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Your Weekly Dose of "WTF is going on in crypto" is here 🫡

GM BUIDLers!

In this latest issue of HashingBits, we're diving deep into Ethereum's Core Developers meetings, covering all the major updates in the Ethereum ecosystem. But that's not all - we'll explore the latest happenings in the Arbitrum, Base, and Solana ecosystems, along with advancements in the AI and Web3 space. For developers, we're highlighting new tools designed to assist smart contract developers and auditors.

EtherScope: Core Developments 👨‍💻

• ​Ethproofs Call #2—real-time proving​
• ​eth_simulate Implementers Meeting #49​
• ​Stateless Implementers Call #36​
• ​beam call #6 (3-slot finality)​

L1 & L2 Developments

• ​L2 beats recategorization of projects is going live soon—the update would focus on removing projects without a proper proof system, or without a proper DA bridge as Rollups or Validiums/Optimiums.
• ​Chainlink CCIP is live on Solana
• ​Midas reached 100M in TVL.
• ​Liquity V2 went live on the Ethereum Mainnet.
• ​Circles, create your own money.
• ​Noice launched—monetize every social interaction.
• ​FIFA is launching its custom L1 in collaboration with Avalanche.
• ​Gitfish—tokenize and trade GitHub repos.
• OKX launched xBTC—a new alternative for BTC holders across Solana, Sui, and Aptos.
• ​Doge is coming on Solana—powered by Wormhole.
• ​Valantis has crossed $20M in TVL.
• Anza, a Solana-focused research firm, introduced Alpenglow—Solana’s new consensus protocol, reducing the transaction latency to 100- 150ms.
• Loop introduced their token flywheel​
• ​Hyperliquid reached a new ATH in OI of >$8B.
• GMX announced multichain trading—powered by Espresso and LayerZero
• ​Kamino Lend V2 is live on Mainnet—v2 aims to bring modular lending on Solana.
• ​Grid—Open Finance for Stablecoin Rails
• ​SP1 Hypercube—Real-Time Ethereum Proving.
• ​Dune introduced SIM—real-time multichain data.
• ​OnRe Finance is live with a projected yield of ~40.35%, backed by Ethena, Solana Ventures, and Rockaway X

EcoExpansions: Beyond Ethereum 🚀

Arbitrum

• ​Arbitrum is Scaling. Everywhere.
• ​sUSDC marketcap hit an ATH of $15M on Arbitrum
• ​Spiko Finance is leading the way in making U.S and EU Treasury yields accessible on-chain.

Base

• ​Giza is bringing intelligence to your portfolio.
• ​Superlend introduced SuperFund—a stablecoin savings account on Base.

Solana

• ​Ledger x Solana​
• ​Solana Attestation Service (SAS)—It allows any off-chain data to be associated with a wallet.

Explore the Depths of Knowledge: Research Papers, Blogs, and Tweets🔖

Tweets

• A quick explainer on Socket Chain Abstraction Model—by Lito
• ​Learn how memory works in EVM—by 0xKaden.
• ​The Price of Trust—by Paul Frambot
• The gas costs to verify a zkSNARK proof can be reduced by over 90%—zkSync upgrade proposal.
• ​Understand REV—An Analytical Review by Rubiks.
• ​EF Research last week’s update—by Ladislaus.
• Developers discussed dropping permit2 amid the introduction of EIP-7702
• ​Sei has released a new whitepaper—summary by Pavel Paramonov

Research

• ​Succinct Network Architecture and the PROVE Token.
• ​Pendle—Modular Capital and Spartan Group thesis.

More on Ethereum

• ​A local-node-favoring delta to the scaling roadmap introduced partially stateless nodes to verify blocks without running the full nodes, a step towards making Ethereum private, trustless, and censorship-resistant.

Web3 Security

Articles

• ​Cetus Protocol, a DEX on Sui Network, got hacked for ~$223M—an arithmetic overflow attack.
• ​Web3 Security 2025—An overview by cNoveron.
• A guide to perpetual derivatives protocol and its attack vectors.
• ​Guideline on Auditing ERC-4626 Vaults​
• ​Web2: The hidden layer of DeFi Risk by Guardian.
• A developer found CVE-2025-37899, a zero-day vulnerability using the OpenAI o3 model.
• ​Guide to invariant testing by Guardian.

Research Papers

• ​LLM-Based Blockchain Smart Contract Vulnerability Management Framework​
• ​An Empirical Analysis of Vulnerability Detection Tools for Solidity Contracts.

Twitter

• ​Recent Downturns in Crypto Security.
• ​EIP-7702 phishing scams have started to emerge—users delegated their EOA to malicious contracts that redirect funds to scammers.

Community Spotlight

QuillAudits | Web3 Security 🥷 @QuillAudits_AI $220M gone in minutes in a major exploit of @CetusProtocol We are going live on X today at 12:00PM UTC with @0xnoveleader to understand what happened in the attack. 🛡️Topic: DeFi under seige: Post-Mortem of the Cetus Protocol Exploit. 🎙 Host: @he2plus, DevRel @QuillAudits_AI 3:58 PM • May 23, 2025 3 Retweets 11 Likes Read 2 replies

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QuillAudits | Web3 Security 🥷 @QuillAudits_AI Security isn’t an afterthought. It’s the foundation. Thrilled to secure Cogitus by @0xZeeve, a modular L1 launcher on @avax From zero-day risk to runtime protection - our AI + manual audits ensure builders ship with confidence🫡 https://twitter.com/0xZeeve/status/1925447841889112244 Zeeve🔺 @0xZeeve 🔺Security meets scale on @avax. Zeeve is proud to partner with @QuillAudits_AI for Cogitus, our modular L1 launcher on Avalanche. @QuillAudits_AI brings 7+ years of expertise & $30B+ TVL secured to ensure multi-layered security to Cogitus, empowering developers to launch with 2:38 PM • May 23, 2025 3 Retweets 10 Likes

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QuillAudits | Web3 Security 🥷 @QuillAudits_AI Nothing hits harder than solid feedback from a client who gets it 🫡 Security ≠ just finding bugs It’s trust, timelines, and real communication. At @QuillAudits_AI, we’re proud to deliver on all three. Let’s keep raising the bar for Web3 security. Shoutout to @grqbera for the 7:39 PM • May 21, 2025 13 Retweets 31 Likes Read 3 replies

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QuillAudits | Web3 Security 🥷 @QuillAudits_AI Love to see this in action. Smarter data → Better diligence → Safer launches. Security starts with context & this integration with @Sentism_ai makes it easier to flag risky tokens before users get rekt. Props to the builders pushing DeFAI forward🛡️ https://twitter.com/Sentism_ai/status/1924390505166905620 Sentism.AI @Sentism_ai 🤝 SentismAI x @QuillAI_Network Integration is Live! We’ve integrated QuillAI to streamline how LaunchOn fetches token data. Now, with just one endpoint, we can instantly retrieve token details using a contract address on any supported chain. Smarter, faster, more precise - 12:12 PM • May 20, 2025 0 Retweets 5 Likes Read 1 replies

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QuillAudits | Web3 Security 🥷 @QuillAudits_AI Audits are your first check post for the Road to Mainnet, we didn’t just say that but we lead it 🥷 Join in for a deeper conversation and expert insights on the topic and bring in your guns (queries) to shoot! https://twitter.com/nex_protocol/status/1924501233584542140 Nex @NEX_Protocol From Audit to Mainnet: Discover What We've Built Don't miss our Space on Friday with @chainlink, @QuillAudits_AI, and @Olympix_ai! We'll talk about the RWA sector, index investing, and our mainnet launch. Set your reminder in the Tweet below 👇 10:28 PM • May 19, 2025 0 Retweets 10 Likes Read 3 replies

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