Weekly Project Updates: Sony Launches Soneium Blockchain, Multiple Exchanges Announce Listing of SOL Liquid Staking, Trump Unveils New NFT Collection, etc

1. Ethereum Foundation Announces Q2 2024 Grant Recipients link

The Ethereum Foundation announced that it allocated over $8.47 million in grants during the second quarter of 2024 to support global conferences, hackathons, cryptography research, developer tool development, and other projects. The grants include support for conferences like ETH Beijing, ETH Tokyo, and ETHWarsaw, as well as research initiatives such as the Anon Aadhaar protocol. Additionally, the funding was directed towards tools like the Circom Language Server and MEDGA Solidity Debugger, and protocols including the Account Abstraction Core Team and the Ethereum Protocol Fellowship.

2. Sony Unveils Soneium Blockchain Public Testnet link

Sony’s blockchain division, Sony Block Solutions Labs, announced the launch of the public testnet Minato for its Soneium blockchain, which is built on the Optimism technology stack. The company also initiated a developer incubation program. Early experimenters on this network include Circle, Optimism, Alchemy, The Graph, Chainlink, and Astar Network.

3. Superchain’s OP Chain Generates Over 14,000 ETH in Revenue link

Optimism tweeted that the OP Chain within the Superchain has generated over 14,000 ETH in revenue. Each OP chain in the Superchain operates under a standardized revenue-sharing model, returning a portion of the income to the Optimism Collective through a network-wide fee-sharing mechanism. The fee-sharing is calculated as the greater of 2.5% of chain revenue or 15% of on-chain profit, defined as fee income minus L1 gas fees. Notably, the OP mainnet contributed 100% of the on-chain net profit.

Additionally, Ethereum co-founder Vitalik Buterin responded on Twitter to concerns about whether all major L2 networks on the mainnet could technically steal user funds. He clarified that under Phase 1 rules, only when the Security Council reaches a 75% voting threshold can code be overridden. Moreover, a blocking quorum (≥26%) must include members from outside the company. Both Optimism and Arbitrum meet these requirements, ensuring that these organizations cannot unilaterally steal funds.

4. SafeDAO Contributors Propose Licensing Fees for Integrated Protocols link

Contributors at SafeDAO have proposed introducing licensing fees for protocols integrated into the Safe Wallet, aiming to establish a dedicated revenue stream. The proposal initially focuses on the swap function within the Safe Wallet, with an expected annual revenue of $2.5 million from these licensing fees. SafeDAO manages smart account infrastructure that safeguards nearly $60 billion in assets.

5. Vitalik: Farcaster’s Integration with Telegram Requires End-to-End Encryption link

Ethereum co-founder Vitalik Buterin responded to Paradigm co-founder Matt Huang’s suggestion to integrate Telegram groups into the Farcaster ecosystem, stating, “I would rather delay this move until we establish end-to-end encrypted communication. To achieve broader adoption of the entire Farcaster ecosystem, I believe it should be federated, meaning that users of one communication tool should be able to communicate with users of other tools.”

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6. Brave Browser Development Team Lays Off 27 Employees link

Brave Software, the developer behind the privacy-focused Brave browser, has implemented another round of layoffs, affecting 27 employees across various departments. PitchBook estimates that the company has a total of 191 employees. Brave is a free web browser known for its emphasis on privacy, featuring ad and tracker blocking as one of its key functions. Additionally, it offers users the option to receive certain ads in exchange for its native cryptocurrency, the Basic Attention Token (BAT).

7. Exchanges Launch SOL Liquid Staking Products link

On Thursday, Bybit announced the upcoming launch of its exchange-backed liquid staking token, bbSOL, on the Solana blockchain. Users can stake SOL on Bybit Web3 to receive bbSOL tokens, unlocking additional yield opportunities across CEX and Web3 products. Meanwhile, Bitget’s official Twitter account also teased the imminent launch of “BGSOL.” Binance joined in with a tweet hinting at the upcoming release of “BNSOL.”

8. Fractal Allocates 80% of Tokens to Community link

Fractal Bitcoin has announced its token distribution plan. According to the announcement, 80% of the tokens will be allocated to the community, while 20% will be reserved for the team and contributors (with a vesting period). The detailed distribution is as follows: 50% for Proof of Work (PoW) mining, 15% for the ecosystem treasury, 5% for a presale (with a 7-month lock-up period and linear release over 12 months), 5% for advisors, 10% for community grants, and 15% for core contributors.

9. Threshold Bitcoin DeFi Protocol Proposes Merging tBTC to “Rescue” WBTC link

The Bitcoin DeFi protocol Threshold has proposed a merger with WBTC to “save” WBTC. According to the proposal, BitGo will become the largest holder of Threshold’s T tokens and will assume control over the minting and burning mechanisms of WBTC to ensure its continued stability and security as collateral. This move comes in response to BitGo’s announcement of a partial asset control transfer to Justin Sun’s BiT Global. Several DeFi protocols reliant on WBTC are contemplating delisting it, and MakerDAO has already voted to disable WBTC borrowing.

10. Trump Releases Fourth Series of Digital Trading Card NFTs link

According to the series’ official website, each digital trading card NFT is priced at $99. Users who purchase 75 or 250 digital trading cards in a single transaction will receive two rewards: a dinner with Trump at his private country club and a suit he wore in a famous debate. Additionally, purchasing 250 cards will include 2 dinner tickets, 2 cocktail party tickets, and 2 physical cards.

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