Project Progress

Kelp DAO issued a statement on April 21 rebutting LayerZero’s criticism of its 1/1 DVN configuration, pointing the root responsibility for the $292 million vulnerability in this incident to LayerZero’s infrastructure. Aave released an event impact assessment report: under a scenario where losses are evenly distributed, about $124 million; under a scenario where losses are concentrated on L2, they reach up to $230 million.

Mizuho Financial Group, Nomura Holdings, Japan Securities Clearing Corporation (JSCC), and Digital Asset jointly announced on April 21, 2026 (Monday) that they will launch a pilot for Japan government bond (JGB) collateral management on the institutional-grade blockchain platform Canton Network, with the goal of enabling around-the-clock, real-time collateral exchanges between custodians across accounts.

Pi Network co-founder Nicolas Kokkalis will speak at Consensus 2026, addressing online identity verification amidst AI challenges. The network is experiencing rapid development, having achieved significant milestones, including protocol upgrades and smart contract launches, while also enhancing security and user verification.

Tencent QClaw launched its overseas beta on April 21, featuring over 80 improvements from the domestic version. Users can earn daily tokens, with the initial launch available in multiple languages across various countries.

RedotPay has integrated SUI and USDC-Sui, allowing users to spend tokens and transfer funds in local fiat across 100+ countries. With 7 million users and $10 billion in annual payments, RedotPay is already profitable. The integration highlights fintech's shift towards blockchain solutions for international transactions.

On April 18, a Kelp cross-chain bridge exploit led to the theft of $292 million in rsETH. Lido reported $21.6 million in exposure via its EarnETH vault, prompting Aave to freeze relevant markets. EarnETH has paused transactions and is deleveraging, while Lido's DAO treasury implemented a $3 million protection mechanism to cover potential losses. The core staking protocol remains unaffected.

Ripple has developed a four-phase roadmap to secure the XRP Ledger against quantum computing threats by 2028, addressing concerns over blockchain cryptography vulnerabilities. Key phases include researching quantum risks and implementing advanced security methods. XRP Ledger is currently better equipped than Bitcoin, with built-in key rotation enhancing safety.

Hong Kong's Securities and Futures Commission (SFC) has established a regulatory framework for round-the-clock trading of tokenized products on licensed platforms. With 13 tokenized products and approximately HK$10.7 billion in assets, this initiative aims to integrate traditional finance with Web3 through regulated stablecoins and tokenized deposits, enhancing liquidity.

JSCC, under the JPX Japan Exchange Group, partnered with Mizuho, Nomura, and Digital Asset to launch a concept proof-of-concept project based on the Canton network. The project will test the feasibility of Japanese government bonds as digital collateral, with the aim of improving liquidity and management efficiency in financial markets, and ensuring it does not conflict with existing regulations. The initiative also covers cross-border trading scenarios, signaling the application potential of Japanese government bonds in the digital asset space.

Vitalik Buterin presented Ethereum's five-year roadmap, focusing on quantum security and scalability. Key goals include increasing gas limits, implementing Zero Knowledge Proofs, and enhancing transaction confirmation times by 2028, despite challenges with quantum-resistant signatures.

Nexchain introduced Smart Actions, a suite of intelligent modules designed to transform blockchain networks from manual, reactive systems into autonomous and self-optimizing environments, according to an announcement on April 18, 2026. The product reflects the company's commitment to building

The Hong Kong Securities and Futures Commission will issue two guidance circulars for tokenized products in 2026, covering primary-market subscription and redemption and secondary-market trading requirements, respectively. The circulars will clearly define the responsibilities of product providers, liquidity requirements, and fair pricing mechanisms. The new regulatory framework will affect how the industry operates and will create new business opportunities for compliance lawyers, forming a template for tokenized finance regulation in the Asia-Pacific region.

World has launched an upgraded World ID protocol for secure digital verification in various sectors. It enhances privacy and supports AI applications while managing user identities across 160 countries, verifying nearly 18 million individuals.

Cobo has launched the Cobo Agentic Wallet, enabling AI agents to conduct on-chain transactions under user-defined controls. Utilizing Multi-Party Computation for security and incorporating Pact and Recipes protocols, it supports various operational modes for diverse risk levels.

Pi Network has issued an official notice to node operators, requiring them to complete the mandatory upgrade of the agreement version 22.1 (v22.1) by April 27, 2026; otherwise, they face the risk of their nodes being cut off from network connectivity. According to a Pi Network announcement, this upgrade must be carried out in strict version order. Currently, the system is running on version 21.2; the next step is to upgrade to v22.1, and no versions may be skipped.

Spark's strategy chief defended maintaining high borrowing rates on SparkLend despite user migration to Aave, citing current market conditions. Aave is experiencing liquidity issues, raising concerns about potential bad debt if ETH prices drop significantly.

Tether and the LayerZero team’s all-chain stablecoin project USDT0 posted on the X platform on April 20. The USDT0 transfer function has been restored to normal, and overall system integrity has not been affected. There has been no change in risk exposure, and all transactions in progress prior to the suspension have been settled. Previously, USDT0, for precautionary purposes, paused the USDT0 OFT cross-chain bridge infrastructure during the rsETH incident investigation.

Pi Network mandates node operators to upgrade to Protocol 22 by April 27, 2026, to ensure network connectivity. The upgrade enhances stability and prepares for future smart contract features. Delaying could result in disconnection and missed opportunities.

SGB enables instant USDC minting and redemption on Solana, improving cross-border payments with real-time settlement. Service targets institutions, removing intermediaries and supporting 24/7 liquidity and treasury management. Expansion plans include more stablecoins and retail access, li

USDT0 has resumed its cross-chain bridge operations with no integrity or risk issues, following a temporary suspension during the KelpDAO rsETH investigation. All prior transactions were safely settled, and USDT0 tokens remain fully backed.