FacetSWAP

Facet introduces FCT, a native gas token mined by burning ETH on Ethereum L1, eliminating bridge risks common in other rollups. The system features: - Direct mining through L1 transactions with calldata - Dynamic difficulty adjustments based on mining targets - Supply cap of 1.646B FCT with halving milestones - Interactive CLI miner tool with mainnet/Sepolia support Current testnet activity shows significant engagement, with 5K+ Sepolia ETH burned in the past week and 300-500 transactions per block. Mainnet launch scheduled for December 10th. [View live stats](https://fct.fyi) [Access miner tool](https://github.com/0xFacet/fct-miner)

The @cantinaxyz security contest for Euler v2 has concluded with 602 researchers participating. While no high or medium security issues were found, $200k was awarded to researchers who identified low-severity issues. @CertoraInc's formal verification successfully detected all 27 mutants across 8 contracts. Key highlights: - 602 security researchers participated - No high/medium security issues found - $200k awarded for low-severity findings - 27/27 mutants detected in formal verification Cantina's team received praise for organizing the contest and providing an effective security enhancement platform.

Facet has been recognized among the top 30 Ethereum open-source projects in Gitcoin's GG23 Retro Funding Round. The project focuses on building unstoppable rollups that truly inherit Ethereum's L1 security. Key points: - Community members can vote without spending money - Voting focuses on open source metrics - Developer Retention is a crucial metric for Facet - Project previously launched on Gitcoin Grants #GG22 - Features mechanical neutrality with: - No centralized sequencer - No upgradeable contracts - No privileged keys - No governance council - No enshrined gas bridge Vote here: [Gitcoin RF Vote](https://beta.rf.vote.gitcoin.co/#/42161/862) Support future builders: [Gitcoin Grants](https://grants.gitcoin.co)

Key infrastructure players are gathering at ETH Denver for significant discussions on Web3's future: - @dumbnamenumbers and @ankr will present on next-generation infrastructure and Facet's development at BLUEPRINT panel - Event features multiple infrastructure-focused sessions including: - Uniting Societies (Feb 28): Digital identity and Web3 social infrastructure - Proof Point (Feb 29): Decentralized infrastructure and modular blockchains - Infra Gardens (Mar 1): Premier meetup with RippleX, Kwil, and other leaders The conference aims to shape emerging narratives in decentralized infrastructure, modular oracles, and RWAs. [Register for BLUEPRINT](https://lu.ma/igoyx65u)

A collaborative breakfast series is being hosted at Whittier Cafe during ETH Denver, focusing on cutting-edge Ethereum and interoperability research. The event brings together key players in pre-confirmations and based rollups. - Daily breakfast meetups - Location: Whittier Cafe - Featured organizations: Interstate Foundation, Traders Guild, Avail Project, Rome Protocol, and Fermah Additional related events include a Parallelized EVM panel on March 2nd featuring speakers from Sushiswap, Fuel Network, and Pontem Network. [Register for breakfast series](https://lu.ma/96w29ktk)

Facet announces partnership with Succinct Labs to implement ZK fraud proofs, addressing key challenges in traditional fraud proof systems. The new system significantly reduces bond requirements from hundreds of ETH to just 5-15 ETH. Key improvements: - Single-step verification replaces complex multi-round games - Direct smart contract proof verification - Enhanced capital efficiency While Facet doesn't use protocol-level bridges, this advancement enables more secure L1<>L2 messaging for apps. **Resources:** - [Facet Whitepaper](https://facet.org/whitepaper) - [OP Succinct Lite Details](https://blog.succinct.xyz/op-succinct-lite/) - [Fraud Proof Trilemma](https://medium.com/l2beat/fraud-proof-wars-b0cb4d0f452a)

The evolving NFT collection 'From A to B' on FacetNFT has opened a special window featuring guest artist Jack Butcher. Holders can now evolve their 'I' tokens into 'J(B)', with 48 unique variations available. Key details: - 48-hour evolution window now live - First-ever guest artist contribution - Evolution requires burning previous letter - Two strategies available: * Direct I → J(B) evolution * H → I → J(B) over multiple windows [Evolve your NFT here](https://facetnft.com/collection/from-a-to-b/evolve) Don't miss this limited window to participate in this historic collaboration.

A significant shift in blockchain scaling strategy is emerging, focusing on optimizing Layer 1 (L1) directly rather than building additional layers. Key points: - The approach suggests scaling solutions can be implemented within Ethereum's base layer - This perspective challenges traditional multi-layer scaling theories - Implementation focuses on reinterpreting transaction and data handling on L1 This strategy aims to maintain security and decentralization while reducing costs through innovative transaction interpretation methods.

Facet, a new computation platform built on Ethereum, has launched with a focus on affordability and security. The platform leverages Ethscriptions technology to enable cheaper transactions while maintaining Ethereum's security guarantees. Key features: - All transactions and data stored directly on Ethereum - Novel interpretation method reduces costs - Maintains full decentralization - No compromise on security standards The platform represents an innovative approach to blockchain utilization, offering a cost-effective alternative to traditional Ethereum transactions.

Facet introduces Bridge & Call, enabling users to bridge value and execute swaps in a single Ethereum transaction. This innovation is unique to Facet due to its atomically-based sequencing technology. Key features: - Single-transaction bridging and swapping - 30% gas fee savings compared to separate operations - No wallet disconnection from Ethereum mainnet required - Instantaneous and synchronous execution The update represents a significant improvement in cross-chain user experience and interoperability. Facet's approach maintains Ethereum's security while reducing complexity and costs.