OP Bulletin: Fault Proofs are live! | Jun 13th
TL;DR:
- Fault Proofs are live
- Xterio’s XterETH Chain joins the Superchain
- Introducing the Superchain Identity
- Silo Optimism is live
- Optimism Gathering at ETHCC
- Participate on Onchain Summer Rounds
- New Code Of Conduct Council Budget Proposal
- Elections & Proposals move to a vote
- Retro Funding 4: Submission closes & Application Review Process
Ecosystem News
Fault Proofs are live
After the implementation of Protocol Upgrade #7, open source, permissionless fault proofs are live on OP Mainnet. The OP Stack arrives at Stage 1 decentralization!
The system brings an improved trust model: “it enables users to withdraw ETH and ERC-20 tokens from L2 to L1 without the need to involve any trusted third party like the sequencer or any other centralized infrastructure.” To ensure a safe rollout, the Security Council retains the ability to intervene during failures in the Fault Proof System or manual upgrades. Soon more OP Stack Chains will upgrade to include fault proofs, starting with Base, Metal, Mode, and Zora.
Announcement | OP labs post | Livestream June 13th 19:00
Xterio’s XterETH Chain joins the Superchain
Xterio launches XterETH Chain, focused on Web3 gaming, joins Base, Zora, Metal, Cyber and many more chains in the OP Superchain.
Introducing the Superchain Identity
3DNS announced the launch of The Superchain Identity, the new identity layer of the Optimism Collective, built on ENS, developed and maintained by 3DNS. .super.box and .chain.box identities integrate both Web2 and Web3 features allowing users to host websites, create emails, while also doubling as a ENS to send and receive crypto.
Get notified upon launch | Read more
Silo Optimism is live
Silo, a non-custodial lending protocol, launches Silo Optimism. Silo creates individual lending markets for each base asset, isolating Silo markets from each other. Silo Optimism is an identical deployment for Optimism L2 of the audited, and formally verified Silo Protocol. It aims to unlock secure, inclusive, and transparent lending for the OP Superchain.
Optimism Gathering at ETHCC 
Connect with the Optimism community at ETHCC through the Optimism Gathering, a community driven event with 20+ panels, talks, and workshops. You can now apply as a speaker!
Participate on Onchain Summer Rounds
Showcase what you are building on the Superchain! Onchain Summer Rounds will distribute 60k OP in weekly rounds to creators and builders across eligible Superchain networks during Onchain Summer, from June 3 to August 30.
Governance News & discussions
We’re in the Reflection Period: Special Voting Cycle #23b (June 13th - June 20th). You can find more info in the Voting Cycle Roundup
New Code Of Conduct Council Budget Proposal
After the last budget proposal with a proposed amount of 55.000 OP was defeated. @juankbell proposes a second budget for consideration. This budget outlines 5 council members (receiving 4.000 OP each) and a Council Lead (receiving 6.000 OP), resulting in a total budget of 26.000 OP. Overall, this proposal outlines 1 subcommittee without the subgroup of SupportNERDs assisting the activities of the Council and its operation budget is 29.000 OP lower than the one defeated on cycle 23a.
The Code of Conduct Council will only oversee the Rules of Engagement. Members will process CoC related reports, publish a summary of enforcement decisions, facilitate and participate in discussions of CoC topics and participate in organizing and managing internal work. The lead has the additional responsibilities of acting as a tiebreaker if needed, stewarding the team, while communicating with the Optimism Foundation, and other commissions.
The proposal received the necessary approval and will be voted on from June 13th to June 20th. Read the proposal
Token House Elections & Proposals move to a vote
After obtaining the necessary approvals, several proposals will proceed to a Token House vote from June 13th to June 20th. These proposals include the new CoC Council budget, as detailed above, along with the Token House elections and other proposals thoroughly discussed in last week’s OP Bulletin.
- Fjord Network Upgrade: to include FastLZ, Brotli compression algorithm, implementation of RIP-7212, and new parameter changes
Read the proposal | OP Bulletin’s summary
- Token House Elections: 17 spots in the Grants Council to join the Grants Council Lead: 12 reviewers, 3 Milestones and Metrics subcommittee members, 2 Audits reviewers. Grants Council Nominees GC Townhall
- Token House Elections: Developer Advisory Board Nominees DAB Townhall
- Chain Delegation Program Amendment: increasing its size to 20M OP and outlining new qualifying criteria
Read the proposal | OP Bulletin’s summary
- Anti Capture Commission Amendment: to refine its mandate and goals, membership criteria.
Read the proposal | OP Bulletin’s summary
Voting Reminders
Vote on vote.optimism.io from June 13th to June 20th:
-
Token House Elections for: Grants Council & Developer Advisory Board
Grant News
Retro Funding 4: Application Review Process
Retro Funding applications closed last week. We are now in the application review process until June 19th, where badgeholders review applications removing those that fail to comply with application rules and eligibility criteria). Until June 16th, the Optimism team is testing the voting interface.
Voting for Retro Funding 4 begins Sunday 23rd.
Upcoming Calls
- Joint House Community Call [Tuesday, June 18th]
You can add Optimism governance calls to your calendar here.
Optimism Collective Resources
- Forum discussions
- Optimism X account
- Optimism Governance X account
- Governance calendar
- OP Hub - home of optimistic resources
Stay Connected, Stay Informed
Every week, we analyze new proposals, summarize discussions, and provide you with the tools to bring informed contributions to the Collective. Subsribe so you don’t miss the next one on: opbulletin.substack.com