit a fkin PR. Tag your contracts. Show the vol/fees/rev. It propagates your brand. It creates visual content. Visual content creates narratives. Monster will be on DL soon, and then people will start to see how well they're doing on a relative basis and go "oh shit - what's this?" and click in. Just do it bros (Andy did it and will be better for it).

The explorer now uses @open_labels for contract and account names.