Project Progress

Gate News message, April 8, SBI Ripple Asia has completed development of a token issuance platform based on the XRP Ledger, and has registered in Japan as a prepaid payment instrument issuer. The platform enables businesses to issue tokenized payment instruments.

Gate News, April 8, Aave officially stated that during the security-first growth phase, Aave V4’s deposit volume has already exceeded 10 million US dollars. As the system gradually matures, the supply and borrowing limits will be increased step by step.

SBI Ripple Asia announced that its token issuance platform based on the XRP Ledger has officially launched, marking an important application of blockchain in compliant financial services. The platform enables businesses to manage tokens directly on-chain and complies with regulatory requirements, improving payment and loyalty mechanisms. In the future, SBI will also optimize cross-border payments between Japan and Korea, driving XRPL’s adoption in the real economy.

World Liberty Financial borrowed more than $50 million in stablecoins on the Dolomite platform in the short term, drawing attention from the DeFi market. WLFI deposited large amounts of governance tokens as collateral, causing the liquidity pool utilization rate to exceed 100%, leaving liquidity nearly exhausted and pushing interest rates sharply higher. Analysis suggests this move could be intended to meet liquidity demand or to increase on-chain activity; investors should carefully assess the risks.

Pi Network is testing its Launchpad functionality, introducing a “12-grid” token distribution system where users can obtain and verify tokens by subscribing to projects. Test results show the system is stable and supports future ecosystem development. Although it is still on the test network, it has already laid the groundwork for the project’s token distribution and smart contract applications. Overall, the project is moving toward a complete blockchain ecosystem.

AgentPay, launched by Alchemy, is designed to address interoperability issues between AI payment systems and provides a unified interface for multiple payment protocols. By simplifying payment integration through an API entry point, the tool enhances system security and scalability, promotes the fusion of AI with crypto payments, and helps drive the development of decentralized payment networks.

Several Swiss financial institutions jointly launched a Swiss franc stablecoin sandbox test, aiming to build a blockchain-based digital settlement layer and promote stablecoin payments and asset transfers. This project is subject to regulation and will continue until 2026, to accumulate experience for future commercialization. This move strengthens Switzerland’s competitive edge in the digitization of finance and indicates that the global financial system is evolving toward “on-chain” development.

Cardano launches the Orion Fund in 2026, releasing 50 million ADA and shifting to an investment-driven expansion strategy. The fund size is $80 million, with the goal of activating Bitcoin liquidity, and the overall ecosystem expansion relies on the DeFi sector. At the same time, Cardano’s on-chain TVL target is $3 billion; stablecoin liquidity and real demand are key challenges.

Ripple expects on-chain stablecoin trading volume to reach $330k at the Tokyo XRP Conference, emphasizing that stablecoins are evolving from auxiliary tools into liquidity infrastructure. As a bridge connecting traditional and digital finance, Ripple is helping bring stablecoins such as RLUSD to market and accelerating institutional adoption. With Japan’s regulatory environment being clear, it plays a key role in promoting the growth of the XRP ecosystem. If stablecoins achieve high trading volumes, it will change the way capital flows and how cross-border payments operate; XRP’s future price action will depend on institutional adoption and the growth of real trading demand.

Biconomy and the Ethereum Foundation launch the ERC-8211 smart batch processing standard to address static limitations in smart contract execution, support dynamic parameter adjustments, and enhance the execution capabilities of AI agents and complex DeFi workflows.

Pi Network has announced its new custodial smart treasury system, designed to securely hold funds and support a variety of trading needs such as NFTs, token transfers, and DeFi applications. The system manages the transaction flow through four on-chain state management mechanisms to ensure transparency and automation. Before the official launch, it will need to complete state machine definition and security audits; no specific date has been announced yet.

AVAX One announced it will develop a 10-megawatt artificial intelligence data center in Alberta, Canada, and purchase 220 Bitmain Antminer S21 Pro mining rigs to expand its Bitcoin mining business, while also advancing digital asset management and its Avalanche ecosystem plans.

Seamless Protocol announced on June 30 that it will shut down, because it has been unable to find a product-market fit for leveraged tokens, facing liquidity challenges and a lack of sustainable revenue. Users must withdraw their assets before the deadline; afterward, only manual interaction will be possible. After the shutdown, the remaining DAO treasury assets will be distributed to SEAM holders according to the governance proposal.

Drift Protocol is developing a recovery plan to stabilize the situation and protect affected users, and to participate in the STRIDE security program by the Solana Foundation. This attack was orchestrated by a North Korean intelligence organization named AppleJeus, involving social engineering and technical infiltration, resulting in an estimated loss of about $285 million in funds, highlighting that the DeFi ecosystem faces major security challenges.

Gate News update: On April 8, according to the ADI Predictstreet official website, the prediction market platform ADI Predictstreet will go live officially on April 9. Previously, the platform had reached a multi-year cooperation agreement with FIFA, becoming the official prediction market partner for the 2026 World Cup.

Gate News update: On April 8, Drift Protocol posted an update on the incident response process for the hack. Drift said that it is currently actively working with asymmetric research and OtterSec to develop a coordinated and aligned recovery plan. At this stage, the primary focus is to stabilize the situation and provide protocol-level assurances for all affected users and partners. In addition, Drift will participate in a security mechanism under the Solana Foundation.

The decentralized exchange aggregator Jupiter launched a Token Verification API (VRFD) on April 8, allowing developers to implement programmatic verification during token creation. The API uses a three-step process; developers must burn 1,000 JUP tokens to submit a verification request, and it requires no Gas fees. The initiative aims to become the standard foundational infrastructure for Solana projects.

Sky Governance submitted two upgrade proposals on April 7, aiming to strengthen the protocol’s capital protection by implementing a stronger solvency-capability buffer and a sustainable staking rewards model, improving long-term stability and focusing on credibility rather than short-term returns.

Gate News message, April 8, DeepSeek’s website and app launched two new modes early this morning. Among them, the Quick mode is for everyday conversation scenarios, providing instant responses; the Expert mode is designed for complex problems and supports deep-thinking functionality, but it requires waiting during peak hours and does not support attachment or voice upload.

Base Chain DeFi lending protocol Seamless Protocol announced its shutdown, operating for more than two and a half years. Users need to withdraw their assets before June 30, 2026. The shutdown is due to the leverage token failing to find product-market fit, along with a lack of liquidity and sustainable revenue. The team will submit a proposal to distribute the remaining assets to SEAM token holders.