Welcome to The Protocol, CoinDesk’s weekly overview of significant developments in cryptocurrency technology.
In this edition:
- DAO governance tool merger
- Ethereum Foundation drama
- Stablecoin USDh comes to Bitcoin
- $25 million grant program for DePIN
Network News
DAO Governance Platform Acquires Rival: Agora, a blockchain governance startup, is acquiring its competitor Boardroom, aiming to enhance governance within the Ethereum ecosystem. Co-founder Yitong Zhang stated, “2025 is the year we make good governance the standard for all protocols in Ethereum.”
Ethereum Turmoil: Konstantin Lomashuk, of the Lido staking protocol, plans to form a “Second Foundation” to bolster Ethereum’s ecosystem, while discussions arise regarding a major restructuring of the Ethereum Foundation under Vitalik Buterin’s guidance.
Bitcoin Gets New Stablecoin: USDh, built on Bitcoin’s Stacks layer 2, has secured a liquidity deal to position itself as the leading stablecoin on Stacks.
DePIN Grant Program: World Mobile announces a $25 million grant program to support Decentralized Physical Infrastructure Network (DePIN) projects.
In Other News
- L2s Getting Faster: Layer 2 protocols are achieving record throughput, led by Base.
- Letters of Credit for DeFi: Anvil says its new smart contract project could reshape money.
- Regulatory and Policy Updates: Trump has issued an executive order on digital assets, marking new steps towards regulation.
Calendar
Jan. 20-24: World Economic Forum, Davos, Switzerland.
More details can be found on CoinDesk.
