June 7, 2023
The pursuing station contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, arsenic good arsenic the Grants Council and Ambassador Council from past week.
Spartan Council and SIP updates
Present astatine the May 31, 2023 Spartan Council Weekly Project Sync:
Spartan Council: Adam, Burt Rock, Cavalier, cyberduck, dsacks, Jackson
Core Contributors: Afif, db, KALEB, meb, Mike, noah, sunny, troy
The Optimism Bedrock release is here!! As a reminder, Bedrock is the sanction of the first-ever authoritative merchandise of the OP Stack, which is simply a acceptable of escaped and open-source modular components that enactment unneurotic to powerfulness Optimism. This release volition bring reduced fees, shortened deposit times, improved impervious modularity, enhanced node performance, and improved Ethereum equivalence.
There was a little play of downtime, but each systems are backmost up and moving again and Optimism assured that this would beryllium the past upgrade that required downtime. It was unavoidable successful this lawsuit due to the fact that of the plans to migrate to an architecture that is much aligned with ETH.
Next, the V3 spot marketplace has present been connected Mainnet for 2 weeks! The CCs person been doing QA successful the meantime, and are moving connected bootstrapping it with much liquidity, but are inactive seeking feedback from the Spartan Council.
The escaped people for the Perps V3 audit is July, arsenic a batch of the enactment has been done successful parallel with the spot marketplace work, and this volition let for a testnet competition! Progress has besides been made connected teleporters and the CCs person been successful interaction with Chainlink connected CCIP and moving retired details for transverse excavation synthesis.
During past week’s meeting, Cav asked astir what’s adjacent for the spot market, and Noah said perchance a curve excavation setup with liquidity for the caller stablecoin. He added that it would besides beryllium a bully clip to commencement a speech with 1-inch successful an effort to bring transverse plus swap measurement back. The main happening close present is to statesman investigating the strategy with existent wealth to guarantee that everything is moving properly.
The adjacent precedence is past to get radical utilizing it and gathering retired stats pages, tooling, and different resources truthful that each of that is acceptable for the Perps V3 launch. So present is really a bully clip for governance to let everyone to commencement reasoning astir the rollout program with the halfway strategy and spot marketplace live.
Duck past brought up the taxable of incorporating Thales Overtime markets arsenic a imaginable marketplace successful V3 to let stakers to delegate collateral to these markets and recognize the yield. There are immoderate Thales-specific details to enactment out, but it seems technically feasible according to Sunny (and immoderate of the Grants fund has been acceptable speech for this project).
A bonus vantage of this program would besides beryllium that Thales would not beryllium taking stablecoin liquidity that would person different been disposable to different products, specified arsenic perps. LPs would truthful beryllium minting caller stablecoins against their collateral to beryllium utilized successful these OT markets only.
Lastly, determination was besides a SIP presumption past week — SIP-2021 to adhd steth/usd and wsteth/usd to Synthetix Perps. Matt presented this SIP, explaining that the information is to summation enactment for these markets that is different unavailable crossed centralized and decentralized exchanges. They would alteration emblematic marketplace usage cases, specified arsenic arbitrage and speculation, and person been specifically requested by Lido. Matt thinks these are precise absorbing pairs that cipher other truly supports, and helium thinks Synthetix could enactment them with choky caps and monitoring.
Adam brought up the information that this volition beryllium the archetypal marketplace being added wherever the backing complaint volition exclusively thin 1 way, and it makes consciousness to set to this dynamic dilatory to marque definite determination are nary weird oregon unaccounted for marketplace behaviors.
Kaleb is concerned, however, that determination is nary borrowing capableness anyplace owed to the rebase dynamic (which is chiefly an contented with wsteth). He besides brought up the information that determination is nary liquidity for these markets connected immoderate CEXs, since they are chiefly instruments for usage successful DeFi.
Based connected immoderate of the concerns discussed, it was decided to abstracted the listings into 2 antithetic SIPs due to the fact that a fewer assembly members expressed interest astir wsteth.
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SIP/SCCP presumption tracker:
SIP-2021: Adding steth/usd to Synthetix Perps, Status: implemented