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Blockdaemon Blog
Ethereum Newsletter || June 2023 : L2 Excitement on the Rise
ETH Newsletter
Jun 21, 2023
By:
Freddy
Zwanzger
&
Expand on your L2 networks knowledge; Updates on the ETH validators; Register for a collaborative webinar and more!
June 2023: L2 Networks Expand
Whether or not you believe bridges ≠ rollups, or how native L2 tokens can be, one thing is undeniable; L2 excitement continues to grow. Let’s dive in to what’s been happening in the Ethereum ecosystem:Optimism successfully completed its “Bedrock upgrade”, which set the stage for their Superchain vision of shared L2+L3 networks and reduced transaction fees ~50%. Plus, Circle’s stablecoin USDC now has a “native” version on Arbitrum L2.
The Shapella upgrade enabled the possibility to exit a staking position on Ethereum. This enabled institutions to stake their $ETH positions in line with their investment covenants.In the two months after the Shapella fork, the network added ~42k active validators (+7.3%), with almost 100k still in line in a 45+ days activation queue. This lets the percentage of Eth staked in terms of total supply go up from 15% to ~19% with no end in sight.
What excites me about Account Abstraction (EIP-4337) is obviously it's potential for our Blockdaemon wallet. Messari’s overview article about the wallet market and different wallet types explains well the differences and commonalities with MPC technology. But AA is also interwoven with the MEV supply chain.Next month, I’ll be going into how our Blockdaemon MPC wallet works in a similar way as KSM + HSM + multi-sig, but better…
Live MMI Webinar on Wednesday, 6/21
Easy institutional Ethereum staking with Blockdaemon is also available via MetaMask Institutional (MMI). Wednesday, June 21st, I will participate in a live webinar for “A Post-Shanghai/Capella Look at Institutional Staking” with MetaMask Institutional, Consensys and others. We’ll discuss the following topics:
The change in institutional staking interest post-withdrawals
Non-liquid vs liquid staking
Diversification within the institutional staking ecosystem
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