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Defi Digest
May 04, 2023

Defi Digest

ūüí°This article is AI generated

We are constantly evolving and adopting innovation to see how they can help further defi. Using AI to generate digests is one of these efforts, as well as to generate some visual representation. Let us know what you think and join in on the discussion on Discord!

1. Lens Layer 3: Mimosa

Lens, a decentralized social media protocol, has unveiled its bespoke Layer 3 scaling solution, Momoka. Data availability layers like Momoka minimize on-chain storage requirements, reducing costs for Lens users. Lens has partnered with Arweave and Bundlr on Momoka and launched a block explorer to monitor its performance.

Lens activity surged from roughly 20,000 to a record high of 168,000 daily user actions in late March. The monthly average number of Lens users also jumped from a January low of 10,000 to a record high of 130,000 the following month. Aave team is also working to launch a native stablecoin called GHO, with the their community currently voting on proposed initial parameters.

Source: The Defiant

2. Introducing Forge-exec

Forge-exec is a utility that lets you interact with a Foundry/Forge execution engine using any language. With an existing JS library, it’s easy to write tests and scripts. You can simply install forge-exec as a git submodule in your Foundry project or on your machine, and you’re ready to create, call, and send requests. Plus, forge-exec maintains a two-way communication channel with the program being executed, making interaction a breeze!

Source: Twitter

3. The Easy Way To Quit (Concrete) Testing

Looking for the latest developments in smart contract testing? New post evaluates four different tools that support symbolic execution of tests defined as part of a Foundry project. Based on the evaluation, hevm demonstrates the best performance, followed by Halmos and EthBMC, and finally KEVM. The tools output the concrete counterexample corresponding to the test failure, except for KEVM which provides a visual representation of the analysis process.

All tools support some of the DSTest/Foundry-specific functionality, including state initialization via setUp() and Foundry’s supplementary assert functions. While the tools implement almost non-intersecting sets of cheatcodes, they all support at least one cheatcode.

Source: Hackmt

4. RabbitHoles (RBITS) Contract Rewrite

Exciting news in the world of ERC-20 contracts! The RabbitHoles (RBITS) contract has been rewritten in Cairo1 to provide a permanent and censorship-resistant platform for engaging in discussions. RabbitHoles (RBITS) is a popular defi platform that allows users to earn rewards by completing tasks and engaging with various defi protocols.

Users can dig holes and burn rabbits (representing topics and messages) to join in. Here’s how it works: Alice pays a small fee to dig a hole, and is rewarded with RBITS. Then, rabbits (messages) can be burned inside the hole using RBITS as tokens.

Source: GitHub

5. Cosmos Replicated Security

The Cosmos Hub has received near-unanimous support for its first proposal to allow a blockchain to derive its security. Neutron, the blockchain platform that plans to outsource its security to the Cosmos Hub, has offered 25% of transaction fees and miner extractable value to the Hub.

If passed next week, Neutron will become the first chain to use Replicated Security, a feature called shared security. The Cosmos ecosystem may be entering a new era where businesses can safely spin up ‚Äúconsumer chains‚ÄĚ with relative ease.

Source: The Defiant

6. Google Cloud-Polygon Partnership

Google Cloud has announced its partnership with Polygon, deepening its participation in the web3 industry. The two firms have entered a ‚Äúmulti-year strategic alliance‚ÄĚ to provide infrastructure to developers building on Polygon‚Äôs PoS Chain, zkEVM, and Supernets scaling solutions. As part of the deal, Google will make its node hosting and management service, Blockchain Node Engine, available for Polygon PoS Chain node operators.

Polygon’s MATIC token reversed earlier losses after the news broke. Additionally, Google has expanded its accelerator program for web3 startups, offering up to $2,000 worth of Google Cloud credits for two years to pre-seed startups and $200,000 in Cloud and Firebase services to funded firms.

Source: The Defiant

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