Crypto projects reported a broad set of updates over the past week, spanning protocol roadmaps, governance changes, product launches and onchain data shifts across Ethereum, Robinhood Chain, Hyperliquid, Uniswap, ENS, Jupiter, UniSat, x402 payment providers, MegaETH and World Liberty Financial.
Ethereum L1 moves away from Poseidon
Ethereum Foundation researcher Justin Drake said the EF will stop pursuing Poseidon as the hash scheme for Ethereum L1 and instead adopt traditional hash functions such as SHA or BLAKE.
Drake said recent breakthroughs in SNARK designs over binary fields mean traditional hash functions including SHA2 and BLAKE2s can now achieve performance in SNARKs comparable to Poseidon. That reduces reliance on specialized SNARK-friendly hashes and pushes Ethereum toward a more hash-centric post-quantum cryptography path.
According to Drake, the EF post-quantum team is building along that direction. The current roadmap targets a production-grade leanVM in 2027, followed by deployment across the consensus, data and execution layers in 2028.
Robinhood Chain becomes the top network for NFT trading volume
Robinhood Chain recorded $3.13 million in daily NFT trading volume, surpassing Ethereum and becoming the largest network by NFT volume.
Recent activity on the chain has been driven by a mix of NFT, meme and RWA trading themes, with StonkBrokers at the center. The project at one point reached a market capitalization above BAYC, helping lift NFT turnover on Robinhood Chain.
Onchain data showed average daily transactions on Robinhood Chain reached 11.6 million last week, a network high and about 30% above the previous week. Total value locked climbed to $473 million, up 32% week over week.
Daily active accounts, however, rose only 3.3% and remained 11% below the July 16 peak, showing that gains in volume and TVL did not translate into a comparable expansion in user count.
At the same time, USDe on Robinhood Chain grew from $17 million a month earlier to $253 million, accounting for about 43% of the chain’s total stablecoin supply and becoming a major contributor to TVL growth.
Hyperliquid plans to put idle HLP cash to work
Hyperliquid founder Jeff said that after the next network upgrade, HLP will automatically move USDC not being used for market making into the HyperCore native lending pool to earn interest.
Onchain data shows HLP currently has about $188.7 million in TVL. Of that, roughly $148.7 million in the main account is idle cash, close to 79% of total funds, while about $40.06 million is allocated across seven sub-strategies.
The Hyperliquid native lending pool currently has about 176 million USDC supplied and about 112 million USDC borrowed, for a utilization rate of 63.7%. Borrow APR is 5%, while supply APR is about 2.87%.
Jeff described the change as a step that turns HLP from a pool focused mainly on market making and liquidations into a multi-strategy vault that allocates capital automatically.
Uniswap reroutes fees linked to a test token
Uniswap founder Hayden Adams said a token created during Pools trade testing was not expected to be discovered by the public.
He said the team has given up all creator fees generated by testing done by Uniswap employees and has directed all past and future related fees to an automatic buyback-and-burn contract.
The fees will be released in ETH, and anyone can claim ETH by burning the corresponding token. Adams said he is also considering opening the mechanism to other token deployers.
ENS Foundation becomes a formal operating body
Ethereum Name Service said token holders have passed and executed the “Next Era of ENS DAO” proposal, making ENS Foundation a formal operating organization with a full-time executive director, staff and a five-member board.
The foundation will handle participation in institutions including ICANN, IETF and W3C, advance work related to the .ens top-level domain, conduct regulatory engagement and oversee brand protection. ENS Labs will continue to lead protocol and product development.
ENS tokens held by the DAO account for 54.6% of total supply and remain under token holder control. The only transfer approved is a one-time allocation of 1 million ENS to the foundation for employee compensation under the established framework.
Transactions involving the ENS Endowment will add a nine-day timelock. The ENS Security Council can block operations that exceed the foundation’s authorized scope.
Foundation directors are appointed and removed by token holders. The first five-member board includes executive director Alexander Urbelis, ENS founder Nick Johnson, Kartik Talwar, Brett Sun and Anthony Leutenegger.
Jupiter rolls out Lend v2 on Solana
Solana lending protocol Jupiter launched Lend v2, allowing deposited and borrowed assets to also serve as trading liquidity so the same capital can earn both lending yield and swap fees.
The upgrade includes optional Smart Collateral and Smart Debt features. Smart Collateral can automatically allocate USDC, USDT, SOL or JupSOL into highly correlated liquidity pools. Smart Debt lets borrowed assets generate trading fees that offset part of borrowing costs.
Jupiter Lend currently has about $1.9 billion in deposits and about $823 million in active loans.
UniSat raises the default seed phrase length for new wallets
UniSat released its August 2026 security update, and browser extension wallet v1.7.19 now changes the default seed phrase length for newly created wallets from 12 words to 24 words. It also updates wallet creation and seed phrase management flows.
UniSat said the change is a long-term security configuration upgrade. Existing 12-word wallets still comply with the BIP-39 standard, so users do not need to migrate urgently just because the default setting has changed.
The company also said it has taken remediation or hardening measures for several recent community security reports based on their scope of impact.
USENIX study finds security-rule violations across x402 payment providers
A study presented at the 35th USENIX Security Symposium tested 15 major x402 payment providers, including Coinbase, Thirdweb, PayAI and Mogami.
It found that every platform tested violated at least one security rule, with 49 rule violations and 31 distinct vulnerabilities in total.
Those providers accounted for 99% of x402 transaction count and 98% of payment volume during the study period, though the paper said that does not mean the same share of transactions was vulnerable.
The researchers grouped the risks into four categories: obtaining goods or services for free, asset theft, service disruption and gas-fee abuse. They validated six attack paths under constrained conditions and did not actually move provider assets.
Coinbase, PayAI and Mogami together confirmed six vulnerabilities. Some have been fixed, while the rest are still being addressed. The extent to which those fixes have been applied across live x402 infrastructure remains unclear.
USDm supply drops more than 95% from peak
MegaETH native stablecoin USDm now has a supply of about $18 million, down more than 95% from a peak of about $600 million in May this year.
USDm was launched through a collaboration between MegaETH and Ethena. Its reserve assets are allocated to BlackRock’s BUIDL fund, and the resulting yield is used for MegaETH token buybacks and burns.
Castle Labs estimated that, based on the current supply of about $18 million and a SOFR of about 3.6%, USDm could generate roughly $650,000 in annual yield. It also said the sharp decline in supply is linked to weaker onchain usage on MegaETH.
World Liberty Financial delays Maldives resort yield token
World Liberty Financial and its partners have delayed the planned issuance of a digital token tied to a Trump-branded resort in the Maldives.
The token had been scheduled to go on sale this spring and would have given investors a share of proceeds from loans used to finance the resort. The launch was postponed after the Iran war disrupted regional travel, and no new listing date has been set.
The project is being developed by UK-listed DAR Global and had been planned as one of World Liberty’s key real-world asset tokenization efforts. The company had previously also discussed tokenizing assets including real estate, investment funds, oil and gold.