• Morpho Labs introduces Morpho V2.

• Gelato introduces the Smart Wallet SDK.

• Spark announces its Ignition Airdrop.

• Optimism Season 8 governance updates.

Morpho Labs unveiled Morpho V2, the latest iteration of its lending platform, featuring an intent-based design enabling scalable fixed-rate, fixed-term loans. The upgrade introduces two core components: Morpho Markets V2, a peer-to-peer system for customizable loans, and Morpho Vaults V2, yield-generating vaults offering instant liquidity and allocation across any protocol. Morpho V2 aims to address current limitations in DeFi, such as the lack of custom loan terms, predictable rates, and unified liquidity. It’s also complementary to Morpho V1, which currently holds over $6 billion in TVL. The platform also aims to attract institutional capital to onchain lending. Morpho Labs will first launch Vaults V2, followed by Markets V2 once audits are complete. 

Smart contract automation platform Gelato Network introduced the Smart Wallet SDK, a modular toolkit designed for building wallet applications. The toolkit includes support for EIP-7702, gasless UX, and embedded wallet integrations. EIP-7702 enables externally owned accounts to be upgraded into programmable smart accounts. Gelato’s Multichain Gas Abstraction supports gas sponsorship and ERC-20 payments across 50 supported chains. The toolkit leverages Wallet-as-a-Service provider Dynamic to enable embedded wallets with social, email, or passkey login. Each module in the toolkit is vendor-agnostic and can be used independently.

Spark Protocol launched an Ignition airdrop, distributing 300 million SPK tokens to DeFi users involved with USDS-centric activities. Users will have six weeks to claim once the airdrop goes live, with unclaimed tokens moved to the Overdrive allocation phase. Eligible tokens include USDS, sUSDS, sUSDC, sDAI, xDAI, or SAI. Eligibility criteria include lending activities on SparkLend and other DeFi platforms, each earning "Ignition units" to determine the airdrop share. Snapshots were taken on April 15 of 2023, 2024, and 2025 across Ethereum Mainnet, Base, Arbitrum, and Gnosis. Spark Protocol currently holds over $6 billion in TVL. The SPK token is the governance token of the Spark Protocol ecosystem

Optimism announced updates to its Season 8 governance, which will prioritize stakeholder accountability, not just tokenholder power. Season 8 governance introduces a formal, onchain-verifiable model of Citizenship. The Citizens’ House, which uses a 1-member, 1-vote system, is now subdivided into end-users, apps, and chains. Optimism will implement governance-minimized decision-making by applying Optimistic Approvals to certain decisions. Optimism Season 8 governance will go live on July 24, 2025.

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• Ethereum internship applications

• Stripe Connect stablecoin payments

• Coinbase introduces One Card

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