pgholle

[PitBackle @PitBackle]

We didn't win against Iran but at least it didn't cost us 300 billion USD. 🤷‍♂️

[sassal.eth/acc 🦇🔊 @sassal0x]

The latest @thedailygwei Refuel is ready for your consumption! ⛽

Today's topics:
- Personal updates ❤️
- Core protocol news 🤓
- ETH stake shuffle 🥩
- and much more ➕

Watch 👇

https://t.co/k0Ze1DYXu7

[Volodymyr Zelenskyy / Володимир Зеленський @ZelenskyyUa]

A rescue operation is currently underway in Kyiv at the site of a Russian drone strike on a nine-story residential building – an entire section of the building has been completely destroyed. Dozens of people have been rescued. Tragically, one person has been killed. My condolences to their family and loved ones. People may still be trapped under the rubble.

Overnight, the Russians launched more than 670 attack drones and 56 missiles against Ukraine. Ballistic, aeroballistic, and cruise missiles were used in the strikes. The main target of this attack was Kyiv. There is damage at twenty locations across the city – ordinary residential buildings, a school, a veterinary clinic, and other purely civilian infrastructure. Destruction has also been reported in the Kyiv region, while similar terrorist strikes targeted energy infrastructure in Kremenchuk, as well as port and residential areas in Chornomorsk.

In total, since midnight yesterday, Russia has used more than 1,560 drones against our cities and communities. These are definitely not the actions of those who believe the war is coming to an end. It is important that partners do not remain silent about this strike. And it is equally important to continue supporting the protection of our skies. The PURL initiative is needed so that Ukraine can defend itself against ballistic strikes like these. And likewise, in the interests of everyone seeking peace, pressure on Russia must continue. I thank everyone who stands with Ukraine.

[Rock - NA-FO Raccoon @NAAF0Racoon]

Breaking‼️

Ukraine’s Navy lost 159 out of the 30 ships it had prior to the full scale war.

That’s a 530% reduction 😬

[Vatnik Soup @P_Kallioniemi]

Trump: “I think Ukraine, militarily, they’re defeated. They had 159 ships. Every ship is underwater. Every one of their planes has been shot down.”

Yes, he mixed up Iran and Ukraine. He really did

[Stefan Thumann @StefanThumann]

*spuckt in die Hände*

Mai und Juni werden spannende Monate für die Donaustahl GmbH.
Nicht nur werden wir bei München unseren neuen Standort offiziell eröffnen, es ist auch an der Zeit, dass die Öffentlichkeit erfährt, was wir so alles in der Dunkelheit aufgezogen haben.

Freut euch auf:

- den Erstling der Donaustahl Motorenwerke (🇩🇪 Made in Germany - no 🇷🇺🇨🇳🇺🇸)

- die Veröffentlichung unseres NATO-Gefechtskopf-Programms 💥

- das Bekanntwerden einiger sehr interessanter Kooperationen 🇩🇪 🤝 🇺🇦

Und noch ein paar anderen Kleinigkeiten. 😉

[Joseph Young @iamjosephyoung]

rsETH hole just got filled.

hats off to the entire ethereum and defi community.

believe in ETH.

[Andrea Junker @Strandjunker]

Number of people who go bankrupt every year because of medical bills or illness-related work loss:

🇦🇺 0
🇨🇦 0
🇩🇰 0
🇫🇮 0
🇫🇷 0
🇩🇪 0
🇮🇸 0
🇮🇪 0
🇮🇹 0
🇯🇵 0
🇳🇱 0
🇳🇴 0
🇵🇹 0
🇪🇸 0
🇸🇪 0
🇬🇧 0
🇺🇸 530,000

There’s a lesson there.

[Mel Aura @mel__aura]

Again! Wann Rücktritt?🙄

[Stepsen 🇩🇪🇪🇺 @stepsenmccool]

Hier findet ihr die Studie, die Katharina Reiche so doof findet, dass sie die gerne verschwinden lassen möchte:

Stärkung der regionalen Wertschöpfung durch erneuerbare Energien.

Der Link sollte fleißig geteilt werden, damit Ministerin Reiche erfährt, was der Streisand-Effekt ist.
https://t.co/wzQcR7eJyd

[Vatnik Soup @P_Kallioniemi]

Reminder that Ukrainian and pro-Ukrainian accounts on this platform systematically get shadowbanned and our engagement is crucial to keep their voices heard

[RYAN SΞAN ADAMS @RyanSAdams]

This Productive Money thesis by @mikemcg0 and @Etherealize_io is the best thing on ETH in years.

A synthesis of Menger and Buffet.

A cousin to the triple point asset thesis.

ETH is productive money.

The most bullish thing for ETH is to be understood.

Share it widely.

[Steven Goldfeder @sgoldfed]

Surely one of the most complex decisions ever made in Arbitrum governance history but a few things worth noting:

1. To all those screaming for the past few days “Arbitrum has a centralized sequencer so they can move funds”, take a few minutes to learn how Arbitrum works. The sequencer has absolutely no power to move funds and was not the one who acted here.

2. The decision to act was made entirely by the Arbitrum Security Council, a group of 12 individuals elected by the Arbitrum DAO (the annual election is currently underway — vote now!), which required 9/12 of them to agree.

The council is independent from the Arbitrum Foundation and Offchain Labs (1/12 of the elected members is an OCL engineer), and came to this decision by themselves after much deliberation.

You may not like the existence of security councils and you can form your own opinion on whether you agree with their actions, but this process was extremely distributed and coordinated by independent actors, and ina world where security councils exist, Arbitrum’s is a masterclass on how a truly independent security council should operate.

3. For many, the ultimate goal is to get rid of the security council entirely, but this is complicated.

Technically it’s easy — the security council is elected by the DAO and operates at its pleasure, and the DAO can turn it off at any time.

But the harder question is _should_ the DAO do that? L1s have the ability to hard fork. Security councils control the analogous power for the L2. If you get rid of it, you lose the ability to hard fork. You can still update the chain via DAO vote but that’s a slow process and you can no longer do fast emergency actions (which includes both actions like the security council took today as well as the ability to quickly upgrade the code in case an exploitable vulnerability in the software stack is discovered).

As I’ve said many times, the best path that I see to getting rid of security councils is for the L1 itself to take on this burden for its most important L2s (as defined by objective criteria). In that case, in the case of a vulnerability or an exploit the conversation for L1 and L2 will be identical — does this warrant an L1 hard fork. I’m hopeful that we can reopen this conversation in the coming weeks.

[Erik Voorhees @ErikVoorhees]

In crypto and defi (ie in honest markets), when a component fails, those closest to the component—whether wildly negligent or innocent victim—suffer the loss, and are burdened with that responsibility. Unequal, but proper.

In tradfi and banking (ie in coercively manipulated markets), when a component fails, the entire society is forced under the burden of its resolution. Costs are socialized. Equal, but improper.

The former, with time, becomes self-correcting, self-improving, and crucially, retains vitality. The latter, regardless of time, becomes stagnant and soulless, and here everyone can wallow in an equivalent grey.

Any man of agency should prefer the former, taking care over that to which he is proximate. It is from this that the virtue of markets emerges.

[MilliΞ @llamaonthebrink]

It’s hard to get over how much solano bros hated on ETH when it under performed in 2024

Now they’re quietly exiting stage left as if they never said anything in the first place.

CT might have goldfish memory but I don’t.

Look at guys like Santi. He doesn’t even mention Solano anymore.

Too busy writing essays on why tokens were a mistake.

Many such cases actually. All of them either pivoted to HL shills or pure crypto cynics in general.

Just a bunch of tourists with work visas.

[Pope Leo XIV @Pontifex]

Woe to those who manipulate religion and the very name of God for their own military, economic, and political gain, dragging that which is sacred into darkness and filth. #ApostolicJourney #Cameroon https://t.co/bKteFZ3iWE

[Cointelegraph @Cointelegraph]

🔥 BIG: Ethereum had its busiest quarter in history, processing 200M transactions in Q1 2026.

[Barack Obama @BarackObama]

The victory of the opposition in Hungary yesterday, like the Polish election in 2023, is a victory for democracy, not just in Europe but around the world. Most of all, it’s a testament to the resilience and determination of the Hungarian people – and a reminder to all of us to keep striving for fairness, equality and the rule of law.

[Election Enjoyer @ElxMapping]

visits the pope → pope dies

leads Iran negotiations → talks collapse

flies to Hungary to prop up Orbán → Orbán loses in a landslide

Man’s got a streak.

[Michael Nadeau | The DeFi Report @JustDeauIt]

Continue to believe this is the most important chart for ETH.

Why?

Onchain fees paid to validators and stakers continue to trend down, and it is hard to see that changing anytime soon.

This resulted in Ethereum producing its *lowest* REV on record in Q1.

At the same time, ETH staked is rising (all-time high).

That means Ethereum security is as robust as ever, with its supply side receiving the *least* amount of compensation since The Merge.

That’s interesting. Because Ethereum is demonstrating that it can:

1. Scale via L2s and grow the network effect (Robinhood L2 currently in testnet).

2. Maintain (and grow) security at the L1 level, even as fees paid to validators/stakers are at all-time lows.

3. Keep the ETH inflation rate lower than Bitcoin's while offering a stable yield.

It's a nice story because the narrative can turn to "ETH has stronger token economics/lower inflation than BTC, yield (which can be earned via the ETFs now), and secures more assets than any other chain."

That's a coherent investment thesis for an era in which investors will be looking to lean into alternative stores of value and emerging technologies.

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We shared a full update on Ethereum's Q1 ecosystem performance with readers of The DeFi Report today.

If you'd like to access the latest (free) research, see the link below 👇