Tag: Project Updates

Pi Network Announces Inaugural Ecosystem Summit

Pi Network is set to host its first-ever Pi Ecosystem Summit from November 17-19, 2026, a three-day online event designed to bring together developers and community members. The summit will concentrate on platform updates, developer tools, and applications aimed at expanding the utility of the Pi cryptocurrency.

The announcement has coincided with a notable uptick in the price of Pi Network’s native token, PI. The cryptocurrency reportedly saw a 4% rebound, reaching approximately $0.0804. Analysts have identified $0.086 as a potential recovery target, with further resistance anticipated in the $0.09 to $0.10 range.

Focus on Developers and Application Growth

Unlike Pi Day and Pi2Day, which celebrate the network’s overall progress, the Pi Ecosystem Summit will specifically highlight the innovations being built for the Pi ecosystem. The event aims to foster growth by showcasing new tools, applications, and services developed by the community.

According to a recent tweet from the Pi Network team, the summit will feature platform updates, demonstrations of developer tools, showcases of existing applications, and discussions involving developers and the Pi Core Team. These sessions are intended to illustrate how developers are leveraging Pi’s tools to create new services and enhance user experience.

Exploring Resources and Future Opportunities

The summit will also serve as a platform for developers and “Pioneers” (Pi Network users) to explore available resources and discover emerging projects. The overarching goal is to facilitate the creation of more practical applications and provide users with expanded real-world use cases for Pi.

A significant component of the summit will involve in-depth demonstrations of Pi’s development tools, explaining how developers can utilize the platform’s features and resources to build applications. The event will also feature showcases of applications developed by both companies and community developers, detailing the services they offer and their integration with Pi.

Upcoming Hackathon and Core Team Engagement

Further details are expected regarding an upcoming Pi hackathon, which is poised to offer developers a new avenue for building applications on the Pi platform. While specific details will be unveiled during the summit, the hackathon is anticipated to be a key opportunity for innovation.

Discussions between developers and the Pi Core Team will also form a crucial part of the summit, addressing developer needs, desired functionalities, and strategies to enhance Pi’s overall usefulness through their applications.

Technological Advancements Underpinning the Summit

The Pi Ecosystem Summit takes place as Pi Network continues to advance its underlying technology. The Core Team has scheduled a Protocol 28 Mainnet upgrade, which is expected to introduce support for more sophisticated smart contracts, including subscription services, escrow functionalities, and NFTs.

Starknet Rolls Out VIP Program for STRK and strkBTC Holders

The Starknet Foundation has launched its Starknet VIP Program, a new initiative aimed at rewarding holders of the network’s native STRK token and its Bitcoin-wrapped asset, strkBTC. Announced on October 16, 2026, the program is now accessible to eligible STRK and strkBTC holders, according to details on vip.starknet.io.

Exclusive Access and Benefits

The program’s incentives focus on enhanced access and engagement rather than direct financial rewards. Qualifying participants can expect priority support, direct communication channels with the Starknet Foundation team, guaranteed entry to events, and other undisclosed benefits.

Understanding the Assets

The VIP Program encompasses two distinct digital assets. STRK functions as Starknet’s primary governance and staking token, also serving as the currency for network transaction fees. In essence, STRK is used for voting, staking, and paying for operations on the Starknet network.

strkBTC, a more recent addition, was introduced in May 2026. It is a wrapped version of Bitcoin designed for use within Starknet’s decentralized finance (DeFi) ecosystem. Initially, strkBTC’s security was managed by a consortium of institutions, and it offers optional privacy features, allowing users to shield certain transactions.

Strategic Push into BTCFi

The introduction of the VIP Program follows a series of Bitcoin-centric developments by Starknet, signaling a concerted effort to build out what the industry terms “BTCFi”—decentralized finance applications built around the Bitcoin network.

In late 2025, Starknet allocated 100 million STRK tokens as part of its strategy to integrate more deeply with Bitcoin. More recently, the network implemented a program that covered bridging fees for the initial 100 BTC transferred onto Starknet. Additionally, a weekly strkBTC faucet is available, distributing approximately $833 in value each week.

The launch of the VIP Program coincides with Starknet’s ongoing upgrade cycle, following the recent deployment of version v0.14.4 on its mainnet.

Market Reaction and Future Considerations

Following the announcement, market analysis indicated a notable 47% surge in STRK’s value, a movement attributed to increased interest in BTCFi and privacy enhancements.

However, several key aspects remain subjects of observation. The Starknet Foundation has yet to publicly disclose the specific eligibility criteria for the VIP Program or its duration. Furthermore, the security model of strkBTC, which relies on institutional management of the underlying Bitcoin, warrants continued attention from users.

Stacks reports that its Bitcoin Staking feature has successfully bonded approximately 735 BTC across its initial two bonding periods on the mainnet. The feature, which offers a projected yield of around 3% APY paid weekly in BTC, saw substantial participation, with a significant portion of the second bonding period facilitated through the liquid staking token stBTC.

Bitcoin Staking Adoption and Liquid Yield

The Genesis Bond, which opened on September 10, 2026, attracted 230 BTC. This was followed by a second bond that opened around October 10, 2026, drawing approximately 505 BTC and effectively filling its capacity of roughly 500 BTC. A key aspect of this second bond was the utilization of Stacking DAO’s stBTC, a liquid staking token, which accounted for about 483 BTC of the total. This approach allowed the bonded BTC to remain in circulation and serve as collateral across various decentralized finance (DeFi) applications while simultaneously earning staking yield.

Ecosystem Growth and Underlying Mechanisms

In parallel with the growth in Bitcoin Staking, Stacks has also observed increased activity in its native STX token staking. Following the PoX-5 hard fork, which took effect on July 30, 2026, staked STX tokens rose by over 25%, increasing from 392 million to 493 million tokens. The Proof of Transfer (PoX) mechanism, which Stacks has utilized since 2021, requires miners to commit BTC to participate in the network. Since its launch, PoX miners have committed over 4,200 BTC.

Participation and Infrastructure

Institutions such as 21Shares, HashKey Cloud, UTXO Management, and Sypher Capital were among those participating in the Bitcoin Staking bonding. Custody integrations for the feature were provided by Fireblocks, Fordefi, and Anchorage Digital.

Outlook

Looking ahead, Stacks anticipates the launch of Bond 3 around November. The adoption of the Bitcoin Staking feature and the prominent role of liquid staking solutions like stBTC highlight evolving strategies for yield generation and capital efficiency within the Bitcoin ecosystem.

Why This Matters

The materials describe a narrow update: Stacks’ Bitcoin Staking feature completed its first two bonding periods, attracting approximately 735 BTC. The exact launch date of Bond 3.

Broader Context

Source materials place the factual news in this context: Stacks’ Bitcoin Staking feature has pulled in around 735 BTC across its first two bonding periods on mainnet.

BitGo is reinforcing its commitment to safeguarding client assets by emphasizing its strict operational framework, which prevents the company from accessing or redeploying client funds without explicit authorization. This assurance comes as BitGo expands its offerings into areas such as prime brokerage, staking, and tokenized assets, services that could traditionally involve custodians utilizing client funds.

Custodial Safeguards in Practice

According to BitGo’s Chief Product Officer Eugene Hahr, the company operates strictly as a custodian, meaning client assets remain under the full ownership and control of the client at all times. This principle is underpinned by several key operational and contractual safeguards. BitGo’s custodial services agreements explicitly state that the company cannot access or deploy client assets without direct authorization from the client. This is further supported by a policy of holding assets on a strict 1:1 basis, meaning no rehypothecation occurs. Client assets are maintained in segregated accounts, ensuring they are kept separate from the company’s own funds.

Technological measures also play a crucial role in enforcing BitGo’s custodial stance. The company utilizes multi-signature wallets, which require multiple approvals for any transaction, akin to a joint bank account needing more than one signature. Additionally, BitGo employs multi-party computation (MPC) technology. MPC splits cryptographic keys into pieces held by different parties, allowing transactions to be signed collaboratively without a complete key ever existing in one place. Both multi-signature and MPC setups are designed to restrict unilateral transaction authorization, according to BitGo, preventing the company from moving client funds on its own.

Navigating Expansion

BitGo’s expansion into prime brokerage and staking services presents a familiar question for institutional clients: how are their assets protected when the custodian offers services that could generate additional revenue by putting those assets to work? BitGo’s messaging indicates a strategy to grow into these areas without crossing the line from custodian to user of client funds. Clients can opt into activities like staking, but the default position is that no asset movement occurs without their explicit consent.

Insurance and Oversight

To further bolster confidence, BitGo carries insurance coverage of up to $250 million from Lloyd’s of London. However, it is noted that this figure represents a ceiling on coverage and not a may provide that every possible loss would be fully compensated. BitGo’s banking arm, BitGo Bank & Trust, NA, operates as a federally chartered institution overseen by the Office of the Comptroller of the Currency (OCC), adding a layer of regulatory oversight.

Hahr has also highlighted the importance of robust custody infrastructure for scaling tokenized equities, particularly in markets that operate 24/7. Unlike traditional stock exchanges that close at night and on weekends, crypto markets are always active, requiring continuous operational support for digital assets.

While BitGo emphasizes its strict custodial protocols and technological safeguards, an uncertainty remains regarding whether the $250 million insurance coverage from Lloyd’s of London would cover every possible loss scenario. Nevertheless, the company’s core message focuses on maintaining client control and asset security as it navigates its business expansion.

Why This Matters

The materials describe a narrow update: BitGo’s Chief Product Officer Eugene Hahr has reiterated that the company operates strictly as a custodian and cannot access or redeploy client assets without explicit client authorization. Whether the $250 million insurance coverage from Lloyd’s of London would cover every possible loss.

Broader Context

Source materials place the factual news in this context: BitGo is pushing into prime brokerage, staking and tokenized assets.

Cardano Sees Surge in Network Activity Following New Token Standard Launch

Despite a significant downturn in the broader market at the end of last week, on-chain data reveals a notable surge in daily active addresses on the Cardano network. Following the introduction of a new token standard, daily active addresses climbed to approximately 1.7 times the average weekday level observed in September.

Simultaneously, Cardano has achieved a significant milestone in its pursuit of a “.ada” internet domain.

According to data from Santiment Intelligence, Cardano recorded around 27,500 daily active addresses on October 7, with a similar figure the following day. This represents a substantial increase compared to the average weekday activity in September. Analysts investigated whether the general market decline could account for this uptick but found that active addresses on both Bitcoin and Ethereum remained at or below their respective September averages during the same period.

The surge in activity coincided with the October 7 launch of CIP-0113, Cardano’s new programmable token standard. The Cardano Foundation explained that this standard empowers issuers of regulated assets, such as stablecoins and tokenized funds, to embed requirements like Know Your Customer (KYC) procedures, sanctions checks, and transfer restrictions directly into native Cardano tokens. The standard went live after undergoing multiple independent security audits and has received recognition from the Capital Markets and Technology Association (CMTA).

Despite this increase in network activity, Santiment cautioned that it still falls short of Cardano’s local high recorded in late August. It remains to be seen whether this heightened activity will persist beyond the initial launch phase, particularly as the price rally for ADA has begun to cool. The cryptocurrency recently reached a multi-month peak of $0.28 before facing rejection, and a subsequent market decline pushed its price below $0.24 on Friday. However, ADA has shown a rebound, trading up by over 7% in the past 24 hours.

The spike in network activity occurred alongside another potentially impactful development for the wider Cardano ecosystem. The Cardano Foundation announced at TOKEN2049 earlier this week that its application for the “.ada” generic top-level domain (gTLD) has advanced to the next stage of ICANN’s New gTLD Program. This proposal had previously garnered approximately 75% support from the Cardano community through an on-chain Governance Action.

If approved, “.ada” would function as a legitimate internet top-level domain, akin to existing extensions such as “.com” or “.org.” The Cardano Foundation believes it could eventually facilitate simplified wallet addresses, integrate decentralized identity solutions, and enable domain tokenization. However, ICANN is still in the process of assessing the application’s technical, financial, and operational readiness. Successful domains from the current application round are anticipated to be delegated between 2028 and 2030.

Sui Aims to Unlock Bitcoin’s Potential with $500 Million Infrastructure Push

Sui is poised to present Bitcoin holders with a familiar proposition: what if their BTC could do more than simply sit idle? This latest endeavor is backed by over $500 million in committed capital, earmarked for Hashi, Sui Foundation’s native Bitcoin collateral infrastructure, in anticipation of a phased mainnet launch.

Hashi Infrastructure Unveiled

The announcement, made on October 8, 2026, at Sui Basecamp, revealed that the substantial capital commitments originate from a consortium of more than 20 partner organizations, with Anchorage Digital prominently featured. Hashi is designed to maintain native Bitcoin on the Bitcoin network itself, while smart contracts on Sui will orchestrate its utilization as collateral for a range of financial activities, including lending, borrowing, credit, vaults, and structured products.

The system will generate hBTC, a tokenized representation of Bitcoin on the Sui network. Holders will be able to seamlessly convert between hBTC and native BTC via deposit and withdrawal mechanisms.

Security and Safeguards

Security for the Hashi system relies on threshold cryptography, also known as multi-party computation (MPC). Each Sui address will employ a 2-of-2 multisignature arrangement, requiring two distinct keys to authorize any transaction before assets can be moved.

Additionally, a guardian rate-limiter has been implemented to control the speed at which funds can flow, preventing malicious actors from draining assets rapidly. The project’s stated objective is to circumvent two common criticisms from Bitcoin purists: traditional wrapping methods and the centralized management of underlying coins.

Capital Commitments and Partnerships

The more than $500 million represents committed capital intended to provide initial liquidity at launch, rather than existing deposits within the system. Anchorage Digital stands out as a key institutional partner, offering clients access to Hashi through its Atlas tri-party collateral settlement system, which operates under qualified custody, and its Porto self-custody wallet. Anchorage is also contributing stablecoin liquidity to the ecosystem.

Capital is expected to enter early applications via vault providers such as Aftermath, Concrete, and Fluid.

Rollout and Compliance

Hashi’s testnet became operational on July 22, 2026, with the transition to a mainnet announcement occurring less than three months later. The phased rollout is slated to commence later in October 2026. The project emphasizes its commitment to institutional-grade compliance, with Anchorage’s involvement through qualified custody offering regulated entities a familiar entry point, rather than requiring them to trust an unproven bridge.

The rate-limiter, while a safeguard against attackers, could potentially slow down legitimate withdrawals during periods of market volatility when users may need urgent access to their funds.

Key Metrics to Watch

The coming weeks will be crucial for observing the conversion of the over $500 million in commitments into live liquidity. Key indicators to monitor include the speed of hBTC adoption across Aftermath, Concrete, and Fluid, and the number of Anchorage clients who ultimately route their Bitcoin through Atlas or Porto.

NEAR’s investment case is primarily anchored by its robust blockchain business, with its burgeoning artificial intelligence ambitions serving as a significant secondary benefit, according to Bitwise Chief Investment Officer Matt Hougan. This perspective emphasizes NEAR’s current utility and revenue generation as the core value proposition, while its AI-related initiatives represent potential future growth.

Blockchain Foundation: NEAR Intents Drives Performance
The bedrock of NEAR’s investment case lies in its established blockchain operations, particularly its NEAR Intents product. This system has facilitated a cumulative trading volume exceeding $30 billion and is projected to generate approximately $45 million in fees this year. A portion of these fees is allocated to token buybacks, directly benefiting token holders. Hougan underscored this current business activity, stating, “When I’m investing in NEAR, I’m buying an exciting blockchain business,” characterizing the AI opportunity as “additional upside.”

NEAR Intents streamlines cross-chain transactions by enabling users to define desired outcomes, with a network of solvers managing the execution. This functionality simplifies the often-complex process of navigating separate wallets, bridges, and exchanges, thereby enhancing accessibility for ordinary users. The success of NEAR Intents in attracting human users provides a tangible basis for its investment case, irrespective of the pace of AI agent adoption.

Market Performance Snapshot
In the third quarter, the NEAR token experienced a substantial surge of 198%, significantly outperforming both Bitcoin, which gained 43%, and Ethereum, which rose 71%. This performance highlights current market interest in the NEAR token, further bolstering the narrative of a strong existing blockchain business.

AI Ambitions: Future Potential and Uncertainties
Beyond its current blockchain utility, NEAR is positioning itself as essential infrastructure for AI agents to transact with each other and the broader digital economy. This ambition is underpinned by NEAR’s foundational contributions to AI research, notably co-founder Illia Polosukhin’s co-authorship of the 2017 paper that introduced the transformer architecture, a critical component of modern large language models. Hougan described NEAR’s strategy as developing valuable services today that could support a larger future market for autonomous agents. He also noted progress in confidential AI infrastructure, designed to safeguard data during processing.

However, the ultimate extent to which NEAR will capture the market for AI agents and the timeline for the development of agentic finance remain subjects of uncertainty. Hougan acknowledged that human activity currently constitutes the majority of NEAR’s usage, and NEAR Intents has gained traction by simplifying crypto for individuals, rather than through widespread adoption by AI agents. His overarching argument suggests that investors can evaluate NEAR based on its existing products generating activity and fees, while its role in an economy of AI agents represents a longer-term prospect.

In conclusion, according to the memo, NEAR’s investment case is firmly supported by its current blockchain business, exemplified by the success of NEAR Intents. Its AI ambitions present a significant, though less certain, avenue for future growth, offering additional upside potential for investors.

Why This Matters

The materials describe a narrow update: Bitwise CIO Matt Hougan stated that NEAR’s investment case is based on its existing blockchain business, particularly NEAR Intents, and that its AI ambitions represent additional upside potential. The pace at which agentic finance will develop.

Broader Context

Source materials place the market analysis in this context: Bitwise Chief Investment Officer Matt Hougan’s weekly CIO memo.

BTCPay Server Releases Update With Enhanced Security and Faster Invoices

BTCPay Server has rolled out version 2.4.5, bringing significant improvements in security and invoice processing speed. However, a notable change requires attention from users operating their stores via the Tor network.

Tor Support Now Optional

A key adjustment in this release is that Tor support is no longer enabled by default. Users who rely on an onion address for their BTCPay Server instance will need to manually re-enable Tor after updating to ensure their service remains accessible. This change is particularly relevant for those using Docker deployments, which have undergone a substantial cleanup in this version.

Addressing Server-Side Request Forgery

The most significant security enhancement targets Server-Side Request Forgery (SSRF), a vulnerability where an attacker can trick a server into making requests on their behalf, potentially accessing sensitive internal systems. Version 2.4.5 introduces protections against SSRF across Lightning and LNURL outbound requests, as well as invoice webhooks, making the server more discerning about the traffic it forwards.

Stricter Refund and Privacy Measures

Refund processes have also been tightened, with the update requiring more stringent permissions for approval. This limits the number of individuals within a store’s team who can initiate outgoing payments, thereby reducing insider risks and the potential damage from a compromised account.

Privacy has also received a boost. Public invoice details will now be automatically hidden one month after an invoice is issued, preventing old payment pages from indefinitely broadcasting sensitive information.

Performance and Integration Updates

On the performance front, the development team has focused on accelerating invoice generation. The release also marks the retirement of several older, unmaintained integrations, including Bitcoin Plus, Trezarcoin, and JoinMarket.

A new command-line tool, btcpay-routes, has been introduced, granting administrators greater control over Lightning API routes. This offers operators more flexibility in managing and exposing their Lightning network configurations.

Developer-Focused Enhancements

Beyond these headline features, the GitHub release notes detail breaking changes, new Greenfield APIs, and improvements to plugins and database functionality. Greenfield serves as BTCPay Server’s API for building custom applications on the platform.

Furthermore, the Plugin Builder registration has reopened with enhanced sandboxing capabilities. Sandboxing isolates plugins, making it more difficult for faulty or malicious ones to affect the core system.

Previous Releases and Recommendations

Version 2.4.5 follows closely behind 2.4.4, released in September, and 2.4.2, released in August 2026, both of which also emphasized security enhancements.

For all BTCPay Server users, the primary recommendation is to update the software through the server’s settings menu. Immediately after updating, administrators are advised to verify their Tor configuration. Developers working with custom integrations, plugins, or scripts are urged to review the GitHub release notes for any breaking changes before upgrading production environments. The new one-month privacy default for public invoices is considered a sensible measure to limit the long-term exposure of payment details.