Cas Abbé

My first reaction was to be surprised when Binance announced on 30 January 2026 that the entire Secure Asset Fund for Users (SAFU) will be transferred off stablecoins and into bitcoin.  SAFU is not a conjectural treasury; it is an insurance fund to compensate the customers, in case of a disaster that occurs on the exchange.  Replacement by the most volatile crypto asset of this safety net of low-volatility stablecoins was like replacing a life raft with a surfboard.

The blockchain reveals that Binance moved 1,315BTC (approximately 100 million dollars) to the SAFU wallet.  This is not a promise but some evidence of execution.

The deeper I excavated the story, the more I saw that it is more subtle.  It is a risky move by Binance on the long-term viability of bitcoin, which it is using as a marker of responsibility following a turbulent year.  This paper will discuss what SAFU is, why Binance is actually switching, and what it will involve both to the users and the market at large.  I have added charts and data where it is necessary to aid the visualization of the trends.

What is the SAFU fund?

To provide customers with security against disastrous failures of exchanges Binance had designed SAFU.  The business makes some investment of trading commissions in the fund and holds the assets in cold storage, not in the operational wallets of the exchange.  SAFU is a self-insured pool; in case of hacking or other damages on Binance, the fund will be able to compensate consumers.  With the exchange rate, the fund has been held at around $1 billion over the years, and increased when the markets are unstable.  The reserve so far had a diversified portfolio comprising of US dollar pegged stablecoins and a little bit of bitcoin and BNB.

The name SAFU is also based on the meme funds are safu, a pun on safe.  The phrase was popularized by Changpeng “CZ” Zhao in the course of a maintenance issue, and the community adopted it as the short term definition of reliability.

The conversion announcement

On 30 January 2026 Binance released an open letter to the crypto community stating that it was going to trade the entire 1b SAFU reserve of stablecoins to bitcoin within the next 30 days.  The trade positioned the action as the component of the greater dedication to transparency and resiliency in the industry: “Bitcoin is the cornerstone of the crypto ecosystem and long-term value, the letter explained.

The plan involves the purchase of bitcoins daily as opposed to a big trade.  This strategy restrains disruption of the market and it is consistent.  With about 33 million dollars per day approximated to be converted, the conversion would be estimated to take 30 days hence about 11,900 BTC would have been purchased by early March.  Another promise made by Binance is the rebalancing mechanism: once the value of a fund is reduced to less than 800 million dollars due to fluctuation in the price of bitcoin, the exchange will add more BTC to restore the reserve to the 1 billion goal.  This is to say that Binance is vowing to purchase the dip with the help of its own revenues in the event of markets plummeting.  The SAFU wallet address is transparent and therefore anyone can monitor the conversion process and ensure that the money is kept in segregation.

Why go all‑in on bitcoin?

It is possible to recognize multiple reasons that Binance makes this daring transition:

Signalling reliability and congruence. The exchange must restore credibility after a tumultuous 2025 that saw a 19 billion liquidation cascade and the Binance exchange being accused of having a monopoly on the market.  Turning SAFU into bitcoin will put Binance on par with the industry, having its insurance fund concurrent with the asset that the majority of its users trust.  It also demonstrates that Binance has a vested interest in the game, that is, in case bitcoin crashes, the fund is hit in the same way as users.  In this regard the move is more of a PR message than a monetary one.

Transparency in terms of on-chain audit.  Stablecoins are opaque - users trust the assertions of issuers concerning reserves.  On-Chain verification A bitcoin-only fund can be verified on-chain.  The SAFU wallet may be viewed by anyone, kept track of incoming transactions and ensured the balance does not drop below the $800 million mark.  This openness overcomes the doubt over exchange proof -of-reserves and demonstrates that Binance cares about accountability.

Bitcoin as a store of value over a long time period.  Binance is convinced that bitcoin is an improved long-term reserve compared to dollar-pegged tokens due to its hard-capped supply, and increased institutional adoption.  The exchange notes that users are starting to view stablecoins not as long-term cash analogs but as an exchange rail and trading chips.  By engineering the conversion of the fund to bitcoin, Binance implicitly bets on the future value of BTC which increases the insurance pool.

Possible threats and objections.

Although the benefits of signalling are obvious, the conversion brings in new threats:

- It is volatile which diminishes reliability. The insurance funds are intended to finance any losses in case of crisis but crisis usually accompanies bitcoin sell-offs. According to CryptoSlate, a fund in the same falling asset may end up being a weaker backstop at the time when it is needed the most. Should bitcoin decline by 20 per cent, the SAFU fund will soon drop to the US800 million bottom, compelling Binance to inject cash at a time when liquidity is tight.

- Pro‑cyclicality. Writing a put option on bitcoin Binance is essentially committing to top up the fund in case the prices decline. During a market crash, the exchange is forced to purchase additional BTC to replenish the fund which increases its exposure. Pro-cyclical insurance structures may enhance stress on failure to fulfill promise.

- Governance and centralization. Binance, a privately owned company controls the SAFU wallet. Opponents believe that on-chain transparency will never reduce the custodial risk of a centralized fund. In addition, such conversion does not transform Binance into a publicly held company that is a bitcoin treasury; SAFU is a user-protection fund, not a corporate treasury.

- Market impact. Other analysts thought that the announcement would increase the BTC prices. Practically, bitcoin failed to spike.
According to BeInCrypto, the prices remained lower than they had been recently and the news penetrated the market relatively quietly. Constant daily buying can be slightly supportive, but it has not caused a situation of a rally.

The contextualisation and visualisation of the SAFU conversion.

In order to be more aware of magnitude and consequences of the SAFU conversion, I referred to multiple charts. Such images provide rough or idea values to emphasize fashions and not hard market information.

Composition of the SAFU fund

The former chart is a comparison of the composition of the fund prior to the conversion and after. Prior to the announcement, SAFU had nearly a hundred percent of stablecoins (USDC) and a minor quantity of BTC. Once the conversion, it will be 100 per cent BTC.

Conversion progress
Binance is converting the fund at a rate of 30 days. The chart below represents an estimated BTC buying history, where the accumulation is in shapes of a step as the exchange makes daily purchases.

Bitcoin price pre-announcement.
The price of Bitcoin did not spike when the announcement was made. Indeed it went over sideways and even a little down in the first days of the conversion. The figure below illustrates a rough price movement towards the end of January and the first half of February 2026.

Wider market trends: tokenized assets and stablecoins.

Even though the SAFU conversion is about bitcoin, it is worth getting the bigger picture of the market. This supply of stablecoins has steadily increased over time, with the amount of coins in circulation of approximately US220 billion in January 2025, and estimated amounts of US320 billion in January 2026, as payment rails and an interface between fiat and decentralised finance. Meanwhile, tokenized real-world assets (RWAs) have grown at a rapid pace during just under US5.5 to over US24billion in the market in the same period. These tendencies show how on-chain assets become diversified and tokenisation gains more significance.

Advantages and disadvantages of the conversion.
In order to sum up the discussion, the chart below assigns some of the perceived advantages and dangers of the topic subjectively. Although the move obviously has excellent points on trust and transparency and moderate points on price support, it presents significant risks on volatility and liquidity management.

Rebalancing scenarios
The last chart shows the possible reaction of the fund value in cases of variation in the prices of bitcoins. At 20 percent loss in BTC, the fund will devalue to the US$800 million bottom and needs to be replenished. In case bitcoin does not increase, the value will remain at the vicinity of US$1billion. A 20 per cent jump would propel the value of the fund to about US 1.2 billion, which will provide Binance with more buffer.

Conclusion
The move by Binance to transform its stablecoins insurance fund into bitcoin in a move to convert the insurance fund is a sensational action. On the one hand it highlights the confidence of the exchange in the bitcoin as the foundational asset of the crypto ecosystem and is a signal of trust after a very difficult year. The shift further makes the fund auditing on-chain and puts the interests of Binance in line with those of bitcoin holders. Conversely, it brings volatility to an insurance pool that ought to be reliable in times of crisis and pro-cyclical commitment to acquire additional BTC at times of market stress.

In my opinion, conversion is not as much about seeking profits but rather about accountability and optics. It is Binance speaking by saying that it will put its money where its mouth is, meaning that its insurance fund is pegged on the same asset that its users have. The fate of this bet will be determined by the direction of the price of bitcoin and the capacity of Binance to meet the promise to replenish when it comes to pressure. At present, the SAFU fund is just an experiment to use blockchain transparency and create trust, which is going to be closely monitored by the whole crypto community within the next month.

Plasma is not a faster or cheaper blockchain.
It begins with a simple question: why relocating stablecoins is a difficult task?

When transferring a stablecoin over most networks you need another token, the gas token, make a guess on the fee, hope the network is not overloaded and make another attempt in case of a failure. Even such a simple act as payment or even a money transfer to another country becomes a technical-fuss. Plasma questions: what happens when transmitting digital dollars was as easy and as texting?

A chain constructed about stablecoins but not coins.

The ground-up construction of plasma is done in the case of stablecoins. Stablecoins are not the only possible application of blockchains which are compatible with numerous tokens, games, and dApps.
Plasma makes the twist: Stablecoins become first-class citizens
Design decisions, which seem self-evident to look at. As an illustration, with Plasma, users can send USDT without leaving their own gas bill. Paymaster node pays the fee, which only covers simple transfers, rates, and identifies the sender to limit abuse
The consequence is that a person can attach a wallet, fill it with USDT and begin transferring money without purchasing another token.
Such minor enhancement is significant.
It does away with intellectual obstacles to non-technical users and promotes micro-transactions that are otherwise not cheap, at a few dollars apiece.
Merchants are guaranteed of low prices, predictability and customers do not have to carry around several tokens.
This is viewed by the creators of plasma as the foundation of turning stablecoins into a true medium of exchange rather than a speculative asset.
Sub-second finality and EVM integrity.

Plasma employs PlasmaBFT to transfer funds instantly and this takes less than a second to settle a transaction.

It is compatible with EVM and thus Solidity code will execute identically on Plasma.

Financial facilities and systems Immediate settlement and known tooling reduce the switching cost of wallets, payment processors, and DeFi platforms.

The broader Ethernet code and tools can be reused and developers do not need to learn a new language.

The implementation engine is light and effective and it is based on Reth project.

It has the capacity to process thousands of transactions per second which makes it appropriate in running high volume payments like small e-commerce payments, in-game payments or payroll

Plasma also enables users to make payments using a variety of assets, which include Bitcoin and USDT, among other advanced transfers.
This is flexible, and it is what matters to the users: their assets, rather than the native token of the network.

A rich liquidity plan since the beginning.

The majority of new chains are launched, after which they are hoping that people will deposit and create an ecosystem

Plasma flipped that order

By the time its mainnet was launched in the end of September 2025, it was already able to provide billions of dollars in liquidity to over a hundred DeFi partners. That was not mere hype; the users were able to lend, borrow and trade stablecoins in tight spreads and depth.

In a week, the amount of money locked had gone over 5 billion.

Aave partnership saw more than 6.5billion in deposits come in, thus Plasma became the second largest market on Aave.

It is not just about bragging rights.
Stablecoins should become money, which is easy to spend, invest and convert. Deep pools decrease swings in prices during bulk transfer and draw more protocols and enterprises and generate a virtuous network effect. The very users and institutions of the stablecoin infrastructure of Plasma maintenance is strengthened by them.

The actual products such as Plasma One.

A blockchain can only be useful when people gain advantages of it

That is why the team introduced Plasma One, a neobank that is based on a stablecoin.
It provides the aspects that most consumers require: putting money in a wallet, getting interest, spending it with a card that is accepted in millions of shops and transferring money without charges instantly

Plasma One boasts of over 10% and 4% cashback on card usage and places itself as a high yielding alternative to traditional banks.
The target product location is any place with limited access to dollars, or fluctuating local currencies, such as Istanbul or Buenos Aires, and will be expanded to the Middle East and Southeast Asia.

Plasma One demonstrates that the infrastructure of Plasma allows new services.
Due to the fact that USDT can be transferred free of charge, small daily payments will be feasible.

Through a payment processor integration, customers will be be able to use stablecoins to pay local merchants and the merchant receive local currency.
In due course, Plasma One will be used to pay bills, top-up and remittances through mobile phone.

It is not only a demonstration of a concept but also a legitimate business, which proves that stablecoin rails are capable of providing complete banking services.

The opportunities and challenges in 2026.

At the onset of 2026, Plasma is at a very exciting but demanding crossroads. It controls a strong portion of the DeFi lending business outside Ethereum owing to its emphasis on stable-coins and significant liquidity. The number of users is increasing and off-chain products such as Plasma One are drawing in new customers. However, there are two significant challenges that the network will encounter. Massive unlocking of XPL tokens will occur in July of 2026. The price may wobble in case the early investors and team members sell them off rather than stake them. Plasma has created a staking system, which has an inflation reward schedule to promote holding. The actual issue is to know whether the number of token holders who will stake enough will be made.

Second, the amount of transfers being made every day is growing, and a significant number of users still only make simple transfers with Plasma and do not use it to make high-frequency payments or perform more complex DeFi operations. In order to continue to expand, the network needs to enhance its practical applications. It is planned to roll out Plasma one to other territories, introduce the native Bitcoin bridge (pBTC) to enable Bitcoin holders to transfer their assets into Plasma, and constantly enhance the underlying technology.

An inter-city payment rail.

The fact that Plasma has a technology and a philosophy is what makes it interesting. It does not claim to be the one that does everything to everybody, or follows hype cycles or other short-term focuses. Rather, it has a single objective, and that is, to transfer digital dollars as cheaply, rapidly and reliably. They will help to feel like real money by removing gas complications to simple transfers, reducing settlement times, establishing deep liquidity in day one, and backing the products such as Plasma One. It is a risk, there is no guarantee but should Plasma win its future will not be counted by the imagined heights, but by the very simple fact that payments in stable-coin will be normalized and are here to stay.

#plasma @Plasma
$XPL

A Life-Infrastructure based on Memory and Micro-Payments.
According to Vanar builders, their network is a living infrastructure. The chain involves big amounts of data, minor transactions and ongoing interactions between AI-agents.

Settlements are made within approximately three seconds and charge a fixed amount of approximately half-cent. That pricing model remains fixed even in cases of demand hikes. Micro-payments are viable owing to the predictability of the same. How about a smart meter that can pay your electricity bills one second at a time or an artificial intelligence buying your data. Fees do not increase significantly and thus the charges on these small transactions remain insignificant.

Vanar is also aware of the environment. The units that operate as validator nodes are powered by renewable energy via their cooperation with Google Cloud, and the network compensates any unimpeded emissions. Its infrastructure is built around NVIDIA and the CUDA accelerated AI stack to do heavy computation demonstrating that sustainability and high performance are compatible. Such decisions render Vanar appealing to business firms and regulators who are concerned with energy use.

A Hybrid Storage Model: Fast but Secure

The Neutron layer has a hybrid form of storage that makes Vanar different to the classic blockchains. Seeds are defaulted to offchain storage to ensure that the system is fast. The users may anchor seeds on-chain to enable auditability and ownership. On-chain anchoring stores unalterable metadata and encrypted files hashes but keeps secret content, as the owner is the only one that has access to the decryption key. AI embeddings are considered as a type of seed so that they can be searched by meaning. This forms a living memory layer on which autonomous agents have access to and can perform actions on data. It goes beyond a fixed documentation to an active knowledge system.

Kayon AI: Harnessing the Data of the Many Different Places

The Vanar stack has a brain known as Kayon AI. It integrates with popular business tools including Gmail, Google Drive, Slack, Notion, Salesforce, and others, and converts very fragmented files, messages, and spreadsheets into an organized knowledge base. Users decide on signing in and what sources of data to connect. Everything is encrypted and it is processed and integrations may be removed anytime and thus the user has all the control. After being connected, Kayon then allows natural-language queries over all sources, e.g.: find all documents about our Q3 roadmap, or summarise the last conversation with a client. Responses are properly cited and placed. Kayon has APIs, which developers can use to build applications on this structured data. Kayon can become a universal productivity AI backend in the future with future expansions to Jira, HubSpot, and Stripe.

Personal AI Agents and Universal Memory.

MyNeutron projects this intelligence to individuals. MyNeutron, which is introduced in October 2025, allows one to create personal AI agents, which are capable of remembering interactions between tools. These agents not only communicate but purchase and sell items in the game, organize activities according to what you have already done and what you prefer. The memory layer makes them not have to begin every time. In case you post meeting notes, they can be remembered by an AI later on when writing an email or making a choice.

Pilot is another experiment Vanar does with natural-language wallets. Pilot allows users to tell the wallet to transfer tokens or mint NFTs or work with smart contracts in simple phrases. This reduces the non-technical barrier and introduces the convenient voice assistant experience to blockchain communication. It illustrates how memory and thinking can be bundled to normal applications.

Monte Video as a Testbed in AI Interaction.
In the World of Dypians game, it is possible to see how the stack by Vanar can be helpful in creating AI-driven experiences. It is a massive multiplayer game that occupies more than 2,000 square kilometres in a metaverse space and which operates on Vanar and has more than 30,000 active players and a total of over 155 million on-chain transactions. It also has AI-driven non-player characters dynamic to player behaviour, exhibiting real-time reasoning on the chain. Vanar provides Unreal and Unity developer-friendly APIs, micro-payments on in-game purchases, and social interaction and quests modules. This infrastructure demonstrates that AI-native features are no longer a concept in theory but are implemented in an environment where the consumer uses it practically.
Partnerships Global and Enterprise Grade.
A number of high-profile partnerships give Vanar credibility. NVIDIA has been providing acceleration of AI, which allows the network to execute heavy computations. Validators are operated by Google Cloud and BCW Group using renewable energy, which exchange billions of fiat-to-cryptocurrencies. Worldpay integrates Vanar into the payment rails and allows on-chain assets to be purchased in more than 150 currencies with a success rate of more than 99 percent. Emirates Digital Wallet, which is owned by fifteen banks, implemented Vanar infrastructures in the Middle East to serve over 13 million customers. Viva Games Studios, creators of Disney and Hasbro games, is introducing its portfolio of games to Vanar, with actual content pipelines. Such deals demonstrate that Vanar is not a white paper, it is a part of financial and gaming ecosystems.
Beyond Speculation Token Utility.
The price of VANRY exceeds transaction charges. The advanced functionality of Neutron and Kayon will be paid with VANRY starting Q1 2026, and this will establish a subscription format referencing the usage directly. Validators post tokens as a security to the network and get rewards. VANRY will be burnt by some of its operations, putting deflationary pressure on supply. This design will help to link the value of the token to the adoption of the platform, as opposed to speculation.
Outlook: Quantum Research and Market Reality.
Vanar is studying quantum resistant encryption to secure the future attack by quantum computers which have the potential of breaking the current cryptography. These are futuristic and not operational yet and exhibit the long-term focus of the team on security. Today, VANRY is trading at a small size relative to their technological prospects. The innovation disparity and market acceptance is a norm in crypto. The increase in the value of the token will depend on the rate at which the AI functionality of the network is adopted. Vanar thinks that AI agents will become an important economic participant and that a memory and reasoning chain will be a necessity. The market will challenge this vision as enterprises, gamers and developers embrace the stack.
Summary: A Platform of Autonomous Economies.
Vanar Chain will combine and offer hybrid storage, intelligent querying, progressive decentralisation and low cost transactions in a single platform. Not only is it made to store but also to understand and act on data, but it is perfectly suited to an age of AI agents and constant micro-transactions. Everything at Vanar, including gaming and metaverse experiments, supply-chain tracking, payments, and personal AI assistants, is undergoing testing in a wide variety of areas. These experiments may or may not turn into a dominant infrastructure, it will depend on the market adoption, acceptance of the regulations, and the rate of the development of AI. One thing is apparent: Vanar is developing a full stack to a future when data can speak itself and smart contracts can make decisions based on this in real-time.
#Vanar @Vanarchain
$VANRY

Introduction
Dusk Network is not trying to be just another privacy coin. Its goal is much bigger. Dusk wants to build the basic infrastructure that real financial systems can use on a public blockchain. On January 7, 2025, Dusk launched its main network after more than six years of work. The team sees this launch not as the finish line, but as the starting point for a new kind of financial system.

In this system, payments, asset issuance, and settlement can all happen on-chain while keeping sensitive information private and still allowing audits when needed. After the launch, Dusk focused on several major upgrades: regulated payments, an Ethereum-compatible smart contract layer, new staking models, and a system for tokenizing real-world assets. By breaking the blockchain into separate parts and adding cross-chain connections, Dusk aims to serve developers and institutions that need both privacy and legal clarity.

Dusk Pay – regulated payments on blockchain

One of Dusk’s first major upgrades after launch is Dusk Pay. This is a payment system designed to follow financial rules while running on a blockchain. It is built around a digital token that represents real money, similar to a regulated stablecoin.

Dusk Pay is designed so individuals and institutions can make payments that are legally recognized. This makes it suitable for everyday use under European financial laws. By combining blockchain transfers with legal recognition, payments can be faster and cheaper than traditional systems.

At the same time, Dusk Pay uses Dusk’s privacy features. This means normal payment details can stay private, while regulators can still check the system when required. In simple terms, people get privacy, and authorities still get oversight.

Lightspeed – smart contracts that work like Ethereum

Dusk created Lightspeed to make it easy for developers to build on the network. Lightspeed is compatible with Ethereum’s smart contract system, which means developers can use familiar tools and programming languages.

Instead of creating a completely new system, Dusk chose compatibility to reduce friction. Smart contracts run on a layer that handles execution, while the main Dusk chain handles settlement, security, and privacy. This separation allows the system to evolve without breaking everything.

Lightspeed uses a modern design that allows data to be handled efficiently and upgraded over time. Right now, transactions finalize after a short delay, but future updates aim to make final settlement almost instant.

For developers, this means they can deploy Ethereum-style contracts while gaining privacy features. Contracts can stay private by default and reveal information only when proof is needed, such as for regulators or business partners. With future cross-chain connections, assets on Dusk can also move between Ethereum, Solana, and Dusk’s own smart contract layer.

Hyperstaking – easier and smarter staking

Most blockchains require users to manually stake tokens or delegate them to validators. Dusk simplifies this with a system called hyperstaking. In hyperstaking, smart contracts can handle staking automatically.

This allows new services like staking pools, where users deposit tokens and let a contract manage everything. Users can still earn staking rewards while keeping access to their funds through derivative tokens. This improves liquidity and makes staking easier for everyone.

Hyperstaking also allows new models, such as reward-sharing systems where users earn extra benefits by bringing new participants. These features turn staking into a flexible financial tool rather than a technical chore.

Dusk still keeps traditional staking rules. Users need a minimum amount of tokens to stake, but there is no maximum limit. Staked tokens become active after a short period, and users can unstake without penalties. New tokens are released slowly over decades, with rewards reducing every few years. Validators who misbehave are temporarily suspended instead of permanently punished. This design encourages long-term participation and network stability.

Zedger – tokenizing real-world assets
Dusk is not only about payments and staking. It also focuses on tokenizing real-world assets like stocks, bonds, and property. This is where Zedger comes in.

Zedger is designed for assets that must follow strict laws. Unlike simple tokens, Zedger tokens know who is allowed to own them and who is not. Transfers are restricted, investor identities are checked, and rules are enforced directly by smart contracts.

Real-world assets often need special actions like dividends, voting, or court-ordered changes. Zedger includes these features by design. If someone loses access to their wallet or a legal authority orders a change, authorized parties can move tokens safely. Only approved investors can hold or trade these assets. This turns tokenized assets into fully usable financial instruments, not just digital representations.

Two transaction types – public and private on the same chain
At the same time, Dusk Pay uses Dusk’s privacy features. This means normal payment details can stay private, while regulators can still check the system when required. In simple terms, people get privacy, and authorities still get oversight.

Lightspeed – smart contracts that work like Ethereum

Dusk created Lightspeed to make it easy for developers to build on the network. Lightspeed is compatible with Ethereum’s smart contract system, which means developers can use familiar tools and programming languages.

Instead of creating a completely new system, Dusk chose compatibility to reduce friction. Smart contracts run on a layer that handles execution, while the main Dusk chain handles settlement, security, and privacy. This separation allows the system to evolve without breaking everything.

Lightspeed uses a modern design that allows data to be handled efficiently and upgraded over time. Right now, transactions finalize after a short delay, but future updates aim to make final settlement almost instant.

For developers, this means they can deploy Ethereum-style contracts while gaining privacy features. Contracts can stay private by default and reveal information only when proof is needed, such as for regulators or business partners. With future cross-chain connections, assets on Dusk can also move between Ethereum, Solana, and Dusk’s own smart contract layer.

Hyperstaking – easier and smarter staking
Most blockchains require users to manually stake tokens or delegate them to validators. Dusk simplifies this with a system called hyperstaking. In hyperstaking, smart contracts can handle staking automatically.
This allows new services like staking pools, where users deposit tokens and let a contract manage everything. Users can still earn staking rewards while keeping access to their funds through derivative tokens. This improves liquidity and makes staking easier for everyone.
Hyperstaking also allows new models, such as reward-sharing systems where users earn extra benefits by bringing new participants. These features turn staking into a flexible financial tool rather than a technical chore.
Dusk still keeps traditional staking rules. Users need a minimum amount of tokens to stake, but there is no maximum limit. Staked tokens become active after a short period, and users can unstake without penalties. New tokens are released slowly over decades, with rewards reducing every few years. Validators who misbehave are temporarily suspended instead of permanently punished. This design encourages long-term participation and network stability.
Zedger – tokenizing real-world assets
Dusk is not only about payments and staking. It also focuses on tokenizing real-world assets like stocks, bonds, and property. This is where Zedger comes in.

Zedger is designed for assets that must follow strict laws. Unlike simple tokens, Zedger tokens know who is allowed to own them and who is not. Transfers are restricted, investor identities are checked, and rules are enforced directly by smart contracts.

Real-world assets often need special actions like dividends, voting, or court-ordered changes. Zedger includes these features by design. If someone loses access to their wallet or a legal authority orders a change, authorized parties can move tokens safely. Only approved investors can hold or trade these assets. This turns tokenized assets into fully usable financial instruments, not just digital representations.

Two transaction types – public and private on the same chain
Dusk supports two ways to move assets. One is fully transparent, where balances and transfers are visible. The other is fully private, where transaction details are hidden using cryptography.

In private mode, the sender, receiver, and amount are hidden, but the system still proves that everything is valid. Users can share specific details later if needed, such as during an audit.

Both transaction types exist on the same blockchain. Assets can move between public and private modes without leaving the network. This allows Dusk to support open systems that need transparency and regulated products that need confidentiality, all in one place.

Bridges and cross-chain connections

As Dusk moves toward a modular design, bridges become important. Users can move tokens between Dusk’s settlement layer and its smart contract layer. Tokens used for private transactions must first be made public before moving across layers.

Once bridged, DUSK tokens are used to pay transaction fees and run smart contracts. Future upgrades allow assets to move across different blockchains using secure cross-chain technology. This lets Dusk assets interact with Ethereum and Solana ecosystems.

When Dusk launched its main network, older tokens from other chains were burned and replaced with native tokens. This ensured a clean supply and allowed all tokens to participate in the new system. With Ethereum compatibility, Dusk aims to attract developers who want privacy without giving up existing tools.

Why all this matters

Finance needs privacy to protect users and markets, but it also needs rules and proof. Dusk is built around this balance. Users can choose privacy or transparency depending on the situation. Payments and smart contracts follow regulations. Staking becomes flexible and liquid. Tokenized assets follow real laws. Cryptography ensures everything works securely.

By separating settlement from execution, Dusk can upgrade parts of the system without disrupting everything else. This mirrors how traditional finance separates roles like exchanges and clearing systems. With cross-chain connections, assets created on Dusk can eventually work with the wider blockchain world.

Conclusion

Dusk Network is not just another blockchain. It is building a private, compliant, and flexible financial infrastructure. Through regulated payments, Ethereum-compatible smart contracts, advanced staking, real-world asset tokenization, and privacy-preserving transactions, Dusk creates tools that both institutions and developers can use.

Privacy is built in, but proof is always possible. As cross-chain connections improve and adoption grows, Dusk could become a meeting point between traditional finance and decentralized finance. Whether this vision succeeds depends on real usage and regulatory progress, but the foundation built in 2025 and 2026 shows a serious effort to create the future rails of on-chain finance.

#Dusk @Dusk
$DUSK

The decentralization of blockchain projects is frequently touted as a strength of the project, at the cost of regulation. Plasma moves in another direction. Its founders realize that it can only be adopted in reality once it becomes stable and compliant. They view stablecoins as a linkage between crypto and conventional finance and they think that the linkage needs to comply with the rules. This article discusses the process through which Plasma is developing its payments infrastructure by licensing, partnership and a strategy that would make regulators nod their heads.
Owning the regulated stack

In October 2025 plasmas stated that it has purchased a Virtual Asset Service Provider (VASP) licensed entity based in Italy and established a compliance center in the Netherlands. It is not a mere formal legalism. New Markets in Crypto-Assets (MiCA) regulation in Europe entails the licensing of service providers. Plasma is enabled to offer custody and exchange services on a harmonized basis through a VASP license. The team is also seeking an Electronic Money institute (EMI) license. With an EMI license they would be allowed to issue stored-value accounts and payment cards, be directly integrated with bank rails and deal with fiat on and off-ramps. In brief, Plasma desires to manage the storage of stablecoins through issuing debit cards in an entirely regulated setting.

Why is this significant? Since controlling the stack eliminates the reliance on the payment processors and banks as third parties. It reduces the expenses, accelerates the product launch, and provides the company with greater control. It also provides users with confidence that Plasma works under strict standards of compliance. These licenses are essential to a network that wants to be the foundation of payments using global stablecoins. They enable Plasma to facilitate large partners, i.e. payroll companies, fintechs, and remittance providers, who cannot operate without compliance.

Compliance as a product but not a burden

Regulation usually appears to be like putting a restraint on innovation. Plasma has a different description: compliance may be an aspect. One of the partnerships that the network entered into in December 2025 saw it collaborating with a company known as MassPay to provide near-immediate payouts to over 230 nations. In this collaboration, the clients of MassPay will be able to repay in USDT in the Plasma and exchange the money when necessary into the local currencies. More importantly, all payouts will be vetted through anti-money laundering (AML) and know-your-customer (KYC) checks. The network is connected with the third-party compliance systems such as Elliptic to screen transactions. That is, the rails of Plasma are made to facilitate high-volume low-cost payouts without compromising legal protection. This is attractive to businesses that require speed and compliance (gig-economy platforms, ecommerce marketplaces, payroll services, and so on).

An opt-in confidentiality module of transfers using USDT was also implemented by plasma. It employs cryptography to conceal transaction information to the general population without allowing the authorized groups to inspect the information. It is not a complete privacy chain, but rather, it is meant to provide a balance between user confidentiality and the necessity of regulators and partners to track flows. This is an intermediate ground that is vital to the companies dealing with the sensitive financial information and requiring them to pass audits.

Entering into cross-chain liquidity pools

One of the pieces of the puzzle is regulation. The other one is interoperability. Plasma was also integrated with NEAR Intents in January 2026, a cross-chain liquidity protocol, which will transfer large amounts of USDT. The integration introduces the native token of Plasma, XPL, and USDT0 (the omnichain version of USDT by Tether) into a pool shared among over twenty-five blockchains. It is that users can exchange assets between Plasma and networks such as Ethereum, Arbitrum, and Avalanche without bridging assets. In case of business, this increases the stack of regulated payments of Plasma. Indicatively, an organization might compensate freelancers on Solana with money on Plasma without accessing several networks.
Plasma will become the conforming clearinghouse of the stablecoin economy by using regulatory qualifications and cross-chain connectivity. It uses the liquidity of other networks together with providing an institutional settlement backbone that is stable and compliant. This approach is specially applicable because global regulators are more concerned with stablecoins. Businesses desire associates that are capable of integrating into old systems and meeting the compliance requirements of regulators. The cross-chain integration of plasma demonstrates that compliance and openness are non-oppressive.
One licensed neobank Plasma One.
All these licenses and integrations culminate to Plasma One, which is a neobank created by the company on the basis of its payments stack. Plasma One comes with a wallet which contains USDT, is an interest-generating wallet, offers a debit card and does instant transfers. It is not a normal bank; it is a financial technology. Nevertheless, the intention to obtain EMI and other licenses will allow Plasma One to have access to card networks and bank rails on a legal basis. This assists it in its activities in territories where crypto only products would be restricted. Plasma One offers an array of cashbacks, high-yield, and the 24 hours access to funds. In the countries with weak currencies or minimal banking facilities, this yield, liquidity, and compliance package is appealing to a user.
In the view of Plasma, Plasma One is a showcase and an experiment. The company has control of the entire stack, which includes licensing, compliance, technology, and it is able to iterate faster and provide a product that can be replicated by other builders. Over time, one use of the licensed infrastructure of Plasma would be by third-party developers to create their own neobanks or payment apps. This network effect may be valuable as the core chain itself.
Future outlook: Regulation as an asset.
With the current trend of increasing supply of stablecoins and governments around the world responding to it, two categories of stablecoin infrastructure will probably emerge: those that comply and those that do not. Plasma is placing a bet with clarity on the former group. Its licensing business in Europe, its moves into new areas and its compliance with the changes in laws provide it with the way to mainstream adoption. Although the crypto world takes regulation and red tape as synonyms, the attitude of Plasma is another tale: the ability to follow regulations opens up the previously closed markets. In order to turn digital dollars into business and consumer transactions, they must have rails of which regulators have faith. Plasma aims to be that rail.
#plasma $XPL @Plasma

An Upgrade: The V23 Protocol.

In 2025 Vanar achieved an upgrade to the V23 a significant overhaul where Stellar SCP was merged with Vanar architecture.
The new system employs federated Byzantine agreement allowing the nodes to verify one another automatically. Consensus is still achieved even with the failure of some nodes making the network more resilient. An open-port verification system gives security a boost: every node should complete IP and port checks, which prevents malicious actors and false contributions. Performance also rises. Smart memory and dynamic block sizes reduce the latency with block time being three seconds. Now users do not have to update manually; changes in ledger only enter the book within a few seconds and the validation of changes take just a few minutes.

These enhancements led to practical use. The V23 jump shot on-chain nodes to a new high of approximately 18,000 and the success rate of the transaction was 99.98. It was clearing over nine million transactions daily, and the transactions were completed without congestion. Such reliability is very important in finance, gaming and business.

A Token Economy of the Community.

Designed in conjunction with the V23 upgrade, the token design of Vanar is limited to a total of 2.4 billion VANRY. Half of them were issued to replace the original TVK token. The rest of the 1.2 billion tokens are allocated out over a period of two decades so as not to cause immediate inflation and to tie the rewards to long term growth. Validators receive tokens eighty-three percent of which promotes network security. The thirteen percent is used in continuous technological development, and the four percent is the contribution to community event and airdrops. There are no tokens on the founding team, which reduces the possibility of massive sell-offs. The more the network is used, the more VANRY is burned, their supply is decreased, and there is a loop of use-burn-scarcity.

Vanar will soon implement Governance Proposal 2.0, which will allow the holders of the tokens to vote on the settings of the AI models, rules of incentives and fees charged by smart-contract. That will provide the community with a first-hand influence in the direction of the protocol. A fixed fee system makes the costs predictable and reasonable even when the demand is high.

Gaming: A Gateway to Adoption

Following the upgrade, the VGN gaming network at Vanar went up. Soroban contracts make it possible to create advanced in-game economies that have dynamic pricing, rewards powered by AI, and cross-chain transactions. One of its flagship games, Jetpack Hyperleague, introduced an on-chain AI task system; players receive NFTs and VANRY through personal missions. By early 2026, the in-game trade had reached over 1.2 billion dollars and the number of registrations reached 15 million. More than 60 percent were legacy gamers and this is a confirmation that low prices and immediate finality is an attraction to mainstream users. The network introduced eleven or twelve new games that year and increased its developer base by 89 percent and was able to build a diverse library

Brand Partnerships and Metaverse.

Beyond gaming Vanar Virtua metaverse is an emerging virtual-real community. The virtual brand showrooms and cross platform identity allow users to interact with brands in immersive environments. In one of its most recent collaborations with fashion house Valentino, a virtual fashion show was hosted; viewers could watch, purchase co-brandied merchandise and receive a discount on physical products. During the initial month the event attracted more than three million participants and 180million collectibles sold. The identity system allows the free movement of avatars and NFTs across VGN and partner sites to create a single Web3 identity and enhance the engagement.

PayFi and Real-Life Applications.

In 2026, Vanar strengthened the relationship with Worldpay. Customers have the option to purchase on-chain assets in 150 fiat currencies and it has a success rate of over 99.

The transition is a bridge between conventional banking and blockchain that facilitates the access of new users. Vanar provides visibility in supply chains: AI and smart contracts check production, transportation, and sales, increasing the traceability by 60 0.01 and reducing the risk of counterfeit by approximately 50 percent. In an attempt to encourage corporate adoption, Vanar introduced a $50M Web3 Brand Accelerator. It has added 27 brands in fashion, cosmetics and consumer goods, which receive tech support, marketing and access to the ecosystem.

Another Differentiation in Layer 1 Competition.

Layer-1 chains are clogging the 2026 Web3 space. Vanar seeks to distinguish itself on the basis of three pillars which are architecture, ecosystem and token design. It incorporates the FBA consensus of Stellar, AI-native and open-port checks into a scalable and secure core. It has gaming, metaverse, brand, and business services and thus has more applications near gaming compared to narrow chains. Its token model, whose release schedule is long, no team members are assigned and there is community governance creates trust and draws institutions. Vanar intends to expand globally, especially in quickly expanding Web3 regions like Southeast Asia and Middle East, and expects to hit fifty million users.

Losing the Digital Age to the Physical.

The 202526 story by Vanar demonstrates how a blockchain can shift to an entertainment industry-wide ecosystem and not just a gaming hub. AI-assisted compliance, low charges, and high throughput allows users to lock legal agreements, provide records and branded tales to the chain. Cutting the entry cost of developers and users, providing real-world incentives with tokenomics and partnerships makes Vanar the infrastructure of mainstream adoption. It depends on whether these real-life connections will sustain demand; though the momentum gathered to date is suggesting a sunny road ahead.

#Vanar @Vanarchain
$VANRY

Introduction
A technical challenge, such as deploying real financial products (stocks and bonds) on a public blockchain is more than merely a technical challenge. It must also be legally approved and have a good market structure. Dusk Network is fully aware of this. Dusk also collaborates with regulators and licensed financial companies instead of ignoring regulations.

Numerous cryptocurrency ventures promote decentralization and evade control. Dusk takes another path. It is developing a blockchain with the capability to accommodate regulated assets on a legal basis. It explains the way Dusk is partnering with licensed exchanges, like NPEX and 21X, why it wants to trade and settle via a special license, the way its trading platform STOX connects, and the impact of European regulations on its strategy.

NPEX alliance - acquiring actual financial licenses.

Dusk is collaborating with NPEX, a Dutch licensed exchange in 2025. The collaboration provided Dusk with a number of major financial licenses: trading, brokerage services, crowdfunding, and special blockchain trading and settlement license.

Such licenses allow Dusk to engage in the trade within regulated assets like stocks and bonds in a legal manner. The distinction is that compliance is built in the blockchain. Applications created on Dusk thus do not have to resolve legal problems, the regulations exist at the network level.

The joint venture formed the NPEX dApp, which is a regulated market through which companies can issue tokenized assets, and investors can trade these assets. It is directly linked to the smart-contracts of Dusk and allows the use of assets of NPEX, 21X, and other institutions. Dusk and NPEX are showing that regulated on-chain trading can be conducted in a non-problematic and safe manner by beginning with real-world assets in current markets.

21X collaboration - regulated trading under the DLT Pilot regime.

Dusk collaborates with 21X, a company that was one of the first to obtain permission to implement blockchain-based trading and settlement systems in Europe. The acceptance of that is based on a special European framework that allows testing markets based on blockchain under strict rules.
As opposed to most of the controlled platforms, which are based on a private blockchain, 21X is based on public networks. Dusk is a newcomer to the trading industry and expects to become more integrated in the long run. It aims to utilize the smart-contract layer of Dusk as a supported blockchain to do regulated trading.
The collaboration underlines the management of reserve of stable-coins. The issuers of stable-coins require safe and controlled means of handling huge amounts of money and assets. The privacy aspect that dusk offers facilitates big trades without the exposure of sensitive information but allows regulators to have access to any information when required.
Because the value of real-world assets like stocks and bonds is significant, this collaboration makes Dusk a legitimate platform through which the latter is transferred to the blockchain.
A blockchain stock exchange and Cordial Systems.
The other achievement was when Cordial Systems became part of Dusk and NPEX to create one of the first blockchain-based stock exchanges in Europe. NPEX already has the authorization to operate a regulated trading venue and has Dusk as the blockchain infrastructure to issue and trade assets.
Cordial supplies provide wallet technology that enables institutions to have direct control over their assets without a third-party custodian. This is essential to banks and big investors who need all key control.
With Dusk, NPEX gains privacy, in-built compliance, and DeFi tools without breaking the financial regulations. Technically, it was straight forward to integrate Dusk and the tokenized assets in real life have already been released. This demonstrates the fact that regulated stock trading can be supported by public blockchains, rather than experiments.
STOX the trading platform - own by Dusk.

Besides partnerships, Dusk is also developing its own trading platform, STOX. The idea of the platform is to put regulated assets on-chain, such as, money-market funds, stocks, and bonds, directly to users.
STOX will be installed on the smart-contract of Dusk and will be rolled out in stages. It starts small with few partners and assets, and expands over time. STOX is not a substitute of NPEX but it also works with it. NPEX is licensed as a broker and as such, STOX can legally offer a large array of regulated assets.
As it develops its own platform, Dusk has gained control over the entire process- user-onboarding to the ultimate settlement. STOX is able to combine staking rewards, payments and tokenized assets in a manner that traditional brokers cannot. In the long-term, Dusk aims to introduce users of both conventional and DeFi into a single market.
An important regulatory objective is the DLT -TSS license.
One of the key points of the Dusk strategy is a special license that will allow the blockchain systems to trade and settle securities. It is also time-consuming and requires close cooperation with exchanges, lawyers, and regulators in order to receive this license.
Upon approval, the license will enable assets to be issued on the blockchain without necessarily having traditional custodians. The system should completely adhere to European financial regulations, such as the crypto asset and the financial service provider regulations.
Before launching its products, Dusk works hand in hand with regulators to meet these requirements through its blockchain and applications. It is also a pre-emptive measure that will avoid future legal challenges and it shows that Dusk is, in fact, dedicated to regulation.
The institution readiness and compliance to miCA.
The European crypto regulations distinguish between digital assets namely payment tokens, asset-backed tokens, and utility tokens. The technology of Dusk is designed to serve all these types correctly.
Dusk implements legal regulations in its smart contracts and network structure instead of making companies develop their own compliance tools. This eases regulated product issuance by regulators and assures the regulators that the system promotes investor protection and market regulations.
This preparedness is important to institutions that are incapable of bearing legal risks. The looming of dusk reduces the obstacles of using blockchain infrastructure by traditional organizations.
Forced transfers, identity and security lifecycle.
The administration of on-chain securities does not only involve transferring tokens. Dusk includes features that deal with real-life situations.
Forced transfer is a mechanism that allows authorized individuals to transfer assets in case an investor loses access to it or a court decides to reverse it. It also gives the investors protection and makes it easy to settle dispute although it is somewhat centralizing the control.
Dusk also enables on-chain voting in case of token owners. Shareholder votes can be conducted by companies with a set time to vote and power is considered to be in terms of the number of tokens.
There is a requirement of identity checks. The trading of regulated assets should verify the investors and only the qualified people should possess such tokens, and the system remains not violating the financial laws.
Dusk as a depository securities depository.

Dusk has been moving towards the operation as a central securities depository, which would handle electronic ownership records and settlements on-chain.
This will save expenditures as opposed to old systems that are based on costly charges and brokers. Settlement are nearly immediate, and compliance is an inbuilt part of the process. The model of Dusk will provide a sustainable solution to the digital securities as the sandboxes of the temporary regulations are abandoned.
This is a major achievement towards becoming a blockchain-based securities depository. It positions Dusk on the same level as the traditional providers of financial infrastructure and indicates that it is highly trusted by regulators.
Chainlink connection and cross-chain access.
Dusk is linked to other blockchains through cross-chain system, which enables the transfer of assets and tokens in Dusk, Ethereum, and Solana without any risk.
Chainlink is also a provider of reliable market information, which is necessary to the regulated trading. This integration allows to regulate assets of Dusk to interact with the rest of the blockchain ecosystem and maintain privacy and compliance.
In this arrangement, the assets of Dusk are not limited to one chain, but can be deployed in many systems without affected legal safeguards.
Stablecoins and momentum of real-world assets.
One of the initial applications of the regulated infrastructure of Dusk can be stablecoin reserves. Issuers of stablecoins require safe methods of purchasing and selling regulated assets that support their tokens.
This can be done through the partnerships of Dusk under European regulations and the network is also compatible with payment-centered firms, not just securities but real-life finance.
Dusk is set to be the blockchain layer that provides the opportunity to issue, trade, and settle tokenized funds and stablecoins as legitimate assets as institutions move towards greater adoption of these technologies.
Conclusion
Dusk Network is acting in a very bold and disciplined manner. It is constructing an official blockchain uniquely to regulated finance, in conjunction with licensed exchanges, creating its own buying and selling platform, pursuing key licenses, and embedding closely with European regulations. This provides a legal basis that is not trying to be covered by many crypto projects.
Simultaneously, it provides more current blockchain functions, including privacy, rapid settlement, staking and cross-chain access. The identity checks, forced transfers, and on-chain voting are just some of the tools that solve the real operational dilemmas.
The real test is next. Provided that the platforms of Dusk draw real companies, investors, and trading activity, it might be fundamental infrastructure of tokenized finance. The success would demonstrate that public blockchains and financial regulation can work instead of confront one another and drive the future of markets.
#Dusk
$DUSK @Dusk_Foundation

Plasma began as a chain that is best used to transfer stablecoins. It soon gained liquidity, became part of DeFi protocols, and was a regulated neobank. Today, at the beginning of 2026, the project is on the verge of its next adventure: globalization and a more extensive connection with the entire crypto-community. This article discusses the way Plasma intends on expanding its user base, integrate Bitcoin into its system, and overcome the difficulties of scaling fast.

More than the early markets: East and south

Plasma One first focused on the high dollar cities like Istanbul and Buenos Aires. These areas are characterized by very high inflation rates and they are consumers of digital dollars. Plasma is targeting Middle East and Southeast Asia in 2026. These are the areas with high populations of migrant workers that remit money, as well as with the fast-rising digital economies. In order to achieve success, Plasma should localize its services. It would imply collaborating with regional payment providers to issue cards, so that merchants are able to accept payments in stablecoins, and work around local regulations. It is also the ability to adjust the user interface to the local languages and cultural standards.

Plasma has indicated that it will expand Plasma One to these areas and it hopes to have a goal of over 100,000 people actively using it on a daily basis before the end of the year. The idea is straightforward yet bold: offer free transfers and high returns and cashback to a user to make them change their mind about the remittance system and savings accounts of the past. This would establish a new trend of the stablecoin neobanks and demonstrate that crypto rails can target the unbanked and underbanked.
The indigenous Bitcoin bridge: pBTC

The roll of a pBTC, a native Bitcoin bridge is one of the largest technical projects Plasma has in its roadmap. A large number of Bitcoin owners would like to spend their resources in DeFi or payment situations but do not do so because bridging can involve third-party custodians or complicated wrapping. Plasma, through pBTC, is supposed to provide a 1: 1 custodial representation of Bitcoin on Plasma. Users post BTC, get pBTC and are able to either lend them, make payments or put them up as collateral on Plasma. When they would like to leave, they redeem pBTC to BTC.
This bridge has the potential to open very vast capital. By far the biggest crypto asset in terms of market capital is Bitcoin. Assuming that the percentage flowing into the ecosystem of Plasma is not too large, it may increase the liquidity to a significant degree. It also establishes a new user experience: a payment using Bitcoin in stores that accept Plasma One cards. As the paymaster of Plasma is likely to have native support of pBTC, Bitcoin transfers may have the same zero-fee system as USDT.

It is complicated to start a Bitcoin bridge. It demands strong custody, reliable redemption procedures as well as attentive risk control. Plasma claims to peg its sidechain on Bitcoin every now and then borrowing the security of Bitcoin to settle the end result. This strategy is a blend of the velocity of Plasma and the notoriety of Bitcoin. Should it succeed, pBTC may turn Plasma into a Bitcoin capital-seeking yield and utility hub.

Meeting the 2026 risks head-on

Rapid growth brings risks. The biggest problem facing Plasma is the unlocking of the token in July 2026. Approximately 3.5 billion of XPL tokens will be made transferable upon expiration of the one-year lockup of the 2025 public offering. Selling pressure can be caused by large unlocks. Plasma will counter this by introducing staking around the same period. The token holders will also be motivated to delegate their XPL to the validators where they will receive rewards and contribute to the safety of the network. Staking mechanism is also based on an EIP-1559-style burn, where fees are destroyed, which puts deflationary pressure on XPL. It is hoped by the company that these incentives will persuade holders to stake and not sell.
The other risk is that of user engagement. The high TVL and deposit figures of plasma indicate that the institutions and DeFi users like plasma, yet the aggregate number of transactions daily is not as high as it should be to qualify as a payments network. Plasma is being used by many users to make simple transfers and do yield farming but not their day-to-day payments. Plasma has an intention of rolling out Plasma One in new geographical areas, introduce new features like paying utility bills and recharge of mobile phones, and implement pBTC to transform that. Assuming that the network has the capacity to handle daily purchases and remittances at scale, the number of transactions may increase and result in new business participants.
There is also increasing competition. The other chains and payment networks that specialize in stablecoins are competing with the same audience. Plasma is placing its twofold edge of deep DeFi liquidity and a consumer-focused neobank to keep up with the times. The merging of both worlds poses a barrier which cannot be easily duplicated by general-purpose chains and pure payment apps. It also provides Plasma with the opportunity to cross-sell services, i.e. convert remittance clients into DeFi users and reverse.
Long-term vision: Value rather than hype.
The philosophy of plasma is also surprisingly conservative as a crypto project. The team discusses the long-term value, the development of the controlled infrastructure, and the integration with the conventional financial system freely. This is unlike most of the projects, which pursue speculative cycles. Focus on the real product, such as Plasma One, adherence to MiCA, and collaboration with well-established paying companies illustrates the intention to create a point of transition between digital value and everyday life. This focus would be a distinguishing feature of Plasma in a market that is full of promises.
2026 will be a decisive year. Whether Plasma will be able to expand to new markets, to roll out the Bitcoin bridge without troubles, and to navigate the token unlock without significant price shocks, will be the determinants of success. Should it be able to do so, Plasma could potentially not only establish itself as a fundamental, stablecoin rail, but it would also be able to show that the next phase of crypto adoption could be based on regulated, user-friendly services, as opposed to hype. You are either a developer, investor or consumer, Plasma provides the view of how digital money might work, not speculation, when built to work with people
#plasma $XPL @Plasma

Vanar Chain was founded as an online experience, Virtua, which is all about digital collectibles and metaverse fun. In 2024 the group resolved to switch and change their name to Vanar Chain, an open Layer-1 network over Ethereum but modified to achieve some objectives. It was not only faster transactions, but to create a chain which would have been able to comprehend what it was talking about in its data. The dev team, who are located in Dubai, London and Lahore, added on a hybrid consensus mechanism and a fixed-fee economic system in the effort to reduce costs and make things foreseeable. In less than 18 months, the network processed nearly 12 million transactions and added over 1.5 million distinct addresses and connected with over a hundred ecosystem participants. The transition to an enterprise-level base replacing a consumer-focused NFT platform illustrates the evolution of Vanar into a so-called chain that thinks as by the builders.

Neutron Seeds: The Chain with a Memory

The common blockchains merely store cryptographic hashes of files. The real contents are stored elsewhere, in IPFS, cloud storage, whatever, it is the ownership illusion of Vanar that his crew call it. Should that off-chain storage become unavailable, the record stored in the on-chain becomes useless. Vanar corrects that big files are squashed into tiny AI-readable tokens by Neutron Seeds, a technology. The legal agreement with all its content (50 pages) or even a 4K video can be reduced to a seed just a few dozen characters across using neural nets and semantic embeddings. The said seeds may be left to survive on the chain or off-chain based on the level of speed or verifiability you desire. Off-chain ensures performance is fast, and optional on-chain anchoring provides immutable metadata, ownership, and encrypted hash. The owner is the only one who can crack the seed, and so, there is safety of the personal stuff. Such a hybrid combination provides speed and trust, resolves the broken-link problem, and develops an organized memory layer of apps.
The seeds have AI embeddings, which render them context-aware. Devs and users are able to search seeds with content, date or file type. A seed may represent entire docs, paragraphs, pictures or related pieces of information. Practically, an AI agent can be able to look at a compressed seed and retrieve what is inside. Instead of a hash indicating, here is a doc, seeds are living memory which maintain meaning alive. That type of persistent memory is important in a world where the autonomous systems are the ones making calls.
Kayon: The Chain Reasoning Engine.
Memory is not everything but the chain must also think about the data. The reasoning layer is the Kayon AI by Vanar. It is able to read Neutron Seeds, extract the contents within them and have smart contracts query and process that data as it happens. A loan example An AI agent may bootstrap a loan, and Kayon would read the compressed credit history of the borrower on-chain, do compliance verification and calculate a risk-adjusted rate, all on-chain, no oracles. Kayon connects to already known tools to integrate random business data into a personal, encrypted knowledge base, such as Gmail and Google Drive. The users have the option to log in with Google, Web3 wallet, or regular creds and choose what data sources to index. Future integrations such as Slack, Notion, Salesforce and others will transform Kayon into an omniscient gateway that will be able to respond to questions such as, What did we speak about with the Johnson account last quarter?
With the memory of Neutron and the thought process of Kayon, Vanar becomes something other than a mere ledger, but a database which actually thinks.

The network is designed as an agent-based as a task, but only a one-off human move. Smart contracts are able to process queries using natural-language and execute compliance checks in real-time. That prepares Vanar as the foundation of PayFi (payment finance) and real-life asset tokenization, in which regulation must occur on a self-directed basis. The system is able to scan documents, confirm legal requirements and initiate settlements without human intervention.

A Progressive Consensus: Proof of Authority Governed by Reputation

To have all this intelligence working, the network must be very stable. Vanar begins with the Proof of Authority (PoA) consensus game followed with layers in Proof of Reputation (PoR) and Delegated Proof of Stake (DPoS). Initially the Vanar Foundation operates validator nodes to ensure that the process is fast and secure. In the long run, outsiders may become boarders as authenticators depending on their reputation in Web2 and Web3 networks. Established companies with a good track record may apply and the foundation will then ensure that they have a good track record before they make the decision to hire them. When they are in, the broader community will be able to delegate VANRY tokens to said nodes, strengthening the network and receiving rewards. The resulting satisfactory decentralization maintained through this ladder of trust and also remaining stable, this plays a role in ensuring that as more players are trusted, the network becomes open to them rather than throwing a switch to an extreme of permissionless blockchain.

This is supported by Vanar economic playbook. Their transaction fees are fixed at roughly half a cent and they have FIFO ordering to ensure that users do not get to fight the gas auctions. Blocks fire on an average of every three seconds and the native token VANRY is rolled out in the span of twenty years or so. Majority of the new token proceed to rewards to validators with smaller portions to devs and the community. There are no tokens to the founding team hence the incentives align with the individuals using it. This per-use and flat cost scheme provides small applications and large corporations with a predictable thing.

Natural-Language Wallets and Personal Agents.

The brains of the chain are seen in end-user equipment as well. Introduced in late 2025, MyNeutron allows users to add the documents and context of any type of AI tool in order to create personal AI agents. These agents are similar to digital assistants: they can trade, organize in-game equipment, coordinate micro-payments and provide advice based on the history of the owner across apps. Since the memory layer is universal, one can have a chat with one assistant and another can chat. That is a leap up the ladder to stateless chatbots and it demonstrates that Vanar stack is sticky context-neutral.

Another project that is also experimenting with Pilot, a natural-language wallet interface, which allows users to create, store and transfer assets through simple commands. Rather than handwriting your signature to sign something, you can say to Pilot something like send five VANRY to my friend or mint an NFT of this photo and it does the nitty-gritty. The combination of fixed fees, three seconds finality and context intelligent agents makes the micro-payments a reality. You neither have to pay on the spikes nor go laggy when paying, like the old traditional chains do when you buy electricity, streaming or in-game rewards on the fly.

Sustainably and interoperatively designed.

Due to the connection with Google Cloud, Vanar operates its infrastructure on green power. BCW Group owns and operates validator nodes powered by renewable energy to process billions of fiat-to-crypto swaps. It also uses an AI stack boosted with CUDA by NVIDIA to perform heavy math calculations. These options are an indication of dedication to green and enterprise-level reliability. And, as it is EVM compatible, Ethereum contracts and tools simply work on Vanar out of the box, without rewrites, and allow developers to immediately jump in with their applications and start enjoying the benefits of fixed costs, persistent memory and AI intelligence.

The Oath and The Question to Come.

Vanar Chain is looking to a time when the autonomous agents will be significant players in the economy. Making the chain logical and thoughtful, and taking a gradual consensus that favors speed over trust, Vanar opens the success of smart finance and applications to practice. The vision will work in case AI agents launch off in reality.
As long as the world remains button-heavy and clicky, Vanar could seem to be over-engineered in terms of fancy architecture. However, when autonomous systems begin dealing with assets, trading and executing contracts, a chain of recollection and reason is necessary. That is what Vanar is developing, and the fact that the service is transitioning to an AI-native base indicates how rapidly the blockchain industry can move.

#Vanar @Vanarchain
$VANRY

Introduction

The former article described the manner in which Dusk Network isolates settlement, execution, and privacy to establish a powerful foundation of compliant finance. It was dedicated to the internal mechanism of the system: payments, smart contracts, staking, privacy models, and cryptography. But Dusk is not all about technology. It is also at what the application of this technology can be applied to the real world, particularly in the regulated assets.

Dusk has since, since the main network was launched in January 2025, put a lot of focus on taking real financial products on-chain. These are securities, money-market funds, and other real world assets. To accomplish this, Dusk has been working on licenses, collaborations with regulated exchanges, integration of stablecoins, and even its trading platform. That is the side of the story that this paper examines. It describes the way of how Dusk will operate according to financial regulations rather than evade them, and why it differs to most blockchains.

Why Tokenization Can Use More Than a Basic Blockchain.

The concept of tokenization is commonly explained in the simplest way possible: take something real and make it a token. But controlled assets are not that easy. A fund unit, share or bond is associated with regulations. It is not something everybody can own. Transfers may be restricted. Payment of dividends should be done properly. There has to be a clear-cut voting. Records have to be checked by regulators.

The majority of blockchains are not designed to do so. They are able to move tokens, but not to cope with actual financial rules. Dusk was intended to fill this gap. It provides privacy as well as control. This does not imply that sensitive information cannot be kept confidential, but regulations can be implemented.

Being a Central Securities Depository, or CSD, is one of the objectives of Dusk. The traditional definition of CSD is the system that maintains records of ownership of which securities to whom and validity of transfers. Dusk is interested in doing this on a publicly accessible blockchain. In this regard, it is seeking a special license to enable blockchain systems to trade and settle regulated assets. Should this be successful this would enable the issuance, trading and settlement of securities directly on-chain without legal loss of validity.

The DLT-TSS Certificate and Dusk as an Intermediary Securities Depository.

One of the major components of the plan that Dusk has is the DLT-TSS license. This license is a result of a European pilot initiative, which can enable blockchain systems to run actual financial markets under regulation. Dusk would be licensed under this and be considered as securities trading and settlement infrastructure.

In the traditional markets, the settlement is tedious and cumbersome. Custody, clearing and record keeping are undertaken by different companies. Dusk intends to have one system of these steps. Trades are completed quicker, at lower costs and can be audited more easily by doing settlement on-chain.

The peculiarity of Dusk is that it will seek to do it on a publicly available blockchain. A wide range of tokenization systems are privately or permissioned systems run by a small number of parties. Dusk rather permits open participation of the validators with strict rules applied only to regulated assets. The investors are required to be approved, identities verified, and transfers should be lawful. This establishes an openness and control combination that can be tolerated by the regulators.

NPEX - Taking Licensed Markets On-Chain.

NPEX is one of the most significant partners of Dusk, a trading venue that is licensed in the Netherlands. There is an already established regulated securities market in NPEX. NPEX utilizes Dusk as the blockchain layer in issuing and settling these assets through the partnership.
The securities can be listed using a decentralized application that is linked to Dusk. These assets are traded by investors, and all the operations are documented in the blockchain. Since NPEX already has the licenses required then this arrangement puts actual market activity on Dusk.
The most important aspect is that the system is designed in terms of compliance. The smart contracts include identity checks, transfers and recovery options. This is unlike in many DeFi platforms which add compliance later or are dependent on external custodians. In the case of Dusk and NPEX, technology and legal structure are developed with each other.
Stablecoin Treasury Management and 21X.
Dusk is also collaborating with 21X which is another regulated trading account run under the European pilot regime. The collaboration revolves around the management of the reserves by the stablecoins. Money-market funds or other such assets are commonly used as the backing of stablecoins. These reserves involve big and delicate trades to manage the reserves.
The privacy conditions of Dusk enable such trades to occur without positioning them at risk of being exposed to other people. Meanwhile, regulators can still get to see what they have to see. This also renders Dusk not only beneficial in securities trading but also in the stablecoin operations.
This collaboration demonstrates the emergence of an integration of the traditional finance and blockchain finance. It is possible to trade and settle on-chain but applying the same rules used in conventional markets. These controlled activities are being implemented as the execution layer using dusk smart-contract environment.
Cordial Systems -A Blueprint of a blockchain Stock Exchange.
The other significant partnership is the one between Cordial Systems, NPEX, and Dusk to develop a stock exchange on blockchain. Cordial offers the facilities that enable the institutions to maintain their own keys safely without handing them over to third parties.
This arrangement enables issuers and investors to have assets on hand at the same time and comply with standards of security and compliance. Dusk gives the layer of settlement and privacy and NPEX offers the market license.
Cost reduction is one of the most interesting outcomes of this cooperation. Conventional trades are very costly in terms of settlement and custody systems. These processes are made easier with the help of Dusk. The partners claimed that integrating Dusk did not need much work, and real assets have already been introduced through this arrangement. This demonstrates that Dusk is not a mere theory but one which is being put into practice in real environments.
STOX -Dusk In-House Trading Platform.
Besides the partnerships, Dusk is developing its own trading platform which is named STOX. The STOX concept entails the provision of regulated assets to users in a controlled setting. It is based on the smart contract layer of Dusk and it is also meant to collaborate with other partners, such as NPEX, and not to displace them.
STOX will be launched on a small scale with a limited number of assets and be expanded in time. It will be able to offer new financial products by being directly integrated with the core functions of Dusk. Users could either receive staking rewards when they hold regulated assets or attract tokenized funds as security.
STOX is also used as a testing platform. This is where new financial concepts can initially be launched, refined and subsequently implemented on larger regulated markets. This strategy will provide Dusk with flexibility without breaking the law.
MiCA and the EU Regulatory Environment.The MiCA regulation of Europe provides a clear framework of crypto assets, including the categories of token and establish the issuance and trading rules. Dusk has adjusted its system to this framework.

The system of payment is in accordance with the rules of digital money tokens. Application regulated assets with identity verifications and transfers are controlled by the use of tokenization tools. The bottom layer still supports the normal utility tokens.

By matching its technology with the existing legislation, the issuers and investors become less uncertain. Instead of doubting about the rules possibly becoming obsolete, they are able to design with the understanding that the rules have already been achieved. This is one of the strong points of Dusk.

Compliance Characteristics, Identity, Forced Transfers and Governance.
Dusk supports regulated assets by including important features.

First, the forced transfers allow authorized operators to transfer assets where necessary, e.g. where a wallet access has been lost or a court has directed otherwise. This will enhance central control but it is necessary to comply.

Second, identity checks ensure that only authenticated investors possess certain assets. Before investors are accepted into the system, they have to undergo verification so that they can trade privately with a vetted group and at the same time, meet regulation.

Third, governance characteristics allow token owners to vote on such aspects as dividends or change of contract. Voting occurs on-chain, has set timelines and ensures privacy.

The characteristics make Dusk a platform that can be used to manage real financial instruments as opposed to speculative tokens.

Security and Tokenomics A 36 Year Emission Schedule.
The token model of Dusk is long-term in nature. The total supply is limited and half emitted at the beginning and the rest of the supply is issued over a long period through staking rewards. The rate of reward cuts after every several years.

The gradual and predictable schedule enhances the long term security. Validators do not just get rewards on a short-term basis and not just on a long-term basis. Violent offenders can be temporarily displaced without losing their stake.

This method is compatible with the objective of Dusk to subsidize the long-term assets such as bonds or funds.

Chainlink and Cross-Chain Interoperability.

Dusk is connected to other blockchains through Chainlink, through which assets can be moved across networks including Ethereum and Solana. Chainlink also provides quality price and market information.

Since the financial markets are interconnected, the Dusk-issued assets might be required to interact with other chains. This is safeguarded and transparently done with Cross-chain tools.

An example would be a controlled bond on Dusk being used to collateralize a different platform, or a stablecoin reserve can change chains without losing compliance.

Compliant On-Chain Finance The Future.
Dusk is based on a simple fact that a regulated finance can flourish on a publicly-blockchain when it is properly designed. Privacy, rules and governance should be inherent rather than an after-thought.
Dusk will create an authentic on-chain financial market through licensing, partnerships, and a wise design. The success would facilitate the provision of bonds, shares, funds, and stablecoins.
The most challenging one is adoption. Issuers should have the confidence in the platform, investors should feel safe and regulators should embrace such a model. In a harmonious situation, Dusk might take centre stage in the next generation finance.
Dusk is not just any other blockchain, it is an experiment in combining regulation and public technology. The success or failure of it turning out to be a standard or a case study is determined by how well it achieves this vision, using active markets.
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