mechanism

Binance contracts will adopt the latest price protection (LPP) mechanism for the TACUSDT U-based perpetual contract on August 27, 2026, at 19:00, to address price deviations of TAC (TAC Protocol) across multiple exchanges.The LPP mechanism will be gradually implemented through a marked price smoothing processing model, with the funding rate limits adjusted to +0.005% / -0.005%.

NVIDIA's Chief Financial Officer stated that the company is introducing a revenue-sharing mechanism, which includes a "no questions asked" commitment and a minimum revenue guarantee.

According to Digital Asset, Hyperliquid has launched the AQAv2 (Aligned Quote Asset v2) mechanism, which uses a portion of the revenue generated from USDC reserves on the platform to accumulate funds, ultimately transferring them to an assistance fund for repurchasing and destroying HYPE in the secondary market to reduce its circulating supply.Under this mechanism, Circle is responsible for the technical deployment of USDC, while Coinbase manages the reserves; the stablecoin issuer is expected to share about 90% of the relevant reserve revenue after deducting operational costs with the protocol. Revenue is accumulated over a 30-day cycle, with the first funds expected to be transferred on October 3. The market estimates that, based on the current USDC stock and yield, the annualized revenue could reach between $135 million and $160 million, but the actual repurchase scale still depends on the platform's USDC supply and reserve yield.

The China Payment and Clearing Association issued the "Self-Regulatory Convention for Intelligent Agent Payment Applications," which regulates the behavior of member institutions in initiating and executing payment instructions using large models and other artificial intelligence "intelligent agents" in payment scenarios. The convention requires banks, non-bank payment institutions, clearing institutions, and others engaged in intelligent agent payment applications to adhere to the principle of "who provides the payment service is responsible," and to implement cybersecurity, data security, and privacy protection.The convention proposes the establishment of "Know Your Agent (KYA)," a hierarchical management system for intelligent agents, and a full-link identity transmission mechanism, strengthening model robustness and traceability, anti-money laundering and anti-fraud controls, and setting stricter authorization and risk control measures for vulnerable groups such as the elderly and minors. The convention will be implemented from the date of its release.

According to the Wall Street Journal, Solana Company (HSDT) announced its voting positions on the first three Solana governance proposals: supporting SGP-0001 "Solana Constitution," opposing SGP-0002 to accelerate inflation reduction, and SGP-0003 to change transaction fees from fixed to floating.The company stated that supporting the new governance system is due to its allowance for stakers to participate directly in voting and retain the right to overturn votes from delegated operators, which is beneficial for institutional participation in network governance. Regarding inflation and fee adjustments, the company expressed that it is not opposed to the direction but believes that the current entry of institutions is still at a critical stage, and changes in core economic parameters may affect the stability and predictability of the rules.

Websea officially announced the launch of the Proof of Reserves (PoR) mechanism on August 18, using a Merkle tree scheme to publicly disclose platform reserve data, while also opening up open-source verification tools. Users can view verification dates, covered currencies, user asset balances, on-chain wallet balances, wallet address files, and historical reports, as well as download personal verification data to locally verify whether their assets are fully accounted for in the platform reserves.According to the introduction, the reserve ratio is the ratio of the platform's on-chain assets to the total user assets, and a reserve ratio of no less than 100% means that the assets held on-chain by the platform are not less than the total amount of user assets. Websea stated that it will continue to update reserve data periodically, promoting asset transparency and the construction of a user self-verification mechanism.

Synthetix tweeted that the previously passed SIP-423 proposal has achieved its main goals, including the deprecation of the native stablecoin sUSD, the restructuring of the Debt Jubilee, and the reform of the SNX staking mechanism. The new SNX will be minted at a 4:1 ratio with sUSD, with the conversion including a 1-year lock-up period and a 1-year unlocking period. The original supply was 344,939,867.56 SNX, with an additional minting of 236,464,356 SNX, bringing the new total supply to 581,404,223.56 SNX.Synthetix stated that SIP-423 is a "hard reset" that allows the protocol to break free from internal dependencies and focus on making Synthetix a perpetual contract trading venue on the Ethereum mainnet.

The AQAv2 stablecoin model protocol of Hyperliquid has previously received support from 19 out of 26 validators, and the relevant mechanism is expected to officially start accruing yields on August 26. Meanwhile, Circle has transferred approximately $4.4 billion USDC to Coinbase via the AQAv2 mechanism on HyperEVM, setting a record for the largest single USDC transfer on HyperEVM.If everything proceeds as planned, the yields generated by AQAv2 will begin accruing on August 26, with the first payment expected to enter the Assistance Fund on October 3. AQAv2 (Aligned Quote Asset v2) is a stablecoin mechanism announced by Hyperliquid in May this year, allowing stablecoins, including USDC, which are not exclusively issued by Hyperliquid, to qualify as "Aligned." According to public information, most of the stablecoin yields from AQAv2 will be returned to the Hyperliquid ecosystem, with 90% of the yields allocated to the relevant mechanism, and subsequently, 100% used for the buyback and destruction of HYPE tokens.Coinbase has been designated as the fund deployment party, while Circle is responsible for technical deployment, and both parties will also stake HYPE to participate in the mechanism. The mechanism previously required stablecoins to be exclusive assets of Hyperliquid, but AQAv2 has removed this restriction and will focus on the HIP-4 standardized market and the perpetual contract market operated by validators. According to relevant public disclosures, AQAv2 is expected to generate up to approximately $200 million in revenue and further enhance token value capture through the HYPE buyback and destruction mechanism.

According to CCTV Finance, a very rare scene this week is that Jensen Huang teamed up with six Wall Street asset management giants to endorse "making AI computing power an independent asset class." Analysts believe this is Jensen Huang practicing the concept of token economics he proposed, and it also marks that the AI boom is extending from a technological competition to a capital competition.However, the latest plan has also raised investors' concerns about "revolving financing" and debt risks. In response to the doubts, Jensen Huang once again personally stepped in to calm the market. He stated that Nvidia might "provide up to 25% residual value support mechanism for individual investment projects" and will carefully evaluate each project. After that, market sentiment was slightly alleviated.

Lido tweeted that the NEST automated LDO buyback mechanism has been launched on the mainnet. NEST is a rules-based LDO buyback mechanism, where 50% of the surplus will automatically buy LDO through CoW Swap when the DAO's staking income exceeds the baseline of 40 million USD.If the income in a certain period does not meet the baseline, the corresponding gap will be accounted for in subsequent calculations and must be made up by new surplus before purchases can resume. The daily purchase limit is 50,000 USD, and the annual limit is 10 million USD, with all purchased LDO belonging to the DAO.

Grayscale Research Director Zach Pandl stated that the two major blockchain networks, Ethereum (ETH) and Solana (SOL), are considering adjusting their token economic models to enhance asset scarcity by reducing future token supply growth through lowering annual inflation rates. As important native assets supporting stablecoins and tokenized asset ecosystems, the prices of ETH and SOL are primarily determined by supply and demand dynamics. If the relevant code upgrade proposals are approved, under unchanged conditions, lower supply growth may provide support for token prices.According to Grayscale's analysis, if the relevant adjustments are implemented, the supply inflation rates of BTC, ETH, and SOL will continue to decline over the next five years. By the end of 2031, the annual inflation rates for Bitcoin and Ethereum are expected to be around 0.4%, and Solana around 1.1%, which is lower than gold's annual supply growth rate of about 1.8% and the U.S. CPI inflation level of about 3.3%. Currently, these token economic adjustments are still in the community discussion phase. Among them, the Solana-related proposal has gained broader support and has a higher likelihood of implementation; the Ethereum proposal still requires further discussion.If the adjustments are implemented, staking users may face reduced token rewards, as part of the staking income comes from the issuance of new tokens. However, due to the decline in the growth rate of circulating supply, the scarcity value of the tokens may increase, potentially providing price support. For ETH and SOL holders who do not participate in staking, they may benefit directly; the final returns for stakers will depend on the balance between the decrease in rewards and the increase in prices. Zach Pandl concluded that ETH and SOL are becoming important digital commodities supporting stablecoins and the tokenization of real assets, and the economic model adjustments aimed at reducing inflation may further strengthen their scarcity attributes.

The Ethereum staking protocol Lido DAO officially interprets the NEST (Network Economic Support Tokenomics) mechanism, which binds the protocol's revenue to the value of LDO tokens through an on-chain automated method, achieving continuous LDO buybacks. The aim is to allow LDO holders to more directly share in the protocol's growth profits. This mechanism is supported by the surplus funds of the DAO treasury. When Lido's staking business revenue exceeds the set benchmark, a portion of the excess revenue will be automatically exchanged for LDO through CoW Swap.According to the initial parameters set by Lido DAO, the NEST revenue benchmark is an annualized $40 million (approximately $109,000 daily), with 50% of the excess allocated for LDO buybacks, a daily buyback limit of $50,000, and a cumulative limit of $10 million over 365 days. Buybacks are executed daily using a permissionless on-chain process.In the initial phase of NEST, a "Treasury-only mode" will be adopted, where purchased LDO will go directly into the DAO treasury. In the future, when market conditions are favorable, the DAO can switch to LP mode through on-chain voting, using half of the funds to purchase LDO and converting the other half into wstETH to provide Curve liquidity.

Citigroup CEO Jane Fraser stated that although she remains concerned about how the CLARITY Act handles the rewards mechanism for stablecoins, overall, she hopes the bill will pass and believes it will benefit the financial system. Fraser indicated that Citigroup is still pushing for improvements to the bill.Fraser pointed out that if stablecoin platforms can offer rewards for user deposits, it may lead to a loss of deposits in traditional banks, thereby weakening banks' ability to provide loans and credit services in certain regions of the United States. Currently, the bill stipulates that platforms cannot offer rewards solely for users holding stablecoins, but they can provide rewards for trading and payment activities. This issue remains at the core of the controversy between the banking industry and the cryptocurrency sector as the bill progresses.

Uniswap founder Hayden posted on the X platform stating that they had not anticipated that the tokens created during the pools.trade testing period would be discovered. They have waived all creator fees generated during the Uniswap employee testing period and transferred them to the automatic buyback and burn contract.They are currently considering making it a feature available for other deployers to use.

According to official news, Aster announced that AOS-2 is officially in effect. Previously, AOS-1 opened up the listing of spot tokens to projects that meet public standards, and AOS-2 extends the same principle to the perpetual market, which traditionally relies on private negotiations for listings.According to AOS-2, eligible applicants must stake 1,000,000 ASTER, lock it for four years without an early exit option, and then apply to enter the on-chain validator voting phase. If the vote passes, the Aster risk control team will complete market allocation, and the perpetual contract will go live on T+1; if it does not pass, the full staked amount will be returned.The leverage and other risk parameters for each market are set by the Aster risk control system, with rules made public and decisions recorded on-chain. AOS-3 will be launched subsequently.

Chairman Paul S. Atkins of the U.S. Securities and Exchange Commission (SEC) wrote to Robert Walley, Chairman of the Consolidated Audit Trail (CAT) Operating Committee, indicating that the SEC plans to undertake a comprehensive reform of the CAT system, including adjustments to its governance structure, funding sources, and operational model.Atkins stated that during his tenure, the SEC has significantly reduced the annual operating costs of CAT by issuing exemptions and approving amendments to the CAT NMS plan, and has eliminated the requirement to report personally identifiable information (PII) to the CAT system.These reforms have lowered system costs and the scope of data collection, but CAT still faces fundamental issues regarding costs, governance, and funding mechanisms. To address these issues, the SEC released a concept request for comments on April 16, 2026, to conduct a comprehensive review of CAT and other audit trail systems and data sources used in the regulation of U.S. securities markets.The SEC indicated that it has received hundreds of feedback comments, with one core consensus being that investors and market participants want the SEC to take more responsibility for the management and funding arrangements of CAT.Atkins stated that he has asked SEC staff to propose deep reforms for CAT, including: 1. Exploring new funding sources for CAT, including the use of congressional appropriations and transaction fees under Section 31 of the Securities Exchange Act; 2. Drafting rule proposals that, if approved, would repeal Rule 613 and require exchanges, FINRA, and broker-dealers to continue using the existing CAT infrastructure and reporting standards to submit CAT data directly to the SEC or its designated agency; 3. Assessing the internal resource needs of the SEC to prepare for the SEC's future assumption of governance responsibilities for CAT.The SEC expects that this reform will involve multiple stages and will need to be advanced simultaneously, with the overall transition potentially lasting until the end of 2027.

According to the disclosure from the Common platform, Sushi DAO has released an RFC proposal to comprehensively restructure the SUSHI token economic model. The proposal suggests replacing the current xSUSHI fee distribution mechanism with a more balanced framework, specifically including: reducing the xSUSHI buyback scale to a sustainable level, establishing a protocol reserve (SUSHI Reserve) through weekly regular purchases of SUSHI, and allocating the remaining protocol revenue to Sushi Ops for operations and growth.In addition, the proposal also plans to migrate part of the protocol liquidity deployment to the Robinhood Chain. Currently, the proposal is in the RFC (Request for Comments) stage, pending community discussion and governance voting.

F2Pool co-founder Wang Chun stated that they currently do not support the BIP-54 proposal, but if the proposal is strictly advanced according to BIP-9 (Bitcoin Improvement Proposal activation mechanism) and reaches the required absolute majority signal threshold, their team will update the mining pool nodes. Chun indicated that they will not participate in the signal voting for BIP-54 until the formal activation conditions are met.BIP-54 is one of the protocol upgrade proposals recently discussed in the Bitcoin community, involving adjustments to Bitcoin's consensus rules. Wang Chun's statement reflects that some miners remain cautious about the proposal and prefer to promote the upgrade through the standardized BIP-9 process and community consensus.

Uniswap founder Hayden posted on the X platform stating that the technical design of automatic compounding liquidity is his personal contribution to pools.trade. The way it works is: liquidity positions are deposited into a smart contract, with the rule that anyone can withdraw all unclaimed fees from that position, provided they increase the size of that liquidity position by 0.2%. Therefore, the fees will grow over time, and when the value of the fees exceeds 0.2% of the liquidity, seekers will naturally be incentivized to add 0.2% liquidity to the pool and claim the fees. This mechanism is based on the Uniswap token jar and can also be used for automatic compounding of regular Uniswap LP positions, so this feature will be added to the roadmap.