Today In DeFi – SMG Halts Ethereum (for 12s), Polygon 2.0 Architecture, Stable farms and more
In the ever-evolving world of decentralized finance (DeFi), there are always new developments and advancements taking place. This article will highlight some of the latest news in the DeFi space, including SMG halting Ethereum transactions, Polygon’s 2.0 architecture, stable farms, and more.
First up, we have the news that the Special Mechanism Group (SMG) has halted Ethereum transactions for a brief period of 12 seconds. This was achieved through the exploitation of PBS (proposer builder separation), with SMG proposing an empty block and outbidding others for block inclusion. In their thread, SMG argued for a more censorship-resistant approach, highlighting the need for a decentralized and robust network.
Next, we move on to Polygon, which has announced its 2.0 architecture. This includes an interoperability layer and a Staking Layer that will utilize Polygon’s token through restaking. This development is significant as it will enhance the functionality and efficiency of the Polygon network, allowing for seamless communication and collaboration across different blockchain ecosystems.
Another interesting development is the possibility of Lido staking its treasury ETH. According to Blockworks, the vote is currently live, and early indications suggest that the majority of votes are in favor of this proposal. If implemented, this move could potentially increase Lido’s governance power and strengthen its position within the DeFi space.
Furthermore, the Cosmos and Polkadot ecosystems have been connected with the launch of the Centauri Bridge. This bridge facilitates interoperability and collaboration between the two blockchain networks, allowing for the seamless transfer of assets and data.
In addition to these developments, Reserve Protocol has recently obtained a license from OFAC to operate in Venezuela through its Rpay stablecoin wallet. This license will enable Reserve to provide financial services and support to Venezuelan users, offering them a more stable and secure means of storing and transacting their assets.
On the topic of blockchain interoperability, deBridge is now live on the Solana network. This platform allows for transfers between Ethereum Virtual Machine (EVM) and Solana blockchains, further enhancing the connectivity and versatility of the DeFi space.
Finally, let’s touch upon stable farms, which offer investors the opportunity to earn high annual percentage rates (APRs) on their stablecoin investments. These platforms provide a secure and reliable way to stake stablecoins and generate passive income. While the original author of this news was not mentioned in the provided information, it is important to give credit to the individuals or organizations who have contributed to the development of this novel concept in DeFi.
In conclusion, the DeFi space is constantly evolving and expanding, with new developments and innovations being introduced regularly. From SMG halting Ethereum transactions to the launch of Polygon 2.0 architecture, the DeFi community continues to push boundaries and strive for a more inclusive and efficient financial system. As investors and enthusiasts, it is important to stay informed about these developments and opportunities that arise in the DeFi space.