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UAE Brings Avalanche to Digital ID System With 12 Million Users
The United Arab Emirates is preparing to use the Avalanche blockchain in its national digital identity infrastructure. The integration will involve UAE PASS, which serves more than 12 million people.Avalanche announced the development through its official social media account on September 14. The network’s technology will support the UAE’s identity verification and digital document signing infrastructure. However, the technical scope of the integration has not yet been disclosed. It also remains unclear which UAE PASS processes will operate on Avalanche.Avalanche will be integrated into UAE PASSAvalanche said in its post that the UAE would use its technology within the country’s national digital identity infrastructure. The announcement noted that UAE PASS serves citizens, residents and visitors.UAE PASS allows users to verify their identities digitally. The platform also provides access to electronic document signing and government services. The system is available across digital services offered by government agencies and private companies. Users can therefore verify their identities across different platforms without creating separate accounts.The Avalanche integration will bring blockchain technology into a national public infrastructure. However, the announcement did not provide a detailed description of Avalanche’s role within UAE PASS.It remains unclear whether Avalanche will directly store identity information. The network could instead be used solely for document verification, transaction records or specific infrastructure components.The integration will cover more than 12 million usersUAE PASS serves more than 12 million users. This figure includes UAE citizens, foreign residents and visitors.The scale of the project could make the integration one of Avalanche’s most significant institutional use cases. The network has previously focused on finance, tokenization and enterprise blockchain projects.Its use in digital identity will connect Avalanche technology directly with public services. The integration could also expand the use of blockchain beyond cryptocurrency transactions.The UAE has increased its investments in digital public services and blockchain projects in recent years. The country aims to consolidate identity verification processes under a single digital platform.UAE PASS operates as a core component of this strategy. The Avalanche integration could create a new technological layer for verifying identity and document-related transactions within the system.The role of the AVAX token remains unclearThe announcement did not explain what role Avalanche’s native token, AVAX, would play in the integration. It also remains unclear whether transactions will take place on the public Avalanche network or a private blockchain.This distinction is important when assessing the integration’s potential effect on demand for AVAX. If the UAE uses a private Avalanche-based network, the system’s direct connection to the token could remain limited.Transactions conducted on the public network could support AVAX usage through network fees and validation mechanisms. However, the available information does not provide enough technical detail to reach that conclusion.UAE authorities have not yet released a detailed announcement about the integration timeline. The launch date, expected transaction capacity and data privacy model remain unknown.
Crypto This Week: Fed Decision and 30 Key Events
Bitcoin started the week of September 14–20 at around $77,500. The Federal Reserve’s interest rate decision, a crypto vote in the US Senate and oil prices above $100 could increase market volatility. The crypto calendar also features a Pi Network upgrade, delistings by South Korean exchanges and a TRUMP token unlock worth approximately $57 million. Chainflip is preparing to restart its network following a 736,000 USDT exploit over the weekend.Fed interest rate decision and projections are comingThe Federal Open Market Committee’s two-day meeting will begin on Tuesday, September 15. The Fed will announce its interest rate decision and updated economic projections on Wednesday, September 16, at 9:00 p.m. Turkey time. The chair’s press conference will begin at 9:30 p.m.The Fed’s official calendar confirms the announcement times for the current policy rate of 3.50%–3.75%. Futures markets assign a probability of more than 85% to a 25-basis-point increase. Goldman Sachs and JPMorgan have also revised their expectations toward a rate hike.US consumer inflation, released last week, reached 0.4% monthly and 3.4% annually. Inflationary pressure, combined with strong employment data, strengthened expectations that the Fed could resume monetary tightening.Markets will also monitor the dot plot and economic forecasts for 2026–2028. Officials’ projections for further rate increases this year could influence Bitcoin through movements in the dollar and Treasury yields.US retail sales data for August will arrive on September 16 at 3:30 p.m. Turkey time. Import price data, scheduled for the same time, will offer further information about how energy costs are feeding into domestic inflation.BoE and BOJ decisions fall in the same weekThe Bank of England will publish its interest rate decision on Thursday, September 17, at 2:00 p.m. Turkey time. All 65 economists surveyed by Reuters expect the BoE to keep its policy rate unchanged at 3.75%.The United Kingdom will announce August inflation data one day before the decision. According to the Office for National Statistics calendar, the figures will arrive on September 16 at 9:00 a.m. Turkey time. Annual inflation stood at 2.9% in July.The UK labor market report will be released on Tuesday, September 15, at 9:00 a.m. It will include new data on unemployment, wage growth, job vacancies and payroll employment.The Bank of Japan will meet on September 17–18. A Reuters poll indicates strong expectations that the central bank will raise its current 1% policy rate by 25 basis points.The decision is expected on the morning of Friday, September 18. BOJ Governor Kazuo Ueda’s press conference will begin at 9:30 a.m. Turkey time.The meeting carries additional significance for crypto markets. A rate hike could strengthen the yen and trigger the unwinding of leveraged positions financed through the Japanese currency.CLARITY Act heads for a critical Senate voteThe US Senate is preparing to hold a procedural vote on the CLARITY Act on September 15. The legislation aims to define the division of responsibilities within the digital asset market. It needs support from 60 senators before debate can formally begin.The bill would reorganize regulatory authority over crypto assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would also establish federal rules for exchanges, brokers, custodians and token issuers.The Senate Banking Committee approved the bill in May by a vote of 15–9. According to Reuters, objections involving stablecoin interest payments and crypto companies’ access to banking services could make the 60-vote threshold difficult to reach.Passing the procedural vote would not amount to final approval. If the motion succeeds, the Senate would still need to consider amendments and vote on the full legislative text.The House Ways and Means Committee could also discuss the taxation of staking and mining rewards on September 16. Wash-sale rules for digital assets may form another part of the discussion.However, the committee has not published a confirmed time on its official calendar. Therefore, the potential hearing is not included in this week’s verified schedule.Oil prices become a liquidity risk againBrent crude started the week near $107 per barrel, while West Texas Intermediate traded around $102. Attacks on energy infrastructure in Saudi Arabia and risks to regional shipments continue to support prices.Oil prices remaining at these levels could fuel global inflation through higher fuel and transportation costs. The Fed, BoE and BOJ will all announce decisions this week, increasing the potential impact of energy-driven inflation on digital assets.Attacks on Russian refineries are also reducing diesel production and intensifying pressure on energy markets. US diesel prices rising above $6 per gallon create another risk for corporate costs and consumer inflation.Upbit, Bithumb and Bitget plan delistingsUpbit and Bithumb will end trading support for Storj, JasmyCoin and ThunderCore on Monday, September 14, at 9:00 a.m. Turkey time. The exchanges will cancel open orders for STORJ, JASMY and TT, while withdrawals will remain available until October 14.Bitget’s first change will affect Classic Account users on September 17. The exchange will stop allowing new positions in NEARUSD, AVAXUSD, ADAUSD, LINKUSD, DOGEUSD, SOLUSD, XRPUSD, ETHUSD and BTCUSD coin-margined perpetual contracts after 7:00 a.m.Trading in these contracts will end completely at 10:00 a.m. Bitget’s official announcement indicates that contracts under Unified Accounts will remain unaffected.The exchange will also delist the CAMP/USDT, RHEA/USDT, ORBS/USDT and TURBO/USDT spot pairs on Friday, September 18, at 1:00 p.m. Withdrawals will remain available until December 18 at 1:00 p.m.No major spot listing or high-profile token launch has been confirmed for this week. Therefore, delisting decisions and supply developments involving existing tokens will carry greater weight.Pi Network targets Protocol 27 upgradePi Network has set September 15 as the target date for upgrading its mainnet to Protocol 27. According to the project’s announcement, the update will introduce more flexible and secure authentication features for smart contracts.The team has not announced an exact activation time. The target date also depends on network readiness. Exchanges could temporarily suspend PI deposits and withdrawals during the upgrade.Ethereum developers will hold an All Core Developers Consensus call on September 17 at 5:00 p.m. Turkey time. The meeting will cover consensus-layer development and preparations for the Glamsterdam upgrade. However, the call itself does not represent a mainnet upgrade.Chainflip restart expected after exploitChainflip started the week with operations suspended following an exploit involving its USDT integration on TRON. The attacker abused a vulnerability in transaction memo processing to withdraw 736,442 USDT through six unauthorized payments.The project said its other vaults were unaffected and promised to compensate affected users. Incomplete user transactions worth approximately 115,654 USDT remain in the vault until the network restarts.Chainflip initially said the restart would not happen before Monday. However, it has not provided an exact time.According to the incident report, the project could release a new software version, compensation details and a technical review this week.No separate binding, high-impact DAO vote with a confirmed deadline appears on the calendar. Chainflip’s operational decisions and the CLARITY Act process represent the week’s main governance and regulatory developments.TRUMP and ZRO unlocks carry significant valueOfficial Trump will conduct the week’s largest token unlock by dollar value. A total of 28.7 million TRUMP will enter circulation on September 18. Based on the morning spot price, the tokens are worth approximately $57.1 million.The unlock represents about 2.9% of the total token supply. Its share of the circulating market capitalization is higher, increasing the risk of short-term dilution.LayerZero will unlock 25.71 million ZRO on September 20. The tokens are worth approximately $26.9 million at the current price and represent around 4.2% of the circulating supply.Bedrock will release 40.63 million BR on the same day. The unlock is worth approximately $15 million and equals nearly 18.7% of the circulating supply. This makes it one of the week’s most significant events in proportional terms.Arbitrum’s unlock of 92.65 million ARB will occur on September 16 at 4:00 p.m. Turkey time. The tokens currently have a combined value of around $12.7 million.Additional supply entering the market will include approximately $8.4 million in YZY, $5.4 million in KAITO, $3.6 million in STRK and $2.5 million in SEI. LISTA will also release tokens worth around $2.6 million on September 20.CoinShares results and two conferences on watchCoinShares will publish its financial results for the six months ended June 30 on September 14. Management’s conference call will begin at 3:30 p.m. Turkey time.Digital asset prices, fund flows and assets under management will be among the report’s main areas of interest.Bitcoin miner Bitdeer will also attend the H.C. Wainwright Global Investment Conference on September 14. Its presentation could provide updates on mining capacity, energy infrastructure and investments in artificial intelligence data centers.The European Blockchain Convention will take place in Barcelona on September 16–17. Its program focuses on institutional crypto adoption, tokenization, stablecoins, custody services and European regulation.ETHTokyo Week will begin on Saturday, September 19, and continue until September 27. The program will bring Ethereum developers, security researchers and Web3 projects together in Tokyo.This week’s 30-event crypto calendarSeptember 14: CoinShares publishes its first-half 2026 results.September 14: Bitdeer attends the H.C. Wainwright conference.September 14, 9:00 a.m.: Upbit and Bithumb end STORJ, JASMY and TT trading.September 14–15: Remaining sessions of the ETHTaipei program.September 15, 3:00 a.m.: Approximately $3.6 million STRK token unlock.September 15, 6:00 a.m.: Approximately $8.4 million YZY token unlock.September 15, 9:00 a.m.: UK labor market report.September 15, 3:00 p.m.: Approximately $2.5 million SEI token unlock.September 15: Target date for the Pi Network Protocol 27 mainnet upgrade.September 15: US Senate procedural vote on the CLARITY Act.September 16, 9:00 a.m.: UK consumer and producer inflation data for August.September 16, 3:30 p.m.: US retail sales for August.September 16, 3:30 p.m.: US import and export prices for August.September 16, 4:00 p.m.: Approximately $12.7 million ARB token unlock.September 16–17: European Blockchain Convention.September 16, 9:00 p.m.: Fed interest rate decision and economic projections.September 16, 9:30 p.m.: Fed chair’s press conference.September 17, 12:00 p.m.: Final eurozone inflation data for August.September 17, 3:30 p.m.: US weekly jobless claims.September 17, 3:30 p.m.: US housing starts and building permits for August.September 17, 2:00 p.m.: Bank of England interest rate decision.September 17, 5:00 p.m.: Ethereum All Core Developers Consensus call.September 17, 10:00 a.m.: Bitget closes nine coin-margined perpetual contracts.Morning of September 18: Bank of Japan interest rate decision, followed by a press conference at 9:30 a.m.September 18, 1:00 p.m.: Bitget delists CAMP, RHEA, ORBS and TURBO spot pairs.September 18: Approximately $57.1 million TRUMP token unlock.September 18, 4:15 p.m.: US industrial production and capacity utilization for August.September 19: ETHTokyo Week begins.September 20, 3:00 a.m.: Approximately $15 million BR token unlock.September 20: Approximately $26.9 million ZRO token unlock.The market’s direction may depend less on whether the Fed raises rates and more on the statement’s guidance for future meetings. Oil prices above $100, BOJ-driven movements in the yen and the CLARITY Act vote could also widen trading ranges across Bitcoin and altcoins.
Standard Chartered Predicts 460% Rally for DeFi Token
Standard Chartered has issued a bullish forecast for SKY, the native token of decentralized finance protocol Sky. The bank expects its price to reach $0.325 by 2028.The target implies an increase of around 460% from SKY’s current price of approximately $0.058. Standard Chartered linked this potential to the growing adoption of the USDS stablecoin.According to Geoff Kendrick, Standard Chartered’s global head of digital assets research, Sky could benefit from the expansion of onchain lending. Staking rewards could also increase the value distributed to token holders.The bank expects SKY to deliver a performance similar to Ethereum through 2028. Under this scenario, the token could outperform Bitcoin over the same period.Standard Chartered sets $0.325 target for SKYGeoff Kendrick compared Sky’s business model to that of a central bank. The protocol issues the USDS stablecoin and determines its borrowing conditions.Sky also generates interest income from borrowers. The protocol can distribute part of this revenue to SKY holders through its staking mechanism.Kendrick expects staking rewards to provide the largest contribution to SKY’s potential gains. Token buybacks will likely play a smaller role.Sky previously operated under the MakerDAO name. As part of its rebranding, the protocol began prioritizing USDS over DAI. It also started converting the MKR token into SKY.Standard Chartered believes wider USDS adoption could support the protocol’s revenue. Growing demand for onchain lending among traditional financial institutions could accelerate this expansion.How could USDS adoption affect the SKY price?Sky ranks among the largest stablecoin issuers behind Tether and Circle. The protocol also holds a strong position in the yield-bearing stablecoin market.According to DeFiLlama data, the total value locked in the sUSDS pool stands at approximately $4.5 billion. The pool currently offers an annual yield of around 3.6%.sUSDS allows users to earn returns by depositing their USDS holdings into the protocol. Further growth in this product could increase Sky’s revenue and staking rewards.The bank expects the global stablecoin market to reach $2 trillion by the end of 2028. However, the future share of yield-bearing stablecoins within this market remains uncertain.SKY could track Ethereum and outperform BitcoinAccording to Standard Chartered’s forecast, SKY could appreciate alongside the broader cryptocurrency market. The bank expects its performance to roughly track Ethereum.Standard Chartered previously set an $18,000 price target for Ethereum by 2028. Its Bitcoin target for the same period stands at $300,000.The SKY price rose approximately 2% from its daily low following the forecast. However, the token remains down around 14% over the past week. Trading volume increased by 10% over the last 24 hours. Open interest in SKY futures also approached $30 million.Standard Chartered’s forecast depends on several long-term assumptions. Demand for USDS, the development of onchain lending and regulatory conditions will determine whether SKY can reach the projected price.
Bitwise Decides to Close Its Dogecoin ETF
Crypto asset manager Bitwise has decided to close its spot Dogecoin ETF, BWOW. The fund will be liquidated after operating in the US market for nearly 10 months.BWOW’s final day of trading on the New York Stock Exchange is expected to be October 14. Investors will be able to sell their shares on the secondary market until the end of that trading session.The fund’s liquidation process will be completed on October 22. Investors who retain their shares until then will receive a cash payment.Weak investor demand for BWOW appears to be behind the decision. The fund generated approximately $3 million in daily trading volume when it launched in November 2025. However, it failed to approach that level again.Bitwise Dogecoin ETF trading will end on October 14According to an announcement from Bitwise, BWOW will trade for the final time on Wednesday, October 14. The fund’s shares will no longer be available for trading on the NYSE after that date.Under the liquidation plan, the value of the fund’s remaining assets will be calculated on October 21. Shareholders who retain their positions will receive cash payments corresponding to the net asset value of their shares on October 22.Investors will not need to take any action to receive the payment. However, the potential tax consequences of the liquidation may vary depending on each investor’s circumstances.Bitwise said it was optimizing its product lineup in response to changing investor needs. The company did not directly cite low trading volume in its announcement about the fund’s closure.BWOW volume declined after its first weekBWOW recorded approximately $3 million in daily trading volume during its launch week in November 2025. Initial interest quickly faded, and the fund failed to generate similar volume in the following months.Dogecoin ETFs have also delivered limited performance in terms of investor demand. According to SoSoValue data, these funds recorded approximately $318,000 in net inflows last month. The inflows reversed the modest outflows registered in July.The total trading volume of spot Dogecoin ETFs listed in the US remained at around $300 million. DOGE funds consequently fell considerably behind several altcoin ETFs.Hyperliquid ETFs generated approximately $2.1 billion in trading volume. Zcash funds reached $1.5 billion, while Chainlink funds recorded around $680 million.Dogecoin drops out of the top 10 cryptocurrenciesThe first Dogecoin ETF in the US launched in September 2025. Expectations of strong investor interest emerged before the launch of the spot funds. However, trading volume and fund flow data showed that this demand failed to materialize.Dogecoin was trading at approximately $0.084 at the time of writing. The cryptocurrency had a market capitalization of around $13 billion. DOGE dropped out of the top 10 cryptocurrencies by market capitalization amid the rise of assets such as Hyperliquid and Zcash.
Three Major Exchanges Announce Delistings: 2 Altcoins Affected
Cryptocurrency exchanges Binance, Upbit and Bithumb have announced new delisting decisions. Support for Pax Dollar (USDP) and Ravencoin (RVN) will end as part of the changes.Binance will remove all USDP spot trading pairs on September 24. South Korean exchanges Upbit and Bithumb will halt RVN trading on October 12.As a result, RVN will lose support on two of South Korea’s largest cryptocurrency exchanges on the same day. The exchanges warned users about potential sharp price movements as the delisting dates approach.Binance will halt USDP tradingFollowing its regular review process, Binance decided to remove Pax Dollar from its platform. USDP spot trading will end on September 24 at 03:00 UTC.Any open spot orders will be automatically canceled after trading ends. The exchange will also gradually remove USDP support from its other services.Binance Margin will delist USDP on September 11 at 06:00 UTC. Simple Earn support will end on September 17.Positions remaining in Simple Earn will be automatically closed. The assets will then be transferred to users’ spot accounts.USDP deposits made after September 25 at 03:00 UTC will not be credited. Users will be able to withdraw their assets until November 24 at 03:00 UTC.Binance may convert any remaining USDP balances into other stablecoins after November 25. However, the exchange said that such a conversion is not guaranteed.The delisting does not mean USDP has lost its dollar backing. Issued by Paxos, the stablecoin aims to maintain a 1:1 value against the US dollar.Upbit and Bithumb will delist RVNUpbit and Bithumb announced simultaneous delisting decisions for Ravencoin. Both exchanges will halt RVN trading on October 12 at 06:00 UTC.According to Bithumb’s announcement, the decision followed a security incident involving the Ravencoin network. The exchange assessed the measures taken by the project team, including compensation for the damage.The review concluded that RVN no longer met the requirements for continued trading support. Both exchanges had previously designated Ravencoin as an asset subject to an investment warning.Any open RVN orders will be automatically canceled when trading ends. Support for trading through the exchanges’ APIs will also stop at the same time.Bithumb will end RVN withdrawal support on November 11 at 06:00 UTC. Users should transfer their assets to another platform or a personal wallet before the deadline.The joint decision by Upbit and Bithumb could put pressure on RVN liquidity. The South Korean market accounts for a significant share of global trading activity in many altcoins.Binance’s USDP decision will also reduce the stablecoin’s exchange accessibility. The development could further concentrate stablecoin trading volume around larger alternatives such as USDT and USDC.
Hunter Biden’s Meme Coin Made and Lost Fortunes Within Minutes
Hunter Biden-linked meme coin LAPTOP experienced extreme volatility during its first trading hours on Base. The token delivered million-dollar gains to some investors while leaving others with heavy losses.LAPTOP climbed above $200 shortly after trading began. However, rapid selling pressure soon pushed the price below $15.One investor who bought near the peak lost approximately $197,000. Meanwhile, another trader made more than $1 million within minutes.The token’s fully diluted valuation exceeded $300 billion at its peak. However, low liquidity meant this figure did not accurately reflect the market’s real depth.LAPTOP investment generated $1 million within minutesBlockchain analytics platform Lookonchain shared the transactions of the profitable trader. The investor spent 100 ETH to purchase LAPTOP.At the time, the 100 ETH was worth approximately $249,800. The investor used this amount to buy 9,124 LAPTOP tokens.The trader then sold 8,480 tokens as the price climbed. The sale generated 472 ETH, worth approximately $1.18 million.The investor also retained 644 LAPTOP tokens in the wallet. These remaining tokens were worth approximately $110,000 when Lookonchain published its findings.Consequently, the trader’s realized and unrealized profit exceeded $1 million. However, the value of the remaining tokens may change rapidly amid continued volatility.Investor who bought LAPTOP near the peak lost 98%Another investor who followed the rally suffered a significant loss. According to Lookonchain, the trader had previously withdrawn $250,000 from Binance. The investor later spent approximately $200,000 to purchase 919 LAPTOP tokens. The average purchase price stood at $218 per token.However, LAPTOP plunged almost immediately after the purchase. The position’s value fell from approximately $200,000 to around $3,000.As a result, the investor lost more than 98% within minutes. The loss reached approximately $197,000 in monetary terms.The two transactions highlighted the risks associated with low-liquidity meme coin markets. The same token created a fortune for one investor while nearly wiping out another’s capital.LAPTOP valuation collapsed from $300 billionLAPTOP’s volatility extended beyond individual transactions. Lookonchain, citing GMGN data, highlighted the collapse in the token’s fully diluted valuation.The fully diluted valuation exceeded $300 billion during the first 40 minutes. However, the figure subsequently plunged to $4.3 billion.Meanwhile, total trading volume stood at only around $6.8 million. Therefore, the $300 billion valuation lacked strong and deep market liquidity.For meme coins, the latest trading price is multiplied by the total token supply. Even a few transactions within a thin market can produce extremely high valuations.Therefore, LAPTOP’s peak did not mean investors could sell their tokens at the same price. Rapid selling can push both the price and apparent valuation sharply lower.What is Hunter Biden’s LAPTOP token?LAPTOP is a meme coin project founded by Hunter Biden, the son of former US President Joe Biden. The token references the laptop controversy that dominated American political debate for years.The project operates as an ERC-20 token on the Base network. According to market data, the total supply stands at 1 billion LAPTOP.The project released 35% of the total supply during the token generation event. The remaining tokens are subject to lock-up and vesting periods.The project allocated 20% of the supply to community distributions. Some wallets that suffered losses from the TRUMP meme coin were also expected to qualify.Meanwhile, the founders received an allocation equal to 30% of the total supply. These tokens remain subject to lock-up and gradual vesting conditions.LAPTOP provides no revenue rights or financial returns. Its price largely depends on market attention, liquidity and speculative demand.
US Banking Giant Tests Its Own Stablecoin
U.S. Bank, one of the largest commercial banks in the United States, has reached a major milestone in its stablecoin initiative. The bank completed its first live cross-border payment using USBDC, its proprietary U.S. dollar-backed stablecoin.The transaction took place between U.S. Bank entities in North America and Europe. The bank used the Stellar blockchain to transfer USBDC.The pilot demonstrated the bank’s ability to use its stablecoin in a live payment transaction. However, USBDC is not yet available to customers and has not been launched publicly.U.S. Bank completes live payment with USBDCAccording to an announcement from U.S. Bank, the pilot tested several stages of the bank’s digital asset infrastructure. These included minting, transferring and subsequently redeeming USBDC.The bank also tested control features such as freezing and clawing back tokens. These functions could help bring traditional banking compliance and risk management processes onto the blockchain.USBDC was developed as a private stablecoin pegged to the U.S. dollar. U.S. Bank did not provide detailed information about the token’s reserves or total supply.During the live transaction, USBDC moved between U.S. Bank entities in North America and Europe. The pilot therefore tested the use of blockchain technology for cross-border corporate payments.USBDC operates on the Stellar networkU.S. Bank selected the Stellar network for the stablecoin transaction. Stellar is among the blockchains designed for cross-border transfers and tokenized asset transactions.The bank first announced in November 2025 that it was testing custom stablecoin issuance on Stellar. U.S. Bank launched the project in cooperation with the Stellar Development Foundation and consulting firm PwC.The latest pilot shows that the project has progressed from a controlled test environment to a live transaction. U.S. Bank also validated its internally developed Digital Asset Platform during the process.The platform connects blockchain networks to the bank’s existing financial and operational systems. It also integrates compliance, risk management and internal control processes into digital asset transactions.How could U.S. Bank use its stablecoin?U.S. Bank is evaluating several institutional use cases for USBDC. Cross-border treasury operations and global cash management are among its main areas of interest.The bank will also explore using the stablecoin for liquidity management and collateral transfers. Blockchain-based transactions can operate outside the working hours of traditional financial systems.This structure could help multinational companies move cash more quickly between different markets. Stablecoins may also reduce the number of intermediaries involved in payment and settlement processes.U.S. Bank Chairman and CEO Gunjan Kedia said the live pilot demonstrated the bank’s ability to accelerate global cash management. Kedia added that the project supports U.S. Bank’s efforts to strengthen its money movement capabilities.No launch date announced for USBDCU.S. Bank has not disclosed when USBDC could become available to customers. The bank also provided no timetable for a broader commercial launch.The development therefore represents an advanced live pilot rather than a public market launch. It also remains unclear whether USBDC will eventually trade on cryptocurrency exchanges.U.S. Bank currently appears focused on using USBDC for institutional payment processes rather than offering it to retail users. Its first potential applications could include treasury management, liquidity transfers and collateral movement.The development comes as traditional financial institutions show growing interest in the stablecoin market. A group of 21 financial institutions, including Bank of America, Citi, Goldman Sachs and UBS, is also preparing a shared U.S. dollar stablecoin.The consortium plans to launch its stablecoin in the first half of 2027. U.S. Bank’s live USBDC transaction shows that major banks have already started testing their own blockchain-based payment infrastructure.
Binance Announces New Meme Coin Listing as Price Rises
Binance has announced the spot market listing of BNB Chain-based meme coin 牛来 (牛来), Niu Lai. The token will become available for trading through three pairs on September 9 at 2:30 p.m. UTC.The world’s largest cryptocurrency exchange will open trading for the 牛来/USDT, 牛来/USDC and 牛来/TRY pairs. Price activity accelerated following the listing announcement.The price of 牛来 has increased by more than 40% over the past 24 hours. Its daily trading volume surpassed $30 million, while its market capitalization reached approximately $110 million. Binance to launch 牛来 trading todayAccording to Binance’s official announcement, spot trading will begin on September 9 at 2:30 p.m. UTC. Users can deposit their 牛来 tokens into Binance accounts ahead of the listing.Withdrawals are scheduled to open on September 10 at 2:30 p.m. UTC. Binance noted that the withdrawal opening time is an estimate and advised users to check the withdrawal page for the latest status.The exchange charged the project no BNB listing fee. 牛来 operates on BNB Smart Chain. The official smart contract address shared by Binance is:0xbeea1d618e533a387d941f58a7d4c9b7bd377777The TRY trading pair will only be available to users with verified Binance TR accounts. Spot Algo Orders will also become available when trading begins.牛来 moves from Binance Alpha to the spot market牛来 is already available through Binance Alpha. However, the token will be removed from Binance Alpha once spot trading starts.Users will be able to transfer their tokens from Binance Alpha accounts to spot accounts 15 minutes before trading opens. Transactions conducted through Alpha after the listing will no longer count toward Binance Alpha Points.The exchange said it would transfer remaining 牛来 balances from users’ Alpha accounts to their spot accounts within 24 hours. Users will still be able to view their balances in their Alpha accounts during this process.Binance Alpha serves as a selection pool for early-stage projects that could later secure spot listings. Once a token moves to the Binance spot market, it is no longer featured in the Alpha section.Binance applies Seed Tag to 牛来Binance will apply the Seed Tag to 牛来. This label identifies relatively early-stage projects that may experience greater price volatility.Users who want to trade tokens carrying the Seed Tag must accept specific risk conditions. They must also complete the relevant risk awareness quiz on the Binance Spot or Margin platform every 90 days.Binance describes 牛来 as a meme token created on BNB Chain. The exchange warned that the project carries higher-than-normal risks because it is relatively new.Trading volume and price activity increased significantly following the announcement. However, limited liquidity and strong speculative demand could cause sharp price movements before and after the listing.
Wall Street Access to Zcash Expands as ZEC Hits 10-Year High
Zcash is back in focus following a new development that expands access for institutional investors. Options trading for Grayscale’s Zcash ETF, ZCSH, began on September 8.The development came shortly after a strong rally in ZEC. Zcash climbed to $1,249.28 on September 6, reaching its highest level since 2016.ZEC later pulled back from the peak. Even so, the token has gained more than 30% over the past week, making it one of the strongest-performing major crypto assets.Options trading begins for Grayscale Zcash ETFGrayscale announced on September 8 that options trading for ZCSH had started. Investors are now able to gain exposure to the Zcash-linked product through more than just ETF shares.The new structure allows traders to use call and put options based on the price of ZCSH. These instruments can support different trading strategies and help investors hedge existing positions.Options trading also broadens Zcash’s presence in traditional financial markets. It creates another way for professional investors and institutions that use derivatives to gain exposure to ZEC.Grayscale launched ZCSH on NYSE Arca on August 25. The company describes the product as the world’s first exchange-traded product offering spot exposure to ZEC.ZCSH attracts more than $34 million in inflowsFund flows accelerated after the Grayscale Zcash Trust was converted into an ETF structure. According to calculations by The Block based on Grayscale data, ZCSH recorded at least $34.4 million in net inflows through September 4.The fund’s strongest day came on September 2. ZCSH attracted approximately $12.6 million in fresh capital on that day alone.According to Grayscale’s latest available figures, assets under management reached $463.2 million as of September 4. ZCSH held approximately 444,608 ZEC.The number of ZCSH shares outstanding stood at roughly 5.55 million. The fund carries an annual management fee of 2.50%.However, the $463 million in assets under management does not represent new capital flowing directly into the ETF. ZCSH was created through the conversion of the previously traded Grayscale Zcash Trust.The sharp increase in ZEC’s price also raised the dollar value of the fund’s existing holdings. For that reason, assets under management and net ETF inflows need to be evaluated separately.ZEC reaches its highest level since 2016As interest in institutional investment products increased, ZEC also posted a sharp price rally. The token climbed as high as $1,249.28 on September 6, marking its highest level in nearly 10 years.The move did not represent a new all-time high for Zcash. Market data shows that ZEC’s record high remains $3,191.93, reached on October 28, 2016, when the token was still in the early stages of its supply distribution.Another important milestone in the latest rally came on September 4. ZEC moved above the $1,000 mark, while its monthly gain reached approximately 94%. During the same period, ETF inflows accelerated and activity across the Zcash mining network increased. The network’s hash rate briefly climbed above 30 GSol/s, compared with roughly 25 GSol/s in late August.Still, it is difficult to attribute ZEC’s rally entirely to ETF demand. Increased activity in derivatives markets, short-position liquidations and growing interest in privacy-focused cryptocurrencies also contributed to the move.With options trading now available for ZCSH, Zcash has taken another step toward broader access within traditional financial markets.
South Korean Exchanges List 3 Altcoins: Prices React
Major South Korean crypto exchanges Bithumb and Upbit announced new listings for three altcoins. Cluster Protocol (CP), Hemi (HEMI), and Useless (USELESS) saw increased price activity following the announcements.Bithumb said it would open CP trading against the South Korean won. Upbit, meanwhile, will add BTC and USDT trading pairs for HEMI and USELESS. The exchange had also announced KRW, BTC, and USDT support for CP earlier in the day.All three tokens moved onto traders’ radar after the listings were announced. CP, in particular, posted a double-digit gain in the first hours after the news.Bithumb adds CP to its KRW marketAccording to Bithumb’s September 8 announcement, Cluster Protocol will be listed with the CP/KRW trading pair. Trading was scheduled to begin at 09:30 Türkiye time, while deposits are supported only through the Base network.Bithumb set CP’s reference price at 26.92 won. Buy orders were restricted for the first five minutes after trading began, while only limit orders were allowed for roughly the first two hours.Upbit also decided to add CP to its KRW, BTC, and USDT markets on the same day. This means the token received listing support from South Korea’s two largest crypto exchanges within a single day.The listing announcements triggered a sharp move in CP’s price. Following the initial news, the token climbed to around $0.0265, gaining more than 20%.However, CP failed to hold all of those gains. According to CoinMarketCap data, the token was trading at around $0.0195 at the time of writing, up roughly 5% over the past 24 hours. Daily trading volume also climbed above $100 million.Cluster Protocol is being developed as a decentralized artificial intelligence infrastructure built on Base. The project brings access to hundreds of AI models, tokenized datasets, and GPU computing resources together within a single infrastructure.The CP token is planned to be used for staking and, at a later stage, protocol governance.Upbit to launch HEMI and USELESS tradingUpbit’s second listing announcement covered Hemi and Useless. The exchange said it would support BTC and USDT trading pairs for both tokens.HEMI and USELESS trading was scheduled to begin on September 8 at 15:30 Türkiye time. Upbit did not announce KRW trading pairs for either token.HEMI moved higher following the announcement. According to CoinMarketCap data, the token was trading at around $0.0092 at the time of writing, up 7.1% over the past 24 hours. HEMI’s daily trading volume stood at roughly $77 million.Hemi is a modular Layer-2 network designed to improve interoperability between Bitcoin and Ethereum. The project aims to allow both blockchains to function as parts of a connected network rather than separate ecosystems.Its Hemi Virtual Machine integrates a Bitcoin node into an Ethereum Virtual Machine environment. This allows developers to build EVM-based applications that can access Bitcoin data.USELESS price reacts to listing newsUSELESS was another token that drew attention during the day. Before Upbit’s announcement, Bithumb had also added the token to its KRW market.USELESS trading on Bithumb began with a reference price of 309 won. The exchange said deposits and withdrawals are supported only through the Solana network.USELESS was trading at around $0.2508 at the time of writing. The token was up 4.14% over the past 24 hours, while its seven-day gain exceeded 153%. The price traded between $0.2177 and $0.2795 over the past 24 hours, showing that volatility increased significantly alongside the listing announcements.USELESS is a community-driven meme coin built on Solana. The project stands out by openly embracing the absence of a clear technical utility and making that approach part of its brand identity.The same-day listings from South Korean exchanges have put trading volumes for CP, HEMI, and USELESS under closer watch. Volatility may increase again once HEMI and USELESS trading begins on Upbit.
What is Power Protocol (POWER)?
One of the biggest challenges in Web3 gaming is that each game tends to operate with its own token and closed economy. Power Protocol (POWER) is trying to bring this fragmented structure together under a shared economic infrastructure. Starting with Fableborne, the ecosystem aims to connect games, consumer applications, developers, and new Web3 projects around POWER.Definition and Origins of Power ProtocolPower Protocol is a shared infrastructure and economic layer developed for blockchain-based entertainment applications. The project focuses particularly on reducing the need for games to independently build features such as user rewards, staking, in-app economies, and on-chain value transfer.POWER is the token at the center of this structure. The project’s whitepaper divides the token into three core roles: a gaming token, an infrastructure token, and a source of ecosystem value for Power Labs. Fableborne stands out as the first major application to use POWER. For this reason, Power Protocol is focused on more than launching another GameFi token. Its broader goal is to connect different games and consumer applications to the same economic infrastructure.The system plans to provide developers with tools for reward mechanisms, staking, user progression, and bringing in-app activity on-chain. This is intended to concentrate economic activity generated across different products around POWER.The first major use case for Power Protocol is Fableborne. Developed by Pixion Games, the mobile-focused action RPG combines base-building mechanics with asynchronous PvP. Pixion Games announced in September 2025 that POWER would be used in Fableborne and in other games the studio develops in the future.Which networks does Power Protocol operate on?Power Protocol is not tied to a single blockchain network. POWER token contracts are available on Ethereum, BNB Smart Chain, and Ronin.According to the official tokenomics documentation, POWER uses the contract address 0x9dC44ae5BE187ECA9e2A67e33f27A4c91cEA1223 on Ethereum and BNB Smart Chain. On Ronin, the token contract address is 0x394cEF8bDd737EE24DBc9f43d0d5D2ab83136054.This multi-chain structure is closely connected to the project’s gaming-focused approach. Ethereum provides access to a broad Web3 ecosystem, while BNB Smart Chain offers lower transaction costs and a large user base.Ronin, meanwhile, is known for infrastructure developed specifically for blockchain games. The connection between Fableborne’s NFT and gaming mechanics and Ronin also makes POWER’s presence on the network significant.POWER does not replace the native gas tokens of networks such as Ethereum or BNB Chain. Its main role is to connect applications, reward mechanisms, and economic activity within Power Protocol.A shared infrastructure for blockchain entertainmentThe core idea behind Power Protocol is to reduce the fragmented nature of Web3 gaming economies. Many blockchain games build their own token, reward system, and user economy from scratch.This model can create technical and economic challenges, especially for smaller developers. Token distribution, user rewards, liquidity, staking, in-app spending, and long-term economic management all need to be planned at the same time.Power Protocol aims to address this by creating a shared economic layer. The project’s documentation highlights use cases including managing live-ops economies, creating token-based incentives, onboarding users who pay through traditional methods, and directing a portion of application revenue into an on-chain economy.The project’s scope is also gradually expanding beyond gaming. The latest whitepaper includes user acquisition and advertising technology among the potential use cases for Power Protocol.The system is working on rewarding behaviors such as social sharing, referrals, continued application usage, in-game achievements, and content creation. The project describes this model as redirecting part of traditional advertising budgets directly toward user incentives.A significant portion of these goals still depends on the project’s development roadmap. It is therefore important to distinguish between long-term use cases described in the whitepaper and features that are already active today.History of Power Protocol: Key MilestonesPixion Games holds an important place in the development of Power Protocol. The London-based gaming studio adopted an approach that expands the gaming economy created around Fableborne into a broader Web3 infrastructure.Pixion Games publicly announced its partnership with Power Protocol on September 25, 2025. The announcement stated that POWER would be integrated into Fableborne and future games developed by the studio.Fableborne therefore became one of the first real use cases for Power Protocol. POWER was designed to connect with webshop spending, staking mechanisms, certain rewards, and on-chain gaming features.According to the Fableborne litepaper, POWER is also planned to serve as the ecosystem currency for future Pixion games. Third-party games are expected to be able to connect to the protocol as well.Power Protocol’s official roadmap identified the fourth quarter of 2025 as the period when the protocol and POWER liquidity would launch. Initial staking infrastructure, token utility mechanisms, and partner trials were also planned to go live during this period.The 2026 roadmap sets out a broader objective. The first quarter focused on expanding developer tools and reward infrastructure, the second quarter on onboarding new projects through Power Labs, and the third quarter on expanding into consumer applications outside gaming.The roadmap is described as a living document. For this reason, the listed dates should not be treated as guaranteed delivery deadlines.POWER token launch and listingsOne of the key dates in POWER’s market debut was December 5, 2025. Bitget listed the token in its Innovation and GameFi categories with the POWER/USDT trading pair.According to Bitget’s announcement, trading began on December 5, 2025, at 12:00 UTC. The exchange also published POWER’s Ethereum contract address in the listing announcement.MEXC opened POWER/USDT trading in its Innovation Zone on the same day. The exchange also launched a campaign offering POWER rewards alongside the listing.The token later expanded to additional trading platforms. According to CoinGecko data, POWER trading pairs are available on Bitget, MEXC, LBank, BingX, and several decentralized exchanges. PancakeSwap and Katana on Ronin are also among the DEX markets tracked for the token.KuCoin added POWER to its KuCoin Alpha section on February 11, 2026. Trading was offered through the POWER/USDT pair on BNB Smart Chain. An Alpha listing is not the same as a standard listing on KuCoin’s main spot market.On Binance, POWER also became one of the assets available through Binance Alpha. Binance Wallet ran a two-stage Alpha trading campaign for POWER in August 2026.It is also important to note that the POWER ticker is used by other crypto projects. For example, Powerloom also uses POWER as its token ticker. Trading based only on the ticker without checking the project name and contract address can increase the risk of interacting with the wrong token.Current status of Power ProtocolAs of September 2026, Power Protocol continues to appear as an actively developed ecosystem. Fableborne remains the project’s most prominent product, while Power Labs and third-party application integrations form part of its broader expansion strategy.According to CoinGecko data from September 8, 2026, POWER is trading at around $0.087. Its circulating supply is approximately 210 million POWER, with a market capitalization of around $18.3 million. The maximum supply is listed as 1 billion POWER.The token’s price history has been highly volatile. Market data shows that POWER reached an all-time high of $2.46 on March 2, 2026. It later fell to around $0.056 in June 2026. At the time of writing, the POWER coin price is around $0.08.This shows that POWER is currently trading far below its peak. During the sharp decline in March, various claims surrounding large token transfers also circulated in the market. However, descriptions such as “team-linked wallet” found in third-party sources should not be treated as independently or officially verified facts.Development on the project continues. Recent documentation shows that Power Protocol is expanding its scope from gaming infrastructure into social incentives, user acquisition, and AI-powered advertising technologies.POWER’s future level of utility will depend heavily on whether applications beyond Fableborne join the ecosystem. The protocol’s shared economy thesis can only be tested on a broader scale if different products generate real economic activity around POWER.How Does the POWER Token Work?POWER’s first major use case appears on the gaming side. Within Fableborne, POWER acts as a shared economic asset for various on-chain features.According to Fableborne documentation, the token can be used for webshop purchases. POWER is also connected to gaming systems such as Kingdom staking, Merge-to-Mint, POWER Chest, and Key. Players can earn POWER through certain premium events.The staking model is designed to be more gaming-focused than a traditional token-locking mechanism. Its first staking integration works together with the Fableborne Kingdoms NFT collection.Users can stake POWER through Kingdom NFTs to participate in seasonal rewards. The official whitepaper states that 4% of the total POWER supply is allocated to Kingdom staking rewards.The token’s second role is connected to the broader Power Protocol infrastructure. POWER is intended to serve as a common unit for rewards and economic activity across different applications.Its third role appears through Power Labs. Power Labs is an incubation system created to support projects focused on gaming, AI, blockchain, and consumer applications.Projects participating in the program are expected to establish a connection with Power Protocol. This connection may take the form of POWER-denominated transactions, token buybacks, token swaps, or other economic mechanisms.Power Protocol is also developing a value-accrual model. Some in-app revenue generated by Fableborne may be directed toward POWER buybacks, while certain spending can be routed to the treasury or used for token burns.A portion of fees generated through NFT transactions is also planned to flow into the POWER economy. These mechanisms are part of the protocol’s design, although their real economic impact depends directly on user activity and transaction volume.POWER supply, distribution, and token economyPOWER has a maximum supply of 1 billion tokens. The project’s official token economy documentation divides this supply into six main categories.The largest allocation, 37.2%, goes to community rewards and emissions. The ecosystem fund receives 28% of the total supply. Investors are allocated 16.15% of the supply. The team receives 9.23%, liquidity receives 5%, and advisors receive 4.42%.Not all tokens enter circulation from the first day. Of the supply allocated to community rewards, 13.2% was unlocked at the Token Generation Event, while the remaining distribution is scheduled over a 48-month period.Team and advisor tokens had no initial unlock at the TGE. These allocations are subject to a 12-month cliff followed by a 36-month vesting period. Investor allocations have cliff periods ranging from four to 12 months. Vesting durations vary between six and 36 months depending on the investor group.The 5% allocated to liquidity was unlocked at the TGE. Meanwhile, 2.8% of the ecosystem fund became accessible initially, with the remainder scheduled to unlock over 36 months.This distribution is an important factor to monitor when evaluating POWER’s market structure. As of September 2026, roughly 210 million of the 1 billion maximum supply is in circulation. Additional tokens may therefore enter the market as vesting schedules progress.An increase in supply does not automatically mean the price will decline. However, token unlocks can create additional selling pressure if demand does not grow at a similar pace.The project’s model includes buybacks, staking, and token-burning mechanisms to counterbalance this dynamic. The whitepaper aims to return economic activity generated by different games and applications to the ecosystem through POWER buybacks, treasury growth, and expanded token utility.Network, transactions, and security structurePOWER does not operate on its own independent Layer-1 blockchain. The token uses the infrastructure of existing networks including Ethereum, BNB Smart Chain, and Ronin.This means its security model also depends on the underlying networks. Transactions on Ethereum rely on Ethereum’s security system, BNB Smart Chain transactions use BNB Chain infrastructure, and Ronin transactions depend on the Ronin network.While a multi-chain structure can improve accessibility, it can also create additional risks. Users need to check which network they are using when sending the token.Selecting the wrong network, transferring to an unsupported address, or interacting with a fake contract can result in loss of funds. This is particularly important for tokens such as POWER, where multiple crypto projects use the same ticker.Power Protocol also plans to develop APIs and infrastructure tools for application developers. Its roadmap includes reward infrastructure, cross-application identity systems, and tools designed to connect different applications to shared economic systems.For this reason, the protocol’s technical success depends on more than token contract security. The usability of its developer tools, third-party integrations, and the ability of applications to attract active users will also play an important role.Why Is Power Protocol Important?The sustainability of token economies has long been a major challenge in the blockchain gaming sector. Models where player rewards are funded through high token emissions can face economic pressure when the flow of new users slows.Power Protocol is trying to address this through a broader shared economy. Instead of each game creating its own closed economy, the project aims to bring certain economic mechanisms together around POWER.In theory, this approach could reduce the need for new projects to build token economies from scratch. Developers may be able to use Power Protocol infrastructure for rewards, staking, user progression, and on-chain transactions.The project also aims to allow Web2 users to participate without directly dealing with blockchain technology. Fableborne’s approach of keeping on-chain features largely in the background for players is one example of this strategy.More recent Power Protocol technical documentation extends this model into user acquisition. The project aims to reward behaviors such as social sharing, referrals, and in-app engagement, while redirecting part of advertising spending toward users.This model has not yet been proven at scale. Its success will depend on applications beyond Fableborne adopting the protocol and maintaining economic activity over time.Fableborne, Power Labs, and their role in the ecosystemThe Power Protocol ecosystem has four main components: the protocol infrastructure, Power Labs, the POWER token, and Fableborne. The project’s whitepaper positions all four as parts of the same economic structure.Fableborne acts as the starting point. It gives the protocol an environment where concepts such as user rewards and gaming economies can be tested with a real product.Power Labs represents a second growth channel. The incubator aims to add new products to Power Protocol by supporting both early-stage projects and teams that have already acquired users.The project’s long-term vision is not limited to gaming. Global intellectual property projects, AI-based applications, and broader consumer products are also among the areas being targeted.The key metric here will be the number of real integrations. Having several planned use cases does not automatically mean those areas will generate users or revenue.Fableborne remains the most concrete use case within the current Power Protocol structure. Successfully adding third-party projects could strengthen POWER’s thesis as a shared ecosystem token rather than one tied primarily to a single game.Risks and volatility of POWERPOWER is a relatively new crypto asset with high volatility. The difference between the peak it reached in March 2026 and its subsequent price action clearly reflects this risk.According to CoinGecko data, POWER’s all-time high is $2.46. The token later fell to around $0.056 within a matter of months.Its supply structure is another factor worth monitoring. Only part of the maximum 1 billion-token supply is currently in circulation, meaning additional POWER will enter the market as vesting schedules progress.Unlocks involving team, advisor, and investor allocations are particularly important. Users should consider not only total supply, but also circulating supply and future unlock schedules.The project also carries product risk. POWER’s long-term utility depends on Fableborne’s performance, the addition of new games, and whether applications coming through Power Labs can attract users.Another risk comes from the token’s presence across multiple networks. Bridging, contract interactions, and network selection can increase the possibility of technical mistakes for users.Liquidity should also be considered. POWER markets may offer less depth compared with larger crypto assets. During periods of lower liquidity, large buy or sell orders can have a stronger impact on price.Power Protocol Community and EcosystemPower Protocol has a close relationship with Pixion Games on the development side. The team section of the project’s official whitepaper directly highlights members of the Pixion Games team.Kam Punia is the founder and CEO of Pixion Games. Punia previously worked at Konami and has extensive experience in the gaming industry.The team also includes Director of Operations Tamara Slavskaya, Technical Director Sëmen Samusev, and Product Director Maria Gillies. Pixion states that its team includes professionals with experience at companies such as Konami, Blizzard, Riot, King, Sony, Ubisoft, and NCSOFT.An important distinction should be made here. Official documentation clearly describes the relationship between Pixion Games and Power Protocol and lists Kam Punia as Founder & CEO in the team section. However, this title is used in the context of Pixion Games, so Power Protocol should not automatically be described as a completely separate corporate entity with the same founder structure.Fableborne is the flagship product of this team. The mobile-focused game serves as the first major environment where Power Protocol’s economic mechanisms are being tested with real users.Community, staking, and ecosystem participationPower Protocol builds much of its community participation around gaming and reward mechanisms. Fableborne players can earn POWER, use the token for certain in-game products, and participate in staking systems.The Kingdom NFT system is an important example of this approach. Users can stake POWER through specific NFTs and gain access to seasonal rewards.Community rewards also represent a significant portion of the token supply. A total of 37.2% of the POWER supply is allocated to community rewards and emissions.However, the official documentation does not describe a traditional DAO model that gives POWER holders broad protocol governance rights. For this reason, it would not currently be accurate to describe POWER directly as a governance token.The token instead functions primarily through gaming, staking, infrastructure, and the wider ecosystem economy. This structure could change if governance mechanisms are expanded in the future.Partners, games, and new use casesPixion Games is Power Protocol’s most important partner. Fableborne is the ecosystem’s first major product, and future Pixion games are also expected to support POWER.Project information lists Delphi Digital, Spartan Group, Ronin, L1D, Arete Capital, Animoca Brands, and Yield Guild Games among the investors and organizations supporting the Power Protocol ecosystem. Power Labs is used to bring new projects into the ecosystem. The program aims to support teams building products in gaming, blockchain, AI, and consumer technology.Frequently Asked Questions (FAQ)Below are some of the most frequently asked questions about Power Protocol:What is Power Protocol and when was it launched?: Power Protocol is a project that aims to build a shared blockchain economy and infrastructure for games and consumer applications. The partnership between Pixion Games and Power Protocol was announced in September 2025, while POWER’s first major exchange trading began on Bitget and MEXC on December 5, 2025.What is the POWER token used for?: POWER is used as the shared economic token within Fableborne and the wider Power Protocol ecosystem. Its main use cases include in-game spending, staking, rewards, and protocol infrastructure. Projects participating in Power Labs are also expected to connect with the POWER economy through different mechanisms.Which network does Power Protocol operate on?: POWER is available on Ethereum, BNB Smart Chain, and Ronin. Ethereum and BNB Smart Chain use the same EVM contract address, while Ronin has a separate contract.Who founded Power Protocol?: Power Protocol is being developed in close connection with Pixion Games. The official whitepaper lists Pixion Games founder and CEO Kam Punia as a leading figure in the team section. However, the official documentation does not provide detailed information about a completely separate corporate founder structure for Power Protocol outside Pixion.What is the POWER supply?: POWER has a maximum supply of 1 billion tokens. According to CoinGecko data from September 8, 2026, around 210 million POWER are in circulation. A total of 37.2% of the supply is allocated to community rewards and emissions, while 28% is reserved for the ecosystem fund.Is Power Protocol suitable for investment?: This depends on the investor’s individual risk profile and research. POWER is a relatively new token with a low market capitalization and a history of sharp price movements. Future token unlocks, Fableborne’s performance, new application integrations, and liquidity levels are among the factors that should be considered when evaluating the asset.Follow the JR Kripto Guide series to keep up with new developments around POWER and the Power Protocol ecosystem, from Fableborne to Power Labs.
What Is Squid (QUID)?
Moving assets between different networks is still one of the more complicated processes in crypto. Squid aims to simplify this experience through its cross-chain infrastructure, bringing multiple steps closer to a single transaction flow. The protocol has been operating since 2023 and entered a new phase in 2026 with the launch of the QUID token, linking staking, governance and ecosystem participation to its token economy.Squid: Definition and OriginsQUID is the native token of Squid, a platform built for cross-chain transactions. The distinction between the project and token names is important. The project is called Squid, while its token uses the QUID ticker. QUID is unrelated to the Squid Game (SQUID) token that previously attracted attention in the crypto market.Squid essentially connects tokens across different blockchain networks. When a user wants to convert an asset on one network into a different asset on another, Squid’s routing infrastructure brings the necessary bridge and swap steps together.According to official project data, the platform has expanded to support more than 100 blockchains, over 130 decentralized exchanges and more than 20,000 tokens. Squid also says it has served more than 1 million users and has been integrated into over 1,000 applications. QUID, however, was not designed as a mandatory gas token for completing these cross-chain transactions. Its main role is to support participation in the Squid ecosystem. Staking, governance and potential future product features are among the elements connected to the token.Which networks does Squid operate on?It is important to distinguish between the networks supported by Squid and the blockchain on which the QUID token itself exists. Squid is a multichain infrastructure that routes transactions across numerous blockchain networks. QUID, meanwhile, was issued as an ERC-20 token on Base.Squid’s supported networks are not limited to a single ecosystem. In addition to Ethereum and other EVM-compatible networks, the platform works to connect the Cosmos ecosystem, XRPL, Hedera and other blockchain architectures. Squid’s newer infrastructure focuses on expanding access between networks with different smart contract environments.Axelar played a major role in the project’s original architecture. In Squid’s earlier cross-chain transactions, Axelar General Message Passing technology served as one of the main coordination layers.This structure has changed over time. With Squid Intents, the project developed its own TEE-based execution and settlement infrastructure. Axelar remains one of the components that can be used, but it no longer serves as the primary execution layer for every Squid transaction. Depending on the route, the system can use Axelar, Circle CCTP, IBC, Chainflip and other liquidity sources.Why was the project created?The foundations of Squid were laid in 2022. At the time, the blockchain ecosystem was rapidly becoming multichain, while the user experience was not improving at the same pace.A user who wanted to convert a token on Ethereum into a different token on another blockchain could be forced to complete several separate steps. This could involve using a bridge, obtaining the destination network’s gas token and then making another swap on a decentralized exchange.Squid focused on bringing this fragmented process into a single route. The user selects the starting asset and the asset they want to receive. The routing engine then evaluates available DEXs, bridge infrastructure and other liquidity sources to determine the transaction path.For this reason, Squid is not positioned solely as a traditional bridge. Its infrastructure combines a settlement protocol, liquidity routing engine, developer tools and a user-facing application.Squid’s History: Key MilestonesThe idea behind Squid emerged in 2022, and the platform went live in January 2023. Its first version focused particularly on making token transfers between different blockchain environments, including Ethereum and Cosmos, easier.That same month, the project completed a $3.5 million seed funding round. The round was led by North Island Ventures, with participation from Distributed Global, Fabric Ventures, Galileo, Chapter One and Node Capital. Axelar was also among the strategic supporters of the project.Squid upgraded its infrastructure several times in the following years. Axelar’s messaging system played a more central role in the first version, while Squid V2 introduced a broader routing system that could combine different bridges, DEXs and liquidity sources within the same transaction path.The project later developed an intent-based architecture called CORAL. Under this model, market makers can compete to execute user transactions. Squid later expanded this approach through Squid Intents and moved part of its transaction execution logic into Trusted Execution Environments, or TEEs.QUID token launch and exchange listingsSquid operated for several years without its own token. The QUID rollout gained momentum in 2026.The public sale began on June 30, 2026 through Kraken and Legion and ended on July 3. According to Squid, 3,542 people participated in the sale. Total committed capital exceeded $26.66 million, while demand reached 11.9 times the sale cap.The QUID Token Generation Event took place on August 4, 2026 at 13:00 UTC. From that point, the token became transferable and usable. The staking system also became available alongside the token launch.Squid’s launch announcement listed platforms including Kraken, Bitget, Bitvavo, Upbit, Bithumb and MEXC for QUID. On Binance, the token became available through Binance Alpha, followed shortly by a QUID-focused Binance Alpha trading campaign. On-chain access was also provided through PancakeSwap and various DEX aggregators.Squid’s current statusAs of September 8, 2026, QUID has been trading for around one month since its launch. At the time this guide was prepared, market data placed the QUID price at approximately $0.0666. The token’s market capitalization stood at around $9.5 million, while its fully diluted valuation was approximately $66.5 million. Circulating supply was around 143.16 million QUID.The token reached its current all-time high of approximately $0.143 on August 4, 2026, the day of its launch. Market data shows that QUID later fell to around $0.0629 on August 18. This created a relatively wide trading range during the token’s first weeks on the market. Because only a relatively small share of the total supply is currently circulating, future token unlocks will also be an important factor to watch in QUID’s market dynamics.How Does the QUID Token Work?Staking and governance sit at the center of QUID’s utility. Token holders can stake QUID to participate in ecosystem activity and earn QUID from a dedicated rewards allocation.There is an important detail regarding these staking rewards. They are not created through new token issuance. Squid reserved a predetermined share of the total supply for the staking program.A total of 5 million QUID has been allocated to staking during the first year. This represents 0.5% of the total supply. The amount distributed depends on staking participation and the parameters of the program.QUID also has a governance role. According to Squid, the governance system will expand gradually. The model currently covers a limited range of ecosystem decisions, but it could eventually include protocol parameters, treasury use, staking conditions and other ecosystem matters.The project has also outlined a potential token buyback mechanism. However, this system is not automatically active. Whether treasury resources will be used to purchase QUID, along with the conditions of any future mechanism, may eventually be determined through governance.Squid also plans to introduce additional uses for QUID across its products. The project does not present these future features as fixed or guaranteed. Their scope may change depending on product development and governance decisions.Supply, distribution and tokenomicsQUID has a maximum and total supply of 1 billion tokens. Its genesis supply was also set at 1 billion, meaning the current tokenomics structure does not plan for additional QUID issuance. There are also no validator emissions or permanently inflationary reward mechanisms.The total supply is divided into six main categories:Investors: 30.39%, or 303,946,126 QUIDTeam and advisors: 23.95%, or 239,481,903 QUIDStrategic partners: 10%, or 100 million QUIDPublic sale: 5%, or 50 million QUIDEcosystem growth: 7.5%, or 75 million QUIDFoundation Treasury: 23.16%, or 231,571,971 QUID The token unlock schedule is particularly important. Tokens allocated to investors, the team, advisors and strategic partners did not unlock at the TGE. These categories are subject to a 12-month cliff.For investor tokens, 25% will unlock at the end of the cliff, while the remaining allocation will vest linearly until month 24. Team and advisor tokens, along with strategic partner allocations, also unlock 25% at the end of the cliff, but the remaining tokens continue vesting until month 36. The 50 million QUID allocated to the public sale was fully unlocked at the TGE. Of the 75 million tokens reserved for ecosystem growth, 70 million became available around the TGE, while 5 million QUID was set aside for first-year staking rewards.On the Foundation Treasury side, 10% of the allocation was unlocked initially. The remaining 90% unlocks linearly over 36 months. As a result, QUID’s circulating supply is expected to increase over time.Network, transactions and securityAlthough QUID itself is a Base ERC-20 token, Squid’s technical infrastructure is not limited to Base. The protocol is designed to find suitable transaction routes across different networks, DEXs, bridge systems and liquidity providers.Under the Squid Intents architecture, the user specifies the desired outcome. The system can then use an RFQ structure in which market makers compete to execute the transaction. Once a suitable route is selected, the transaction is completed.Trusted Execution Environments are another notable part of the newer architecture. A TEE allows execution code to run inside an isolated hardware environment separated from the rest of the system. Squid executes part of its routing logic in this environment and settles the verified result on-chain.The protocol operates on a non-custodial basis. In other words, Squid does not hold user assets in its own accounts in the same way a centralized exchange would.On the security side, Squid says it has undergone nine independent audits. These audits were carried out by firms including Ackee Blockchain, Consensys Diligence, 0xKaden and n-Var. However, a history of audits does not guarantee that a blockchain protocol will never face vulnerabilities in the future.Why Is Squid Important?The shift toward a multichain crypto ecosystem has increased the number of assets available to users. At the same time, liquidity has become fragmented across different networks, making the overall user experience more complicated.It has become normal for one token to exist on Ethereum, another asset to trade on Solana and a separate application to support only a particular Layer 2 network. Moving between these environments often requires users to understand the underlying blockchain infrastructure.Squid attempts to hide much of this complexity within its routing layer. From the user’s perspective, the goal is simply to move from one asset to another. The system handles bridge selection, intermediate tokens, different DEXs and the transaction route.This approach is also relevant for developers. Squid’s SDK, API and widget tools allow other applications to integrate cross-chain functionality directly into their own interfaces. As a result, users may interact with Squid’s infrastructure in the background without ever visiting the Squid website itself.Squid’s place in the multichain ecosystemSquid positions itself as a broader interoperability infrastructure rather than simply a bridge service. This distinction is also reflected in the way the platform has expanded.According to official figures, Squid has routed more than $6 billion in transaction volume since launching in January 2023. The platform is used across more than 1,000 integrations and has served over 1 million users.Wallets such as MetaMask, Brave, Keplr and Ledger; DeFi applications including PancakeSwap and Sushi; and payment products such as MiniPay are among the examples of services that use Squid infrastructure.The project also has broader integrations with XRPL, Stellar, Hedera and Celo. Squid provides bridge infrastructure for XRPL and operates a validator on the network. On Stellar, it offers a cross-chain route for PYUSD, while it also works on onboarding and liquidity connectivity within the Hedera and Celo ecosystems.This integration model matters because Squid does not need all of its usage to come directly from its own interface. As more products use Squid as an infrastructure layer, transaction flow through the network can expand. QUID risks and volatilityOne of QUID’s clearest risks is the fact that the token is still very new. Its short trading history means there is limited long-term data on liquidity and investor behavior.The token supply structure also deserves attention. A significant share of the total supply is allocated to investors, the team, advisors, strategic partners and the treasury. These tokens will not all enter circulation at once, but vesting schedules will gradually increase the available supply.The period following the 12-month cliff will be particularly important, as investor, team and strategic partner allocations begin to unlock. If demand does not grow at a similar pace, the increase in circulating supply could put pressure on the token.Technical risks associated with cross-chain protocols should also be considered. Although Squid operates with a non-custodial architecture and has undergone security audits, a single transaction can interact with multiple blockchains, smart contracts and liquidity sources. This naturally creates additional technical dependencies.Competition is another major factor. LI.FI, deBridge, Stargate, Wormhole and several other bridge and aggregation projects operate in the blockchain interoperability and cross-chain liquidity sector. Squid’s long-term position will depend on more than the number of networks it supports. Transaction quality, integrations, security and developer adoption will also play a role.Squid’s Community and EcosystemSquid’s official sources identify Fig, Christina and Koda as the project’s founders. The founding team began working on the project in 2022, and the first product went live in early 2023.Fig works on the product and protocol side of Squid. His background includes medicine, venture capital and algorithmic crypto trading systems.Christina, who is also referred to as Xtina in some official sources, studied business before completing a master’s degree in philosophy and public policy at the London School of Economics. At Squid, she works across growth, operations, strategy and partnerships.Koda focuses on engineering. He oversees the backend routing infrastructure and the project’s technical strategy. Squid says its team consists of around 20 people and operates fully remotely.The project has also raised capital through several funding rounds. North Island Ventures was among its early backers, while Polychain Capital, Ripple and other crypto companies and investors later supported the project.Community and governanceThe launch of QUID expanded the potential role of the Squid community within the protocol. Staking is one of the main tools supporting this structure.Users who stake their tokens can receive a share of the dedicated reward pool. Staking has also been designed with the possibility of being linked to governance weight in the future. Squid plans to expand governance gradually rather than immediately handing full control of the protocol to the community.Future phases may bring protocol parameters, staking conditions, treasury decisions and selected ecosystem initiatives into the scope of QUID governance. However, it would be inaccurate to say that all of these areas are currently controlled by the community.Public sale figures also showed considerable early interest in the token. Participants from 78 countries joined the sale, with 3,542 users submitting applications. However, demand during the public sale does not guarantee that the project will maintain the same level of user or investor interest in the future.Integrations and use casesOne of Squid’s strongest areas is its broad integration network. The protocol operates not only through its own application but also as infrastructure inside other crypto products.Wallets such as MetaMask, Ledger, Brave and Keplr; DeFi platforms including PancakeSwap; and payment applications such as MiniPay are part of the wider ecosystem. According to Squid’s official website, the number of integrators has surpassed 1,000.The project’s relationship with Ripple also extends across several areas. Ripple is one of Squid’s investors, while Squid is also developing cross-chain infrastructure for the XRP Ledger ecosystem.Squid also works with networks such as Stellar, Hedera and Celo. This diversity shows that the project is not focused exclusively on Ethereum and EVM-compatible chains.Frequently Asked Questions (FAQ)Here are some frequently asked questions about Squid:What is Squid and when was it launched?: Squid is a cross-chain infrastructure protocol designed to make token swaps and transfers between different blockchain networks easier. Development began in 2022, and the platform launched in January 2023. The QUID token held its TGE on August 4, 2026.What is the QUID token used for?: QUID is the native token of the Squid ecosystem. Its main use cases include staking and governance. The project may introduce additional product features and token-related mechanisms in the future. Staking rewards come from a predetermined QUID allocation rather than newly issued tokens.Which network does Squid operate on?: Squid is a multichain protocol that provides access to more than 100 blockchain networks. The QUID token itself was issued as an ERC-20 token on Base. For this reason, the networks supported by Squid should be distinguished from the blockchain on which QUID was created.Who founded Squid?: Squid’s official sources identify Fig, Christina and Koda as the project’s founders. Fig works on product and protocol development, Christina focuses on growth and strategy, while Koda oversees engineering and backend routing infrastructure.What is the QUID supply?: QUID has a total and maximum supply of 1 billion tokens. Under the current tokenomics structure, the supply is fixed and no additional QUID issuance is planned. The supply is distributed across six main categories: investors, team and advisors, strategic partners, public sale, ecosystem growth and the Foundation Treasury.Is Squid (QUID) suitable for investment?: Whether QUID is suitable for an investor depends on their risk tolerance, expectations and portfolio structure. The token is still relatively new, and a significant portion of the supply will enter circulation over time through vesting schedules. Competition in the cross-chain sector, protocol adoption, the development of QUID’s actual use cases and broader crypto market conditions should all be considered rather than making an investment decision based solely on the project’s integrations.To follow how Squid develops its position in the cross-chain ecosystem and how the QUID token evolves within the project, keep exploring the JR Kripto Guide series.
What Is Grvt (GRVT)?
Trading in crypto markets, earning yield, and accessing different investment products often require users to move assets across multiple platforms. Grvt aims to bring this fragmented structure into a single self-custody account. Built with ZKsync technology, the platform combines spot and derivatives trading, yield products, and investment instruments backed by real-world assets under one balance, while the GRVT token serves as the membership and utility layer of the ecosystem.Grvt’s Definition and OriginsGrvt is an on-chain financial platform designed to give users access to different financial products while allowing them to retain control over their assets. In its early years, the project mainly stood out as a hybrid crypto exchange and derivatives trading platform. Its scope later expanded, and Grvt began positioning itself as an “on-chain wealth platform.”At the center of the platform is the “One Balance” model. Instead of requiring users to constantly move capital between separate trading, investment, and yield accounts, Grvt aims to let the same balance serve multiple purposes.Grvt currently divides its products into three main categories: Earn, Invest, and Trade. Earn focuses on generating yield from eligible balances, while Invest offers professional investment strategies and tokenized real-world assets. Trade covers spot markets and perpetual futures.GRVT is the native utility and membership token of the platform. The token does not represent shares or ownership in Grvt. It also does not give holders a direct claim on company revenue.Holding GRVT or locking it through eligible products may provide different benefits related to trading fees, platform features, and access to certain investment products. As a result, the token’s utility is closely tied to activity within the Grvt ecosystem. Which network does Grvt operate on?When discussing Grvt, it is important to distinguish between the network used by the platform and the network on which the GRVT token exists. GRVT is an ERC-20 token issued on the Ethereum mainnet. Its maximum supply is capped at 1 billion tokens at the smart contract level.The Grvt trading infrastructure does not process every transaction directly on Ethereum. Instead, the project operates on a dedicated Layer 2 built with ZKsync’s ZK Stack technology.This network uses a Validium model. Rather than storing all order and position data on Ethereum, some data is kept off-chain. Zero-knowledge proofs that verify transaction validity are then settled on Ethereum.This allows Grvt to provide a fast trading infrastructure designed to resemble the order book experience of centralized exchanges. At the same time, it moves away from the traditional custody model in which users hand full control of their funds to an exchange. According to Grvt’s official documentation, withdrawals must be authorized with a key controlled by the user.In short, the answer to “Which network is GRVT on?” is Ethereum. The answer to “Which network does the Grvt platform operate on?” is a dedicated Layer 2 and Validium infrastructure built with ZKsync ZK Stack.Why was the project created?Grvt’s origins are closely tied to counterparty risk on crypto exchanges. According to co-founder Hong Yea, the idea began taking shape in 2022. After leaving his career in traditional finance, Yea began developing a self-custodial hybrid trading platform with Matthew Quek and Aaron Ong.The team wanted to preserve the speed and user experience of centralized exchanges while allowing users to retain control over their assets. Over time, this approach expanded beyond derivatives trading.Today, Grvt also focuses on the problem of capital fragmentation across different platforms and accounts. In traditional finance, a user may hold cash at a bank, investments at a brokerage, and crypto assets on a separate exchange. A similar fragmentation exists in DeFi, where yield, swaps, derivatives, and RWA products are spread across different protocols.Grvt aims to make it easier for the same capital to move between different use cases. For example, certain assets on the platform may continue earning yield while also being used as trading collateral.Grvt’s History: Key MilestonesGrvt was founded in 2022. Its original goal was to build a derivatives trading platform with performance comparable to centralized exchanges, without requiring users to surrender full control of their funds.During this stage, the team began working with Matter Labs, the developer behind ZKsync. ZK Stack became a key part of Grvt’s technical architecture because it offered low transaction costs, higher throughput, and infrastructure suited to privacy-focused applications.In 2023, core features such as the order book, perpetual contracts, and options trading were tested on a closed alpha testnet. The project also expanded its community programs during the same year.Closed Beta Testnet 1.0 launched in March 2024. Selected institutions and partners tested the system during the first phase, followed by a broader rollout to additional user groups.The Open Beta Testnet became another important milestone in the third quarter of 2024. During this period, onboarding, reward programs, and bug bounty initiatives became key areas of focus.Grvt also took a significant regulatory step that year. In December 2024, the project’s Bermuda operating entity received a Class M Digital Asset Business license from the Bermuda Monetary Authority. Class M is a modified licensing category in Bermuda for digital asset businesses operating under specific conditions and for a defined period.Mainnet launch and product expansionGrvt’s mainnet went live in December 2024. Perpetual futures were the platform’s first major product. The project’s token did not launch at the same time; the GRVT TGE took place roughly a year and a half later.Following the mainnet launch, both trading volume and the number of products available on the platform began to grow. In an update published in May 2025, Grvt said total trading volume had reached $6.5 billion within roughly five months of launch, while the platform had recorded around 40,000 KYC-verified users.Throughout 2025, institutional integrations, mobile applications, and investment products were introduced. The project also completed new funding rounds during this period.In September 2025, Grvt announced the completion of a $19 million Series A funding round. According to a team profile published in February 2026, total funding had reached $34 million, while the project’s valuation stood at $540 million. Investors included Matrix Partners, Delphi Ventures, Hack VC, Further, and the ZKsync Foundation.In 2026, Grvt began shifting from being primarily a perpetual DEX toward a broader financial platform. Yield Layer, Earn products, spot markets, and RWA-focused investment instruments became part of this strategy.GRVT TGE and exchange listingsThe GRVT Token Generation Event took place on July 30, 2026. This marked the end of a long gap between Grvt’s mainnet launch in 2024 and the launch of its platform token.The token began trading on several centralized exchanges on the same day. OKX opened GRVT/USDT spot trading at 14:00 UTC on July 30. KuCoin, Bybit, and Bitget also listed the GRVT/USDT pair that day. MEXC launched both GRVT/USDT and GRVT/USDC markets.GRVT experienced significant volatility during its first days of trading. Market data shows that the token reached an all-time high of $0.4615 on July 30, 2026, before falling as low as $0.1458 on September 2.As of September 8, 2026, GRVT is trading at around $0.166. Its circulating supply is approximately 114.31 million GRVT, while its market capitalization stands near $19 million. These figures may change continuously depending on market conditions.How Does the GRVT Token Work?GRVT’s primary role is to support the membership system within the Grvt ecosystem. The project does not describe the token as an equity stake, governance share, or revenue-sharing instrument.According to the Grvt Litepaper, holding or staking GRVT may provide access to certain benefits across Earn, Trade, and Invest. On the Trade side, these benefits may include lower trading fees, greater capital efficiency, and access to advanced trading tools.Within Earn, users may receive fee discounts on yield products offered by the platform. In Invest, membership level may provide access to a broader range of investment products.There is an important distinction here. Holding GRVT does not automatically increase the yield generated by an investment product. Grvt’s current Litepaper states that users investing in the same product receive the same underlying product rate regardless of membership level.The token’s utility is expected to expand over time. However, features that remain on the roadmap should not be treated as guaranteed until they are actually launched.Supply and tokenomicsGRVT has a maximum and total supply of 1 billion tokens. The token follows the ERC-20 standard on Ethereum, and according to project documentation, there is no inflation mechanism that allows issuance above this limit.The supply is divided into four main categories: ecosystem development, community airdrops, investors, and the team. In March 2026, Grvt announced that the total community allocation had been increased to 28% of supply. Of this amount, 10% was linked to Season 1 and 18% to the expanded Season 2 program. Not all tokens entered circulation at the TGE. According to the official Litepaper, team and investor allocations had 0% unlocked at launch. The general structure includes a 12-month cliff followed by a 36-month vesting period, although some later-stage Series A investors may follow a different schedule.A portion of the ecosystem development allocation was unlocked at TGE for initial exchange liquidity and operations. The remaining allocation follows a six-month cliff and a subsequent 42-month vesting schedule.For the community airdrop, only part of the earned allocation was released at TGE. The remaining tokens are distributed over a period of up to 12 months under user-specific schedules.As of September 8, market data indicates that around 114.31 million of the total 1 billion GRVT supply is circulating. This represents roughly 11.43% of total supply. Future token unlocks are therefore an important factor to monitor.Network, transactions, and securityThe fact that GRVT is an ERC-20 token does not mean every transaction on the Grvt platform takes place on Ethereum Layer 1. The platform uses its own ZKsync-based Layer 2 infrastructure.Within Grvt’s architecture, a significant portion of order matching and risk checks takes place off-chain. Valid state changes are then transferred to the dedicated Layer 2 and settled on Ethereum using zero-knowledge proofs.The Validium model prevents all transaction data from being openly posted to Ethereum. This can be particularly relevant for institutional traders who may not want position sizes or trading strategies to be publicly visible on-chain.The self-custody model is another important part of the architecture. According to Grvt, user funds are held in smart contracts and fund movements must be authorized with the user’s own key. The platform does not control the user’s private key.This structure does not eliminate every risk. Smart contract vulnerabilities, Layer 2 infrastructure, bridges, Validium data availability, platform operations, and users’ own key management all remain separate risk areas.Grvt’s core infrastructure has been reviewed by independent security teams including Spearbit DAO and NCC Group. Audits provide an additional security layer, although they cannot guarantee that a blockchain protocol will never experience vulnerabilities in the future.Why Is Grvt Important?One of the main issues Grvt targets is the fragmentation of capital across different financial applications. A user may need to move assets to a DeFi protocol to earn yield, to a DEX for leveraged trading, and to another platform for spot transactions.This process can create additional time costs, transaction fees, and operational risks. Capital spread across multiple platforms may also be difficult to use simultaneously as collateral or liquidity.Grvt’s One Balance model aims to reduce this problem. The platform is designed to allow users to access yield products, investment tools, and market trading with the same pool of capital.The Yield Layer is one example of this approach. Grvt directs a portion of eligible reserves to DeFi protocols on Ethereum Layer 1 in an effort to generate yield from otherwise idle capital. One of its first integrations was with Aave V3’s USDT market.The self-custody approach also aims to reduce custody risk associated with centralized platforms. Users retain control of the key required to authorize movements of their funds.Grvt’s place in the ecosystemGrvt is difficult to classify as a simple spot DEX. Its structure combines elements of a centralized exchange, perpetual DEX, DeFi yield protocol, and on-chain brokerage within the same platform.Perpetual trading was one of Grvt’s first major product groups. Spot trading was added later. As Earn and Invest products expanded, the project increasingly positioned itself as a broader on-chain financial platform.Real-world assets also play an important role in this strategy. Grvt aims to connect RWA products with a system that allows users to invest while, in some cases, maintaining capital efficiency.Its collaboration with Centrifuge is one example. Announced in May 2026, the partnership focuses on integrating yield from tokenized treasury and credit strategies into Grvt’s self-custody products.The project’s roadmap includes broader RWA offerings, unified margin, new investment vaults, secondary markets for vault tokens, copy trading, and fiat on-ramps. Some of these features remain under development, so existing products should be distinguished from planned features.Risks and volatilityGRVT has a relatively short market history. Since the TGE took place on July 30, 2026, the token remains in the early stages of price discovery.Its first weeks of trading highlighted this risk. Market data shows that GRVT fell from an initial high of $0.4615 to around $0.1458 within roughly one month. The circulating supply also represents only a small share of the total supply. With roughly 11.43% currently circulating, future token unlocks may increase the amount of GRVT available on the market.There are also project-level risks. Grvt relies on multiple technical layers, including smart contracts, a dedicated Layer 2, Validium infrastructure, DeFi integrations, and RWA products. While this expands the platform’s product range, it may also increase operational complexity and the overall attack surface.Long-term demand for GRVT is closely linked to Grvt’s user growth, trading volume, and demand for new products. Slower platform growth or stronger competition from similar projects could affect the token’s utility.Grvt’s Developers, Community, and EcosystemFounders and development teamGrvt was founded in 2022 by Hong Yea, Aaron Ong, and Matthew Quek. The three co-founders brought experience from traditional finance, technology, and banking.Hong Yea is Grvt’s co-founder and CEO. Before launching the project, Yea spent more than a decade in traditional financial markets. He served as an Executive Director at Goldman Sachs and previously worked as a trader at Credit Suisse.Aaron Ong is co-founder and CTO, overseeing the platform’s technical infrastructure. Ong previously worked as a Tech Lead at Meta and was involved in data privacy systems. At Grvt, he has played a role in the development of the ZKsync, Validium, and hybrid trading architecture.Matthew Quek is co-founder and COO. Quek previously led the Blockchain & Payments team at DBS Bank and also worked at Singapore GovTech. At Grvt, he focuses on operations, regulatory processes, and the institutional side of the platform.The project has raised significant funding from several investors. As of February 2026, the disclosed total of $34 million included backing from Matrix Partners, Delphi Ventures, Hack VC, Further, and the ZKsync Foundation.Community and governanceThe community has played an important role in Grvt’s token distribution model since the early stages of the project. During the testnet period, the project used points and reward systems to encourage trading, liquidity provision, and broader ecosystem participation.The Genesis reward program created separate reward pools for traders, liquidity providers, and ecosystem participants. Some parts of the distribution mechanism were changed following community feedback and voting. For example, the previous badge system was replaced by a model that gave greater weight to points.In 2026, the GRVT allocation reserved for the community was increased to 28% of total supply. This decision was closely tied to the extension of the Season 2 program.Even so, GRVT should not be described as a traditional DAO governance token. The current Litepaper explicitly states that the token does not grant governance rights or ownership in the company. Its primary role remains focused on platform membership and utility benefits.Partnerships and use casesThe Grvt ecosystem extends beyond its own Layer 2 network. The project aims to connect external liquidity sources, DeFi protocols, and RWA providers within a single user experience.ZKsync is one of the project’s most important technical partners. Aave is also among the first DeFi integrations used by the Yield Layer.On the RWA side, the collaboration with Centrifuge is designed to expand access to tokenized institutional assets. Grvt has also announced work with Plume to bring diversified RWA yields to the platform.The project has also formed partnerships in liquidity and institutional trading. In 2024, Grvt said it was working with 16 market makers that had collectively committed $3.3 billion in monthly trading volume. Later integrations included institutional trading infrastructure providers such as CoinRoutes.These integrations matter for GRVT because the token’s utility model is closely linked to platform growth. As Grvt brings more trading, yield, and investment products under one balance, the number of areas in which GRVT membership can be used may also increase.Frequently Asked Questions (FAQ)Here is the answers for FAQs about Grvt:What is Grvt and when was it launched?: Grvt is an on-chain financial platform designed to combine spot and perpetual trading, yield tools, and investment products under a single self-custody balance. The project was founded in 2022 by Hong Yea, Aaron Ong, and Matthew Quek. Closed Beta began in 2024, the mainnet launched in December 2024, and the GRVT token TGE took place on July 30, 2026.What is the GRVT token used for?: GRVT is the utility and membership token of the Grvt ecosystem. Holding or staking the token through eligible mechanisms may provide benefits such as lower trading fees, access to advanced trading features, and a broader range of products. GRVT does not represent company equity, revenue sharing, or automatic governance rights.Which network does Grvt operate on?: The GRVT token was issued as an ERC-20 token on Ethereum. The Grvt platform itself operates on a dedicated Layer 2 built with ZKsync ZK Stack and uses Validium technology. Transaction validity proofs are settled on Ethereum Layer 1.Who founded Grvt?: Grvt has three co-founders. CEO Hong Yea has a background in traditional finance. CTO Aaron Ong previously worked at Meta. COO Matthew Quek has experience at DBS Bank and GovTech. The project was founded in 2022.What is the GRVT supply?: GRVT has a maximum supply of 1 billion tokens. According to project documentation, the supply is fixed and there is no minting mechanism that allows unlimited inflation. As of September 8, 2026, approximately 114.31 million GRVT are in circulation.Is Grvt suitable for investment?: Whether GRVT is suitable for investment depends on an investor’s risk tolerance, time horizon, and market expectations. The token only entered the market in July 2026 and showed significant volatility during its first weeks of trading. The relatively low circulating supply compared with total supply also makes future token unlocks an important risk factor. Investors should consider tokenomics, utility, liquidity, and their personal risk profile before making any decision regarding GRVT or other crypto assets.To stay up to date with Grvt’s self-custody model, ZKsync infrastructure, and developments across the GRVT token ecosystem, follow the JR Kripto Guide series.
What Is Cap (CAP)?
Generating yield in decentralized finance (DeFi) is relatively easy. Explaining where that yield comes from and who ultimately carries the risk is much harder. Cap (CAP) focuses directly on this problem. Built on Ethereum, Cap combines its cUSD and stcUSD products with institutional credit, financial guarantees, and blockchain-based collateral infrastructure. CAP serves as the governance token within this system.What Is Cap (CAP) and How Did It Emerge?Cap is an onchain credit protocol designed to help digital dollar holders earn yield while distributing credit risk across different market participants. At the center of the project is a model known as the Covered Agent Protocol.The system is built around more than a single token. Within the Cap ecosystem, cUSD functions as a digital dollar, while stcUSD acts as a yield-bearing savings product. CAP is positioned on the governance and long-term incentive side of the protocol.There is an important naming distinction. Another Ethereum-based project called Cap Finance has previously used the CAP ticker. This guide focuses on Cap Labs, which operates through cap.app, and the newer CAP token launched in June 2026.What is the CAP token?CAP is the ecosystem token of the Cap protocol. Project documentation identifies governance as its primary use case.CAP holders are expected to participate in governance decisions involving protocol parameters, supported collateral, operator onboarding, and protocol fees. CAP staking mechanisms connected to operators, delegators, and depositors are also mentioned in the documentation. However, as of September 2026, these integrations are still marked as “TBD,” meaning they have not yet been finalized.CAP therefore serves a different purpose from cUSD. cUSD is the protocol asset designed to track the value of the US dollar, while stcUSD is a yield-oriented product obtained by staking cUSD. CAP itself is not a dollar-pegged stablecoin.Which network does Cap operate on?Cap’s main infrastructure operates on Ethereum. cUSD is issued on Ethereum, while the protocol’s Vault, Lender, Oracle, Delegation, and other core smart contracts are deployed on Ethereum mainnet.The project is not aiming to remain limited to a single network. cUSD and stcUSD can be transferred to other chains through the LayerZero OFT standard.Cap also launched on MegaETH in early 2026. Users can transfer cUSD and stcUSD created on Ethereum to MegaETH and use them across different DeFi applications.The CAP token itself is an ERC-20 asset on Ethereum. Supported networks may differ between exchanges, so users should always check the network used for CAP deposits and withdrawals. Upbit also confirmed Ethereum support for CAP deposits when it listed the token in August 2026.Cap’s purpose and the Covered Agent Protocol modelCap was built around a key issue in DeFi: a large portion of yield is generated from activities taking place within the crypto market itself. Token incentives, leveraged trading, and strategies tied to market activity can produce high returns during favorable periods. Those yields can also decline quickly when market conditions change.Cap is trying to build a different model. The protocol brings together digital dollar holders, institutional borrowers, and underwriters or delegators willing to take on part of the credit risk.Users can deposit supported dollar-denominated assets into Cap and mint cUSD. Part of these reserves can then be lent to institutional borrowers approved by the protocol.For a borrower to access credit, another party must provide collateral against the associated credit risk. Delegators commit assets behind specific operators through shared security networks such as Symbiotic or EigenLayer.If a borrower fails to repay, the system is designed to absorb losses through the collateral mechanism before they are passed directly to depositors.Cap’s History: Key MilestonesCap was first introduced publicly on October 13, 2024. Its early concept focused on creating a more open market where stablecoin yield would not depend solely on incentives issued by the protocol itself.Throughout 2025, the project concentrated heavily on infrastructure and security. Cap underwent several security reviews involving Zellic, Trail of Bits, Spearbit researchers, Recon, and Sherlock. The project’s code was also made public before its mainnet launch.Cap officially became available to the public on August 18, 2025. From that date, users could mint cUSD on Ethereum and participate in the Frontier incentive program.The Homestead program followed Frontier. Launched on January 29, 2026, it was designed to support Cap’s transition from an experimental growth phase toward more permanent institutional credit and liquidity use cases.CAP token launch and exchange listingsThe CAP token launched around ten months after the protocol went live. Its Token Generation Event took place on June 26, 2026.Part of the token sale was conducted through Uniswap’s Continuous Clearing Auction system. According to Cap’s Q2 report, the Uniswap and Binance Wallet sales raised around 4.2 million USDC.The Uniswap sale attracted 1,002 bids, while demand reached roughly five times the available allocation.CAP quickly became available on several centralized exchanges. Cap’s Q2 report listed spot markets on Coinbase, Bithumb, Bybit, Kraken, Crypto.com, Bitvavo, HTX, MEXC, and BitMart. Binance Alpha was also among the first venues to support the token.On the derivatives side, Binance launched a CAPUSDT perpetual futures contract on June 27, 2026, with leverage of up to 10x. In August, Upbit added KRW, BTC, and USDT markets for CAP, bringing the token to one of South Korea’s largest exchanges.Cap’s current statusCap continued to expand its lending activity after the token launch. According to project data from July 2026, the platform had worked with 30 borrowers and 22 underwriters.Cumulative transfer volume reached $5.6 billion, while the protocol had previously recorded a peak TVL of $500 million.Current TVL figures vary depending on the methodology used. DefiLlama data from September 7, 2026 showed approximately $339 million in TVL and around $64.6 million in active loans.Cap’s own Q2 report recorded $272 million in TVL and $41.9 million in outstanding credit as of June 30. During the same period, the number of active borrowers increased 33% quarter over quarter, while the protocol reported a 4.40x credit coverage ratio.One of the project’s next major technical steps is Cap V2. Cap listed the completion of V2 audits, improvements to its credit engine, and support for additional credit and collateral types among its Q3 2026 targets.As of early September, there had been no clear official announcement confirming that these goals had been completed. Cap V2 is therefore more accurately viewed as part of the project’s planned development roadmap.How Does the CAP Token Work?CAP’s primary role revolves around protocol governance. Cap’s official documentation states that token holders are expected to have a say in protocol parameters, collateral management, operator onboarding, and fees.This governance role matters because Cap has more adjustable parameters than a conventional token transfer network. Decisions around which assets can be used as reserves, borrowing conditions, collateral limits, and access for different market participants can directly affect the protocol’s risk profile.CAP is also expected to be used in future staking mechanisms for operators, delegators, and depositors. However, the official documentation does not currently list these integrations as completed features. It is therefore important to distinguish CAP’s current functionality from its planned future use cases. The token may gain additional functions as the protocol develops, but mechanisms that have not yet gone live should not be treated as guaranteed utility.CAP supply, allocation, and tokenomicsCAP has a maximum supply of 10 billion tokens. According to CoinMarketCap data from early September 2026, approximately 1.56 billion CAP were in circulation.This represents around 15.6% of the maximum supply.Updated tokenomics data following the TGE shows that approximately 47.37% of the supply is allocated to the ecosystem and community. Allocations for private investors and the team can each reach around 20%.Other allocations include 5% for the ICO, 3.75% for Private TVL Deals, 3.28% for the Echo Community Sale, and approximately 0.60% for market makers. The amount of CAP that has not yet entered circulation is particularly important. Roughly 84.4% of the maximum supply remains outside the circulating supply.Tokens allocated to the team, private investors, and the Echo sale are subject to an initial 12-month lock-up period. On the first anniversary of the TGE, 25% of the relevant allocations are expected to unlock, with the remainder released monthly over the following three years.This schedule makes future supply pressure an important factor to monitor. A fixed maximum supply prevents unlimited token issuance, although unlocks can still significantly increase the amount of CAP in circulation over time.Ethereum infrastructure and the relationship between cUSD and stcUSDUnderstanding Cap requires separating the roles of CAP, cUSD, and stcUSD. CAP is the governance token, cUSD is the dollar-based reserve asset, and stcUSD is a yield-accruing derivative of cUSD.Users can deposit supported reserve assets into the Vault and mint approximately the same dollar value in cUSD. The cUSD reserve can include dollar-denominated assets such as USDC, USDT, pyUSD, BUIDL, and BENJI.Users can also redeem cUSD for available reserve assets.When cUSD is staked, users receive stcUSD. The yield generated by stcUSD comes from loans provided to institutional operators and from selected strategies used to deploy idle reserves.For example, idle capital in the reserve can be allocated to lending markets such as Aave. Cap’s Fractional Reserve system collects the resulting yield and distributes it to stcUSD holders through the protocol’s fee mechanism.When an institutional operator borrows from Cap, its borrowing capacity is limited by collateral provided by delegators. Under default parameters, a 50% LTV can require delegation worth roughly twice the amount of the operator’s loan.If the position’s health factor falls below a critical level, the liquidation process can begin.Why Is Cap Important?Traditional DeFi lending often requires borrowers to deposit collateral worth more than the loan they want to receive. This approach reduces credit risk onchain, although it can also be inefficient from a capital perspective.For example, a high-frequency trading firm or market maker may not want to lock more than $10 million in liquid collateral to access $10 million in working capital. Traditional finance addresses this problem through credit assessment and institutional debt markets, but these processes generally take place offchain.Cap introduces a third party. An underwriter or delegator supports the borrower’s performance using their own collateral.This allows an institution to access liquidity without locking all of its own capital directly. The underwriter earns a premium for taking on the risk, while cUSD and stcUSD users gain an additional layer of protection against borrower defaults.Cap’s position in DeFi and credit marketsCap is targeting an area broader than the stablecoin market. The project increasingly positions itself as infrastructure for onchain private credit.One of the most visible examples of this strategy was its work with Susquehanna Crypto. In the first quarter of 2026, Cap announced a $100 million revolving credit facility for the company.The protocol has also worked with institutional market participants such as Flow Traders, FalconX, and M11 Credit.These relationships show that Cap is trying to connect institutional demand for credit with blockchain liquidity, rather than operating solely as a closed yield market for retail DeFi users.The model also overlaps with the RWA sector. Alongside dollar-denominated loans, Cap is working to integrate tokenized money market funds and additional collateral types into the protocol.CAP token risks and volatilityThe existence of economic protection mechanisms within Cap’s credit model does not make the protocol risk-free. Official documentation identifies smart contract, counterparty, reserve asset, oracle, bridge, liquidation, and third-party DeFi protocol risks.If an asset in the cUSD reserve loses its dollar peg, the value of the system may be affected. Deploying idle reserves into platforms such as Aave or Morpho also exposes Cap to the technical and liquidity risks of those protocols.The shared security infrastructure creates another layer of dependency. If the value of delegation supplied through Symbiotic or EigenLayer falls sharply, the health ratios of certain operator positions may deteriorate and trigger liquidations.CAP’s supply structure is another important factor. Only 15.6% of the maximum supply was circulating in early September 2026, while future team, investor, and ecosystem unlocks are expected to increase circulating supply.The token has also shown significant market volatility. According to CoinGecko, CAP reached an all-time high of approximately $0.078 on August 14, 2026. By early September, the price was trading well below that level.Past price performance does not indicate future returns. CAP’s value may be affected by broader crypto market conditions, token unlocks, protocol adoption, exchange liquidity, and Cap’s ability to scale its institutional credit model.Cap’s Developers and EcosystemCap Labs was founded by Benjamin Sarquis Peillard. In Cap’s official announcement regarding its Chainlink integration, Peillard is directly identified as the founder of Cap.Development of the project began in 2024.Cap’s team does not come from a single protocol background. According to the project, its development team includes contributors who previously worked on DeFi projects such as Beefy Finance, Frax Finance, Redacted/Dinero, and QiDao, as well as developers with Stanford connections.On the security side, Cap commissioned several independent reviews before launch. Zellic, Trail of Bits, Spearbit researchers, Recon, and Sherlock examined different parts of the codebase.These audits do not eliminate smart contract risk completely. Cap’s own risk documentation continues to identify potential code vulnerabilities as one of the protocol’s core risks.Community and governanceThe Frontier and Homestead programs played an important role in the early growth of the Cap community. Frontier launched alongside the protocol’s mainnet release in August 2025 and allowed users to earn “Caps” points for minting cUSD and participating in ecosystem activity.Homestead followed in January 2026. The program introduced different incentives for both cUSD users and delegators participating in the security side of the credit system.The launch of the CAP token added a governance layer to the community structure. Official token documentation states that CAP is intended to support governance over protocol parameters, collateral management, operator onboarding, and fees.Cap’s governance structure and token integrations are still developing. The fact that some features, including CAP staking, remain marked as “TBD” indicates that the token economy has not yet reached its final form.Partnerships, integrations, and use casesCap’s ecosystem spans both DeFi protocols and traditional finance firms. Its investors include Franklin Templeton, Triton Capital, GSR, Flow Traders, Laser Digital, IMC, RockawayX, Superscrypt, and other crypto-focused investment firms.On the credit and underwriting side, the project has worked with Susquehanna Crypto, Flow Traders, FalconX, M11 Credit, Bedrock, and other institutional players.Symbiotic and EigenLayer are used as part of the shared security infrastructure.DeFi integrations include protocols such as Pendle, Morpho, and Euler. Markets for cUSD, stcUSD, PT-cUSD, and PT-stcUSD have been created on Euler.MegaETH is another important part of Cap’s multichain expansion strategy. cUSD and stcUSD can be transferred to MegaETH using LayerZero infrastructure and used there across lending, trading, and payment applications.Frequently Asked Questions (FAQ)What is Cap (CAP), and when was it launched?: Cap is an onchain credit protocol that combines institutional lending with blockchain-based financial guarantees. The project was first introduced in October 2024, while the main protocol launched on Ethereum on August 18, 2025. The CAP token TGE took place on June 26, 2026.What is the CAP token used for?: CAP is designed as the governance token of the Cap protocol. It is expected to be used in governance processes covering protocol parameters, collateral management, operator onboarding, and fees. Staking mechanisms for operators, delegators, and depositors remain unfinished features in the official documentation.Which network does Cap operate on?: Cap’s core smart contracts operate on Ethereum. cUSD and stcUSD can also be transferred to other networks using LayerZero infrastructure and are available on MegaETH. Ethereum is the main network for the CAP token.Who founded Cap?: Cap Labs was founded by Benjamin Sarquis Peillard. The development team also includes contributors with previous experience across DeFi ecosystems such as Beefy Finance, Frax Finance, Redacted/Dinero, and QiDao.What is the CAP supply?: CAP has a maximum and total supply of 10 billion tokens. According to CoinMarketCap data from early September 2026, approximately 1.56 billion CAP were in circulation, equal to around 15.6% of the maximum supply.What is the difference between Cap, cUSD, and stcUSD?: Cap is the name of the protocol, while CAP is its governance token. cUSD works as a digital dollar created against dollar-denominated reserve assets. stcUSD is obtained by staking cUSD and accrues yield from the protocol’s lending and reserve activities.Is CAP suitable for investment?: Whether CAP is suitable for investment depends on the user’s risk profile, expectations, and market conditions. Since a large portion of the token supply has not yet entered circulation, future unlocks, growth in protocol lending activity, development of governance mechanisms, and broader market conditions should be monitored closely. Crypto assets are highly volatile and carry the risk of capital loss.Follow the JR Kripto Guide series to keep up with new developments in Cap’s onchain credit model, the cUSD ecosystem, and the CAP token.
Crypto This Week: All Eyes on 30 Key Developments, U.S. Inflation and ECB Decision
Bitcoin started the September 7–13 week at around $79,800. Last Friday’s stronger-than-expected U.S. employment report strengthened expectations for an interest rate hike, while a security incident involving 4,000 BTC on Liquid Network became the first major crypto risk of the week. According to the official report from the U.S. Bureau of Labor Statistics, nonfarm payrolls increased by 162,000 in August, while the unemployment rate remained at 4.1%. A Reuters poll had expected an increase of only 56,000 jobs, while markets pushed the probability of a September rate hike to around 60% after the data.Liquid Network halted after 4,000 BTC was withdrawnAround 4,000 BTC was withdrawn from the federation wallet of Bitcoin-based Liquid Network on September 6 by individuals describing themselves as “white hats.” At Bitcoin’s current price, the assets are worth roughly $320 million.Liquid said the transactions were carried out through SideSwap’s Peg-out Authorization Key and stated that the relevant key had not been compromised. The network halted new transactions and asked exchanges to suspend L-BTC deposits and withdrawals.There is still no confirmed timeline for the funds to be returned or for the network to restart. L-BTC reserves, exchange responses and the on-chain movement of the funds will therefore remain under close watch throughout the week.The incident did not affect the Bitcoin mainnet. The risk is concentrated in Liquid’s federation-managed BTC deposit and withdrawal mechanism.U.S. inflation could influence the Fed’s September decisionU.S. producer prices will be released on Thursday, September 10 at 3:30 p.m. Turkey time. The BLS calendar confirms that the report will cover August.Producer prices were unchanged on a monthly basis in July, while annual PPI declined to 4.7%. The recent increase in oil and refined fuel costs makes energy components particularly important in the August report.Consumer prices will be released on Friday, September 11 at 3:30 p.m. Turkey time. A Reuters survey expects headline CPI to rise 0.4% month over month, while the core index excluding food and energy is expected to increase 0.2%.Annual headline inflation is expected at 3.4%. A separate model estimate from the Cleveland Fed puts August inflation at 3.38% and core inflation at 2.38%.Fed officials have entered the blackout period ahead of the September 15–16 meeting. As a result, markets will focus on PPI, CPI and weekly jobless claims rather than new guidance from policymakers.ECB expected to raise rates by 25 basis pointsThe European Central Bank will announce its interest rate decision on Thursday, September 10 at 3:15 p.m. Turkey time. ECB President Christine Lagarde’s press conference will begin at 3:45 p.m., while new economic projections will be published at 4:45 p.m.The ECB’s official schedule shows that the meeting will take place in Berlin. All 65 economists surveyed by Reuters expect the deposit rate to be increased by 25 basis points to 2.50%.Eurozone inflation rose to 3.3% in August. The ECB’s messaging will be important in determining whether the hike is viewed as a one-off move and how higher energy prices are reflected in its 2027 projections.Oil prices approach $97Brent crude started the week at around $96.85, while U.S. crude traded near $92.10. Iran’s plan to establish a restricted maritime zone around the Strait of Hormuz and renewed attacks in the region have increased the risk premium surrounding energy supplies.Market assessments indicate that elevated diesel and oil prices are once again putting pressure on the global inflation outlook. Persistently high energy costs could strengthen the case for tighter monetary policy from both the Fed and the ECB.China’s August foreign trade data will be released on September 8. A Reuters poll expects exports to increase 25% year over year, imports to rise 30% and the trade surplus to reach $119.05 billion.Harmony considers migrating to EthereumThe Harmony team has proposed shutting down its independent layer-1 network and continuing the ONE token as an ERC-20 asset on Ethereum. The proposal has not yet passed a binding on-chain vote, and a final block date has not been confirmed.According to the published plan, users are being asked to exit liquidity pools and other smart contracts by September 10. Contracts that cannot be migrated directly, multisig wallets and decentralized applications could face risks.Validators will be able to begin shutting down their nodes from 5:00 p.m. Turkey time on September 10. The proposal calls for ONE balances to be recorded at the final block, with new Ethereum-based tokens distributed to the same addresses.There is no separate binding, high-impact DAO vote with a confirmed deadline this week. Harmony’s proposal therefore stands out as the main governance-related development.MultiversX to activate Supernova upgradeMultiversX will activate its Supernova mainnet upgrade on September 10 at around 9:05 p.m. Turkey time. The exact timing could shift by several minutes depending on block and round production.According to the project’s technical schedule, the upgrade will activate at round 32,157,661. Block time will fall from six seconds to 600 milliseconds, while the network will separate consensus from transaction execution.Fractal Bitcoin’s first halving is expected around September 9. The block reward will fall from 25 FB to 12.5 FB, while the project also plans to permanently burn 4.1 million unused FB.Upbit and Bitget to implement delisting decisionsUpbit will end BONK/KRW and BONK/USDT trading on September 7 at 9:00 a.m. Turkey time. According to the exchange’s official announcement, open orders will be canceled, while withdrawals will remain available until October 7.Bitget will close spot margin trading for FIDA, ALT, SATS, BLAST, BLUR, WAVES, BAN, AIXBT, RUNE, EGLD, LPT and GRT on September 10 at 6:00 a.m. Turkey time. Open positions and outstanding liabilities may be automatically liquidated by the exchange.The main spot delisting will take place on September 11 at 1:00 p.m. Turkey time. Bitget’s announcement includes 19 pairs involving VIC, CESS, MAK, VERT, JELLYJELLY, FIDA, BROCCOLI, ALT, SATS, FTT, BLAST, BLUR, WAVES, BAN, AIXBT, RUNE, EGLD, LPT and GRT.Withdrawals for these assets will remain open until December 11 at 1:00 p.m. Turkey time. There is no confirmed high-profile new spot token launch on a major exchange this week.NAME, PUMP and UP supply increases stand outThe largest proportional token unlock of the week will take place for NAME. Tokens worth around $55.67 million will be released on September 9 at 3:00 a.m. Turkey time, equivalent to 74.54% of the token’s current market capitalization.The STABLE unlock, scheduled for around 3:00 a.m. on September 8, will add approximately $24.9 million worth of tokens to supply. PUMP will see around $34.68 million worth of tokens become available on September 12 at 9:00 a.m.Unitas Labs will unlock approximately $11.78 million worth of UP on September 13 at 3:00 a.m. Turkey time. The amount represents 18.62% of the token’s current market capitalization.Aptos is scheduled to release 14.36 million APT on September 12 at 3:00 a.m. According to allocation data, 43.6% of the tokens are assigned to the community, 27.6% to insiders, 19.6% to investors and 9.3% to the foundation.Approximate dollar values for the token unlocks were calculated using current spot prices and will change as prices fluctuate. The weekly calendar also includes around $3.49 million worth of DOS, $3.49 million worth of HOLO and $1.39 million worth of NRS unlocks.Four crypto conferences scheduledBoston Blockchain Week will take place from September 8–10 at the Marriott Boston Quincy. The program focuses on blockchain infrastructure, artificial intelligence and security.Stablecon USA will be held on September 9–10 at National Harbor in the Washington area, bringing together stablecoin issuers, banks and regulators. Stablecoin payments, institutional integration and regulation are among the main topics on the agenda.Crypto Expo Dubai will take place on September 9–10 at the Dubai World Trade Centre. The organizer’s website indicates that the event is proceeding as planned, although regional security developments and flight conditions will remain under close watch.Web3 Warsaw will be held in Warsaw on September 10. The official program includes sessions covering blockchain, gaming, NFTs and artificial intelligence.Robinhood executives will participate in the Goldman Sachs Communacopia + Technology Conference on September 9 at 8:50 p.m. Turkey time. The company’s investor calendar will provide a live webcast of the presentation.There are no confirmed earnings releases this week from Coinbase, Circle or major publicly traded crypto miners. Robinhood’s presentation will therefore be the main corporate event involving a listed crypto-linked company.Crypto calendar: 30 developments to watch this weekSeptember 7: U.S. markets closed for Labor Day.September 7, 9:00 a.m. Turkey time: Upbit ends BONK trading.September 8, around 3:00 a.m.: Approximately $24.9 million worth of STABLE tokens unlock.September 8: China releases August foreign trade data.September 8–10: Boston Blockchain Week.September 9, 3:00 a.m.: Approximately $55.67 million worth of NAME tokens unlock.September 9, 3:00 a.m.: Approximately $1.46 million worth of MOVE tokens unlock.Around September 9: Fractal Bitcoin’s first halving.September 9–10: Stablecon USA.September 9–10: Crypto Expo Dubai.September 10: Web3 Warsaw.September 9, 8:50 p.m.: Robinhood presents at the Goldman Sachs conference.September 10, 3:00 a.m.: Approximately $3.49 million worth of DOS tokens unlock.September 10, 6:00 a.m.: Bitget closes 12 spot margin pairs.September 10, 3:15 p.m.: ECB interest rate decision; press conference at 3:45 p.m.September 10, 3:30 p.m.: U.S. August producer prices.September 10, 3:30 p.m.: U.S. weekly jobless claims.September 10, 5:00 p.m.: SEC meeting on preparations for 24-hour trading.September 10, 3:00 p.m.: Approximately $2.18 million worth of LINEA tokens unlock.September 10, 5:00 p.m.: Planned start of Harmony validator shutdowns.September 10, around 9:05 p.m.: MultiversX Supernova upgrade.September 11, 3:00 a.m.: Approximately $3.49 million worth of HOLO tokens unlock.September 11, 3:00 a.m.: Approximately $1.39 million worth of NRS tokens unlock.September 11, 1:00 p.m.: Bitget removes 19 spot trading pairs.September 11, 9:00 a.m.: U.K. July GDP, industrial production and trade data.September 11, 3:30 p.m.: U.S. August consumer inflation.September 11, 5:00 p.m.: Preliminary University of Michigan consumer sentiment data.September 12, 3:00 a.m.: Approximately 14.36 million APT tokens unlock.September 12, 9:00 a.m.: Approximately $34.68 million worth of PUMP tokens unlock.September 13, 3:00 a.m.: Approximately $11.78 million worth of UP tokens unlock.
