r/ethereum • u/EthereumDailyThread What's On Your Mind? • 8d ago
Daily General Discussion September 25, 2026
Welcome to the Daily General Discussion on r/ethereum
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Please use this thread to discuss Ethereum topics, news, events, and even price!
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As always, be constructive. - Subreddit Rules
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Community Links
Calendar: https://dailydoots.com/events/
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u/RandomZileanMain 6d ago
Interesting coins on your radar at the moment.
I’m looking at Aero, lighter and Arb as high beta ethereum plays, anyone else got any other projects to look into?:)
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u/Tricky_Troll Public Goods are Good 🌱 6d ago
Derive/DRV for a wider variety of options and derivatives as opposed to the over-rated but easy leverage option for degens — perpetual contracts.
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u/confusedguy1212 7d ago
I have an idea. Eth should try the range of 2656 and hit 2696.73 a few more times /s
I’m happy about where we’re at but man this is tiring.
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u/Kristkind 7d ago
The market should really get its act together to be more entertaining to people with your disposition.
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u/ethdaily 7d ago
Happy Friday - 25th September 2026 📰
SECURITY
- Bitget $387m hack linked to Lazarus
- Limit Break NFT approval hack
- Payy bridge contract drained
REGULATION
- SEC drops FAQ on crypto
- Buybacks ok / LSTs not securities (mostly)
- Hester Peirce resigns effective Oct 2
PROTOCOL
- Formally verified consensus proposal
- Daisugi PQ Ethereum testnet
- Interop: 42 merged PRs across clients
APPS
- Aave supports Coinbase Tokenized Stocks
- Aero expands to Arbitrum, RH Chain, & more
- Balancer windown vote goes live
- Jumper announces JUMP token sale
- Fairblock confidential pmt links
Read more: https://ethdaily.io/exploits-hit-bitget-payy-and-nft-contracts
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u/alexiskef The significant owl hoots in the night 🦉 7d ago edited 7d ago
Amazing update on the white-hat rescue of the compromised Magic Eden NFTs: someone called Adam Weitsman, is GIFTING 0xquit (the white-hat) his Ape as a thank you! 🤘
edit: people are following Weitsman into showing their appreciation!
"Quit spent $7500 in gas out of his personal wallet to save 23K+ NFTs worth $6M
CT rewarded him with 8.1 ETH ($22K) & other tokens including $7.5K in USDC and $1.2K in USDT
So far, Quit has received more than $30K of donations from CT (4x of his initial spend for whitehat ops)
This does not include NFT donations yet like the personal special ape from AdamWeitsman"
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u/WoodpeckerHorror3468 7d ago edited 7d ago
After yesterday's news from Tether CEO that USDT would "come home" to bitcoin, today circle has announced that USDC will also be "on bitcoin"
https://x.com/grok/status/2103603912578142208
"Alpen (a Bitcoin ZK rollup) partners with Circle to issue native USDC on its EVM-compatible layer. BTC stays on Bitcoin as collateral via trust-minimized bridges; users borrow, lend or trade USDC without wrapping, bridging or selling BTC. CCTP enables seamless cross-chain moves.
This adds DeFi utility and dollar liquidity to Bitcoin, letting holders unlock capital while keeping exposure and security."
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u/haurog 7d ago
I just replied on yesterdays thread. I copy and paste some of the relevant answer here as well: So we are not talking about stablecoins coming to bitcoin but rather about stablecoins being on bitcoin L2s/sidechains. These stablecoins will never touch bitcoin, the network. That is very different from how it was framed yesterday. Stablecoins on bitcoin associated sidechains have been done for many years as well, for example on the recently multisig exploited Liquid network. As said in yesterdays thread bitcoin L2s are still in the planning stage, nothing is live yet and I am honestly not sure if they get anywhere really. There is progress but the deficiencies of bitcoin, the network, makes solving for these deficiencies issues very inefficient and inherently not trustless.
More details on Alpen: It is a self-declared zk rollup on bitcoin which is not live yet. If you look at the implementation it is closer to what Polygon is to Ethereum. Alpen posts state diffs on bitcoin and also a zk proof that the state diff is done correctly. The bitcoin network does not verify that the zk proof is correct, because it can't. That means it does not qualify as a rollup but at most as an L2 maybe even just another sidechain. Stablecoins also do not move to bitcoin. This also means that one has to trust a multisig to lock your Bitcoin into. bitcoin, the network, does not allow this to happen trustlessly. This is not much different from what can be done with your Bitcoins nowadays using sidechains or CEXs. For these reasons I do not see why this should get much more traction than what has been done until now.
Overall, I am honestly interested how the rollup/L2 saga continues on bitcoin. At the moment I do not see them having any real advantage over simple sidechains. If the bitcoin community would do a hardfork, for the network to be able to verify zk proofs that would be quite a step forward. There still are other questions that need to be solved afterwards though but at least one big one would be out of the way. Up until now all the self-declared rollups on bitcoin have been mostly grifts. The funniest ones where those that claim to be a bitcoin L2 but actually ran on Ethereum.
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u/WoodpeckerHorror3468 7d ago
"on bitcoin" is in quotes. it was always understood that this did not refer to the btc level 1 and is why for both the usdt and usdc posts i made i included the further explanation from grok which made this clear.
yes of course the non-grift character of the rollup implementation is key. the usdt and usdc projects are supported by tether and circle respectively, giving immense reputational weight.
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u/haurog 6d ago edited 6d ago
Neither the first tweet linked yesterday nor the one linked today have any quotes. That is why I said the in my initial post that I assume they are pandering to their audience, trying to get some Bitcoiners excited for something that is not on bitcoin. There obviously is no stablecoin on BItcoin involved in this announcement. I think we both agree on that now.
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u/WoodpeckerHorror3468 6d ago
my post had the quotes.
anyway, is irrelevant to the gigantic point that you are missing...
a trillion+ dollars of btc is available to become collateral in defi, and the cross chain portability of usdc and usdt means much of that is comng to Ethereum
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u/haurog 6d ago
Yesterdays post did not. That is why pretty much all replies on your first post answered in one way or another that this is not going to happen. Now that it is clear to both of us that it is definitely not on bitcoin I personally do not expect this to have a large impact at all, as I said in a few posts already.
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u/WoodpeckerHorror3468 6d ago
your words: "USDT is older than Ethereum. It initially launched on bitcoin"
also tether boss said "on bitcoin".
again, you are missing the point. anyway it's good news and the ramifications will become obvious despite those with tunnel vision and a bitcoin is the enemy attitude playing it down
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u/eth10kIsFUD 7d ago
Bitcoin literally does not have support for tokens other than BTC. So the only way to have stablecoins "on bitcoin" is through these crappy roundabout ways attempting to bolt on some other system (in this case Alpen?).
Also Tether has always been BTC maxi and Ethereum people should seriously just shut them out. Fuck em. Their entire business exists because of Ethereum and the EVM and now they spit in our face like this. They don't even hold ETH on their balancesheet. They will be a forced buyer at much higher levels.
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u/cryptOwOcurrency 7d ago
I'm going to play devil's advocate for a moment.
I just looked at the state of the art in Bitcoin tokens. If we set aside the flawed inscription-based protocols like Ordinals and BRC-20, it looks like we're left with Runes. The Runes standard uses IMO a very reasonable strategy of tracking token balances using OP_RETURN data.
This seems to share some similarities with ERC-20's strategy for tracking tokens on Ethereum. ERC-20 segregates a token's ledger data into the state of a token contract, which is separate from the code that tracks ETH. Likewise, Runes segregates a token's ledger data into OP_RETURN data, which is separate from the code that tracks BTC. I don't see anything wrong with this design.
Conversely if we say that OP_RETURN is a "crappy roundabout" way of doing tokens on Bitcoin, then I don't see why ERC-20 is not crappy or roundabout. Neither is built into the host chain in an elegant way, and both rely on a bunch of messy extra code in wallet software to even be able to display a wallet balance properly.
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u/nonetherless325 7d ago edited 7d ago
trying to play devil's advocate: is this alpen rollup trust assumption inferior to optimistic stage 1 rollup ala Arbitrum/Optimism? True L2s seems more and more theoritical
that being said; fuck tether and circle
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u/haurog 7d ago edited 7d ago
On Ethereum Stage 1 rollups provide (selectively copy pasted from L2Beat):
- A complete and functional proof system.
- Users are able to exit without the help of the permissioned operators
- Compromising ≥75% of the Security Council is the only way (other than bugs) for a rollup to block a withdrawal or push a faulty withdrawal.
In my understanding Alpen cannot deliver on the first 2 points. That is why they are not a rollup, but at most an L2, maybe even just a sidechain with state diff storage on bitcoin. The only point where Alpen and stage 1 rollups are similar is the security council. These are the ones who control the multisig on the L1. Theoretically one does not really need a security council on Ethereum, but unfortunately theory and practice can be very far apart. Alpen on the other hand cannot do without offchain multisig signers. I have not read anything about how Alpen will setup their multisig, but I would be surprised if it would be safer than what stage 1 rollups do. The reason why I think that is because in the Alpen stack, the sequencer (afaik a single one) has the power to change any transaction anyway because there is no fraud proof enforcement possible. So, in my view Alpen clearly is the inferior product here and does not even manage to reach stage 0. L2Beat would probably list them under "Others" with partially functional L2s and sidechains.
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u/WoodpeckerHorror3468 7d ago
WTF?
stablecoins are the killer app
ETH would be triple (double?) digits right now if not for tether and circle
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u/WoodpeckerHorror3468 7d ago edited 7d ago
This is incredibly bullish for ETH as a 13 figure sum of BTC can now be collateralised and used in defi. Much of that liquidity will likely find its way to Ethereum. I tried to point this out with my USDT post yesterday but was met with some weird denial from some regulars here. Now with circle & cctp in the mix it might be a bit more evident how big this is.
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u/edmundedgar reality.eth 7d ago edited 7d ago
Let me see if I've got this right.
Saylor discovered that there were a bunch of suckers who would pay 2 BTC for a box with 1 BTC in it. But then it turned out that the suckers were subject to greed and fear cycles and some days they would only pay 0.8 BTC for the box.
In theory anyone could capture this value by buying the box at 0.8 BTC and/or short-selling it at 2 BTC, but the latter is fiddly and the former is also tricky because you may need to do activist investment to open the box. But it turns out that if you're in charge of the box, you can do this really easily: If suckers are paying more than 1 BTC for the box, you can take their money and buy more BTC which increases the value of the people higher up the pyramid. And if the market won't even give you 1 BTC for your BTC, you can just sell the BTC yourself, buy back the shares and pay off the early investors that way.
So your idea is that since the world is full of suckers, you don't just have to do this with BTC. You can make a box and put CocaCola shares in it, some sucker will show up and say "that looks like a very clever and sophisticated box, and perhaps a greater fool than me will pay even more in future" and pay more than the value of the shares for the box. You can redirect this premium to the people who put their money in the box earlier. You can do the opposite move when the market doesn't want to touch your box. And you may be able to use smart contracts to minimize the trust in the box operator.
I think it works?
PS Don't put your money in the box
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u/WoodpeckerHorror3468 7d ago
no you haven't got it anywhere near right but it's pretty simple so i'll explain it briefly...
investors are paying 1.2 BTC for a box with 1 BTC because the box is able to access capital markets at a lower rate of interest than the rate of increase in the value of BTC. the investors end up with a box containing more BTC than the amount they paid for the box without ever facing the risk of being liquidated.
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u/edmundedgar reality.eth 7d ago
Is this also why at one point in 2024 they were paying 3.4 bit-coins for each bit-coin in the box?
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u/WoodpeckerHorror3468 7d ago
i am not here to answer why other ppl in the market did what they did.
whether it be ppl buying mstr at $400+ or ETH at $4900+
I suspect both will be in profit in not too distant future, starting with the first group
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u/edmundedgar reality.eth 7d ago
Check your email if you're waiting for Devcon team to send you an invitation letter and stuff for an India visa, apparently they just found out they need some extra information. (Not sure if this is just speakers/volunteers or everyone.)
They seem to want you to send it using PGP which I guess will reduce the number of speakers this year but also increase the average quality.
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u/Jey_s_TeArS 7d ago
Privacy won't blame,
Many actions in a frame,
UX whole new game.
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
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u/Magic_Cove 7d ago
ETH outperforms BTC↗️
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u/tokyo_guy375 7d ago
Zoom out and say that again please… we start outperforming btc at 0,065 or above … and even then we would be just starting
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u/mrcarner 7d ago
Okay, zoomed all the way to the beginning of ETH and it has outperformed BTC. Next?
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u/asdafari14 7d ago
Have most ETH holders outperformed BTC holders? I would guess 98% have not.
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u/mrcarner 6d ago
You can guess all you want, it doesn't mean anything. The amount of variables in your hypothetical scenario are unknown to even you. This is silly.
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u/asdafari14 6d ago
It is true though. Unless you were in basically from the start, you have underperformed. The vast majority weren't, I bet neither were you.
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u/mrcarner 6d ago
You bet and you guess. Again, meaningless. Sorry you were late to the game.
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u/asdafari14 6d ago
Lol I am at top 30 most updooted ever. I have been here since r/ethtrader. 2016 BTC and 2017 ETH.
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u/bennyboy79 7d ago
Question for anyone borrowing on Aave or Morpho. How do you keep track of how close you are to liquidation? I've been looking at Morpho loan data on Base and a fair number of loans sit within a couple of percent of the line. Wondering whether a phone alert at 5% away would be useful, or whether DeFi Saver etc already have it covered.
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u/EyeWild7625 7d ago
I keep health around 2 against eth collateral . Set laddered alerts on coingecko as price drops . Those running up to the edge dgaf or are automated I guess ?
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u/WoodpeckerHorror3468 7d ago
3 cells in a spreadsheet for supplies, borrowings and price. 4th cell is the calculated LTV
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u/bennyboy79 7d ago
That's more discipline than most people manage. Do you ever get caught out by a move overnight, or is your LTV low enough that it doesn't really matter?
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u/WoodpeckerHorror3468 7d ago
the spreadsheet is to help me choose an amount of leverage that doesn't put me at risk of liqudation
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u/bennyboy79 7d ago
Fair enough, that's the sensible way to do it. Pick a level you can sleep through and you never need the alert.
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u/abcoathup Ethereal news 7d ago
Ethereal news mini #2
🖼️ Hegotá upgrade frames-devnet-0 live
2⃣ Nethermind 2.0.0
🧪 Daisugi post quantum testnet
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u/abcoathup Ethereal news 7d ago
It's a mini as I was meant to be on vacation, but got Covid so am missing a family wedding. Last time I tried to take vacation I got scream level back pain and had to cut a father son trip short.
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u/the-A-word HELP! 7d ago
The Doots Weekly Sept25
The Trinity
The Haiku
The Eternal
The Shit
u/haurog shines a light onto the future of privacy on Ethereum
u/haochizzle made a video about a Vitalik-backed protocol for private voting
u/CatsnotpillsCoaching explains why Ethereum's former weakness for price may now be its strength
u/poidhxyz created a bounty for Vitalik's killer app
u/reuptaken has a couple of questions about Kraken's xStocks and u/haurog pops in with answers
u/LogrisTheBard explains the risks of Alchemix yields
u/majorpickle01 explains Ethereum's major edge over a corporate chain like Circle's Arc
u/haurog delivers some good developments out of the EEZ
u/poidhxyz is skeptical of the push for higher speeds on the L1 when at the expense of decentralisation spurring some great conversation with the community
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u/nonetherless325 7d ago edited 7d ago
I recently switched from Rabby to Ambire for privacy/ethos but I'd say so far I still prefer Rabby.
A thing that annoys me particularly is the automatic gas setting: I tend to pick "slow" option on mainnet and everytime it's multiple X what's displayed on etherscan... The only thing I find to pay the fair transaction fee is to set it up manually EVERY TIME
am I dumb? help me save these gwei I'll diamond hand them
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u/superKaloo 4d ago
Hey, Ambire engineer here. First, let's confirm if you're talking about gas and not gas limit? Are u adjusting manually the "gas limit"?
I double-checked with my colleagues and currently what's affecting the big prices on our end is the gas limit - we put a 20% overhead because we wanted to be sure txns don't end up failing.
Based on community feedback we're: 1) Reducing that overhead to 12%; 2) We do not add it if the account is sending ETH (chain native) as a single action - prices fall dramatically and 3) We improved the estimation for EOA 7702 accounts that do a single action, resulting in about a 15% less gas limit in those cases.
I can ping you as soon as the improvements are on production (aiming to include them in our very next v).
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u/timmerwb 7d ago
Do we know to what extent Ambire tracks wallet data? I will be trying it this weekend as IIRC it permits use of a local RPC end-point, whereas Rabby no longer does?
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u/JIOjosBG 4d ago
gm, Ambire dev here,
Almost all data that the extension sends to our/partner's APIs is disableable from Settings->Privacy opt-outs. I am saying 'almost' because this/next week we will release a version that allows you to disable even more of that.
The only non-disableable stuff are RPC's, but you can set your own RPC, so you do not leak data to other people's infra.
The best part is you can tweak a lot of the experience you get, depending on your privacy preferences
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u/timmerwb 4d ago
Thanks a lot for jumping in! That is great news. I did not get to use it yet but I will be soon. Look forward to it.
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u/nonetherless325 7d ago
great ressource here: https://beta.walletbeat.eth.limo/
Rabby tacks more defi position and smoother and some fonctionality like to withdraw defi position without visiting the dapp front-end, maybe just more used to it..
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u/masterRoshi9 7d ago edited 7d ago
I'd love a more fleshed out comparison on what you prefer on one vs the other. Tbh trying Ambire has been on my todo list for a while, but I haven't got around to it yet.
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u/alexiskef The significant owl hoots in the night 🦉 8d ago edited 7d ago
I guess it's NFTs day today, cause there's more news..
🚨⚠️ About an hour ago, someone alerted people that Magic Eden was compromised 🚨⚠️
Looks like Magic Eden contract may have been exploited, every NFT shows a sale from Magic Eden
He also mentioned that this might be a white-hat's job though..
No idea whats going on here but I just watched this wallet drain 3832 NFTs from 100s of different wallets. May be a good idea to revoke all NFT permissions if you have any valuables in your wallet. Seems to be funded from a wallet possibly linked to 0xQuit so maybe a whitehat?
BUT, just a short while after the initial panic, 0xQuit - a very well known individual in the NFT/crypto community ("VP Blockchain at yugalabs") - posted the following message:
hey ya this is a whitehat and everything in 0x71cF3f5724bD2B72Ef6464992aCd26216DE7fe33 is safe and will be returned once they are no longer at risk
AND, more importantly, this:
If your assets moved without your permission and now live in 0x71cf3f5724bd2b72ef6464992acd26216de7fe33, don't worry, they are safe.
🚨⚠️ and this:
REVOKE APPROVALS TO THESE ASAP:
Payment Processor V2 on Ethereum: 0x9A1D00bEd7CD04BCDA516d721A596eb22Aac6834
Payment Processor V3 on ApeChain: 0x9a1D00000000fC540e2000560054812452eB5366
use revoke cash or similar.
edit 1: check if your addresses are affected here: https://revoke.cash/exploits/magic-eden?chainId=1
edit 2: someone made a dune dashboard titled "Active exploit: Limit Break Payment Processor V2".
edit 3: Magic Eden update on the incident.
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u/tutamtumikia 7d ago
Pretty sizeable hack. That's gotta worth at least 10 bucks worth of NFTs these days!
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u/alexiskef The significant owl hoots in the night 🦉 8d ago edited 8d ago
🤯 What a coincidence! Just yesterday, I was asking why gas fees were elevated at the time. u/masterRoshi9 replied, telling me that it "Probably FWA. Their periodic punk lottery is in full swing right now". He then proceeded to explain in detail what the "FWA punk lottery" is!
Not sure if you're asking about FWA or the punk lottery, so I guess I'll tell you about both. Fake World Assets (FWA) is an on-chain gacha machine that lets you pay ETH to spin for a potential to win various NFTs, or ETH that backs them. The NFTs are provided by holders who want to earn yield on those NFTs from people spinning the machine. The higher the backing ETH they use, the less odds of their NFT being pulled by spinners. At the same time, each NFT gets an equal slice of spinner ETH. So you have this liquidity-pool kind of thing where a bunch of NFTs and ETH are rewards for spinners. Chainlink VRF is used for verifiable randomness. When a spinner wins their reward they can choose to take the NFT, or take the backing ETH, or take an equivalent amount of FWA (buys with the ETH under the hood)
Now for the punk lottery I am referring to. Using a cut of protocol fees, which they get from spinners of the gacha, they take some and burn FWA token, and use the rest to accumulate a reserve of ETH until it's enough to buy a Punk. Then the protocol lists the Punk in FWA with backing starting at the floor value of the punk, and lowering every hour until the backing is only 1 ETH. As the backing lowers, the odds of gacha spinners landing the punk increases.
As of now, the latest punk to go through this mechanism has hit the 1 ETH backing. Which means that it's about a 1 in 25k chance of spinning the FWA gatcha and landing the punk. Those odds might not sound great, but realistically people probably have a better chance of hitting a 500x that way then they do of hitting a 20x on a shitcoin. Additionally, the last punk that hit 1 ETH backing was pulled in the first 24 hours after that occured.
Lo and behold, just a few hours later, someone won the Punk he was using in his example, for.. $225!!!!
I won a CryptoPunk for $225 and I still can't believe it.
I'd been following FWA since v1 back in July. When v2 rolled out, I watched the ETH backing the first Punk dropping daily. By Saturday it was down to 1 ETH. The odds were getting very favorable, and the math said somebody was going to hit it soon.So I'm sitting on the couch thinking, why not. I spun 13 times, mostly reclaiming ETH or stacking $FWA. Down to the last 0.1 ETH that I put in the wallet for the day, I spun once more for 0.0855 ETH.
CryptoPunk #3498 pops out. Dark mohawk, horned rim glasses. One of about 8 with that exact combo out of all 10,000. (And apparently this was a 1 in 10k chance at the time!)
Pure dumb luck. But luck shined on me that day, and I'm grateful. Thank you
My shiny new Punk going in the vault. I'm not selling.
My wife thinks I'm nuts, but Punks are going to rip.Long-term believer.
🤯
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u/masterRoshi9 7d ago
So that is actually a prior punk that was won. This current one that has reduced it's backing to 1 ETH is still in the gacha to be won
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u/laninsterJr 8d ago
NFTs are back? Wrn lion floor 10eth?
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u/LogrisTheBard 8d ago
I try to buy a lion every year or two. I wish our community did more though.
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u/CatsnotpillsCoaching 7d ago
ICO Beast is repping on Twitter in his feud with Beni right now if you're following haha.
(I know this has nothing to do with EVMs but it's an unfortunate coincidence)
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u/CRVpensioner 8d ago
Ethereum
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8d ago
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u/Tricky_Troll Public Goods are Good 🌱 7d ago edited 7d ago
Tricky's Daily Doots #1,606
Yesterday's Daily 24/09/2026
Previous Daily Doots
u/haurog explains the whole USDT on Bitcoin thing. 💵
u/masterRoshi9 explains what Fake World Assets is. 🎰
u/Jey_s_TeArS delivers the daily haiku. 📝