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PropAMMs lower Solana trade costs, and public pool returns crash

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PropAMMs lower Solana trade costs, and public pool returns crash
A trader can get a better Solana (SOL) swap price while a passive pool depositor remains exposed to traders picking off stale quotes, and a Sept. 29 preprint measures that divide. For quiet-market SOL/USDC fills, propAMMs, pools controlled by professional operators, had a reference-relative execution cost proxy of 0.26 basis points versus 2.59 for public … Read more

XRP is becoming collateral for real loans and the first market is already dominated by whales

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XRP is becoming collateral for real loans and the first market is already dominated by whales
XRP is beginning to support live dollar borrowing on Ethereum, though the market remains heavily concentrated among a handful of borrowers. A Morpho market backed by FXRP, a tokenized representation of XRP, had about 7.18 million RLUSD in outstanding loans against 10.76 million FXRP as of Oct. 1. The three largest addresses accounted for almost … Read more

Treasury will let states file for stablecoin approval before finishing their rules

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Treasury will let states file for stablecoin approval before finishing their rules
Treasury’s Sept. 30 rule lets states preserve a path toward stablecoin-regime approval while their rules remain unfinished, by filing an initial certification on time and completing the work before substantive review. The interim final rule sets forms and review procedures for the Stablecoin Certification Review Committee, the federal body that reviews state stablecoin regimes. The … Read more

Three hidden flaws in Uniswap’s StablePair hook drain LP returns

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Three hidden flaws in Uniswap’s StablePair hook drain LP returns
Uniswap’s StablePair fee hook is designed to keep more of the value from rebalancing stablecoin pools with liquidity providers. Yet the rule deciding which trade counts as a correction depends on a configured reference rate. StablePair is a Uniswap v4 hook, a contract that changes a pool’s behavior. Its fee logic compares a cached pool … Read more

Aave’s $50 million lending plan could lose money without a single default

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Aave’s $50 million lending plan could lose money without a single default
Aave’s proposed institutional lending business would put crypto collateral on both sides of the financing chain. Institutions would pledge Bitcoin or Ether for dollar loans, while the organization governing the Aave lending protocol would initially borrow those dollars against a separate pool of its own crypto assets. Aave Labs’ September 30 clarification identifies an Aave … Read more

UK’s 2027 crypto rules let firms remove trust protection from Bitcoin lent for yield

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UK’s 2027 crypto rules let firms remove trust protection from Bitcoin lent for yield
UK crypto firms can now apply for authorization as of Sept. 30, bringing Bitcoin holders closer to a rulebook that will treat coins pledged as qualifying borrowing collateral differently from coins transferred into lending for yield. The distinction could matter when a platform fails: safeguarded assets and a contractual promise to return equivalent coins give … Read more

SEC changes token buyback guidance as spending hits $638M

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SEC changes token buyback guidance as spending hits $638M
The US Securities and Exchange Commission tightened its guidance for crypto token buybacks just three days after publishing it. On Sept. 25, SEC staff said a token issuer could announce a buyback without that announcement being treated as a promise to manage the token’s value, as long as the crypto system was already functional. On … Read more