protocol

The messaging protocol XMTP founder Shane Mac stated that XMTP will evolve into a self-operating open-source messaging stack, providing private conversations between people and agents, with infrastructure controlled by users, without requiring tokens or wallets. The network hosted by XMTP Labs will shut down in early 2027.Shane Mac mentioned that he founded XMTP five years ago because he believed that private messaging should not be owned by a single company. He recalled that the team envisioned using wallets as cross-application identities, allowing messages to follow identities, and using tokens to pay infrastructure operators, but this path was not realized. XMTP has never issued tokens and will not issue them now. He admitted that it was a wrong decision to persist with a single shared network for a long time, as developers have consistently requested the ability to self-host XMTP. Therefore, it has shifted to self-hosting, allowing developers to use, inspect, modify, and maintain the entire software suite without relying on Labs. Former employees will assist in maintaining the protocol, and Shane Mac himself will continue to be involved.The article introduces that self-hosted XMTP offers quantum-resistant end-to-end encryption, private one-on-one and group chats, encrypted identities, and message authenticity, as well as SDKs for mobile, web, server, and agents. Chief Technology Officer Nick Molnar has simplified the backend to a single Rust binary and integrated attachments, push notifications, handles, and signed webhooks for new messages. Each self-hosted network does not automatically interconnect by default, and agents from different tools must connect to the same backend to share conversations.

The Cardano ecosystem's decentralized trading and yield protocol Genius Yield is gradually ceasing operations. Co-founder Lars Brünjes stated on October 22 that to address the issue of users being unable to withdraw assets normally, an independent open-source tool called Genius Zero has been developed.Genius Zero allows users to bypass the original backend servers of Genius Yield and directly use Cardano smart contracts to unstake, cancel DEX orders, and withdraw assets. The original DEX trading fees still flow to the address controlled by Genius Yield, and adjusting the fee rates requires the signatures of at least three of the four original founders, which has not yet received sufficient authorization.

According to Salus monitoring, the attackers of Drift Protocol transferred 4,600 ETH, worth approximately 11.23 million USD, to Tornado Cash in 46 transactions from another long-dormant wallet between 15:00 and 15:19 Beijing time. This wallet had not made any outgoing transactions for about 202 days and still held 20,285.82 ETH at the time of monitoring.Salus stated that another wallet previously tracked had deposited an additional 6,110 ETH into Tornado Cash on top of the previously disclosed 19,600 ETH, bringing the total deposits of that wallet to 25,710 ETH. The two tracked wallets have cumulatively deposited 30,310 ETH into Tornado Cash.

Solana ecosystem leverage and yield infrastructure protocol Hylo announced the completion of a $1 million strategic financing round, led by Solana Ventures, with participation from Colosseum.Hylo stated that this is Solana Ventures' second investment in Hylo and Colosseum's third investment. Hylo noted that this round of financing reflects the continued support from both institutions for its vision of expanding leverage and yield infrastructure on Solana.

The on-chain data platform DefiLlama announced a collaboration with the prediction market platform Trueo to launch a new prediction market settled with DefiLlama data, covering protocol revenue and the probability of vulnerabilities occurring.Revenue markets include protocol revenues from Hyperliquid, Pump, Aero, Uniswap, Collector Crypt, and Papertrade. Vulnerability markets cover DeFi hacking incidents and the probability of specific protocols being exploited, including whether Aave and Morpho will experience vulnerabilities this month, as well as weekly and monthly markets for the scale of the largest hacking events.Other on-chain indicator markets include the RWA market capitalization and DEX trading volume of Robinhood Chain, as well as who will have a higher TVL this weekend between Solana and Base.

According to Crypto Briefing, NEAR Protocol has launched a confidential multi-signature treasury management platform called NEAR Business, aimed at crypto-native teams and institutions. It supports handling payroll, vendor payments, cross-chain exchanges, and fund allocation within a single dashboard, covering over 35 blockchains including Bitcoin, Ethereum, and Solana, as well as more than 200 types of assets. Cross-chain transfers are completed through NEAR Intents.The platform operates on NEAR's private sharding infrastructure, with transaction details kept confidential but available for auditing; the platform is free to use, with a 0.35% fee for exchanges, currently limited to invite-only access.

According to on-chain analyst Yu Jin's monitoring, the hacker who stole $285 million in assets from Drift Protocol at the beginning of April transferred 25,710 ETH, worth $61.24 million, through Tornado 3 hours ago.The hacker had exchanged the stolen assets for 131,564 ETH at an average price of $2,154 in early April, and transferred 24,400 ETH through Tornado in July; the current address still holds 81,454 ETH, worth $194 million.

SolanaFloor posted on platform X that Cardboardtrade, regarded as the Solana version of Papertrade's perpetual contract protocol, currently has an average daily trading volume of approximately 1 billion dollars. It is reported that the platform offers up to 1000x leverage trading for BTC, ETH, and SOL, with a total liquidation amount exceeding 564 million dollars and an open interest (OI) reaching 38 million dollars.A data screenshot provided by SolanaFloor shows that the total trading volume of the protocol is approximately 4.4 billion dollars.

The Bitcoin infrastructure protocol Echo Protocol announced on platform X that it will gradually terminate the operation of the protocol due to business adjustments. The official announcement expressed gratitude to the community, partners, and users for their long-term trust and support, and committed to completing the subsequent liquidation work transparently and responsibly.Currently, all core businesses of the Echo Protocol have fully stopped accepting incremental funds. The lending protocol has halted new deposits, new loans, and interest accrual, while the strategy and LSD businesses have also ceased new deposits and new pledges.The official has now opened repayment, withdrawal, and necessary asset liquidation channels, urging users to take action as soon as possible: lending users should repay debts, release collateral, and withdraw assets promptly; strategy and LSD users should initiate exits and claims as early as possible; users holding aBTC can continue to use the Aptos-to-B² cross-chain bridge for redemption.To ensure an orderly liquidation process, the announcement specified key timelines. All borrowers with outstanding debts must complete repayments by November 14, 2026, or face collateral liquidation, with the proceeds used to repay lenders. The final deadline for users to make repayments, withdrawals, and release pledges is November 19, 2026, at 23:59 (UTC).After this, the Echo Protocol will officially cease operations, and all remaining positions will enter the final liquidation and settlement process, with the platform only retaining the redemption service of the Aptos-to-B² cross-chain bridge. Since LSD and Strategy assets depend on the request time for underlying pledges/unpledges, the actual time users can claim will be affected by this factor.

Fortune Protocol officially announces a collaboration with the AI Agent platform X-Agent. The two parties will jointly explore the combination of prediction markets and proactive Personal Agents, promoting the extension of prediction markets from information inquiry tools to personalized, proactive information service scenarios.In this collaboration, Fortune Protocol will provide prediction market scenarios and related market data capabilities, while X-Agent will leverage its advantages in Personal Agent technology and application design to jointly explore how AI Agents can continuously track events of interest to users, identify changes in market probabilities, provide contextual interpretations, and take further actions with user authorization.The two parties will first advance the design of application scenarios and the development of conceptual prototypes, exploring the application potential of prediction markets in the next generation of personal AI Agents and the Agent Economy.

According to official news from IoTeX, the Zanzibar hard fork has been activated on the IoTeX mainnet (block height 53,533,081). According to IIP-59, voter rewards will be calculated and distributed on-chain during each reward cycle, eliminating off-chain services and intermediaries, allowing anyone to directly verify each payment on-chain. The first on-chain distribution will take place the following day.This upgrade also strengthens consensus by checking the proof of holding representative keys, preparing for subsequent BLS signature aggregation. Node operators need to upgrade to iotex-core v2.5.1 without the need to modify configurations or resynchronize.

According to Bitcoin.com News, the European Union has signed an additional protocol to the Council of Europe’s Convention on Laundering, Search, Seizure, and Confiscation of the Proceeds of Crime and on the Financing of Terrorism (the "Warsaw Convention") with eight countries: Georgia, Greece, Hungary, Luxembourg, Monaco, Montenegro, San Marino, and the United Kingdom.This protocol includes virtual assets and virtual asset service providers (VASP) within its scope, aiming to address transnational crimes such as money laundering and terrorist financing using cryptocurrency. Key measures include allowing the emergency freezing/confiscation of virtual assets without prior notice when there is a risk of transaction; expanding the powers of Financial Intelligence Units (FIU) to suspend cryptocurrency transactions suspected of money laundering; requiring countries to establish dedicated asset recovery and management offices; prioritizing victims in reclaiming confiscated assets; and generally dividing recovered funds exceeding 10,000 euros among participating countries, while encouraging the use of confiscated assets for social welfare or public purposes.

NEAR Protocol announced support for users to earn SOL rewards through confidential accounts. After users deposit funds into the vault, the vault cannot know their address, and there are no lock-up requirements, allowing for redemption or withdrawal at any time. The related vaults are deployed by Gauntlet on Kamino.

The decentralized trading protocol Metric has officially launched, allowing users to exchange tokens, provide liquidity, and deploy their own liquidity pools. Metric is currently available on Robinhood Chain, BNB Chain, and Ethereum.

The decentralized social network Farcaster has changed ownership for the second time this year. Network School, led by Balaji Srinivasan, has acquired Farcaster from Neynar, with the transaction amount not disclosed. Neynar co-founder Rish stated on Thursday that after considering multiple acquisition offers, the company decided to transfer the "Farcaster application, protocol codebase, and related products" to Network School, citing that Farcaster needs a different operational model in the next phase. Rish and another co-founder, Manan, will leave, while the remaining Neynar employees will join Network School to continue developing Farcaster.Neynar acquired the platform from Farcaster's original developer, Merkle Manufactory, in January this year, and the deal also included the token issuance platform Clanker. Rish's announcement did not mention the fate of Clanker, but GM Farcaster host Adrienne and NourishProf mentioned during a live broadcast on Thursday that Rish is considering splitting Clanker and seeking other buyers for it. Meanwhile, an in-app announcement indicates that Farcaster will be renamed "Network Nation Protocol," aiming to build a network composed of a voluntarily joined digital society, ultimately landing in the physical world.Users must choose to accept or reject a "social smart contract," with acceptors receiving an on-chain access NFT as proof.

Unified Account Protocol Clovis announced that the private mainnet is now live. Clovis integrates revenue, cross-chain assets, and collateralized lending into a single unified account, allowing users to deposit assets on supported chains and transfer assets between chains.According to the official statement, users can use eligible positions to natively borrow assets in the market built on Morpho on Base.

OAK Research researcher Lilian Aliaga wrote that the on-chain options protocol Derive (formerly Lyra) has a nominal trading volume of $14.22 billion since January this year, approximately 2.6 times that of the entire year of 2025, accounting for nearly 75% of the on-chain options nominal trading volume and 88.1% of the paid premiums. The nominal trading volume in September was $3.43 billion, and it has exceeded $1 billion in the first week of October.The article states that Derive completed its V3 migration on October 6, 2026, abandoning its own chain and opting for zero-knowledge applications to settle directly on Ethereum, planning to become an options engine accessible to other applications. V3 introduces mutually isolated risk domains, including Prime covering BTC and ETH, an independent HYPE domain, an Alt domain covering SOL, XRP, ZEC, and DOGE, and an RWA domain covering tokenized gold.According to the article, Derive launched V2 in December 2023, replacing automated market makers with an order book as the main source of liquidity, and will launch portfolio margin in February 2024; Lyra will be renamed Derive in August 2024, and DRV will be launched in January 2025. In October 2025, FalconX became the publicly confirmed institutional market maker quoting on Derive, with collateral retained on its own side and positions represented on-chain in fxUSDC.

Sui lending protocol Scallop announced the launch of the browser wallet Scallop Wallet. This wallet is a self-custody product and is now available in the Chrome Web Store.According to the official introduction, users can manage assets, exchange or purchase cryptocurrencies, compare lending rates within the Sui ecosystem, and track their positions in Scallop, all within the same wallet.

Uniswap posted on platform X that currently nearly half of the trading volume of the Uniswap protocol is completed through version v4, with over 44 billion dollars in trading volume in the past 30 days.According to the data released, in the trading volume share of various versions of the Uniswap protocol over the past 30 days, v4 accounted for 49.9%, v3 accounted for 44.9%, and v2 accounted for 5.2%.