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Ethereum is launching the Hoodi testnet, with Pectra set to go live on the mainnet more than 30 days after Hoodi successfully forks. Ethereum’s Pectra deployment is looming, currently slated for the mainnet deployment for late April. In the run-up to the mainnet deployment, Ethereum ( ETH ) has been running tests to evaluate implementation of its various features on testnets. The two most recent testnet deployments were on Holesky on Feb. 24 and then Sepolia on March 5. On March 17, Ethereum will launch another testnet Hoodi to test validator exists, according to Ethereum developer Tim Beiko . If testing on Hoodi is successful, Pectra can be deployed on the mainnet 30+ days after Hoodi forks. ACDE Recap A new testnet, Hoodi, is going live Monday to wrap up Pectra testing, if you need to test validator exits, be on the lookout for it! Everything else can be tested on Sepolia & Holesky. Pectra will be scheduled 30+ days after Hoodi forks successfully, pending infra… pic.twitter.com/FK05GmtPnk Among the key changes in the Pectra upgrade is introduction of account abstraction ( EIP-7702 ), which will allow users to pay transaction fees with coins like USD Coin ( USDC ) instead of ETH. Additionally, the upgrade will roll out Staking Enhancements (EIP – 7251), increasing validator staking limit from 32 to 2048 ETH. Apart from EIP-7702 and EIP-7251, which are the key highlights of the Pectra upgrade , other major EIPs include EIP-7691, EIP-7623, EIP-2537, and EIP-7549. EIP-7691 proposes an update to improve transaction scalability and reduce network congestion. EIP-7623 aims to enhance privacy by allowing users to hide certain transaction details. EIP-2537 focuses on optimizing contract execution, reducing gas costs, and improving the efficiency of smart contract operations. EIP-7549 seeks to improve the interoperability between different Ethereum layer 2 networks.

XION, a layer 1 blockchain backed by Circle and Multicoin, becomes the first mainnet platform to comply with European Union regulations. The walletless blockchain, focused on bridging web2 and web3, announced the milestone in a press release shared with crypto.news on March 13. Following the news, the utility token—used for network fees, governance, and proof-of-stake security—bounced more than 10%. XION was trading around $0.90 at the time of writing. According to the venture capital-backed L1, EU compliance also sees it become the first blockchain network to release a Markets in Crypto-Assets whitepaper . XION achieved this milestone a few months after launching its mainnet and conducting a gamified initial token airdrop. The chain abstraction mainnet went live in early December, just days before the EU’s MiCA rules took full effect on December 30, 2024. With this achievement, XION is now the first layer 1 platform to align with MiCA’s Title II regulatory framework, which provides guidelines for governing crypto-assets across the European Union. The XION team plans to leverage the regulatory clarity that MiCA offers to expand its footprint in the region by targeting institutional investors. “By adhering to the EU’s evolving regulatory landscape, it ensures that institutions and users can both gain access to XION in a compliant manner, strengthening the foundation for broader adoption of Web3,” Burnt Banksy, founder at XION, said in a statement. Title II of the EU’s comprehensive market guidelines targets digital asset issuers, offerors, and providers looking to bring their crypto trading products to customers in the 27-member bloc. XION will use this compliance milestone to accelerate Web3 access, with its technology stack helping to remove the hurdles that hinder broader adoption. Generalized abstraction, meta accounts, and signature abstraction are key features of XION’s infrastructure layer.

Decentralized finance protocol Compound is marching ahead with plans to tap into its competitor Morpho with the launch of new lending vaults on Polygon. The new vaults went live on March 13 at 11:30 a.m. Eastern Time. It comes after a governance proposal aimed at bringing Morpho ( MORPHO )-powered vaults to Polygon ( POL ). Gauntlet and Compound ( COMP ) are launching the new lending vaults with $3 million in incentives – $1.5 million each from Compound and Polygon. While this move has already been a major talking point for COMP holders and the broader DeFi community, the announcement signals a significant shift in the decentralized lending space. Essentially, Compound is transitioning from its own technology stack to Morpho’s infrastructure — a major development in the DeFi landscape. Morpho co-founder and CEO Paul Frambot described the development as a “full-circle moment.” “We’ve come full circle with Compound choosing to build on Morpho. Morpho started as an optimizer on top of Compound before evolving into a fully independent lending primitive. Now, Compound is transitioning to build on Morpho,” Frambot noted. In January, Gauntlet introduced the proposal targeting the new lending vaults on Polygon. The platform viewed the collaboration as a strategy to improve risk controls, accelerate asset listings, and offer a sustainable path forward for Compound. Notably, Compound has seen its market share decline as Aave ( AAVE ) and Morpho grow, with Aave’s v4 seen as an upgrade that would further shrink Compound’s revenue and market size. Using Morpho to generate the yield, criticized by others, is a pathway to benefiting COMP holders, per the governance proposal. Compound will leverage Morpho’s lending infrastructure, Gauntlet’s risk management framework, and Polygon PoS’s low fees and deep liquidity to reshape the on-chain lending landscape. Morpho, which raised $50 million in a funding round backed by Coinbase Ventures and a16z in 2024, currently has a total value locked of over $3 billion. The DeFi giant Aave’s TVL per DeFiLlama is over $17 billion and Compound’s is $2.3 billion .

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