The Luna and UST crash mentioned in the last newsletter became an implosion unlike any seen in crypto, with both dropping close to 100% in value almost overnight. Combined with a bearish macroeconomic landscape, the entire crypto space lost trillions of market value in May.

Long-term builders remain unaffected. Most of the focus has been on preparing for the Merge, with testnets undergoing their own versions in June before it's carried out on mainnet.

At Etherscan, we continue to buidl regardless of market movements. Our latest enhancements include the Sepolia testnet explorer and a couple of long-awaited additions to the Etherscan API.

Our guest post and quiz this month touches on stablecoins - exploring a framework for viewing and classifying them as products. Answer the quiz and stand to win $10 in ETH.

Stablecoins Are Products

A framework for classifying stablecoins through the lens of a product, which may help future consumers to evaluate them as the separate financial instruments that they are, covering:

• Definition & history
• Main categories
• The stablecoin trilemma
• Questions to evaluate

FEATURE

Sepolia Explorer

A testnet block explorer for devs to use even post-merge. For a faucet, click here.

FEATURE

New API Endpoints

Long-awaited API changes! ERC-1155 token transfers and a Method field for transactions.

The Hitchhiker's Guide to Ethereum

An in-depth guide going over key components being added to the Ethereum blockchain including danksharding, PBS, MEV and data availability.

members.delphidigital.io

US DOJ's First Digital Asset Insider Trading Scheme Charge

An ex-product manager at OpenSea faces up to 40 years in prison for making $40,000 from trading NFTs before they were featured on the site.

justice.gov

Ethereum Beacon Chain Suffers Longest 'Reorg' in Years

The Proof-of-Stake consensus layer suffered a 7-block reorganization, caused by an incomplete rollout of updates rather than an issue with POS.

decrypt.co

Proof of Stake and Cloudflare's Next Experiments in Web3

Cloudflare will be running validators for Ethereum's consensus layer - a huge statement of intent following on from their support of IPFS gateways.

blog.cloudflare.com

Norway's Central Bank Taps Ethereum Layer 2 For CBDC Trial

The Scandinavian central bank will be using Nahmii to run its Central Bank Digital Currency pilot, marking a milestone for Ethereum L2s.

thedefiant.io

RainbowKit React Library

The library by Rainbow makes it easy for developers to add wallet connection to their dapps. There is also a Figma kit!

rainbowkit.com

Foundry Script to Verify Smart Contracts on Etherscan

Foundry now allows you to verify CREATE and CREATE2-deployed smart contracts on Etherscan simply using `forge script --verify --broadcast`.

github.com/foundry-rs

Sequoia's Advice for Crypto Founders

For founders struggling in the bear market, advice from Sequoia's 50 years of experience includes doubling down on core product plus get a great CFO!

twitter.com/michellebailhe

Crypto Boy: a Viral Sensation

TikTok user @julytheginny's riff of a song poking fun at crypto boys went viral on Twitter, amassing a million views and a fair few donations.

twitter.com/JulyTheGinny

Transaction: Message from a 'Malicious' Ropsten Miner

A miner succeeded in trolling the Ropsten testnet by pushing its total difficulty past its Merge target, calling it stress testing.

Address: OpenSea's Seaport Contract

The open source NFT marketplace contract skipped Solidity straight into Assembly code for some parts, sparking developer debates on optimization.

Questions received last month:

How does Etherscan figure out the name of a token?
The ERC-20 Name function is displayed by default. Exceptions are made for ERC-1155 tokens that do not have the function or in cases of public interest, where names are added based on the project's updated token info.

Where can I find the security audit of a smart contract?
For contracts that have a security audit added, head to its Address page > Contract tab > Code section and scroll down to the Contract Security Audit. Submit any new audit reports here.

Confused with some terms in this newsletter?
Remember to check the Etherscan glossary!

Looking for a job in crypto? Check out these roles below:

Product Owner / Manager - DeFi Orderbook DEX at ULTRADE | Remote

Fullstack Software Engineer at Den | New York, USA

Content Manager at Magic Square | Remote

Web3 Content Manager / Editor at Peaq Technology GmbH | Remote

POLL

Quiz: Stablecoins

A test of your knowledge on stablecoins. Take it and stand to win $10 in ETH.