protocol

MistTrack (@MistTrack_io) disclosed that following the nearly $1.2 billion stolen funds from last year's Bybit $1.46 billion hacking incident being transferred via THORChain, Bitget has recently experienced another significant security incident, with stolen funds suspected to have again flowed through THORChain. In response, THORChain officials stated that their protocol, like Bitcoin, Ethereum, and BNB Chain, belongs to a decentralized, permissionless network.

According to data from Defillama, Pump.fun's revenue in the past 24 hours reached 1.96 million dollars, surpassing Hyperliquid's revenue of 1.86 million dollars in the past 24 hours, only behind Tether (17.55 million dollars) and Circle (7.35 million dollars).

The Sui ecosystem decentralized finance protocol AlphaFi announced the initiation of an orderly shutdown procedure. It has now entered maintenance mode, halting new deposits and loans. Existing users can still close positions and withdraw assets.Previously, some loan positions in AlphaLend that used ALPHA as collateral experienced severe under-collateralization, leading to bad debts for the protocol. Currently, the related bad debts have been fully covered, and the protocol is solvent, ensuring user fund safety. AlphaFi will continue to cooperate with the Sui Foundation to investigate and recover related debts, and will officially exit the Sui ecosystem after the last user completes their withdrawal.

Aerodrome's Slipstream V3 has been launched, introducing protocol-level internal MEV auctions in concentrated liquidity AMMs, distributing the value captured by sandwich bots and arbitrageurs to active liquidity providers and sAERO token holders. The protocol expects related revenue to reach tens of millions of dollars.This version also introduces dynamic fees, automatically increasing fees during market volatility, and continues the concentrated liquidity design of Uniswap V3, achieving capital efficiency up to 4000 times that of traditional AMMs.Aero plans to integrate Aerodrome on Base with Velodrome on Optimism into a single AERO token, set to launch on the Ethereum mainnet in the second quarter of 2026; Aero Lite has launched the Slipstream pool on Circle's Arc, and Dromos Labs is developing pool-level fee rebates and KYC options for institutional clients.

Market prediction protocol functionSPACE announced the completion of a $1.7 million Pre-Seed round of financing, aimed at building economic primitives for pricing numerical outcomes. This round of financing was led by Maven 11 Capital and Blockwall, with participation from Smape Capital.

NEAR Protocol posted on platform X that the NEAR platform has launched a privacy limit order feature, supporting assets from any blockchain.Users can set a target price, and when the market price reaches the target price, the order will be executed automatically. The order will not be publicly displayed while waiting to be executed.

On-chain derivatives protocol Derive announced on X that a new governance proposal has been launched on the Derive forum, aiming to increase the proportion of protocol revenue allocated to DRV buybacks to 50%.Derive stated that community members can review the proposal and share their opinions, and the relevant discussion is now open. DRV is the protocol token of Derive, and this proposal involves the allocation ratio of protocol revenue used for token buybacks.

B.AI announced a major upgrade to its Responses API, which is now fully compatible with upstream standard protocols. Existing models on the platform can be uniformly called through the /v1/responses interface as long as they support the Responses API.At the same time, when B.AI adds new models from integrated vendors in the future, developers will not need additional configuration to automatically and seamlessly integrate them into the Codex client. In this upgrade, the official API full set group adds support for MiMo, Qwen, and Hunyuan series models, while the Mix and OL Station optional service provider group adds support for OpenAI, Gemini, and Grok series models.Developers only need to complete the minimal configuration of the API Key and Base URL to integrate the capabilities of various models into their daily workflows.

The on-chain derivatives protocol Variational announced that the Token Generation Event (TGE) for the token $VAR is scheduled for the fourth quarter of 2026. The initial token distribution includes 32% genesis allocation, 18% ecological reserve, and 50% for team and investor shares. The genesis tokens will be airdropped according to the proportion of Variational points held and will be 100% unlocked at TGE; the ecological reserve will be retained by the Variational Foundation for ecological growth and distributed at its discretion.The team and investor tokens will be locked for 12 months after TGE, followed by a minimum unlocking period of three years. Team members are also subject to individual vesting arrangements, and the specific shares for both parties will be announced before TGE. Variational stated that it plans to use all revenue directed to the treasury for the repurchase and destruction of $VAR. Weekly point distribution will continue until TGE, with 150,000 points distributed each week; accounts must hold at least 1 point to qualify for signing terms and receiving the genesis allocation, and any unclaimed portion will be destroyed.Variational originally planned to end the points program in the third quarter of 2026 and subsequently launch $VAR, but this timeline has been delayed due to significant strategic partnerships. In the final weeks before TGE, the project will conclude private testing, launch Omni on the public mainnet, expand exchange functions, and release trading APIs, while also announcing details on repurchase and token usage, and disclosing the impact of new partnerships on Omni, Pro, and traditional financial markets on-chain when conditions permit.

According to PR Newswire, the on-chain yield protocol infiniFi announced the completion of a new funding round exceeding $3 million, led by Electric Capital, with participation from New Form Capital, Generative Ventures, Fasanara Capital, 2Square, 4th Revolution Capital, DCFGod, The Rollup, and others. The token generation event will take place in the fourth quarter of 2026, and the funds will be used for protocol development, new integrations, multi-chain expansion, and product promotion.infiniFi ended its stealth mode in February 2025 and completed a $3 million pre-seed funding round, launching in June of the same year; the total raised from pre-seed and seed rounds exceeded $6 million. The protocol has expanded to Ethereum, Arbitrum, Katana, Base, and has collaborated or integrated with Ethena, Pendle, Morpho, Aave, FalconX, Curve, Euler, and others. Since its launch, it has generated over $9 million in revenue, with a historical TVL peak of $180 million, currently exceeding $50 million.Founder and CEO Rob Montgomery stated that this round of funding will continue to advance the mission of enabling ordinary people to earn dollar yields and expand distribution through the upcoming infiniFi Prime, enriching yield sources.

According to the latest data from Reality, the trading activity of its NVIDIA stock token (rNVDA) has surged, with a single-day trading volume reaching 38.86 million USD, setting a new high since its launch.It is reported that the rToken, identified by the letter r + stock code (for example, NVIDIA is rNVDA), is issued by Reality, a licensed RWA protocol under Bitget, and connects directly to global liquidity pools such as NASDAQ and NYSE through collaboration with the compliant brokerage Alpaca.Its features include: 1:1 reserves of underlying assets managed by licensed custodians, stock dividends distributed in token form 1:1, support for corporate actions (such as stock splits and consolidations) mapped in real-time, and positions can serve as joint collateral for Bitget's unified account and U-based contracts, allowing users to flexibly manage funds while holding global stock assets.

The non-small number joint AtlasX Protocol promotes the non-small number × GWDC 2026 Innovation Forum. AtlasX Protocol will participate as a co-organizer in this forum, which will be held on September 29, 2026, at AT CENTER in Seoul, South Korea, focusing on stock tokenization, Web3, and AI leadership summit.AtlasX Protocol will participate in this forum as a co-organizer. The project will introduce AI Agent into the Web3 event information organization and community interaction scenarios, attempting to connect decentralized events, content, and user participation into a sustainable product experience. During the conference, AtlasX Protocol project guest Xiao Qi will also give a speech, serving as the Global Chief Strategy Officer of AtlasX Protocol.The GWDC Korea event is expected to attract 5,000 participants, with guests and institutions such as Sun Yuchen, Microsoft, Bithumb, and Animoca Brands also appearing at the same venue. AtlasX Protocol will leverage this opportunity to bring AI event tracking, content collaboration, and community participation topics into a larger public setting.

Recently, the on-chain perpetual contract protocol Travix, which focuses on computing power asset trading, completed its seed round financing. The disclosed investor in this round is Amber Group, but the financing amount has not been disclosed. The funds will be used to accelerate the deep construction of perpetual contracts for computing power assets and exotic assets such as East Asian stocks, expand trading pairs for Compute-Led RWA like chips and storage, promote the development of the "Financial World Model," deepen the development and deployment of a trusted AI agent trading engine, and expand global markets and multilateral ecological construction as well as launch trading promotion incentive programs.It is reported that Travix is a new generation PerpDEX protocol built on a modular blockchain architecture, adopting a hybrid architecture of offline high-performance matching and on-chain settlement, achieving millisecond-level processing efficiency, and introducing a unified account management model. Its core directions include: perpetual contracts for computing power assets, supporting hardware asset trading such as H100 chips and storage; the Financial World Model, which transforms probabilistic events such as policy implementation and product launches into quantifiable event trading signals; and trusted AI agent trading, supporting users in deploying automated strategies through the Agent Engine.Travix claims that its goal is to achieve the integration of computing power assets, probabilistic trading, and trusted agents, creating a new generation of decentralized perpetual contract entry point where "trading is understanding the world."

The cross-chain asset protocol Universal has announced its shutdown. The protocol will continue to operate normally for the next 60 days, until November 17, 2026. Universal was launched two years ago to build Universal Assets (uAssets), bringing assets such as SOL, XRP, and DOGE into a new ecosystem, supported 1:1 by underlying assets, and has supported over 80 types of assets.The team stated that the scale has not reached a long-term sustainable level, hence the decision to shut down. According to the tokenized asset data platform RootData, Universal announced last February that it had completed a $9 million financing round, led by a16z Crypto, with participation from Coinbase Ventures and others.

Eli Ben-Sasson, co-founder of Starknet, stated on social media that the recent rise of Zcash (ZEC) is partly due to market concerns that Bitcoin is "too rigid" at the protocol level. He mentioned that he "deeply loves Bitcoin," but still believes that these concerns are real, and noted that some Bitcoin holders have expressed to him that they have shifted part of their positions to ZEC.

Dragonfly Managing Partner Haseeb Qureshi commented on the controversy surrounding the Zcash development fund, stating that the Zcash community has positioned itself as "the crypto version of Bitcoin" and has refused to continue adding more features to the protocol. To become a reliable store of value, Zcash ultimately needs to achieve protocol finality, but it still needs to advance Tachyon, quantum resistance, and comprehensive formal verification required to address AI network attacks, making it unsuitable for finality in the next one to two years.The development fund has played a necessary role during the phase of lacking private funding to support Zcash development, and under current rules, it will expire in 2028. However, as the price of ZEC has surged significantly, the scale of the fund has expanded by an order of magnitude; once the fund exceeds 100 million dollars, it will inevitably move towards institutionalization and face the risk of the allocation mechanism being politicized.He advocates for the continued retention of the development fund at this stage to complete the remaining technical work before protocol finality, but this round should be the last round of the development fund. Once Zcash meets the conditions for finality, the fund should gradually wind down rather than continue seeking new funding projects; future development needs can be spontaneously funded by holders and ecosystem supporters, similar to Bitcoin.In terms of governance, Haseeb does not support voting solely by token holders, believing that a store of value asset requires policy predictability, and pure token governance is too volatile. He supports limited participation by holders and believes that committee governance, while flawed, may be a more feasible solution. Haseeb also disclosed that Dragonfly holds ZEC and that he himself is a ZODL investor, but ZODL will not directly benefit from the development fund.

The cross-chain bridge protocol Across Protocol officially announced that Across Protocol has been transferred to a new company, Across, Inc. (AcrossCo), and the ACX token will gradually be phased out. After January 8, 2027, all ACX tokens will be rendered obsolete and will no longer have governance, utility, or economic functions. Risk Labs and AcrossCo will also no longer bear related obligations.Holders can exchange through the portal at exchange.across.to at a valuation of $0.04375 per token before that date: first, for a 1:1 exchange for equity in AcrossCo (first come, first served, minimum 250,000 ACX, lower amounts subject to allocation, KYC required, U.S. applicants must be accredited investors); second, for an equivalent amount of USDC (sanctions screening required). After the deadline, equivalent exchange conditions cannot be guaranteed.

Arthur Hayes posted on the X platform that the FLOP token on the FLOP Labs testnet will be exchanged for the mainnet FLOP token at a pending ratio, and it will support trading with real funds through its HTLC protocol.Incentives for miners, validators, or agents participating in the FLOP Labs testnet will increase.

ESS Frontier LLC filed a lawsuit on September 4, 2026, in the United States District Court for the Southern District of New York, case number 1:26-cv-07645, against Ostium Foundation, Ostium Labs Co., Deltax LTD., DX Group Limited, Ostium co-founder and CEO Kaledora Kiernan-Linn, and John Doe Transferees 1-10. The nature of the case is arbitration matters under other statutes, with the cause of action being a petition for a mandatory arbitration order and the appointment of an arbitrator pursuant to 09 U.S.C. § 206.The plaintiff also submitted a complaint, a motion for a temporary restraining order, a motion to seal limited materials, and related declarations. Public reports indicate that the lawsuit involves approximately $15 million in crypto loans, with ESS Frontier LLC suing as the assignee of the debt owed by Hong Kong lender Minghui Zheng. On September 14, the plaintiff submitted the first amended complaint, adding Minghui Zheng as a co-plaintiff. The court is scheduled to hold a hearing on September 17. Ostium is an on-chain perpetual contract protocol deployed on Arbitrum, providing leveraged trading for stocks, commodities, foreign exchange, and crypto assets.

Tether posted on platform X that USDT has been launched on the privacy protocol Zama.