Ethereum’s Pectra upgrade went live on 7 May, with the overhaul placing emphasis on user and validator experiences. For example, EIP-7702 allows externally owned accounts (EOAs) to temporarily upgrade to contract accounts, enabling users to enjoy benefits such as transaction batching and gas fee sponsorship. According to Dune, 4,748 transactions were related to EIP-7702, and a total of 10,009 signed authorisations were created by EOA owners to delegate their account’s execution to a specific smart contract at the time of writing.
News Highlights
The Government of Dubaisigned a Memorandum of Understanding (MoU) with Crypto.com to facilitate government service fee payments using cryptocurrencies. This marks a pioneering milestone in digital finance, accelerating the implementation of Dubai’s Cashless Strategy. The partnership will enable seamless, secure, and forward-thinking payments for government services using stable cryptocurrencies, reinforcing Dubai’s position as a global leader in financial innovation.
Ethereum rallied more than 20% after the Pectra upgrade. The overhaul, which improved validator performance and execution efficiency, restored confidence in Ethereum’s scalability and rekindled interest in ETH and related DeFi protocols.
Synthetic plans to acquire Derive, a decentralised options protocol, by issuing 29.3 million new SNX tokens worth US$27 million to swap Derive’s DRV token. If approved, Synthetix would acquire Derive’s treasury, technology, and products, while DRV holders would be able to swap their tokens to SNX at a ratio of 27:1.
Solana-based meme coin launchpad pump.funintroduced Creator Revenue Sharing, an initiative that allows token creators to earn 50% of the platform’s revenue generated by their tokens.
Tether’s new cross-chain stablecoin, USDT0, launched on Hyperliquid. By leveraging LayerZero’s LZCompose functionality, users can transfer the asset between HyperEVM, HyperCore, and the broader USDT ecosystem.
Research Roundup Newsletter [April 2025]: We present to you our latest issue of Research Roundup, featuring deep dives into ‘The Rise of Crypto Treasury’ and ‘Wall Street On-Chain Part 3: Trading & Liquidity’.
Alpha Navigator: Quest for Alpha [April 2025]: All asset classes had mixed performances in April, with BTC and gold taking the lead. US President Trump reduced tariffs on imports from most trading partners and China at the time of writing.
Wall Street On-Chain Part 3: Trading & Liquidity: This report compares liquidity between popular traditional finance (TradFi) assets and major crypto assets, and delves into the development of crypto exchanges.
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DeFi & L1L2 Weekly — 🤝 Dubai and Crypto.com partner on crypto payments for government services; ETH rose over 20% after the Pectra upgrade
Dubai and Crypto.com partner on crypto payments for government services; Over 4,700 transactions related to EIP-7702 were recorded post-Pectra upgrade; ETH’s value rose over 20% after the Pectra upgrade.
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