Circle 🤝 @openmind_agi
We’re excited to collaborate with OpenMind to develop foundational standards for machine-to-machine payments.
Together, we plan to bring USDC-powered micropayment protocols to life and shape the infrastructure for autonomous, real-world AI transactions.
Read our agentic payments proposal on the x402 GitHub: https://t.co/mg9YNwhQoW
In anticipation of Fusaka and EIP-7918, I built a little somETHing.
I present to you: https://t.co/QSxtb5mFhw
This website simulates the fees and the resulting burn from EIP-7918 as if it were live already.
Yes, (theoretically) today all existing ETH would have been burned many times over under EIP-7918.
Wait... but why? When blob fees basically burned nothing consistently for the last months, how would that change so drastically now?
Isn't this absurd?
Well, no, because in the past it took ~50 minutes of nearly full blobs to even come close to a fee range that would have a measurable impact in $ terms.
EIP-7918 in Fusaka now introduces a moving fee floor for blobs via a reserve fee, which is derived from the execution gas fee.
This fee floor is many “million” times higher than the current floor of 1 wei right now.
That means tiny, but finally noticeable, amounts of ETH are now being burned regularly from blobs, even at times of lower blob congestion. At the same time, we'll enter price discovery much (much) sooner compared to before.
This leads to the absurd amount of ~5.1M ETH (theoretically) burned during the last hour.
While under the old regime that wouldn’t even have made an impact on fees, under the new reserve fee, having even smaller periods of blob congestion will let the blob market enter price discovery.
Obviously, the result will not be 5.1M ETH burned, it will be rollups adjusting to a new reality... The reality of having to pay an actual market price for the resources they use.
This project is still in a very early stage, but I definitely wanted to launch this before Fusaka, so here it is!
A fun little blob explorer 🔥
(Follow @blobs_money for updates and some interesting blob burn stats later this week.)
Mainnet genesis has occurred. USDC transfers are open.
In the quiet corners of the ether (not that one), a spark was lit.
Infrastructure and validators have been onboarding behind the scenes in preparation.
Not because it’s easy, but because it’s hard 🧵
The Fusaka upgrade is almost here.
PeerDAS (EIP-7594) is one of the key features helping Ethereum securely scale.
It unlocks up to 8x data throughput. For rollups, this means cheaper blob fees and more space to grow.
Ethereum’s next major upgrade, “Fusaka”, goes live in less than 48 hours.
I read all 13 EIPs being included so you don’t have to.
So, here are 13 tweets (with diagrams) to explain the 13 upgrades in simple terms: 🧵
Tokenization is shaping the next evolution of global markets. In @TheEconomist, Larry Fink and Rob Goldstein discuss how tokenization can modernize market infrastructure, enhancing efficiency, transparency, and access by connecting traditional and digital finance. Read more: