#optimism
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OP Labs, backing the Optimism network, launched a testnet version of its novel fault-proof system aimed at bolstering both efficiency and decentralization. At present, OP Stack employs centralized sequencers to bundle and send transactions to Ethereum. However, this method prohibits users from challenging the process in case of fraudulent transactions. 
However, it's not tied to quests... Layer 2 blockchain Optimism initiated its third wave of token distribution exclusively for OP delegators. To qualify for the rewards, participants needed to accumulate 18,000 points. The points were calculated by multiplying the number of delegated OP by the delegation days, which must exceed 7 days. If the delegate actively engaged in voting, a minimum of 9,000 points was required. There's no claiming process or forms to fill out! Tokens have been automatically sent straight to users' wallets. In total, over 19 million OP tokens have been distributed to 31,870 unique addresses. 
The Optimism Governance has announced a direct distribution of unclaimed tokens from the inaugural airdrop. They aim to distribute (if not already done) 48 million OP across over 88,000 distinct addresses. This accounts for about 25% of all the addresses originally qualified to receive tokens. This decision was made to allow the team to shift their focus to other endeavors related to smart contracts and upcoming airdrops. 
Base, engineered on OP Stack as a second layer network, has managed to surpass Arbitrum and Optimism in the number of daily transactions this week. Data from The Block highlighted that on August 15, Base's moving average reached 610,000 transactions, while the counts for Arbitrum and Optimism stood at 576,000 and 597,000, respectively. Although Optimism currently holds a slight lead, overall, the networks are closely competing. 
The SEI token, having just been released, now finds itself in the 85th spot in terms of market capitalization, as reported by Coinmarketcap. It's also making its presence felt in daily trading, occupying the seventh position with a volume of $1,6 billion.
While current metrics paint a promising picture for the project, it's worth noting that the cryptocurrency arena frequently sees such developments. Therefore, it's wise to approach this news with measured optimism. 
The TVL of Coinbase's blockchain has surged to $146 million following its mainnet launch, surpassing StarkNet's TVL of $112 million.
What's particularly striking is that roughly 87% of Base's TVL is held in ETH.
However, the network's throughput still has room for improvement, with its TPS standing at roughly 5.81.
For comparison, here are the TPS figures of other L2 solutions:
Optimism — 6.88
Arbitrum One — 7.26
zkSync Er — 10.72 
Layer 2 network Optimism has surpassed Arbitrum, recording 944,000 daily transactions, which is nearly 50% more than its former frontrunner with 660,000 daily transactions.
The surge in activity on Optimism can be attributed to the recent Bedrock update and the excitement surrounding the Worldcoin project, which enables user accounts within this network.
However, when it comes to Total Value Locked (TVL), Arbitrum remains in the lead, boasting over $2 billion — twice as much as its competitor. 
Bobby Dresser, the CEO of Optimism Foundation, announced on GitHub that they have approved proposals from O(1) Labs and RISC Zero for the integration of zero-knowledge proofs.
O(1) Labs suggests creating a new solution based on the Kimchi system, currently used in the Mina Protocol project. This move is expected to enhance both the performance and security of cross-chain communication. 
Coinbase's blockchain, Base, has set a new daily transaction record, reaching 1.88 million transactions. This achievement surpasses its previous high of 1.41 million transactions, established shortly after its launch in August. Notably, this number surpasses the combined daily transactions of both Optimism and Arbitrum, which totaled 878,000 transactions. 
The Exactly Protocol has suffered a hacking attack. Running on the Optimism blockchain, this lending DeFi platform was targeted by malefactors who stole over 4300 ETH, totaling approximately $7.3 million.
Both BlockSec and Beosin security agencies have corroborated the theft. The hackers reportedly found and exploited a weak point in the platform's smart contracts, although the finer details are still under wraps.
UPD: The team at Exactly Protocol would declare a $700,000 reward for any leads on the hacker, should they not receive a response from the malefactor by the end of August 22nd.
"You can return the funds, minus a 10% fee to you, without worries about us coming after you," the Exactly team conveyed in their message. 
Dubai is launching an aggressive campaign to attract tech giants in artificial intelligence and Web3, offering hefty subsidies that could cover as much as 90% of commercial licensing fees.
The Dubai International Financial Centre (DIFC) has been assigned the duty of issuing these licenses, and its executives look forward to engaging foreign businesses and investors with optimism. 
LunarCrush, the data analytics company, has reported that the most frequent search on their platform is now the SHIB token, overtaking Optimism (OP) and Worldcoin (WLD) which landed in the second and third spots respectively.
Notably, this "meme token" has shown a surge in its overall social engagement by 20% and has held a strong social dominance of 4.8% in the past 24 hours. 
Optimism announced Law of Chains v0: a foundation for the future of Superchain.
Law of Chains v0 will change Optimism Governance to govern standards for multiple chains, defining the necessary conditions for integration into Superchain and prioritizing user security. According to the developers, this will:
1. Preserve a unified, neutral, and open blockchain space.
2. Conduct blockchain modernization.
3. Ensure infrastructure availability.
Optimism aims to officially unveil this project and the first version of the new chain governance process after discussions with the community in the next governance season. 
This decentralized protocol has suffered a loss of nearly $455,000 owing to a flaw in its code. All activities relating to contracts have been put on hold for now.
A blockchain analyst from PeckShield explains this predicament as a result of inadequate input verification within Arcadia's code, a loophole the hacker exploited to drain crypto assets (darcWETH and darcUSDC) in both the Ethereum and Optimism networks.