Original article by Ryan Celaj, DLNews

Original compilation: Luccy, BlockBeats

Editor's note: After the Dencun upgrade, the Transaction Cost drop on the second tier Blockchain Ethereum increased by up to 99%. Among them, Arbitrum reached a new high in daily active users and total volume on Monday, surpassing Solana. However, the total value, volume and coin price of encryption assets on Arbitrum are all falling, DLNews reporter Ryan Celaj analyzed the data, and the original text is compiled as follows:

• On Monday, Arbitrum reached new highs in daily active users and total volume.
• However, Arbitrum's governance token has fall by 58% since ATH at the beginning of the year.
• Arbitrum remains the leader in total value of encryption assets, daily volume, and number of daily active users in Ethereum's Layer 2 Blockchain.

With Money Laundering at its lowest level in Ethereum long years, Arbitrum, a layer-2 network built on top of Ethereum, has seen an all-time high in activity.

On Monday, Arbitrum's daily active Address surged to an all-time high of 856, 000, rise 150% from the 341, 000 recorded in early May. This surge has brought Arbitrum to more than Solana's 833, 000 daily active users, although Solana has recently gained popularity due to the memecoin trading frenzy.

This happened with the Dencun upgrade Ethereum on March 15, which Ethereum up to 99% of the Transaction Cost drop on the second layer Blockchain.

Arbitrum's Daily Active Address and Number of Transactions (Growthepie)

In the week before the upgrade, the number of transactions on Arbitrum was just 747, 000, and in the week after the upgrade, that number jumped to 1.5 million before reaching a high on Monday.

Arbitrum DAO also recently unveiled its plans to invest 35 million ARB Token in stable, liquid assets. This has led to the launch of potential products by longest companies, including heavyweight Franklin Templeton, a trillion-dollar asset manager, and Securitize, the company that helped BlackRock tokenize its assets.

Despite these significant developments, the total value of encryption assets on Arbitrum has fallen 22% from its all-time high of $20 billion on April 1 to $15.7 billion. VOLUME on Arbitrum's DEX exchange has fallen 82% from its March 4 high of $2.2 billion to $404 million. Arbitrum's governance token ARB is also underperforming in price.

ARB Daily Token Price

ARB hit an all-time high of $2.26 on January 11 and approached again on March 7 at $2.17. However, the Token has fallen 58% since January and is currently trading at $0.94. At the same time, Ethereum pumped about 10% over the same period.

One reason for the ARB price lag may be the massive Token unlocking carried out by Offchain Labs, the development team behind Arbitrum, and its investors. On March 15, about $1.2 billion worth of ARB Token was unlocked and distributed to these groups, and the Token were locked up for a year.

Still, Arbitrum remains the preferred Tier 2 Blockchain for overall bridge Ethereum. According to data as of April 28, just over 1.7 million Ether coin were moved to Arbitrum, while Arbitrum's 14 largest Tier 2 competitors saw only about 1.5 million Ether coin bridge to their Blockchain.

Link to original article

Author: @Web3Mario

Introduction: Vitalik released the EIP-7706 proposal on May 13, 2024, proposing a complementary scheme to the existing gas model, dropping out the gas calculation of calldata, and customizing a base fee pricing mechanism similar to Blob gas to further reduce the running cost of L2. The related proposal also needs to be traced back to EIP-4844 proposed in February 2022, which is a long time ago, so check out the relevant materials to make an overview of the latest Ethereum Gas mechanism for everyone to quickly understand.

Currently supported Ethereum Gas models - EIP-1559 and EIP-4844

In the initial design, Ethereum uses a simple auction mechanism to price Money Laundering, which requires users to actively bid for their own transactions, that is, to set a gas price, usually, because the transaction fee paid by the user will be vesting than the Miner, so the Miner will determine the order of transaction packaging according to the principle of economic optimization, according to the bidding level, note that this is in the case of ignoring MEV. In the eyes of the core developers at the time, this mechanism faced the following four problems:

There is a mismatch between the Fluctuation of the Money Laundering level and the cost of the transaction Consensus:* For active Blockchain, the packaging demand for the transaction is sufficient, which means that the Block can be easily filled, but it also often means that the overall cost is extremely Fluctuation. For example, when the average gas price is 10 Gwei, the marginal cost of the network to accept another transaction in a block is 10 times that of the average gas price of 1 Gwei, which is unacceptable. Unnecessary latency for users: Due to the hard limit of gaslimit per Block, coupled with the natural Fluctuation of historical volume, transactions often wait a few Block before being packaged, but this is inefficient for the overall network; That is, there is no "slack" mechanism that allows one Block to be larger and the next Block smaller to meet the differences in needs that are Block on a case-by-case basis. Inefficient pricing: The use of a simple auction mechanism leads to inefficient fair price discovery, which means that it will be difficult for users to give a reasonable price, which means that in very long cases, users pay high fees. A Blockchain without Block Reward will be unstable: When the Block Reward brought by the Mining is removed and a pure fee model is adopted, it can lead to very long instability, such as incentivizing mining to steal the "sister block" of the Money Laundering, opening a more powerful selfish mining Attack Vector, etc.

Until EIP-1559 was proposed and executed, there was a first iteration of the Gas model, EIP-1559 was proposed by Vitalik and other core developers on April 13, 2019, and adopted in the London upgrade on August 5, 2021 fee will be based on the gas consumption generated in the parent Block and a floating and recursive gas The relationship between the target is quantitatively calculated through an established mathematical model, and the intuitive effect is that if the gas usage in the previous Block exceeds the predetermined gas target, the base fee will be increased, and if it is less than gas target, the base fee will be lowered, which can better reflect the relationship between supply and demand. It can also make the prediction of reasonable gas more accurate, and there will be no sky-high gas price caused by misoperation, because the calculation of base fee is directly determined by the system rather than freely specified by the user. The specific code is as follows:

It can be seen that when parent_gas_used is greater than parent_gas_target, then the base fee of the current Block will be compared with the base fee of the previous Block plus an offset value, and the offset value is taken as parent_base_fee multiplied by the offset of the total usage of the previous Block gas relative to the gas target, and the maximum value of the remainder and 1 of the gas target and a constant. The reverse logic is similar.

In addition, the base fee will no longer be distributed to Miners as a reward, but will be directly burned, so that the economic model of ETH is in a deflationary state, which is conducive to the stability of value. On the other hand, Priority fee is equivalent to the user's tip to the Miner, which can be freely priced, which can allow the sorting Algorithm of the Miner to be reused to a certain extent.

With the advancement of time to 2021, when the development of Rollup gradually entered a better situation, we know that both OP Rollup and ZK Rollup mean that some proof data after compression of L2 data needs to be uploaded to the on-chain through calldata to achieve data availability or directly handed over to the on-chain for verification. As a result, these rollup solutions face large gas costs when maintaining L2 finality, and these costs will eventually be passed on to users, so most L2 protocol usage costs are not as low as imagined.

At the same time, Ethereum is also facing the dilemma of competition between Block short, we know that there is a gas limit for each Block, which means that the total gas consumption of all transactions in the current Block cannot exceed this value, based on the current gas limit of 300000000, there is a theoretical limit of 30,000,000 / 16 = 1,875,000 bytes, where 16 refers to the EVM processing each calldata Bytes consume 16 units of gas, which means that a single Block can carry about 1.79 MB of data long. The rollup-related data generated by the L2 sequencer usually has a large data scale, which makes it compete with other mainchain users' transaction confirmations, resulting in a smaller volume of transactions that can be packaged in a single block, which in turn affects the TPS of the mainchain.

To address this dilemma, core developers submitted a proposal for EIP-4844 on February 5, 2022, which was implemented after the Dencun upgrade at the beginning of Q2 2024. The proposal proposes a new transaction type called Blob Transaction, which is supplemented with a new data type, Blob data, compared to the traditional type of Transaction. Unlike the calldata type, blob data cannot be directly accessed by the EVM, but only its hash, also known as VersionedHash. In addition, there are two accompanying designs, one is that compared with ordinary transactions, the GC period of blob transaction is shorter, so as to ensure that the Block data is not too bloated, and the other is that blob data has a native Gas mechanism, and the overall effect is similar to EIP-1559, but the natural exponential function is selected in the mathematical model, so that it performs better in terms of stability in response to transaction size Fluctuations, because the slope of the natural exponential function is also a natural exponential function, This means that no matter what state the network transaction size is in at this time, when the transaction size soars rapidly, the base fee of the blob gas responds more fully, thereby effectively curbing transaction activity, and the function also has an important feature, when the abscissa is 0, the function value is 1.

base_fee_per_blob_gas = MIN_BASE_FEE_PER_BLOB_GAS * e**(excess_blob_gas / BLOB_BASE_FEE_UPDATE_FRACTION)

where MIN_BASE_FEE_PER_BLOB_GAS and BLOB_BASE_FEE_UPDATE_FRACTION are two constants, and excess_blob_gas is determined by the difference between the total blobs in the parent Block gas consumed by one TARGET_BLOB_GAS_PER_BLOCK constant, when the total blobs gas consumption exceeds the target value, that is, when the difference is positive, e**(excess_blob_gas / BLOB_BASE_FEE_UPDATE_FRACTION) is greater than 1, then base_fee_per_blob__gas becomes larger, and vice versa.

In this way, for some scenarios that only want to use Ethereum's consensus ability to store some large-scale data to ensure availability, it can be executed at low cost, and will not crowd out the transaction packaging capacity of the block. Taking the Rollup sequencer as an example, the key information of L2 can be encapsulated into blob data through blob transaction, and the logic of on-chain verification can be realized by using versionedHash through ingenious design in the EVM.

It should be added that the current TARGET_BLOB_GAS_PER_BLOCK and MAX_BLOB_GAS_PER_BLOCK settings introduce a limit of Mainnet of 3 blobs (0.375 MB) per Block and a maximum of 6 blobs (0.75 MB) per long. These initial limits are designed to minimize the strain on the network from this EIP and are expected to increase in future upgrades as the network demonstrates reliability at larger blocks.

Re-refinement of the execution environment gas consumption model - EIP-7706

Now that the current Ethereum Gas model has been clarified, let's take a look at the goals and implementation details of the EIP-7706 proposal. The proposal was presented by Vitalik on May 13, 2024. Similar to blob data, this proposal strips the gas model corresponding to another special data field, which is calldata. And the corresponding code implementation logic has been optimized.

In principle, the base fee calculation logic of calldata is the same as that of base fee for blob data in EIP-4844, which uses an exponential function and calculates the scaling of the current base fee based on the deviation between the actual gas consumption value and the target value in the parent block.

It is worth noting a new parametric design, LIMIT_TARGET_RATIOS=[2,2,4], where LIMIT_TARGET_RATIOS[0][1]Indicates the target ratio of the operation gas, LIMIT_TARGET_RATIOS[2]Indicates the target ratio of the blob data class Gas, which is LIMIT_TARGET_RATIOSThis vector is used to calculate the gas target value corresponding to the three classes of gas in the parent Block, and the calculation logic is as follows, that is, LIMIT_TARGET_RATIOS is used to divide the gas limit by dividing the limit:

The logic of setting gas_limits is as follows:

gas_limits[0]The existing adjustment formula must be followed

gas_limits[1]Must be equal to MAX_BLOB_GAS_PER_BLOCK

gas_limits[2][0]Must be equal to gas_limits // CALLDATA_GAS_LIMIT_RATIO

We know the current gas_limits[0]is 30000000, CALLDATA_GAS_LIMIT_RATIO is preset to 4, which means that the current calldata gas target is about 300000000 // 4 // 4 = 1875000, and because according to the current calldata gas calculation logic, each non-zero Bytes consumes 16 Gas, and zero Bytes consumes 4 Gas. For example, if the distribution of non-zero and zero bytes in a certain segment of calldata accounts for 50% each, the average processing of 1 byte of calldata consumes 10 gas. Therefore, the current calldata gas target should cope with 187,500 bytes of calldata data, which is about twice the current average usage.

The advantage of this is that the probability of calldata reaching the gas limit is greatly reduced, and the usage of calldata is kept in a more consistent state through economic modeling, and the abuse of calldata is also eliminated. The reason for this design is to drop the development of L2, and with blob data, the sequencer cost is further reduced.

By Nancy, PANews

The veteran Decentralized Finance protocol MakerDAO is accelerating the implementation of the endgame plan "Endgame". Shortly after announcing plans to launch a new stablecoin, NewStable (NST), and a new governance token, NewGovToken (NGT), MakerDAO today announced the upcoming launch of its first SubDAO Spark and its native Token, SPK.

The first SubDAO will be launched soon, and the community governance mechanism will be adopted

As an important shift for MakerDAO, Endgame is able to scale the supply of DAI to 100 billion or long more by improving efficiency, resiliency, and accessibility. In order to create a more fair, transparent and effective governance system, MakerDAO has introduced a popular new model of DAO governance, subDAO, and set specific applications or responsibilities for each subDAO.

As MakerDAO's first subDAO, SparkDAO is built around Spark, a lending protocol. According to the official introduction, Spark's main products include SparkLend and Cash & Savings, the former allows users to borrow DAI on a large scale with high liquidity assets, and the latter provides similar on-chain banking products, combining the functions of cash and savings accounts with the Dai savings Intrerest Rate (DSR), and supporting assets include DAI, USDT and USDC. Protocol to DefiLlama, Spark Protocol's TVL was nearly $2.19 billion as of May 15, making it the fourth largest lending protocol and accounting for 7.3% of the lending market.

Officially, SparkDAO will also launch its own native Token SPK and long SPK Token Mining plans. The total Token of SPK is 4 billion, and it is planned to be distributed over a period of 10 years, with 1 billion Token distributed annually for the first 2 years, and then the distribution rate will be Halving every 2 years, and new Token NewStable and stake protocol Lockstake Engine users will receive 70% (700 million) and 30% (300 million) of SPK Token, respectively.

Once SparkDAO is launched, its Token SPK can be Mining through Liquidity Mining, and SPK Token holders will have the opportunity to immediately Mine NewGovToken (NGT) to participate in the governance of the MakerDAO ecosystem, which is officially estimated to be Liquidity Mining at a rate of 80 million NGT per year. At present, MakerDAO has opened the pre-mine activity of Token SPK on SparkLend for users, and the mined Token will be distributed when SparkDAO is launched.

In addition, SparkDAO advocates a community-driven governance mechanism supported by SPK Token votes, and will be rolled out in a gradual manner, initially allowing Token holders to guide community marketing, etc., and will achieve full autonomy in all aspects of SparkDAO governance over time and seamlessly integrate into the Maker SubDAO ecosystem.

Protocol to MakerDAO, the protocol plans to launch six SubDAOs in the second phase of Endgame, each of which will cater to different market segments and community interests, such as RWA-focused or gaming-focused SubDAOs, and the implementation of SubDAO governance will be complemented by an effective user interface and AI-powered tools to help and simplify governance decisions.

The first phase of Endgame is planned to be launched this summer, and longest features will be released one after another

As a "veteran" in the Decentralized Finance field with more than $5 billion TVL, MakerDAO, which has been developing for long years, has been in a dominant position for a long time. As of May 15, the total supply of DAI had pump to 5.45 billion, having rise more than 850 million in the past two months alone, the highest since October last year, according to Maker Burn data. At the same time, Maker's annualized profit reached $65.405 million, annualized fee income was $330 million, and PE was estimated to be 38.35.

According to the MakerDAO study released in April by Ryan Watkins, co-founder of Syncracy Capital, MakerDAO has accounted for nearly 40% of the Decentralized Finance profits on Ethereum in the past six months, and the secret of its success is the stablecoin DAI with a coin premium. At the same time, the report also pointed out that although Maker's annual revenue exceeds that of all encryption projects except Ethereum, Tron and Solana, and although its price-to-earnings ratio has been suppressed, the launch of "Endgame" could turn that around, or give Maker a multi-billion dollar fee opportunity and a $40 billion project valuation.

And Endgame's reform plan has also ushered in new progress this year. In March 2024, Rune Christensen, founder of MakerDAO, officially announced that it will launch the first phase of Endgame this summer, the "Launch Season", which will successively launch features including new tokens, SubDAO, NewBridge and Lockstake Engine, thereby achieving exponential rise in DAI usage.

At present, in addition to the above-mentioned subDAO, MakerDAO also recently announced that it will launch two new Tokens to replace DAI and MKR, NewStable and NewGovToken, of which NewStable will serve as an upgraded Token of DAI, designed for wider adoption and with enhanced stability features; NewGovToken represents a well-established governance approach within the ecosystem, with each MKR converted to 24,000 NGT to encourage broader participation and more dynamic decision-making, and the final name of the two will be shared through brand unveiling.

In short, with the continuous advancement of Endgame, the large-scale restructuring battle of MakerDAO has slowly begun.

Original Author: @Web3 Mario

Introduction: On May 13, 2024, Vitalik released the EIP-7706 proposal, proposing a complementary solution to the existing gas model, separating the gas computation of calldata, and customizing a base fee pricing mechanism similar to Blob gas to further drop the running cost of L2. The related proposal also needs to be traced back to EIP-4844 proposed in February 2022, which is a long time ago, so check out the relevant materials to provide an overview of the latest Ethereum Gas mechanism for you to quickly understand.

The currently supported Ethereum Gas models - EIP-1559 and EIP-4844

In the original design, Ethereum uses a simple auction mechanism to price Money Laundering, which requires users to actively bid for their own transactions, that is, to set a gas price, normally, because the transaction fee paid by users will be vesting than Miner, so the Miner will determine the order of transaction packaging according to the principle of economic optimality, according to the bidding level, note that this is in the case of ignoring MEV. In the eyes of the core developers at the time, this mechanism faced the following four problems:

• Fluctuation in the level of Money Laundering and the consensus cost of transactions: In an active Blockchain, there is sufficient demand for transaction packaging, which means that blocks can be easily filled, but this often also means that the overall fee Fluctuation is extremely high. For example, when the average gas price is 10 Gwei, the marginal cost of the network to accept one more transaction in a block is 10 times that of the average gas price of 1 Gwei, which is unacceptable.
• Unnecessary latency for users: Due to the hard gas limit of each block, coupled with the natural fluctuation of historical volume, transactions usually wait for several blocks to be packaged, but this is inefficient for the overall network; That is, there is no "slack" mechanism that allows one Block to be larger and the next Block smaller to meet the differences in needs that are Block on a case-by-case basis.
• Inefficient pricing: The use of a simple auction mechanism leads to inefficient fair price discovery, which means that it will be difficult for users to give a reasonable price, which means that in very long cases, users pay high fees.
• Block Reward-free Blockchain will be unstable: When the Block Reward brought by Mining is removed and a pure fee model is adopted, it can lead to very long instability, such as incentivizing mining to steal Money Laundering "sister blocks", opening more powerful selfish mining Attack Vector, etc.

It wasn't until EIP-1559 was proposed and implemented that there was a first iteration of the Gas model, which was proposed by core developers such as Vitalik on April 13, 2019, and adopted in the London upgrade on August 5, 2021, which abandoned the auction mechanism in favor of a dual pricing model of base fee and priority fee, where the base fee would be based on the gas already generated in the parent Block The relationship between consumption and a floating and recursive gas target is quantitatively calculated through an established mathematical model, and the intuitive effect is that if the usage of gas in the previous Block exceeds the predetermined gas target, the base fee will be increased, and if it is less than the gas target, the base fee will be lowered, which can not only better reflect the relationship between supply and demand, but also make the prediction of reasonable gas more accurate. There will be no sky-high gas price due to misoperation, because the calculation of base fee is directly determined by the system rather than freely specified by the user. The specific code is as follows:

It can be seen that when parent\gas_used is greater than parent_gas_target, then the base fee of the current Block will be compared with the base fee of the previous Block plus an offset value, and the offset value is taken as parent_base_fee multiplied by the offset of the total usage of the previous Block gas relative to gas target, and the maximum value of the remainder of 1 with gas target and a constant. The reverse logic is similar.

In addition, the base fee will no longer be distributed to Miners as a reward, but will be burned directly, so that the economic model of ETH is in a deflationary state, which is conducive to the stability of value. On the other hand, Priority fee is equivalent to the user's tip to the Miner, and the price can be set freely, which can allow the sorting Algorithm of the Miner to be reused to a certain extent.

As time progresses to 2021, when the development of Rollup gradually enters a better state, we know that both OP Rollup and ZK Rollup mean that some proof data after compression of L2 data needs to be uploaded to the on-chain through calldata to achieve data availability or directly handed over to the on-chain for verification. As a result, these rollup solutions face significant gas costs when maintaining L2 finality, and these costs are ultimately passed on to users, so most L2 protocol usage costs are not as low as imagined.

At the same time, Ethereum is also facing the dilemma of competition between Block short, we know that there is a gas limit for each Block, which means that the total gas consumption of all transactions in the current Block cannot exceed this value, based on the current gas limit of 300000000, there is a theoretical limit of 30, 000, 000 / 16 = 1, 875, 000 bytes, where 16 refers to the consumption of 16 per calldata byte processed by the EVM This means that the maximum long of a single Block can carry data is about 1.79 MB. The rollup-related data generated by the L2 sequencer is usually large-scale, which makes it compete with other mainchain users' transaction confirmations, resulting in a smaller volume that can be packed in a single block, which in turn affects the TPS of the mainchain.

To address this dilemma, the core developers proposed EIP-4844 on February 5, 2022, which was implemented after the Dencun upgrade at the beginning of Q2 2024. The proposal proposes a new type of transaction called Blob Transaction, which is based on a new data type, Blob data, which is a new data type, Blob data, compared to the traditional type of Transaction. Unlike the calldata type, blob data cannot be directly accessed by the EVM, but only its hash, also known as VersionedHash. In addition, there are two accompanying designs, one is that compared with ordinary transactions, the GC period of blob transactions is shorter, so as to ensure that the block data is not too bloated, and the second is that blob data has a native gas mechanism, which generally presents a similar effect to EIP-1559, but chooses the natural exponential function in the mathematical model, so that it can perform better in stability when dealing with transaction size fluctuations, because the slope of the natural exponential function is also a natural exponential function, This means that no matter what state the network transaction size is in at this time, when the transaction size spikes rapidly, the base fee of the blob gas responds more fully, thereby effectively curbing transaction activity, and the function also has an important feature, when the abscissa is 0, the function value is 1.

base_fee_per_blob_gas = MIN_BASE_FEE_PER_BLOB_GAS * e**(excess_blob_gas / BLOB_BASE_FEE_UPDATE_FRACTION)

where MIN_BASE_FEE_PER_BLOB_GAS and BLOB_BASE_FEE_UPDATE_FRACTION are two constants, while excess_blob_gas is determined by the difference between the total blobs in the parent Block gas and one TARGET_BLOB_GAS_PER_BLOCK constant, when the total blobs gas When the consumption exceeds the target value, that is, when the difference is positive, e**(excess_blob_gas / BLOB_BASE_FEE_UPDATE_FRACTION) is greater than 1, then base_fee_per_blob_gas becomes larger, and vice versa becomes smaller.

In this way, for some scenarios that only want to use Ethereum's consensus ability to store some large-scale data to ensure availability, it can be executed at low cost without crowding out the transaction packaging capacity of the block. Taking the rollup sequencer as an example, the key information of L2 can be encapsulated into blob data through blob transaction, and the logic of on-chain verification can be implemented by using versionedHash through clever design in the EVM.

It should be added that the current TARGET_BLOB_GAS_PER_BLOCK and MAX_BLOB_GAS_PER_BLOCK settings introduce a limit of Mainnet of 3 blobs (0.375 MB) per Block and a maximum of 6 blobs (0.75 MB) per long. These initial limits are designed to minimize the strain on the network from this EIP and are expected to increase in future upgrades as the network demonstrates reliability at larger blocks.

Refines the gas consumption model for the execution environment - EIP-7706

Now that the current Ethereum gas model has been clarified, let's take a look at the goals and implementation details of the EIP-7706 proposal. The proposal was presented by Vitalik on May 13, 2024. Similar to blob data, this proposal strips the gas model for another special data field, which is calldata. And the corresponding code implementation logic has been optimized.

In principle, the base fee calculation logic of calldata is the same as that of base fee for blob data in EIP-4844, which uses an exponential function and calculates the scaling of the current base fee based on the deviation value of the actual gas consumption value in the parent block from the target value.

It is worth noting a new parameter design, LIMIT_TARGET_RATIOS=[ 2, 2, 4 ], where LIMIT_TARGET_RATIOS[ 0 ] represents the target ratio of the operation class Gas, LIMIT_TARGET_RATIOS[ 1 ] represents the target ratio of the Blob data class Gas, and LIMIT_TARGET_RATIOS [ 2 ] represents the calldata The target ratio of the class Gas, this vector is used to calculate the gas target values corresponding to the three classes of gas in the parent Block, and the calculation logic is as follows, that is, the gas limit is divisible by LIMIT_TARGET_RATIOS respectively:

The logic of gas_limits is as follows:

gas_limits[ 0 ] must follow the existing adjustment formula

gas_limits[ 1 ] must be equal to MAX_BLOB_GAS_PER_BLOCK

gas_limits[ 2 ] must be equal to gas_limits[ 0 ] // CALLDATA_GAS_LIMIT_RATIO

We know that the current gas_limits[ 0 ] is 30000000, and CALLDATA_GAS_LIMIT_RATIO is preset to 4, which means that the current calldata gas target is about 300000000 // 4 // 4 = 1875000, and because according to the current calldata gas calculation logic, each non-zero bytes consumes 16 gas, and zero bytes consumes 4 gas. Assuming that the distribution of non-zero and zero bytes in a certain segment of calldata accounts for 50% each, it takes an average of 10 gas to process 1 bytes of calldata. Therefore, the current calldata gas target should cope with 187500 bytes of calldata data, which is about 2 times the current average usage.

The advantage of this is that the probability of calldata reaching the gas limit is greatly reduced, and the usage of calldata is kept in a more consistent state through economic modeling, and the abuse of calldata is also eliminated. The reason for this design is to clear the way for the development of L2, and with blob data, the sequencer cost is further dropped.

Since the beginning of this year, people all over the world have been paying attention to the U.S. election.

On the one hand, against the backdrop of increasing political polarization, the lingering shadow of economic recession, and the serious rift in public opinion, the choice of the next president of the United States will have a crucial impact on the direction of the country's political situation. On the other hand, the transmission of high inflation, the intensifying trade war and the development of economies, the future of the global economy also needs to be watched by the US election.

On November 5, the 2024 U.S. presidential election will be held as scheduled. Judging from the current situation, it is not surprising that this year's US president will be chosen between Biden, the 81-year-old representative of the Democratic Party, and Trump, the representative of the Republican Party, who is known for his crazy words. In order to win votes, both will chant and make speeches to articulate their political intentions and electoral commitments, including economic, demographic, gender, educational, and military issues.

But unlike in the past, encryption has also been included in the agenda of this presidential war this year. **

Not long ago, Trump suddenly said he would accept Crypto Assets as campaign contributions and encouraged voters who support Crypto Assets to vote for him, "President Joe Biden doesn't even know what Crypto Assets are, if you like any form of Crypto Assets, if you support Crypto Assets, you'd better vote for Trump." ”

This is not the first time Trump has shown his support for encryption. **As early as December 15, 22, Trump announced the issuance of 45,000 NFTs through the social media site he founded, TruthSocial, with a starting price of $99 each, and the purchase of 45 digital trading cards will give you a ticket to dinner with Trump.

Judging from the design of the NFT, each card in the series has an illustration of Trump's personal image, perhaps to satisfy the individual's desire to perform, the NFT series is designed as a Trump version of the image of a superhero, bullboy or astronaut, full of personal characteristics. Interestingly, on the eve of the launch, Trump had posted on Truth Social that "America needs a superhero" and also emphasized that there were "important announcements" to be announced. In response, Biden quipped Trump, saying, "I've had some big announcements over the past few weeks..... too. ”

Trump's NFT collection, source: public information

At the beginning of this year, it released its third "Mugshot" NFT collection. Despite the suspicion of being played for suckers, Trump still kept his promise. On May 8, Trump flew back to Florida after a court appearance to have dinner with buyers who purchased more than 47 Mugshot Edition NFT trading cards. At the dinner, Trump once again said wildly, "We have done it (big selling) before NFT is popular." We're going to make NFTs hot again. ”

Trump claims to make NFTs hot again, source: X platform

It should be emphasized that in addition to the Bitcoin NFT that is still in the residual temperature, the current NFT field can be called a scenery that is not there. In terms of Ethereum, not only the blue-chip NFT series, which is a price support, fell by more than 20% overall, but the volume and market capitalization also fell sharply, according to CryptoSlam, the Ethereum of the once NFT base had sales of $241 million in April, almost 50% Slump compared to $489 million in sales in March, setting the worst monthly NFT performance since October 2023.

It is unknown whether Trump can really make NFTs great again, after all, the United States is not great again under its leadership, but in this move, encryption has really been brought to the election by Trump.

**From the current partisan attitude towards encryption, longest Democrats led by Biden tend to be cautious about encryption, especially after the collapse of FTX, the Democratic Party has firmly established the direction of strict regulation. A clear sign is that Gary Gensler, the chairman of the US SEC who is longest criticized by encryption people today, is a long-time donor to the Democratic Party, who previously served as the chief financial officer of Hillary Clinton's 2016 presidential campaign, and the Democratic Party has a strong banner. The longest Republican Party, led by Trump, may have shown a rare tolerance towards encryption in order to show that political differences attract votes. **

In fact, looking at the election as a whole, although encryption is only a very small part, this does not mean that it is not important, on the contrary, small topics with large differences will affect voter support longest. **

According to an online survey of long,000 voters in each state commissioned by DCG in early April, Crypto Assets has a strong presence in several swing-key states — Arizona, Michigan, Montana, Nevada, Ohio and Pennsylvania — with data showing that about 18 percent of voters — or 3.4 million people — hold digital asset in those states. And in 2020, Trump narrowly lost three swing states.

Perhaps for this reason, since the official start of the election in January this year, longing candidates have expressed their support for encryption. In addition to Trump, US presidential candidate Robert F. Kennedy Jr. (nephew of former President John F. Kennedy) is also a staunch supporter of encryption, "Crypto assets are our outlet for the Fed's addiction, which is the best hedge against inflation." It stripped the government and monopoly banking system of control, which used money printing to transfer wealth to billionaire Oligopoly while impoverishing ordinary Americans. If you agree that crypto equals freedom, please help me advance this vision as president. ”

** It seems that there has been a surge in partisan support, however, if you are careful to observe, there are not a few presidential candidates who oppose water in the election. ** Take Trump as an example, in 2019, his attitude towards Bitcoin was still very different, saying on platform X, "I am not a fan of Bitcoin and other Crypto Assets, Crypto Assets are not coins, and the value Fluctuation is large, there is no physical object, it comes out of shorts, it is not regulated, and these factors make Crypto Assets available for illegal activities, including drug trading and other illegal activities." In 2021, Trump once again reiterated his personal opinion, saying that "Bitcoin looks like a scam." I don't like it because it's another coin that competes with the dollar. ”

But just a few years later, Trump has become a supporter and follower of encryption, trying to make NFTs great again, and even insinuating that an 80-year-old man is not proficient in using encryption software.

The reason for this is that the rapid development of the encryption industry in the United States has become an important reason. In 2022, 9.6% of U.S. adults owned Crypto Assets, up from 0.6% in 2015. After the passage of the ETF, more long Wall Street institutions have also entered the encryption world, and according to the data, 11 ETF have absorbed $52 billion in assets. If you observe the United States, the US government has more than 200,000 BTC custody on the on-chain, worth more than $6 billion, becoming the first mainstream government Holdings in the world. In addition, encryption itself expresses the separation of censorship and control, which is highly consistent with the current American society with ideological detachment and a huge gap between rich and poor. Due to its natural financial advantages, even in some third world countries, such as Nigeria and Ethiopia, Crypto Assets have surpassed fiat currencies. **

SDCPC survey of encryption holders in the United States, source: SDCPC

Of course, even so, the young people who actually occupy the votes are still in the minority, which may be the reason why Biden's party is not interested in them. From a deeper analysis, the establishment behind the Biden Party is longest conservative and traditional, and party supporters themselves have expressed strong opposition to Crypto Assets that threaten the hegemony of their country's fiat currency. However, in order to show independence, other parties will automatically choose the opposite political position, and the call for freedom and equality has become an important means of partisan competition.

If you look closely, neither the Democratic Party nor the Republican Party has actually studied and paid attention to the encryption field. **For candidates, the encryption industry is just a tool, a basis for representing votes, and it is enough to show an appropriate attitude when necessary, and even candidates who claim to support in advance may face other pressures to fight back after taking office, after all, Crypto Assets is only 1% of the financial volume compared to the traditional world, and it is far less important than the welfare and education issues that affect the people. From this perspective, all partisan attention to encryption is only temporary. **

Sadly, partisan support is particularly important in the encryption space. In recent times, the SEC's regulatory tentacles on encryption have gradually extended from centralized institutions to decentralization projects, and Metamask, Uniswap, and self-hosted wallets have become regulatory targets, which undoubtedly makes the encryption market panic. If Decentralization projects are considered to violate securities laws, other projects can only be played people for suckers.

In the run-up to the election, frequent law enforcement activities have also created a sense of conspiracy theories in the market, and the SEC seems to be taking sides. In this context, the encryption industry can only fight for its rights and interests through the general election. According to a report by Public Citizen, external lobbying teams related to the Crypto Assets industry have raised more than $102 million to lobby for upcoming U.S. congressional elections to support digital asset-friendly candidates. David Bailey, president of marketing at Azteco, tweeted that they have been working with the Trump campaign over the past month to set the Bitcoin and Crypto Assets policy agenda.

In the early morning of May 9, the U.S. House of Representatives passed the SAB121 repeal bill, which is intended to dismiss the U.S. Securities Commission's (SEC) employee accounting announcement (SAB121) on encryption asset custody and recognition in 2022. In this encryption case, in order to ensure transparency, the custodian needs to include the encryption Financial Institution encryption assets in the liability column of the balance sheet, and in order to ensure the balance of assets and liabilities, the asset column should also be increased by the same amount, which undoubtedly increases the custody cost of the custodian and violates the basic principle of uniform treatment of assets.

Therefore, as early as 22 years ago, the plan received longest criticism. The passage of the House of Representatives is an important part of the encryption political resistance. In this regard, Biden expressed strong opposition, saying that the resolution affected the normal enforcement of the SEC, and if the president received the delivery of the resolution, he would reject the proposal. But on the other hand, there is no monolith within the partisanship. In view of Trump's shift in attitude towards encryption, some party aides have suggested to Biden that the regulation of the encryption industry should be reversed in due course.

It can be seen that the game between the two parties will continue before the long wick candle is encryption, and encryption is still difficult to say victory before the dust settles. In the long term, with the rapid rise of encryption adoption, the political ecology of voter hijacking may also come to the fore, as there are precedents in regions such as South Korea and Argentina where adoption is concentrated. But in the short term, encryption may be a short-lived theme in the campaign.

** Back to the encryption world, for Lezi people, the heat of the general election is naturally undoubted. **

Secondary Market moved with the wind, there was an election MEME coin, and the "BODEN" and "TRUMP" in the name of Biden and Trump constituted an alternative guessing ecology. Previously, BODEN, as the MEM coin of Biden's election, had created a hundredfold pump in a short period of time, and this year's election determined who would spend the hundredfold pump.

As of press time, BODEN and TRUMP were at $0.26 and $8.66, respectively, up 14.6% pump TRUMP24 hours.

Source: Bitcoinist

Compilation: Blockchain Knight

The next two weeks could be decisive for the crypto industry,** as it faces major legislative developments in the U.S. Congress that could reshape the regulatory landscape for digital assets in the United States. **

The industry is closely watching the upcoming Senate vote on the repeal of Employee Accounting Proclamation No. 121 (SAB 121). SAB 121 was originally issued by the SEC (United States SEC) and requires Financial Institution to list the digital asset in custody for customers on their balance sheets.

This approach differs from the traditional treatment of custodial assets, which do not consider custodial assets as part of the company's own balance sheet. Critics argue that this could unfairly exaggerate the bank's assets and liabilities, leading to increased capital reserve requirements and potentially killing the rise of crypto custody services.

Last week, a bipartisan effort in the House of Representatives to repeal the rule saw 21 Democrats join the ranks of Republicans.

Ron Hammond, director of government relations at the Blockchain Association, said via X, "Last week, 21 Democrats voted hard and joined Republicans in repealing the SEC's SAB 121. This is an issue that is important to both banks/crypto assets, and is a personal priority for SEC Chairman Gensler."

The Senate, led by Senator Cynthia Lummis, is expected to follow suit this week. However, President Biden has said he plans to veto the bill, which would require longest two-thirds of Congress to override the veto. **

"With so few longing votes in both the House and Senate, we've seen a number of Congressional Review Bills (CRAs) put on the president's desk on a bipartisan basis, but all failed at this stage," Hammond said. It would take a two-thirds vote in Congress to overturn. Biden plans to veto this bill, so he has to climb this difficult mountain."

Another key legislative item on the agenda is a bill introduced by Reps. Larry Bucshon and Lisa Blunt Rochester.

The bipartisan initiative is scheduled to vote this week for the Commerce Department to serve as the president's chief adviser on Blockchain issues. The bill also proposes the creation of an advisory group within the Department of Commerce to further integrate Blockchain technology into federal governance and policymaking.

Another high-profile legislative push is the upcoming vote on FIT 21, which will take place on May 23-24. Written by House Financial Services Committee Chairman Patrick McHenry,** the bill represents the first comprehensive attempt to establish a regulatory framework for crypto assets at the federal level. **

Hammond emphasized, "FIT 21 is a valuable achievement of Patrick McHenry and the first time Congress has voted on a regulatory framework for crypto assets. It's a moment that's been nearly a decade in the making."

The bill has attracted a great deal of attention, and its amendments have been crucial in shaping its final form, appealing to both Democratic and Republican lawmakers.

These legislative efforts come against the backdrop of heightened regulatory scrutiny by SEC Chairman Gary Gensler and the Biden administration's increased concern about the alleged risks of crypto assets.

The government believes that SAB 121 is essential to protect investors and maintain the stability of the financial system. Conversely, Congress and longing in the industry argue that the SEC's current practices hinder innovation and fail to provide clear compliance guidance.

In addition, the intersection of Crypto policy and election-year dynamics should not be underestimated. **

With former President Trump's recent endorsement of crypto assets and their bipartisan potential, crypto asset policy is becoming an important campaign issue.

"There's little political risk of Trump stepping into the crypto space, but it would be of great benefit given that both parties won the campaign for crypto assets in the primaries," Hammond noted. This positions crypto assets as a unique issue that can influence the demographics of the electorate, especially younger voters who have shown a sustained interest in digital asset technology."

Original Author | Lens Protocol

Compile | Odaily Planet Daily Nanfang

Lens announced the launch of the Lens Network, designed to support mass adoption of Decentralization Social Web.

Lens' vision is to make social shorts more open and equitable. Openness means that there are no restrictions at the protocol layer – everyone can connect to the network and participate. Equity means that everyone can benefit from social shorts without worrying about censorship and profit from more balanced coin opportunities.

To lay a scalable foundation for the future of social shorts, Lens chose what Lens considers to be a robust and forward-looking technology, zkSync's ZK Stack, to develop the next generation of Lens.

Lens hopes that the digital social shorts will no longer be fragile and controlled by social media giants; A user-centric internet will become the new normal.

On-chain network

Today's social media networks trap users within walls controlled by corporate giants. These companies hoard user data on private servers, limiting users' control and ownership. Switching platforms in Web2 means starting from scratch and taking a lot of time to rebuild your social capital. This lack of data ownership and control not only imposes high switching costs for users, but also hinders competition and innovation, which is unfair.

The on-chain network subverts this model, enabling users to own their social media identities and connections. In on-chain Social Web, users are free to move their data and connections between social media apps. creates an environment of less censorship and more long for free speech.

Extended Decentralization Social Web

Historically, on-chain networks have struggled to support the high throughput required for mainstream applications. Building Decentralization, secure, and scalable systems is a challenge. In order to achieve all three, there are often trade-offs**. In order to artificially increase scalability, on-chain networks are forced to make compromises that weaken security or decentralization. This is what Vitalik Buterin calls the Blockchain "trilemma."

Networks typically charge the same security costs for all transactions, which is why Social Web cannot take advantage of on-chain security at scale.

As a result, developers have chosen between scalability, security, and cost. For Social Web, we need to ask ourselves whether Social Web transactions require the same security and data integrity as financial transactions.

While social transactions may not require the same level of security as financial transactions, fair and open social shorts do need to ensure that users are protected from data monopolies and walls. On-chain security shifts power from the enterprise network to users. When users own their social capital, they become "mobile citizens", able to bring their social capital (identity, content, and relationships) to any social shorter of their choice.

Solve the Blockchain "Trilemma" in Social Shorts

Ethereum provides basic security for DApps, supporting a high degree of composability and programmability, which come from the EVM. Recently, Optimism Rollups and ZK Rollups expanded the Ethereum network. ZK Rollup has longer advantages over Optimism Rollup, including more advanced data compression techniques that will be published and validated on L1.

Although Rollups offer significant Transaction Cost advantages, especially after the EIP-4844 update, scaling social interactions remains challenging. When using Optimism Rollup, data must remain correlation and accessible over a period of time to check proof of fraud proof. This is more expensive on L1. Rollups excel in financial applications such as Decentralized Finance precisely because they inherit the strong security of L1, ensuring the final transaction record. Even if the rollup is breached, the L1 data can reveal fraudulent transactions and start the process of recovering funds from the Ethereum network. While social use cases don't require the full rollup state security that Ethereum provides, security inherited from Ethereum to some extent is critical to ensuring data integrity.

Further horizontal scalability can be achieved through solutions such as zkSync's hyperchains, which use ZK proofs to communicate seamlessly while handling each other's state and transactions independently. They are connected to a public bridge on Ethereum, enabling security while maintaining decentralization and low costs, reaching the scale of millions of secure transactions per second. This breakthrough paved the way for the mass adoption of on-chain Social Web and solved the "Blockchain trilemma".

Validiums and Volitions

Validium is a scaling solution that uses ZK compression technology to compute and publish state transitions to Ethereum after compression and batching, while publishing the state itself to a separate DA. By dropping costs, Validiums are ideal for price-sensitive Social Web.

Validium's modular approach, which separates security and data availability, combined with ZK compression technology, ensures that social transactions maintain data integrity with the right security while maintaining scalability.

Financial transactions are also essential for everyday social web, and the benefit of being on-chain is that it provides a programmability financial pathway. These financial avenues can support a more equitable redistribution of economic benefits, creating a better on-chain economic engine for creators, users, and developers.

Volition is an extension setup that makes it possible to implement two different trading strategies on the same extension infrastructure. Validiums are used to publish state transitions to Ethereum while storing state on DA providers, while Rollups can complete financial transaction settlements on Ethereum while maintaining synchronous interoperability.

Lens Network based on a hybrid architecture

Lens has officially announced the Lens Network Expansion Infrastructure, designed to support mass adoption of Decentralization Social Web. Based on the ZK Stack, Lens Network will be able to handle concurrent and instant transactions while ensuring data integrity. Lens Network will initially launch as an EVM-compatible validium chain secured by Ethereum and transform into a Volition network based on the ZK Stack of zkSync in Phase 3.

Phase 1: Seed - Validium on Ethereum

Phase 1 establishes the initial infrastructure for scalability. Lens Network uses validiums to ensure that a user's social activity is always verifiable. Enable both features necessary for Social Web, including private interactions (e.g., email) and public social interactions (e.g., posts), as well as public financial transactions. **

The validium batches all transactions and generates a ZK proof that proves that all state changes are valid. This proof is then submitted to Ethereum, ensuring the integrity of the network.

Phase 2: Rise - Bring in DA providers

In Phase 2, Lens Network will create separate and synchronized public and private validium chains to support a variety of Social Web use cases with varying levels of private and public interaction. Public validium chains use DA providers to guarantee the security of public state data. Private transactions rely on a self-protection system within a private validium, and these transactions are submitted to the Ethereum Blockchain for verification by preparing batch proofs, but are not required to publicly disclose the data.

Phase 3 : Full Bloom - Full Volition

Phase 3 improves the security and user control of transactions by combining ZK Rollup and Validium technologies. The main change is that Ethereum will secure financial transactions within the public rollup component. Users can choose to use Ethereum DA to secure financial transactions more securely, while Validium to secure social transactions and settlement them to a separate DA. Private transactions for private use cases are handled in separate instances.

Next-generation Lens Protocol: Cross-chain hub

New Lens protocol releases will be developed and rolled out on the Lens Network as a hub of Social Web for the entire Lens user base. The new version of the Lens protocol will not only be a shared Social Web, but will also operate as a cross-chain protocol, with its main hubs on Lens Network and zkSync. New versions of the Lens protocol can also be deployed on other EVM and non-EVM networks. Our goal is for developers to build their social apps on any supported network and connect to the Lens user base through technologies like CCIP.

User experience improvements

Lens Network is designed to provide a smooth user experience comparable to Web2 while providing next-generation ownership and coin capabilities. Lens will leverage account abstraction to enable transactions without paying gas and signatures, and will support embedded Wallets. The cross-chain of each network will also become easier, and it is planned to achieve sub-second transaction times. to create more open and equitable social shorts where everyone can participate and enjoy.

Roaring Kitty, the "retail stock god" behind the GME short squeeze, has set off a crazy meme boom in both the US stock market and the encryption market after returning to the public eye after three years. At present, the GME popularity is still continuing, and the related memes in the encryption market are also showing a hundred flowers. In the face of splashing traffic, which meme coins are encryption degens charging?

GME Concept

The "GME stock god" returned, and GME naturally became the hottest hype target, but due to the excessive influence of Roaring Kitty, GME appeared longest imitation plates. However, although the consensus is somewhat scattered, the flow of retail stock gods is enough to support every "GME imitation" to gain a huge big pump in a short period of time.

In the new "GME imitation disk" of the public long, the GME deployed on the Ethereum has been favored by more long degen due to the "Ethereum ecology + low circulation market capitalization", and has gained dozens of times pump in the past two days, and the GME of the Base ecology has also created a record high under the support of the "Base Season". The Solana ecosystem has GME-related meme coins, so the new imitation disk pumped in a short period of time and then died quickly.

At present, the GME heat of US stocks is still continuing, but the "GME Consensus" of the encryption market is gradually converging. The GME meme coins of the above-mentioned Ethereum, Base and other ecosystems have all retreated sharply today, and only the "old GME" of the Solana ecosystem is still staying at a high level in sync with the US stock GME. At the time of writing, the Solana veteran GME price remained at an all-time high of $0.018, and the market capitalization doubled from the previous day to $12.5 million.

The concept of "Keith peripherals".

In addition to the GME concept, there are also many meme coins around Roaring Kitty (real name Keith Gill) himself, ranging from personal names and personal items to social platforms and movie IPs.

KITTY

KITTY, the meme coin on Solana, was deployed on March 31 this year, using the concept of the name Roaring Kitty, and falls more than 90% on the second day of its launch, but unexpectedly big pump due to the return of Roaring Kitty. A trader who spent about $3,000 on 17.4 million KITTY the day before Roaring Kitty's tweet is now making more than $100,000 in profit from this tweet. In addition, there is also a related meme market capitalization combined with Solana native meme coin coin WIF RWIF (Roaring Kitty Wif Hat) has also been climbing since its launch yesterday, hitting a 10-fold pump in 24 hours.

The Magig 8 Ball, the "prophecy ball" often used by Keith himself in a YouTube live broadcast three years ago, has also been turned into a meme coin M8B by the community today, but at present, M8B does not have a very good traffic effect due to the concept is too niche.

Reddit

In February 2021, the Wall Street Journal published Keith Gill Drove the GameStop Reddit Mania. He Talked to the Journal.", interviewing Keith about the entire GME short squeeze incident. On the eve of the GME short squeeze movement, Keith himself on the Reddit platform to the well-known retail investment community WSB (Wall Street Bet) crazy Amway GME stock, after convincing WSB, Keith and WSB joined forces to support GME on social media, and finally achieved the feat of retail investors against Wall Street.

After Keith's return, the Reddit concept meme coin on Solana has also become the "target" of degen retail investors, hitting a record high after a few months of zeroing, but because the consensus is not as good as GME, the REDDIT price is also 50% slump today.

DUMB MONEY

Last year, Keith Gill's GME story was adapted into a movie called "Dumb Money" by Hollywood, which once again caused a stir on social media. Based on Ben Mezrich's new book, Anti Social Web, the film focuses on the story of retail investors in the Reddit WSB community huddling against Wall Street.

According to Dexscreener Solana, DUMB has become the number one Token in the Solana ecosystem by the time coin of writing, with a maximum of 10 times pump in half a day.

"Wall Street Meme Stock" concept

In addition to Keith, the god of retail stocks, "Wall Street retail investors" and related concepts dubbed "meme stock" by the media are equally important, so they have also "benefited a lot" in this meme market.

AMC

After the GME staged a short squeeze, US stock retail investors were highly motivated, and once again staged a short squeeze on AMC, a stock that was also jointly shorted by Wall Street institutions and media. Since then, GME and AMC have become the head representatives of the concept of "Meme Stock", and as long as there is traffic, it must be the appearance of the first foot.

In this wave of GME meme, the AMC concept meme coin on Solana has performed no less than GME. Also months after zeroing, AMC has hit an all-time high of nearly 3 times its all-time high in the past two days, remaining around $0.02 at the time of writing, with a market capitalization of more than $20 million.

WSB

Of course, GME fever must be indispensable to WSB, since GME short squeeze, WSB has become famous, so the meme coins related to it have a "long history". The most orthodox WSB concept meme coin was deployed on Ethereum at the beginning of last year, but after a brief big pump, it did not escape the fate of returning to zero, and even under this "return to favourable information", WSB was unable to return to historical highs.

HALT

After Keith's return yesterday, the US stock GME pumped again after more than longing years, so the term "pump stop" (Halt) has also become a meme concept that can be charged. Today's Solana appeared on with the concept of "pump stop" meme coin HALT (Solana Exchange Commission), which aims to satirize Wall Street institutional Airdrop and the New York Stock Exchange. According to Dexscreener, HALT ranks second on the Solana Token popularity list so far.

The impact of Keith's return is beyond everyone's influence, and since all his current operations are just crazy videos on X, the market has left enough expectations for the further development of the "return narrative". It is foreseeable that the GME heat will continue for some time, but in the context of insufficient liquidity, this heat may not be able to support all related concepts to blossom, and finding the strongest consensus may be the opportunity. U.S. stocks aside, as far as the encryption market is concerned, the hot meme tide is a fast running game, so you degens should also be aware of the risks.