Y’all know that Doakes died at the end of the season right? Even your memes have downtime 🤣

Ethereum is winning. Ethereum’s adoption moment has hit its structural inflection point. Etherealize is laser-focused on making Ethereum the backbone of the global financial system—and the best is yet to come. But we’re a taking moment to appreciate ETH hitting $4200. (1/3)

Last 4 days of ETH ETF inflows: $791mm Last 4 days of ETH issuance: $42mm (not including burn) Just from ETF inflows alone, there will be a supply crunch of digital oil Add in treasury purchases and it’s game on Happy $4200 ETH 😎

There are only 2 institutional grade store of value assets in crypto: BTC: digital gold ETH: digital oil

Spotted at Frontiers

Ronin becoming an L2 is a massive win for Ethereum. Thank you @Jihoz_Axie 💜

Amazing to see so many major L2s now at stage 1. The next goal we should shoot for is, in my view, fast (<1h) withdrawal times, enabled by validity (aka ZK) proof systems. I consider this even more important than stage 2. Fast withdrawal times are important because waiting a week to withdraw is simply far too long for people, and even for intent-based bridging (eg. ERC-7683), the cost of capital becomes too high if the liquidity provider has to wait a week. This creates large incentives to instead use solutions with unacceptable trust assumptions (eg. multisigs/MPC) that undermine the whole point of having L2s instead of fully independent L1s. If we can reduce native withdrawal times to under 1h short term, and 12s medium term, then we can further cement the Ethereum L1 as the default place to issue assets, and the economic center of the Ethereum ecosystem. To do this, we need to move away from optimistic proof systems, which inherently require waiting multiple days to withdraw. Historically, ZK proof tech has been immature and expensive, which made optimistic proofs the smart and safe choice. But recently, this is changing rapidly. is an excellent place to track the progress of ZK-EVM proofs, which have been improving rapidly. Formal verification on ZK proofs is also advancing. Earlier this year, I proposed a 2-of-3 ZK + OP + TEE proof system strategy that threads the needle between security, speed and maturity: * 2 of 3 systems (ZK, OP) are trustless, so no single actor (incl TEE manufacturer or side channel attacker) can break the proof system by violating a trust assumption * 2 of 3 systems (ZK, TEE) are instant, so you get fast withdrawals in the normal case * 2 of 3 systems (TEE, OP) have been in production in various contexts for years This is one approach; perhaps people will opt to instead do ZK + ZK + OP tiebreak, or ZK + ZK + security council tiebreak. I have no strong opinions here, I care about the underlying goal, which is to be fast (in the normal case) and secure. With such proof systems, the only remaining bottleneck to fast settlement becomes the gas cost of submitting proofs onchain. This is why short term I say once per hour: if you try to submit a 500k+ gas ZK proof (or a 5m gas STARK) much more often, it adds a high additional cost. In the longer term, we can solve this with aggregation: N proofs from N rollups (plus txs from privacy-protocol users) can be replaced by a single proof that proves the validity of the N proofs. This becomes economical to submit once per slot, enabling the endgame: near-instant native cross-L2 asset movement through the L1. Let's work together to make this happen.

Ethereum is the home for institutional liquidity.

*CNBC* now calling eth… “Wall Street’s invisible backbone”

🧵 1/7 Our take on SEC's Project Crypto and ETH impact: $ETH ethereum outperforming the crypto since early April. Below shows ETH/BTC ratio and we can see the sustained rise ...fueling this is Wall Street running towards ETH as stablecoins created the "chatGPT" moment ticker: $BMNR