Unlink se integruje s Eulerem a přidává institucionálnímu lendingu transakční soukromí. Instituce tak mohou na Euler vaults půjčovat a spravovat pozice bez veřejného odhalení své aktivity.
Unlink is integrating with Euler to bring transaction privacy to institutional lending.
The integration routes capital into Euler vaults through @unlink_xyz’s privacy layer, a smart contract deployed to existing chains supported by Euler.
Institutions will be able to supply, borrow, and manage positions while reducing the public link between their wallet and the vaults they use, the activity they take, and the size of those positions.
Onchain lending is public by defaultPutting capital onchain can expose more than a transaction. It can reveal which vaults a desk supplies into, how much capital sits in each, and how those allocations change over time.
Given an address, an outside observer can infer strategy from public transaction history. Position sizes can signal conviction. Reallocations can show how a desk is changing its view. For institutions managing meaningful size, that visibility can be a reason not to participate.
Unlink reduces that exposure by routing activity through a privacy layer.
Organizations can hold accounts, move tokens, and interact with smart contracts while keeping balances and transaction history out of the normal public transaction path.
With Euler, that model is being applied to onchain lending for the first time.
What this will enableInstitutions will be able to supply to and borrow from Euler vaults without making vault selection public.
Position sizes and rebalancing activity can pass through Unlink’s privacy layer instead of being exposed through the normal public transaction path. The integration uses Unlink’s existing contract-interaction flow, with no new chain and no bridge.
Builders will be able to offer private access to Euler vaults through the Unlink SDK, in either non-custodial or custodial form.
Why EulerEuler’s vault architecture is becoming a natural fit for institutional lending infrastructure because it lets teams create isolated markets with explicit parameters for collateral, pricing, interest rates, and liquidation. Unlink can add privacy around user activity without changing how the market works underneath.
The vault remains a standard Euler vault, with its own rules and risk parameters. Only the visibility of the interaction changes.
The same architecture gives institutions configurable lending markets, isolated vaults, and a privacy layer around market activity.
A model for private onchain creditThe same structure can extend across markets built on Euler vaults. Each vault is an isolated contract with a standard interface, so privacy layers, treasury systems, and institutional front ends can connect to Euler markets without rebuilding the integration for each vault.
Euler provides the lending venue, with vault-level parameters for collateral, pricing, interest rates, and liquidation. Unlink provides the privacy layer, so builders can offer shielded access to onchain credit markets without creating a separate lending stack.
Where institutional lending goes nextOnchain lending gives institutions markets where settlement, collateral rules, oracle choices, interest rates, and liquidation logic can be inspected directly. Market infrastructure can be public and verifiable. Account activity does not need to reveal every allocation decision.
Institutional credit needs that separation. Firms should be able to evaluate the rules of a market without publishing their own strategy every time they allocate, rebalance, borrow, or withdraw.
Euler provides configurable lending markets with clear vault-level rules. Unlink adds transaction privacy around how institutional capital moves into those markets.
Together, they make onchain lending more usable for institutions that need programmable credit markets without making every position part of the public strategy graph.
This article is informational only and is not financial, legal, tax, or investment advice. Euler provides lending infrastructure. Euler does not manage, sponsor, advise, or distribute the underlying assets or funds. Eligibility to access or transfer tokenized assets may be restricted, and DeFi markets involve risks including smart contract, oracle, liquidation, liquidity, collateral asset, stablecoin, regulatory, and total loss risk.
Francouzská banka ODDO BHF spustila eurovázaný stablecoin EUROD, který bude zalistován na platformě Bit2Me. Projekt je v souladu s rámcem MiCA a míří na platby i firemní použití.
French banking giant ODDO BHF has made a significant entry into the cryptocurrency market by launching its Euro-pegged stablecoin, EUROD. According to CoinDesk, this stablecoin will be listed on the Madrid-based Bit2Me platform. Positioning itself as a low-volatility payment tool, EUROD is targeted for both individual and institutional use. The project aligns with the European Union’s MiCA framework. Supported by institutions like Telefónica and BBVA, Bit2Me reinforces the trust factor combined with a banking-backed issuer. ODDO BHF, with a 175-year history and over €150 billion in asset management, is crafting a new bridge between traditional finance and blockchain technology.
EUROD Coin: A New Digital Euro Under MiCA ComplianceEUROD is defined as a compliant digital Euro version under the MiCA framework. The target audience comprises users who want to conduct transactions within a regulated framework for payment and transfer scenarios. Bit2Me, a scaled player in Spanish-speaking markets, considers this listing as a bridge. Leif Ferreira, CEO of Bit2Me, emphasizes the mission to expand the set of regulated and reliable assets, stating that a bank-supported Euro peg will accelerate the platform’s corporate expansion.
Earlier this year, Bit2Me grabbed attention with a €30 million funding round led by Tether. When ODDO BHF’s banking status merges with Bit2Me’s market reach, the Euro-pegged digital payment layer aims to capture corporate demand in treasury, commercial payments, and cross-border transfers, in addition to individual users. The involvement of European issuers amid a global dominance of dollar-pegged coins increases currency diversity.
Growing Competition for Euro-Pegged Stablecoins in EuropeThe European market has grown familiar with bank-supported Euro-pegged stablecoins, with Société Générale-FORGE’s EURCV launch. As of September, nine banks, including ING, Banca Sella, Danske Bank, DekaBank, and CaixaBank, had announced MiCA-compliant Euro-pegged stablecoin initiatives. EUROD by ODDO BHF positions itself in this league with oversight from banking and the narrative of regulated reserves. Its differentiating factor is an exchange listing that prioritizes accessibility from day one.
Despite the market being dominated by dollar-based stablecoins, the options for Euro-based payments and corporate cash management are anticipated to rise. The natural advantage of Euro-denominated settlements in intra-European exchanges, combined with regulatory clarity, may accelerate adoption. EUROD’s deployment on Bit2Me highlights an attempt to unite regulatory compliance with market liquidity.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bankinter získal menšinový podíl v Bit2Me a připojil se k investičnímu kolu v hodnotě 30 milionů eur ($33 milionů) spolu s Tether. Dohoda posiluje kapitálovou strukturu Bit2Me a jeho ambice v Evropě i Latinské Americe.
Bankinter has taken a minority stake in Spanish crypto exchange Bit2Me, joining a $33 million funding round that also included Tether.The investment strengthens Bit2Me's capital structure and supports its regulatory ambitions in Europe and Latin America, as it operates under the EU's new MiCA regulation, the exchange said.The deal marks another example of traditional banks collaborating with crypto firms, with Bit2Me already working with major Spanish financial institutions including BBVA, Unicaja and Cecabank.Spanish banking giant Bankinter has taken a minority stake in crypto exchange Bit2Me, joining a 30 million euro ($33 million) funding round involving Tether in August 2025.
The investment adds another traditional bank to Bit2Me’s growing list of backers, which already includes major local financial institutions including BBVA, Unicaja and Cecabank.
Bit2Me, headquartered in Madrid, is among the first firms registered under the EU’s new Markets in Crypto-Assets (MiCA) regulation, allowing it to operate across the entire European bloc. The company has positioned itself as a business-to-business gateway for banks seeking compliant access to crypto markets.
Bankinter said in a release that the deal is aimed at fostering “technological and knowledge-based synergies,” specifically in areas leveraging distributed ledger technology (DLT).
While exact terms weren’t disclosed, the agreement strengthens Bit2Me’s capital structure and adds weight to its regulatory ambitions in Europe and Latin America.
Over the past 18 months, Bit2Me has quietly embedded itself in traditional finance. It acts as a backend crypto service provider for Turkey’s Garanti BBVA, and jointly launched a custody and trading platform with Cecabank, according to documents shared with CoinDesk.
In a statement, Bit2Me CFO Pablo Casadío framed the Bankinter deal as a sign that banks are choosing collaboration over competition.
“This alliance confirms that the banking sector can leverage our deep industry know-how to enhance its offering. Instead of competing, we are integrating strengths,” Casadío said.
The firm’s ties to traditional financial institutions go deeper, however. In July 2024, Spanish bank Unicaja, through its investment arm Unicaja Ventures, acquired a stake of over 5% in the exchange and secured a seat on its board of directors.
HTX DAO spustila řadu opatření pro $HTX, včetně stakingu, obchodního využití a deflačních mechanismů. Od 1. dubna bude na Huobi HTX jediným tokenem pro úhradu poplatků se slevou 25 %.
PANews reported on March 18th that, according to official sources, HTX DAO has recently launched a series of empowerment measures surrounding $HTX, covering multiple dimensions such as compliant market expansion, on-chain staking, trading application scenarios, and deflationary mechanisms, to enhance $HTX's positioning and long-term value in the new market cycle. Specifically, these include: On March 4th, $HTX officially launched on the European compliant trading platform Bit2Me, further broadening fiat currency access and user participation channels in Europe. On March 16th, HTX DAO launched the $HTX staking Beta version, allowing users to earn rewards through staking and participate in HTX DAO governance. The official version will subsequently launch an interest rate increase campaign, with a maximum annualized yield of 10%. Furthermore, starting April 1st, $HTX will become the only fee-deductible token on the Huobi HTX exchange, offering users a 25% discount when using $HTX to pay fees. On April 15th, HTX DAO will implement its Q1 2026 quarterly burn plan to continuously optimize the $HTX circulating supply structure. The ongoing implementation of multiple initiatives is gradually improving the collaborative system of $HTX in trading, governance, and supply mechanisms, providing multi-dimensional support for $HTX's value proposition in the new market cycle.
Unizen po bezpečnostním průlomu za zhruba 2,1 milionu USD začne okamžitě proplácet 99 % postižených uživatelů. Náhrada se týká ztrát do 750 000 USD, vyplacených v USDT nebo USDC.
Unizen, a decentralized finance (defi) protocol, has committed to reimbursing users who lost $750,000 or less at the earliest opportunity, following a significant security breach that resulted in the loss of approximately $2.1 million in user funds.
Blockchain analytics firms PeckShield and SlowMist played crucial roles in identifying and assessing the breach on March 9.
PeckShield first detected an “approve issue” on March 9, leading to the discovery that over $2 million had been siphoned from the platform. SlowMist’s investigation confirmed the total losses amounted to around $2.1 million, noting that the stolen funds were converted from Tether (USDT) to the stablecoin Dai (DAI).
The hacker exploited an external call vulnerability within the Ethereum-based contract, converting the stolen USDT to DAI. The funds remain stationary, with users urged to revoke any approvals associated with the hacker’s address to prevent additional losses.
In response to the theft, Unizen proactively reached out to the hacker with an on-chain message on March 10, offering a 20% bounty for the return of the remaining stolen assets. The company has also engaged with law enforcement and forensic experts to trace the hacker’s identity.
Despite the ongoing negotiations for the bounty, Unizen announced on March 11 its plan to begin compensating 99% of the victims immediately, prioritizing a meticulous, individualized approach to the reimbursement process.
Sean Noga, the founder and CEO of Unizen, has provided personal funds to facilitate the reimbursements, ensuring that users who suffered losses below the $750,000 threshold receive their funds back in USDT or USD Coin (USDC). Cases involving losses exceeding $750,000 are to be addressed individually. Furthermore, Unizen has released a video guide to assist users in revoking platform approvals to mitigate further risks.
Martin Granström, Unizen’s Chief Technology Officer, disclosed on social media platform X that sufficient evidence has been gathered for a comprehensive incident report, which will be published in collaboration with external third-party firms. Granström also reiterated the company’s commitment to enhancing its security measures to prevent future incidents.
This incident underscores the urgent need for the DeFi sector to continually reassess and enhance their security measures to protect user assets from complex online attacks. In a recent event last month, Seneca Protocol experienced a severe security compromise, leading to a sharp 65% decline in the price of its SEN token. CertiK reported that the assailant took advantage of a flaw within the protocol, making off with digital assets valued at around $3 million. Furthermore, the offender moved 1,000 ETH between two independent accounts, bringing the total estimated damages to about $6.4 million.
Following the March 9 attack orchestrated by a malicious actor on Unizen, a decentralized finance (DeFi) protocol, which resulted in the loss of around $2.1 million, it has now been revealed that the hacker behind the attack has moved the stolen assets to Tornado Cash.
In a post by blockchain security firm PeckShield, it was revealed that the hacker moved 2,179,859 DAI from the wallet used in the attack to an unknown wallet on August 7. They then changed the DAI into 865.4 Ether (ETH) and sent it to Tornado Cash in 26 separate transactions. This will be the first time the stolen Unizen funds have been moved since the attack 151 days ago.
After the March exploitation, the Unizens said they would return the stolen funds to users. The plan was led by the CEO Sean Noga, who released personal money to the company to pay back users who lost less than $750,000. For people who lost more, the company said they would look at each case separately.
More so, days after the attack, Unizen chief technology officer, Martin Granström, stated that the company is working with security experts and law enforcement agencies to track down the hacker’s identity. He noted that they gathered various evidence and can now proceed with the post-mortem.
In the same post, he assured users that the firm would invest more in improving its security with every new upgrade as they owed it to their community. However, despite the firm’s effort to catch the bad actor, it does not seem like they have made any headway, as the hacker now has zero balance in their wallet.
Crypto Hacking: A Growing Concern in the Industry The attacker used a decentralized mixer that makes it hard to trace the origin of cryptocurrency transactions. Bad actors often deploy this tactic to hide stolen money.
Similar scenarios have occurred in other major hacks, such as the $308 million hack of the DMM Bitcoin system. In that case, the hackers used Huione Guarantee, an online marketplace that lets people do scams and other shady things, to launder the stolen assets.
Recently, another DeFi protocol Nexera was hacked, and a sum of $1.5M was exploited, which resulted in the company warning its users to stop trading the NXRA token. It was also revealed that the bad actor has already started selling the token for ETH and has already bridged some to the BNB chain.
The bad actor’s address behind the Nexera attack was said to be connected to recent private key compromise cases, such as Concentric Finance, OKX DEX, and Serenity Shield.
The continuous cyber attacks in the crypto space show the need for further industry security improvement. Many investors have lost a lot of funds because bad actors are becoming more rampant. The attack on WazirX last month, which resulted in the loss of over $230 million, further testifies why a quick solution needs to be found to mitigate the act.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Cybersecurity News, News
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
The UwU Lend hacker returns to swipe another $3.7 million.The lending protocol was hacked using a flash loan for $23 million on Monday.UwU Lend users rejoiced on Wednesday after the lending protocol said it was able to fully reimburse victims of its recent $23 million exploit.
But their celebrations were cut short when at 7:46 am London time, the same hacker returned to take another $3.7 million.
That’s despite UwU Lend offering the hacker a 20% bounty — worth $4 million — to return users’ funds from a Monday hack.
According to Yaron Velner, CEO of risk management project B.Protocol, the hacker was able to drain more money from the protocol using its intended functions due to an oversight from its developers.
“The operation today did not entail any manipulation. Just a malicious intent, and erroneous configuration on UwU side,” he told DL News.
It comes after UwU Lend said in a June 12 X post that it had identified and fixed the vulnerability in its sUSDe market that the hacker previously exploited.
“All other markets have been re-reviewed by industry professionals and auditors with no issues or concerns found,” the protocol said.
UwU Lend did not return a request for comment.
UwU Lend began repaying users on Wednesday after the $23 million exploit forced it temporarily offline.
As of 5 am on Thursday, the protocol said it had repaid about $9.7 million stolen in the first hack.
“The protocol will repay all bad debt, as quickly as reasonably possible,” UwU Lend said. “We are happy to announce that no user funds have been lost due to this process.”
UwU Lend’s controversial founder Michael Patryn, better known by his pseudonym 0xSifu, had previously offered to drop any charges if the hacker returned 80% of the stolen crypto, worth about $18 million.
Oracle attackOn Monday, a hacker used a $4 billion flash loan to manipulate the price of certain tokens on UwU Lend, which allowed them to drain the protocol.
A flash loan is a type of DeFi transaction where a user borrows funds from a lending protocol and repays them in the same transaction.
While flash loans are often used by market makers to quickly arbitrage price differences in DeFi markets, they also make possible exploits that require large amounts of capital to perform.
Zircuit co-founder Martin Derka — who co-developed a tool to detect flash loan-based exploits while at crypto security firm Quantstamp — said such exploits were notorious in DeFi.
“These kinds of vulnerabilities are usually very difficult to discover during smart contract audits, because they require in-depth knowledge of multiple protocols — those that one is auditing, and those that are being used as oracles,” he told DL News.
“There are also not enough automated tools that are capable of discovering such vulnerabilities.”
Launched in 2022, UwU Lend is a fork of Aave, the largest DeFi lending protocol with $12.4 billion of deposits.
A fork is where a developer team uses the open-source code from an existing DeFi protocol to launch a similar protocol — often on a different blockchain or with minor changes.
But the changes to Aave’s code allowed the hacker to drain UwU Lend. The protocol used easily manipulated oracles — software that provides it with the prices of various tokens.
UwU Lend’s UWU token is down 15% over the past week, and trades at around $2.70.
Update, June 13: This article was updated to include comments from B.Protocol CEO Yaron Velner that clarify the $3.7 million theft was not caused by a separate exploit. An earlier version misstated the name of the blockchain Martin Derka co-founded; it is Zircuit, not Circuit.
Aleks Gilbert is a DeFi Correspondent at DL News. Got a tip? Email him at [email protected].
UwU Lend na Ethereu přišel při útoku o 23 milionů USD a protokol pozastavil provoz, dokud neskončí vyšetřování. Tým nabídl hackerovi 20% odměnu white hat za vrácení zbytku.
Ethereum (ETH)-based decentralized finance (DeFi) protocol UwU Lend just suffered a security breach that siphoned $23 million worth of crypto from its platform.
In a post on social media platform X, the team behind UwU Lend says the protocol will be paused until the investigation of the exploit has concluded.
[adinserter block="1"]
“Yesterday UwU Lend was the target of an exploit involving a sophisticated attack. The team reacted swiftly and the protocol was paused within minutes. Rates for borrows and deposits have been set to 0% so users’ positions will not be affected by this pause.”
UwU Lend already made an offer to the hacker and is now awaiting a response. In an on-chain message, the lending and liquidity protocol says the exploiter will get a white hat bounty in exchange for returning the stolen assets.
“UwU Lend would like to discuss a bounty with any parties involved in the recent UwU Lend exploit. We are offering a 20% white hat bounty of any funds taken, which you may keep if you return the remaining 80% to uwulend.eth. You will face no risk of us pursuing this further and no risk of law enforcement issues.”
The exploiter has until 5 PM on June 12th to voluntarily return the assets. Otherwise, UwU Lend says it will offer the bounty to the public and reward 20 percent to anyone who can identify the hacker in a way that will lead to a conviction in court.
UwU Lend suffers a second exploit this week, resulting in a $3.7 million loss. The same exploiter is believed to be responsible.
The UwU Lend protocol, previously targeted in a nearly $20 million hack on June 10, is facing an ongoing cryptocurrency exploit that has so far resulted in the theft of $3.7 million.
This development comes as the protocol has been making efforts to reimburse its users following the $19.3 million June 10 hack.
$3.7 Million Hack Cyvers, an on-chain data analytics platform, was the first to alert UwU Lend about the ongoing exploit. According to its findings, the bad actors behind this latest incident appear to be the same as those responsible for the earlier $19.3 million heist.
ALERT@UwU_Lend has suffered another security breach by the same attacker!
Total loss: $3.7M
Affected pools: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, uUSDT
All stolen assets have been converted to $ETH and are located at the attacker’s address: https://t.co/9TvwLh18P1
To learn… https://t.co/AjcMS1Cdyl
— Cyvers Alerts (@CyversAlerts) June 13, 2024
The stolen funds, sourced from various asset pools, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT, have already been converted into Ethereum and transferred to the attacker’s address.
Following the initial breach on June 10, the development team at UwU Lend notified the community that they had implemented immediate measures to mitigate the damage. The protocol was temporarily paused while investigations were conducted into the vulnerabilities exploited by the hackers.
In an update shared on June 12 via a thread on X, the UwU developer team disclosed that they had identified the specific vulnerability related to the sUSDe market oracle and claimed to have resolved it.
You may also like: Important Ripple (XRP) Deadline Concerning Many Users Jaredfromsubway Hacker Ignores 50% Bounty, Routes Funds to Tornado Cash Sahara AI Denies Security Issues as Token Price Drops Over 60% (1/5)
The team has now identified the vulnerability, which was unique to the sUSDe market oracle and has now been . All other markets have been re-reviewed by industry professionals and auditors with no issues or concerns found.
— UwU Lend (@UwU_Lend) June 12, 2024
They added that independent audits of all other markets had been conducted without discovering additional issues, assuring users that all functions would resume promptly and emphasized that no user funds had been permanently lost during the incident.
Reimbursement Efforts Following the incident, UwU initiated reimbursement efforts, informing users that “The protocol will repay all bad debt as quickly as reasonably possible. We will keep users up to date about progress and the next steps.”
In a final update on June 13, the team reported that they had successfully reimbursed a total of $9,715,288 to affected users thus far. The breakdown included specific amounts returned in various cryptocurrencies such as DAI, crvUSD, USDT, and wETH.
UwU Lend, a fork of the open-source AAVE v2 protocol, offers its users various decentralized finance services such as lending, borrowing, and staking. One of its unique features includes a revenue-sharing token called UwU, which allows users to earn a portion of the platform’s revenues directly.
Šéf Curve Michael Egorov uvedl, že hack zasáhl samostatný projekt UwU Lend, ne Curve Finance, a že CRV použitá jako kolaterál už byla splacena. Zároveň vyzval k nové revizi kontraktů a lepším bezpečnostním auditům.
The leading cryptocurrency is trading at $66,700, and altcoin sales have weakened. One of this week’s most significant developments was the UwU Lend attack. The Curve CEO made important statements to clear up misinformation. What did he say?
The Curve CEO spoke about the UwU Lend hack and the CRV token burn. Michael Egorov has been in the spotlight during many market downturns. Speculative traders targeting the liquidation price of his DeFi position have often triggered significant losses in the CRV Coin price through social media discussions.
Egorov made the following statements regarding recent events:
“This was not an exploitation of Curve Finance. It was an exploitation of a separate project (UwU Lend). As part of the cash-out game, the hacker deposited the CRVs taken from UwU into lendcurvefi (LlamaLend) and disappeared with the funds, leaving the debt in the system.”
To prevent similar attacks in the future, he suggested “revalidating all contracts and having them reviewed by good security auditors.”
CRV Coin BurnThere was a lot of misinformation, which also triggered recent CRV Coin price fluctuations. Egorov made statements on this matter as well. These statements were crucial to preventing the spread of false information on social media:
“This information was tweeted by a fake (impersonator) account, accompanied by a scam link. Several journalists did not verify the news and published it.”
So, what are the positions of the Curve CEO?
“The CRVs sent as collateral for loans likely accounted for about 30% of the circulating supply; half of this was in Curve, so indeed some doubtful receivables were formed. It was already repaid. No one was affected. For smaller cryptos (e.g., not BTC or ETH as collateral), debt ceilings should probably be provided; data shows that Curve-specific markets can be well parameterized to withstand these conditions.”
Egorov also mentioned that steps could be taken regarding open-source liquidation bots in the future.
“It seems the industry’s heavyweights did not fully know how to handle liquidations; they did not attempt partial hard liquidations for my position in Curve. I had to do it myself in the end. In the future, this area could be better with open-source liquidation bots.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ethereum Glamsterdam Upgrade Moves Toward 200M Gas Limit Roadmap
TL;DR Ethereum’s Glamsterdam upgrade work is moving through devnet planning ahead of a projected H2 2026 mainnet window. EIP-7732, or enshrined proposer-builder separation, is one of the key pieces being tracked by developers. EIP-7928, covering block-level access lists, is another major component tied to parallel execution and higher throughput. The headline target is a path toward a much higher gas limit, but the exact mainnet package remains subject to Ethereum’s normal testing and governance process. Glamsterdam Moves Into Focus Ethereum’s next major upgrade cycle is now turning toward Glamsterdam, a protocol package expected to define the network’s post-Pectra scaling and block-production roadmap. The upgrade is being watched closely because it touches two of Ethereum’s biggest long-running constraints: who builds blocks, and how much execution capacity the base layer can safely support.
Developer materials and EIP discussions point to enshrined proposer-builder separation and block-level access lists as two of the most important items in the Glamsterdam conversation. Together, they help frame a longer-term path toward higher throughput without simply asking every node operator to absorb more load without structural changes.
What ePBS Tries To Fix EIP-7732, commonly described as enshrined proposer-builder separation, would move part of the current external block-building market into Ethereum’s protocol design. Today, block construction often depends on external relay infrastructure and specialized actors. That system has helped the network manage maximum extractable value, but it has also raised concerns about centralization and censorship pressure.
By bringing proposer-builder separation closer to the protocol layer, Ethereum developers are trying to reduce reliance on off-protocol arrangements and create a cleaner separation between validators proposing blocks and builders assembling them. It is a technical change, but it also speaks directly to Ethereum’s decentralization goals.
Why Block-Level Access Lists Matter EIP-7928, covering block-level access lists, is aimed at making execution more predictable by identifying state access patterns at the block level. In plain English, validators and clients could get better information about what a block needs to touch before processing it. That matters because parallel execution is difficult when the system does not know which transactions are likely to conflict.
If block-level access lists work as intended, they could help Ethereum process more activity without turning every block into a heavier, less predictable burden for nodes. That is why the proposal is often discussed alongside higher gas-limit targets and broader L1 scaling.
A 200M Gas Limit Is The Big Headline The most attention-grabbing part of the Glamsterdam narrative is the potential path toward a 200 million gas limit. That would be a major increase from today’s base-layer capacity and would represent a very different Ethereum L1 if it can be achieved safely. But the wording matters: this is a roadmap and testing target, not a guarantee that every detail is locked for mainnet exactly as discussed in current devnet materials.
Ethereum upgrades usually move through a long process of specification, client implementation, devnets, testnets and final coordination. That process is slow by design. Glamsterdam is important because it shows the network is still trying to scale the base layer itself, not only pushing activity to rollups. The risk is that aggressive capacity increases without careful client and node work could weaken the decentralization properties Ethereum is trying to protect.
This article was written by the News Desk and edited by Samuel Rae.
Upbit přidal devět nových obchodních párů včetně PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO a AMP v párech s BTC a USDT, přičemž AMP byl zalistován pouze v páru s USDT. PEAQ po zalistování vzrostl asi o 21,9 %, zatímco GRAM klesl o 2,75 %.
South Korea’s dominant crypto exchange just added nine fresh trading pairs, and the market reactions are already telling a familiar story: some tokens pop, others drop, and everyone scrambles to figure out which side they’re on.
Upbit began listing PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP on June 19, rolling them out in staggered intervals starting at 15:00 KST. Each token received BTC and USDT trading pairs, with one exception: AMP was listed exclusively against USDT.
Staggered launch, mixed results The rollout was methodical. PEAQ and LIT went live first at 15:00, followed by KMNO and MORPHO at 16:00. GRAM, LDO, and PAXG opened at 18:00, with OSMO and AMP closing out the schedule at 19:00.
Advertisement
PEAQ was the clear early winner, posting an intraday gain of roughly 21.9%. Not everyone got the same treatment. GRAM, which is the rebranded version of Toncoin (TON) following a name change effective June 15, declined about 2.75%. LIT slipped by approximately 1.68%.
The tokens: a quick primer PEAQ is a decentralized physical infrastructure network, or DePIN, token built for machine economies. LIT, the native token of Litentry, focuses on decentralized identity aggregation. KMNO powers Kamino Finance, a DeFi protocol on Solana. MORPHO is the governance token of Morpho, a lending protocol optimizer that sits on top of existing DeFi lending platforms like Aave and Compound.
GRAM, as mentioned, is the newly rebranded TON. The rebrand took effect just four days before the Upbit listing, making this the token’s first major exchange debut under its new identity. LDO is Lido DAO’s governance token, one of the most well-known liquid staking protocols in crypto.
PAXG is Paxos Gold, a tokenized representation of physical gold, backed one-to-one by London Good Delivery gold bars. OSMO is the native token of Osmosis, a decentralized exchange in the Cosmos ecosystem. AMP is the collateral token for the Flexa payments network.
Samsung, Dunamu, and the bigger picture These listings don’t exist in a vacuum. They arrive alongside a significant corporate development: Samsung affiliates recently concluded a $408 million acquisition of a 4% stake in Dunamu, Upbit’s parent company. That deal puts Dunamu’s implied valuation at roughly $10.2 billion based on that 4% stake.
Previous listings, including SPX6900 in a recent batch, prompted considerable volume increases on the exchange.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SingularityDAO, Cogito Finance a SelfKey spouštějí Singularity Finance, EVM Layer-2 pro tokenizaci RWA, a spojují své tokeny SDAO, CGV a KEY do nového tokenu SFI. Mainnet má přijít v první polovině roku 2025.
Singularity Finance, an EVM Layer-2 for tokenizing the Real World Assets (RWA) of the AI economy, will be launched via a strategic token merger announced by SingularityDAO, Cogito Finance, and SelfKey.
Web3 will be accelerated by a platform optimized for AI tokenization that is powered by the combination of the three complimentary technologies. By integrating AI assets like GPUs into already-existing DeFi apps and tokenizing them, new onchain primitives will be created, opening up more effective financing sources for AI-driven developments.
With the help of SelfKey’s compliant identity solution, Singularity Finance will leverage Cogito’s tokenization framework to put RWAs onchain, establishing decentralized markets in which users may readily engage. Using SingularityDAO’s AI-driven DynaVaults and other technologies, Singularity’s Layer-2 will provide AI-powered financial tools services that improve and automate analysis, portfolio, and risk management.
Cogito Finance CEO Cloris Chen said:
“The rapid growth of the AI sector is creating significant opportunities for both institutions and retail participants. However, barriers still exist on both the demand and supply sides, limiting broader participation in the AI economy. By developing our own Layer-2 solution democratising AI-Fi, we can overcome these challenges and remain agile in adapting to an evolving regulatory landscape.”
SingularityDAO co-founder Mario Casiraghi added:
“We stand at the intersection of AI and DeFi, where much of the innovation currently taking place within the Web3 space is occurring. AI-Fi harnesses the immense potential of the AI economy by tokenising the AI value chain, creating unprecedented opportunities to access, exchange and monetise these assets.”
The three existing tokens—SDAO, CGV, and KEY—will be combined into a single token, SFI, which will function as Singularity Finance’s network token as part of the merger. With the mainnet release scheduled for the first half of 2025, the SFI token will first be accessible on Ethereum and BNB Chain. The conversion ratios between SDAO, CGV, and KEY will be as follows:
At a ratio of 1:80.353 (1 SDAO = 80.353 SFI), SDAO migrates to SFI. 1:10.890 is the ratio of CGV migration to SFI (1 CGV = 10.890 SFI). Migration of KEY to SFI at a 1:1 ratio (1 KEY = 1 SFI). The 200-day moving average of each token up to August 20, 2024, is the basis for pricing.
A leadership council for Singularity Finance will be formed when the merger is finalized to supervise and direct the activities of the combined financial ecosystem. Mario Casiraghi, CFO of SingularityNET and Co-Founder of SingularityDAO; Cloris Chen, CEO of Cogito Finance; and Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance, will serve as the council’s leaders. The community will have the chance to vote in a governance vote after the merger announcement, which will take place from October 21 to October 31.
The merger will solve the major issues with ownership and accessibility to AI-related revenues and assets that are now present. Users will be able to access yield prospects from compute and AI agents by using SFI-compliant tokenization infrastructure. Additionally, AI market players will be able to create additional liquidity for their assets, increasing the accessibility of high-quality yield supported by AI and hardware. Through its Layer 2—which includes integrated legal frameworks, distribution channels, a marketplace, and AI-powered asset management tools—Singularity Finance will address these issues.
A crypto enthusiast. Loves to write. Gives full dedication to every task assigned. Specializes in delivering on tight deadlines. An animal lover, especially dogs.
GMX a Gains Network předložily návrhy na integraci do připravovaného perpetuals marketplace Kwenta. Cílem je rozšířit likviditu a nabídnout uživatelům více trhů na Arbitrum.
Grand Cayman, Cayman Islands, July 9th, 2024, Chainwire
In a step forward for the derivatives ecosystem on Arbitrum, two prominent DeFi projects, GMX and Gains Network, have unveiled bids to integrate their platforms into Kwenta’s upcoming perpetuals marketplace. Kwenta, the leading perpetual futures exchange on Optimism, expanded its reach earlier this year by launching the Base network, reflecting a larger plan to connect derivatives liquidity across multiple chains. This announcement follows the recent approval of a grant from the Arbitrum DAO aimed at supporting Kwenta’s initial expansion to the Arbitrum network.
Product Offerings from GMX and Gains Network Table of Contents
Product Offerings from GMX and Gains NetworkStrengthening the Arbitrum EcosystemLooking AheadAbout KwentaContact GMX and Gains Network have submitted their proposals to integrate their liquidity into Kwenta’s platform. These integrations aim to enhance the trading experience for Kwenta users by providing access to additional markets and liquidity, while taking advantage of Kwenta’s UX-focused roadmap, which includes allowing traders to log in with traditional web2 credentials and sponsoring gasless transactions.
GMX v2, Arbitrum’s flagship perpetual futures AMM (Automated Market Maker), built on the initial success of their v1 product by being the first to integrate Chainlink Data Streams, a low latency product from the leading oracle provider aimed at high-performance applications. The lower fees and wider selection of markets available on GMX v2 allowed the offering to quickly grow in popularity with onchain traders.
Gains Network, known for its gTrade platform, offers a wide variety of trading pairs, including cryptocurrencies, forex, and commodities, supported by their decentralized oracle network. Gains Network’s innovative approach to perpetual futures provides traders access to up to 150x leverage on a growing list of nearly 200 markets.
Strengthening the Arbitrum Ecosystem The integration of GMX and Gains Network into Kwenta’s perpetuals marketplace is expected to drive growth in the onchain perpetuals space by allowing users to easily access advanced DeFi products from Kwenta’s easy-to-use UX layer. While retail-focused applications have made huge steps forward in allowing users to quickly access the best prices for token swaps and bridging, onchain leverage has remained a complex product for more sophisticated DeFi enthusiasts.
This strategic expansion brings Arbitrum’s most popular derivatives trading venues under a single platform, providing a simple and familiar experience for traders new to onchain products. Kwenta’s roadmap promises to build on these quality of life features, allowing users to interact with multiple protocols in a single application.
Looking Ahead Kwenta is currently inviting community feedback on these proposals as it moves towards finalizing its perpetuals marketplace. The potential integrations with GMX and Gains Network align with Kwenta’s mission to provide a superior decentralized trading experience. With these developments, Kwenta is aims to become a leading venue for DeFi derivatives trading on Arbitrum.
About Kwenta Kwenta is an onchain derivatives marketplace on Optimism, Base, and Arbitrum. The platform offers easy-to-use tools to access deep liquidity and low fees onchain, while users retain full custody of their funds. With over $50 billion in trading volume through its community-governed platform, Kwenta is committed to developing tools that bring DeFi to everyone.
For more details, users can follow Kwenta’s governance discussion channels on Discord.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Synthetix navrhuje koupit Kwentu za zhruba 9,05 milionu nově vydaných SNX. Pokud návrh projde, Kwenta se přejmenuje na Synthetix Exchange a její treasury i governance přejdou pod Synthetix.
Synthetix is looking to regain control over its most popular front-end, with Kwenta driving $60 billion in volume over four years.
Synthetix, the veteran DeFi protocol, is looking to acquire Kwenta, a derivatives exchange that spun out of Synthetix in 2020.
On Oct. 29, a proposal outlining plans for Synthetix to acquire Kwenta, the top project within Synthetix’s ecosystem by trade volume, was published to the governance forums of both Synthetix and Kwenta.
Should both projects pass the proposals, Kwenta would be rebranded as a new incarnation of Synthetix Exchange, Kwenta’s treasury would be absorbed into the Synthetix treasury, and the Kwenta subdao would dissolve with governance over the front-end handed over to Synthetix’s Spartan Council.
Acquisition termsThe deal would comprise Synthetix purchasing 532,375 KWENTA — the token’s entire circulating supply — with roughly 9.05 million ($13.2 million) newly minted SNX tokens, resulting in SNX’s supply inflating by 2.8%.
The deal would be closed at a ratio of one Kwenta to 17 SNX, equating to a 19% discount compared to the price ratio of KWENTA/SNX based on a 30-day moving average. Synthetix said the discount reflects the disparity between the two assets’ trade volume, with SNX driving $20 million in daily volume on major centralized exchanges compared to just $100,000 for KWENTA.
As such, Kwenta acknowledges that it is currently “difficult for tokenholders to access the value for their assets,” meaning the token migration would benefit holders through deeper liquidity.
Following approval, a token migration contract would allow KWENTA holders to burn their assets in exchange for SNX vesting contracts. All SNX received by KWENTA holders would be subject to a three-month lockup and subsequent nine-month linear vesting schedule.
Synthetix told The Defiant that all remaining SNX that have not entered circulation are currently held by the Kwenta and Synthetix treasuries, and will be burned should the proposal go through.
Synthetix ExchangeIn 2020, Synthetix divested its Synthetix Exchange front-end in a bid to revamp itself as a liquidity provision protocol powering a diverse ecosystem of front-end integrations.
However, Synthetix now describes this move as a “strategic error” that created distance between the project end users, in addition to fostering poor economic models for front-end integrations. Despite Kwenta driving more than $60 billion worth of trade in the past four years, the project said it has struggled to establish a sustainable business model for the mid-long term.
“Synthetix lost control of the point where customers most interact with their perp engine, and the commercial model has historically not proven to be sustainable for front-ends,” Synthetix said. “This strategic acquisition will ensure Synthetix is closer to the end customer, so it can build better perp products, which will benefit all integrators… Reuniting Synthetix and Kwenta is the solution to offering a competitive perps product.”
Synthetix said the move would also realign the strategic objectives of it and Kwenta, noting that differences in roadmap priorities have previously resulted in delays for Synthetix shipping upgrades.
Synthetix added that it will continue to work closely with other front-ends and products that leverage its perp engine despite the acquisition.
The price of SNX is up 2.7% over the past 24 hours, while KWENTA is down 5% over the same period.
Synthetix spustil na platformě Kwenta vícekolaterálové perpetual futures a jako hlavní kolaterál přidal Threshold Network tBTC. Rollout zahrnuje i ETH, USDe a USDx a přináší 81 nových trhů Perps.
Synthetix has unveiled its multi-collateral perpetual futures (Perps) on Kwenta, featuring Threshold Network’s tBTC as the primary wrapped-Bitcoin collateral asset. The integration of tBTC marks a significant development for DeFi, expanding options for users seeking decentralized, permissionless, and Bitcoin-backed trading. This announcement has been announced via its official X account.
Why Synthetix Chose Threshold Network’s tBTC? Threshold Network’s tBTC offers a range of unique features that make it ideal for decentralized finance (DeFi) applications. It is backed 1:1 with Bitcoin (BTC) and enables users to mint and redeem tBTC without centralized control or KYC requirements. Furthermore, tBTC is backed by 24/7 on-chain, auditable reserves, ensuring transparency and building user trust in its decentralized custody system.
The DeFi community has already embraced tBTC widely, with 82 integrations across six blockchain networks and over 1,600 holders. Moreover, the supply is already exceeding $293 million as claimed y Synthetix. Threshold’s team is known for actively expanding decentralized Bitcoin applications and is broadening the possibilities with products such as stBTC, thUSD, and SATs.
New Collateral Options for Synthetix Perps Markets The new Perps markets on Kwenta come with additional collateral options beyond tBTC, including Ethereum (ETH), Ethena USD (USDe), and USDx, Synthetix’s stablecoin native to Arbitrum. In total, the rollout encompasses 81 new Perps markets, giving users access to a more diverse and flexible trading environment.
By integrating tBTC and expanding collateral options, Synthetix is reinforcing its commitment to decentralized, multi-collateralized markets that cater to a broad spectrum of DeFi users. This will further advance its role in the decentralized trading ecosystem.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Synthetix koupil TLX a plánuje v roce 2025 spustit incentivní program pro pákové tokeny. Akvizice navazuje na nedávné převzetí Kwenta a má posílit jeho nabídku derivátů.
The recent acquisitions are part of Synthetix’s plans to become a category leader among derivative exchanges.
Ethereum-based derivatives trading protocol Synthetix announced its acquisition of leveraged token platform TLX in a token-for-token transaction, Synthetix said in a Dec. 10 blog post.
The platform is completing a thorough review and audit of all TLX products. After that, it will implement parameter improvements and redeploy all contracts, the statement said. It also plans to kick off a leveraged token incentive program in 2025.
“The acquisition of TLX will mark the first end-customer, revenue-generating product built on top of Synthetix that will be owned and operated by Synthetix. This marks a significant milestone in Synthetix’s commitment to expand its product offering and generate additional value for SNX tokenholders,” the Synthetix team wrote in the blog post.
Synthetic’s TLX acquisition came just a month after it acquired the perpetuals trading platform Kwenta in a similar deal. Synthetix and Kwenta were once one platform until 2020, when they separated to allow Kwenta to focus solely on providing industry-standard trading experiences for Sythetix’s derivatives markets.
The acquisitions are part of Synthetix’s strategy to design a decentralized liquidity layer and become a primary product issuer on top of it.
Synthetix is the sixth largest derivatives exchange by total value locked (TVL), according to DeFiLlama data. The TVL of its v3 has increased by over 1,000% in the last month, likely due to Ethereum liquidity providers migrating from V2, as Messari reported.
Synthetix Leveraged TokensLeveraged tokens are crypto derivative products that offer exposure to the price movements of an underlying asset with leverage. They are designed to amplify a user’s gains or losses and offer a more convenient means to access leverage without dealing with margin trading or holding a collateral asset.
Synthetix’s TLX acquisition allows it to go to market with a leveraged token with six months of history and performance. It is also the first in a line of structured products that Synthetix plans to launch in the coming months as it positions itself as a category leader among derivative exchanges.
Zebec Protocol se přejmenovává na The Zebec Network a mění ticker z ZBC na ZBCN. Součástí je automatická migrace a split akcií 1:10 bez navýšení nabídky.
In a significant strategic move, Zebec Protocol and its ZBC token have transitioned to a new name The Zebec Network and corresponding ZBCN token ticker to better represent the business’s expanded product portfolio and the robust infrastructure network that underpins it. ZBCN to start trading on exchanges today, post automatic migration.
Key details for the ZBC to ZBCN Token Swap
Swap Period: April 10th to May 10th
Supply Stability: No new supply to be introduced into the market
Token Split: A 1:10 token split aims to expand network utility and improve accessibility.
Zebec has evolved, consolidating multiple protocols and integrating a variety of blockchain-enabled payment and payroll products into a unified network. This integration significantly boosts the network’s utility, supporting real-world asset (RWA) payment flows, data, and physical infrastructure (DePin).
Sam Thapaliya, Founder and CEO of Zebec, stated, “Our transition to ZBCN and rebranding to The Zebec Network mark critical steps in expanding our capabilities and enhancing our market presence. ZBCN is better suited for our growing infrastructure, diverse use cases, and the increasing transaction volumes.”
The move to ZBCN is expected to enhance liquidity, encourage wider market participation, and improve scalability. It aligns with Zebec’s strategic vision of creating an inclusive financial ecosystem, paving the way for future innovation and strategic partnerships in the blockchain sector. This transition reflects Zebec’s commitment to adapting its business and technology to meet evolving market demands and user needs.
Token holders are assured of a smooth transition, with the company committed to ensuring a seamless conversion experience from ZBC to ZBCN, thereby preserving and enhancing contributors and token holders value. migration.zebec.io
About Zebec Zebec is a decentralized infrastructure network for real world value flows. Founded in 2021, Zebec has attracted $35 million in investments by Circle, Coinbase, Solana Ventures, Breyer Capital, Republic, and Lightspeed Venture Partners, among others.
Today, Zebec Network powers RWA payments, data and physical infrastructure (DePin), servicing hundreds of companies in web2 and web3 economies, integration blockchain into everyday lives.
Disclaimer: This press release contains forward-looking statements based on current expectations, forecasts, and assumptions, which are subject to risks and uncertainties. It is intended for informational purposes only and should not be considered investment advice or financial guidance. Readers should conduct their own research and consult with financial experts before making any investment decisions.
Veritaseum isn’t backing down from the U.S. Securities and Exchange Commission, as the number of enforcement actions related to the 2017 ICO craze continue to pile up.
The SEC filed an emergency lawsuit last week against Veritaseum in a New York federal court and obtained a temporary restraining order to freeze $8 million in remaining ICO funds held by Veritaseum and CEO Reginald Middleton.
Yesterday, Middleton made public his company’s response to the SEC’s lawsuit—a 423-page document that attempts to answer the Commission’s allegations that Veritaseum conducted an unregistered securities offering and subsequently moved $2 million in an attempt to dissipate funds after being served with a Wells notice on August 12.
Much like the few other crypto startups, such as Kik, that are challenging the SEC’s allegations in court rather than settling their charges, Veritaseum’s response insists that the company’s VERI tokens do not represent securities. Further, the company claims that the movement of 10,000 Ether (worth $2 million at the time) in ICO funds after being notified of the enforcement action "was merely the funding of Veritaseum’s ongoing business operations."
In its filing, Veritaseum is asking the court to unfreeze its assets and lif the TRO. "The temporary freeze in this case has already caused significant harm to the holders of Veritaseum’s utility tokens, the very people the SEC is purportedly seeking to protect," Veritaseum said in its response. Potential harm to token holders is the very same line of reasoning that Kik, perhaps not coincidentally, used in its initial response to the SEC’s Well notice.
A token misunderstandingThe SEC’s investigation of Veritaseum began in the summer of 2017, during which Veritaseum raised $14.8 million in a crowdsale lasting from 2017 into early 2018. The lawsuit alleges that funds were raised on the premise that VERI was a utility token providing access to "products ready to go to market that would replace brokers, banks, and hedge funds."
According to the SEC, the company mischaracterized VERI tokens as utility tokens, manipulated the market for VERI Tokens, and attempted to dissipate ICO funds after receiving the Wells notice.
Veritaseum describes itself as enabling "software-driven P2P capital markets without brokerages, banks or traditional exchanges." Products include VeADIR: Veritaseum Autonomous Dynamic Interactive Research, which pays Veritaseum for "real world research," a vehicle for renting VERI tokens, subtoken creation, and access to the Financial Machine portfolio.
Named for Veritas, the Roman goddess of truth, Veritaseum and its executives appear to think their version of the truth will outweigh the SEC's in court.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Soud zamítl snahu Ripple o stažení žaloby, která tvrdí, že XRP jsou neregistrované cenné papíry. Případ zůstává otevřený a Ripple varuje, že by mohl ohrozit celý trh s XRP.
Ripple failed to dismiss the lawsuit alleging XRP tokens are unregistered securities. The action could “upend and threaten to destroy the established XRP market,” said the motion.
Ripple Fights Lawsuit Over XRP In early August 2019, a complaint was filed against Ripple arguing that its XRP tokens are unregistered securities under U.S. law. The filing represented an update to a lawsuit filed against the San Francisco-based startup in May 2018.
The complaint argues that Ripple violated California’s securities laws and engaged in false advertising and unfair competition. Ripple allegedly blurred differences between its enterprise solutions and XRP to further drive demand. The startup even paid exchanges to list the token.
Additionally, Ripple reportedly limited the supply of XRP to drive price appreciation and made false statements, claiming that the digital asset is not a security.
Advertisement
While the plaintiff demanded XRP to be recognized as a security and compensation for incurred losses, Ripple filed a motion to dismiss the lawsuit in September 2019, claiming the case was not brought forward in a timely manner.
Now, a court document filed on February 26 reveals that Judge Phyllis Hamilton of the Court of the Northern District of California dismissed Ripple’s claims that the plaintiff failed to act in a timely manner.
That said, Hamilton also recognized that the company did not violate California state law. As a result, claims of false advertising were dismissed as well as claims of personal liability against Ripple’s CEO Brad Garlinghouse.
XRP Could Be Deemed a Security Since the case remains open and the plaintiff can amend the complaint, Ripple believes that moving forward with it could “destroy the established XRP market.”
“Were Plaintiff allowed to belatedly challenge the classification of XRP, it would not only threaten to eliminate XRP’s utility as a currency, but it would upend and threaten to destroy the established XRP market more broadly […] potentially wiping out the value held by the alleged thousands of individual XRP holders around the world,” read the motion to dismiss.
Ripple fears that XRP would experience something similar to what happened to other cryptocurrencies after the SEC sought enforcement action.
In early June 2019, for instance, the SEC sued Kik for conducting an illegal $100 million initial coin offering. The Commission sought a permanent injunction, disgorgement plus interest, and a penalty. Following the charges, the price of KIN collapsed nearly 90%.
A similar market reaction occurred to Veritaseum after the SEC filed a complaint against its CEO Reginald Middleton for conducting an unregistered ICO. VERI token plummeted nearly 60% after the enforcement action.
Even though the legality of XRP remains uncertain, it seems to stands out as a potential security under U.S. regulations, according to the Crypto Rating Council. The organization maintains that XRP was initially sold without clear utility and was marketed with “securities-like language.” Within CRC’s assessment, the token has many “characteristics strongly consistent with treatment as a security.”
Many industry leaders believe that the SEC would have taken action by now if it thought XRP was a security. However, fintech lawyer Jake Chervinsky maintains that the regulatory agency’s enforcement “moves slowly under the best of circumstances” and may be on hold until the lawsuit “wraps up.”
Disclosure: This article was edited by Ali Martinez. For more information on how we create and review content, see our Editorial Policy.
Cryptocurrency exchange Binance today made an announcement regarding an altcoin to inform its users. The cryptocurrency mentioned in the announcement is IRISnet (IRIS). Let’s look at the details of the announcement made by Binance.
In the statement made by Binance, it was mentioned that starting from 07:30 Turkey time on May 20, 2024, deposits and withdrawals of the IRISnet (IRIS) tokens will be suspended to support the network upgrade for the best user experience.
The network upgrade is expected to occur at block height 25,006,118 on May 20, 2024, around 08:30 Turkey time.
Informing its users about other details, Binance stated that the trading of tokens on the mentioned network will not be affected.
Binance also emphasized that it will meet all relevant technical requirements for all users. Deposits and withdrawals for the tokens on the mentioned network will be reopened once the upgraded network is considered stable. Additionally, no further announcement will be made.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
UXD Protocol na Solaně ukončuje provoz a DAO hlasuje o uzavření projektu. Pokud návrh projde, vrátí investorům nevyužitý kapitál z vkladů ve výši 7,5 milionu USD a spálí UXP v hodnotě 7,5 milionu USD.
Solana-based UXD Protocol is winding down.UXD DAO is voting to sunset the protocol.The process could take up to two years.Solana-based stablecoin provider UXD Protocol with $7.5 million in user deposits is winding down its operations and will return unused capital to investors, the project announced on Monday.
UXD’s team blamed a lack of liquidity and the inability of its stablecoin model to achieve product-market fit as reasons for sunsetting the project which began in 2021.
“The model does lead to the stablecoin being stable, but [it] is not exciting enough for DeFi users and does not offer enough advantage over centralised stablecoins,” the team said in a DAO forum post on Monday.
“We think sunsetting the project, and returning capital to investors is the best use of capital and team resources.”
The protocol’s shutdown and capital reimbursement process is pending a DAO vote which is already underway and will last for one week.
If the vote passes, the complete shutdown process could take up to two years since there are illiquid assets in its insurance funds, the team said.
Hello! This chart will be available in a few moments
Investor deposits in the UXD ProtocolThe long winddown window gives investors sufficient time to convert those illiquid assets to USDC and withdraw from the protocol.
The team proposed that two smart contract engineers be retained for the duration of the winddown process to ensure investors can redeem their funds.
Monday’s announcement recommended a $200,000 annual salary for both engineers.
As part of the shutdown process, UXD will burn $7.5 million worth of its UXP token.
Stablecoin contenders struggleUXD is one of several projects, alongside Parrot USD and Hubble Protocol, that sought to challenge the dominance of centralised stablecoin issuers like Circle and Tether by offering crypto-backed alternatives.
The Parrot Protocol team rage-quit last year and walked away with $47.5 million, leaving aggrieved investors with only $27 million in the reserve pool to share among themselves.
That meant several investors exited the project with only a fraction of what they put into the protocol.
Hubble Protocol’s USDH stablecoin is only worth $2.7 million, a tiny fraction of the $3.8 billion Solana stablecoin market.
While UXD was never hacked directly, it was one of the projects affected by Avraham Eisenberg’s $110 million exploit of Solana lending protocol Mango Markets in October 2022.
The protocol lost $19.9 million following the exploit but was able to recover the funds shortly after.
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. To share tips or information about stories, please contact him at [email protected].
COOKIE, token ekosystému Cookie3, se v Q2 2024 spustí na ChainGPT Pad a Polkastarter. Projekt má přenášet marketingovou hodnotu na uživatele, kteří pomáhají růstu projektů.
This first MarketingFi utility token will launch within the Cookie3 ecosystem – COOKIE represents digital marketing value passed on to users who drive projects forward instead of on advertising giants like Google or Facebook. Cookie3, a MarketingFi protocol and AI data layer, has just announced that COOKIE – the Cookie DAO-powered token – will launch on ChainGPT Pad and Polkastarter in Q2 2024.
Using the Cookie3 technological stack, COOKIE aims to move $366 billion digital marketing value from advertising giants onto users who bring quality to projects and help them grow.
The project is backed by industry’s top names, including lead investor Spartan Group, GSR, Big Brain Holdings, CMT Digital, Hartmann Capital, Jsquare and Orange DAO, as well as two top launchpads –Polkastarter and ChainGPT – second of which is also the project’s accelerator.
Ilan Rakhmanov, the CEO and founder of ChainGPT, COOKIE launchpad and Cookie3 accelerator, said,
“Cookie3 and its ecosystem token COOKIE are something the market has not seen yet but has needed for long.
“This revolutionary approach, which combines AI, DeFi and marketing with Cookie3’s amazing data processing technology, gives COOKIE an amazing utility within the Web 3.0 and Web 2.0 digital marketing economy.
“We were lucky to find this project and be closely involved in Cookie3’s development. We see Cookie3 use cases across all corners of Web 3.0 and its entire user base – from degens through KOLs and businesses.
“Cookie3 finds ways to unlock marketing value and put it exactly where it needs to be, using COOKIE as a medium.
“We are honored to support Cookie3’s journey and awaiting to see COOKIE in action within the Cookie3 multi-platform ecosystem.”
João Leite, managing partner of Polkastarter and COOKIE launchpad, said,
“We are delighted that COOKIE will launch on Polkastarter. We have been following Cookie3 for the past two years and are excited that COOKIE will find its home and multiple utilities across Cookie3 platforms.
“Today is the day when MarketingFi [becomes] an even stronger term. I look forward to seeing the Cookie3 vision unfold even further with COOKIE as the medium and carrier of MarketingFi value.”
Unlocking $366 billion value with MarketingFi protocol and AI data layer Cookie3 is able to push marketing value into its ecosystem and users with the COOKIE token, thanks to its unique technological stack based on propriety off- and on-chain analytics engine and an AI data layer.
This value exchange is possible due to the unique synergies between the Cookie DAO community with its COOKIE token impacting the Cookie3 multi-plaform ecosystem.
The Cookie3 tech enables understanding of the user journey from off-chain activities to on-chain conversions and further activity.
This way, Cookie3 can determine which users bring value to projects and should be rewarded.
At the same time, having used AI to analyze over 15 unique behavioral characteristics, Cookie3 can distinguish between quality users, bots or Sybil attackers to ensure that rewards go to truly engaged audiences rather than malicious actors trying to take advantage of the Web 3.0 economy.
This technology is prevalent across the Cookie3 three-platform ecosystem, where analytics and AI are integrated to do the following.
Help marketers understand their users better, tailor marketing campaigns and ensure their marketing budgets are passed on to quality users through Cookie3 analytics. Reward creators with airdrops, allocations and tokens for bringing quality audiences to projects through the Cookie3 affiliate. Allow individual users to explore their MarketingFi score based on their off- and on-chain activity. Users can market themselves to projects worth investing in with rewards such as airdrops, exclusive campaigns or tailored offerings through Cookie3 score (the platform is set to launch in Q3 2024). In short, Cookie3 helps businesses find ways to connect with valuable audiences, while at the same time helping users to market themselves as worth rewarding for further ecosystem growth.
Cookie3 technology has already been trusted by top names in the industry, such as Kyber Swap, Mantle, Polkastarter, Linea, GameSwift, Eesee, Insomnia Labs and over 170 more, who integrated into the Cookie3 MarketingFi protocol.
Filip Wielanier, CEO and co-founder of Cookie3, said,
“Our team has been building the Cookie3 technology for over two years, and our current business traction proves that we are the industry’s most advanced user analytics platform.
“We have over 600 million unique wallets and nine billion transactions processed on 16 chains, with over 170 businesses integrated into our proprietary data infrastructure.
“Today marks a historic breakthrough in the Cookie3 history. The solutions we’ve been developing find utility across three different platforms, designed not only for analytics but also for user acquisition and engagement.
“We believe that MarketingFi can and will change the value distribution game. We are excited to contribute to this ecosystem with the Cookie3 multi-platform ecosystem, fueled by the COOKIE token – the future carrier of the MarketingFi value.”
COOKIE utility – one token, many platforms The COOKIE token will find utility in all parts and corners of the Cookie3 ecosystem – Cookie3 analytics, Cookie3 affiliate and Cookie3 score – generating rewards for its holders and stakers.
Moreover, it will grant governance rights within the Cookie DAO with voting rights on matters relating to its treasury, comprising eight-percent of the COOKIE supply.
The Cookie3 core team also shared that COOKIE token holders will often get to decide the future of Cookie3 products, platforms and the token’s role within the ecosystem, alongside benefiting from exclusive access to token-gated features.
The Cookie3 team has also teased a gamified COOKIE airdrop, with more information to be released soon on the Cookie community platform, which will launch on March 28, 2024.
About Cookie3 Cookie3 pioneers MarketingFi with an AI data layer – a transparent marketing economy unlocking value for Web 3.0 users, creators and businesses, with over 170 DApps such as Kyber Swap, Mantle, Polkastarter, Linea, GameSwift, Eesee and Insomnia Labs already using Cookie3 technology.
To realize its mission, Cookie3 is building a set of MarketingFi platforms and Web 3.0 AI marketing solutions that connect projects with the right audiences, creating profitable opportunities for both.
Cookie3 uses off- and on-chain analytics alongside a Web 3.0 AI data layer to ensure only valuable user and project interactions benefit from the MarketingFi ecosystem.
In an economy where lines between business owners, investors and consumers are blurred, effective marketing becomes collaborative, and value flows freely between all stakeholders.
Backed by top institutional investors such as lead investor Spartan Group, GSR, Big Brain Holdings, CMT Digital, Hartmann Capital, Jsquare, Orange DAO, Polkastarter and Chain GPT, Cookie3 fills the gap where Web 2.0 marketing comes short.
Users can learn more at the website.
About Cookie DAO The Cookie DAO is a collective of MarketingFi enthusiasts aiming to bolster decentralization through innovative blockchain solutions.
It created the COOKIE token and injected it into the Cookie3 ecosystem to drive the MarketingFi ethos forward through governance and tokenized support.
Anyone can become a member of the Cookie DAO. The sole requirement is to believe in MarketingFi and want to drive the MarketingFi economy forward.
Cookie DAO members are encouraged to hold and stake COOKIE for access to additional rewards and voting rights on matters relating to the Cookie DAO’s treasury and future.
Users can learn more here.
About ChainGPT ChainGPT is an advanced AI infrastructure dedicated to developing AI-powered technologies for the Web 3.0, blockchain and crypto spaces.
Their mission is to improve the Web 3.0 space for retail users and startups by developing AI-powered solutions.
Users can learn more at the website.
About Polkastarter Polkastarter is the leading early-stage fundraising protocol enabling Web 3.0’s most innovative projects to kickstart their journey and grow their communities.
Polkastarter allows its users to make research-based decisions to participate in high-potential public sales.
Users can learn more at the website.
Contact Krystyna Kozak-Kornacka, chief marketing officer at Cookie3
Binance od 2. ledna 2025 pozastaví vklady TROY přes BNB Smart Chain kvůli možnému bezpečnostnímu problému u kontraktu TROY-BEP20. Vklady a výběry přes Ethereum zůstávají beze změny.
Cryptocurrency exchange Binance announced that it will suspend deposits for the altcoin TROY (BSC) starting January 2, 2025. This decision was made due to a potential security issue related to the TROY-BEP20 token contract. The exchange emphasized that this action was taken to ensure user security.
Binance Ends Support on BSC NetworkBinance stated that it will no longer support TROY coin deposits through the BNB Smart Chain (BSC) network. The company mentioned that it attempted to communicate with the project team to verify the collateral situation concerning coins issued on the BSC network. However, it was emphasized that the project team did not provide adequate explanations regarding the matter.
Binance TROY (BSC) AltcoinThe cryptocurrency exchange specified that it would only resume deposits for TROY once it is deemed secure. Additionally, it was noted that no separate announcement would be made regarding this issue.
Ethereum Network Transactions UnaffectedOn the other hand, Binance announced that users can continue to deposit and withdraw TROY through the Ethereum $1,623 network. The cryptocurrency exchange indicated that these services are not affected by the aforementioned security concerns. Binance also added that it aims to contribute to the transparency and sustainable growth of the cryptocurrency ecosystem while prioritizing user safety.
Such actions in the cryptocurrency market are a continuing concern for users. Measures taken by major exchanges like Binance are significant for the reliability of the sector. Users must closely monitor such announcements and plan their transactions accordingly.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Senátorky Cynthia Lummis a Kirsten Gillibrand představily nový návrh zákona o stablecoinech v USA. Zakazuje algoritmické stablecoiny a vyžaduje 1:1 rezervy.
Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced fresh stablecoin legislation Wednesday, renewing lawmakers’ years-long attempt at enacting a comprehensive framework for the class of crypto assets in the United States.
The 117-page bill includes a raft of definitions pertaining to the sector, outlining rules on the state and federal levels for firms to issue so-called payment stablecoins. The bill also requires that firms conduct any stablecoin activities through subsidiaries. Stablecoins are crypto assets that are pegged to (and backed by) fiat currencies, and maintain a stable price point.
The new requirement differs from how some companies have handled stablecoins in the past. For example, Binance, which is not a bank, once offered its Binance USD (BUSD) stablecoin through Paxos Trust, which is not a subsidiary of the crypto exchange. The companies’ support of BUSD, however, drew to a close after Paxos was warned of a potential enforcement action by the SEC last year.
Different regulations would apply to companies depending on the outstanding value of stablecoins issued. Under the bill, dubbed the Lummis-Gillibrand Payment Stablecoin Act, a $10 billion cap is placed on state regulators’ ability to authorize and supervise non-depository trust companies involved in the stablecoin space.
🚨@gillibrandny and I are introducing the most comprehensive stablecoin bill to date.
Crypto assets are revolutionizing the world and as the undisputed leader in financial innovation, the U.S. must embrace crypto assets, but it cannot be done without clear rules for stablecoins. pic.twitter.com/vwRUEBUdsl
— Senator Cynthia Lummis (@SenLummis) April 17, 2024
“The legislation maintains the dual banking system that is critical to preserving the parity enjoyed by the state and federal financial institutions,” Lummis said on Twitter (aka X) on Wednesday.
Last week, Senate Majority Leader Chuck Schumer (D-NY) met with key legislators from the House Financial Service Committee to discuss stablecoin legislation, per Punchbowl News. During the meeting, lawmakers reportedly discussed folding bipartisan legislation into a bill reauthorizing the Federal Aviation Administration (FAA).
“I think there’s momentum,” Gillibrand said in an interview on CNBC’s "Squawk Box" Wednesday. “As part of the FAA reauthorization, it can be done quite quickly.”
Often referred to as the "Bitcoin Senator," Lummis' advocacy for crypto on Capitol Hill dates back to her election win in 2020. However, Lummis says she bought her first Bitcoin back in 2013, believing in its potential to address issues in today's financial system.
Under the new bill, it would be unlawful for stablecoin issuers in the U.S. to issue algorithmic stablecoins. Instead of using assets to back a stablecoin’s value, algorithmic coins keep their price pegged to the dollar (or other asset) with trading incentives.
Additionally, the bill requires that stablecoin issuers maintain one-to-one reserves for stablecoins. Often, fiat-backed stablecoins are pegged to the dollar through a mix of liquid assets like U.S. Treasuries and cash.
Algorithmic stablecoins caught attention on Capitol Hill following the collapse of TerraUSD in 2022, which shredded more than $40 billion worth of investors’ wealth. In February, U.S. Treasury Secretary Janet Yellen said it should still be a priority for Congress to pass legislation regulating the stablecoin market.
The senators’ bill introduced Wednesday follows the introduction of other crypto-related bills, such as the Lummis-Gillibrand Responsible Financial Innovation Act in 2022.
Outlining boundaries between the regulatory authority of the Securities and Exchange Commission and Commodity Futures Trading Commission, the bill was reintroduced in 2023.
So far, efforts to regulate crypto on Capitol Hill have died on the legislative grapevine. But Lummis is hopeful that the senators’ efforts could bear fruit before election season becomes too strong a force.
“We're going to keep pushing for weeks, rather than months,” Lummis said on "Squawk Box" Wednesday, adding that Congress is quickly approaching a period where “politics takes over policy.”
Edited by Stacy Elliott and Andrew Hayward
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Altura spustila na Morpho trh AVLT/USDT0 a poprvé umožňuje použít AVLT jako kolaterál pro úvěr ve stablecoinech bez opuštění výnosové pozice. Na startu jsou orientační sazby 12,25 % APY pro lending a 14,25 % pro borrowing.
London, United Kingdom, April 29th, 2026, Chainwire
Altura, the institutional yield strategies vault built on HyperEVM and led by an ex-Fidelity and PwC team, today announced the launch of an AVLT / USDT0 lending market on Morpho.
The integration marks the first time AVLT vault shares can be used directly as collateral to borrow stablecoins within a permissionless lending protocol, allowing holders to access USDT0 liquidity without exiting their yield position.
"AVLT was designed to put institutional yield strategies within reach of every investor. This integration with Morpho takes that a step further -- holders can now borrow against their position without sacrificing the yield working underneath it. That is a level of capital efficiency that simply did not exist for this type of asset before,” said Ranveer Arora - Co-Founder & CEO at Altura DeFi.
Indicative rates at launch are approximately 12.25% APY for lending and approximately 14.25% on borrowing.
AVLT as productive collateralThe Morpho integration changes the role AVLT plays in DeFi. Until now, holders generated yield passively by holding vault shares. With this market open, AVLT becomes collateral inside a permissionless lending venue, enabling holders to borrow USDT0 against their position while the underlying vault strategies continue to compound. Capital that was previously locked in yield generation can now be deployed elsewhere without the holder redeeming their Altura position.
Morpho's permissionless architecture supports isolated markets with custom risk parameters, making it particularly suited to structured asset classes like AVLT.
Unlocking Liquidity From Yield Positions Altura is a multi-strategy yield protocol designed to deliver sustainable, blue-chip grade returns through a single unified vault. Users deposit USDC or USDT from HyperEVM, Ethereum, Polygon, Arbitrum, Optimism, and receive AVLT, the protocol's yield-bearing vault share token.
Yield accrues automatically via a rising price-per-share model, meaning holders do not need to claim or manage positions manually.
The protocol allocates capital across a diversified set of non-directional and asset-backed trading strategies, including market making, funding rate and basis arbitrage, staking yield capture, structured liquidity provision and gold RWA strategy.
A distinctive component to Altura is a real-world asset strategy, which generates returns through short-cycle physical gold arbitrage facilitated by its trading partners. A mechanism that was historically used by institutional commodities desks but had been effectively closed to smaller investors due to high capital requirements and counterparty complexity.
The architecture emphasises institutional-grade yield generation with layered security measures. Rather than relying on inflationary token emissions; Altura’s framework relies on real economic activities that are publicly accessible via their dashboard. Through this open transparency, the protocol has completed six independent security audits across Adevar Labs, Omniscia, and Sherlock.
About Altura:
Altura is a multi-strategy DeFi yield protocol built on multiple EVM chains, designed to give users access to institutional-grade trading strategies through a single on-chain vault. Users deposit stablecoins and receive vault shares representing proportional ownership, while the protocol automatically deploys capital across diversified, market-neutral strategies including arbitrage, funding rate capture, market making, and real-world asset trading. Yield is reflected through a price-per-share model, allowing returns to accrue transparently as underlying strategies generate revenue.
The protocol is built around transparency and capital efficiency, with all fund movements, strategy activity, and balances verifiable on-chain. Rather than relying on token emissions or speculative exposure, the company sources yield from real economic activity such as market inefficiencies, liquidity provision, and asset-backed trading, including gold arbitrage. By abstracting execution while maintaining visibility, the team aims to provide a passive, auditable way for users to access diversified yield strategies typically reserved for institutional participants.
About Morpho:
Morpho is a decentralized lending protocol with different entities and individuals contributing to its development and adoption. As a result, the documentation refers to different areas of “Morpho” which are worth distinguishing.
Altura začne řízeně uzavírat vaulty po prudkém nárůstu výběrů; během uplynulých 24 hodin zpracovala více než 8,5 milionu USDT v okamžitých výběrech. Tým uvádí, že chrání kapitál uživatelů a dokončí všechny výběry.
PANews, June 22 — Ranveer Arora, CEO of the on-chain yield platform Altura, posted on X stating that the platform has received an unprecedented number of withdrawal requests over the past 24 hours and has successfully processed over 8.5 million USDT in instant redemptions. Given the sustained withdrawal demand and current market sentiment, the team has decided to begin an orderly wind-down of the Altura vaults, prioritizing the protection of user capital and ensuring all redemptions are completed in a fair, transparent, and efficient manner. The team has notified all counterparties and partners and has begun closing positions in the investment portfolio. Arora stated that some positions can be redeemed immediately, while others require standard settlement and redemption periods, and the team is working with all counterparties to accelerate the process.
One day before this post was published, Altura issued a statement regarding the Mainstreet (MSY) depegging incident, clarifying that it has never had any exposure to Mainstreet or any of its underlying investment strategies, and that its HyperEVM lending vaults, related markets, and Ethereum vaults remain unaffected.
NuNet, a decentralized peer-to-peer network for sharing computing power, has announced the launch of Cardano-based payments.
NuNet made the announcement following a successful demonstration of decentralized compute payments on the Cardano blockchain. The event confirms real-world functionality rather than a conceptual roadmap, signaling readiness for broader adoption.
Key Points NuNet has launched Cardano-based payments for its decentralized peer-to-peer compute network. This support follows the release of Device Management Service (DMS) v0.9.0, which expands contract settlement beyond Ethereum. The system allows seamless switching between Ethereum and Cardano within a single payment flow. While Cardano payments are now live, the network’s native NTX token will continue to drive coordination and orchestration. Adding Cardano support represents a key milestone ahead of NuNet’s mainnet launch, scheduled for early March. NuNet Expands Contract Payments Beyond Ethereum NuNet positioned itself as a multi-blockchain decentralized compute marketplace but relied primarily on Ethereum for settlement, in line with broader Web3 standards. However, earlier this month, the project reached a key milestone with the release of Device Management Service (DMS) v0.9.0.
With this update, NuNet added Cardano support to its payment system, extending settlement beyond Ethereum and strengthening its multi-chain architecture. As a result, users can now deploy compute jobs and pay directly with ADA, while the NTX token continues to drive network coordination and orchestration.
Moreover, the system allows seamless switching between Ethereum and Cardano, delivering a production-ready payment flow from deployment through settlement. Overall, this upgrade builds on earlier infrastructure improvements and positions NuNet for its live phase with full multi-blockchain support.
NuNet Gears Up for Mainnet Launch According to NuNet, activating Cardano payments represents a pivotal step toward its mainnet launch. The mainnet infrastructure is scheduled to go live on March 2, 2026, marking the transition from testing to a fully operational decentralized compute economy.
In a statement, the NuNet team emphasized that its infrastructure is now ready for global adoption. Following the deployment of Cardano-based payments, the project stated that it has showcased its ability to deliver seamless payments, multi-blockchain support, and real-world utility.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Jito Labs v červenci spustí JTX, spotovou obchodní aplikaci pro spotřebitele na Solaně. Později chce přidat perpetual kontrakty a funkce prediction market.
On May 5, Jito Labs—the Solana ecosystem’s staking protocol—announced plans to launch JTX, a consumer-focused crypto trading app, in July this year. This marks its official shift from the infrastructure layer to front-end transaction services. Early versions of JTX will support Solana-based spot trading, with plans to later integrate perpetual contracts and prediction market functionality. Access to the perpetual products may be facilitated via Phoenix, a trading platform within the Solana ecosystem. Founded in 2021, Jito currently has approximately 39 employees and holds over $1 billion in cash. The company delivered strong performance in 2025, once generating nearly $6 million in revenue in a single week amid popular on-chain transactions on Solana (such as the meme coin craze). Last year, it secured a $50 million investment from Andreessen Horowitz’s crypto fund. Jito CEO Lucas Bruder stated the firm is no longer content with merely providing underlying infrastructure. Instead, it aims to directly reach users through in-house developed apps to enhance the on-chain transaction experience.
Relevant content
Vice President of Strive: Strategy's STRC Has Essential Differences from the Luna/UST Model
Strive Vice President Joe Burnett wrote in an article that prior to the TerraUSD collapse, roughly $18.7 billion in UST was in circulation, backed by just $3.1 billion in Bitcoin reserves, and UST allowed immediate redemptions. Currently, Strategy holds around $51.5 billion in Bitcoin, corresponding to a circulating STRC supply of approximately $10.5 billion, while STRC is not an immediately redeemable asset. He stressed that the two differ significantly in collateral structure, asset coverage ratio, and redemption mechanism, noting "they are clearly completely different models."
13 minutes ago
trade.xyz launches contract trading for Japanese storage stock Kioxia (KOXIA)
According to official announcements, trade.xyz has launched contract trading for Japanese storage stock Kioxia (KOXIA), supporting up to 10x leverage. The Kioxia (KIOXIA) product tracks the value of each common share of Kioxia Holdings Corporation, listed on the Tokyo Stock Exchange (stock code: 285A). Its price conversion mechanism converts the underlying Japanese stock price from yen to U.S. dollars based on the current USD/JPY exchange rate. Kioxia manufactures NAND flash memory and solid-state drives (SSDs) for use in data centers, consumer electronics, mobile devices, and enterprise storage.
13 minutes ago
Japanese storage chip manufacturer Kioxia's share price rose more than 12%
According to Bitget market data, the share price of Japanese storage chip manufacturer Kioxia Holdings (铠侠) surged by 12%.
13 minutes ago
Coinbase secures Luxembourg’s MiCA license, to base its EU operations in Luxembourg.
According to an official announcement, Luxembourg has officially become Coinbase’s registered MiCA Home under the EU’s Markets in Crypto-Assets (MiCA) framework. Moving forward, Coinbase will use Luxembourg as its EU business hub to provide compliant crypto asset services for users across EU member states.
13 minutes ago
The KyberSwap attacker has transferred another 2000 ETH to Tornado Cash, with over 80% of the stolen funds now laundered.
According to PeckShield’s monitoring, an address identified as the KyberSwap attacker has once again transferred 2,000 ETH to Tornado Cash. Over the past two years, this attacker has cumulatively transferred and mixed 16,100 ETH via Tornado Cash, equivalent to roughly $40 million at current prices, accounting for over 80% of the $48.8 million lost in the KyberSwap attack in November 2023. Some of the stolen funds have not yet been fully transferred.
13 minutes ago
James Wynn closed out his 40x Bitcoin short position, netting $30,000 in profits, and shifted to opening a 50x S&P 500 short position.
According to monitoring by OnchainLens, James Wynn has liquidated his 40x leveraged Bitcoin (BTC) short position, pocketing roughly $30,000 in profit. He subsequently opened a new 50x leveraged S&P 500 (SP500) short position at a price of 334.42, betting on a future decline in the US stock market.
Phoenix Trade na Solaně spouští mobilní obchodování přes prohlížeč telefonu nebo vestavěný prohlížeč peněženky, bez nutnosti instalace aplikace. Nabízí stejný orderbook jako na desktopu včetně limitních příkazů a on-chain vypořádání.
Phoenix Trade, the on-chain perpetuals exchange built on Solana, has opened up mobile access for its trading platform. Users can now trade directly through their phone’s browser or wallet-embedded browser without downloading a separate app.
What Phoenix is actually offering on mobile The mobile version isn’t a stripped-down companion app. Phoenix is pushing the same orderbook experience to mobile that desktop users already have, including limit orders, on-chain settlement, and instant fund withdrawals after trades complete.
Phoenix processes trades with an average settlement time of roughly 0.5 seconds. Users can access the platform by navigating to phoenix.trade on their mobile browser or through their wallet’s built-in browser. The platform also supports referral codes for fee sharing and builder codes that let developers route order flow through Phoenix.
Advertisement
The numbers behind the timing Phoenix didn’t launch mobile into a vacuum. The platform recorded an all-time high daily trading volume of $4.3 million on May 13, 2026, less than three weeks before the mobile launch.
Phoenix runs a fully on-chain orderbook, which means every order, every fill, every cancellation lives on Solana’s ledger. Most competing perpetuals platforms rely on oracle-based pricing or off-chain matching engines to hit their volume numbers. Oracle-based perp platforms essentially take a price feed from somewhere else and let traders bet against it. A fully on-chain orderbook means real buyers and sellers are matching directly, with the blockchain serving as both the matching engine and the settlement layer.
From spot DEX to perpetuals platform Phoenix originally launched on Solana’s mainnet in 2023 as a spot limit-orderbook DEX, built by a team called Ellipsis Labs. The expansion into perpetual futures was the natural next step. Building a perp product on top of an existing orderbook infrastructure gave Phoenix a structural advantage over teams starting from scratch.
The mobile launch fits into a broader pattern within the Solana ecosystem that has been leaning heavily into mobile-first crypto experiences. Solana Mobile’s hardware efforts, including dedicated Android devices optimized for crypto, have created a small but growing cohort of users who expect to do everything from their phones.
What this means for traders and the Solana ecosystem Phoenix’s approach of using the mobile browser rather than a native app sidesteps app store friction for both users who don’t want another app and developers who have to navigate Apple and Google’s policies toward crypto applications.
The risk, as always with on-chain orderbooks, is liquidity. A $4.3 million daily volume high is encouraging but still thin enough that large orders could move markets in ways that deter institutional or semi-professional traders.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bithumb a Upbit zařadily Grostlcoin (GRS) mezi projekty s upozorněním na obchodování a současně pozastavily vklady. DAXA uvedla, že tým projektu nezveřejnil dostatek klíčových informací a existují nesoulady, které mohou ohrozit investory.
**December 2 Update** South Korean crypto exchanges Bithumb and Upbit announced the same day they will list Grostlcoin (GRS) as a "Trade Caution" project and suspend deposits simultaneously. DAXA, the self-regulatory body for Korean exchanges, noted in its review that the GRS project team failed to disclose sufficient key information impacting the token’s value. The project’s actual progress also showed multiple non-compliant issues, posing a potential risk of harm to investors.
Relevant content
Vice President of Strive: Strategy's STRC Has Essential Differences from the Luna/UST Model
Strive Vice President Joe Burnett wrote in an article that prior to the TerraUSD collapse, roughly $18.7 billion in UST was in circulation, backed by just $3.1 billion in Bitcoin reserves, and UST allowed immediate redemptions. Currently, Strategy holds around $51.5 billion in Bitcoin, corresponding to a circulating STRC supply of approximately $10.5 billion, while STRC is not an immediately redeemable asset. He stressed that the two differ significantly in collateral structure, asset coverage ratio, and redemption mechanism, noting "they are clearly completely different models."
12 minutes ago
trade.xyz launches contract trading for Japanese storage stock Kioxia (KOXIA)
According to official announcements, trade.xyz has launched contract trading for Japanese storage stock Kioxia (KOXIA), supporting up to 10x leverage. The Kioxia (KIOXIA) product tracks the value of each common share of Kioxia Holdings Corporation, listed on the Tokyo Stock Exchange (stock code: 285A). Its price conversion mechanism converts the underlying Japanese stock price from yen to U.S. dollars based on the current USD/JPY exchange rate. Kioxia manufactures NAND flash memory and solid-state drives (SSDs) for use in data centers, consumer electronics, mobile devices, and enterprise storage.
12 minutes ago
Japanese storage chip manufacturer Kioxia's share price rose more than 12%
According to Bitget market data, the share price of Japanese storage chip manufacturer Kioxia Holdings (铠侠) surged by 12%.
12 minutes ago
Coinbase secures Luxembourg’s MiCA license, to base its EU operations in Luxembourg.
According to an official announcement, Luxembourg has officially become Coinbase’s registered MiCA Home under the EU’s Markets in Crypto-Assets (MiCA) framework. Moving forward, Coinbase will use Luxembourg as its EU business hub to provide compliant crypto asset services for users across EU member states.
12 minutes ago
The KyberSwap attacker has transferred another 2000 ETH to Tornado Cash, with over 80% of the stolen funds now laundered.
According to PeckShield’s monitoring, an address identified as the KyberSwap attacker has once again transferred 2,000 ETH to Tornado Cash. Over the past two years, this attacker has cumulatively transferred and mixed 16,100 ETH via Tornado Cash, equivalent to roughly $40 million at current prices, accounting for over 80% of the $48.8 million lost in the KyberSwap attack in November 2023. Some of the stolen funds have not yet been fully transferred.
12 minutes ago
James Wynn closed out his 40x Bitcoin short position, netting $30,000 in profits, and shifted to opening a 50x S&P 500 short position.
According to monitoring by OnchainLens, James Wynn has liquidated his 40x leveraged Bitcoin (BTC) short position, pocketing roughly $30,000 in profit. He subsequently opened a new 50x leveraged S&P 500 (SP500) short position at a price of 334.42, betting on a future decline in the US stock market.
MXC vyskočil až o 247 % po obnovení těžebního programu Moonchain a sérii aktualizací ekosystému. Denní objem obchodů vzrostl o více než 500 % na téměř 22,5 milionu USD.
MXC, the native token of the Layer 3 blockchain platform Moonchain, surged as much as 247% recently, thanks to the reactivation of its mining program and a wave of ecosystem updates.
According to Coingecko data, Moonchain (MXC) reached an intraday high of $0.00525 on the morning of May 29, Asian time, pushing its market cap past $11.6 million. When writing, the token was up 675% from its lowest point this year, marking one of its strongest moves in 2025 so far.
MXC crypto also recorded a sharp uptick in trading activity, with daily volume spiking over 500% compared to the previous day, reaching nearly $22.5 million, signalling a flood of new interest and momentum.
What’s behind the rally? There are three main catalysts driving MXC’s breakout:
First, the Moonchain team officially reactivated MXC mining on its network using MatchX’s M2 Pro and NEO miners, following a temporary outage on May 21. This reactivation also came after a community poll conducted by MatchX on X on May 19, where 97.9% of participants voted in favor of resuming MXC mining.
For context, MatchX is a German tech company that builds low-energy mining hardware specifically for the Moonchain ecosystem. Their devices help power Moonchain’s data infrastructure and allow users to earn MXC by participating in its Proof of Participation (PoP) system.
Second, Moonchain teased the upcoming launch of its Initial Hardware Offering (IHO). This campaign will send out free physical mining devices, possibly wearables like smartwatches or rings, to Moonchain token holders using an Ethereum smart contract.
According to the project’s Q2 2025 roadmap, the IHO will also include “health-based” mining devices and limited-edition high-hash-rate models to reward users who lock up their tokens early. Distribution hubs are also being set up in key regions to ensure faster deliveries.
Third, Moonchain recently completed an integration with OKX Wallet, a leading multi-chain wallet in the Web3 space. The integration allows users to easily access Moonchain’s dApps, staking features, and token tools across mobile, browser, and Telegram.
With OKX Wallet’s support for over 1,000 protocols, the move better positions both existing and new users to engage with the ecosystem.
What Is Moonchain? For those unfamiliar, Moonchain is a Layer 3 blockchain platform that combines AI, IoT, and DePIN (Decentralized Physical Infrastructure Networks). Its native token, MXC, powers transactions within the network, supports an inter-chain NFT marketplace, and rewards participants via its energy-efficient Proof of Participation model.
The project also features MXProtocol and is building on Ethereum’s Layer 2 tech, including its own zkEVM, to improve compatibility with existing Ethereum-based apps. This positions Moonchain as a solid pick for developers working on real-world use cases, especially in smart devices and data-sharing networks.
MXC price outlook On the technical side, MXC has broken out of a multi-month descending channel, which often signals the start of a potential new uptrend. It also held above the key 61.8% Fibonacci retracement level at $0.0048 before cooling off to around $0.0041 at press time.
MXC price, MACD and RSI chart — May 29 | Source: crypto.news Momentum indicators support the bullish case. The MACD lines are crossing upward, and the Relative Strength Index is in the overbought zone, often a sign of sustained buying pressure and strong buyer conviction in an emerging uptrend.
However, overbought conditions can also bring short-term selling pressure if traders begin to lock in profits.
If MXC continues upward, the next likely target is around $0.0061, a key level it failed to reach in its earlier push. But if it drops below the $0.0030 support, it could slide further down toward the $0.00060 range, which is currently acting as a psychological support zone.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Stacks aktivoval Nakamoto Upgrade, který přináší finalitu Bitcoinu do sítě a zkracuje vypořádání na zhruba pět sekund. STX při tom klesl o 8,5 % na 1,59 USD.
The Stacks (STX) protocol has initiated the Nakamoto Upgrade, which introduces Bitcoin (BTC) finality to its network. Over the next 21 days, the ecosystem is set to experience a range of activities linked to this significant upgrade.
Stacks is one of the largest Bitcoin Layer-2 (L2) networks by market capitalization. Earlier this year, the STX community approved the Nakamoto upgrade, aiming to make the network faster and enhance block times.
Bitcoin L2 Stacks Initiates Nakamoto UpgradeThe Nakamoto Upgrade marks a new era of scalability for decentralized finance (DeFi) within the Bitcoin ecosystem and is one of the most significant changes to the Stacks network. Activated on Wednesday, this upgrade enhances transaction speeds and reduces settlement times.
Bitcoin’s standard settlement times previously ranged from 10 to 30 minutes or more. The Nakamoto Upgrade has slashed this to around five seconds—a 10X improvement that significantly boosts the Stacks network’s usability.
The upgrade received strong community support earlier this year and sets the stage for several key developments in the Stacks ecosystem. One of the major upcoming events is the introduction of sBTC, a decentralized asset backed 1:1 by Bitcoin.
Stacks is specifically designed to enable smart contracts and dApps to use Bitcoin as a secure base layer. By extending Bitcoin’s capabilities without altering it, Stacks unlocks billions in latent capital, allowing for a more dynamic and functional ecosystem.
Read more: A Beginner’s Guide to Layer-2 Scaling Solutions
The Nakamoto Upgrade comes as projects built atop the Stacks blockchain endured less-than-desirable speeds. These slow transaction times negatively impacted the user experience, making it challenging to support high-volume use cases and limiting developers from delivering complex DeFi products.
Despite the positive changes brought by the upgrade, which began on Wednesday, the total value locked (TVL) on the Stacks network has decreased by over $7 million, dropping from $98.10 million to $90.62 million. This decline in TVL suggests that the upgrade’s immediate impact on market confidence was mixed, even as the network undergoes notable improvements.
Stacks TVL. Source: DefiLlamaBeInCrypto data shows STX, the native token of the Stacks network, is trading for $1.59 at press time, down 8.5% since Thursday session openned.
Bitcoin L2s Could Initiate New WaveBitcoin L2 solutions are progressively gaining popularity, and have attracted significant investment. As BeInCrypto previously reported, VC funding towards Bitcoin L2s continues to grow, collectively raising an impressive $94.6 million in the second quarter of 2024.
This represents a substantial 174% increase quarter-over-quarter. Experts also revealed that at least 65 projects identified themselves as Bitcoin Layer-2.
“The crypto industry is catching on to the fact that much of what is done on alternative blockchains can be built on top of Bitcoin. Fortune 500 companies like MicroStrategy are tailoring their entire business towards Bitcoin’s Layer-2. Layer-2 faces no more regulations than other crypto platforms. The only challenges are technical, and the brightest minds are being pulled towards Bitcoin along with nation-states, etc,” Manuel Ferrari, Money On Chain Co-Founder, told BeInCrypto.
Read more: Beginner’s Tutorial to Start Using the Lightning Network
There is also speculation that L2s could spark a new bullish wave for Bitcoin, especially as the focus on scaling increases. This rising demand might lead to capital rotation, with overflow potentially moving into Layer-2 tokens like STX, Elastos (ELA), SatoshiVM (SVM), and BVM (BVM).
Elastos spustil BPoS NFT pro staking ELA, která mění stakované ELA a odměny na obchodovatelná NFT bez přerušení výnosů. Uživatelé mohou získat 2–3 % APR a NFT kdykoli spálit pro vyplacení odměn.
[PRESS RELEASE – Singapore, Asia, October 23rd, 2024]
Users can convert staked ELA and rewards into tradable NFTs, burn them anytime for Bitcoin-secured ELA APY rewards, and claim the staked ELA when the lock period ends. Anyone can stake ELA with a validator and earn 2–3% APR, with higher rewards for longer lock periods. Elastos continues to build momentum for a new decentralized finance model, offering flexible liquidity, Bitcoin-backed security, and simple wallet access. Elastos, a SmartWeb ecosystem provider, has expanded incentives for crypto users and validators with the launch of Bonded Proof of Stake (BPoS) NFTs. This new system offers users liquidity for staked assets by converting ELA and accumulated rewards into tradable NFT receipts, without interrupting rewards or waiting for the lock period to end. Through the Essentials Wallet, users can stake Bitcoin-secured ELA with a validator to earn 2–3% APR, with higher rewards for longer lock periods.
Today’s announcement underscores Elastos’ commitment to delivering value across the Smart Web ecosystem. Users can easily stake ELA tokens with BPoS validators on the Elastos Mainchain using the Essentials Wallet and issue BPoS NFTs. These NFTs can be freely traded or transferred on the Elastos Smart Chain (ESC), offering liquidity without affecting the staking period. Market participants can acquire NFTs to gain access to Mainchain rewards and the underlying staked asset. While the staked ELA remains locked until the staking period ends, NFT holders can burn their NFTs anytime to claim accumulated APY rewards.
“We are committed to delivering technologies that will create long-term value for our users and the ecosystem,” said Jonathan Hargreaves, Head of Global Growth at Elastos. “We are now in a position to deliver the tools and architecture that enable users to trade Bitcoin-backed value through ELA on Elastos without unstaking the underlying asset. This unlocks new market opportunities and sets the stage for BPoS NFTs to be used as collateral in BeL2’s upcoming Arbiter network. Ultimately, we aim to build a new model for decentralized finance backed by Bitcoin security, and we are entering a phase where users will increasingly benefit from these innovations.”
Backed by Bitcoin Security These NFTs represent receipts to claim ELA assets secured by Bitcoin’s hash power through Auxiliary Proof of Work (AuxPoW) and validators via the BPoS mechanism on the Elastos Mainchain. With 293.69 EH/s of Bitcoin’s total 580.74 EH/s hash rate, nearly half of Bitcoin’s security reinforces Elastos’ ELA, anchoring it in Bitcoin’s infrastructure without additional energy use and introducing new utility through mintable and burnable NFTs.
“With ELA’s fixed supply cap of 28.22 million, Bitcoin miner-shared security, and a 4-year halving cycle, ELA embodies Satoshi’s merge-mining BitDNS and Generalizing Bitcoin vision laid out on the Bitcoin forum in 2010,” added Sasha Mitchell, Head of BeL2. “Our roadmap continues to progress with the upcoming BeL2 arbiter network, which will support Native Bitcoin DeFi, allowing nodes to collateralize BPoS NFTs and unlock multiple revenue opportunities beyond ELA APY by supporting BTC-based services.”
Launching the BeL2 Arbiter Network Elastos plans to launch the BeL2 arbiter network by the end of 2024. This network will allow BPoS NFTs to be used as collateral for supporting time-based transactions such as loans and stablecoin pegs, including dispute resolution services. Arbiter nodes using these NFTs will earn Bitcoin and ELA rewards without moving Bitcoin from the mainnet. This approach combines security, liquidity, and financial innovation, positioning Elastos as a key player in the evolution of blockchain-based finance.
About Elastos Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to create a modern internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. Its mission is to build accessible, open-source services that empower developers to create an internet where individuals own and control their data.
The Elastos SmartWeb platform allows organizations to recalibrate how the internet functions to better manage their data and privacy.
Elastos získal strategickou investici ve výši 20 milionů USD od Rollman Management. Peníze podpoří rozvoj Bitcoin DeFi protokolu BeL2, ELA a Web3 datové ekonomiky.
Majuro, Marshall Islands, January 30th, 2025, Chainwire
Funding accelerates the development of Elastos’ ELA token, Native Bitcoin DeFi protocol, and Web3 data economy – positioning Elastos as the utility layer for Bitcoin.
Elastos, a decentralized web infrastructure pioneer, today announced a $20 million strategic investment from Rollman Management to scale its Bitcoin-aligned ecosystem. Rollman Management, recognized for its high-profile investments in blockchain projects like Ripple, Ethereum, Solana, and Planck, now ranks Elastos among its top five holdings. The partnership will fuel the launch of Elastos’ Native Bitcoin DeFi protocol, BeL2, expand its merge-mined ELA token as a Bitcoin reserve asset, and accelerate Elacity—a Web3 data marketplace that enables creators to monetize content without intermediaries on top.
With Bitcoin’s market cap surpassing $2 trillion, Elastos solves critical gaps in Bitcoin’s ecosystem:
ELA as Bitcoin’s Merge-Mined Reserve Asset: ELA tokens have been secured by Bitcoin’s hash power through merge-mining since 2018, aligning with Satoshi Nakamoto’s 2010 vision for decentralized networks. With a total of 28,220,000 by 2105 and around 50% of Bitcoin’s hashrate, ELA gains security and decentralization, provides additional revenue for BTC miners at no extra cost, and creates a crypto economically sound reserve asset for Elastos’ Bitcoin-native DeFi system. BeL2: Bitcoin’s DeFi Breakthrough: Launching in Q2 2024, BeL2 allows Bitcoin holders to collateralize BTC in personal wallets and access Ethereum smart contract services. These include minting stablecoins, performing swaps, and borrowing assets peer-to-peer, unlocking its value all whilst eliminating reliance on synthetic BTC (e.g., WBTC) and centralized custodians. BeL2 combines locking scripts, zero-knowledge proofs, oracles, and an arbiter network where ELA stakeholders can stake ELA and earn BTC fees as decentralized nodes to support the protocol. Elacity: Web3’s Creator Revolution: Already proven in early tests, where one creator earned $5,600 in 24 hours through tokenized podcast access, Elacity v2 will launch in April with channels and subscription models. It enables influencers to encrypt, tokenize, and sell content/royalties on Elastos for audio and video markets, with plans to extend its technology to support the tokenization of AI markets. “Leveraging Bitcoin’s trillion-dollar consensus to empower Web3 users with scalable utilities—that’s where Elastos comes in,” said Rong Chen, Elastos Founder. “Merge-mining ties ELA’s security to Bitcoin’s, and BeL2, Elastos’ decentralized finance protocol, unlocks BTC-backed DeFi without compromises, whilst Elacity creates a decentralized digital goods economy on top. Rollman’s investment supports our role as Bitcoin’s utility layer”.
The $20M investment from Rollman will drive the advancement of Elastos technologies and also help Elastos reorient its branding, mature its technological stance, and go to market. This includes enhancing marketing efforts, which will further position Elastos as a leader in the growing Bitcoin-native DeFi space.
Elastos as a Pioneer in Bitcoin-secured Governance
Beyond its technological advancements, Elastos stands out for its Cyber Republic Consensus (CRC) governance model, formalized as a DAO LLC in the Marshall Islands, which signed this agreement with Rollman. This delegate-based system allows community members to stake Bitcoin merge-mined ELA, earn APY, and annually elect—or run as—one of 12 council members who vote on proposals, drive innovation, sign contracts, and validate Elastos’ Smart (EVM) and Identity (DID) sidechains. This ensures governance decisions reflect the community’s interests and demonstrates Elastos’ commitment to a truly decentralized and transparent ecosystem rooted in Bitcoin.
As Elastos enters its next phase of growth, participants can join the ecosystems CRC DAO by acquiring merge-mined ELA, which has a market cap of $48,542,586 and is secured by nearly 50% of Bitcoin’s hashrate (366.01 EH/s, equivalent to 244.008 Frontier Supercomputers). ELA offers 6+ years of proven security, a fixed cap of 28.22M tokens to be fully mined by 2105, and 3.29% emissions via its Essentials Wallet, ensuring scarcity and predictability for holders. Available on Centralized Exchanges (Coinbase, KuCoin, Gate.io, Huobi, Bitget, Crypto.com) and Decentralized Exchanges (Uniswap, Chainge Finance, Glide Finance), ELA empowers holders to shape Elastos’ future through CRC governance—driving innovation, reinforcing Bitcoin-level security, and building the next generation of decentralized applications.
Additional Information
ELA Merge Mining BeL2 Elacity Cyber Republic Consensus (CRC) Users can contact [email protected] for partnership inquiries or media requests. About Elastos
Elastos is a SmartWeb ecosystem builder focused on enabling decentralized application creation and cross-chain connectivity. Built on top of Bitcoin merge-mining, Elastos relies on the security of the world’s largest public blockchain and extends it with additional layers. The introduction of BeL2 and its Arbiter Network marks Elastos’ latest effort to advance a more open, clear, and trustless global financial system.
Website: Elastos.info
X/Twitter: @ElastosInfo
About Rollman Management Digital
Rollman Management Digital is a private investment and management consulting boutique that is incorporated in the British Virgin Islands. The firm seeks to invest in talented teams and their blockchain protocols to further develop their technology and business while adding significant value to the future of the modern economy.
RMD is led by Victor R. Ch. Rollman, the founder of Rollman Capital, Rollman Mining, and Rollman Management. The Group offers a wide range of investment opportunities, financial services, and management consultancy to UHNWIs, entrepreneurs, developing governments, commodity trading firms, banks, family offices, and pension funds.
Coinbase přidala Stader (SD) na svůj roadmap, což je důležitý krok pro token projektu Stader Labs. SD zároveň za 24 hodin vyskočil o 88 % na 0,7539 USD.
Coinbase Global Inc. adds Stader (SD) to its roadmap, a significant milestone that underscores the maturity of the Stader Labs’ governance token.
Crypto exchange Coinbase today confirms the addition of the Stader (SD) digital currency to its roadmap through the official X page. By formally adding SD, Coinbase recognizes the pivotal input the ERC-20 token has towards Ethereum (ETH) decentralization and Stader protocol.
Assets added to the roadmap today: Stader (SD)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) July 10, 2024
Coinbase Vote of Confidence on SD The bullish update coincides with the surge in SD price, lifting the liquid staking governance token among the largest digital asset gainers. Bulls are in control as SD rallies 88% in 24 hours to exchange hands at $0.7539. At press time, CoinGecko data shows the same uptrend applies to its market capitalization, now worth $33.26 million from a circulating supply of 41 million.
As America’s largest crypto exchange, Coinbase conforms to a strict listing policy for all digital currencies. The exchange reiterates that listing tokens on its roadmap hinges on the initiative’s technical, legal, and compliance standards.
SD debut on the Coinbase roadmap and for possible future listing affirms the Stader governance token maturity in its bid to further ETH decentralization within the SD Utility Pool. However, Coinbase cautions that the addition of a token to its roadmap does not guarantee future listing.
SD Rejuvenation Path The SD token taps the roadmap update with its trading volume 186.30% up in the past 24 hours to $5,976,529, signaling an accelerated rise in market activity. SD’s emergence traces to the onset of 2022, with the token setting an all-time high (ATH) of $30.17 in March. However, SD lost the appeal as its value plunged to a low of $0.2368 in October.
Market data confirms the Stader struggles with five days of flat price action trailing today’s bullish jump. Despite SD price comparatively 97.28% below its ATH, today’s rally positions it on a rejuvenation path of 18.8% gain in the past 30 days.
CoinGecko indicates that SD’s 28.60% price increase in the past seven days outperforms the global crypto market, down 2.60%. Consequently, the Coinbase roadmap update is a potential shift in SD’s accessibility to investors served by the US exchange and a potential catalyst for further price action.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Stader price climbed sharply after its listing on Bithumb’s Korean Won market, posting a surge of more than 40% in a single day.
Summary
Stader rose 42% on Aug. 26 following its listing on Bithumb’s Korean Won market. Governance updates, including July’s revenue buyback plan, continue to support token fundamentals. Technical signals point to a breakout, with potential targets at $1.12 and $1.40. At the time of writing, Stader (SD) was trading around $0.91, nearly 39% higher over the past 24 hours. The token’s rally has also lifted its seven-day performance by 26%, with momentum stretching beyond the past month.
Bithumb listing drives demand The announcement by Bithumb on Aug. 26 confirmed that SD would now be available in the KRW market through the Ethereum (ETH) network. The development instantly triggered the token’s price surge, briefly rising above $1.12 before declining slightly.
Additionally, trading volumes increased significantly, rising by more than 300% from to $25.5 million over the last day. With the listing, Korean traders will have direct access to SD via a major fiat exchange, bringing with it a new level of market visibility and liquidity.
Expanding ecosystem supports price action The surge’s timing aligns with the Stader ecosystem’s continued expansion. The group introduced Cabbage earlier this year, an AI-driven trading platform that makes trading memecoins easier with features like Crowd Pulse and Whale Watch.
According to Stader’s projections, even a small portion of monthly memecoin activity could generate substantial yearly revenue. Updates to governance have also added more utility to the token.
An recent vote by the DAO allocated 20% of protocol revenue toward buybacks of SD, which could be burned, redistributed to stakers, or used to reward traders. These developments have helped strengthen confidence in the project, providing a foundation for speculative interest even before the Bithumb listing.
Stader technical analysis On the daily chart, price action is currently moving along the upper Bollinger Band in the $0.90 to $1.00 range after SD broke out of its consolidation range around $0.60. The volume increase confirms that there is strong support for this breakout.
Stader daily chart. Credit: crypto.news There may still be space for the rally before overbought levels are reached, according to the relative strength index, which is currently at 64.
If the token sustains support at $0.74, attention may return to $1.12, the level that capped gains earlier in the session. A clear move above that level could pave the way for a move toward $1.40, a resistance level that was tested earlier this year.
However, if recent support is broken, there is a chance that the price will drop back to $0.60, where the previous base of accumulation was formed.
Crypto exchange Binance has announced it will no longer support four altcoins — BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastar (POLS). Effective July 22 at 03:00 UTC, it will delist these altcoins, causing a sharp drop in their market value.
This price action reflects market sensitivity to exchange delistings and regulatory actions.
Altcoins Nosedive Following Binance Delisting AnnouncementImmediately following the announcement, the affected tokens saw significant price declines. Specifically, DOCK plummeted nearly 30%, MDX dropped by 23.65%, and BOND and POLS both experienced over 17% losses.
The delistings are part of Binance’s periodic review. Often, it adds the tokens under the monitoring tag before delisting them. For instance, on July 1, Binance included 11 altcoins under its monitoring tag, including DOCK and POLS.
“At Binance, we periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements,” Binance explained.
Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?
BOND, DOCK, MDX, and POLS Price Performance. Source: TradingViewThe review focuses on several critical factors, such as the project team’s commitment, trading volume, liquidity, network security, and responsiveness to due diligence inquiries.
Trading pairs like BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT will see a trading halt, and all existing trade orders will be automatically removed after delisting. Users must withdraw these tokens by October 22, 2024. If not, Binance might convert the delisted tokens into stablecoins, although this is not guaranteed and will be subject to a future notification.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
Furthermore, Binance is making adjustments across various services to phase out these altcoins comprehensively. These changes include delisting from Binance Simple Earn and Auto-Invest, ending margin trading for these tokens, and removing them from Binance Convert and Binance Pay by predetermined dates.
DIA spustila DIA Value, on-chain oracle pro spravedlivé oceňování aktiv bez tržní ceny, jako jsou tokenizované státní dluhopisy, fondové NAV tokeny a výnosové tokeny. Už je integrována u Euler, Morpho, Silo a Hydration.
Introducing DIA Value: Intrinsic Valuation Oracle for Institutional DeFiWhen markets don’t exist, market oracles fail. DIA launches fully onchain fair-value pricing for assets from tokenized treasuries to yield-bearing tokens.
In 2020, decentralized finance experienced its Cambrian explosion. Uniswap enabled permissionless trading. Aave enabled permissionless lending. Within three years, DeFi grew to $100 billion in total value locked, all built on a core pricing assumption: assets trade continuously on liquid markets.
Then in 2024, Wall Street arrived.
BlackRock tokenized U.S. treasuries, crossing $500 million in the BUIDL fund within months.[1] Firms like Ondo Finance brought tokenized treasuries to Ethereum. By early 2025, over $50 billion in institutional capital had migrated onchain,[2] with projections from McKinsey, BCG, and others estimating the tokenized asset market could reach $2–16 trillion by 2030.[3]
But these assets share a characteristic: they don’t trade.
Tokenized treasuries don’t have order books. Fund NAV tokens don’t establish price through supply and demand. Yield-bearing tokens have redemption mechanisms encoded in smart contracts — their value isn’t what traders think, it’s what the protocol guarantees you can redeem.
And DeFi’s pricing infrastructure wasn’t designed to handle them.
The oracle space converged on a single architecture: market observation. Aggregate prices across exchanges, decentralize the aggregation through node networks, publish the result onchain. For Bitcoin, Ethereum, and liquid tokens, this works well.
But you cannot aggregate exchange prices when markets don’t exist. You cannot decentralize market data when liquidity is thin or fragmented. And you cannot discover price through trading when trading doesn’t happen.
The infrastructure that unlocked DeFi’s first $100 billion fundamentally cannot price its next trillion.
Market-based oracles solved a real problem: bringing external price data onchain. For assets that trade continuously with deep liquidity, the approach is sound. Implementations vary in how they source data, what transparency they offer, and how they handle edge cases, but the core model works when its assumptions hold.
Those assumptions are: continuous trading activity, deep enough liquidity to resist manipulation, and price discovery through supply and demand. For the new institutional asset classes entering DeFi, they collapse:
Asset Type Continuous Trading? Deep Liquidity? Market Price Discovery? Tokenized T-Bills ❌ ❌ ❌ Fund NAV Tokens ❌ ❌ ❌ Yield-Bearing Derivatives ⚠️ Sporadic ❌ ❌ Synthetic Stablecoins ⚠️ Sporadic ❌ ❌ Cross-Chain LP Tokens ❌ ❌ ❌ When these conditions are absent, market-based oracles face three choices, none of them good:
Aggregate thin, manipulable market data. If a tokenized asset has minimal secondary trading, aggregating those sparse data points creates vulnerability. Thin order books can be manipulated. Single-venue distortions propagate as truth. Stale prices from infrequent trades become risk management inputs.
This isn’t theoretical. On October 10, 2025, $19 billion in leveraged DeFi positions were liquidated in 24 hours.[4] Bitcoin flash-crashed from $126,000 to $103,000, and the cascade was amplified by oracle infrastructure propagating distorted price data from stressed markets into automated liquidation triggers.[5]
Fall back to proprietary data providers. When market data doesn’t exist, some oracle architectures allow protocols to pull from centralized APIs, effectively reintroducing the trust assumptions that decentralized infrastructure was supposed to eliminate.
Paul Frambot, Co-Founder and CEO at Morpho, analyzing RWA pricing challenges, concluded that since tokenized assets “don’t have secondary markets,” DeFi must rely on “trusted price providers.” He’s right that this is where market-based architecture logically ends up when markets disappear.
Simply don’t support the asset. The most common outcome. If an asset doesn’t fit the market-aggregation model, it doesn’t get priced. Over $100 billion in tokenized treasuries, yield-bearing tokens, stablecoins, and other institutional-grade digital assets currently lack sufficient liquidity for reliable market-based pricing.[6]
This isn’t a flaw in any particular implementation. It’s a structural limitation: no market-based oracle, regardless of how sophisticated, can produce manipulation-resistant pricing from markets that are thin, stressed, or nonexistent. The architecture works for liquid assets. For assets whose value is defined by contracts, reserves, or portfolios rather than by trading, it’s a mismatch.
Traditional finance solved illiquid asset pricing decades ago through intrinsic valuation.
When a mutual fund holds private equity or illiquid bonds, it calculates Net Asset Value: sum of all holdings marked at fair value, divided by shares outstanding. When banks value loan portfolios, they use mark-to-model: discounted cash flows and credit risk adjustments. When Circle proves USDC is worth $1.00, they provide reserve verification: auditable proof that $1 of reserves backs each token.
These methods work because they compute value from verifiable inputs rather than observing market trades.
Bringing this approach onchain was previously impractical. Traditional fair value methodologies relied on trusted intermediaries: fund administrators calculating NAV, auditors verifying reserves, risk models run by centralized entities. Blockchain changes this: smart contract states, reserve balances, exchange rates, redemption formulas, and yield accruals can now serve as direct inputs for fair value computation with a degree of transparency that traditional finance never had.
DIA Value is the infrastructure we built for this. It delivers intrinsic fair-value pricing for assets where market data is absent, unreliable, or exploitable. Rather than reporting trades that can be manipulated, Value computes fundamental value from the most direct, verifiable data sources available, applying the same valuation logic that traditional finance has relied on for decades.
Value already powers fair value pricing across lending, stablecoins, and tokenized securities, including integrations with Euler, Morpho, Silo, Hydration, and others.
DIA Value implements five fundamental valuation methodologies:
Net Asset Value (NAV): For tokenized funds holding portfolios of assets. Aggregates fair value of all underlying holdings, applies fees and liabilities, divides by token supply. Proof of Reserves (PoR): For stablecoins and wrapped assets. Verifies reserves equal or exceed circulating supply. Value proven by backing, not trading. Contract Exchange Rate (CER): For yield-bearing tokens (stETH, aTokens). Reads redemption rate directly from protocol smart contracts. Value is what the contract guarantees you can redeem. Reserve-Backing Ratio (RBR): For algorithmic stablecoins and synthetic assets. Computes value based on ratio of collateral reserves to outstanding supply. Redemption Value (RV): For assets with programmatic redemption mechanisms. Calculates the value you would receive by executing the redemption function. Each methodology is designed to maximize pricing independence by deriving value from the most direct source available, whether that’s onchain smart contract state, reserve balances, or authoritative reference data for off-chain backing assets such as tokenized fund NAVs. In some cases, particularly for assets backed by off-chain reserves, Value integrates these inputs transparently, so protocols and users can see exactly how each price is computed and what data sources it relies on.
When a protocol queries Value for a tokenized treasury fund price, the system:
Reads the fund’s smart contract to enumerate holdings Prices each holding using the appropriate methodology Applies fees and liabilities encoded in the contract Returns per-share NAV with full calculation transparency A market-based oracle can’t do this because it’s looking for trades that don’t exist. Value computes intrinsic value from verifiable facts.
To be clear: this does not replace market oracles for liquid assets. DIA’s own market-based oracle, Market, handles pricing for assets with observable trading activity, sourcing data directly from exchanges. Value complements that foundation for assets whose value is defined by contracts, reserves, or portfolios rather than by trading.
Market-based oracles answer: “What did the last trade say?” Fair value oracles answer: “What is this asset fundamentally worth?”
Use Case Market Oracle Approach Intrinsic Value Approach Tokenized T-Bills Aggregate thin secondary trades (stale, manipulable) Compute redemption value from treasury contract + yield accrual Fund NAV Tokens Report last trade price (may be days old) Calculate real-time NAV from portfolio holdings Yield-Bearing Tokens Observe stETH/ETH pair (deviates from redemption) Read exchange rate directly from Lido contract Stablecoins Assume $1.00 or use thin DEX prices Verify reserves and compute backing ratio This shift unlocks capabilities that market-based oracles structurally cannot provide:
Institutional-grade collateral acceptance. Lending protocols can accept tokenized treasuries and fund shares as collateral based on auditable intrinsic value rather than manipulable secondary market prices. Euler’s recent integration demonstrates this in practice.
Regulatory-compliant fair value accounting. Fair value measurement standards (IFRS 13, ASC 820) explicitly require intrinsic valuation methods when markets are inactive. Value’s methodologies align with these frameworks.
Manipulation resistance through architecture. October 10th demonstrated that market-based oracles remain vulnerable when underlying markets are stressed. Fair value computation sidesteps this: you cannot game NAV calculation by moving thin order books.
Cross-chain pricing without fragmented liquidity. When an asset exists on multiple chains, market-based oracles face fragmented liquidity. Fair value oracles compute redemption value once from the canonical contract and publish everywhere. The value is the same because it’s derived from fundamental backing, not chain-specific trading.
What Value doesn’t solve:
It’s worth being clear about the boundaries. Value solves fair value for assets with verifiable data sources. Remaining challenges are governance and trust boundary questions, not architecture failures:
Off-chain reserves (e.g., Circle’s bank accounts) still require attestation. Value makes attestation auditable, but trust in the attester remains. Cross-chain verification depends on bridge security. Disputed valuation formulas for complex derivatives may have competing fair value models. Value executes formulas transparently, but choosing the right formula requires governance. Smart contract risk: if the contract is wrong, the valuation is wrong. Value surfaces this transparently rather than obscuring it, but the risk exists. When pricing infrastructure no longer depends on market liquidity, new capabilities open up across DeFi.
Lending protocols accept tokenized treasuries without oracle risk. Vault platforms can offer rates against tokenized fund shares based on auditable NAV, not whether someone traded yesterday.
Stablecoins verify reserves across complex, multi-chain structures. Next-generation stablecoins hold diversified portfolios of yield-bearing tokens and cross-chain assets. Value makes real-time reserve verification possible even when components are illiquid or fragmented.
Asset managers tokenize funds with real-time NAV onchain. Traditional funds calculate NAV once daily. Onchain funds can compute real-time NAV continuously, but only if the pricing infrastructure handles illiquid holdings and cross-chain positions.
Institutions meet regulatory fair value requirements without centralized intermediaries. The shift from centralized API providers to verifiable intrinsic computation is the difference between traditional finance with a blockchain wrapper and genuinely decentralized institutional infrastructure.
Risk curators build sophisticated credit models without market dependency. Professional risk managers, from established firms to emerging specialists, need to model scenarios, stress-test collateral, and assess fundamental value independent of market panic. Fair value infrastructure gives them the primitives to do this properly.
Bitcoin sitting idle is a trillion-dollar opportunity cost. hemiBTC lets holders deploy BTC productively into DeFi, but that only works if the pricing layer can verify the actual Bitcoin backing each token onchain. DIA Value does exactly that, no secondary market dependency, no centralized attestations. It's the kind of infrastructure that makes Bitcoin-native DeFi viable: fully trustless and verifiable.
Jeff Garzik
Co-Founder, Hemi Network
When you operate a stablecoin across four chains, pricing fragmentation becomes a real engineering problem. DIA Value solved this for us by computing USDp's fair value directly from onchain redemption data, reading collateral composition and redemption curves from our smart contracts. One verifiable fundamental price, consistent everywhere. That's what lets integrators treat USDp as reliable collateral without building custom pricing logic per chain.
Noah Boisserie
CEO, Cooper Labs
satUSD+ is a yield-bearing stablecoin, and its value is defined by what the protocol's staking contract actually pays out, not by what someone last traded it for on a DEX. DIA Value computes that fair value directly from onchain data, which means lending markets and vault strategies integrating satUSD+ can verify the price they're seeing. For an omnichain stablecoin system like ours, that reliability is non-negotiable.
River Team
River
Fundamental pricing methodologies will drive the next wave of institutional capital being deployed onchain. It is a prerequisite that has been missing from DeFi’s infrastructure stack, and its arrival expands the addressable market for oracle infrastructure significantly beyond price feeds.
Market-based oracles gave DeFi the rails to price liquid markets. Value gives DeFi the foundation to price everything else.
The shift from market observation to intrinsic computation expands what oracle infrastructure can do, specifically into the asset classes that institutional DeFi needs priced to grow.
DIA spustila pro USDh na Stacks fundamentální cenový feed, který počítá férovou hodnotu přímo z BTC a stablecoinových rezerv Hermetica. Při plném krytí oceňuje USDh na 1,00 USD.
DIA’s fundamental valuation oracle computes USDh’s fair value directly from its Bitcoin and stablecoin reserves, replacing market-based pricing with verifiable reserve verification on Stacks.
Hermetica builds Bitcoin yield infrastructure on Stacks. Its stablecoin, USDh, is backed by a combination of BTC and stablecoin reserves held by the protocol. Users can earn yield on their Bitcoin through Hermetica’s products while USDh serves as the stable unit of account in the system.
USDh’s value is defined by what backs it: verifiable reserves of Bitcoin and stablecoins. For an asset with this structure, the architecturally correct pricing approach is to compute value directly from the reserves, not to observe secondary market trades. Market-based pricing can be a reasonable methodology in certain cases, but reserve verification is the methodology that matches how the asset actually works.
For lending protocols like Zest that integrate USDh into their contracts, pricing accuracy directly affects position health calculations, collateral valuations, and liquidation logic. The price feed needs to reflect what USDh is fundamentally worth based on its backing, updated reliably and transparently.
DIA's oracle infrastructure and Hermetica's reserve-backed design are complementary. Bitcoin DeFi no longer needs to rely on volatile market-based pricing. Instead, institutions and individuals alike can benefit from the manipulation-resistant fair value price for USDh that DIA enables.
Jakob
Founder & CEO, Hermetica
DIA deploys a Reserve-Backing Ratio (RBR) fundamental feed for USDh through the DIA Value oracle. Instead of observing secondary market trades, the oracle computes fair value directly from Hermetica’s reserve composition.
The process works as follows. The oracle reads the current state of Hermetica’s reserves, including BTC holdings and stablecoin balances, from the protocol’s backing data. It then compares total reserve value against USDh circulating supply. If reserves meet or exceed supply, USDh is priced at $1.00. If reserves fall below supply, the oracle reflects the actual backing ratio, pricing USDh at $1.00 multiplied by the fraction of reserves over outstanding supply.
This means the price USDh carries onchain is always derived from what actually backs it, not from what someone last paid for it on a DEX.
The feed is live on the Stacks public good oracle, where any protocol or user can query the USDh/USD value in real time.
The transition from market observation to reserve verification reflects a broader principle. Bitcoin-backed stablecoins derive their value from their reserves, not from trading. The correct oracle methodology for this asset class is one that computes value from verifiable backing data, just as traditional finance prices money market funds from their NAV rather than from secondary trades.
DIA Value’s RBR methodology makes this computation transparent and continuous. Lending protocols consuming the feed can trust that the price reflects verified reserve backing. This is especially important during periods of broader market volatility, when the value of stablecoins needs to be anchored to fundamentals rather than short-term market dynamics.
The integration also demonstrates a broader pattern in how stablecoin pricing infrastructure needs to evolve. As more stablecoins adopt complex reserve structures spanning multiple asset types and chains, the ability to compute fair value from verifiable backing data becomes a prerequisite for institutional adoption, not a nice-to-have.
DIA začala pro River poskytovat cenové feedy pro satUSD na pěti blockchainech a fundamentální ocenění satUSD+ podle onchain dat. Cílem je přesnější a ověřitelné nacenění pro lending a vault strategie.
DIA delivers market price feeds for satUSD across five chains and fundamental valuation for satUSD+, giving lending markets and vault strategies verifiable pricing for River’s stablecoin ecosystem.
River operates a chain-abstraction stablecoin system built around satUSD, an over-collateralized stablecoin backed by BTC, ETH, BNB, and liquid staking tokens. Users who stake satUSD receive satUSD+, a yield-bearing token that compounds automatically while remaining composable across DeFi.
This creates a pricing challenge that a single oracle approach cannot solve.
satUSD trades on secondary markets across multiple chains. For this asset, market-based pricing works: aggregate trades, filter outliers, publish the result. But satUSD+ is different. Its value is defined by what the staking contract pays out, not by what someone last traded it for on a DEX. Thin secondary markets for yield-bearing tokens are vulnerable to manipulation, and stale trade data misinforms the risk models that lending protocols and vault curators depend on.
River needed both: reliable market pricing for satUSD and intrinsic valuation for satUSD+.
DIA provides market price feeds for satUSD on Ethereum, BNB Chain, BOB, Arbitrum, and Base, matching River’s omni-CDP architecture, where users deposit collateral on one chain and mint satUSD on another via LayerZero. Pricing infrastructure has to follow the asset wherever it goes.
Each feed is powered by DIA’s Decentralized Feeder Network, where independent feeders scrape real-time trade data directly from the exchanges where satUSD trades, aggregate it through a verifiable two-step process on DIA’s own blockchain, and deliver the result onchain. No intermediary data vendors, no opaque pipelines. Protocols consuming the feed can trace every price back to its source trades.
For satUSD+, DIA deploys a fundamental feed using the Contract Exchange Rate (CER) methodology from DIA Value. Rather than observing secondary market trades, the feed reads the satUSD+/satUSD exchange rate directly from the vault contract on BNB Chain, computing fair value from what the protocol actually guarantees you can redeem.
This means lending markets and vault strategies integrating satUSD+ can price the asset based on verifiable onchain data rather than sparse DEX activity. The distinction matters most precisely when it matters most: during periods of market stress, when thin order books deviate furthest from fundamental value.
satUSD+ is a yield-bearing stablecoin, and its value is defined by what the protocol's staking contract actually pays out, not by what someone last traded it for on a DEX. DIA Value computes that fair value directly from onchain data, which means lending markets and vault strategies integrating satUSD+ can verify the price they're seeing. For an omnichain stablecoin system like ours, that reliability is non-negotiable.
River Core Team
Full contract addresses and integration guides are available in River’s documentation.
River’s TVL and cross-chain architecture make it a clear example of why oracle infrastructure needs to go beyond market observation.
As professional risk curators and capital allocators evaluate yield-bearing stablecoins for vault strategies, they need pricing they can model against. A last-trade price from a low-liquidity DEX pair is not that. A verifiable exchange rate read from the issuing contract is.
DIA Value’s fundamental valuation methodologies exist precisely for this category of asset: tokens whose value is defined by contracts, reserves, or portfolios rather than by trading. River’s satUSD+ is a textbook case of the Contract Exchange Rate methodology in action, and the integration demonstrates how market feeds and fundamental feeds work as complements within a single protocol’s oracle stack.
Parallel Protocol integroval DIA Value pro ověřené onchain cenové feedy pro USDp a sUSDp napříč Hyperevm, Base, Avalanche a dalšími sítěmi. Feedy jsou už v produkci.
Fundamental and market price feeds for USDp and sUSDp now live across Hyperevm, Base, and Avalanche
Parallel Protocol has integrated DIA Value to deliver verifiable onchain price feeds for its stablecoin system. The integration covers both USDp and its yield-bearing wrapper sUSDp across four networks, and is live in production.
USDp is a collateral-backed stablecoin deployed across Hyperevm, Base, and Avalanche. That multichain footprint creates a pricing problem that market-based oracles handle poorly: liquidity is fragmented across chains, thin order books invite manipulation, and yield-bearing wrappers like sUSDp require chain-local vault rate accounting that single-price feeds don’t support.
The integration provides two complementary feed types:
Fundamental feeds compute USDp’s fair value directly from onchain redemption data. The oracle reads collateral composition and redemption curves from Parallel’s smart contracts in real time, producing a price that reflects what USDp can actually be redeemed for rather than what a thin secondary market last traded. For sUSDp, the fundamental feed multiplies the USDp benchmark by the chain-local vault exchange rate, keeping the price accurate per deployment.
Market feeds provide a separate USDp price sourced directly from trading venues, published under a distinct key so protocols can choose the methodology appropriate for their use case.
Both feeds are available via AggregatorV3-compatible adapters across all four chains.
When you operate a stablecoin across four chains, pricing fragmentation becomes a real engineering problem. DIA Value solved this for us by computing USDp's fair value directly from onchain redemption data, reading collateral composition and redemption curves from our smart contracts. One verifiable fundamental price, consistent everywhere. That's what lets integrators treat USDp as reliable collateral without building custom pricing logic per chain.
Noah Boisserie
CEO, Cooper Labs
For full technical implementation detail, see Parallel’s integration post.
DIA se stává oracle vrstvou pro LitVM, první trustless EVM rollup na síti Litecoin. Na LiteForge už běží cenové feedy pro BTC, LTC, ETH, USDC a další aktiva.
Litecoin launched in 2011 as a payments network. For 14 years it has operated without native smart contracts, DeFi, or programmable assets. LitVM changes that.
LitVM is Litecoin’s first trustless EVM rollup, officially endorsed by the Litecoin Foundation. It is built on Arbitrum Nitro with Succinct’s SP1 zkVM for validity proofs and BitcoinOS’s Grail Bridge for trustless LTC transfers. Its LiteForge testnet is live, opening Litecoin to DeFi protocols, yield markets, and tokenized assets for the first time.
Every protocol that deploys on LiteForge needs pricing infrastructure. Lending markets mark collateral against oracle prices. DEXs quote reference rates. Without reliable feeds, nothing that touches price data ships.
DIA is now the oracle layer for LitVM.
Price feeds for BTC, LTC, ETH, USDC and other major assets are deployed on LiteForge (chain ID 4441). Both push and pull delivery are available. Each dApp on LitVM configures its own data sources, update frequency, and deviation or time-based triggers. Lending protocols and perp DEXs have different requirements from the same infrastructure.
DIA sources data directly from exchanges and onchain venues rather than relying on third-party aggregators. Every feed is transparent at the source level. Long-tail assets native to LitVM’s ecosystem can be supported on request.
DIA's transparent, source-level data feeds align with what we're building: a DeFi ecosystem where nothing is hidden and nothing is trusted blindly. We're proud to have DIA as LitVM's oracle infrastructure provider.
Aztec Amaya
Co-Founder, LitVM
LitVM’s roadmap extends into tokenized commodities, institutional yield, and AI applications. DIA’s product stack covers all three: RWA price feeds, proof of reserves and fundamental feeds, and verifiable randomness. These are available to LitVM builders as use cases emerge on the rollup.
The integration guide is available at diadata.org/docs/guides/chain-specific-guide/litvm. LitVM builders can request custom feed configurations or additional asset support by reaching out to the DIA team.
Coinbase Derivatives podala u CFTC žádost o spuštění futures na Avalanche, Chainlink, Polkadot, Stellar a Shiba Inu. Obchodování má začít po 15. červenci.
The derivatives arm of crypto exchange Coinbase has just submitted to the Commodity Futures Trading Commission (CFTC) documents to self-certify the listing of new futures products tied to five popular crypto assets.
According to the filings, Coinbase Derivatives is launching futures contracts for Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHB), which will all be offered for trading on or after July 15th.
[adinserter block="1"]
The documents say that Coinbase has spoken with futures commission merchants (FCMs) and market participants who support the decision to launch the contracts.
“The Exchange is not aware of any substantive opposing views to the Contract. The Exchange certifies that the Contract and related rules certified herein comply with the Commodity Exchange Act and the rules and regulations promulgated thereunder.”
In a statement, Coinbase Derivatives says it will be the first futures exchange in the US to introduce CFTC-regulated margined futures contracts for AVA, LINK, DOT, XLM and SHB.
“With the addition of AVA, LNK, DOT, XLM, and SHB, our participants and their clients gain more access points to manage risk, speculate on price movements, and participate in the crypto economy with reduced upfront capital requirements.”
Coinbase Derivatives also recently launched commodities futures contracts for oil and gold after noticing increased demand for retail-focused products on accessible and regulated exchanges. The new futures contracts are sized at 10 barrels of oil and one troy ounce of gold.
Travala.com plně integroval Solanu a nově nabízí odměny v SOL za cestovní rezervace. Uživatelé mohou také bez poplatků vkládat a vybírat SOL, USDT a USDC.
Users may now take advantage of zero-fee transactions when booking travel by using the Solana network integration. Additionally, user account wallets now support SOL, according to Travala.com. Crypto-native travel platform Travala.com, has said that it has extensively integrated the Solana network across the platform and will provide SOL travel rewards to users of its loyalty program. Following an AVA community vote, the integration will also see the deployment of AVA—the token used to access the travel reward program on Travala.com in conjunction with the AVA Foundation—deployed on Solana, making it the third network after Ethereum and BNB Chain where the AVA token may be accessible.
Travel bookings utilizing assets on the Solana network, such as SOL itself and USDT, USDC, and more, are now possible for Solana users thanks to Travala.com’s decision to offer support for the fourth-largest blockchain in the world by market capitalization.
Travelers will soon be able to use the AVA Smart Program, the travel loyalty program accessible on Travala.com, to get up to 10% of every booking back in SOL rewards as part of the extensive integration. As of right now, loyalty members may choose from a variety of travel reward alternatives based on their tier, including Bitcoin, AVA, and Travala.com Travel Credits. SOL will only be the third reward token available inside the loyalty program.
Additionally, user account wallets now support SOL, according to Travala.com. Less than ten cryptocurrencies are supported natively by the account wallet, despite the fact that Travala.com supports over 100 cryptocurrencies. Users may now take advantage of zero-fee transactions when booking travel by using the Solana network integration to make deposits and withdrawals of SOL, USDT, and USDC into their Travala.com account.
Juan Otero, CEO of Travala.com stated:
“The Solana network has become one of the most-used blockchains due to its cost effectiveness and scalability. Not only is the amount of activity within the Solana ecosystem incredible, so is the creativity. As innovators at Travala.com, the technologies that can be harnessed on the Solana network open significant avenues to build the next phase of travel.”
Beyond extending support for the Solana network and the soon-to-be SOL travel rewards, the connection goes beyond that. Travala.com has pledged to embrace the Solana ecosystem and will develop products on the high throughput network to capitalize on Solana’s cheap transaction costs and scalability. Going forward, Travala.com’s development strategy will be centered on Solana, with the aim of developing products that increase the practical applications of the Solana ecosystem.
The recent decision by Skyscanner to integrate Travala.com, which makes its inventory of more than 2,200,000 hotels completely discoverable on Skyscanner’s platforms, is followed by Travala.com’s integration with Solana. With this integration, Travala.com became the first crypto-native travel platform to be included to Skyscanner, a website that receives 110 million monthly visitors and users complete 80 billion searches daily.
Travala.com, which was established in 2017, is the top crypto-native travel booking platform, including over 2,200,000+ properties across 230 countries, over 400,000 activities, and over 600 airlines worldwide. As an advocate for the use of cryptocurrencies, Travala.com accepts more than 100 popular cryptocurrencies in addition to conventional payment options. For qualifying reservations booked on Travala.com, Smart members may take advantage of extra savings and loyalty benefits in addition to the website’s amazing pricing via its Best Price Guarantee. Go to www.travala.com to learn more about Travala.com.
A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.
Binance Margin ukončí obchodování několika marginových párů vůči BTC, včetně BAND/BTC, GTC/BTC, HIGH/BTC, PERP/BTC, STPT/BTC a AVA/BTC. Týká se to jak cross, tak isolated margin obchodování. Delistování začne 4. prosince 2024 pozastavením isolated margin půjček a úplné odstranění včetně automatického uzavření pozic a zrušení čekajících příkazů proběhne 11. prosince 2024 v 06:00 UTC. Uživatelé by měli před konečným odstraněním uzavřít pozice a převést aktiva do spotových peněženek.
Binance Margin will phase out several BTC margin trading pairs, including Band Protocol, Gitcoin, Highstreet, Perpetual Protocol, STP, and AVA. This affects both cross and isolated-margin trading options, reducing available pairs for users.
The exchange has cautioned users to close positions and transfer affected assets from Margin Wallets to Spot Wallets to avoid potential losses. However, despite the delisting news, coins like Highstreet and Perpetual Protocol have surged by 6% to 12% in price, while AVA, Gitcoin, BAND, and STP recorded modest gains of 1% to 2%. This mixed market response highlights varying investor sentiment across the affected assets.
Binance To Delist These Tokens On December 3, Binance informed users about upcoming changes to its margin trading offerings. Several BTC trading pairs, including Band Protocol, Gitcoin, and Highstreet, will no longer be available for cross or isolated-margin trading.
According to the announcement, BAND/BTC and GTC/BTC cross-margin pairs, along with isolated margin pairs like AVA/BTC, HIGH/BTC, PERP/BTC, and STPT/BTC, will be removed. The delisting process begins on December 4, 2024, with the suspension of isolated margin borrowing. Full removal, including automatic closure of positions and cancellation of pending orders, will occur on December 11, 2024, at 06:00 UTC.
Binance, one of the top crypto exchanges, advises users to act proactively by closing positions and transferring funds to Spot Wallets ahead of these deadlines. While these pairs are being phased out, the underlying assets will still be tradable on other available pairs within the platform. These changes aim to streamline Binance’s offerings and better align with market demands.
Price Movements Of The Crypto Amid Delisting November saw a bullish trend in the crypto market, with approximately $1 trillion added in just one month. This surge in market momentum has positively impacted several of the affected assets, despite Binance’s delisting announcement.
Band Protocol (BAND) price traded at $1.90, up 4% in the last 24 hours and 22% over the past week. GTC price surged 40% in the past week, reaching $1.20, and has gained 100% over the last month. PERP rose 7% to $1.03, marking a 20% increase in just one week.
Highstreet (HIGH) price also saw strong performance, up 12% to $2.04. Meanwhile, STPT price exchanged hands at $0.05, a 40% hike over the past month. AVA price was up 8%, priced at $0.72, reflecting a positive short-term outlook despite the upcoming delisting.
Binance spustila perpetual kontrakt LOKAUSDT pro League of Kingdoms Arena (LOKA) a token na zprávě vyskočil o více než 20 %. Objem obchodů za 24 hodin vzrostl o 155 % na 22,74 milionu USD.
With crypto exchange giant Binance extending support to the League of Kingdoms Arena (LOKA) P2E crypto project, market sentiments surrounding the token turned highly bullish on Tuesday. LOKA price shot up nearly 20% as the exchange announced futures listing for the token on its platform. Meanwhile, traders appear to have reacted positively to the listing announcement, as even the coin’s intraday trading volume rocketed nearly 155%.
Binance Debuts League of Kingdoms Arena (LOKA) Futures Trading In an official Binance announcement dated September 24, the leading crypto exchange revealed that it is launching the LOKAUSDT perpetual contract today at 11:30 UTC. This decision by the exchange comes as a mover to expand the list of trading choices offered on the platform.
Binance notified that users could enjoy up to 75x leverage when trading the asset. The capped funding rate was set at +2.00% / -2.00%, per the announcement. Further, the tick size was set at 0.0001 by one of the top crypto exchange. However, the listing announcement also notified users that the perpetual contract may be subject to potential changes ahead, primarily due to market risk conditions. These potential changes could encompass adjustments in funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
It’s also worth noting that League of Kingdoms (LOKA) is a blockchain-based Massively Multiplayer Online (MMO) strategy game. For context, it is also a play-to-earn ecosystem that allows players to earn real income through in-game participation.
P2E Token Price Blows Up 20% At press time, LOKA price shot up slightly over 20% from its 24-hour low to trade at $0.2723. The coin’s intraday low and high were $0.2236 and $0.2959, respectively. LOKA’s 24-hour trading volume experienced a 155% surge to $22.74 million in light of Binance’s listing announcement. Intriguingly, today’s price upswing primarily aligns with the futures trading announcement, as also seen in other tokens’ price action post-listing.
Notably, Aavegotchi (GHST) price soared nearly 37% on Binance futures listing, CoinGape Media reported yesterday. Simultaneously, another report revealed that Telegram-based P2E crypto project Catizen (CATI) price skyrocketed remarkably on its debut on the exchange. Overall, these chronicles validate LOKA’s price upswing witnessed today.
League of Kingdoms spouští Arena-Z, novou blockchainovou herní platformu Layer 2 na AZ Chain, vytvořenou ve spolupráci s Optimismem na Superchainu. Hra i její kolekce NFT se přesouvají z Polygonu na AZ Chain kvůli rychlejším transakcím a nižším poplatkům.
The world’s first blockchain MMORTS game, League of Kingdoms, has announced the launch of Arena-Z, a brand-new blockchain chain and gaming platform tailored specifically for Web3 gaming. AZ Chain is a Layer 2 solution created in partnership with Optimism and built on the Superchain to improve scalability and gaming performance.
As a part of the Superchain collective, AZ Chain guarantees complete EVM compatibility while providing fast transaction speeds, short block times, and low fees. This infrastructure facilitates a smooth user experience and fosters an expanding developer and players community. With this platform, the blockchain gaming community will have more earnings opportunities and a future free of gas.
In order to provide a solid basis for Arena-Z’s Web3 gaming activities, League of Kingdoms will also be migrated to the AZ Chain. This move will capitalize on the game’s four years of sustainable operation, millions of players, and multi-million NFT transactions. In order to expand the selection of digital assets accessible to players, League of Kingdoms’ well-liked NFT collections are being transitioned from Polygon to AZ Chain as part of this shift.
Arena-Z provides development tools including SDKs and APIs, community building, marketing assistance, and grants in addition to incubating and assisting new Web3 gaming studios. This initiative is a component of a larger endeavor to promote development and innovation in the blockchain gaming industry.
With its Plug & Play Web 2.5 SDK and marketplace SDK, which simplify the integration and introduction of unique gaming NFT marketplaces for developers, Arena-Z is a leader in technological innovation. For mainstream gamers, the platform’s native payment gateway, on/off ramps, and Web 2.5 game portals streamline the onboarding process. Arena-Z ensures quick performance with their AZ Chain, attaining 2-second block timings, 293 transactions per second capacity, and less than $0.01 in transaction fees.
An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.
Yield App ukončuje veškerou činnost a chystá se do likvidace po ztrátách spojených s kolapsem FTX. Firma uvedla, že šlo o ztráty v portfoliu od třetích správců hedge fondů.
Backed by AGE Crypto and Alphabit, crypto wealth management platform Yield App has announced its shutdown following losses linked to the collapse of FTX.
Yield App appears to be the latest crypto firm to fall victim to the fallout from the FTX collapse, announcing in a Jun. 28 post on X the closure of “all activity” as it “prepares to enter liquidation proceedings.”
Suspension of platform activity ahead of liquidation proceedings
28 JUNE 2024, 04:15 UTC: Yield App Ltd, a Seychelles-incorporated limited liability company, is today, Friday 28 June 2024, announcing the suspension of all activity on the digital wealth platform…
— Yield App (@YieldApp) June 28, 2024 Founded in 2020 by Tim Frost, Justin Wright, Jan Strandberg, and Jason Corbett, Yield App marketed itself as a “one-stop crypto wealth platform where you can earn interest, buy, and swap between your cryptocurrency assets.” Now, the firm is trying to get its funds stuck on the FTX crypto exchange.
“Yield App asks for the patience of its valued customers as it works with its advisors, with whom it jointly commits to releasing further information, including detailed FAQs, at the earliest possible date.”
Yield App
In the X post, Yield App attributed the decision to “portfolio losses incurred through third-party hedge fund managers that held Yield App assets in custody on the collapsed cryptocurrency exchange FTX, and who are subject to ongoing litigation.”
Although the firm didn’t disclose the name of the hedge fund, earlier reports suggested that Yield App’s funds might be trapped on FTX due to “criminal” mismanagement by Swiss hedge fund Tyr Capital Partners.
Tyr allegedly ignored internal risk limits and investor warnings regarding its exposure to FTX. While Yield App wasn’t a direct client of Tyr, it was a client of TGT, a fund whose directors included Yield App co-founders Wright and Corbett, which had invested with Tyr on Yield App’s behalf.
FTX collapsed in November 2022 amid allegations of embezzlement and misappropriation of billions of dollars in customer funds involving its owners and affiliated hedge fund Alameda Research. Sam Bankman-Fried, the founder of the exchange, was sentenced to 25 years in prison and ordered to reimburse $11 billion.
FOLD od Manifold Finance spadl na nové minimum 64 centů, což je 98 % pod vrcholem 87 USD. Zakladatel Sam Bacha mezitím přestal pravidelně komunikovat a podporovatelé žádají odpovědi.
Manifold Finance's FOLD token crashes to 64 cents from a $87 peak amid product disappointment.Founder Sam Bacha goes quiet, responds to concerns with memes and jokes.Once-promising startup raised $2.5 million from VCs before downward spiral.Manifold Finance, a onetime buzzy crypto project, has plunged into turmoil.
Its erratic founder is unreachable, the price of its token is plummeting, and frustrated supporters are pleading for updates.
Manifold’s token, FOLD, hit an all-time low of 64 cents on November 8 — 98% off its 2022 peak of $87 — even as crypto markets surged on the election of Donald Trump as the US president.
Fold’s worth peaked at more than $87, and it was trading above $30 as recently as April. In 2022, the venture’s market value topped $128 million. Now it’s only $2 million.
Disappointing responseThe token has crashed amid a disappointing response to Manifold’s year-old liquid staking product, which was meant to compete with the likes of crypto giants Lido and Rocket Pool.
It has also suffered as a prominent backer stopped providing liquidity for the token on decentralised exchange SushiSwap earlier this year.
Meanwhile, founder Sam Bacha has not provided regular updates on a forthcoming product meant to reverse Manifold’s declining fortunes. Self-imposed deadlines have come and gone.
Bacha has occasionally commented in a 2,500-person Telegram chat without offering any explanation as to his whereabouts or Manifold’s progress, instead cracking jokes and sharing irrelevant memes, infuriating some supporters.
Lost supportEven one of Manifold’s most prominent investors, crypto influencer Jordan Fish, better known as Cobie, said in the group Telegram chat that he has lost faith in the company.
“I invested in it in 2021, and at the top, it was worth like $5m and now it’s worth 0,” Fish told DL News. “I don’t know what to tell you, yeah, seems like it failed, crypto investments are risky, maybe I should’ve sold the top, it is what it is.”
‘When did you last talk to Sam? He still alive?’
— Supporter on TelegramPhilipp Zahn, a co-founder of Manifold partner 20squares, declined to comment to DL News, but called the company a “former client.”
Bacha and Alexander Bradley, Manifold employee, did not respond to multiple requests for comment.
Manifold isn’t Bacha’s first project to go sideways.
His last crypto startup, Block Array, appears to be defunct, and has been dogged by allegations of fraud. What’s more, this isn’t the first time he’s gone weeks without providing the status updates that are de rigueur in the crypto industry.
But with the collapse of Manifold’s token and supporters’ anger boiling over, Bacha’s behaviour has taken a more ominous tone.
It’s the latest example of the pitfalls that come with crypto’s freewheeling culture.
Past troubleBacha graduated from the University of Tennessee at Chattanooga in 2013, according to his LinkedIn account, which noted he had stints at AT&T and Amazon before founding his first blockchain-based startup in 2017.
Block Array’s website and white paper were inaccessible on Friday. The X account for its Freight Trust product has been suspended. Freight Trust’s token, EDI, is seldom traded and, despite a total supply of 600 million, had no market value Friday, according to Etherscan. Block Array’s token, ARY, is also worthless, according to Etherscan.
Malicious botsManifold was founded in 2021 to help crypto traders avoid front-running from malicious bots. It raised $2.5 million from P2P.org, Marshland Capital, and several other venture investors.
A version of that anti-front running software was developed for SushiSwap, a decentralised crypto exchange.
But it was quickly shelved due to software bugs. SushiSwap declined to integrate a retooled version of the software, opting to pursue development of an in-house version instead.
After forays into other crypto middleware, Manifold eventually pivoted to liquid staking, a multibillion-dollar business long dominated by DeFi giant Lido.
But Manifold’s liquid staking token, mevETH, saw little uptake after its launch a year ago; the market value peaked at $36 million in March.
Certain transactionsSince then, it has been working in collaboration with German research firm 20squares on a new product, XGA.
XGA is meant to ensure prompt confirmation of certain transactions, which sometimes wallow on Ethereum when a user doesn’t pay a sufficient fee.
Manifold investors held out hope XGA would lift the company from its doldrums. Without warning, however, Bacha stopped providing regular updates on his company’s work.
‘Where were you for the last 30 days? Why not a single reply here in the channel?’
— Supporter in Telegram channelCrypto security firm KebabSec had started an audit of XGA’s code, Bacha said in a September 2 update shared in the Telegram group chat. It is unclear whether that audit has been completed.
Bacha also said Manifold would begin testing XGA on an Ethereum-based test network September 17. A revamp of FOLD’s so-called tokenomics would be detailed by the end of that month, he added.
None of that appears to have happened.
“When did you last talk to Sam? He still alive?” one supporter asked in the Telegram chat on October 28.
Later that day, Bacha broke his silence to ask for feedback on Manifold’s revamped website. And he promised he would promptly share more information.
“I will post the long awaited update today comrades,” he wrote.
That update never came.
Dim moodOn October 30, Bacha took to Manifold’s seldom-used governance forum to propose the Manifold community move its conversation to social media app Discord.
The proposal was panned by supporters, who said that was the least of their concerns.
“Where were you for the last 30 days? Why not a single reply here in the channel? The mood is pretty dim,” one wrote.
“I was being vetted to become Trump’s new Crypto Czar,” Bacha replied in an apparent joke.
Missed deadlinesIn a subsequent message, he took aim at supporters who had accused him of blowing past self-imposed deadlines.
“Deadlines proclaimed by me in Telegram do not constitute any sort of binding agreement,” he wrote.
After the November 5 election, Bacha returned to the chat to share a meme derived from the film “Superman II” in which a supervillain commands, “Kneel before Zod!”
Supporters fear the worst.
“We don’t know if Sam is even coding. We don’t even know if there’s anything happening,” one wrote.
Two possibilitiesThere were two possibilities, the commenter continued: either the company was about to fold and “they don’t know how to tell us,” or “they’re working tirelessly” to release XGA.
On November 11, Matthew Land, a partner at Marshland Capital, an investor Manifold, said in a separate Telegram channel he had spoken with Bacha over the preceding weekend.
Land declined to comment when contacted by DL News Friday.
In his Telegram message, Land said he had told Bacha of “the importance of communication” and of resolving FOLD’s liquidity issue.
“As I said before, ball’s in Sam’s court and on Sam’s timeline,” Land said.
“He understands what’s up imo but we have no impact on his decisions/timeline to address them unfortunately.”
Correction, November 15: A previous version of this story stated that Matthew Land spoke to Sam Bacha about FOLD’s price. It has been corrected to state they spoke about FOLD’s liquidity issues. This story was also updated to note that Land declined to comment.
Aleks Gilbert is a DeFi correspondent based in New York. Have a tip? Contact him at [email protected].
