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Gate Research Institute: Web3 Events and Encryption Technology Development Follow-up (2025.4.18-2025.4.24)
Introduction
This week, the price of Bitcoin broke through $94,000, reaching a new high since March of this year, and the total market value of cryptocurrencies has returned to $3 trillion. This increase is due to positive developments in China-U.S. trade relations: U.S. President Trump stated that he would "significantly reduce" high tariffs on China, and Treasury Secretary Mnuchin also emphasized that the trade deadlock is "unsustainable," significantly boosting market confidence in the global economic outlook, which has driven a comprehensive rebound in U.S. stocks and the crypto market.
At the same time, the on-chain ecosystem continues to evolve, and various infrastructure and applications are constantly iteratively upgraded. Eliza Labs Launches AI Agency Platform Auto-Fun to Accelerate the Convergence of AI and Blockchain. Circle launched the Refund Protocol and stablecoin payment network to bring greater flexibility and user experience to on-chain payments, and promote the integration of real-world assets and the crypto world. The Ethereum Foundation is strategically adjusting around the upcoming Pectra upgrade, and is committed to solving Layer-1 throughput bottlenecks and cross-chain interoperability problems, and building a long-term technical moat. Hyperliquid has introduced 21 non-authoritative nodes to participate in mainnet verification and plans to launch a delegation mechanism to provide a more solid foundation for its decentralized governance and network security. The Solana Foundation has launched a new delegation policy to eliminate low-activity validators and strengthen the decentralization of the network.
Summary
Key Events of Focus
Eliza Labs launches AI agent Launchpad platform Auto-Fun
Eliza Labs has launched a no-code AI agent Launchpad platform "Auto-Fun," which addresses incentive imbalance and value capture issues through an innovative token economic model. Developers are required to pay a launch fee, and the funds will go into the DAO treasury to ensure the sustainable development of the ecosystem. The platform also introduces a staking mechanism, a reputation system, and a community review process to incentivize long-term participation and ensure project quality.
This initiative was proposed as a remedy after the early token model of Eliza Labs faced challenges. Previously, the AI16Z token launched by Eliza Labs adopted a "fair minting" model, with the founding team receiving no initial allocation, resulting in a lack of sustainable funding for the project. Although the token's market value once reached $2 billion, its market value has fallen to $300 million this year due to the lack of a substantial value capture mechanism, forcing the team to reevaluate its token economic model.
The traditional "fair launch" model, while able to attract community attention in the early stages, lacks incentives for developers and long-term holders, making it difficult to support the sustainable development of the project. By introducing launch fees, staking mechanisms, and reputation systems, the successful launch of the Auto-Fun platform is expected to rebuild market confidence, attract new users to participate, and form a more solid consensus within the community. [1]
Circle Launches Refund Protocol and Stablecoin Payment Network to Promote On-Chain Payment Infrastructure Upgrade
Circle has continuously launched two major innovations in the stablecoin payment field: Refund Protocol and Circle Payments Network, aimed at addressing issues such as the lack of refund mechanisms, dispute resolution methods, and low efficiency in cross-border settlement for stablecoins. The former introduces a non-custodial on-chain refund and arbitration system to enhance transaction trust; the latter establishes a global cross-chain clearing network to reshape cross-border payment efficiency. Both address the challenges of "trust" and "efficiency" respectively, promoting stablecoins from crypto assets to the underlying payment layer.
The Refund Protocol includes four major processes: payment, refund, withdrawal, and early withdrawal. When customers make a payment, the funds enter a smart contract. In case of a dispute, a refund or arbitration can be requested; after the lock-in period ends, the payee can withdraw the remaining funds; an early withdrawal can also be made by paying a fee. The arbitrator's authority is limited and cannot alter the flow of funds, ensuring the safety of the funds.
Circle Payments Network is centered around USDC and EURC as core assets, based on its self-developed CCTP protocol, supporting 19 chains including Solana, Base, and Avalanche, enabling automatic conversion and settlement between local currencies and stablecoins, connecting global banks, payment platforms, and wallet services. This network is expected to reduce cross-border costs, improve clearing efficiency, and help Circle promote stablecoins as a mainstream global payment infrastructure.
Ethereum Foundation Strategic Adjustments and Technical Proposals
After the restructuring of the leadership, the Ethereum Foundation has clearly shifted its focus towards improving user experience and Layer-1 scalability. This strategic change responds to market criticisms of Ethereum, particularly regarding high Gas fees, performance bottlenecks in Layer-1, and the lack of privacy features.
At the same time, Vitalik Buterin proposed a technical proposal to convert the underlying execution architecture of the Ethereum Virtual Machine (EVM) from bytecode to the open-source instruction set RISC-V. This transformation aims to significantly enhance execution efficiency and network scalability, with an expected reduction in on-chain execution costs by up to 100 times. The introduction of RISC-V not only simplifies the architecture and improves security but also enhances the system's scalability and reduces development and maintenance costs.【5】
This adjustment, along with the proposal, promotes Ethereum's "dual-track parallel" development strategy. With the upcoming Pectra upgrade, it not only addresses the throughput and cross-chain interoperability issues of Layer-1 but also provides long-term performance breakthroughs for the execution layer. Through this layout, Ethereum can maintain its existing competitiveness while laying the groundwork for future technological innovations, ensuring that it always remains at the forefront of the blockchain field. Ethereum has chosen a balanced development path: maintaining competitiveness through real-time visible protocol upgrades while providing a solid guarantee for the accumulation of long-term value through innovations at the foundational layer, further building its moat in the industry.
Hyperliquid Updates Mainnet Validator Mechanism: 21 Permissionless Nodes Participating, Delegation Plan Coming Soon
Hyperliquid has launched a validator delegation program aimed at enhancing the security and decentralization of the network by delegating HYPE tokens to high-performance and trustworthy validators. The mainnet will dynamically select the top 21 nodes based on the amount staked to form an active validator set, thereby strengthening network security and decentralization.
Applicants must meet certain threshold conditions, including holding and locking at least 10,000 HYPE tokens for more than one year, operating at least two high uptime non-validator nodes, publicly disclosing node IPs, completing KYC/KYB verification, and not being from restricted areas.
By delegating tokens to trusted and high-performing validators, Hyperliquid will enhance the network's security, promote diversity within the validator community, thereby increasing the level of decentralization, and is expected to mitigate the impact of previous security and trust issues such as the Jelly token loss. This mechanism also incentivizes validators who are committed to long-term ecological development and network stability to participate, helping to build a more robust and sustainable financial infrastructure ecosystem.
Solana Foundation launches new delegation policy, dismissing low-active validators to strengthen network decentralization
The Solana Foundation announced the implementation of a new delegation program adjustment strategy, aimed at strengthening network decentralization and long-term healthy development. According to the official release, starting today, for every new validator who receives delegation from the Solana Foundation mainnet, three "long-term dependent validators on foundation delegation with lack of external staking support" will be removed from the program. The conditions for removal include: having obtained at least 18 months of delegation eligibility on the mainnet, and having less than 1,000 SOL staked from non-foundation channels. [7]
The core objective behind this policy is to reduce validators' dependence on the Solana Foundation's delegation, while incentivizing those validators who actively build their reputation within the community and attract external support. This not only frees up resources for new validators but also pressures existing nodes to enhance their self-staking capabilities and community engagement. The Foundation has made it clear that this move is not a crackdown, but rather a redistribution of ecological vitality, aimed at rewarding operators who continuously contribute to the ecosystem.
In addition, the officials emphasized that this mechanism will help improve network operating efficiency and prevent some "passive" nodes from occupying resources for long periods without driving ecological growth. By selectively removing resource occupiers and introducing fresh blood, Solana hopes to continue consolidating the sustainability and decentralization of its high-performance blockchain network. The new policy has taken effect immediately, and updates to the relevant validator list will continue to be publicly announced in the future.
Summary
In terms of public chains, Ethereum and mainstream networks like Solana continue to advance core protocol upgrades and optimize governance mechanisms. The Ethereum Foundation is strategically deploying around the upcoming Pectra upgrade, focusing on solving Layer-1 throughput bottlenecks and cross-chain interoperability issues to build a long-term technological moat. The Solana Foundation is enhancing its network's decentralization and resource efficiency by implementing new delegation policies and phasing out low-activity validators.
In terms of projects, AI integration and infrastructure innovation have become focal points. Eliza Labs launched the AI agent platform Auto-Fun, accelerating the integration of artificial intelligence and blockchain; Circle introduced the Refund Protocol and stablecoin payment network, enhancing the on-chain payment experience and promoting the integration of real assets into the crypto ecosystem.
In other aspects, Hyperliquid is strengthening its decentralized infrastructure by adding 21 permissionless nodes for validation and plans to launch a delegation mechanism to ensure the security and governance flexibility of its trading platform.
Reference material:
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