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StablecoinX shares rose more than 12% at Friday’s open after the company published its first quarterly results as a publicly traded company. The Nasdaq-listed firm, which trades under the ticker USDE, disclosed that it held approximately 3 billion ENA at the end of June.The position represents roughly 20% of the total supply of ENA, the governance token of Ethena. StablecoinX also reported a $34.2 million net loss for the quarter, although most of the loss came from an impairment charge on its ENA holdings.USDE shares climbed as high as $2.94 during the session. The stock later gave back most of its initial gains and returned to around $2.60.StablecoinX holds approximately 3 billion ENAAccording to StablecoinX’s financial results published on Aug. 14, the company’s treasury contained approximately 3.03 billion ENA as of June 30. The Ethena Foundation contributed 284,954,407 of those tokens.The remaining 2.75 billion ENA came from cash and in-kind investments made by PIPE investors. PIPE transactions allow investors to provide capital directly to a publicly traded company.StablecoinX valued its ENA treasury at $218.4 million as of June 30. The company based the calculation on ENA’s closing price of $0.07204 on that date.The position represented approximately $9.09 in ENA value for each of the company’s 24,029,375 outstanding Class A shares. However, this calculation does not independently account for the company’s debts, other liabilities or the discount assigned by the market.Movements in the ENA price directly affect the current value of the treasury. The $218.4 million figure therefore represents a snapshot as of June 30 rather than a fixed valuation. ENA drove the $34.2 million net lossStablecoinX reported a net loss of $34,180,809 for the second quarter. A $36,201,740 impairment charge on the company’s digital assets accounted for most of the reported loss.The charge does not mean StablecoinX sold its ENA or lost the same amount in cash. Instead, the accounting entry reflects the decline in the balance-sheet value of the company’s digital assets following the drop in ENA’s price.StablecoinX reported an adjusted loss of $188,204 after excluding the impairment and fair-value changes associated with its digital assets and warrant liabilities. The difference shows that token prices and related accounting effects drove most of the reported net loss.The company had $232.6 million in total assets at the end of the quarter. The figure included $18.9 million in cash and cash equivalents, along with $212.9 million in digital assets recorded after impairment.Operating revenue remains limitedStablecoinX’s operating business remains at an early stage. The company generated only $62,372 in infrastructure services revenue during the final two weeks of June.Its decentralized verifier node had processed more than $3 billion in cumulative verified cross-chain volume as of Aug. 12. The system also handled more than 10,000 cross-chain messages.The company launched the initial phase of its StablecoinX Harness middleware platform on July 2. Designed to combine enterprise stablecoin integrations through a single API layer, the platform signed its first client on July 10.StablecoinX also plans to launch a Distribution Services segment in 2027. Subject to market and regulatory conditions, the business would provide investors with indirect exposure to the USDe ecosystem.The Nasdaq ticker should not be confused with the stablecoinStablecoinX completed its merger with TLGY Acquisition Corp. on June 25. Its Class A shares and warrants began trading on Nasdaq one day later under the tickers USDE and USDEW, respectively.The USDE ticker refers to StablecoinX shares. Ethena’s dollar-pegged stablecoin is styled USDe, while ENA serves as the ecosystem’s governance token.StablecoinX’s financial position therefore remains highly exposed to ENA’s price. A rally in the token could increase the market value of its treasury, while a sharp decline could produce further impairment charges and weaker reported results.Holding one-fifth of the ENA supply also creates significant concentration risk. StablecoinX shareholders gain substantial exposure to the growth of the Ethena ecosystem, while also assuming the price volatility and project-specific risks associated with a single token.
Leading South Korean cryptocurrency exchanges Upbit and Bithumb will end trading support for Storj (STORJ), ThunderCore (TT), and JasmyCoin (JASMY). The three altcoins will be removed from the platforms on September 14, with TT recording the sharpest price movement following the decision.ThunderCore was trading at approximately $0.000126 at the time of writing. TT’s 24-hour loss reached 42%, leaving the token just above its all-time low. JASMY and STORJ recovered most of the losses triggered by the announcement. As a result, the latest price movements across the three altcoins differ considerably.Upbit and Bithumb will halt trading on September 14According to Bithumb’s official announcement, trading in STORJ, TT, and JASMY will end at 3:00 p.m. KST on September 14, 2026. The deadline corresponds to 9:00 a.m. Turkey time.Upbit will close the STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW, and TT/BTC trading pairs on the same date. The exchanges will automatically cancel all open orders once trading support ends.Both platforms will continue supporting withdrawals until 3:00 p.m. KST on October 14. Bithumb advised users who plan to transfer their assets to another exchange or a personal wallet to complete address verification in advance.The decision only affects trading pairs available on Upbit and Bithumb. The underlying blockchain networks may continue operating, while other exchanges can make their own independent listing decisions.TT’s price loss reaches 42%TT initially fell by approximately 6.6% in the first minutes after the delisting announcements. Selling pressure intensified later in the day, pushing the token’s 24-hour loss to 42%, according to market data.At approximately $0.000126, TT was trading close to its all-time low of $0.000125. The token has lost nearly 65% over the past seven days, while its market capitalization has fallen to around $1.8 million.The 24-hour change also covers the period before the announcements. The entire loss therefore cannot be attributed directly to the delisting decision, although the simultaneous action by two major South Korean exchanges added to the existing selling pressure on TT.JASMY initially dropped 5.25% following the announcements. The token later recovered to approximately $0.00408, bringing its 24-hour performance close to flat.STORJ also declined by around 2% in the initial reaction before recovering its losses. STORJ was trading near $0.0433 at the time of writing, up 1.6% over the previous 24 hours.The three projects were previously placed on watchlistsUpbit and Bithumb placed STORJ under a trading warning on July 28. The move came two days after Storj Labs filed for Chapter 11 bankruptcy protection in the United States on July 26.Storj Labs said its decentralized storage services continued operating despite the restructuring process. Upbit reviewed issues involving the disclosure of material information, the project’s sustainability, and the progress of its operations.The exchanges added TT and JASMY to their warning lists on July 31. For JASMY, they cited insufficient disclosures regarding developments that could materially affect the token’s value, along with shortcomings in the project’s operations and sustainability.The TT review focused on concerns related to the project’s operations, token adoption, issuance structure, and circulating supply. Bithumb said the projects failed to resolve the issues behind their warning designations within the review period.The ThunderCore team previously disputed this assessment. The project maintained that its network and token issuance mechanism were operating normally and said it had informed Upbit and Bithumb about changes to its token economics.The exchanges proceeded with the delisting despite ThunderCore’s response. JASMY had not issued a new official statement regarding the decision at the time of writing.
Goldman Sachs is acquiring NEOS Investments, which manages investment products linked to Bitcoin and Ethereum, in a deal worth up to $2.25 billion. Once completed, the transaction will bring three crypto income ETFs onto the Wall Street giant’s asset management platform.According to Goldman Sachs’ August 12 announcement, NEOS manages $30 billion across 19 ETFs. The acquisition will be financed with cash and equity, with the final consideration subject to certain performance and service commitments. The transaction is expected to close in the first quarter of 2027. It remains subject to regulatory approval and other customary closing conditions.NEOS manages three crypto income ETFsThe acquisition includes three ETFs that provide indirect exposure to Bitcoin and Ethereum prices. According to NEOS’ latest fund data, these products manage approximately $1.29 billion in combined assets.The NEOS Bitcoin High Income ETF (BTCI) is the group’s largest crypto product, with approximately $1.10 billion in net assets. Instead of investing directly in Bitcoin, the fund gains exposure through spot Bitcoin ETFs and other Bitcoin-linked exchange-traded products.The NEOS Boosted Bitcoin High Income ETF (XBCI) manages approximately $111.3 million. The fund uses Bitcoin ETPs and options to target notional exposure equal to roughly 150% of the BTCI strategy.On the Ethereum side, the package includes the NEOS Ethereum High Income ETF. Trading under the ticker NEHI, the fund has approximately $79.2 million in net assets.NEHI does not hold Ether directly. It gains indirect price exposure through Ethereum ETPs and related options, meaning the acquisition will not make Goldman Sachs a direct holder of Bitcoin or Ethereum.Funds target income from Bitcoin volatilityNEOS’ crypto ETFs use options strategies to pursue high monthly distributions. The funds seek to generate premium income by selling call options on Bitcoin- and Ethereum-linked products.As of the end of July, BTCI had an annualized distribution rate of 26.73%. The corresponding rate stood at 40.84% for XBCI and 32.93% for NEHI.However, distribution rates do not represent the funds’ total returns. NEOS states that payments may include option premiums, dividends, capital gains, interest income and return of capital.High distributions have also failed to fully offset declines in crypto prices. Based on market price, BTCI posted a one-year total return of negative 40.95% as of June 30.XBCI, which began trading in February 2026, had lost 29.38% since its launch by the same date. NEHI’s market-price total return since inception stood at negative 42.40%.These figures show that options income does not fully protect investors against sharp declines in Bitcoin and Ethereum prices. Selling call options can also limit the funds’ participation in crypto price gains during rising markets.Goldman Sachs’ ETF platform will reach $130 billionThe NEOS acquisition will strengthen Goldman Sachs’ position in the rapidly expanding active ETF market. The addition of NEOS and the previously acquired Innovator Capital Management will bring the bank’s active ETF assets to $80 billion.Goldman Sachs’ global ETF platform will grow to a combined $130 billion. Once the transaction closes, the company will rank among the eight largest active ETF managers in the United States.According to Goldman Sachs, ETFs that use derivatives to generate income now manage approximately $180 billion. The category has recorded a compound annual growth rate of more than 70% since 2021.NEOS co-founders Troy Cates and Garrett Paolella will join Goldman Sachs Asset Management as partners after the acquisition closes. NEOS’ existing employees are also expected to move to Goldman Sachs.Goldman Sachs expands its crypto ETF plansGoldman Sachs filed with the SEC in April for its first crypto ETF, designed to provide exposure to Bitcoin prices while generating income from options. The NEOS acquisition will give the bank three existing products that use similar strategies and are already trading.The crypto funds account for approximately 4.3% of NEOS’ total $30 billion in assets. The broader active ETF and options-income markets remain the primary focus of the acquisition, although the Bitcoin and Ethereum products are among its most notable components.Once the transaction closes, Goldman Sachs will bring income ETFs linked to Bitcoin, Ethereum, U.S. equities, bonds, gold and real estate onto the same platform. The bank will therefore expand its presence in crypto-linked investment products through an established fund lineup managing approximately $1.29 billion in crypto ETF assets.
The U.S. Securities and Exchange Commission’s Division of Investment Management has made it easier for Franklin Templeton’s traditional funds to invest in its blockchain-based money market fund, FOBXX. The decision could expand the institutional use cases of BENJI tokens, which represent shares in the fund holding approximately $726 million in assets.According to the SEC’s letter dated August 12, the agency’s staff will not recommend enforcement action under the custody arrangement proposed by Franklin Templeton. This means mutual funds and ETFs within the Franklin Templeton fund family can add FOBXX shares to their portfolios if they meet the specified conditions.The decision provides an important example of how custody rules designed for physical securities can apply to fund shares represented on a blockchain. However, the letter does not amount to broad SEC approval for BENJI or introduce a new rule covering all investment companies.Franklin Templeton funds can use BENJIThe Franklin OnChain U.S. Government Money Fund operates under the ticker FOBXX as a government money market fund. It invests primarily in U.S. government securities, cash and repurchase agreements fully collateralized by government assets.Each BENJI token represents one share in FOBXX. According to Franklin Templeton’s product page, the fund aims to generate income while preserving capital and liquidity; it also seeks to maintain a stable share price of $1.Under the arrangement submitted to the SEC, Franklin Templeton funds will be able to use FOBXX for cash management. Potential uses also include investing collateral received through securities lending transactions.Features such as hourly net asset value calculations, intraday trading and faster transaction processing could offer operational advantages over conventional money market instruments.Franklin Templeton will retain control of private keysFranklin Templeton Investor Services maintains FOBXX’s official shareholder records. Its system combines the company’s traditional recordkeeping infrastructure with transaction data recorded on public blockchains.Franklin Templeton will create a separate Stellar blockchain wallet for every fund investing in FOBXX. The company will also retain control of the private keys associated with these wallets.The custody system will use multi-signature technology, multi-party computation and offline recovery capabilities. The transfer agent will be able to correct erroneous or unauthorized transactions, freeze or migrate wallet records and restore official ownership records when necessary.SEC staff found the structure sufficiently similar to existing custody arrangements that use electronic book-entry records instead of physical certificates. The agency also required independent accountants to verify the funds’ holdings at least three times per fiscal year, with at least two of those checks conducted without prior notice.What does the SEC decision mean for tokenization?The decision strengthens the connection between Franklin Templeton’s traditional investment products and its tokenized money market fund. The company’s ETFs and mutual funds will be able to allocate part of their cash balances directly to a blockchain-based fund.BENJI was previously added to an off-exchange collateral program for institutional investors on Binance. The tokenized fund shares have also been integrated with the institutional infrastructure of Kraken parent company Payward and MoonPay.The latest SEC letter opens a different use case from BENJI’s role on crypto platforms. Franklin Templeton’s U.S.-registered traditional funds can now invest directly in FOBXX under the specified custody and oversight conditions.Still, the SEC has not issued a general exemption covering all blockchain-based funds. The no-action letter applies only to the structure and commitments presented by Franklin Templeton; it does not constitute legal approval or a binding regulation.
U.S. inflation came in line with expectations in July, prompting only a limited reaction across the crypto market. Bitcoin held near $64,000 following the release but failed to begin a strong rally. Bitcoin was trading at around $63,900 as of 4:30 p.m. Turkish time. BTC was down approximately 0.4% over the previous 24 hours after moving between an intraday low of $63,204 and a high of $64,298.Ethereum hovered near the $1,900 mark. With the U.S. inflation figures matching forecasts, Bitcoin and altcoins avoided a sharp repricing in either direction.U.S. inflation matched expectationsAccording to the U.S. Bureau of Labor Statistics, the Consumer Price Index rose 0.1% month over month in July. Annual inflation eased from 3.5% in June to 3.4%.Market expectations also pointed to a monthly increase of 0.1% and an annual rate of 3.4%. The report therefore did little to change investors’ existing positions on the interest-rate outlook.Core CPI, which excludes volatile food and energy prices, increased 0.2% month over month in July. Annual core inflation slowed from 2.6% to 2.5%.The energy index fell 1.5% during the month, while gasoline prices declined 2.9%. Shelter costs rose 0.1% and accounted for roughly two-thirds of the monthly increase in headline inflation.Despite the slowdown, annual inflation remains above the Fed’s 2% target at 3.4%. This prevented uncertainty surrounding monetary policy from disappearing entirely.Bitcoin remains below $64,000Bitcoin was trading between $63,700 and $64,000 before the inflation report. The price briefly fluctuated following the release but remained within its established trading range.The figures matching expectations contributed to BTC’s muted reaction. A lower-than-expected inflation reading could have reduced the probability of another rate increase more decisively and supported risk appetite across crypto assets.A higher-than-expected result could have pushed U.S. Treasury yields and the dollar higher, placing pressure on Bitcoin. Since the report triggered neither scenario, BTC remained close to $64,000.Bitcoin has traded within a broad range of $62,000 to $66,000 in recent weeks. The inflation report did not provide a strong enough catalyst to push BTC beyond those boundaries.The first resistance levels to watch in the short term are $64,300 and $65,000. If selling pressure increases, attention could return to $63,200, followed by the $62,000 region.Ethereum hovers around $1,900Ethereum traded near $1,900 following the inflation report. ETH moved between $1,855 and $1,919 over the previous 24 hours.Holding above $1,900 will be important for Ethereum’s short-term recovery. If the level is lost, traders could begin watching $1,850 and $1,800 as potential support areas.The broader altcoin market also showed a limited response. Some lower-cap tokens recorded independent gains, but the inflation report did not spark a market-wide wave of buying.Why does the Fed’s decision matter for Bitcoin?Fed funds futures are pricing in an approximately 55% probability that the central bank will leave its policy rate unchanged within the 3.50%–3.75% range at its September 15–16 meeting. That expectation changed only slightly following the inflation report.Keeping rates unchanged could reduce the risk of further monetary tightening for Bitcoin. Higher interest rates and bond yields can draw investors toward yield-bearing traditional assets and weaken liquidity across the crypto market.Expectations of lower interest rates can place pressure on the dollar and Treasury yields, supporting risk assets such as Bitcoin. However, the Fed has yet to signal a rate cut, while inflation remains above its target.The U.S. economy’s loss of 23,000 jobs in July is another factor that could make it harder for the central bank to raise rates. The Fed is now trying to balance elevated inflation against signs of weakness in the labor market.Which data will the crypto market watch next?The next major event for crypto investors will be the U.S. Producer Price Index, due on August 13. Producer inflation can provide information about the cost pressures facing businesses and the possible direction of consumer prices in the coming months.The Fed will also receive August employment and consumer inflation figures before its September meeting. Those reports could shift the balance between a rate increase and another hold.The renewed rise in oil prices is also being closely monitored by the crypto market. If higher energy costs feed into August inflation, concerns about tighter Fed policy could return.Bitcoin’s short-term outlook remains tied to the $62,000–$66,000 range. Although the inflation report helped limit downside risks, a lasting break above $66,000 may be needed before a new upward trend can emerge.
The Bank of Russia has added Bitcoin, Ether and Tether’s USDT stablecoin to the list of crypto assets eligible for public trading on domestic exchanges. Russian investors will be able to buy and sell these assets through the country’s regulated market.Trading will not begin immediately. The decision appears in a draft regulation that remains open for public consultation, while exchanges and intermediaries still need to complete the technical preparations.Bitcoin, Ether and USDT met the requirementsAccording to the Bank of Russia’s August 11 announcement, the regulator selected eligible cryptocurrencies using three main criteria. It considered market capitalization, average daily trading volume and pricing history on foreign platforms.A crypto asset must have at least five years of pricing history on foreign exchanges to qualify. Russia’s new crypto law also requires an average market capitalization above 5 trillion rubles and an average daily trading volume exceeding 1 trillion rubles over the previous two years.Based on these criteria, Bitcoin, Ether and USDT became the three liquid assets available to non-qualified investors. Smaller altcoins were excluded from the initial list.The Bank of Russia may temporarily approve other cryptocurrencies for public trading for periods of up to six months. Qualified investors will be able to purchase any cryptocurrencies offered on exchange or over-the-counter markets without an investment cap.Retail investors face a 300,000-ruble limitThe new rules introduce an annual purchase limit of 300,000 rubles for non-qualified investors. The limit will apply separately to each broker, crypto exchange or asset manager.Investors must pass a knowledge test before making transactions. Intermediaries will also need to inform customers about crypto market volatility and the risk of losing their capital.The regulator aims to restrict retail access to highly volatile tokens with insufficient liquidity. Bitcoin, Ether and the dollar-backed USDT will therefore dominate the market during its initial phase.The draft regulation will remain open for public consultation until August 24. The Bank of Russia will review the submitted feedback before publishing the final rules.Crypto trading could begin in NovemberRussian President Vladimir Putin signed the country’s Digital Currencies and Digital Rights law on August 4. Most of the legislation will take effect on September 1, 2026.The law classifies cryptocurrencies as property and allows investors to defend their ownership rights in court. It also creates a legal framework for crypto trading, custody and authorized cross-border transactions.However, using cryptocurrencies to pay for goods and services within Russia will remain prohibited. The new framework permits crypto assets for investment purposes without recognizing them as legal tender.Bank of Russia First Deputy Governor Vladimir Chistyukhin said regulated crypto transactions could begin in November. The Moscow Exchange also aims to launch Bitcoin, Ether and USDT trading before the end of 2026.Licensing requirements will take effect on July 1, 2027. From that date, brokers, crypto exchanges and digital custody providers will need authorization from the Bank of Russia to operate.Meta Title: Russia Approves Bitcoin, Ether and USDT TradingMeta Description: The Bank of Russia has approved Bitcoin, Ether and USDT for trading on domestic exchanges under its new regulated crypto framework.Keywords: Russia, Bitcoin, Ether, USDT, Bank of Russia, cryptocurrency, Moscow Exchange
Trump Media reported a net loss of $238.1 million for the second quarter of 2026 as the value of its crypto assets declined. The company had posted a loss of approximately $20 million in the same period last year.Trump Media shares, trading under the ticker DJT, fell more than 8% to $9.39 following the earnings report. Revenue increased from $900,000 to $1.7 million. However, the growth was not enough to offset pressure from crypto assets and operating expenses.The results came just days after Trump Media halted some of its planned crypto projects with Crypto.com. The companies abandoned plans to establish a CRO-focused digital asset treasury company while also scaling back their ETF and prediction market initiatives.Crypto assets generated a $116.7 million lossTrump Media recorded $116.7 million in realized and unrealized losses on digital assets during the second quarter. Its total crypto-related loss for the first half of the year reached $360.6 million.According to the company’s SEC filing, Trump Media held 9,477 Bitcoin at the end of June. The company acquired these assets at a cost of approximately $1.01 billion, while their fair value had fallen to $557.1 million by the end of the quarter. Trump Media also held 756.1 million Cronos (CRO) tokens on its balance sheet. These tokens had a cost basis of approximately $113.9 million but were worth only $40.6 million at the end of June.As a result, the combined market value of Trump Media’s Bitcoin and CRO holdings fell to $597.7 million, compared with a total cost basis of $1.12 billion. Most of the losses reflect unrealized changes in value. Still, the figures highlight how strongly crypto market volatility can affect the company’s balance sheet.Trump Media increased its Bitcoin position after the quarter ended. The company reported holding approximately 14,139 Bitcoin worth $890.5 million as of July 31.Crypto.com CRO treasury plan comes to an endMeanwhile, Trump Media, Crypto.com and Yorkville mutually terminated their plan to establish a CRO-focused digital asset treasury company on August 7. The parties cited prevailing market conditions and shifting corporate priorities.The plan involved creating a separate company called Trump Media Group CRO Strategy. The new entity intended to use equity and credit facilities to acquire a large amount of CRO.The parties also ended an arrangement under which Crypto.com would provide services for certain ETFs planned by Yorkville America. As a result, Crypto.com will no longer supply infrastructure and custody services for those funds. The joint statement noted that Yorkville America’s other existing and planned funds remain unchanged.However, the relationship between Trump Media and Crypto.com has not ended entirely. The companies replaced their plan to integrate prediction markets directly into Truth Social with a marketing agreement. Crypto.com will continue promoting its prediction market products to Truth Social users.Trump Media will also retain the CRO tokens it previously acquired. Existing contractual restrictions prevent the company from immediately selling most of its 684.4 million CRO holdings. The first sales window will open on August 26, 2026. The restrictions will ease gradually before expiring completely in August 2029.Trump Media seeks new sources of revenueAs management scales back its crypto plans, Trump Media is trying to generate more revenue from Truth Social. On August 1, the company launched Truth API, which provides banks and trading firms with low-latency access to social media data.Trump Media said it had already signed agreements with more than 10 customers. The company previously considered charging as much as $100,000 per month for access to Truth API.Trump Media is also working to complete its proposed merger with nuclear fusion company TAE Technologies. The deal could expand the company beyond social media and crypto into the energy sector.
Binance has added a “Monitoring Tag” to five altcoins following its latest reviews. The decision covers Moonbeam (GLMR), ICON (ICX), Moonriver (MOVR), SuperRare (RARE), and Sophon (SOPH).The exchange said these tokens carry higher volatility and risk than other listed assets. The projects will now face regular reviews and could eventually be delisted if they fail to meet Binance’s listing standards.Binance places five altcoins under closer reviewAccording to Binance’s August 11 announcement, the following altcoins have received the Monitoring Tag:Moonbeam (GLMR)ICON (ICX)Moonriver (MOVR)SuperRare (RARE)Sophon (SOPH)The tags will appear on the relevant spot and margin trading pages shortly after the announcement. Binance said other services associated with the tokens will remain unaffected.The decision does not mean that the assets will be delisted immediately. However, the Monitoring Tag signals that Binance is subjecting the projects to closer scrutiny amid heightened concerns over their risk profiles.How does Binance evaluate altcoins?Binance evaluates projects across several areas when deciding whether to add or remove a Monitoring Tag. The project team’s continued commitment, the level of development activity, trading volume, and liquidity are among the main criteria.The exchange also reviews the network’s security against attacks and the stability of its smart contracts. The team’s public communication and responsiveness to Binance’s periodic due diligence requests also influence the assessment.Unjustified increases in token supply or significant changes to tokenomics can raise a project’s risk profile. Evidence of fraud, negligence, or unethical conduct may also affect Binance’s listing decisions.Binance did not disclose which specific criteria raised concerns for each of the five projects. The announcement only stated that the decision followed the exchange’s latest reviews.Altcoins suffer sharp price declinesAll five altcoins covered by the decision were trading lower over the previous 24 hours when the article was prepared. Market data showed that MOVR recorded the sharpest decline, falling nearly 17%. ICX dropped by around 10%, while GLMR lost 9%, RARE declined 8%, and SOPH fell 7%. However, broader selling pressure across the cryptocurrency market means the losses cannot be attributed solely to Binance’s announcement.A Monitoring Tag can weigh on investor sentiment, particularly for altcoins with limited liquidity. If the tag remains in place and a project falls further below Binance’s standards, its risk of being delisted could increase.GLMR and MOVR recently underwent a network migrationGLMR and MOVR stand out as two tokens connected to the same ecosystem. In July, Binance announced that it would end support for deposits and withdrawals through the Moonbeam and Moonriver mainnets.The exchange supported the migration of both tokens to the Base network at a one-to-one ratio. However, Binance did not establish a direct connection between this migration and its latest Monitoring Tag decision.The five projects will now undergo periodic reviews. Binance may remove the tag if their risk profiles improve and they meet the exchange’s standards again; deteriorating conditions could eventually result in the termination of spot trading support.
Insurance companies do not retain every risk they underwrite on their own balance sheets. The vast market known as reinsurance transfers some of these risks to other companies, while Re Protocol brings stablecoin capital and blockchain-based transparency into the process. RE, meanwhile, is not the yield-bearing asset of this infrastructure; it is the token used to govern the protocol’s rules.What Is Re and How Did It Emerge?Re Protocol is a blockchain-based capital markets protocol that channels capital from digital assets into real-world reinsurance contracts. The project aims to connect decentralized finance with licensed insurance companies.Reinsurance refers to the practice of an insurance company transferring part of the risk it has underwritten to another insurance provider. For example, when an insurer issues policies for thousands of homes, vehicles, or businesses, it may transfer part of that portfolio to a reinsurer to prevent large claims from destabilizing its balance sheet.Re Protocol provides infrastructure that allows stablecoin capital to participate in this market. Assets deposited by users who meet the eligibility requirements are used to support fully collateralized reinsurance agreements.The RE token plays a role in Re Protocol’s governance, coordination, and security mechanisms. By staking RE, token holders can participate in decisions concerning protocol upgrades, technical permissions, committees, incentive policies, and reporting standards.The key distinction is between RE and reUSD or reUSDe. While reUSD and reUSDe are designed as deposit tokens that generate returns linked to reinsurance capital, RE focuses directly on governance.Owning RE does not represent company equity, a debt instrument, dividend rights, or a share of insurance premiums. The token also provides no direct claim on Re’s revenue, reserves, collateral, or treasury.Which network does Re operate on?RE is an ERC-20 token issued on the Ethereum mainnet. Its official smart contract address is 0x526526528f35ac738177003b8773b402b8df8143.Transaction validation and the preservation of transaction history rely on Ethereum’s Proof of Stake architecture. Users should therefore consider Ethereum network fees and possible congestion when transferring RE.Re Protocol’s broader infrastructure is not limited to Ethereum. The protocol has a multichain structure spanning different EVM networks, including Avalanche and Arbitrum. reUSD is also available on several networks, including Base, and can be used across a range of DeFi applications.In 2026, the protocol began migrating to Chainlink CCIP infrastructure for cross-chain reUSD distribution. This does not mean that the RE token uses the same contract on every network. Users should verify both the network and contract address through official channels before making a transaction.Why was the project created?The reinsurance market has long been dominated by large insurance companies, specialist brokers, and well-capitalized institutional investors. Capital requirements, licensing procedures, and legal restrictions make it extremely difficult for outside investors to access this market.Limited data visibility is another problem in the sector. The location of collateral, the movement of premiums, and the amount of capital supporting particular risks often cannot be monitored in real time through a public system.Re seeks to reduce this access problem by directing stablecoin capital into licensed and fully collateralized reinsurance structures. Publishing reserve data on the blockchain also aims to bring greater verifiability to traditional reinsurance processes.Policy pricing, claims assessment, and insurance risk selection are not handled entirely by smart contracts. Licensed insurance entities, actuaries, and professional underwriters conduct these processes offchain.Re’s History: Key MilestonesThe Re project was unveiled publicly in 2022. Co-founder and CEO Karn Saroya had previously helped establish Cover, a Y Combinator-backed insurtech company. His background also includes Stylekick, a startup acquired by Shopify.The early founding team included figures with experience in insurtech and software development, such as Natalie Gray, Cliff White, Ben Aneesh, and Anand Dhillon. Current project sources particularly associate Karn Saroya, Cliff White, Ben Aneesh, and Anand Dhillon with Re’s formation.The project completed a $14 million seed funding round in September 2022. Participants included Tribe Capital, Defy, Exor, Stratos, Framework Ventures, Morgan Creek Digital, and reinsurer SiriusPoint.In May 2024, Re raised another $7 million in a round led by Electric Capital. The two main disclosed funding rounds therefore brought the total to $21 million.During the same period, Re announced the first open-ended tokenized reinsurance fund on Avalanche. Nexus Mutual allocated $15 million in capital to the fund, while Ava Labs’ real-world asset-focused Vista fund also participated. Nexus Mutual’s $15 million allocation should not be categorized as a direct venture investment in the Re company.The protocol later expanded its reUSD and reUSDe products. Launched in July 2025, the Re Points program awarded points to early users who supplied capital to the system, based on transaction size and participation duration.The Chainlink Proof of Reserve integration went live in October 2025. It helped publish verified data about offchain reinsurance collateral on the blockchain. RE token launch and exchange listingsThe Resilience Foundation launched the RE token on June 18, 2026. The token generation event made 159.6 million RE transferable and opened the first phase of governance.Users who participated in the first season of the points program were also able to claim RE under specified conditions. Portions of larger allocations were tied to gradual vesting and requirements to hold assets within the ecosystem.Binance opened RE/USDT, RE/USDC, and RE/TRY spot trading pairs on June 18. The exchange also applied its Seed Tag, used for new projects that may experience high volatility, to RE.OKX launched RE/USDT spot trading on the same day and converted its previously opened pre-market futures into standard perpetual futures contracts. RE was subsequently listed on other platforms, including Coinbase, Upbit, Robinhood, Bybit, and KuCoin.Re’s official June 2026 report stated that the RE token launched across 27 different trading venues. Broad exchange access can support liquidity, but it does not eliminate the sharp price movements commonly seen in newly listed tokens.According to market data, RE traded at approximately $0.38 on August 7, 2026. Its circulating market capitalization stood at around $61 million, while its fully diluted valuation was close to $383 million. These figures change continuously with market conditions.Re Protocol’s current statusRe’s July 2026 performance report shows that the protocol’s broad definition of total value locked reached $581.13 million. Of this amount, $82.76 million was held onchain, while $179.44 million was held in offchain reserves at regulated institutions.The remaining $318.93 million consisted of contractually committed premium receivables arising from signed policies. The actual future collection of these premiums may be affected by policy performance and changes to reinsurance agreements.The protocol reported a reinsurance portfolio of $510.5 million at the end of July. Small commercial insurance accounted for 40% of the portfolio, commercial auto insurance for 29%, and homeowners insurance for 18%.Workers’ compensation insurance represented 12%, while personal auto insurance accounted for 1%. This distribution shows that the project initially prioritized more frequent and statistically modelable insurance risks.The first reUSDe redemption window also opened in July. Requests were accepted between July 9 and 22, with $1.5 million in redemption liquidity allocated for the period. This marked one of the first real tests of a liquidity model dependent on the release of offchain collateral.As of August 2026, the RE coin price is hovering around $0.40. How Does the RE Token Work?RE’s primary use case is participation in Re Protocol governance. Simply holding the token in a wallet does not automatically unlock every governance right; participants must stake RE.Stakers can vote on proposals, submit new proposals, and delegate their voting power to representatives. Eligible participants may also serve on protocol committees or perform certain verification functions.The initial governance phase covers smart contract upgrades, technical permissions, staking rules, committee formation, and transparency standards. The protocol includes the Market Acceptance Committee, Risk Standards Committee, Treasury and Investment Committee, Audit and Transparency Committee, and Technical Governance Committee. The pricing of individual insurance policies, acceptance of specific risks, and payment of claims are not subject to direct votes by token holders. Licensed insurance companies and responsible reinsurance professionals retain authority in these areas.RE can also be locked as collateral for sensitive governance responsibilities. A portion of staked tokens may be forfeited in cases of defined misconduct or failure to perform assigned duties. This mechanism is known as slashing in the crypto ecosystem.Lock-up, waiting, and unstaking periods may apply during the staking process. Although Re plans incentives to encourage active participation in governance, the RE token was not designed as an asset that generates passive returns from insurance premiums.RE supply, allocation, and token unlocksRE’s total and maximum supply is capped at 1 billion tokens. Project documents state that there are no plans for perpetual inflation or unlimited token issuance.Half of the total supply was allocated to the ecosystem. These 500 million RE tokens can be used for governance incentives, staking rewards, liquidity, integrations, grants, market expansion, and community programs.Core contributors and advisors received 200 million RE, equivalent to 20% of the supply. Investors were allocated 170 million RE, or 17%, while the remaining 130 million RE, representing 13%, was set aside for the Ecosystem Development Reserve. At the TGE, 159.6 million RE became liquid. This amount represents 15.96% of the total supply and comes entirely from the ecosystem allocation.The portion of the ecosystem allocation that did not unlock at launch enters circulation linearly over 48 months. On July 18, 2026, for example, 7.09 million RE from the ecosystem allocation was released. Monthly unlocks are expected to continue on a similar schedule.Tokens allocated to investors and core contributors have a 12-month cliff. After this period, the allocations will unlock linearly over 36 months. Based on the June 2026 TGE date, the first regular unlocks for team and investor tokens can be expected around June 2027.The Ecosystem Development Reserve is intended for long-term contributions. The official launch announcement did not provide a monthly vesting schedule for this reserve in as much detail as it did for the other categories.The share of total supply currently in circulation remains low. Future ecosystem, team, and investor unlocks could therefore create supply pressure on the RE price. A fixed total supply does not eliminate dilution risk; the circulating amount increases as previously locked tokens enter the market.Ethereum, smart contracts, and securityRE transactions are settled on Ethereum. Re Protocol’s security, however, extends beyond token transfers; stablecoin deposits, deposit-token minting, offchain capital transfers, reserve reporting, and redemptions each introduce separate layers of risk.Eligible users deposit supported assets into smart contracts known as the Insurance Capital Layer. The system issues reUSD or reUSDe according to the collateral deposited and the selected risk tranche.Part of the capital remains onchain to provide redemption liquidity. The portion used in reinsurance contracts is transferred to legally segregated trust accounts and regulated structures.The Resilience Foundation does not directly conduct Re’s insurance operations. Regulated reinsurance transactions are carried out by Cover Reinsurance SPC, which holds a Class B(iii) license in the Cayman Islands.The Network Firm verifies the reserves daily. Verified information about offchain reserves is published on the blockchain through Chainlink, while Fireblocks infrastructure is used to custody crypto assets.Hacken and Certora audited the smart contracts at different stages. Certora’s review focused on capital flows, the redemption mechanism, and administrator privileges; all disclosed findings were remediated.In July 2026, Sherlock also reviewed the NAV oracle structure that supplies daily minting and redemption prices for reUSD and reUSDe. No high-severity vulnerabilities were identified, and the low-severity findings in the report were resolved before publication.Why Is Re Important?Participating in the traditional reinsurance market requires substantial capital, specialized expertise, and regulatory approval. This structure largely restricts access to returns generated by insurance risk to institutional firms.Re establishes a system through which eligible participants using stablecoins can contribute to this capital requirement. This creates a new link between real-world insurance risks and blockchain-based liquidity.The use of blockchain is particularly important for collateral visibility. Having reserves verified by an independent organization and publishing the results through an oracle allows participants to monitor the capital position more frequently.Reinsurance returns are not directly derived from Bitcoin or Ethereum prices. Real-world events such as car accidents, workplace injuries, property damage, and commercial insurance claims determine portfolio performance.This can allow reinsurance to have a lower correlation with the crypto market. Low correlation does not mean low risk, however. Major claims, mispriced policies, or higher-than-expected claim rates can cause portfolio losses.reUSD, reUSDe, and the Insurance Capital LayerThe Re ecosystem contains three distinct token models. RE serves a governance function, while reUSD and reUSDe represent capital supplied through the Insurance Capital Layer.reUSD sits in the senior tranche of the capital structure. Users can obtain reUSD by depositing supported assets such as USDC, USDT, USDe, or sUSDe.This tranche is structured to absorb losses only after reUSDe and Re’s own capital. reUSD is therefore positioned as the lower-risk and more liquid option. The description “principal protected,” however, should not be interpreted as an absolute guarantee.The sources of reUSD yield vary according to whether capital is deployed onchain or offchain. The offchain portion is influenced by a spread over SOFR, a benchmark for short-term US interest rates, while the onchain portion is linked to the trailing yield of sUSDe.Instant redemptions are available only when sufficient onchain liquidity exists. If the liquidity buffer falls below a certain level, requests may be moved into a quarterly queue.reUSDe occupies a lower tranche in the capital stack and absorbs losses before reUSD. In return, it targets a higher share of the yield generated by reinsurance activity.Because most reUSDe capital is used as offchain reinsurance collateral, it cannot be redeemed continuously. Exits are processed through periodic windows in which an independent actuary determines how much capital can be released.Returns on both tokens are variable. reUSD and reUSDe are not bank deposits, carry no government guarantee, and are not covered by FDIC protection in the United States. KYC or KYB verification and jurisdiction-specific eligibility checks may apply.reUSD and reUSDe can also be used across Curve, Pendle, Morpho, Silo Finance, and various liquidity applications. These integrations expand the tokens’ utility while introducing lending, liquidity pool, and third-party smart contract risks into the system.Re’s Team and GovernanceRe Protocol’s technical and governance layer is organized around the Resilience Foundation. Actual reinsurance contracts are executed through the licensed Cover Re SPC. This legal separation keeps the blockchain protocol and regulated insurance activities within distinct entities.Chainlink supports the transmission of reserve data and cross-chain messaging. Fireblocks provides asset custody infrastructure, while The Network Firm performs daily reserve verification.Nexus Mutual’s $15 million allocation to the tokenized reinsurance fund in 2024 became one of the project’s early institutional connections. Electric Capital, Tribe Capital, Framework Ventures, Morgan Creek Digital, and Coinbase Ventures are also among the organizations that invested in Re at different stages.Governance is becoming decentralized in phases. RE holders can participate in certain policy and technical decisions, while licensed insurance, actuarial, and claims processes continue to depend on centralized organizations.This hybrid structure concentrates Re’s main strength and its most significant risk in the same place within the real-world asset sector. Onchain data provides transparency, but the enforcement of insurance contracts, custody of collateral, and management of claims remain dependent on offchain parties.RE investors should also examine the link between the token and protocol revenue carefully. RE does not provide a share of insurance premiums or reinsurance profits. Even if the protocol grows, there is no direct revenue-sharing mechanism that automatically transfers that growth to the token price.The supply structure creates a separate risk. As of August 2026, approximately 16% of the total supply was in circulation. Four years of ecosystem unlocks, together with team and investor vesting beginning in 2027, will steadily increase the amount of RE available in the market.The RE price is also exposed to the high volatility commonly seen in new tokens. Exchange listings, token unlocks, governance decisions, reinsurance portfolio performance, and liquidity conditions across the broader crypto market can affect the price in a short period.Protocol products also carry risks associated with stablecoins and sUSDe. A loss of price stability in an asset used as collateral, declining liquidity, or problems with the underlying yield strategy could affect the Re ecosystem.Risks on the insurance side operate differently. Higher-than-expected claims, modeling errors, insufficient reserves, and counterparty problems can cause losses across the capital tranches. Re’s own capital and the reUSDe tranche are intended to protect reUSD, but severe losses could affect every layer.Regulatory uncertainty should not be overlooked. Under Re’s European Union MiCA document, RE is classified as an “other crypto-asset” rather than an asset-referenced token, electronic money token, or utility token. Access conditions for capital products such as reUSD and reUSDe may vary by jurisdiction.Frequently Asked Questions (FAQ)Below are answers to some of the most frequently asked questions about Re (RE):What is Re, and when was it launched?: Re is a blockchain protocol that connects stablecoin capital with fully collateralized, regulated reinsurance contracts. The project was announced in 2022, while the RE governance token launched on June 18, 2026.What is the RE token used for?: RE is used in governance decisions concerning protocol upgrades, committees, technical permissions, transparency standards, and incentive policies. Participants must stake RE to vote, submit proposals, or serve on committees. RE holders do not automatically receive a share of insurance premiums, company revenue, or reinsurance profits. The token also provides no ownership rights in Re Protocol or Cover Re.Which network does Re operate on?: RE follows the ERC-20 standard on the Ethereum mainnet. Other Re Protocol products may also be available on EVM-compatible networks such as Avalanche, Arbitrum, and Base.Who founded Re Protocol?: Karn Saroya is Re’s co-founder and CEO. The project’s early founding team included Natalie Gray, Cliff White, Ben Aneesh, and Anand Dhillon. Saroya previously founded the insurtech company Cover. Cliff White is also known as one of the key founders involved in Re’s technical formation and development.What is the RE token supply?: RE has a total and maximum supply of 1 billion tokens. Of this amount, 50% was allocated to the ecosystem, 20% to core contributors, 17% to investors, and 13% to the Ecosystem Development Reserve. A total of 159.6 million RE entered circulation at the TGE. The ecosystem allocation unlocks over 48 months, while team and investor allocations will vest over 36 months following a 12-month cliff.What is the difference between RE, reUSD, and reUSDe?: RE is the governance and coordination token. reUSD and reUSDe are yield-oriented tokens that represent capital deposited into the protocol and carry different levels of risk. reUSD sits in the senior tranche of the capital structure and is designed to be affected by losses last. reUSDe occupies a lower tranche and absorbs losses earlier; in return, it offers higher potential yield and lower liquidity.Is Re a suitable investment?: Whether RE is suitable depends on an investor’s risk tolerance, objectives, and assessment of its tokenomics. Factors to consider include the token’s low circulating supply, regular unlocks, the gradual development of governance, and the absence of rights to revenue from reinsurance activities. Smart contract, insurance claims, liquidity, stablecoin, regulatory, and counterparty risks also apply. Reviewing the latest token unlock schedule, official documentation, and current market data is therefore important before making a decision about RE.Follow the JR Crypto Guide series to learn how onchain reinsurance works and track the RE token’s role in governance and the latest developments across Re Protocol.
The crypto market could see renewed volatility during the week of Aug. 11-16 as investors prepare for U.S. inflation data and several major token unlocks. Bitcoin started the week near the $65,000 level, with attention shifting to July’s consumer inflation report and its potential impact on Federal Reserve policy.Bitcoin was trading at around $65,100 on Aug. 10, while Ethereum hovered near $1,625. The reduced likelihood of another interest-rate increase following weak U.S. employment data supported a modest recovery across crypto assets. U.S. inflation could set the direction for BitcoinThe week’s most important data release is scheduled for Wednesday, Aug. 12, at 8:30 a.m. ET. Annual U.S. consumer inflation is expected to ease from 3.5% to 3.4%, while the monthly CPI reading is forecast at 0.1%. The U.S. Bureau of Labor Statistics has confirmed that July’s figures will be published on that date.A lower-than-expected reading could strengthen the view that the Fed will keep interest rates unchanged. Such an outcome may weigh on the dollar and Treasury yields, creating a more supportive environment for risk assets, including Bitcoin.Producer inflation and weekly jobless claims will follow on Thursday, Aug. 13. U.S. retail sales and the University of Michigan’s consumer sentiment index are scheduled for Friday. The preliminary August sentiment reading will offer further insight into households’ views on the economy and inflation after the index reached 55.2 in July.The Reserve Bank of Australia will also announce its interest-rate decision on Tuesday, Aug. 11. Developments in the Middle East and movements in oil prices remain another major risk, particularly because of their potential effect on inflation expectations.WLFI and altcoin unlocks enter the spotlightOne of the largest events on the crypto calendar is scheduled for Aug. 12. Approximately 6.91 billion WLFI tokens held by AI Financial Corporation are expected to become fully transferable, subject to the required conditions. At current prices, the holdings are worth around $360 million. The company disclosed the timetable in an SEC filing submitted in June.Approximately 9.17 billion PUMP and 11.31 million APT tokens are also scheduled to unlock on the same day. Another 1.32 million CONX tokens will enter circulation on Aug. 15.The week’s largest unlock relative to circulating supply will take place on Aug. 16. Around 120 million YZY tokens, currently valued at approximately $35 million, are expected to be released. Another 92.65 million ARB tokens will enter circulation on the same day. Their dollar values may change depending on price movements.Investors will therefore be watching trading volumes, exchange inflows and large-wallet activity around the unlocks. Short-term volatility could increase as the additional supply reaches the market.Finally, the second-quarter Form 13F filing deadline falls on Aug. 14. The disclosures will show how major U.S. institutional investment managers changed their Bitcoin and Ethereum ETF positions during the quarter. According to the SEC calendar, Friday is the final day for the filings.
Grayscale Investments, which manages $45 billion in assets, has withdrawn its exchange-traded fund applications for Cardano (ADA), Hedera (HBAR), and Polkadot (DOT). The three proposed products, which had been pending since late 2025, have now officially been shelved.The decision came one day before CME’s regulated ADA futures completed six months of trading history on August 9. The timing may have been a coincidence, but it did not go unnoticed by the market. Grayscale withdraws three filings in successionAccording to documents filed with the SEC, Grayscale submitted three separate Form RW notices on August 7 to terminate the S-1 registration statements for its Cardano Trust ETF, Hedera Trust ETF, and Polkadot Trust ETF.The Cardano and Polkadot applications were initially filed on August 29, 2025, while the Hedera filing followed on September 9, 2025. Grayscale had been waiting for nearly a year to move forward with the three funds.In practice, the process had stalled much earlier. The related exchange-listing proposals were withdrawn months ago. NYSE Arca pulled its Cardano listing proposal on September 29, 2025, while Nasdaq withdrew both the Polkadot and Hedera proposals on November 3, 2025.Although the S-1 registration statements remained active on paper, the mechanism required to bring the products to an exchange had already disappeared.What is behind the withdrawals?Launching a cryptocurrency ETF requires two separate SEC filings. The S-1 provides detailed information about the fund’s structure, while the 19b-4 asks the SEC to approve the exchange’s request to list the product.In Grayscale’s case, the second part of the process had collapsed months earlier. Keeping the first part active no longer served any practical purpose.Instead of waiting for a formal SEC decision, the company chose to voluntarily terminate the applications. Using the standard language included in Form RW notices, Grayscale said it would no longer proceed with the proposed distribution of shares.The filings also noted that the registration statements had never become effective and that no shares had been issued or sold.The SEC did not formally reject the applicationsGrayscale did not receive a formal rejection from the SEC for any of the three products. The withdrawals were entirely voluntary, meaning the door has not been permanently closed.If market conditions or cryptocurrency regulations in the United States change, Grayscale could submit new applications for the same products.Meanwhile, early-stage applications involving Bittensor (TAO), Aave (AAVE), BNB, Near Protocol (NEAR), and Zcash (ZEC) remain pending. The withdrawal of these three filings does not mean Grayscale has abandoned all of its altcoin ETF plans.The company appears to be narrowing its pipeline and deciding which products have a realistic path toward an exchange listing.
Developing artificial intelligence requires more than good models and large datasets. Training, inference, and verification demand substantial computing power, while much of this capacity remains under the control of a small number of cloud companies. Gensyn is trying to change this by bringing devices from around the world together in an open machine learning network.The Gensyn network enables participants to share computing resources, verify AI workloads, and handle payments through blockchain infrastructure. The project uses AI as the symbol of its native asset in official documentation, while Binance lists the token under the AIGENSYN ticker to avoid confusion with other assets.Gensyn’s Definition and OriginsGensyn is a decentralized infrastructure network created to train, verify, trade, and improve artificial intelligence systems. The project distributes machine learning workloads across different devices while seeking to verify and reward the work completed by those devices.AIGENSYN is the ticker Binance uses for the AI token within the Gensyn ecosystem. The token plays a role in network payments, verification, staking, and governance.Gensyn’s central idea is to open idle computing power to a global market. A GPU in a data center, a graphics card in a personal computer, or another compatible device can contribute to machine learning tasks when it meets the necessary technical requirements.This model aims to help AI developers access computing resources without relying exclusively on major cloud providers. Participants who supply these resources can receive economic incentives for their work.Gensyn was designed as more than a GPU rental marketplace. Its network includes separate layers for executing tasks, verifying results, enabling communication between participants, and coordinating payments.Which Network Does Gensyn Run On?Gensyn uses a dedicated rollup connected to Ethereum. According to the project’s official network description, this infrastructure is built with the OP Stack, while the AI token serves as the network’s native asset.The OP Stack is an open-source framework used to develop Ethereum-compatible rollup networks within the Optimism ecosystem. Gensyn uses this technology to create a coordination layer dedicated to artificial intelligence and machine learning workloads.The network supports tools compatible with the Ethereum Virtual Machine. This allows users and developers to interact with Gensyn through wallets, smart contracts, and other EVM tools.The rollup architecture enables transactions to take place outside the Ethereum mainnet at a lower cost. Transaction results can later be secured through an Ethereum-connected settlement structure.Why Was Gensyn Created?Gensyn emerged in response to the AI industry’s growing need for computing power. As models become larger, training and inference costs increase, while access to advanced GPU clusters becomes especially difficult for independent developers and small research teams.Existing cloud services provide powerful infrastructure, but supply, pricing, and access remain dependent on decisions made by a handful of large companies. Gensyn wants to create an alternative marketplace by combining distributed computing resources around the world within a single open network.Trust is one of the biggest challenges facing this model. In an environment without a centralized service provider, the network needs a way to prove that a device genuinely completed the machine learning task assigned to it.Gensyn addresses this problem through verification mechanisms. The network is developing a system that can check completed work and resolve disagreements between participants.The project’s broader goal is to build open infrastructure where machines can communicate and engage in economic activity. Its plans extend beyond model training to inference, information markets, and transactions between AI agents.Gensyn’s History: Key MilestonesGensyn was founded in London in 2020 by Ben Fielding and Harry Grieve. According to the Entrepreneur First company profile, Fielding serves as CEO and Grieve as CTO.The two founders set out to develop infrastructure at the intersection of machine learning and blockchain technology. Their goal was to build a protocol in which different types of hardware could contribute to shared AI tasks and completed work could be verified without a central authority.Gensyn received backing from venture investors during its early development. Its funding rounds included participants such as Eden Block, Galaxy Digital, Maven 11, CoinFund, and Protocol Labs.In 2023, Gensyn completed a $43 million Series A round led by a16z crypto. In its investment announcement, a16z highlighted Gensyn’s goal of bringing idle machine learning capacity into a global marketplace.The round took the project’s total funding above $50 million. The capital supported protocol development, research, and the expansion of its testnet infrastructure.Testnet, Mainnet, and Exchange ListingsBefore launching its mainnet, Gensyn tested user participation through several testnet applications. RL Swarm and BlockAssist were among the most prominent products from this period.RL Swarm allows machine learning models to work together over a peer-to-peer network. Participants can run models on local devices, share training results with other nodes, and contribute to the performance of the wider group.BlockAssist relies on users providing feedback to AI models in a game-like environment. Along with testing the technical infrastructure, these applications helped expand the Gensyn community.Gensyn opened its public testnet in March 2025. Participants could create network identities and contribute to machine learning tasks. Expectations emerged that points earned through testnet activity might lead to a token distribution, although the project stressed that not every testnet reward carried economic value.The project held a public sale for the AI token in December 2025. This sale became an important step in the mainnet preparations, introducing the token’s roles in payments, staking, network security, and governance.The Gensyn mainnet went live in 2026. The AI token subsequently began trading across centralized and decentralized markets.Binance introduced the AIGENSYNUSDT perpetual futures contract on April 29, 2026. Spot trading followed on May 14, 2026, with the AIGENSYN/USDT, AIGENSYN/USDC, and AIGENSYN/TRY pairs.The start of spot trading was postponed by several hours because of an issue with the project team’s deposit node. Binance later opened trading at 17:00 UTC and applied its Seed Tag, which is used for early-stage projects. The exchange also added AIGENSYN to Simple Earn, Convert, Margin, and VIP Loan.Gensyn’s Current StatusAs of August 2026, Gensyn continues working toward an open economic infrastructure for machine intelligence. Its development centers on its blockchain network, verifiable machine learning, peer-to-peer communication, and information markets.Delphi is one of the network’s main products. Introduced in April 2026, it allows users to create information markets whose results can be evaluated through AI-powered mechanisms.Market creators on Delphi can launch markets where models and users participate around a particular subject. Transactions take place onchain, while the platform aims to determine market outcomes through verifiable AI systems instead of a centralized company.AXL is another important product. This open-source communication tool allows AI agents running on different devices to reach one another without relying on a central server.AXL makes it easier for devices behind NAT or firewalls to establish peer-to-peer connections. Its support for AI communication standards such as MCP and A2A turns it into an infrastructure component that can serve applications beyond the Gensyn ecosystem.As of August 2026, the AIGENSYN coin price is trading at around $0.02. How Does the AIGENSYN Token Work?Official project sources identify Gensyn’s native token with the AI symbol. CoinGecko and several other cryptocurrency platforms also display the asset as Gensyn (AI).Binance lists the token under the AIGENSYN ticker. This helps reduce the risk of a short and widely used symbol such as AI being confused with other assets or products on the exchange.AI and AIGENSYN therefore do not represent two separate Gensyn tokens. Both names refer to the same economic asset; only the ticker used by the platform changes.Users should not rely solely on a token’s name when depositing or withdrawing funds. They should verify the network, contract address, and transfer standard supported by the exchange before completing a transaction.Fraudulent tokens using similar symbols present an additional risk. The project’s website, official documentation, and the relevant exchange’s deposit page are among the most reliable places to verify the asset. Token Utility and EconomicsThe AI token sits at the center of payments and economic incentives within the Gensyn network. It is used for machine learning verification, staking, protocol payments, and governance.Validators stake AI to check artificial intelligence workloads on the network. Participants who behave honestly can earn rewards, while incorrect or malicious behavior may result in economic penalties.AI also functions as a payment asset within the Gensyn ecosystem. Users can pay with the token when accessing network services, information markets, and AI applications.Over time, token holders are expected to participate in decisions involving protocol upgrades, core network parameters, and the use of the Community Treasury. The scope of governance may expand as the network moves toward greater decentralization.The total and maximum supply of AI is capped at 10 billion tokens. According to the official documentation, 40.4% of the supply is allocated to the Community Treasury. These funds are intended for ecosystem spending, liquidity, grants, research and development, and incentive programs.Investors received 29.6% of the supply. The team was allocated 25%, while 3% went to the community sale and 2% to testnet participant rewards. Twenty percent of the tokens allocated to the Community Treasury unlocked at the token generation event. The remaining portion enters circulation linearly over 36 months.Team and investor tokens have an initial 12-month lock, followed by linear vesting over 24 months. Tokens sold in the community sale were generally available at launch, although a 12-month lock applies to US-based participants.This schedule prevents most of the supply from entering the market on the first day. Future unlocks can still increase the circulating supply and create selling pressure on AIGENSYN.Gensyn also has a programmatic buy-and-burn mechanism that connects network revenue to the AI token economy. A portion of protocol revenue is directed to a smart contract vault that buys AI on the open market.Seventy percent of the purchased tokens are permanently burned. Another 29% is transferred to the Community Treasury, while the remaining 1% rewards the party that executes the vault transaction.The mechanism aims to establish a direct relationship between network use and token supply. Greater activity and protocol revenue may lead to more AI purchases, although the amount burned will only become economically meaningful if the network generates sustained real-world use.Transaction and Security StructureThe Gensyn protocol is organized around four main components: execution, verification, communication, and coordination. These layers allow machine learning tasks running on different hardware to be completed within a shared system.The execution layer provides a standardized framework for running tasks consistently across different devices. It aims to make results comparable even when the underlying hardware varies.The verification layer checks the results submitted by participants. It focuses on identifying incorrect or manipulated results without requiring the network to rerun the entire computation at a high cost.The communication layer allows nodes to share tasks and results over a peer-to-peer network. Tools developed by Gensyn, including AXL, help establish these connections without dependence on centralized servers.The coordination layer combines identity, incentives, and payments on the blockchain. Participants can have persistent onchain identities, allowing performance records and reputation to accumulate over time.Gensyn’s Ethereum rollup separates payment and identity transactions from the machine learning computations themselves. Resource-intensive AI workloads take place offchain, while their economic results and required proofs can be recorded onchain.This structure improves efficiency, but it does not eliminate every risk. Smart contract vulnerabilities, bridge security, incorrect verification results, and coordination problems between network participants remain potential threats.Gensyn’s Team, Community, and EcosystemGensyn was founded by Ben Fielding and Harry Grieve. Fielding serves as CEO, while Grieve serves as CTO.Fielding has an academic and technical background in machine learning. Grieve’s work across economics, blockchain, and decentralized systems contributes to the project’s protocol and economic design.The team includes more than blockchain developers. Machine learning researchers, distributed systems engineers, and specialists in crypto economics also contribute to development.Gensyn’s research focuses on decentralized machine learning and algorithmic economics. The project publishes some of its tools as open-source software, allowing independent developers to inspect the code and contribute.The open-source approach supports transparency, but it does not provide a security guarantee on its own. The frequency of audits, the speed at which identified issues are fixed, and the network’s performance under real conditions remain important.Community and Network ParticipantsThe Gensyn community expanded around applications such as RL Swarm and BlockAssist during the testnet period. Users tested the network by running nodes on personal computers or contributing to model-training processes.RL Swarm’s relatively low barrier to entry allowed users without powerful data centers to take part in some experiments. However, not every piece of hardware can provide sufficient performance for every task, and technical requirements vary by model.The community consists of more than computing-resource providers. Researchers, application developers, model creators, validators, and users of information markets also form part of the ecosystem.Gensyn’s persistent onchain identity system seeks to associate contributions with a particular user or machine. Successful task histories, model performance, and other contributions can therefore be measured over time.The system needs resistance to Sybil attacks to operate effectively. Attempts by one user to collect rewards through numerous false identities are a common problem across decentralized networks.Governance may become another important part of the community structure. The influence token holders gain over protocol changes and ecosystem resources will help indicate how decentralized the network ultimately becomes.Products, Partnerships, and Use CasesThe Gensyn ecosystem covers model training, distributed inference, communication between AI agents, and information markets. These areas share a common goal: coordinating machine activity openly and connecting it to economic value.RL Swarm provides a community-driven example of distributed model training. Multiple participants can contribute to the same learning process, while successful results are shared throughout the network.AXL provides a peer-to-peer communication layer for AI agents running on different devices. It aims to let agents reach one another without public IP addresses or centralized cloud servers.Delphi brings AI together with information markets. Users can create markets, models can compete in specific tasks, and results can be processed through onchain mechanisms.The project also prioritizes compatibility with tools across the wider Ethereum and AI ecosystems. EVM support makes it easier for developers to use existing wallets and smart contract development tools.Gensyn’s investors include a16z crypto, CoinFund, Galaxy Digital, Eden Block, Maven 11, and Protocol Labs. These relationships may provide technical or financial support, but they do not guarantee widespread adoption of the products.The ecosystem’s development will depend on external developers building applications on Gensyn. A network supported only by products created by its core team may struggle to achieve its goal of becoming open infrastructure.Why Is Gensyn Important?Demand for computing power across the artificial intelligence industry continues to increase. Limited GPU supply and the cost of cloud services widen the resource gap between small teams and large technology companies.Gensyn is working to bring unused or underutilized hardware into a single marketplace. If successful, researchers could access a broader computing pool while hardware owners earn revenue from idle capacity.The central challenge facing decentralized AI networks is establishing trust in completed computations. A blockchain can verify that a payment took place, but it cannot independently determine whether a model was trained correctly.Gensyn’s machine-learning-specific verification mechanisms become important at this point. The project aims to check results and settle disputes without repeating an entire computation.The network also seeks to provide identity and payment infrastructure for AI agents. The ability of an agent to carry its performance history, communicate with other agents, and receive payment for services may become a core requirement of a future autonomous software economy.Gensyn’s Position Among Similar ProjectsDecentralized artificial intelligence and physical infrastructure networks now include a growing number of projects. Bittensor, io.net, Akash Network, Render, and Aethir are working on computing markets, model incentives, or the sharing of GPU resources.Gensyn distinguishes itself through its emphasis on verifying machine learning work. Instead of focusing solely on hardware rental, it aims to combine execution, communication, identity, and economic coordination within one protocol.Bittensor is better known for a subnet structure that incentivizes different AI models. Render expanded from graphics processing and GPU-based workloads, while Akash focuses on general-purpose decentralized cloud services.Gensyn’s broader approach also increases execution risk. Developing distributed training, verification, agent communication, and information markets at the same time requires significant technical complexity.The project’s place in the industry cannot be measured solely through token price or the number of exchange listings. Active developers, completed machine learning tasks, demand for computing power, and application revenue provide more meaningful indicators.Competition, Token Supply, and Key RisksStrong competition represents one of Gensyn’s first major risks. Centralized cloud providers hold advantages in scale, reliability, and technical support, while other decentralized projects are pursuing the same group of users.Coordinating distributed hardware is difficult. Differences in connection speeds, GPU models, and device performance may slow training or affect the consistency of results.The verification system is another critical risk area. Malicious participants may submit incorrect results, attempt to manipulate identity systems, or exploit weaknesses in the reward mechanism.The ratio between circulating and total token supply also requires close attention. With approximately 1.3 billion tokens in circulation against a maximum supply of 10 billion, a substantial amount of AI may enter the market in the future.The 12-month lock on team and investor tokens is followed by linear vesting over 24 months. The remaining Community Treasury allocation also follows a 36-month schedule, meaning that circulating supply may increase regularly.Investors should therefore consider monthly unlocks and whether buy-and-burn activity can offset new supply, rather than looking only at the maximum supply.The AIGENSYN price is also influenced by the broader cryptocurrency market and interest in AI-related tokens. Low liquidity, high leverage, and sudden news flows can produce sharp price movements in early-stage assets.Binance’s Seed Tag highlights that Gensyn remains an early-stage asset with elevated risk. The label does not mean the project will fail, but its price and product risks may be higher than those of more established crypto assets.Regulatory uncertainty should also be considered. Token sales, staking services, decentralized computing marketplaces, and outputs generated by AI models may face different rules across jurisdictions.Frequently Asked QuestionsBelow are answers to some frequently asked questions about Gensyn.What is Gensyn, and when was it launched?Gensyn is decentralized AI infrastructure that allows machine learning tasks to run across devices around the world and verifies the completed work. Founded by Ben Fielding and Harry Grieve in 2020, the project opened its public testnet in 2025 and advanced its mainnet rollout in 2026.What is the AIGENSYN token used for?: AIGENSYN is the Binance ticker for Gensyn’s native AI token. It was designed for network payments, staking, machine learning verification, and governance.Which network does Gensyn run on?: Gensyn operates a dedicated Ethereum-connected rollup developed with the OP Stack. The network is EVM-compatible, while an ERC-20 version of the AI token also exists on Ethereum.Who founded Gensyn?: Gensyn was founded by Ben Fielding and Harry Grieve. Fielding serves as CEO and Grieve as CTO.What is the AIGENSYN supply?: AI, known as AIGENSYN on Binance, has a maximum supply of 10 billion tokens. According to market data, approximately 1.3 billion tokens were in circulation as of August 7, 2026. Supply figures and unlock schedules can change and should be checked through current sources.What is the difference between AI and AIGENSYN?: Both symbols refer to the same Gensyn token. The project and several data platforms use AI, while Binance lists the asset as AIGENSYN.Is Gensyn suitable as an investment?: Gensyn targets a technical use case within decentralized artificial intelligence, but it carries early-stage project risk, competition, token unlocks, and high volatility. Any investment decision should consider the latest token distribution, network use, developer activity, and personal risk tolerance. Gensyn is trying to combine idle computing power within an open AI infrastructure. Products including RL Swarm, AXL, and Delphi support its approach to verifiable machine learning, while real demand for computing power, developer participation, and the sustainability of its token economy will determine its long-term outcome.Follow the JR Kripto Guide series for the latest information about Gensyn and emerging projects across the AI and cryptocurrency ecosystems.
Upbit, one of South Korea’s largest cryptocurrency exchanges, announced three separate decisions concerning altcoins on the same day. The exchange is preparing to end trading support for BONK, while Synthetix (SNX) has been placed on its trading caution list. Block Street (BSB), meanwhile, has been added to three spot markets.The most significant announcement concerned BONK. Upbit decided to delist the Solana-based meme coin following a review that lasted approximately one month.BONK trading will end on September 7Upbit will close the BONK/KRW and BONK/USDT trading pairs at 3:00 p.m. Korea Standard Time, or 9:00 a.m. Turkish time, on September 7, 2026. Users will be able to withdraw their BONK holdings until October 7.The exchange first placed BONK on its trading caution list on July 7. At the time, Upbit cited shortcomings in the project’s measures against security incidents and the adequacy of its disclosures.During the month-long review period, Upbit examined the project’s explanations and the measures it had taken. However, the exchange concluded that the issues behind the caution designation had not been resolved. It therefore decided to terminate trading support for BONK.All open BONK orders will be automatically canceled when trading support ends. The delisting does not mean that users will immediately lose their holdings. However, BONK holders on Upbit will need to follow the timetable closely, as withdrawal support will end on October 7.BONK fell 8% following the announcement. SNX returns to the trading caution listUpbit also placed the SNX/BTC trading pair on its trading caution list. The review covers changes to SNX’s total supply and circulating supply plans, as well as concerns about the project’s operational legitimacy, sustainability and actual progress.SNX deposits were suspended on August 7. Upbit plans to announce the outcome of its review during the week of August 24–28.The caution designation does not mean that SNX will necessarily be delisted. Upbit could remove the warning, extend the review period or terminate trading support depending on its findings.Bithumb also placed SNX on its trading caution list at around the same time. After examining the project’s current operations and key initiatives, the exchange said it had identified several shortcomings in SNX’s utility and business performance.BSB listed on three spot marketsUpbit’s third decision of the day concerned Block Street. The exchange opened BSB trading in its KRW, BTC and USDT markets. Deposits and withdrawals are supported exclusively through the Ethereum network.Block Street develops liquidity infrastructure for tokenized assets. Its token recorded high volatility following the listing announcement, while market data showed that BSB’s 24-hour trading volume increased by more than 400%. Upbit therefore took three different approaches to altcoins on the same day: it moved to delist one asset, placed another under review and opened three spot markets for a newly listed token.
Wall Street giant JPMorgan reported that strong inflows into Hyperliquid (HYPE) exchange-traded funds (ETFs) in May and June have nearly come to a complete halt since July. According to the bank, the slowdown reflects growing concerns about the protocol’s competitive position.Sharp decline after the May-June peakAccording to JPMorgan’s report, Hyperliquid ETFs outperformed all non-Bitcoin crypto funds in May and June when inflows were measured relative to assets under management. However, this momentum largely disappeared in July and early August.In a report published on Thursday, JPMorgan analysts led by Nikolaos Panigirtzoglou said decentralized platforms such as Hyperliquid face significant challenges to their market share.Hyperliquid became one of the most closely watched crypto stories of the year as the value of its HYPE token rose rapidly. Investors showed strong interest in the protocol’s decentralized perpetual futures exchange.This growth turned Hyperliquid into one of the largest crypto ecosystems outside Bitcoin and Ethereum. Institutional capital, corporate treasury buyers and ETF issuers all began directing funds toward the protocol.Competition from centralized exchanges intensifiesJPMorgan analysts said the cooling demand partly reflects growing competition between decentralized derivatives platforms and regulated centralized exchanges. The launch of regulated crypto futures products in the United States could draw trading volume away from offshore decentralized platforms such as Hyperliquid.These platforms continue to face uncertainty around licensing, regulatory compliance and investor protection. Regulated alternatives may therefore become more attractive to institutional investors seeking greater legal clarity.The analysts also highlighted intensifying competition in prediction markets, an area Hyperliquid is exploring as it seeks to expand beyond perpetual futures trading. This segment is particularly important because trading fees remain one of the main factors supporting the token’s value.HYPE ranks fourth among corporate crypto treasuriesJPMorgan described Hyperliquid as one of the crypto market’s standout performers this year. The bank also said HYPE has become the fourth-largest asset held by corporate crypto treasuries, behind Bitcoin, Ethereum and Solana.Bitcoin is currently trading at $64,893.33, while Ethereum stands at $1,916.12. Hyperliquid, meanwhile, is trading at $55.92 after falling around 2%. Despite its strong performance, JPMorgan said it remains unclear whether Hyperliquid can continue gaining market share against larger rivals such as Solana and XRP.The report also showed that Bitcoin and Ethereum continue to dominate the crypto ETF market. Bitcoin ETFs manage approximately $77 billion in assets, while Ether ETFs hold around $10 billion.By comparison, ETFs tied to other cryptocurrencies, including Solana, XRP and Hyperliquid, manage only $2 billion to $3 billion combined.The HYPE token has lost more than 3% over the past 24 hours and is currently trading at approximately $55.30.Institutional interest still appears strong, but the arrival of regulated products from centralized exchanges could make the coming months more challenging for decentralized platforms. It also remains uncertain whether Hyperliquid’s expansion into new areas such as prediction markets can offset this competitive pressure.
Leveraged trading in the crypto market is largely limited to digital assets. Avantis aims to build a broader onchain derivatives market by adding currencies, metals, commodities, and indices alongside cryptocurrencies. At the center of the Base-based platform is the AVNT token, which serves several functions ranging from governance to protocol security.Definition and Origins of AvantisAvantis is a decentralized derivatives exchange that allows users to trade crypto assets and real-world assets with leverage. Through the platform, users can open positions linked to the price movements of Bitcoin, Ethereum, currency pairs, gold, oil, and certain indices.The platform’s primary products are perpetual futures contracts, commonly known as perpetuals. These contracts do not have a fixed expiration date; traders can keep their positions open as long as they meet the required collateral conditions.There is an important distinction here. Opening a gold or forex position through Avantis does not mean that the user owns the underlying asset. Instead, the user holds a synthetic position tied to price data supplied by oracle systems.AVNT is the ecosystem’s ERC-20 utility and governance token. It was designed to support protocol security through staking, reward users, provide access to trading fee benefits, and enable participation in governance processes. Avantis documentation explicitly states that AVNT does not represent ownership in the protocol or shares in a company.Which network does Avantis operate on?Avantis operates on Base, an Ethereum Layer 2 network developed by Coinbase. Since Base is EVM-compatible, users can connect to the platform through Ethereum-based wallets such as MetaMask and Coinbase Wallet. The Layer 2 architecture offers lower transaction costs and faster confirmation times than the Ethereum mainnet. These features matter for a frequently used derivatives exchange because transactions such as opening positions, adding collateral, and closing orders take place onchain.AVNT is also an ERC-20 token issued on Base. Its official contract address is:0x696F9436B67233384889472Cd7cD58A6fB5DF4f1AVNT is not used to pay transaction fees on Base. Users must hold ETH on the Base network in their wallets to cover gas fees.Why was the project created?Avantis Labs began developing the project in February 2023 with a two-person team. The idea emerged from the significant gap in trading volume between centralized exchanges and onchain leveraged trading platforms.According to the developers, decentralized exchanges at the time either compromised the trading experience or relied too heavily on centralized matching engines and keeper networks. Most derivatives products in DeFi also focused on crypto assets such as Bitcoin and Ethereum.Avantis aimed to address both areas within a single structure. The platform began providing exposure to price movements across cryptocurrencies, forex, metals, and commodities without requiring users to rely on a custodial service.On the liquidity side, Avantis uses a shared USDC-based structure instead of creating a separate pool for every asset. The USDC deposited by liquidity providers acts as the counterparty to trader positions. This allows the same capital to support trading demand across different markets.This structure forms the basis of the team’s long-term “Universal Leverage Layer” vision. Avantis aims to create a shared onchain leverage layer for multiple asset classes rather than remaining a perpetual DEX focused on a single type of product.History of Avantis: Major MilestonesInitial development of Avantis began in early 2023. That same year, the project raised $4 million in a seed funding round led by Pantera Capital. Founders Fund, Galaxy, Modular Capital, and Coinbase-backed Base Ecosystem Fund also participated in the round.The team launched its public testnet in November 2023. According to figures shared by Avantis, the test period recorded billions of dollars in trading volume and hundreds of thousands of transactions within its first few months. Since these figures primarily reflect testnet activity rather than real capital, they should not be evaluated in the same way as mainnet performance.Avantis launched its beta version on the Base mainnet on February 2, 2024. During the initial phase, the platform offered approximately 20 trading pairs tied to cryptocurrencies, G10 currency pairs, gold, and silver. It also introduced Loss Protection, a system that provides loss rebates to traders who help improve the balance of open positions. Avantis’ 2023 review and mainnet announcement contain further details about this early period.The project later completed a second funding round to support its growth. An $8 million Series A round co-led by Founders Fund and Pantera Capital was announced in June 2025, bringing the project’s disclosed total funding to $12 million. The capital was reportedly allocated to product development, new asset classes, and the Avantis V2 infrastructure.AVNT launch, airdrop, and exchange listingsThe Avantis Foundation’s token page shows that the AVNT contract was created on April 23, 2025, while trading began on September 9, 2025. The token entered the market alongside its first airdrop, which targeted early traders, liquidity providers, and community members.A total of 12.5% of the token supply was allocated to the first airdrop. This allocation covered users who participated in the protocol’s first two reward seasons beginning in February 2024, as well as certain community contributors. The entire airdrop allocation was unlocked at the token launch.Binance added AVNT to its Alpha platform on September 9 and launched an AVNT/USDT perpetual futures contract. The exchange later listed the AVNT/USDT, AVNT/USDC, and AVNT/TRY spot trading pairs on September 15. Binance stated in its announcement that AVNT was initially classified among new assets carrying a high volatility risk.AVNT was later listed on Coinbase, Bybit, OKX, Gate, Kraken, and several other centralized exchanges. It is also available through decentralized markets on Base, including platforms such as Aerodrome. Available trading pairs and withdrawal networks may vary between exchanges.Recent developments and roadmapAs of August 2026, Avantis is preparing to release its V2 version. According to an announcement shared by Base, the V2 rollout is scheduled to begin on August 12. The new version includes broader access to real-world assets, zero-fee trading options, and infrastructure changes intended to improve capital efficiency. Since the rollout is expected to take place in phases, users should not assume that every feature will become available to everyone on the same day.Market data shows that AVNT experienced considerable volatility following its launch. As of August 2026, approximately 334.8 million AVNT tokens are in circulation. The token’s market capitalization stands at around $27 million, while the protocol’s total value locked is approximately $21.5 million.AVNT reached an all-time high of $2.64 on September 21, 2025. At the beginning of August 2026, the AVNT coin price was hovering around $0.08. How Does the AVNT Token Work?AVNT’s first use case relates to protocol security. Token holders can stake their AVNT in the Security Module, providing an additional layer of protection for Avantis liquidity pools.The profits and losses of traders on Avantis directly affect the condition of the USDC liquidity pool. If the pool’s protection buffer becomes insufficient during extraordinary market movements, part of the staked AVNT may be slashed to cover losses suffered by liquidity providers. Official documentation limits the theoretical slashing rate to a maximum of 20% of the staked amount.In return for taking on this risk, stakers may receive AVNT rewards, XP boosts, and trading fee discounts. Staking should therefore not be viewed as a risk-free yield product; even if the likelihood of slashing is low, it cannot be eliminated entirely.AVNT was also designed as a governance token. Token holders are expected to vote on matters such as adding new assets, changing the fee model, expanding to other networks, and developing new products. However, the Avantis Foundation states that governance will be introduced gradually. It would therefore be inaccurate to claim that every AVNT-related decision is currently managed through a fully decentralized DAO.The token also supports community incentives. Traders, liquidity providers, referral program participants, and ecosystem developers can earn AVNT through certain campaigns.AVNT supply and tokenomicsAVNT’s initial and maximum supply was set at 1 billion tokens. The distribution of this supply and the schedule under which the tokens enter circulation are important factors for the token’s long-term market structure.According to Avantis Foundation data, 28.6% of the supply was allocated to onchain incentives. The first airdrop received 12.5%, while developer and ecosystem grants were allocated 9%. Together, these three community-, user-, and developer-oriented categories account for 50.1% of the total supply.Investors hold a 26.6% allocation. The team and advisers received 13.3%, while the Foundation and liquidity reserve were allocated 2% and 8%, respectively. The first airdrop allocation was fully unlocked at launch. Team and investor tokens are subject to a 12-month lock-up period, followed by 30 months of linear vesting. Onchain incentives and ecosystem grants also enter circulation gradually under specific programs.At the beginning of August 2026, approximately one-third of the maximum supply was in circulation. Future token unlocks could increase the amount available on the market. If demand does not grow at the same pace, the additional supply could put pressure on the price. Investors should therefore consider the circulating supply ratio and unlock schedule alongside the maximum supply.Although AVNT has a fixed planned supply, the protocol also uses a buyback-and-burn model. Burned tokens cannot re-enter circulation, but the effect on price depends on factors such as trading volume, protocol revenue, and overall market demand.Security Module and the buyback-and-burn mechanismAvantis uses an oracle-based synthetic trading structure. Instead of matching buyers and sellers as a traditional exchange would, orders are opened against the protocol’s USDC liquidity pool. Prices come from independent data feeds supplied by Pyth Pro and Chainlink.Using two price sources aims to reduce reliance on a single potentially faulty or manipulated data feed. However, it cannot completely eliminate risks such as oracle delays, market closures, sudden price gaps, or network issues. Avantis states that both Pyth and Chainlink data are checked during trades.Zellic and Zokyo audited the protocol’s live smart contracts, while Chaos Labs worked on its risk parameters. Audits can reduce code-related risks, but they cannot guarantee protection against future vulnerabilities or economic attacks.Another mechanism involving AVNT is the systematic buyback-and-burn program introduced in March 2026. Avantis began allocating 30% of its daily protocol revenue from opening, closing, and profit-related fees to purchasing AVNT from the market and burning it. Margin fees are directed to the liquidity pool to protect liquidity providers.This model reduces the token supply in line with actual protocol usage. However, buybacks also decrease when trading volume and revenue decline. The burn program alone does not guarantee consistent demand or price appreciation. Why Is Avantis Important?One of Avantis’ most notable features is its ability to bring different asset classes together within the same USDC liquidity infrastructure. Instead of creating a separate real asset onchain for every currency, commodity, or index, the platform tracks their price movements through synthetic perpetual contracts.This approach simplifies capital use and allows users to access several markets through a single wallet. In return, traders do not receive ownership of the underlying assets, dividends, or any associated legal rights.The platform’s Zero-Fee Perpetuals model also differs from conventional fee structures. In eligible markets, users do not pay a fixed entry fee when opening a position; instead, Avantis takes a share from trades that close at a profit. The exact terms may vary depending on the asset and market conditions.The Loss Rebates system can reimburse up to 20% of the losses incurred by traders who take positions against the more crowded side of the market, provided that certain conditions are met. The system aims to reduce imbalances between long and short open interest. Avantis also uses a positive slippage mechanism that offers better entry prices for some trades that help improve market balance.Avantis Team and CommunityThe founding team of Avantis includes CEO Harsehaj Singh and CTO Brank D. Singh previously worked on technology mergers and acquisitions at Lazard before joining Pantera Capital as an investor. Brank D. leads the platform’s technical and trading infrastructure.Lumena Labs conducts the protocol’s core development work. The involvement of Base Ecosystem Fund as an early investor positioned Avantis among the derivatives projects established on Base during the network’s early development.Pantera Capital, Founders Fund, Galaxy, Modular Capital, Symbolic Capital, SALT Fund, and Flowdesk are among the organizations that invested in the project. Pyth Network and Chainlink contribute to its price data infrastructure, while ecosystem grants support teams developing new interfaces and applications using the Avantis SDK.The allocation of more than 50% of the total supply to airdrops, onchain incentives, and developer grants places community participation at the center of the token economy. However, a large community allocation does not mean that control has been fully transferred to token holders. The scope of governance and the Foundation’s authority should continue to be monitored.Competition, smart contract, and volatility risksSince Avantis offers high leverage, liquidation is one of its primary risks. Even a small price movement can rapidly close a position and wipe out a large share of the collateral, particularly when leverage ratios such as 100x or 500x are used.Liquidity providers do not earn risk-free returns either. The pool may incur losses during periods when traders are profitable overall. The Security Module and risk buffers aim to limit this pressure, but the possibility of losses remains under extraordinary conditions.Smart contract vulnerabilities, oracle failures, Base network outages, bridge-related problems, and governance decisions are among the other technical risks. Audit reports provide a positive signal, but they cannot identify every possible vulnerability in a DeFi protocol in advance.For AVNT specifically, investors should closely monitor token unlocks, team and investor allocations, and changes in protocol revenue. Buybacks may remain limited during periods of low trading volume. The platform also operates in a highly competitive market that includes Hyperliquid, dYdX, GMX, and several other perpetual DEXs.Its price history further illustrates the level of risk. AVNT’s decline of more than 90% from its all-time high shows that strong investor backing and product usage alone have not been enough to protect the token’s market value.Frequently Asked Questions (FAQ)Below are answers to some of the most frequently asked questions about Avantis (AVNT).What is Avantis, and when was it launched?: Avantis is a Base-based decentralized exchange offering synthetic perpetual trading across cryptocurrencies, forex, metals, commodities, and indices. Development began in 2023, and its mainnet beta launched on February 2, 2024. AVNT trading began on September 9, 2025.What is the AVNT token used for?: AVNT was designed for staking, protocol security, user rewards, trading fee discounts, and governance. A portion of the tokens staked in the Security Module may be slashed if the protocol faces an extraordinary liquidity shortfall.Which network does Avantis operate on?: Avantis and the AVNT token operate on Base, an Ethereum Layer 2 network. Since AVNT is an ERC-20 token, it can be stored in Base-compatible wallets. Network transaction fees are paid in ETH rather than AVNT.Who founded Avantis?: The project’s founding team includes CEO Harsehaj Singh and CTO Brank D. Lumena Labs conducts the core development work behind Avantis.What is the AVNT supply?: AVNT has an initial and maximum supply of 1 billion tokens. According to CoinGecko data, approximately 334.8 million AVNT were in circulation as of August 3, 2026. This figure may change over time due to ongoing token unlocks and burn transactions.Is Avantis suitable for investment?: Whether AVNT is a suitable investment depends on the individual’s risk profile and research. Protocol usage, revenue, token buybacks, and RWA products are among the potentially positive factors worth monitoring. Investors should also consider high volatility, token unlocks, competition, risks associated with leveraged products, and potential smart contract vulnerabilities.Follow the JR Kripto Guide series for the latest information about Avantis’ RWA-focused derivatives market and new developments within the Base ecosystem.
