Demex Daily #44: Lens Protocol to Upgrade to V2 Mainnet on October 30

What’s Interesting Today:

The team behind Aave is preparing to upgrade their decentralized social media platform, Lens Protocol, to its V2 mainnet starting October 30. The new version aims to be quicker, more scalable, and easier for developers to work with. Users will be transitioned to the new version automatically and don't have to do anything. Despite an initial spike in user activity, engagement on Lens has noticeably decreased. The existing V1 API will shift to a read-only mode but will stay operational until January 30, 2024. Approximately 20 million transactions are expected to be part of the migration, with a focus on active users. Some functionalities will be temporarily disabled to ensure a safe transition.

Ethereum developers have decided to delay the Dencun upgrade, citing unresolved consensus issues and additional work needed on the codebase. The upgrade was initially planned for next month but faced setbacks, including a testnet launch error. While execution layer clients are ready for the fork, consensus layer teams, especially those working with the Prysm client, are hesitant to proceed. The Dencun upgrade aims to introduce a feature that would enhance Layer 2 network throughput. No new date for the upgrade has been agreed upon.