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The appointment follows the launch of Phase’s Layer 1 blockchain mainnet and AI agent services, backed by $45 million in founder funding.
Phase, a technology company building the operating layer for the AI agent economy, today announced that Yana Prikhodchenko, former CEO of Cointelegraph, has joined the company as co-founder and CEO. She will lead strategy, global expansion and commercial development, working alongside founder Kirill Eves, as Phase scales its decentralized infrastructure for autonomous AI agents.
Prikhodchenko joins Phase after nearly five years at Cointelegraph, where she served as CEO, leading a global team of more than 200 people and transforming the company from a crypto news platform into a diversified group spanning media, marketing, research, acceleration and industry events. Before joining Cointelegraph, she spent more than a decade in senior leadership roles at major banking and insurance companies, including Allianz.
Phase is building the operating layer for the AI agent economy, giving AI agents everything they need to operate autonomously, from accessing the open web and orchestrating AI models to performing computing tasks and making payments. These services run on Phase's Layer 1 blockchain, powered by a decentralized network of everyday devices whose owners earn rewards for validating transactions and contributing connectivity and computing power.
“AI agents are moving from answering questions to performing real tasks on our behalf, but the infrastructure they depend on was not built for autonomous systems. Phase is building an open, decentralized network that anyone can participate in. My focus is to bring this technology to developers and businesses worldwide and build the ecosystem needed to support the next generation of AI agents,” said Yana Prikhodchenko, co-founder and CEO of Phase.
“Yana brings extensive leadership experience across media, technology and financial services, along with the operational expertise and industry relationships needed to take Phase into its next stage of growth. As we bring our technology to market, she will lead the company's commercial development and global expansion,” said Kirill Eves, founder of Phase.
About Phase
Phase is a technology company building the operating layer for the AI agent economy, with four integrated services that give AI agents everything they need to operate autonomously, from accessing the open web and orchestrating AI models to performing computing tasks and making payments. The platform runs on its own Layer 1 blockchain, powered by a decentralized network of everyday devices. Phase has received $45 million in funding from its founder, Kirill Eves.
Phase Proxy enables AI agents acting on behalf of users to access websites that restrict automated traffic through mobile and residential internet connections. Phase Router intelligently directs requests across leading AI models to optimize quality, performance and cost. Phase Compute harnesses the processing power of devices across the network to run open-weight AI models, while on-chain settlement enables autonomous payments using stablecoins and PHASE, the network’s native token. Phase is building its own AI model to serve as the platform’s central intelligence, capable of advanced reasoning, solving complex tasks independently and orchestrating other AI models.
Unlike most blockchain networks that require dedicated servers or token staking, Phase allows anyone to become a validator simply by downloading the app, without specialized hardware or upfront investment. Its reputation-based consensus and randomized validator selection secure the network and prevent control from concentrating in the hands of a few powerful operators. Phase rewards device owners with PHASE tokens for validating blocks and contributing connectivity and computing power, enabling millions of people to help build the AI economy and share in the value it creates.

After invite-only early access, the desktop app from the team behind Brevis is now open to anyone on Mac and Windows.
HONG KONG, November 11, 2026: Arca, a new desktop app from the team behind Brevis, opened to the public today. Arca pays people for the AI sessions they'd otherwise throw away. It finds the session history their AI tools already keep on their computer, lets them choose which sessions to submit, strips sensitive details on the device before anything is uploaded, and pays for the sessions that are approved. Starting today, anyone can sign up with an email address, with no invite and no waitlist.
Much of today's knowledge work runs through AI tools. People steer a model through a task, correcting it, throwing out what fails and keeping what holds up. Every one of those sessions leaves a detailed record of real work: the back-and-forth, the dead ends, the fix that finally worked. These records pile up by the thousands on people's computers, and once the window closes, they're worth nothing to the person who did the work. Arca gives that work a value.
How it works
Arca works with the AI tools people already use, including Claude Code, Codex, Cursor and Claude Desktop. After installing the app, users see the sessions Arca has found on their machine, past ones included. They pick a session to upload, and Arca anonymises it on their computer before it leaves, then returns a quote range. Users either confirm, which sends the session to review, or withdraw, in which case the upload is deleted. Approved sessions are paid weekly.
Arca only reads sessions that are already on the user's computer, and it lists everything it finds. Nothing uploads in the background, and nothing leaves the device until the user picks a session and confirms. Before a session is uploaded, Arca strips names, file paths, account details and keys, and further anonymising runs on Arca's side.
"Every AI session is a record of real thinking and real work, and until now the person who did that work got nothing for it," said Michael, co-founder and CEO of Brevis. "Arca lets people see what their sessions are worth and decide for themselves what to share. We opened it in small batches first to get the experience right. Today it's open to everyone."
Built for real work in any field
Arca is built for anyone who does real work with AI, from code to contract reviews, research and long working conversations. Sessions with Claude Opus and Fable, and with the latest GPT models in Codex, qualify today, with more to come. Very short sessions don't qualify, and every submission is reviewed before it pays. Users can connect GitHub to strengthen their profile, which can raise the value of their sessions, but it isn't required.
Arca carries the principle behind Brevis's verifiable computing work into a new domain: things you can verify are worth more than things you have to trust.
Availability
Arca first opened on October 13 in invite-only early access, admitting users in small batches. With today's launch, the invite requirement is gone. Users sign up with an email address or a Google account and can start right away. Arca is free to use and available now for Mac and Windows at arca.market.
Through November 30, the Arca Launch Challenge adds $10,000 in prizes on top of regular payouts for approved sessions.
About Arca
Arca pays people for the AI sessions they'd otherwise throw away. The desktop app finds the sessions people's AI tools already keep, lets them choose what to share, anonymises sessions on the device before upload, and pays for approved sessions. Arca is built by the team behind Brevis. Learn more at arca.market.
About Brevis
Brevis builds verifiable computing infrastructure. Its zero-knowledge proving technology, including the open-source Pico zkVM, lets applications prove the results of complex computations. Learn more at brevis.network.

Geneva, Switzerland, November 9, 2026 — TRON DAO, the community-governed DAO dedicated to accelerating the decentralization of the internet through blockchain technology and decentralized applications (dApps), today announced the integration of the TRON network with Backpack Wallet. The integration brings TRON's blockchain ecosystem directly to Backpack users, enabling them to send, receive, bridge, and manage TRON-based digital assets through Backpack's mobile app and browser extension, all while maintaining full self-custody.
Through the integration, Backpack users will be able to send, receive, and hold TRON-based digital assets, including USDT (TRC-20), directly within their wallet while maintaining full self-custody. Users will also be able to bridge assets between TRON and other supported blockchains, explore decentralized finance applications and dApps across the TRON ecosystem, including Sun.io, and manage their TRON assets alongside holdings from other supported networks within a single multichain wallet experience.
This integration follows the recent listing of TRX for spot trading and perpetual contracts on Backpack Exchange. The listings expanded market access to TRON's native utility token, allowing users in eligible jurisdictions to trade TRX through both spot and perpetual markets on Backpack's trading platform. Together, these developments establish a foundation for deeper ecosystem connectivity, bringing TRON's blockchain infrastructure and digital assets to Backpack users across both its wallet and exchange products.
The collaboration reinforces TRON's commitment to expanding global access to blockchain infrastructure, stablecoin payments, and decentralized finance, while advancing its mission to make digital assets more accessible worldwide.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. Today, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $94 billion. As of November 2026, the TRON blockchain has recorded over 412 million in total user accounts, more than 16 billion in total transactions, and over $27 billion in total value locked (TVL), based on TRONSCAN. Recognized as the global settlement layer for stablecoin transactions and everyday purchases with proven success, TRON is “Moving Trillions, Empowering Billions.”

Rarzz plans to explore artificial intelligence applications in digital asset management, focusing on NFT pricing efficiency, asset valuation analysis, and risk identification.
Rarzz, an NFT digital asset platform, has identified AI-assisted valuation and digital asset pricing research as key priorities in its technology development strategy. The platform plans to explore more systematic approaches to NFT valuation by combining multidimensional asset data analysis, market information processing, and intelligent models, with the goal of providing additional insights to support future digital asset management and trading decisions.
As the NFT market gradually moves toward more diverse applications, asset valuation methods and pricing efficiency are becoming increasingly important industry concerns. Unlike traditional standardized financial assets, NFTs vary significantly in scarcity, transaction history, market demand, and practical utility. Developing more effective mechanisms for asset analysis and pricing references remains a challenge for the industry.
NFT Asset Pricing Faces Multidimensional Challenges
NFT valuation is characterized by significant differences across individual assets.
Even within the same collection, NFTs may exhibit different price patterns due to variations in rarity, historical transaction records, market interest, utility benefits, and trading activity.
Currently, NFT market participants typically assess asset values using historical transaction prices, collection floor prices, and publicly listed asking prices. However, these indicators often reflect only part of the overall market picture.
For example, some NFTs have limited transaction histories, while listing prices do not necessarily reflect actual buyer demand or the prices at which transactions can be completed. Short-term market fluctuations may also affect the reliability of pricing references.
For NFTs with low trading frequency or insufficient market depth, a single pricing indicator may be particularly inadequate in reflecting overall market conditions.
As a result, integrating data from multiple sources and conducting comprehensive analyses of asset characteristics, trading activity, and market conditions has become an important direction for further development in NFT valuation technology.
Exploring AI-Driven Multidimensional Asset Analysis
To address fragmented data and differences in valuation assessments within the NFT market, Rarzz plans to research applications of AI technology in digital asset valuation and market analysis.
Key areas of research include historical transaction data, NFT attributes, market liquidity, and price movements.
By exploring the use of machine learning and data analytics, the platform aims to establish a more systematic analytical framework for evaluating the market performance of different NFTs, helping users better understand the key factors influencing asset pricing.
Compared with approaches that rely solely on historical transaction prices or a single floor price, multidimensional analysis can provide a broader range of information to support asset valuation.
However, the effectiveness of AI models remains dependent on factors such as data quality, market conditions, and model assumptions. Automated analysis may involve greater uncertainty for assets with limited transaction histories, unusual trading activity, or significant price volatility.
Therefore, Rarzz will focus on data reliability, the interpretability of valuation results, and risk disclosure mechanisms, exploring ways to combine AI-driven analysis with users' independent judgment.
Focusing on Dynamic Pricing and Market Change Detection
In addition to asset valuation, dynamic market data analysis is another area of technological focus for Rarzz.
The NFT market is influenced by multiple factors, including supply and demand, market sentiment, asset use cases, and broader digital asset market conditions. As a result, price movements may be irregular and subject to sudden changes.
Against this backdrop, the focus of dynamic pricing research is not simply to predict future NFT prices, but rather to help users identify the factors behind price movements through continuous analysis of publicly available market information and asset conditions.
Rarzz plans to explore the application of market data analysis in NFT trading references, price range assessments, and the detection of abnormal market behavior, with the aim of providing users with clearer market information.
In practical applications, such analysis must also account for insufficient market liquidity, unusual transaction records, and data discrepancies across trading platforms to avoid treating unrepresentative market information as a reliable basis for asset valuation.
Strengthening Risk Identification and Information Transparency
As NFT products and use cases continue to diversify, the significance of asset valuation is gradually extending beyond simple comparisons of transaction prices.
For digital asset management platforms, the reliability of the data underlying valuation information, the explainability of analytical results, and the clarity of risk disclosures can all influence how users understand and use platform tools.
As part of its research into AI-assisted analysis, Rarzz plans to focus on risk identification and information transparency, including factors such as asset transaction data quality, abnormal price fluctuations, and changes in market liquidity.
Through clearer data presentation and analytical mechanisms, the platform aims to provide users with useful asset information and reduce the limitations associated with relying on a single pricing indicator.
Importantly, AI-assisted valuation does not mean that an asset can necessarily be sold at its estimated value, nor does it guarantee trading returns or eliminate market risks. Such technology should be viewed as a decision-support tool rather than a mechanism for predicting prices with certainty.
Advancing a More Systematic Approach to NFT Asset Analysis
As NFTs expand beyond digital collectibles into a wider range of digital asset applications, demand for asset information analysis, valuation, and risk management tools may continue to grow.
Rarzz will continue exploring the integration of AI technology into NFT asset management, focusing its technology and product planning on intelligent valuation, dynamic market analysis, and risk identification.
Looking ahead, the platform plans to gradually explore the application of these analytical capabilities in NFT asset management and trading scenarios, based on the progress of its research and product development efforts, with the goal of providing more comprehensive information to support the digital asset market.
About Rarzz
Founded in 2021, Rarzz is a platform focused on NFT technology and digital asset applications. The company is registered in Colorado and headquartered in Seattle, Washington. Rarzz focuses its product planning and technology development on AI technology, cross-chain asset management, and diverse NFT use cases, with the goal of building a digital asset service ecosystem covering NFT creation, trading, management, and transfer.

DSA’s Adrian Wall and Former CFTC Chair Chris Giancarlo Discuss Future of U.S. Crypto Regulation at Strobe Summit
The Digital Sovereignty Alliance (DSA), a nonprofit organization dedicated to advancing clear and ethical public policy, research, and education related to emerging technologies, participated in the Strobe Summit, where DSA Managing Director Adrian Wall moderated a fireside chat with former Commodity Futures Trading Commission (CFTC) Chair Christiopher Giancarlo on the evolving regulatory landscape for digital assets and the future of financial markets.
Titled “Crypto at a Crossroads: Regulation, Institutional Adoption, and the Future of Financial Markets,” the discussion examined the path forward for U.S. digital asset policy amid legislative uncertainty and growing institutional interest in blockchain-based financial infrastructure. Drawing on his experience leading the CFTC and founding the Digital Dollar Project, Giancarlo emphasized an approach to regulation that combines clear exchange rules under existing CFTC authority with congressional action to address remaining gaps. The conversation also explored the implications of the GENIUS Act, including Giancarlo’s concerns about financial privacy and his view that dollar-backed stablecoins could become a 24/7 global payment rail, raising fundamental questions about how the dollar moves on-chain and who provides that infrastructure.
Wall and Giancarlo also examined the regulatory challenges surrounding prediction markets, perpetual futures, and decentralized finance (DeFi). Topics included the CFTC’s role in overseeing event contracts, bringing offshore derivatives activity into regulated U.S. markets, the potential for 24/7 trading, and establishing accountability for decentralized platforms without traditional intermediaries. The discussion highlighted the need for regulatory frameworks that address market integrity, cybersecurity, customer asset protection, and the operational realities of increasingly interconnected financial markets.
“Regulatory clarity requires more than new legislation. It requires rules that reflect how digital asset markets actually operate,” said Adrian Wall, moderator of the discussion. “The CFTC has existing authority to address important market structure questions, while Congress has a critical role in resolving regulatory gaps. Getting that balance right will determine whether the U.S. can bring more digital asset activity onshore, accelerate institutional adoption, and protect market participants without compromising innovation or financial privacy.”
DSA’s participation reflects its commitment to advancing informed policy dialogue and practical regulatory approaches that support responsible innovation, market integrity, and the integration of digital assets into the broader financial system.
About the Digital Sovereignty Alliance
The Digital Sovereignty Alliance (DSA) is a nonprofit social welfare organization committed to advocating for public policies that support ethical innovation in decentralized technologies, blockchain, cryptocurrency, Web3, and artificial intelligence. DSA conducts research, organizes educational events, and promotes policies that prioritize public welfare and digital sovereignty.

Start with one stock. Connect two capital worlds.
6 November — Singapore — StockFi is advancing the connection between traditional equities and the on-chain ecosystem through U.S. stock tokenization. Built on BSC, the platform brings stock tokens and the meme ecosystem into its development strategy, exploring new ways to serve on-chain users worldwide through asset issuance, on-chain circulation and product applications.
StockFi’s approach connects the underlying value of equities, the utility of on-chain products and the reach of communities. Starting with its first stock offering, the platform plans to progressively develop asset onboarding, token issuance, trading environments and user access, giving equities broader reach and utility once they enter the on-chain market.
“Start with one stock. Connect two capital worlds.” This brand statement reflects StockFi’s understanding of asset tokenization: begin with a specific asset, connect markets through products, and support ecosystem development through sustained use.
Building New Market Connections for Digital Assets
Equities connect business operations with capital markets, reflecting investors’ assessments of industry development, commercial innovation and long-term value. On-chain networks offer a new digital environment in which assets can connect with users and products across regions through wallets, trading protocols and application interfaces.
When equities enter the on-chain market as tokens, the change extends beyond how assets are represented. It also affects how they are discovered, how they circulate, and how they connect with other digital assets and applications.
StockFi will focus its development on these areas.
Within the platform’s roadmap, equities and on-chain products require clearly defined structural connections. Products and users need convenient access points, while assets entering the market require appropriate liquidity and application support. Bringing these elements together is essential to delivering a complete asset tokenization experience.
Through ongoing product development, StockFi aims to combine the market familiarity of traditional equities with the open connectivity of the on-chain ecosystem, creating new opportunities for collaboration among asset issuers, ecosystem partners and eligible users.
Three Asset Roles Within One Ecosystem Framework
StockFi’s product framework encompasses real stocks, stock tokens and MEME tokens. Each serves a distinct role in connecting assets with communities.
Real stocks form the underlying asset foundation, connecting company operations with traditional capital markets. Stock tokens provide the corresponding on-chain representation, serving as a product vehicle for trading, asset information and future applications. MEME tokens connect community culture, content distribution and user participation, helping the platform broaden its market reach.
This structure allows StockFi to develop both the asset and user sides of the platform.
On the asset side, key questions include where products originate, how they are issued and what rights holders receive. On the user side, participants need to understand a product’s purpose, find an access point and build familiarity through actual use. StockFi plans to bring these two sides closer together through an integrated platform experience.
The asset characteristics, uses and holder rights of stock tokens and MEME tokens will be explained separately. Their connections will take shape through trading environments, product integration and community participation, providing complementary foundations for platform development.
Connecting the Meme Ecosystem to Broaden the Reach of Stock Tokens
Communities are an important part of on-chain markets. Content, discussion and creative work built around shared themes help projects reach across regions and languages to establish distinctive brand cultures.
StockFi views the meme ecosystem as an important gateway to users and aims to bring community reach into the stock token experience.
Under its development plans, StockFi will select eligible projects from a pool of candidate MEME projects, work toward establishing trading pairs with stock tokens, and provide educational content and product introductions around specific assets. This approach can introduce community users to stock tokens while helping stock tokens attract broader attention and potential demand.
These connections require ongoing support from both content and products. After discovering an asset theme, users should be able to learn more about its background, structure and purpose. Once they access the product, they should also find clear information and operating instructions.
StockFi will therefore develop its community alongside its products. Through accurate asset introductions, accessible educational content and ongoing ecosystem engagement, the platform aims to turn brand awareness into product understanding and establish a foundation for long-term use.
Supporting Assets Through Products, Expanding Utility Through Applications
StockFi sees asset issuance as the starting point of its platform services, with subsequent circulation and applications remaining central to its ongoing development.
For stock tokens, the platform plans to progressively connect asset arrangements, issuance services, on-chain trading and DApp access. These capabilities will be introduced in stages according to product delivery and partnership progress, creating a continuous path from asset information to practical use.
At the asset onboarding stage, the platform plans to work with relevant service providers on stock sourcing, custody and issuance structures, while clearly defining product information and holder rights.
For on-chain circulation, StockFi plans to develop stock token trading environments and connect wallets and liquidity services, providing product support for assets entering the on-chain market.
For the user experience, the platform will integrate asset displays, project materials and feature access through its DApp, helping users learn about assets, review information and access available services within a single product environment.
Together, these elements define StockFi’s product direction: make assets identifiable, information understandable and services usable. As its capabilities develop, the platform will further explore how stock tokens can be used across different on-chain applications.
Building an Open, Collaborative StockFi Ecosystem
Bringing equities into the on-chain market requires expertise from multiple fields. Asset services, technical development, wallet integration, liquidity and user education each play an essential role along the product journey.
StockFi will expand ecosystem partnerships around specific product needs, enabling partners to collaborate within clearly defined service scopes and delivery requirements.
For asset and issuance service partners, priorities will include asset selection, asset arrangements, custody, issuance and ongoing disclosure, establishing a clear product foundation for stock tokens.
For technology, wallet and liquidity partners, the platform will explore asset displays, trading access and application integrations to progressively improve how stock tokens are accessed and used.
For media and community partners, StockFi will provide consistent brand introductions, project materials and educational content, helping more users understand stock tokenization and the platform’s direction through ongoing communication.
StockFi aims to build an ecosystem in which every partnership serves a specific product need and every asset onboarded receives appropriate application support. As its network of partners and product use cases grows, the platform will progressively expand its ability to connect assets with users.
Starting With the First Stock, Building Toward a Scalable Platform
StockFi plans to begin with its first stock offering, connecting assets, issuance, circulation and user access, then refining the product journey based on actual operation.
The first offering will establish a reusable foundation for future development. Practical questions—how asset information is presented, how stock tokens enter trading environments, and how users understand and use products—will inform the platform’s subsequent expansion.
Building on this foundation, StockFi will consider product delivery, market demand and partnership progress as it explores onboarding additional stock tokens and eligible MEME projects, broadening its asset coverage and application range.
The platform’s long-term goal is to establish lasting connections among asset supply, product use and community participation: more products give users greater choice, more use cases support asset demand, and broader community reach contributes to ecosystem development.
Starting with one stock, StockFi aims to establish a product pathway into the on-chain market, creating a new connection between traditional equities and the global on-chain ecosystem.
Start with one stock. Connect two capital worlds.
About StockFi
StockFi is a U.S. stock tokenization platform built on BSC, connecting stock tokens with the meme ecosystem. The platform is developing stock token issuance, on-chain trading and applications. Through product services, community education and ecosystem partnerships, StockFi explores lasting connections between traditional equities and on-chain users worldwide, working toward a growth ecosystem in which assets, applications and communities develop together.

Built by a team with experience scaling a leading DeFi lending protocol, Onlend aims to make it easier for fintechs, asset managers, curators, and asset issuers to build and operate their own lending products.
Onlend has publicly unveiled its decentralised infrastructure platform designed to let anyone create, launch, and operate their own onchain lending applications without building the underlying technology from scratch.
The project is entering a market with considerable room for expansion. Global debt surpassed $350 trillion in early 2026, according to the Institute of International Finance, while active loans across DeFi protocols currently stand at approximately $33 billion, according to DefiLlama. Although the figures measure different markets, they illustrate the relatively small scale of onchain lending today.
At the same time, the infrastructure supporting onchain financial activity continues to expand. The stablecoin market has grown beyond $300 billion, while the value of tokenized real-world assets has reached approximately $39 billion, creating new opportunities for lending products built around these assets.
However, launching such products remains challenging. Existing lending protocols offer established markets but can limit how teams configure and operate their lending use cases. Building custom infrastructure, meanwhile, requires significant engineering resources and development time.
Onlend addresses this gap with a permissionless, no-code platform that allows anyone to launch lending applications tailored to their own use-cases, users, and operational requirements.
Through Onlend, builders can configure supported assets (with multi-collateral and multi-borrow optionality), collateral parameters, interest-rate models, price oracles, liquidation mechanisms, fees, and administrative permissions. Applications can operate with open or restricted access, use a customizable white-label interface, and remain actively managed or operate under immutable rules.
One of its main technical differentiators is support for advanced interest-rate models beyond traditional utilization-based curves. These include fixed rates, rates linked to external benchmarks such as staking yields, and targeted rates for specific borrowers.
The flexibility opens several potential applications across financial services.
For fintechs and neobanks, Onlend provides a way to introduce collateral-backed borrowing directly into their existing consumer applications, adding lending functionality without developing the feature from the ground up, nor relying on rigid third-party protocols.
Asset managers and curators can create and manage lending markets aligned with their strategies, retain control over market configurations, and capture revenue through the markets they operate.
Tokenized real-world asset issuers can establish dedicated lending markets using their assets as collateral, while stablecoin issuers, liquid staking protocols, and other DeFi projects can develop lending products tailored to their ecosystems.
Designed for the emerging agentic economy, where AI agents can autonomously lend and borrow capital to finance their operations.
The approach differs from established lending protocols such as Aave, where introducing new assets into governed markets involves an approval process, and Morpho, which enables permissionless market creation but uses immutable market parameters. Onlend combines permissionless application creation with broader customization, ongoing management options, and branded interfaces.
Behind the project is a team with experience at Flowdesk, MEV Capital, and Folks Finance. Its members have previously helped scale the lending protocol to more than $400 million in peak total value locked and $13 billion in cumulative deposits volume.
With initial testnet deployments targeted for Q4 2026, Onlend is positioning itself as infrastructure for a new generation of lending applications, where teams can control their financial products rather than depend entirely on existing lending markets.

USDD has reported strong treasury performance in Q3 2026, alongside continued growth in key metrics, including circulating supply and total value locked (TVL). These latest milestones reflect the protocol's expanding ecosystem, with growing multichain adoption, new DeFi integrations, and broader opportunities for users to earn, transfer, and deploy USDD.
As a decentralized, overcollateralized stablecoin, USDD is focused on combining stability with practical utility. Let's take a closer look at the key developments behind USDD’s recent growth.
USDD's Growing Market Presence: New Milestones
According to a recent report jointly published by RWA Foundation and Token Terminal, USDD recorded the largest market capitalization increase among the top 10 stablecoin issuers during October 12–19, 2026. USDD’s market capitalization grew by $180.3 million, accounting for approximately 40% of the combined $449.1 million increase recorded by the top 10 issuers.
For comparison, Sky ranked second with an increase of $86 million, while United Stables recorded growth of $22.8 million. This performance highlights USDD's strong momentum relative to other major stablecoin projects.
As of October 29, 2026, USDD's circulating supply has also surpassed $1.48 billion, reinforcing its position as the largest decentralized stablecoin on TRON. Meanwhile, protocol TVL has reached $2.18 billion, reflecting the substantial value of assets supporting the ecosystem.
Beyond these figures, USDD's expanding DeFi integrations and transfer solutions are creating more opportunities for users to put their stablecoins to work. This growing utility provides an important foundation for broader adoption.
Expanding Utility: More Ways to Earn and Transfer USDD
Beyond financial performance, USDD continues to expand its practical applications through new DeFi partnerships and transfer integrations. These developments focus on two important user needs: earning competitive yields and moving stablecoins conveniently.
More Earning Opportunities Across DeFi
USDD Earn allows users to deposit USDD and receive sUSDD, currently offering a base APY of 4% with flexible withdrawals and no fixed lockup period. Users can also explore additional earning opportunities through partner platforms.
USDD has partnered with Binance Wallet and Gate DEX to expand earning opportunities, while campaigns such as TRON DeFi Summer provide additional incentives for users, allowing them to maximize their earning opportunities. For experienced users, there are also advanced lending and looping strategies on Pendle and Morpho to further increase earning potential.
Together, these integrations give users more flexibility to choose strategies based on their investment preferences and risk tolerance. Yields are subject to change, and advanced DeFi strategies involve additional risks.
Making Transfers Easier with GasFree and TokenPocket
USDD is also making transfers simpler and more affordable through integrations with GasFree and TokenPocket. Both solutions allow users to pay supported transaction fees directly in USDD on TRON without separately holding TRX.
On August 17, 2026, GasFree integrated USDD, marking a significant step toward making USDD transfers simpler, more efficient, and more cost-effective for everyday on-chain use. USDD currently supports GasFree transfers on TRON. The wallets currently supporting GasFree access are TronLink, Guarda, Klever Wallet, and eDir. Through GasFree, USDD transfers have cost approximately 0.5 USDD per transaction, compared with approximately 1.5 USDT for comparable USDT transfers.
TokenPocket provides another way to make USDD transfers simpler. With USDD supported as a network fee payment option on TokenPocket, users can keep their transfer activity centered around USDD. TokenPocket's Gas Boost Season campaign has also offered a 50% gas fee subsidy for users paying gas with USDD, further reducing costs for eligible users.
These integrations help reduce friction for wallet-to-wallet transfers, payments, and everyday on-chain activities. By combining earning opportunities with convenient transfers, USDD is becoming more practical for users beyond simply holding or trading stablecoins.
Multichain Expansion: Growing Across TRON, Ethereum, and BNB Chain
USDD's growing presence across TRON, Ethereum, and BNB Chain is another important part of its ecosystem development, allowing it to reach more users and connect with a broader range of DeFi applications. Ethereum, in particular, accounts for a significant share of USDD's multichain supply. As of October 29, 2026, $329.94 million of USDD's $1.48 billion total circulating supply is on Ethereum, representing approximately 22.3%. Supporting multiple networks allows USDD to reach more users and connect with a wider range of DeFi applications.
TRON remains a core ecosystem, with integrations such as Binance Wallet, GasFree, and TokenPocket supporting both earning and transferring. These applications strengthen USDD's utility within TRON's established stablecoin infrastructure.
On Ethereum and BNB Chain, USDD and sUSDD provide access to additional DeFi opportunities. This broader network presence allows users to explore different earning products, lending markets, and liquidity opportunities across ecosystems.
For USDD, multichain expansion is not simply about being available on more blockchains. It is about giving users more ways to put their assets to work and expanding the stablecoin's practical applications.
Record Treasury Performance in Q3
As USDD expands its earning opportunities, transfer utility, and multichain presence, its financial performance and key protocol metrics are also showing steady progress, reflecting growth across both its ecosystem and treasury.
USDD's latest Treasury Report in Q3 2026 revealed another strong quarter, with revenue reaching $9.70 million, up 26.7% quarter over quarter. The treasury balance also surpassed $30 million for the first time, reaching $31.24 million.
A major contributor to this performance was Smart Allocator, USDD's on-chain asset allocation system, which generated $9.11 million in Q3 income. By deploying funds from USDD’s protocol capital across selected DeFi strategies, Smart Allocator supports the protocol's approach to generating sustainable yields over the long term.
Its investment activities and performance are also publicly visible on-chain, allowing users to monitor how assets are allocated. Together, these results demonstrate USDD's growing income-generating capabilities and commitment to transparency.
Beyond the Numbers: What's Next for USDD?
USDD's recent milestones reflect progress across three key areas: growing market presence, stronger treasury performance, and expanding ecosystem utility.
With circulating supply surpassing $1.48 billion, protocol TVL reaching $2.18 billion, and Q3 treasury revenue totaling $9.70 million, USDD has demonstrated significant momentum. At the same time, integrations with treasured ecosystem partners such as Binance Wallet, Gate DEX, GasFree, and TokenPocket are expanding the ways users can earn and transfer USDD.
Looking ahead, continued development across TRON, Ethereum, and BNB Chain will create further opportunities to connect USDD with new applications and users. While future growth depends on market conditions and adoption, the latest milestones highlight USDD's progress toward building a more accessible and useful decentralized stablecoin ecosystem.

TRON DAO, the community-governed DAO dedicated to accelerating the decentralization of the internet through blockchain technology and decentralized applications (dApps), welcomes the launch of TRX options on Blockchain.com, a global leader in crypto services for retail and institutional users. Available through the Blockchain.com Trading Account in eligible jurisdictions, the launch provides simplified access to TRX, the native utility token of the TRON network.
Blockchain.com is bringing access to TRX options into its consumer app, simplifying the user experience around a product category that has traditionally involved more complex workflows. The product is available to eligible users in supported jurisdictions, subject to applicable law and regulatory requirements.
“The launch of TRX options on Blockchain.com expands access to the TRON ecosystem through one of the industry’s most established global platforms,” said Justin Sun, Founder of TRON. “Blockchain.com has played a longstanding role in bringing digital assets to a broad user base, and this launch gives users another way to gain exposure to the wider TRON ecosystem through a familiar platform.”
TRON is one of the world’s most active blockchain networks with more than 411 million total user accounts, 15 billion transactions and a cumulative transfer volume exceeding $30 trillion. More than $94 billion in circulating USDT is issued on the network, demonstrating TRON’s leading role in global stablecoin settlement activity.
“We’re making digital asset products easier to access and navigate within the familiar, intuitive user experience of the Blockchain.com app,” said Taro Ugen, VP of Consumer at Blockchain.com. “TRX was a natural addition for our new options offering lineup given the scale of the TRON network, its global user base and its established role in fueling the TRON blockchain.”
The launch follows a series of milestones expanding institutional access to the TRON ecosystem this year, including the debut of the Canary Staked TRX ETF (TRXS), the first U.S. staked TRX ETF; native TRX staking and TRC-20 asset custody through Anchorage Digital; the launch of Hamilton Lane’s tokenized Senior Credit Opportunities Fund (HLSCOPE) on TRON through Securitize; and the inclusion of TRX in the S&P Pantera Digital Asset Index. Together, these developments have expanded the range of institutional infrastructure and products providing access to the broader TRON ecosystem.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. Today, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $94 billion. As of October 2026, the TRON blockchain has recorded over 411 million in total user accounts, more than 15 billion in total transactions, and over $27 billion in total value locked (TVL), based on TRONSCAN. Recognized as the global settlement layer for stablecoin transactions and everyday purchases with proven success, TRON is “Moving Trillions, Empowering Billions.”

Traders can now buy, sell, and provide liquidity for ZEC while keeping their identity, portfolio, and trading strategies confidential.
Shield has launched the first confidential onchain trading pair for ZEC, allowing users to manage their Zcash alongside other assets in its non-custodial wallet.
The new pair gives ZEC holders access to a confidential, non-custodial AMM where they can buy, sell, and provide liquidity without publishing their wallet activity to the market.
The launch expands Shield’s supported markets through its concentrated-liquidity AMM on Aleo. With this launch, Shield adds ZEC support to its non-custodial wallet, allowing users to manage the asset alongside their other supported holdings.
How Zcash protects transaction data
Zcash launched in October 2016 with support for transparent and shielded transactions.
Transparent addresses work much like Bitcoin addresses. Their balances and transaction histories are publicly visible. Shielded transactions encrypt the sender, recipient, and amount, while allowing the network to verify that each transaction follows its rules.
Zcash was the first widespread application of zkSNARKs, demonstrating that a decentralized network could verify transactions without publishing the underlying financial information.
ZEC on Shield
ZEC trades for USDCx in a concentrated-liquidity pool. Traders can move between ZEC and a dollar-denominated asset, and liquidity providers can supply capital within their chosen price ranges.
Shield Swap runs on Aleo, combining publicly verifiable market state with encrypted wallet records. Zero-knowledge proofs allow the network to verify transactions without exposing confidential wallet data.
Traders can inspect prices and available liquidity before confirming a swap. Liquidity providers can evaluate the pool before deciding where to allocate capital. Pool reserves, prices, trade sizes, and fees remain publicly verifiable.
Shield Swap protects your identity, portfolio, and trading strategies. Wallet balances, portfolio composition, and links between trades remain confidential.
Protecting ZEC portfolios
Trading on a transparent chain creates a permanent history associated with wallet addresses. Once an address is associated with a trader, its balances and transaction history become available to anyone following the market.
Fresh addresses can make analysis harder, but trade sizes, timing, and repeated behavior can still provide clues that connect activity. Over time, those connections can reveal how a trader builds a position, rebalances a portfolio, or moves capital between assets.
Shield Swap addresses this exposure. Public market data does not provide a direct view into each participant’s wallet and broader portfolio.
For ZEC holders, this means access to onchain trading without making their wallet history part of the market information available to competitors.
Providing liquidity for ZEC/USDCx
The ZEC/USDCx pool lets traders move between ZEC and a dollar-denominated asset. Liquidity providers choose the price ranges in which they want their capital to be available for trading and earn fees when their liquidity is used.
This gives providers control over how they allocate capital. A narrower range concentrates capital around selected prices. A wider range makes liquidity available across more prices. Providers can adjust their positions as market conditions and their objectives change.
ZEC in your Shield wallet
Shield’s non-custodial wallet now supports ZEC. Users can manage ZEC alongside other supported assets and connect their wallet to Shield to trade or provide liquidity.
A 1-click banner prompt moves assets into the wallet’s shielded balance so they are ready to trade. Wallet balances are held in encrypted records, and users retain control of their keys and funds.
Shield currently covers Aleo network fees for swaps. The liquidity-provider fee is included in the quote before the user approves the trade.
ZEC/USDCx trading is available on Shield. Early access is open to eligible organizations and individual market participants.
Shield is a technology provider. It is not a broker, dealer, or registered intermediary, and does not provide investment, legal, tax, or other advice of any kind. Participants act on their own account and remain responsible for their trading decisions and compliance with applicable law.

Through its recurring buyback and burn program, SUN.io continues to channel protocol revenue from SunSwap, SunPump, and SunX into SUN token value accrual, while accelerating SunSwap's cross-platform integrations to reinforce decentralized liquidity.
SUN.io, the core DeFi liquidity infrastructure on the TRON network, has successfully executed its 52nd SUN token buyback and burn on October 27, removing more than 7.23 million SUN from circulation.
This round marks the platform's 52nd consecutive burn, bringing the cumulative total to over 685 million SUN tokens, valued at more than $11 million. The recurring, uninterrupted buybacks and burn cycle steadily reduces the circulating supply of SUN, underscoring the protocol's long-term commitment to sustainable ecosystem growth.
To guarantee complete on-chain transparency, SUN.io has launched a dedicated public dashboard for its SUN token buyback and burn program. The portal provides real-time access to program design, key metrics, funding sources, and detailed on-chain records for each burn round, enabling community members to verify the data at any time.
Alongside the ecosystem value accrual from its periodic token burns, SUN.io is rapidly expanding its product footprint—most notably through strategic integrations with its flagship DEX, SunSwap. The platform has recently completed full-stack technical integrations and formed deep strategic partnerships with on-chain trading aggregator Ave.ai, leading multi-chain wallet TokenPocket, and cross-chain liquidity protocol Symbiosis.
These partnerships not only broaden SunSwap's user reach and unlock the potential of its underlying DEX architecture, but also deliver more affordable token swapping and liquidity services with fewer frictions for DeFi participants across the broader TRON ecosystem.


685M+ SUN Burned: Building a Traceable Value Loop Across the SUN Ecosystem
Since the launch of its buyback and burn program in 2021, SUN.io has maintained a consistent execution schedule across multiple market cycles. The first 52 burn rounds executed so far have removed up to 700 million SUN from circulation—representing over $11 million in value and approximately 3.44% of the total token supply. This outstanding track record has helped mitigate the impact of short-term market volatility while rallying SUN holders and ecosystem builders under a clear, dependable value thesis and sustainable roadmap.
According to the Announcement on the 52nd SUN Token Buyback and Burn (July 25, 2026—October 25, 2026), SUN.io executed 7,232,977.17 SUN (over 7.23 million SUN) during this time period.
The cumulative burn volume since the initial round on December 15, 2021 has surpassed the 685 million mark to 685,780,165.49 SUN.
All capital deployed for the buyback was funded by protocol revenues generated across SUN.io's three core verticals. Burn contributions by vertical are:
SunSwap V2: 388,023,868.41 SUNSunPump: 285,879,914.81 SUNSunX: 11,876,382.27 SUN
This multi-stream composition demonstrates that value capture spans the full SUN.io ecosystem. As protocol revenues generated across SunSwap V2, SunPump, and SunX are continuously channeled into the buyback and burn reserve, organic growth in any single vertical translates into direct support for the token's value accrual.
This creates a self-reinforcing flywheel where ecosystem revenue growth continues to fuel protocol buybacks, which in turn contract circulating supply and drive long-term token value accrual.
Every buyback operation adheres strictly to on-chain transparency standards, with transaction hashes for each execution indexed publicly to guarantee a traceable, verifiable paper trail for community audit.
On top of this, the platform's dedicated SUN Buyback & Burn dashboard further institutionalizes the commitment to transparency by centralizing core metrics, execution workflows, revenue allocation breakdown, and historical on-chain transaction records. It shows cumulative burn volumes, upcoming burn accruals, execution rules, and revenue allocations across all verticals. With every historical transaction mapped directly to on-chain addresses for verification, the entire buyback and burn process remains subject to ongoing community audit, reinforcing trust in the platform's transparent value loop.
Backed by verifiable on-chain records and real-time reporting on the official SUN Buyback & Burn dashboard, SUN.io is delivering on its multi-cycle deflationary commitment through radical transparency. By establishing an unbroken, auditable pipeline—routing protocol revenue directly into permanent token burns—the platform reinforces predictable, long-term value accrual for SUN holders.
Live metrics from the dashboard confirm that cumulative on-chain burns have crossed 685 million SUN (approx. $11 million), permanently retiring 3.44% of the total circulating supply. Meanwhile, buyback momentum remains strong, with the latest cycle securing an additional 7.1 million SUN ready for burning.
As the SUN.io ecosystem scales, protocol revenue streams expand alongside it, strengthening the reserve earmarked for future buybacks. This sustained, fully transparent value-return loop provides a robust foundation for the token's long-term value accrual.


SunSwap Accelerates Ecosystem Integrations to Fuel Growth Across TRON's DeFi Landscape
Alongside the continuous rollout of its buyback and burn program, SUN.io is ramping up its product expansion and ecosystem infrastructure. SunSwap, the platform's core DEX, has made significant headway in its strategic partner program, completing end-to-end technical integrations with on-chain trading aggregator Ave.ai, leading multi-chain wallet TokenPocket, and cross-chain liquidity protocol Symbiosis.
These partnerships span three core dimensions: aggregated trading entry points, high-traffic wallet access, and cross-chain liquidity routing. Together, they expand SunSwap's user reach, giving TRON DeFi users lower-friction access to deep liquidity and seamless token swaps.
The SUN.io team is actively onboarding more third-party platforms, extending SunSwap's integration footprint across a broader array of Web3 consumer touchpoints.
The platform's core operating metrics exhibit the same momentum. As of October 26, on-chain data shows SunSwap's total value locked (TVL) approaching $645 million across more than 26,800 active liquidity pools. Network throughput remains steady, with daily on-chain transactions topping 14,000 and average daily trading volume holding above $50 million—solidifying the ecosystem's leadership in the industry.
Growth extends beyond SunSwap, with SUN.io's broader product suite maintaining sharp upward momentum—most notably across its derivatives arm. According to DeFiLlama, total trading volume across all SUN.io product lines approached $15 billion in Q3 2026. Spot DEX trading contributed over $5 billion, while perpetual contract (perp) volume neared $9.7 billion, up roughly 25% quarter-over-quarter from the ~$7.75 billion performance in Q2.
The combined progress of SunSwap's ecosystem integrations and multi-product volume growth points to a broader shift: SUN.io's full-stack liquidity infrastructure now serves a much wider range of on-chain trading needs beyond spot trading, creating a DeFi product matrix where multiple business lines grow in tandem.
On the incentives front, JustLend, the lending platform in the JUST ecosystem, joined forces in July with core TRON-based projects and Binance Web3 Wallet to roll out the $4.5 million TRON DeFi Summer campaign. Participants who supply liquidity to the dedicated SUN pool on JustLend can earn additional boosted yields. The campaign is currently running Season 3 (S3), where APYs in the SUN pool reach up to 25%, offering users a compelling option to co-build ecosystem liquidity while earning on-chain returns.

Between the token-burn feedback loop, volume expansion across core business lines, and active partner-incentive campaigns, SUN.io is activating a clear growth flywheel: infrastructure upgrades drive transaction volume, business growth feeds value back to users, and that value attracts further ecosystem expansion.

Looking ahead, SUN.io, as core DeFi liquidity infrastructure for the TRON ecosystem, plans to continue its buyback and burn program, channeling protocol revenue generated by ecosystem growth into the underlying value of the SUN token. On the product side, the platform will continue securing cross-platform integrations, deepening SunSwap's liquidity, refining the end-to-end user experience, and broadening its product lineup. With ecosystem partners on board, SUN.io will keep expanding its cross-platform integrations and deliver transparent and efficient infrastructure that supports the long-term on-chain growth of TRON DeFi and the diverse trading needs of users worldwide.

Geneva, Switzerland — October 26, 2026 — The Office of Justin Sun today announced a pilot program for the Justin Sun Prize in collaboration with MathDB, a mathematical research platform developed by Caltech Professor Tony Yue Yu and his team.
The Justin Sun Prize was established to become the “Nobel Prize of the AI Era,” responding to the profound transformation of scientific research and incentives in the new era in a more decentralized, formalized and machine-driven way. Problem-level awards can reach $1 million, subject to the applicable award terms and eligibility requirements.
The collaboration introduces a submission and review process through MathDB. MathDB will accept solution submissions, verify Lean formalizations and review expository materials, while the Justin Sun Prize will separately assess eligibility, attribution, priority and applicable award terms.
“AI is changing the speed at which mathematics can be explored, but speed alone is not scientific progress,” said Justin Sun, founder of the Justin Sun Prize. “The opportunity is to create a framework where human insight and machine intelligence can work together without compromising rigor. Working with MathDB brings mathematical discovery and machine-verifiable proof into the same process, which we believe can help define a more rigorous model for future discoveries.”
The pilot covers 50 problems across four award levels, with problem-level prize pools up to $1 million, depending on the problem. The highest tier includes P versus NP, the Riemann Hypothesis, Yang-Mills Existence and Mass Gap, the Hodge Conjecture, Global Langlands functoriality and the Birch and Swinnerton-Dyer Conjecture, among others. The full list of participating problems and applicable award terms will be available through MathDB and the Justin Sun Prize.
All awards are subject to full eligibility verification, compliance with anti-money laundering (AML/sanctions) laws, and official program rules available at https://www.hejustinsun.com/prize.
To broaden the reach and impact of advanced research, the MathDB pilot program will reward not only solutions to mathematical problems but also engaging and accessible communication of those solutions. The reward is divided into three categories: 50% for the mathematical solution, 30% for Lean formalization and 20% for qualifying exposition.
MathDB is a large-scale community database of mathematical definitions, theorems, conjectures and open problems, with the aim of making mathematical knowledge easier to organize, connect and build upon. The project incorporates Lean formalization and automated proof-verification capability alongside mathematical explanations and supporting research materials. Professor Tony Yue Yu from California Institute of Technology, together with his team, will be leading the scientific aspects of the pilot.
“Solving a fundamental math problem often leads to much more than an answer to the original question,” said Yu. “The process can reveal unexpected connections, introduce powerful tools and open entirely new directions of research. These developments can have an influence that extends across generations and disciplines. The Justin Sun Prize celebrates this spirit of exploration by drawing attention to challenging problems, supporting researchers who pursue them, and encouraging public dissemination of knowledge. Our collaboration with the Justin Sun Prize is grounded in the belief that pursuing fundamental research through decentralized, rigorous and verifiable approaches can accelerate the pace of discovery and scientific progress, and contribute to the advancement of human civilization.”
The full list of participating problems, submission requirements and review procedures will be available through MathDB (https://mathdb.com/) and the Justin Sun Prize (https://www.hejustinsun.com/prize).
About the Office of Justin Sun
The Office of Justin Sun supports Justin Sun’s global business, philanthropic and public initiatives across technology, blockchain, artificial intelligence, scientific research, investment, art and space exploration.
Justin Sun is the Ambassador and former Permanent Representative of Grenada to the World Trade Organization and the Founder of TRON. TRON is the leading blockchain for the stablecoin revolution, processing over $13 trillion in volume since its inception. In the world’s emerging markets, people rely on USDT on TRON to access the global financial system.
A protégé of Alibaba founder Jack Ma, Sun has been recognized internationally for his work in the digital asset industry, including a Forbes cover profile in April 2025 and multiple appearances on the Forbes 30 Under 30 list. In August 2025, he flew aboard Blue Origin’s NS-34 mission, becoming the 712th person in history to travel to space. His broader interests span technology, investment, philanthropy, art, gaming, and space exploration.
About Justin Sun Prize
The Justin Sun Prize is an academic initiative established by Justin Sun to support advances in mathematics, formal verification, and AI-assisted scientific discovery. The prize is decentralized and built around the principle that mathematical work should be judged by the strength, rigor, and verifiability of the proof itself, not the prestige or reputation of those submitting it.
Justin Sun established the prize in his own name as a long-term commitment to return wealth created through mathematics and technology back to mathematics itself. Its legacy is intended to be defined by the body of work it recognizes and the laureates whose discoveries stand the test of time. The prize links clearly defined mathematical challenges to machine-verifiable proof. Its guiding principles are openness, public benefit and open-source access.

Summary:
The upgraded JST Buyback and Burn program features the following highlights:
· $50M Treasury Reserve Cushion: Establishes a safety buffer for sustainable ecosystem operations.
· Expanded Funding Sources: Integrates GasFree revenue alongside JustLend and USDD to cover 100% of JUST core products.
· ~$20.34M Capital Injection: Unlocks legacy surplus funds to be released in phases for future buybacks.
· JUST DAO Execution: Complete on-chain execution with full transparency and open-source verification.
Following its recent brand refresh on October 23, JUST—the flagship on-chain DeFi infrastructure on TRON—officially unveiled its upgraded JST Buyback & Burn initiative that strengthens the value-accrual framework of the native governance token. Building on previous funding sources from JustLend and USDD, the upgraded mechanism incorporates business revenue from GasFree while allocating $20.34 million in capital surplus to future token repurchases. These changes diversify the protocol's revenue base and set a structured process for deploying surplus capital.
The updated framework expands JST buyback funding from a dual-revenue stream (i.e., JustLend and USDD) to a more robust three-pillar model (i.e., JustLend, USDD, and GasFree), reinforced by phased injections of existing funds. Beyond simply adding capital, this upgrade ensures that growth in each JUST product line directly accrues to JST's underlying value. It underscores JUST's long-term commitment to token value accrual while tightly aligning protocol incentives with JST holders and the broader community.


JST Buyback & Burn Upgraded: $50M Safety Cushion, GasFree Revenue Integration, and $20.34M Surplus Injection
As the native governance token of the JUST ecosystem, JST's underlying value support and utility mechanisms have always been a central focus for the community. With the successful completion of the 5th buyback and burn on October 16, Phase 1 of the JST Buyback and Burn program concluded smoothly, paving the way for the upgraded mechanism alongside JUST's broader brand refresh.

According to the Announcement: Upgrade to the JST Buyback & Burn Mechanism, the newly updated framework outlines key structural arrangements across five core areas, establishing clear risk boundaries while securing a more stable and predictable capital foundation for future buybacks:
$50M Treasury Safety Floor: A baseline reserve of at least $50 million will be maintained long-term to manage risk scenarios, guarantee liquidity, and ensure protocol solvency under extreme market conditions.More Diversified Funding Sources: The upgraded model integrates GasFree revenue alongside existing JustLend and USDD streams, extending buyback capital across all three core JUST product lines. Specific sources now include revenue from JustLend's sTRX staking and SBM, GasFree income, and the USDD protocol revenue exceeding the $10 million threshold.Structured Surplus Capital Deployment: All protocol funds above the $50 million treasury reserve floor are dedicated entirely to JST buybacks. An initial $20.34 million—sourced from cumulative GasFree earnings and surplus treasury reserves above the safety floor—has been unlocked, and will be deployed across four buyback rounds starting in Q4 2026.Buyback & Burn Execution: The protocol is adopting a "continuous buyback, periodic burn" approach. Funded by 100% of revenue across all product lines, open-market buybacks will adjust dynamically to prevailing market depth and liquidity, with accumulated tokens burned on a regular schedule.On-Chain Governance: All buybacks and burns will be executed by JUST DAO. Key financial figures will be disclosed to the community on a regular basis, and every transaction will remain fully verifiable on-chain.
Compared to Phase 1, this upgrade introduces three structural shifts:
1. Clearer capital boundaries. The $50 million reserve floor creates a solvency backstop while defining the boundaries of capital eligible for buybacks.
2. More diversified funding sources. Rather than relying primarily on JustLend and USDD, integrating GasFree extends revenue capture across the entire JUST ecosystem. Meanwhile, deploying roughly $20.34 million in surplus funds across future tranches smooths buyback execution and ensures an orderly transition between mechanism phases.
3. Streamlined execution under unified governance. By adopting a "continuous buyback, periodic burn" strategy, the consolidated JUST DAO (formerly JustLend DAO) takes full operational ownership of buybacks and burns. This aligns governance and execution under a single authority, matching JUST's brand consolidation and holistic governance roadmap.

In essence, the updated mechanism follows a clear tripartite playbook: secure the downside, deploy surplus capital, and compound with organic growth. It first anchors ecosystem stability with the $50 million reserve floor, primes buyback momentum by releasing roughly $20.34 million in surplus funds, and then hands the baton to ongoing revenues from all three verticals—turning JST buybacks into a sustainable, business-backed deflationary engine.

GasFree Poised to Become the Second Growth Engine for JST Buybacks After JustLend
The integration of GasFree revenue represents the key highlight of this mechanism upgrade. Scheduled to begin capital allocations in Q4 2026, GasFree has demonstrated strong cash-flow generation and is positioned to become the second growth engine for JST buyback funding after JustLend.

Built on TRON, GasFree is a native gasless solution that lets users pay transaction fees directly with the tokens they transfer, removing the friction of holding TRX or other native tokens just to move funds. By enabling single-asset fee settlement, GasFree eliminates one of the most stubborn usability hurdles in on-chain transfers. The service currently supports gasless transfers for both USDT and USDD.

Operationally, GasFree's user base and network activity continue to climb at a rapid pace. As of October 23, GasFree has processed over $157.1 billion in cumulative stablecoin transfer volume across more than 9.14 million transactions, serving an aggregate user base exceeding 500,000 unique addresses. This surging operational momentum provides the solid backing for GasFree to consistently fuel the buyback pool and establish itself as JST's second major growth engine.
From a revenue standpoint, GasFree's profitability is backed by hard data. It has proven to be a vital growth engine since its March 2025 rollout, generating approximately $12.03 million in cumulative revenue through Q3 2026. This performance underpinned the recent extraction of roughly $20.34 million in surplus funds, sourced directly from GasFree's accrued earnings and surplus treasury holdings above the reserve floor.

As GasFree's financial contribution accelerates, JST's buyback-and-burn model enters a new stage of multi-business synergy. The token's value-accrual mechanism is now deeply tied to the growth of the broader JUST ecosystem and fully synchronized with the protocol's multi-product expansion.


Diversified Value Accrual: JUST’s Core Products Unite to Back JST
Under the updated mechanism, GasFree revenue is now directly allocated to JST buybacks, alongside qualifying net revenue from USDD. This marks a pivotal evolution: JST burns no longer rely solely on JustLend. Instead, they are fueled by a diversified, multi-product revenue base spanning JustLend, USDD, and GasFree.
This multi-pronged funding approach mirrors the broader JUST rebrand. Moving forward, JustLend, USDD, and GasFree unite under a single brand and user gateway—with JUST DAO steering cross-product governance, ecosystem synergy, and sustainable tokenomics for JST.
JST serves as the native governance token for the entire JUST ecosystem. Through this unified rebrand and the rollout of JUST DAO governance, JST's value foundation now spans the protocol's core utility layers: lending and resource markets via JustLend, decentralized stablecoin infrastructure via USDD, and gasless transfer settlement via GasFree. JST is no longer anchored to a single product line; its value capture is directly tied to the growth of the entire ecosystem.

As a pillar of TRON’s financial infrastructure, JUST commands roughly $12.2 billion in Total Value Locked (TVL)—consistently securing nearly half of the network's total liquidity, with all three business pillars holding leading positions in their respective verticals.

Among them, JustLend remains foundational: having fully funded the initial phase of JST buybacks and burns, it now provides the core yield baseline under the upgraded mechanism. As of October 23, JustLend's TVL surpassed $7.13 billion, with its supply-borrow market (SBM) driving approximately $3.71 billion, cementing its status as a global DeFi lending leader. In the staking sector, total TRX staked has crossed 9.83 billion. At the same time, through sTRX-powered Energy solutions, JustLend has become a primary Energy gateway for the TRON network, scaling both on-demand Energy purchases and long-term rental services.
Meanwhile, GasFree continues to scale as a key revenue driver. In late September, GasFree partnered with Binance Web3 Wallet to introduce TRC-20 USDT gas fee delegation. Users can now pay network fees directly in USDT without needing to hold TRX. Securing integration with a Tier-1 wallet validates GasFree's business model and significantly expands its addressable market and fee-generation capacity.

Customers in the Netherlands, Poland, Portugal and Austria can now buy crypto on Paybis through a banking app or a payment reference, with no card details needed. The four methods are the first wave of 13 local payment methods Paybis is adding.
Riga, Latvia October 23, 2026 — Paybis, a global crypto exchange and payment infrastructure provider, today added four local payment methods for buying crypto in Europe. Customers can now pay with iDEAL in the Netherlands, BLIK in Poland, Multibanco in Portugal and EPS in Austria. Cards and bank transfers remain available, but they are no longer the only options.
Four new local payment methods live today: iDEAL, BLIK, Multibanco and EPS.No card details needed: customers confirm payment in their banking app or pay a Multibanco reference.More than 90 cryptocurrencies are available, including Bitcoin, Ethereum, Solana and USDC.First wave of 13 local payment methods; Paybis will support more than 30 ways to pay once all are live.
Local payment methods at national scale
The four methods operate at scale in their home markets. BLIK had 21.6 million active users in Poland at the end of June 2026, according to its operator, Polish Payment Standard. iDEAL processed more than 1.5 billion transactions in 2025 and handled 71% of online purchases in the Netherlands, according to the Dutch Payments Association. The Multibanco network has around 13,000 machines across Portugal, according to SIBS. EPS is offered by more than 11,000 online shops in Austria.
Four methods, four markets
iDEAL Netherlands
Bank selection and confirmation in a banking app
Limit per payment: EUR 50,000
BLIK Poland
Six-digit code from a banking app
Limit per payment: PLN 50,000
Multibanco Portugal
Payment reference, paid at an ATM or in a banking app
Limit per payment: EUR 5,000
EPS Austria
Bank selection and confirmation in online banking
Limit per payment: EUR 10,000
Simple crypto, paid locally
Each method works the way it does for any other online payment in its market. The customer chooses the method at checkout and confirms the payment through their bank, or pays the Multibanco reference. No card details are needed. The crypto goes to the customer’s Paybis Wallet or to any external wallet address. Customers can choose from more than 90 cryptocurrencies, including Bitcoin, Ethereum, Solana and USDC.
“Europe does not pay one way. A customer in Amsterdam reaches for iDEAL, a customer in Warsaw reaches for BLIK, and neither should need a card to buy crypto,” said Innokenty Isers, CEO and Founder of Paybis. “Now customers in the Netherlands, Poland, Portugal and Austria can pay the way they already pay for everything else online. Our philosophy is making crypto easy, and adding local payment methods market by market is how we do that.”
What comes next
iDEAL, BLIK, Multibanco and EPS are the first of 13 local payment methods Paybis is adding. Bancontact, KBC/CBC Bank and Belfius Pay in Belgium and Bancomat Pay in Italy follow in the next wave. Swish, Przelewy24, Vipps and MobilePay come after that. Once all are live, Paybis will support more than 30 ways to pay.
About Paybis
Paybis makes crypto simple for individuals and enterprises. Established in 2014, the company combines a trusted crypto exchange and wallet for buying, selling, swapping and holding over 90 cryptocurrencies, with award-winning crypto-fiat infrastructure. That infrastructure lets businesses transfer capital globally without traditional payment friction.
In 2026, Paybis was recognized as Best Crypto Payment Provider, a testament to its expansive global reach, rapid onboarding protocols, and the deep expertise of the 200 dedicated professionals who drive its operations.
Processing more than $6 billion annually, Paybis is one of the most efficient platforms for acquiring and transacting in digital assets. This commitment to operational excellence is why Paybis maintains one of the highest ratings for crypto companies on Trustpilot, and why 7 million users and hundreds of the world's fastest-growing enterprises consistently rely on its services.

HTX Research, the dedicated research arm of HTX, has published a new report titled Crypto Market Outlook Before and After the 2026 U.S. Midterm Elections.
The report finds that while the midterm elections may reshape policy expectations for the next two years, short-term crypto pricing remains governed by inflation, financing costs, and capital flows. Its base case for the period before and immediately after the vote is one of elevated volatility, repeated repricing, and divergence across assets, rather than a sustained rally driven by a single political narrative.
The report examines how the upcoming elections may affect the pace of crypto legislation, regulatory oversight, and asset pricing. It covers the current macro and funding environment, policy implications under different congressional outcomes, election sensitivity across major crypto asset categories, conditional market scenarios, and a framework of indicators for monitoring developments from the pre-election period through the first half of 2027.
The full report is available at: https://square.htx.com/htx-research-latest-report-crypto-market-outlook-before-and-after-the-2026-u-s-midterm-elections/
*The above content is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.
About HTX Research
HTX Research is the dedicated research arm of HTX Group, responsible for conducting in-depth analyses, producing comprehensive reports, and delivering expert evaluations across a broad spectrum of topics, including cryptocurrency, blockchain technology, and emerging market trends. Committed to providing data-driven insights and strategic foresight, HTX Research plays a pivotal role in shaping industry perspectives and supporting informed decision-making within the digital asset space. Through rigorous research methodologies and cutting-edge analytics, HTX Research remains at the forefront of innovation, driving thought leadership and fostering a deeper understanding of evolving market dynamics.

TRON reinforced its position as a leading blockchain network for stablecoin settlement in the third quarter of 2026, with trillions in transaction volume, record USDT supply, growing payment card adoption, and the debut of the first U.S. spot staked TRX exchange-traded fund (ETF), according to independent research reports from CoinDesk Data and Nansen.
CoinDesk
CoinDesk’s TRON Network Quarterly Report: Q3 2026 provides a technical assessment of the TRON network from July to September 2026. The findings span network and ecosystem developments, core on-chain metrics, and DeFi activity across lending and decentralized exchanges (DEX).
Key Insights from CoinDesk:
Stablecoin Settlement: TRON accounted for approximately 73% of stablecoin transfer volume at the end of Q3 2026, the highest share among blockchain networks.Stablecoin Market Share & USDT Growth: USDT on TRON reached an all-time high of just over $92.7 billion in Q3 2026, lifting TRON’s share of the total USDT market to a 2026 high of 50.6% in mid-September. TRON’s share of total stablecoin market capitalization also rose to 30.2%. Crypto-Card Payments & DeFi Activity: TRON ranked first among chains by crypto-card payment volume in Q3 2026, capturing a 27.5% share worth approximately $638 million as total card volumes grew 60.5% QoQ to $2.32 billion. Total value locked (TVL) on the network rose 26.6% QoQ to $5.7 billion with lending the largest sector at 68%, and JustLend active loans up from $127M to $199M.
Nansen
Nansen’s TRON Quarterly Report: Q3 2026 examines the network’s settlement scale and on-chain behavior over the quarter. It covers stablecoin settlement volume, transaction and address activity, institutional developments, and how users and transactions are distributed across labeled entities on TRON.
Key Insights from Nansen:
Stablecoin Settlement at Scale: TRON settled $2.21 trillion in stablecoins in Q3 2026, with average daily settlement rising 3.9% to $24.05 billion. Cumulative transaction volume on the network also surpassed $30 trillion as of September 23.User Growth & On-Chain Activity: TRON’s user base continued to grow in Q3 2026, with average rolling monthly active addresses up 9.8% QoQ to 18 million, while the network processed an average of 11.68 million successful transactions per day.Expanded Institutional Access: Canary Capital launched the Canary Staked TRX ETF (TRXS), the first U.S. spot staked TRX ETF, on September 9, and TRON DAO rang the Cboe closing bell on September 29 to mark its debut. Anchorage Digital also added native TRX staking and TRC-20 custody as the second phase of its TRON integration.
Across both reports, TRON’s third quarter showed a network growing in volume and in reach at the same time. Stablecoin settlement continued to climb, everyday spending through crypto cards accelerated, and new regulated products gave institutions a direct path to TRX. With that foundation in place, TRON enters the final quarter of 2026 as a settlement network that is increasingly accessible to retail users and institutions alike.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. Today, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $94 billion. As of October 2026, the TRON blockchain has recorded over 410 million in total user accounts, more than 15 billion in total transactions, and over $28 billion in total value locked (TVL), based on TRONSCAN. Recognized as the global settlement layer for stablecoin transactions and everyday purchases with proven success, TRON is “Moving Trillions, Empowering Billions.”

Probly, an on-chain prediction market for sports, politics, crypto, finance, and global events, has concluded its participation as a Gold Sponsor of TOKEN2049 Singapore and co-host of the WHALE3RA Afterparty alongside BloFin, TxFlow, and other ecosystem partners.
Across TOKEN2049 week, Probly connected with traders, builders, infrastructure teams, partners, and Web3 communities around the growing role of prediction markets as a way to express views on real-world events.
The week also gave Probly an opportunity to introduce its approach to prediction markets to a broader crypto-native audience: simple access, broad market coverage, self-custody USDC, peer-to-peer trading, and verifiable on-chain settlement.
From Market Opinions to On-Chain Signals
Prediction markets are increasingly becoming an interface for turning expectations about future events into market signals. For Probly, TOKEN2049 provided an opportunity to bring that idea directly to an audience already accustomed to trading changing market conditions, information, and expectations.
The name Probly comes from “probably,” the word people use when the outcome of an event remains uncertain. It is also inspired by P(A), the mathematical notation used to represent the probability of an event.
Probly currently supports 5,100 events and 47,000 markets across Sports, Geopolitics, Crypto, Finance, Economy, and Politics. The platform also offers 172 active live markets for same-day trading, including high-frequency Crypto “Up or Down” rolling markets across BTC, ETH, SOL, and XRP.
Probly is the first prediction market application developed through TxFlow Improvement Protocol 3 (TIP3). Settlement through TxFlow enables on-chain settlement, automatic USDC payouts, and no manual claim step.
Bringing the Prediction Market Conversation to WHALE3RA
Probly also co-hosted WHALE3RA at MARQUEE Singapore during TOKEN2049 week alongside BloFin, TxFlow, and other ecosystem partners.
The event brought together traders, builders, funds, exchanges, infrastructure teams, and Web3 communities, giving Probly an opportunity to engage directly with many of the audiences shaping the next generation of crypto products.
For Probly, these conversations reinforced an important direction for the product: prediction markets should not be limited to occasional major events. They can become a more active interface for following changing information, forming a view, and trading expectations as events develop.
What Comes Next for Probly
Following TOKEN2049 Singapore, Probly will continue developing its prediction market experience around accessibility, broader event coverage, frequent trading opportunities, and transparent on-chain infrastructure.
The company will also continue working with ecosystem and infrastructure partners as it develops new ways for users to express views on future outcomes through on-chain markets.
TOKEN2049 and WHALE3RA marked another step in bringing Probly’s core idea to a wider audience: uncertainty is everywhere, and markets can make collective expectations around what happens next more visible, transparent, and useful.
Before It Happens.
About Probly
Probly is a prediction market built on TxFlow L1 through TxFlow Improvement Protocol 3 (TIP3). It turns views about future events into continuously updated market signals across sports, crypto, economics, news, culture, weather, and other real-world categories.
Probly combines real-time markets, broad event coverage, fully on-chain settlement, and self-custodied USDC infrastructure. Its mission is to make collective expectations more immediate, transparent, and useful by converting uncertainty into a price.
Important Notice
This announcement is provided for general informational purposes only. It does not constitute an offer, solicitation, recommendation, or invitation to enter into any transaction, event contract, any transaction, event contract, derivative, or other product, derivative, or other product. Nothing in this announcement constitutes investment, financial, legal, or trading advice. References to market information, probability indicators, settlement infrastructure, or product functionality should not be interpreted as a recommendation to participate in any market. References to third-party companies, platforms, and products are provided solely for general industry context. They do not imply affiliation, endorsement, or partnership except where expressly stated.
Probly’s availability, functionality, event coverage, account features, wallet support, and eligibility requirements may vary by jurisdiction. Access is subject to applicable laws, regulations, product rules, geographic restrictions, and eligibility requirements. No person should access or use the application in a jurisdiction where doing so would be prohibited or would require an authorisation that has not been obtained.

Over the past year, JUST has completed five consecutive large-scale buyback-and-burn rounds, permanently removing 1.88B JST tokens from circulation and pushing cumulative deflation toward 19%. Following this milestone, the buyback and burn mechanism is set to undergo a comprehensive upgrade.
On October 17, JUST, the leading DeFi infrastructure in the TRON ecosystem, announced the completion of its fifth buyback and burn of its native token JST as scheduled. Over 170M JST were burned in this round (approx. 1.72% of total supply), backed by nearly $23.53M in capital deployed—all funded directly by JustLend DAO's net operating revenue.
Over the past five rounds, a total of 1.88B JST tokens have been burned, driving the cumulative deflation rate past 19% with over $100M revenue deployed.
JST has reached a key operational milestone following this latest burn: the remaining 70% of JustLend DAO's initial treasury reserves has been fully deployed according to the original plan. This marks the successful completion of the first phase , paving the way for a major mechanism upgrade.


170M+ Tokens (~$23.53M) Burned in JST's Fifth Buyback Round
According to the official announcement released, the fifth JST buyback and burn was successfully completed. As a routine buyback for Q3 2026, a total of 170,723,144 JST tokens (approx. 170M) were burned, representing about 1.72% of the total token supply, with a total value exceeding $23.53M.
Maintaining similar levels of burn scale and capital investment to the previous four rounds, this burn round continues the stable, predictable execution cadence of JST buybacks and burns.
Looking further into the source of funds, the funds invested in this buyback and burn came entirely from JustLend DAO's net operating income, specifically composed of two parts: the remaining $10.34M from JustLend DAO's existing income and the $9.28M QoQ increase in Q3's net income.
In terms of quarterly revenue performance, JustLend DAO's Q3 net income remained steady compared to previous quarters. With quarterly earnings consistently anchored at the eight-figure ($10M+) level, the ecosystem's core revenue streams continue to prove their resilience.
At the same time, deploying the remaining 70% of the initial revenue reserve means that the early-stage treasury reserve plan has officially reached its conclusion—setting the stage for a brand-new phase of the buyback program.

One Year, Five Burns: JST's Price Soars 300% with $100M Deployed from JustLend DAO's Revenue
From its launch in October 2025 to the fifth round on October 16, 2026, the JST buyback and burn mechanism has completed one full year of operation across five consecutive burn rounds. A total of approximately 1.881B JST tokens have been burned, representing a cumulative deflation rate of > 19% with more than $100M deployed from JustLend's revenue.

A breakdown of the five buyback and burn executions is as follows:
- Round 1 (October 19, 2025): Burned ~559M JST (~5.66% of total supply), with ~$17.72M deployed.
- Round 2 (January 14, 2026): Burned ~525M JST (~5.3% of total supply), with ~$21M deployed.
- Round 3 (April 15, 2026): Burned ~271M JST (~2.74% of total supply), with ~$21.3M deployed.
- Round 4 (July 17, 2026): Burned a total of ~355M JST (~3.59% of total supply), with ~$34.59M deployed. In addition to the routine quarterly buyback, this round incorporated dedicated burn funds from USDJ's historical stability fees (~$10.39M) for the first time.
- Round 5 (October 16, 2026): Burned ~170M JST (~1.72% of total supply), with ~$23.53M deployed.
In terms of operational intensity, the execution of five consecutive rounds in a single year—averaging roughly $20M per round, with over $100M committed from real protocol earnings and nearly one-fifth of the total token supply burned—places JST among a select tier of buyback programs rarely seen in the DeFi sector.
This continuous execution has transformed the buyback from a series of short-term news catalysts into a permanent value engine. Rather than acting as an isolated marketing tactic, the program transmits its impact systematically through a five-pillar chain: Capital Foundation—Execution Assurance—Transparency & Trust—Deflationary Scarcity—Market Feedback, cementing a durable foundation for long-term valuation.
On the capital foundation, JST buybacks rely directly on authentic business cash flows. Except for the historical USDJ stability fee allocation in Round 4, every dollar of the $100M+ deployed across all five rounds originated directly from JustLend DAO's organic operating earnings.
In execution assurance, both capital scale and operational cadence have been uncompromisingly delivered. Single-round commitments began at $17.72M in Round 1, stabilized around $20M thereafter, and reached $34.59M in Round 4. Throughout all five quarters, every burn landed strictly on schedule—free from delays, disruptions, or arbitrary cuts.
For transparency and trust, every buyback follows the standard procedure of "pre-disclosed rules, on-schedule execution, and verifiable on-chain proof", backed by immutable on-chain transaction records and open official disclosures.
In deflationary impact, around 1.881B JST tokens have been burned across five rounds, contracting total supply from 9.9B down to ~8.02B—a nearly 19% reduction that continuously compounds structural scarcity.
Ultimately, market feedback validates the mechanism through synchronized gains in both token price and market cap. CoinGecko data shows JST climbing steadily from its ~$0.03 low in October 2025 to an October 10 peak of $0.142—a 300%+ year-to-date surge marking a new high since 2022—while circulating market cap surged past $1B.
This closed-loop flywheel—fueled by authentic revenue, reliable execution, complete transparency, structural deflation, and market validation—has elevated the buyback program far beyond short-term hype, solidifying it as the central pillar sustaining JST's long-term economic value.

Buyback Mechanism Poised for Comprehensive Upgrade as Capital Sources Diversify
With five consecutive rounds now complete, the JST buyback program arrives at a watershed moment: the first phase officially concludes, setting the stage for a new upgraded phase.
Looking back at the initial phase, the framework was initially structured to draw backing jointly from JustLend DAO and USDD. Under the original terms, USDD's cross-chain ecosystem revenue was to feed into the buyback pool once cumulative earnings hit $10M—a threshold not yet reached. Consequently, this early phase operated primarily on JustLend DAO's accumulated treasury reserves alongside the increment in quarterly net revenue. Specifically, the $59M+ reserve earmarked at inception under the plan of "30% upfront, 70% in phased tranches" has now been fully deployed across five rounds. This signifies that the initial phase has smoothly achieved its objectives, clearing the path for the comprehensive upgrade.

As outlined in the JST Q1 2026 financial report released in April, the upgraded JST buyback mechanism will broaden capital sources beyond the existing framework by incorporating revenues from new business streams such as GasFree, providing deeper and more diversified funding for ongoing buybacks.

With the upgraded phase around the corner, JST's long-term deflationary momentum and value-return capabilities are poised to enter an even more sustainable and predictable cycle.

The Digital Sovereignty Alliance (DSA), a nonprofit organization dedicated to advancing clear and ethical public policy, research, and education related to emerging technologies, participated in Nacha’s Payments Innovation Alliance Fall Meeting, where DSA Senior Policy Advisor Molly Woodman joined industry leaders to discuss emerging technologies, regulatory developments, and the future of domestic and global payments.
Held October 14-16 at the InterContinental Chicago Magnificent Mile in Chicago, Illinois, the three-day meeting brought together stakeholders from across the financial services and payments industries to exchange insights, address operational challenges, and explore opportunities for innovation. Discussions focused on evolving payment technologies, regulatory considerations, and practical approaches to navigating an increasingly complex financial landscape.
As part of the Alliance’s ongoing initiatives, Woodman facilitated discussions surrounding the newly launched Next-Gen Currency Project Team, a project co-led by Nacha and DSA. The team explores the global use of digital assets, including stablecoins and tokenized deposits, for money movement. Its work focuses on developing tools to bridge digital assets and traditional payment systems, tracking regulatory developments, identifying operational implications, and providing educational resources to the payments industry.
Throughout the meeting, participants also examined practical challenges facing financial institutions as emerging technologies reshape payment systems. Topics included expectations for financial institutions regarding agentic payments, the reliability of multifactor authentication methods as technology evolves, and emerging approaches to Know Your Agent (KYA) frameworks. Discussions highlighted the importance of industry collaboration in addressing operational uncertainties and developing workable solutions as regulatory frameworks continue to evolve.
“It’s been encouraging to watch financial institutions brainstorm together on how to build some continuity in areas where regulation hasn’t caught up yet,” said Molly Woodman, Senior Policy Advisor at DSA.
DSA’s participation reflects its ongoing commitment to supporting informed policy discussions and collaboration across the financial services and emerging technology sectors. Through its involvement in the Next-Gen Currency Project Team and broader industry engagement, DSA works to advance approaches that support responsible innovation, regulatory clarity, and the integration of emerging technologies into the evolving payments landscape.
About the Digital Sovereignty Alliance
The Digital Sovereignty Alliance (DSA) is a nonprofit social welfare organization committed to advocating for public policies that support ethical innovation in decentralized technologies, blockchain, cryptocurrency, Web3, and artificial intelligence. DSA conducts research, organizes educational events, and promotes policies that prioritize public welfare and digital sovereignty.

As quantum computing advances, the challenge extends beyond Bitcoin's cryptography to the financial infrastructure built around it.
Quantum computing is emerging as one of Bitcoin's long-term security challenges. A sufficiently powerful quantum computer could theoretically compromise the digital signatures protecting Bitcoin transactions, potentially exposing funds associated with vulnerable public keys.
While no publicly demonstrated quantum computer is currently capable of such an attack at scale, the implications extend beyond Bitcoin itself. As Bitcoin becomes increasingly integrated into decentralized finance (DeFi) through tokenized assets such as Wrapped Bitcoin (WBTC), a future cryptographic transition would affect not only the Bitcoin network, but also the financial infrastructure built around it.
The question is no longer simply whether Bitcoin can become quantum-resistant, but whether the broader ecosystem can evolve alongside it.
Beyond the Bitcoin Network
Bitcoin's transition to quantum-resistant cryptography would require more than introducing new signature schemes. Wallets, exchanges, custodians and infrastructure providers would need to adapt their systems, potentially migrating existing BTC holdings to new security standards.
Proposals such as BIP-360 reflect ongoing efforts to explore Bitcoin's future cryptographic architecture. Yet coordinating adoption across a decentralized ecosystem could take years.
For tokenized Bitcoin, the challenge becomes more complex. Even if Bitcoin adopts quantum-resistant cryptography, the custody systems, smart contracts and networks supporting tokenized assets would still require independent security assessments.
Securing Bitcoin itself does not automatically secure everything built around it.
WBTC and the Next Generation of Bitcoin Infrastructure
As an established tokenized Bitcoin asset in DeFi, WBTC illustrates the scale and complexity of securing Bitcoin across multiple financial ecosystems.
With 116,000 WBTC in circulation, representing approximately $9.5 billion in Bitcoin-backed assets, WBTC's infrastructure supports Bitcoin liquidity across lending protocols, decentralized exchanges and multiple blockchain networks.
Backed 1:1 by BTC held in custody, WBTC's long-term resilience depends not only on Bitcoin's underlying cryptography, but also on reserve security, custody operations and the infrastructure supporting minting and redemption.
A future quantum-resistant transition could require custodians to evaluate their key-management systems, migrate underlying BTC reserves and maintain operational continuity throughout the process.
Against this backdrop, WBTC is preparing to migrate to new Custodian Bitcoin Deposit Addresses (CBDAs) as part of its custody infrastructure management. Bitcoin address management is relevant to long-term security because public-key exposure can influence vulnerability to potential quantum attacks. However, the security implications depend on address types and transaction histories, and address migration alone does not establish quantum resistance.
WBTC has also publicly announced its exploration of a multi-custodian reserve model, aimed at reducing custody concentration risk and strengthening operational resilience. While diversification does not directly address quantum vulnerabilities, it could provide greater flexibility as security standards evolve, depending on implementation.
Together, these initiatives highlight the importance of both reserve security and operational resilience as Bitcoin's financial ecosystem expands. Neither replaces the need for quantum-resistant cryptography, but both illustrate the infrastructure considerations involved in preparing for future changes.
Preparing for the Next Era
The timeline for quantum computing remains uncertain, but preparing for potential cryptographic changes is a long-term challenge for the entire Bitcoin ecosystem.
For WBTC, this means considering how custody arrangements, reserve management and supporting blockchain infrastructure could evolve alongside Bitcoin's security standards.
Bitcoin's quantum transition may begin with cryptography, but its success will depend on the resilience of the infrastructure connecting Bitcoin to the wider financial ecosystem.
About WBTC - Bitcoin’s Passport to DEFI
WBTC is the new Bitcoin standard. A singular identity for Bitcoin across multiple chains. It brings Bitcoin into environments where speed, capital efficiency, and scale are essential, while maintaining fidelity to Bitcoin’s original principles. There is no second. WBTC stands alone in its role, trusted, verifiable, and engineered for a multichain world.
Disclaimer: Information provided is for information purposes only and is not financial advice. No representation or warranty has been made as to the content, accuracy, timeliness, suitability or completeness of such information. Participation in DeFi carries risks, always do your own research.