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first_img The XRP Ledger lending code fix is close to taking effect, but the lending amendment still lacks 10 votes

The XRP Ledger vulnerability fix package named fixCleanup3_4_0 is expected to officially take effect around 09:34 UTC on October 23. This fix package has received votes from 29 validators, surpassing the threshold of over 80% approval among the network's default 35 validators, and must be maintained continuously for two weeks. The countdown has been ongoing for nine days. Since there is no margin in the vote count, if any validator withdraws support, the countdown will restart.This fix package partially addresses the unsecured lending system that Ripple has been promoting to banks and payment companies since June, but this system has not yet been activated. Currently, the lending amendment has only 19 votes, and the vault amendment for holding funds has 21 votes, neither of which has started the countdown. Therefore, even if both reach 29 votes today, the lending function will not be available until early November at the earliest.As designed, lenders will deposit XRP or other tokens into the vault, and loan brokers will then lend out the funds for a fixed term. The ledger is responsible for recording the loans and tracking repayments, while brokers assess the borrower's qualifications off-chain. Since borrowers do not need to provide collateral, the broker's judgment becomes the only guarantee for lenders against default losses. Ripple has promoted this scheme to payment companies that need liquidity during cross-border settlement. Additionally, the fix package also closes a vulnerability that allowed accounts authorized to destroy tokens to create new tokens under specific conditions and adjusts the rounding of vault amounts as well as the rules for determining loan overdue and default.

first_img Report: The cost of remittances using stablecoins is 84% lower than traditional transfers, with settlement taking just a few minutes

The third-quarter report released by the stablecoin payment network Borderless.xyz shows that the median cost of sending a $200 remittance through stablecoin funding channels is 1%, or $2; whereas, according to World Bank data, the median cost of traditional remittance channels is 6.36%, or $12.72. In comparison, the cost of stablecoin remittances is approximately 84% lower. This comparison uses Borderless's pricing for the third quarter of 2026 and World Bank data for the same period in 2025.In emerging markets, the cost advantage is also evident. The cost of stablecoin remittances in Sub-Saharan Africa is 2.9%, while traditional transfers are 8.46%; in Latin America, the figures are 1.25% and 5.64%, respectively. In terms of corporate payments, a $10,000 stablecoin transfer to the Eurozone can cost as low as $26 when choosing the lowest-cost service provider, with the median service provider costing $52; traditional international bank wire transfers for the same amount require $135 to $150, including transfer fees and a 1% foreign exchange spread.Regarding settlement speed, the report states that stablecoin payments can reach the recipient's local bank account within minutes. The median settlement time for Brazil's PIX network in the third quarter is 2 minutes, Mexico's SPEI is 3 minutes, and Colombia's PSE is 2 minutes; traditional SWIFT transfers typically settle the next day, with the slowest 10% taking 3 business days. The success rate for receiving funds varies significantly: Mexico's SPEI is 98.6%, Brazil's PIX is 97.8%, Colombia's PSE is 79%, and Costa Rica's SINPE is only 73%. Standard Chartered Bank recently pointed out that although the total market capitalization of stablecoins has grown relatively slowly this year, transaction volumes are still rising, and it is expected that this market will reach $2 trillion by 2030, two years later than previously predicted.

first_img Lido will directly expand ETH staking to four Layer 2s

Lido announced the integration of direct ETH staking functionality for Arbitrum, Base, Linea, and Optimism Layer 2 networks into its official staking interface, which was announced on October 15. This process is supported by Chainlink's cross-chain interoperability protocol CCIP, allowing users to directly obtain wstETH on the originating network without manually transferring ETH across chains to Ethereum and back.Lido stated that users' ETH will be exchanged for wstETH through dedicated liquidity pools on the same L2, with the Chainlink price feed reflecting the exchange rate of the Lido protocol rather than the exchange market price. The underlying staking still occurs on the Ethereum mainnet: the ETH deposited by users on L2 will automatically be transferred to Ethereum and staked through Lido, after which wstETH will be sent back to replenish the local liquidity pool. Users receive the wrapped version of stETH, wstETH, which maintains a fixed balance while its value reflects staking rewards.This functionality integrates existing cross-chain infrastructure into Lido's own interface. Lido previously introduced relevant channels for Arbitrum, Base, and Optimism in October 2024, with third-party frontends including XSwap, OpenOcean, and Interport, while Linea followed up in October 2025. In terms of fees, users will still need to pay L2 transaction gas, and cross-chain costs come from the separately funded contract balance rather than staker deposits;

first_img The developer who replicated Photoshop is taking action again, releasing an open-source clone of the Microsoft Office suite

Brandon Thomas, the developer who previously used AI to reconstruct Adobe Creative Cloud for free, has now turned his attention to Microsoft Office. He has released open-source clone applications WordCraft, GridCraft, and DeckCraft on GitHub, corresponding to Word, Excel, and PowerPoint, respectively. The three applications are written in Rust, with a single codebase that can run natively on Windows, macOS, Linux, and BSD, and can also run in a browser. Thomas refers to this as a clean room reconstruction, meaning it is based on publicly available file format specifications and observations of the original software's behavior, without ever copying Microsoft's code, similar to the legal path taken by Compaq in the 1980s to clone the IBM PC BIOS.WordCraft can read and write .docx format, covering 88% of the features in the Word ribbon. It currently supports revision tracking, footnotes, citations, and mail merge; however, taking into account document fidelity and stability, the team estimates its completeness as a Word alternative for actual work is only about 60%, and it is still labeled as an alpha early testing version. GridCraft has supported 513 out of 523 Excel worksheet functions and 89% of ribbon commands, with the developer self-assessing about 50% as usable for actual work. The next step is to improve compatibility with real .xlsx files.
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