Preface

This report summarizes important events in the blockchain and cryptocurrency sectors from January 18 to January 24, 2025. These events demonstrate the vibrancy of the crypto market and contain trends for future development. From last week’s Gate Research weekly report: Gate Research: Solayer TVL Reaches New ATH of $434M, as U.S. Congress Addresses Digital Asset Regulation in the “What to Watch Next Week - Crypto Calendar - Crypto Events.”

TL;DR

• Polyhedra launches a new zero-knowledge bootcamp (Explore Expander Bootcamp), featuring five tracks including zkML.
• Tether partners with LayerZero to introduce an omnichain stablecoin, USDT0.
• EigenLayer releases the Rewards v2 protocol.
• Ethereum Foundation will allocate 50,000 ETH to support the DeFi ecosystem, and has already conducted test transactions on Aave

Key Developments and Updates

1/20 Polyhedra Launches New Zero-Knowledge Bootcamp Featuring Five Tracks Including zkML

AI+ZK public blockchain Polyhedra has announced the launch of the Explore Expander Bootcamp on January 20. This initiative provides developers with a unique opportunity to leverage Polyhedra’s cutting-edge zk-proof system, Expander, to drive innovation in blockchain and cryptography—especially in its highly anticipated application within the Ethereum Foundation’s BEAM chain proposal. The bootcamp offers participants hands-on training and mentorship from industry leaders, equipping them with the tools to develop transformative zero-knowledge projects.

Participants will undergo an intensive training program, followed by the opportunity to specialize in one of five project tracks for deeper exploration. Outstanding projects will have the chance to receive funding from a $250,000 prize pool. Polyhedra, in collaboration with major industry players such as the Ethereum Foundation, is bringing together top developers and experts worldwide. The bootcamp aims to accelerate the advancement of zero-knowledge proof technology and contribute to the overall growth of the blockchain ecosystem. [1]

1/20 Tether Partners with LayerZero to Launch Omnichain Stablecoin USDT0

Tether has announced the deployment of its new token, USDT0, on Kraken’s Ethereum Layer 2 network, Ink, marking a major innovation based on LayerZero’s omnichain fungible token (OFT) standard. As the world’s largest stablecoin asset, USDT has previously faced challenges such as liquidity fragmentation and high costs during cross-chain transfers.

The launch of USDT0 aims to revolutionize this landscape, significantly enhancing cross-chain security and enabling zero-loss cross-chain transfers through deep collaboration with LayerZero. Tether’s CEO, Paolo Ardoino, emphasized that the introduction of USDT0 provides a crucial solution for the seamless movement of USDT across different ecosystems, optimizing user experience and addressing market demands. Unlike traditional USDT, which requires a burn-and-mint mechanism via cross-chain bridges, USDT0 allows stablecoins to function as a truly unified liquidity asset. This innovation enables users to transfer the same amount of tokens across networks without loss, significantly improving capital efficiency. [2]

1/21 EigenLayer Launches Rewards v2 Protocol

EigenLayer announced that its Rewards v2 protocol upgrade went live on the mainnet on January 21, marking the successful execution of the first EigenLayer Improvement Proposal (ELIP-001). This upgrade introduces three core features: operator-driven rewards, variable operator fees, and batch reward claiming. These enhancements provide greater flexibility and efficiency to the EigenLayer ecosystem, enabling AVS (Actively Validated Services) to dynamically incentivize operators to meet more specific demands.

The launch of Rewards v2 not only enhances the customization of the rewards mechanism but also significantly optimizes economic incentives and operational efficiency. By introducing the EigenGov governance process, the upgrade establishes a transparent and collaborative foundation for future improvement proposals. This milestone demonstrates EigenLayer’s forward-thinking approach to enhancing decentralized network efficiency and flexibility, laying a solid foundation for continued innovation. [3]

1/21 ETH Foundation to Allocate 50,000 ETH to DeFi Ecosystem, with Test Transactions Conducted on Aave

Vitalik Buterin has retweeted a post from Ethereum Foundation staff member hww.eth (@icebearhww), revealing that the Ethereum Foundation has established a new 3/5 multi-signature wallet and allocated 50,000 ETH to participate in the DeFi ecosystem. The Foundation has already conducted test transactions on Aave using this new wallet. This initiative by the Ethereum Foundation is likely to be seen as a positive signal for both the DeFi and Ethereum ecosystems, potentially boosting user confidence, driving ecosystem growth and maturity, and influencing the broader cryptocurrency market. [4]

Summary

This report summarizes important events in the blockchain and cryptocurrency sectors from January 18 to January 24, 2025. These events demonstrate the vibrancy of the crypto market and contain trends for future development. On January 20, Polyhedra introduced a new Zero-Knowledge Bootcamp with five specialized tracks, including zkML, to boost zero-knowledge proof technology development and enhance the blockchain ecosystem. That same day, Tether launched USDT0 on Kraken’s Ethereum Layer 2 network, Ink—an innovation utilizing LayerZero’s omnichain fungible token standard. On January 21, EigenLayer deployed its Rewards v2 protocol upgrade to the mainnet, implementing its first improvement proposal (ELIP-001). Also, on January 21, the Ethereum Foundation committed 50,000 ETH to the DeFi ecosystem, with initial test transactions completed on Aave.


References:

1. PR Newswire,https://www.prnewswire.com/news-releases/polyhedra-in-partnership-with-ethereum-foundation-worldcoin-and-others-announces-a-new-zero-knowledge-bootcamp-302345243.html
2. X,https://x.com/USDT0_to/status/1879921612838805583
3. X,https://x.com/eigenlayer/status/1881814947509731659
4. X,https://x.com/icebearhww/status/1881413731780821405

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