Demex Daily #99: Ethereum's Dencun Upgrade Marks Scalability Milestone

What’s Interesting Today:

The Ethereum Foundation announced the Dencun upgrade's successful activation on testnets, with a mainnet launch scheduled for March 13, marking a significant step in Ethereum's development. This upgrade, highlighted by EIP-4844 or "protodanksharding," aims to reduce Layer-2 transaction fees. Grayscale Investments views this as Ethereum's "coming-of-age" moment, enhancing its scalability and competitive edge. The upgrade is expected to address Ethereum's issues with transaction speed, throughput, and high fees, potentially tripling the operating margins of Layer-2 solutions like Optimism and Arbitrum. It could also fortify Ethereum's role in the crypto ecosystem by supporting new protocols such as EigenLayer, which offers "security as a service." Amidst this backdrop, Ethereum's price has surged over 42% in the past month, partially due to optimism for a possible spot Ethereum ETF and anticipation of the Dencun upgrade's impact.


Lens Protocol, a decentralized social media platform affiliated with Aave, has transitioned out of beta to become permissionless, as announced by its team on February 27. Previously, user access was invite-based with a waitlist for minting profiles, and builders had to contact Lens or participate in hackathons to develop on the platform. Now, anyone can mint a profile directly on, and builders can start projects by consulting the Lens documentation for guidance. This move to permissionless access follows enhancements like Momoka, Open Actions, and an improved social graph API to support the platform's expansion.