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lp

LP stands for Liquidity Provider, referring to individuals or entities that provide liquidity on decentralized finance (DeFi) platforms to support trading. Liquidity providers help decentralized exchanges (DEX) maintain market liquidity by depositing crypto assets into liquidity pools, and they earn trading fees and other rewards from this. LPs play a crucial role in the DeFi ecosystem, facilitating the realization of intermediary-free trading and the widespread application of decentralized financial products.
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first_img Solana's largest network upgrade Alpenglow is online, with the final confirmation time reduced to about 150 milliseconds

Solana's largest network upgrade since 2020, Alpenglow, officially launched on Wednesday. This upgrade moves validator voting from on-chain to off-chain, packaging votes into certificates that can lock transactions within one to two rounds, aiming to reduce the final confirmation time for transactions from about 6 seconds to approximately 150 milliseconds, speeding it up by about 40 times. If this goal is achieved on the mainnet, Solana's transaction settlement speed will be faster than the blink of an eye, bringing it closer to the trading and payment experience of centralized exchanges.Currently, a 6-second confirmation time means that prices may change before the transaction is locked, causing exchanges and payment applications to wait before considering deposits as complete. In comparison, Ethereum takes about 13 minutes to achieve full final confirmation. At the same time, validator costs are expected to decrease by about 60%: currently, validators spend about 2 SOL daily on voting fees, which doubled after Solana recently reduced block time to about 200 milliseconds; Alpenglow eliminates voting fees, replacing them with a fixed validator entry fee of 0.8 SOL per epoch (approximately 24 hours).The upgrade launch process was not smooth. The testnet has been cleared and restarted from scratch six times since its launch in early May, with one migration failing across the entire network and having to be rolled back. According to an article published by Galaxy Digital, one of about 100 validator operators on the testnet, a subsequent migration was successfully completed, clearing the way for Wednesday's launch. Since these events occurred on a network built specifically for testing, there was no risk to real funds. The upgrade was scheduled to switch at the start of epoch 1064 on Wednesday, with actual changes occurring at slot 459,653,000 after a transition of 5,000 slots.

first_img Cryptocurrency research institution Delphi Digital: Speculation is the theme of this decade, and one should hold clearinghouses

On October 20, 2026, Jason Pagoulatos, a macro and market author at the cryptocurrency research institution Delphi Digital, released a report titled "The House Always Wins: Why Speculation is the Theme of This Decade." Pagoulatos stated that speculation has two long-term engines: constructive and lottery-like. Technological changes open the former, while fiscal and political pressures open the latter; historically, many famous bubbles have been driven by one or the other. Today, both are operating at high speed simultaneously, and the same batch of technologies is feeding both. He thus considers speculation itself as an investable theme, advocating for holding places for liquidation bets rather than holding the bets themselves.The data cited in the report includes that the U.S. federal deficit for fiscal year 2025 is $1.8 trillion, about 5.8% of GDP, with net interest around $1 trillion per year, exceeding defense spending. The Harvard Joint Center for Housing Studies states that the national median price for single-family homes in 2024 is 5.0 times the median household income; the National Association of Realtors reports that first-time homebuyers account for 21% of transactions, with a median age of 40. According to the American Gaming Association, legal sports betting amounts have risen from $6.6 billion in 2018 to $166.9 billion in 2025. Capital expenditures for Microsoft, Alphabet, Amazon, and Meta are approximately $416 billion for 2025, with guidance for 2026 totaling about $720 billion to $745 billion, plus Oracle.In terms of venues, Robinhood's event contract revenue for Q2 2026 is $156 million, higher than stock revenue of $129 million and crypto revenue of $100 million during the same period. Hyperliquid's expenses for 2025 are about $972 million, with transactions around $3 trillion. Kalshi reportedly raised funds at a valuation of about $40 billion, and Polymarket is set to relaunch in the U.S. by the end of 2025. The author also mentions that the most likely mistake is to hold inventory of the crowd and call it a casino. The report states that it is for educational and general informational purposes only and is not investment advice; the author may hold Bitcoin, HYPE, HOOD, and LIT, and affiliated party Delphi Ventures may invest in the assets or agreements discussed in the report.

first_img Anza is scheduled to launch the Solana Alpenglow mainnet upgrade on October 21

According to The Defiant, the Solana development team Anza has scheduled the migration of Alpenglow's mainnet Beta for approximately 10:50 AM Eastern Time on October 21 (Wednesday), at which point the new consensus system will replace TowerBFT, aiming to reduce the final confirmation time for transactions to about 150 milliseconds. The Solana Foundation's upgrade guide indicates that the final confirmation time under TowerBFT is about 12.8 seconds. Final confirmation refers to the point in time when a transaction can no longer be rolled back, rather than the block interval.Alpenglow's Votor voting protocol no longer submits votes as on-chain transactions; instead, messages are sent directly between validators and aggregated into certificates, allowing blocks to be finally confirmed after one to two rounds of voting. The removal of voting transactions from blocks also frees up block space for users, while the execution and fees for user transactions remain unchanged. This upgrade had previously completed the migration of the testnet and development network in September, and the mainnet functionality switch has not yet been activated. According to Anza's activation policy, the new version of the software must be adopted by 95% of the staked amount for two epochs before it can be activated on the mainnet.The migration plan separates the activation of the functionality switch from the handover itself: the functionality switch is activated at the epoch boundary, and after 5,000 slots, blocks will pause carrying user transactions and will only contain votes. Validators will then establish the Alpenglow genesis certificate supported by 82% of the staked amount, roll back blocks containing only votes, and then restore user transactions with Votor. Anza expects the handover to take several hundred milliseconds.
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