dop

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.

Grayscale's research director Zach Pandl released a report stating that despite the recent pressure on Bitcoin's price, Grayscale believes its adoption rate will continue to rise in the medium to long term for three reasons:First, the unsustainable growth of U.S. government debt is raising inflation and currency devaluation risks, which may drive various investors towards scarce assets and value storage tools; second, stablecoins and tokenization will make blockchain ubiquitous in financial services. As technology spreads, more intermediaries will have the infrastructure and regulatory conditions necessary to hold and trade Bitcoin, and Bitcoin will no longer be structurally isolated from the mainstream financial system; third, younger investors show a significantly higher preference for digital assets, and alternative investments have become a standard component of investment portfolios. Institutions, wealth management platforms, and individuals will continue to incorporate Bitcoin into diversified portfolios through tools such as exchange-traded products, a process that is already underway.Grayscale emphasizes that this bear market has not changed its expectations for the continued rise in Bitcoin's adoption rate.

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 reports from Fast Technology, Changxin Memory's 17nm DDR5 chip yield has surpassed 90%, which is only about 2 percentage points lower than Samsung's same-generation products at 92% to 93%, marking a technical indicator that has entered the global first tier. Several major PC manufacturers have completed certification for Changxin DRAM chips around mid-year and have begun to incorporate them in small batches into certain laptops.The strategies adopted by different brands show significant differences: Dell has completely banned the use of Changxin chips; HP restricts their use to the mainland China market; Acer and ASUS have incorporated them into models aimed at the mainland China and emerging markets. Currently, the impact of Changxin products on the overall market prices of the three major memory giants remains limited, mainly because Samsung, SK Hynix, and Micron are currently more inclined to supply LPDDR5, while Changxin's current strategic focus is on expanding DDR5 shipments. Executives from PC companies have stated that the three major manufacturers hold over 90% of the global DRAM market share, and large-scale adoption must be approached with high caution. Currently, the number and usage of models using Changxin chips are quite limited.

Ethereum ecosystem infrastructure provider EthSystems announced a partnership with the local Korean institution Undefined Labs. The two parties will jointly promote the application of Ethereum technology in the fields of finance and digital assets in Korea.EthSystems will provide technical support in areas such as privacy, tokenization, and financial infrastructure, while Undefined Labs will leverage its deep understanding of the Korean market and local industry resources to assist in education, seminars, technical framework design, and use case development, facilitating the entire process from early exploration to proof of concept and then to production systems. EthSystems stated that Korea is one of the important markets for the next phase of Ethereum adoption, and this collaboration marks the starting point of its expansion in Asia.

According to The Wall Street Journal, Apple is testing memory chips from the Chinese DRAM manufacturer Changxin Storage (CXMT), planning to apply them to product lines such as the iPhone and MacBook. The background of this move is the AI demand driving up global memory prices; Apple has previously lobbied the U.S. side, stating that the current pricing from Korean and American suppliers is "unsustainable." The report states that Apple is seeking approval from the White House to conduct business with Chinese chip suppliers. Currently, the U.S. allows the purchase of commercial off-the-shelf chips but restricts customized products.Changxin Storage has recently rapidly expanded its market share, with second-quarter revenue growing more than 8 times year-on-year, and its global DRAM market share rising to 7%, completing its IPO on the Science and Technology Innovation Board last month. Meanwhile, PC manufacturers such as HP and Acer have begun using Changxin Storage memory chips in some devices sold in non-U.S. markets to alleviate supply pressure. If Apple ultimately reaches a procurement agreement, it may face political resistance from Washington.

According to Jinshi reports, OpenAI has partnered with private equity firm Clearlake Capital to accelerate the adoption of artificial intelligence in the Clearlake portfolio.

Strategy tweeted support for the CLARITY Act, believing that establishing a clear and long-term stable market regulatory framework will help promote the development of the digital asset industry and encourage broader institutional adoption in the United States.

Aave founder Stani stated that the recent gradual contraction of low adoption assets and networks on Aave should not be interpreted as a judgment on any L1 or L2. This move is primarily aimed at reducing Aave's risk exposure in operational, technical, and economic aspects, thereby concentrating resources on more impactful key directions, including expanding existing high-value markets and developing securities financing business.He also emphasized that L2 remains an important component of the Ethereum user experience. For example, the stablecoin vault in the Aave application uses L2 as its accounting layer, with the goal of driving mainstream users into decentralized finance. Meanwhile, networks like Avalanche are also promoting the on-chain of real-world assets through institutional business expansion, which has been a relatively weak area for Ethereum in the past.

According to Aave founder Stani Kulechov, after completing a comprehensive review, Aave will gradually phase out 50 low adoption rate asset reserves across multiple deployment environments and orderly stop deployments on Sonic, Scroll, zkSync, Metis, Soneium, and Aptos, involving an additional 25 asset reserves.In addition, 21 expired Pendle PT assets will also be eliminated and replaced by new expiring assets. This adjustment involves approximately $98.1 million in supply assets and $15.6 million in debt. Stani stated that this move aims to reduce the economic and technical risks of the protocol based on the new Aave risk framework and technical asset listing framework, and Aave will continue to assess the risks of assets in each deployment environment.

According to Bitcoin.com, Michael Saylor, Executive Chairman of Strategy Inc. (NASDAQ: MSTR), stated that since the company established Bitcoin as its primary reserve asset in August 2020, MSTR's annualized return has reached 42%, surpassing Bitcoin itself, the "Magnificent Seven" tech stocks, and the S&P 500 index. As of today, Strategy holds 843,775 BTC, with a total purchase cost of approximately $63.69 billion, an average price of about $75,476 per coin, and currently has an unrealized loss of about 17.9% (approximately $11.4 billion) compared to the cost price.To address the increasingly complex capital structure, Strategy launched three new metrics on July 24: Net BTC Per Share, BTC Hurdle ARR (the minimum annualized return required to cover financing costs), and BTC Floor ARR (the minimum annualized return required to maintain leverage sustainability), to help investors more clearly assess the actual value of their Bitcoin holdings. In addition, the company plans to support preferred stock buybacks by selling a portion of its Bitcoin in the future.

According to Cointelegraph, the UK's Financial Conduct Authority (FCA) has released a policy research report titled "Stablecoin Sprint," gathering opinions from industry participants such as banks, payment companies, and stablecoin issuers.The report points out that stablecoins have recently shown significant advantages in the field of cross-border payments, especially providing substantial assistance to emerging markets with limited access to US dollar channels; however, in the domestic retail payment scenario in the UK, the existing payment systems are already relatively fast and inexpensive, leading to a lack of motivation for consumers to switch, and the adoption speed is expected to lag behind. The findings of the above research have been incorporated into the final regulatory rules released by the FCA on June 30, which require that stablecoins issued in the UK must be fully backed by reserve assets and redeemable at face value.

Strategy President and CEO Phong Le posted that over the past 4 years, driven by factors such as Bitcoin treasury companies, ETFs, institutional funds, and support from the United States, Bitcoin's dominance has continued to rise.CoinGecko charts show that BTC's dominance has steadily increased from about 39% at the beginning of 2023 to nearly 60% by mid-2025, and as of July 2026, it remains around 55%.Phong Le further pointed out that with the adoption of stablecoins, asset tokenization, large banks, and increased global support, the digital asset economy surrounding Bitcoin will continue to expand, and Bitcoin's dominance is expected to continue growing.

After completing a rigorous and comprehensive security review, United Stables officially announced the adoption of Chainlink as the official data and cross-chain infrastructure driving the U stablecoin.

Strategy founder Michael Saylor posted on the X platform, stating that enterprises enable people to organize around a common mission within a legal framework, achieving greater efficiency, transparency, credibility, scale, and sustainability.He believes that for Bitcoin to succeed as a global monetary network, adoption by enterprises is necessary, inevitable, and welcome.

According to Cointelegraph, ARK Invest's research director Lorenzo Valente published a rebuttal to a16z crypto's view that "traditional finance will adopt blockchain rather than DeFi," arguing that institutions will increasingly rely on DeFi infrastructure in the future.Valente stated that public chains are leading private chain projects in actual development, with the growth of tokenized assets on open networks like Ethereum as an example. He also believes that crypto-native companies like Circle and Coinbase are better positioned than traditional financial institutions to build the next generation of financial infrastructure.a16z crypto previously stated that banks and asset management institutions would not directly adopt DeFi but would choose blockchain technologies that comply with existing regulatory, governance, and operational requirements, including features like tokenization and atomic settlement, while continuing to maintain licensing and institutional control.Sentora co-founder Jesus Rodriguez also disagreed with a16z's viewpoint, suggesting that institutions might adopt the underlying infrastructure of DeFi and overlay compliance, custody, and other enterprise-level controls on top of it.

Bloomberg ETF analyst Eric Balchunas posted on the X platform that DTCC's digital conversion is taking place on HyperLedger Besu, which is DTCC's private network, as well as on the Canton public blockchain. This is part of DTCC's multi-chain strategy aimed at ensuring resilience, scalability, and selectivity.Additionally, DTCC currently holds over $114 trillion in securities, and its subsidiaries processed approximately $47 trillion in securities transactions last year.

a16z published a blog post stating that as traditional financial institutions accelerate their exploration of blockchain technology, the market generally believes that the future will see a comprehensive integration of DeFi (Decentralized Finance) and TradFi (Traditional Finance), forming a new financial model through the combination of decentralized finance and institutional distribution systems.However, the reality may not be so. The core motivation for traditional financial institutions to adopt blockchain is not to embrace decentralization, but to value its commercial benefits in reducing costs, improving settlement efficiency, expanding distribution channels, and optimizing customer relationship management.What is more likely to emerge in the future is a new type of "programmable financial infrastructure" based on underlying blockchain technology, optimized for institutional needs, rather than a simple integration of traditional finance and DeFi. Institutions are selectively absorbing certain technological capabilities from DeFi and modifying them according to their own regulatory, risk management, and operational requirements.For example, atomic settlement can reduce counterparty risk, shared ledgers can lower back-office reconciliation costs, programmable funds can automatically execute processes such as interest payments, margin management, and corporate actions, and automated market-making models are also being applied to on-chain foreign exchange and tokenized asset pricing.At the same time, the native DeFi features of open access, anonymity, and trustless execution often conflict with institutional requirements for compliance, control, and accountability. Therefore, cases such as JPMorgan's institutional blockchain project, BlackRock's and Franklin Templeton's tokenized funds, are essentially not traditional finance entering DeFi, but rather using blockchain technology to improve existing financial business processes.In the future, the blockchain industry will have two development paths: on one hand, enterprises and financial institutions will continue to promote the implementation of blockchain infrastructure that meets regulatory requirements, expanding the industry scale through applications such as stablecoins, tokenized assets, and on-chain settlements; on the other hand, open networks will continue to play the role of a source of innovation, continuously generating new financial primitives and market mechanisms, providing technical reserves for future institutional infrastructure.TradFi and DeFi are not in competition but are developing together in different directions. Traditional finance may not fully adopt the DeFi model but will gradually adopt parts that suit its own needs. The true integration may ultimately occur at the underlying blockchain network level, rather than one side replacing the other.For developers, the key is not to chase all markets simultaneously but to clarify the target audience: for institutions, products need to be built around compliance, risk control, and long-term business processes; for open networks, there is a need to continue exploring innovation, liquidity, and network effects. The future financial system may operate on blockchain infrastructure, but the most important innovations may still come first from open networks.