Weekly Project Updates: Ethereum Community Foundation Is Established, Polygon and GSR Launch Katana, Lido Activates Dual - Governance, etc

Jul 05, 2025

1. Ethereum Community Foundation Is Established, Funding Token — less Projects to Strengthen ETH Value link

Ethereum core developer Zak Cole announced the establishment of the Ethereum Community Foundation (ECF), which aims to promote the institutional adoption of Ethereum’s infrastructure and enhance the value of ETH by funding “non-alterable, no-token” projects. Its funding priorities include real-world asset applications such as on-chain stocks, bonds, and real estate, as well as basic public facility projects like fixing the “blob space pricing imbalance”.

2. World Liberty Financial Community Proposes to Open WLFI Tokens for Trading link

The community of World Liberty Financial, a crypto project linked to the Trump family, has proposed to list the $WLFI token for trading. If the proposal is approved, tokens held by some early supporters will be unlocked for circulation, while founding teams and advisors will remain under long-term lock-up periods. Additionally, the community will vote on the unlocking plan for remaining tokens and the allocation of ecological incentives in the future, with the voting process currently underway.

3. Polygon and GSR Join Hands to Launch Ethereum Layer — 2 Katana, Focusing on DeFi Applications link

Polygon Labs and crypto market maker GSR have jointly launched Katana, an Ethereum layer-2 blockchain centered on DeFi, aiming to address issues of on-chain asset fragmentation and unsustainable yields driven by high inflation. Katana adopts a centralized screening mechanism, supporting only a few financial applications, and uses the VaultBridge protocol to redirect user assets to Ethereum’s Morpho protocol for low-risk lending. The profits generated are then returned to Katana to enhance yield levels for key applications.

4. Sonic Launches SonicCS 2.0, with Consensus Efficiency Doubled and Memory Usage Reduced by 68% link

Sonic Research has released the SonicCS 2.0 consensus protocol, which adopts a DAG architecture and introduces an overlapping election mechanism to parallelize transaction ordering for multiple blocks. The new protocol uses a 0–1 matrix to represent the voting structure and leverages SIMD instruction sets (such as AVX2) to vectorize the election process, accelerating vote and aggregation calculations. Testing over 200 epochs on the mainnet shows that this version has an average speedup of 2x and a 68% reduction in memory usage. The team plans to integrate the protocol into subsequent client versions and will publish a technical report detailing its implementation specifics.

5. Hyperliquid’s Contract Trading Volume Exceeds $1.5 Trillion in the Past Year, with Cumulative Revenue Reaching $300 Million link

The decentralized trading platform Hyperliquid recorded $1.571 trillion in perpetual futures trading volume over the past 12 months. Hyperliquid achieved $56 million in fees and revenue this month, with cumulative revenue reaching $310 million. Hyperliquid’s perpetual contract trading volume was $248 billion in May and $208 billion so far this month, while the total trading volume of other on-chain perpetual contract trading platforms combined was only $140 billion.

6. Ondo and Pantera Capital Plan to Invest $250 Million in RWA Tokenization Projects link

Ondo Finance and Pantera Capital told Axios that the two sides will jointly establish a $250 million “Catalyst” investment plan to support real-world asset (RWA) tokenization projects, with funds to be invested in project equities and tokens. Ian De Bode, head of strategy at Ondo, noted that Catalyst will prioritize projects that can enhance the attractiveness of on-chain assets and promote the construction of infrastructure supporting functions such as 24-hour automatic rebalancing on the chain.

7. Jupiter’s Core Working Group (CWG) Announces Formal Dissolution, No Longer Claiming Remaining JUP Tokens link

Jupiter’s Core Working Group (CWG) has announced its formal dissolution amid a pause in DAO voting and restructuring, stating that the scope of work it was initially set up for has been largely completed and no longer aligns with the current DAO development stage. The CWG said it would no longer claim remaining JUP tokens and has returned all 4.5 million vested $JUP tokens originally obtained to the DAO wallet for other community priorities. Some members like Morten will join the Jupiter team, while others will continue to participate in DAO 2.0-related matters as individuals in the community.

8. PancakeSwap v3 Liquidity Pool Officially Launches on Solana link

PancakeSwap announced that its v3 liquidity pool has been deployed to the Solana mainnet. Liquidity providers can inject liquidity into Solana projects such as BONK, PYUSD, and EURC, with the highest fee share of 84%. Traders can enjoy a transaction fee as low as 0.01%.

PancakeSwap released the latest data: the platform’s trading volume reached $325 billion in June 2025, a record high. The total trading volume in the second quarter of 2025 was $529 billion, a new quarterly high. The cumulative trading volume of the platform has exceeded $1.8 trillion. The growth this quarter is attributed to multiple product upgrades, including the launch of PancakeSwap Infinity, the introduction of cross-chain trading functions, and the continuous increase in trading volume in the Ethereum ecosystem.

9. Lido DAO’s Dual — Governance Proposal Is Approved link

Lido Finance announced that its LDO holders have approved a dual governance proposal. The dual governance adds a new phase, allowing stETH holders to object to LDO decisions. The specific mechanisms include: when 1% of TVL is locked, an additional time lock of 5 to 45 days is added; when 10% of TVL is locked, an “angry exit” is triggered, preventing all proposals from being executed until the relevant assets are withdrawn from the protocol. This mechanism will be officially launched on July 4. Previously, Vitalik Buterin spoke positively about this proposal, saying that although it is not perfect, it can solve key problems.

10. Sky’s New Executive Vote Passed, Enabling SPK Mining for SKY Stakers link

Sky officially announced that the new execution vote has been approved, and the changes will be available for deployment starting at 22:00 on June 30, 2025. A formal announcement will be released upon the completion of the execution. The changes will allow SKY stakers to enable SPK mining, enable SPK mining for USDS suppliers, and execute the third phase of the MKR to SKY upgrade, among others.

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