Project Progress

Hyperliquid founder Jeffrey Yan declined the financing after receiving an expression of interest from an investment of $100 million at an estimated valuation of about $1 billion, to maintain the neutrality of the agreement. He believes that bringing in outside capital would undermine users’ trust in the agreement, and chose to support operations with his personal funds. Hyperliquid’s four core principles emphasize extreme decentralization and an operating model with no outside shareholders, distinguishing it from other DeFi projects.

The Pi Network ecosystem is accelerating its transition, with more than 210 active applications and 23,000 developers actively participating in Pi Studio, spanning multiple areas such as payments, community engagement, education, and gaming. The ecosystem’s diversity shows indicators of healthy development, and developers’ engagement is driving ongoing application optimization. In the future, improving the usefulness of the mainnet will be a key challenge, including issues that need to be urgently addressed such as scalability, security, and user adoption rates.

Bittensor co-founder Jacob Steeves accuses Covenant AI’s Simon Dare of intentionally causing damage to the agreement, leading to a sharp drop in TAO tokens. Steeves proposes a locked-staking mechanism that uses on-chain code to enforce commitments and prevent founders from making sudden, surprise exits. Even as the crisis unfolds, Bittensor’s open-source architecture can still ensure the agreement continues to operate, and it is set to hold a meeting to introduce the new mechanism.

Ethereum Layer 2 network Scroll saw roughly 139,000 transactions have excess fees of more than $50k because the manual increase in the gas price multiplier led to higher transaction costs than expected. The actual cost was far above the forecast. The incident sparked widespread questions about its subsidy strategy, and Scroll’s TVL also fell sharply to $24 million.

Aave DAO has passed the “Aave Will Win” framework, allocating $25 million to Aave Labs, and confirming that all brand application earnings will be fully directed into the DAO treasury. It will reform its governance structure by replacing bureaucratic procedures with a results-oriented approach. Future agreement revenue is expected to reach $140 million. Funding for each specific product still requires a separate proposal review.

The Osaka/Mendel hard fork on BSC will launch on April 28, requiring node operators to update to BSC v1.7.2. The upgrade enhances block construction, transaction handling, and introduces a gas limit cap for improved network stability.

Aave founder Stani announced on a social platform that Aave will pivot to $AAVE as its core token, with all revenue flowing back to the DAO treasury. In the future, it will launch a debit card and financial technology experience, aiming to increase the protocol’s scale from $40 billion to $1 trillion, positioning it as a foundational market for traditional financial assets.

Aave DAO recently passed a proposal supporting Aave Labs with a $25 million grant, with a voting approval rate of about 75%. The proposal includes an immediate allocation of 5 million aEthLidoGHO tokens and a staged release of 20 million tokens, and it also sets aside 75,000 AAVE tokens for ecosystem support.

Sun Yuchen publicly accused World Liberty Financial (WLFI) of embedding a backdoor in its smart contract, claiming that its wallet was unlawfully frozen in 2025, and pointing out four categories of misconduct by the WLFI team: charging unreasonable fees, controlling the backdoor, freezing funds, and manipulating governance. He emphasized that this conduct violates basic investor rights and called on WLFI to restore transparency.

Cardano is preparing for the Van Rossem hard fork, set for June 2026, which will enhance performance and security. However, the 10.7.0 release faced setbacks due to memory issues, delaying its promotion to mainnet readiness, while analytics capabilities are expanding.

Aave Labs has achieved SOC 2 Type II compliance, enhancing its operational standards in security and data protection. This milestone fosters trust in DeFi, enabling institutional participation and positioning Aave for mainstream adoption. It underscores the industry's maturation and competitive edge.

Bittensor co-founder Jacob Steeves responds to the Covenant AI incident, accusing its founder of betraying trust and issuing an apology. Steeves says he will move forward with a locked staking mechanism, enhance protocol transparency and resilience to risk, and continue to push for open AI development.

Ethereum's upcoming upgrade, Glamsterdam, is progressing slowly, with developers targeting next week for its first devnet. Key features include gas repricings and EIP-7954. The upgrade is expected in 2026, while future upgrades like Hegotá are also underway.

Bitcoin developers have released v31.0rc4 for testing, introducing enhanced privacy through Tor and I2P networks, improved mempool design, fee efficiency, and performance upgrades. This update aims to optimize transaction management and protect user anonymity.

MiniMax announced that its M2.7 model is officially open-sourced, achieving SOTA performance of 56.22% and 57.0% on the SWE-Pro and Terminal Bench 2 benchmark tests, respectively. The model is available on Hugging Face and has the ability to build complex agent frameworks.

The Bitcoin community has recently proposed two major defense measures against the risk of quantum computers breaking cryptography: Lightning Labs’ recovery tools can prove wallet ownership without exposing the seed; StarkWare’s quantum-secure Bitcoin (QSB) strengthens transaction security by using hash functions, without changing the core protocol. These technologies help improve Bitcoin’s resilience in addressing future risks.

Gate News message, April 12, Aave announced that, because multiple assets have reached their maximum capacity, Aave V4 has increased deposit limits this time to accommodate additional liquidity. In addition, Aave said that deposit and borrowing limits will continue to be gradually raised as funds are filled.

Pi Network has taken another step to improve its system for developers. The project has launched a new RPC server upgrade on its Testnet, making it easier to build and test apps on the network. This update allows node operators to run their own RPC servers In simple words, developers no longer