Weekly Hot Project Updates: Ethereum Community Fund Established, Polygon Joins Forces with GSR to Launch Katana, Lido Launches Dual Governance, etc. (0629–0705)
Powered by ChatGPT1. The Ethereum Community Foundation is established to fund tokenless projects to enhance $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 infrastructure and enhance the value of $ETH by funding "immutable, tokenless" projects. Its funding priorities include on-chain applications for real-world assets such as stocks, bonds, and real estate, as well as basic public utility projects such as fixing "blob space pricing imbalances."
2. World Liberty Financial community proposal plans to open WLFI token for trading link
The World Liberty Financial community, a crypto project of the Trump family, has released a proposal to open the $WLFI token for trading. If the proposal is approved, tokens held by some early supporters will be unlocked for circulation, while the founding team and advisors will still be subject to a long-term lock-up period. In addition, the community will vote on the remaining token unlocking plan and ecological incentive distribution in the future, and voting is underway.
3. Polygon joins forces with GSR to launch Ethereum Layer 2 Katana, focusing on DeFi applications link
Polygon Labs and crypto market maker GSR jointly launched Katana, an Ethereum Layer 2 blockchain focused on DeFi, which aims to solve the problems of on-chain asset fragmentation and unsustainable yields driven by high inflation. Katana adopts a centralized screening mechanism and only supports a few financial applications. Through the VaultBridge protocol, it returns user assets to Ethereum's Morpho protocol for low-risk lending, and the proceeds are returned to Katana to improve the yield level of key applications.
4. Sonic launches SonicCS 2.0, doubling consensus efficiency and reducing memory usage by 68% link
Sonic Research released the SonicCS 2.0 consensus protocol, which adopts a DAG architecture and introduces an overlapping election mechanism to parallelize the transaction ordering of multiple blocks. The new protocol uses a 0–1 matrix to represent the voting structure and uses SIMD instruction sets (such as AVX2) to vectorize the election process, accelerating voting and aggregation calculations. Tests on the mainnet with 200 epochs show that this version has an average speed increase of 2x and a memory usage reduction of 68%. The official plan is to integrate the protocol into subsequent client versions and release a technical report detailing its implementation.
5. Hyperliquid's contract trading volume has exceeded $1.5 trillion in the past year, with cumulative revenue reaching $300 million link
Decentralized trading platform Hyperliquid recorded $1.571 trillion in perpetual futures trading volume in the past 12 months. Hyperliquid achieved $56.00 million in fees and revenue this month, with cumulative revenue reaching $310.00 million. Hyperliquid's perpetual contract trading volume in May was $248.00 billion, and the trading volume so far this month is $208.00 billion, while the total trading volume of other on-chain perpetual contract trading platforms is only $140.00 billion.
6. Ondo and Pantera Capital plan to invest $250.00 million to deploy RWA tokenization projects link
Ondo Finance and Pantera Capital told Axios that they will jointly establish a $250.00 million "Catalyst" investment plan to support real-world asset (RWA) tokenization projects, and the funds will be invested in project equity and tokens. Ondo's head of strategy, Ian De Bode, pointed out that Catalyst will prioritize supporting projects that can enhance the attractiveness of on-chain assets and promote the construction of infrastructure that supports on-chain 24-hour automatic rebalancing and other functions.
7. Jupiter Core Working Group (CWG) announces its official dissolution and will no longer receive the remaining JUP tokens link
The Jupiter Core Working Group (CWG) announced its official dissolution against the backdrop of the DAO voting suspension and reorganization, stating that its originally set scope of work has been basically completed and no longer matches the current stage of DAO development. The CWG stated that it will no longer receive the remaining JUP tokens and will return all 4.500 million vested $JUP originally obtained to the DAO wallet for other community priorities. Some members, such as Morten, will join the Jupiter team, while other members will continue to participate in DAO 2.0-related affairs in the community as individuals.
8. PancakeSwap v3 liquidity pool officially launched on Solana link
PancakeSwap announced that its v3 version of the liquidity pool has now been deployed to the Solana mainnet. Liquidity providers can inject liquidity into Solana projects such as BONK, PYUSD, and EURC, and can receive up to 84% of the transaction fee sharing. Traders' transaction fees are as low as 0.01%.
PancakeSwap announced the latest data: In June 2025, the platform's trading volume reached $325.00 billion, a record high. The total trading volume in the second quarter of 2025 reached $529.00 billion, a record high for the quarter. The platform's cumulative trading volume has exceeded $1.8 trillion. This quarter's growth is related to a number of product upgrades, including the launch of PancakeSwap Infinity, the launch of cross-chain trading functions, and the continued increase in trading volume in the Ethereum ecosystem.
9. Lido DAO dual governance proposal approved link
Lido Finance announced that its $LDO holders have approved the dual governance proposal. Dual governance adds a stage to allow stETH holders to object to $LDO's decisions. The specific mechanism includes: when 1% TVL is locked, an additional time lock of 5 to 45 days is added; when 10% TVL is locked, a "rage quit" is triggered, preventing the execution of all proposals until the relevant assets are withdrawn from the protocol. This mechanism will be officially launched on July 4. Previously, Vitalik Buterin expressed his affirmation of this proposal, saying that although it is not perfect, it can solve key problems.
10. Sky's new execution vote has 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 issued after the execution is completed. It 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.