on-chain

The on-chain insurance protocol Firelight, based on the Flare network, announced on October 15 that its on-chain insurance has launched the Protected Strategies USDC vault for Kraken DeFi Earn, providing a collateral-backed compensation mechanism for specific protocol failures. The independent manager of the vault, Sentora, insures the vault, not Kraken itself. Depositors do not need to actively choose to participate, but there are conditions attached to the insurance: Kraken discloses that the compensation limit for each deposit address during each insurance period is $100,000, and the total compensation amount is also constrained by the overall vault limit and available capital. Compensation is issued by Sentora in USDC to eligible wallets, and Kraken does not provide funds or guarantees.Firelight lists six types of failures that are eligible for compensation: smart contract vulnerabilities, oracle failures, governance attacks, and bad debts, de-pegging, or redemption failures caused by protocol mechanism failures. Insurance only applies to markets and positions recorded during the insurance period. Normal fluctuations, normal liquidations, de-pegging that operates as designed during redemption, and withdrawal delays caused by high organic utilization are excluded; insider theft, stolen private keys, phishing, and regulatory actions are also not covered. The trigger conditions for redemption failure are if the insured position cannot be withdrawn for more than 72 consecutive hours, or if the amount returned after deducting disclosed fees is less than 90% of fair value. Compensation does not require depositors to file claims themselves, as it is determined by a five-member risk committee through a three-fifths majority vote.On-chain records show that the insurance scale marked as "Kraken DeFi Protected" is $30.5 million.

According to on-chain intelligence platform Arkham, the total value of on-chain assets held by Ethereum co-founder Vitalik Buterin is approximately 530 million USD, of which 527.81 million USD is in ETH, distributed across multiple addresses (including vitalik.eth).The remaining assets include 1.76 million USD in Aave LUSD, 478,000 USD in ZCHF, and 346,000 USD in WHITE.

X-Agent released the latest technical article "From Agent Payments to an Onchain Personal Assistant," revealing the important product direction for the next phase: moving from Agent Payments to an Onchain Personal Assistant that can understand user intent, obtain authorization, execute on-chain operations, and continuously track results.Unlike simply allowing the AI Agent to "have a wallet," X-Agent aims to solve a more critical issue: how to enable the Agent to safely complete an on-chain task on behalf of the user. For example, when a renewal bill arrives, the AI assistant can understand the bill, verify the payee and amount, generate a payment plan, and complete the transaction after user authorization; even if there are timeouts or interruptions during the process, it should resume the original task and check the payment status, rather than blindly repeating the payment. After the payment is completed, the Agent also needs to continue confirming whether the service purchased by the user has truly been delivered.To achieve this goal, X-Agent plans to further connect the three major modules: Agent ID, Agentic Email, and Agentic Wallet, which will respectively handle identity and responsibility attribution, task and communication entry, and controlled on-chain fund execution. Through mechanisms such as payment pre-calculation, one-time authorization, budget control, recovery, and reconciliation, clear security boundaries will be established for the Agent's autonomous execution. Its core logic can be summarized as: user intent → clear authorization → on-chain execution → result verification.X-Agent believes that a true on-chain AI assistant is not just "initiating a transaction on behalf of the user," but is capable of continuously completing tasks and being accountable for the final results under controlled permissions. This also means that X-Agent is exploring a persistent on-chain AI assistant aimed at individual users, moving beyond the infrastructure of Agent payments.

OAK Research researcher Lilian Aliaga wrote that the on-chain options protocol Derive (formerly Lyra) has a nominal trading volume of $14.22 billion since January this year, approximately 2.6 times that of the entire year of 2025, accounting for nearly 75% of the on-chain options nominal trading volume and 88.1% of the paid premiums. The nominal trading volume in September was $3.43 billion, and it has exceeded $1 billion in the first week of October.The article states that Derive completed its V3 migration on October 6, 2026, abandoning its own chain and opting for zero-knowledge applications to settle directly on Ethereum, planning to become an options engine accessible to other applications. V3 introduces mutually isolated risk domains, including Prime covering BTC and ETH, an independent HYPE domain, an Alt domain covering SOL, XRP, ZEC, and DOGE, and an RWA domain covering tokenized gold.According to the article, Derive launched V2 in December 2023, replacing automated market makers with an order book as the main source of liquidity, and will launch portfolio margin in February 2024; Lyra will be renamed Derive in August 2024, and DRV will be launched in January 2025. In October 2025, FalconX became the publicly confirmed institutional market maker quoting on Derive, with collateral retained on its own side and positions represented on-chain in fxUSDC.

According to the official announcement, the Osmosis community forum has initiated a discussion on the proposal to "Terminate OSMO Inflation Issuance." The proposal aims to stop the mint module from daily issuing OSMO, with staking rewards coming entirely from protocol revenue; based on the current burn rate, approximately 2% of the OSMO supply is destroyed each year, and there will be no new issuance to hedge.The target date for the proposal to go on-chain is October 20, and the daily vesting release for developers will also be paused. There are approximately 51.9 million OSMO remaining in the vesting module account, and any future releases will require a separate governance decision.

According to CryptoQuant analyst nocoffeenobrain's monitoring, Bitcoin holdings aged 1-3 years and over 3 years showed signs of activity as early as the end of September, when the BTC price rose from the mid-$70,000s to the mid-$80,000s.Recently, Ledger was hacked, prompting a large number of users to migrate their assets to new signers and change their mnemonic phrases. It is expected that the 7-day moving average will further rise in the coming days. Analysts pointed out that similar patterns have occurred before—during the period from January to February this year, when BTC fell from the mid-$90,000s to the mid-$60,000s, and during the period from July to August when BTC fluctuated in the mid-$60,000s, both of the aforementioned holding age segments showed synchronized activity.

The stablecoin infrastructure platform Interlace announced a joint initiative with multiple industry partners, including OSL, AllScale, Stable, Hetu, Cregis, WIDTH, KEM, and KTX, to launch the white paper titled Stablecoin Payment Infrastructure: From On-Chain Settlement to Real-World Payments. As stablecoins evolve from crypto-native financial instruments into global financial infrastructure, stablecoin payment activity is also growing rapidly. In Q1 2026, stablecoin transaction volume exceeded $28 trillion, while stablecoin B2B payments reached $226 billion in 2025, representing a 733% year-over-year increase. However, as stablecoin payments expand into real-world commercial use cases, the industry still lacks a systematic framework for defining the capabilities covered by stablecoin payment infrastructure and how on-chain assets can be connected with real-world commerce. The white paper will focus on this gap, covering key topics such as stablecoin payment infrastructure, end-to-end costs, compliance and risk management, and enterprise-scale adoption. Drawing on industry data, practical experience, and real-world cases, it will further explore the development path of stablecoin payment infrastructure. The full white paper is expected to be officially released within the next 1-2 months.

Recently, the police in Binhai City, Shandong, China received a report from a citizen named Xie, stating that 1,300 USDC stablecoins and NFTs worth tens of thousands of yuan had mysteriously disappeared from his digital wallet. There were no obvious transfer alerts or signs of phishing links in the wallet. The police began an on-chain investigation into the virtual currency transfer records and actively sought cooperation with enterprises to analyze the suspect's account.After extensive work, a major suspect named Chen (30 years old, from Fengyang County, Chuzhou, Anhui) was identified. On October 9, technical police officers went to Fengyang County to arrest him. Upon arrival, Chen initially denied the allegations. However, the police utilized the immutable and traceable characteristics of blockchain evidence to gradually break down his psychological defenses. Chen ultimately confessed to the theft. Chen has now been criminally detained in accordance with the law, and his family has actively compensated the victim for the losses. This case marks the first instance of virtual currency theft in Binhai City.

According to The Defiant, trading firm DRW executed a total return swap with Marex on the Canton network through Derivnex, referencing the on-chain corporate bond benchmark from S&P Dow Jones Indices. S&P Dow Jones Indices announced this transaction with Kaiko on October 13.The swap was provided by Marex, with DRW as the counterparty, referencing the iBoxx USD Liquid Investment Grade Index, which tracks investment-grade corporate bonds that are dollar-denominated and have good liquidity. The swap provides both parties with exposure to the index without holding the underlying bonds. The transaction will synchronize events such as valuations during the contract's duration between both parties, and plans to migrate margin, collateral, and contract payments to the same infrastructure will be advanced in subsequent phases.Kaiko's tokens combine benchmark data with access permissions and usage rules, retaining the authorized control of S&P Dow Jones Indices, and distributing signed official index values for Derivnex to use for valuation. Derivnex expresses the transaction terms in the form of Canton smart contracts and introduces a universal domain model standard for derivatives trading. DRW founder and CEO Don Wilson stated that both parties can "work off the same record, thereby simplifying the process," and noted that once cash and collateral flows are integrated, more transactions are expected to achieve greater efficiency.

According to CoinDesk, asset management company Federated Hermes, with a management scale of 911 billion dollars, plans to launch its first batch of on-chain fund shares early next year, further participating in Wall Street's push to bring traditional assets on-chain.Federated Hermes has partnered with digital securities infrastructure company Prometheum to introduce blockchain-based fund shares into traditional brokerage accounts and financial advisor channels. The company has not yet disclosed the specific types of tokenized funds and the blockchain network used, but its head of digital asset products and platforms, Kevin Barr, stated that money market funds may become the first tokenized products.

Hedera, a public blockchain, has launched Agent Accounts, described as programmable, non-custodial spending accounts that allow AI agents to autonomously transact within rules set by users and enforced on-chain. This includes payment APIs, data retrieval, invoice settlement, and purchasing on behalf of users, with private keys remaining in the user's wallet.Agent Accounts are funded from the user's existing Hedera wallet and are created separately for designated agents, rather than handing over the entire account to the agent. Users connect their wallets through a web application, designate agents, and configure total spending limits, daily caps, single transaction limits, and whitelists for merchants and payees. The rules are written into Hedera smart contracts and are not stored on company servers, making them unmodifiable by anyone other than the user. Funds do not leave the user's account before a purchase occurs; agents do not hold balances but send spending requests to the smart contract, which validates and executes them. Users can pause or revoke agent spending with a single click from their wallet.This feature is supported by Agentic Payment Services, including MCP server, REST API, and relayer. Hedera states that any agent capable of using MCP or REST can connect, with payments available in HBAR, USDC, or other Hedera tokens, and compatible with x402. Each strategy, transaction, and agent action is recorded on the Hedera Consensus Service. The timeline aims for a limited partner testnet launch in Q4 2026, a public testnet in Q1 2027, and a target mainnet launch in Q2 2027, depending on security audits and legal agreements.

Web3 security platform Blockaid co-founder Ido Ben-Natan posted on the X platform that since the release of the first half report in August, the number of on-chain cybersecurity incidents has continued to reach historical highs month by month. Attackers, motivated by profit, find that attacking on-chain infrastructure offers the highest return for hackers, and this trend will become even more severe as the funds callable by AI agents increase.According to Fortune, Ben-Natan stated that the company is currently in its "busiest ever" state, one reason being the significant increase in hacker attacks. Additionally, Nansen CEO Alex Svanevik predicted that by 2028, trading cryptocurrency assets through AI agents rather than manual interface clicks will become the norm.

The blockchain data platform Arkham stated on platform X that it has tagged the wallet addresses of Justin Sun across 10 blockchains, with on-chain assets totaling approximately $2.25 billion.Arkham added that in a ranking released in September, the platform's research team listed Justin Sun as the individual holder with on-chain holdings second only to Bitcoin founder Satoshi Nakamoto.

Robinhood Chain's on-chain activity continues to cool down. According to CoinDesk's calculations based on growthepie data, from October 2 to 8, the network's average daily transaction volume was 6.2 million, a decrease of 42% compared to 10.8 million from September 10 to 16, and a drop of 20% from the previous week; during the same period, the average daily active addresses were about 322,000, down 31% from mid-September. Robinhood launched this chain in July, allowing users to trade tokens and lend through applications connected to Ethereum, and plans to introduce around-the-clock trading of tokens linked to stocks and funds.Transaction volume has also declined. From October 2 to 8, the spot trading volume fell to $7.45 billion, down 21% from the previous week's $9.46 billion, with Uniswap handling about 77% of it. However, funds have not fled; on-chain lending and trading application deposits increased by about 2% week-over-week to $1.04 billion, and the supply of stablecoins rose to about $1.1 billion. Perpetual contract trading volume, on the other hand, grew against the trend by 26% to about $7.35 billion.Fee income has shrunk accordingly. During that week, users paid an average of about $65,000 in network fees daily, a decrease of 39% from the previous week, far below the peak of $8 million per day at the beginning of September. According to a report by Bernstein last month, Robinhood retains about 90% of network fees.

On-chain analyst Specter stated that there have been multiple reports of Ledger user wallets being stolen recently on X and Reddit. After tracking the related theft addresses, it was found that the funds came from hundreds of victim wallets, involving multiple mainstream blockchains such as Ethereum, TRON, and Bitcoin, with total losses exceeding 86 million dollars.Currently, the analyst has disclosed several involved addresses, but the reasons for the attacks, the specific number of affected individuals, and whether Ledger has any security vulnerabilities have not yet been confirmed. At this stage, the information mainly comes from on-chain tracking and community reports, and further verification is still needed.

Co-founder of Glassnode, Rafael Schultze-Kraft, stated based on on-chain data that approximately 6.26 million BTC public keys have been exposed, accounting for 31.2% of the current supply, up from 24.8% at the beginning of 2021.Among them, about 4.33 million were exposed due to address reuse, and approximately 1.94 million are related to script types. He emphasized that this statistic does not indicate that quantum attacks are realistically feasible, nor can it be used to assess the security status of exchanges or custodians.

Decentralised.co published a discussion on the path of stock tokenization, stating that the exposure to on-chain stocks held by traders and investors through tokenization and synthetic perpetual contracts has exceeded 6 billion dollars. The total market size of on-chain stock tokens is 3.21 billion dollars, with a 10% increase over the past 30 days; the open interest of perpetual contracts for stocks, indices, and ETFs on trade.xyz is 3.01 billion dollars, accounting for 94% of the total stock token market size.The process of stock tokenization is divided into four stages: initially, it is mostly offshore packaged certificates, followed by becoming collateral, then brokers tokenizing the shares that users already hold, and finally, the company registering the shares themselves on-chain. Most stock tokens are debt certificates that do not include voting rights or ownership of shares. Taking Robinhood as an example, after the related entity purchases shares and they are held by a custodian, it issues debt securities corresponding to one share to users, with dividends reinvested and stock splits adjusting the number of shares represented; if the issuer fails to perform, the securities agent will sell the shares and pay the holders, while the issuer can only maintain the price through arbitrage within a limited time frame.The market size of the top 100 tokenized stocks increased from 2.09 billion dollars to 3.03 billion dollars within 90 days, and the number of holding addresses grew from 417,000 to 4.21 million, with Binance and Robinhood contributing 86% of the new addresses. About 97.5% of the addresses hold less than 100 dollars, with exchanges and large wallets holding most of the value. The borrowing rates for collateralized loans against related stock tokens on Kamino, Jupiter Lend, and Ether.fi are approximately 4% to 5.75%.

User obchakevich_ published 23 months of on-chain data for MoonPay Commerce, a subsidiary of the payment company MoonPay, covering the period from November 2024 to September 2026. MoonPay announced the acquisition of the payment service Helio on January 13, 2025, which was later renamed MoonPay Commerce, with products still operating under the pre-acquisition smart contracts; the parties did not disclose the price, but Fox Business reported it to be $175 million, while Fintech Futures referred to it as an all-equity transaction. Helio was founded in London in 2022 and claimed to have over 6,000 merchants and cumulative transactions exceeding $1.5 billion at the time of acquisition, integrating with Discord, Shopify, and WooCommerce.The on-chain transaction volume three months before the acquisition was $100.3 million, with fees of $1.08 million, resulting in an annualized fee of about $4.3 million, with the reported price being approximately 40 times that annualized fee. The total transaction volume for the entire year of 2025 was $141.9 million, with fees of $1.59 million; the transaction volume over the past 12 months was $90.7 million, with fees of about $930,000, making the reported price approximately 190 times the latter. Monthly transaction volume decreased from $39.8 million in January 2025 to $9.6 million in March, and $7.3 million in September 2026, with an effective fee rate maintained between 1.05% and 1.20% over the 23 months.

The tokenized asset platform Securitize announced the launch of Securitize Stocks, providing on-chain trading access to a portion of U.S. stocks for qualified investors in the U.S., EU, and other approved jurisdictions. The first batch of underlying assets includes securities corresponding to AAPL, MSFT, NVDA, GOOG, TSLA, META, AMZN, NFLX, CRCL, SPCX, MSTR, and PLTR, initially traded on Solana through its registered broker-dealer and settled in USDC.Securitize stated that each token is backed 1:1 by the underlying shares and represents a security interest under Section 8 of the U.S. Uniform Commercial Code, retaining dividends and voting rights where applicable, and the shares supporting the tokens will not be lent out. The product adopts a convertible equity token structure, allowing investors to convert their security interests into shares registered on the issuer's transfer agent's roster after the issuer-led tokenization is advanced. Secondary market trading is provided in a regulated manner through its broker-dealer, without relying on exemptions, and is consistent with the U.S. Securities and Exchange Commission's guidelines on tokenized securities.The product is also expected to trade in the 24/7 digital trading venue being developed by the New York Stock Exchange, as well as in the tokenized securities trading venue OKXICE, in collaboration with Intercontinental Exchange, depending on the venue's launch and related regulatory and operational requirements. Upon launch, Jump Trading will act as the market maker through Securitize's existing Solana PropAMM; the initial trading period will cover extended hours, with plans to gradually expand to all-day trading. Ripple Prime plans to support the product launch.