Autor: ForaDoPadrao

DeFi

GENIUS Act: Blockchain Association Seeks Clearer DeFi, Stablecoin Rules

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The Blockchain Association has submitted a 26-page comment letter urging the U.S. Treasury to clarify how its proposed GENIUS Act rules would apply to decentralized finance, stablecoin trading platforms and foreign-issued payment tokens. Summary Blockchain Association filed a 26-page response seeking clearer Treasury rules for stablecoin intermediaries and decentralized infrastructure. The group wants ordinary secondary-market trading excluded from liability for knowingly participating in unlawful stablecoin issuance. Foreign stablecoin checks should rely on official regulatory records instead of extensive investigations, the association argues. Permissionless protocols should not face new wallet identification obligations when counterparties’ locations cannot reasonably be determined. Treasury’s October…

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DeFi

PayPal’s new platform lets anyone issue a dollar backed by a dollar

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MoonPay issues the token. It is backed by PYUSD. PYUSD is issued by Paxos and backed by actual dollars and Treasuries. Count the layers: there are two, and the law Congress passed last year describes one. Summary PayPal, M0, and MoonPay launched PYUSDx on September 9, a platform letting any business issue an application-specific stablecoin backed by PayPal USD. Three issuers are live at launch, Saturn, Concrete, and Cap, which the companies say have collectively processed more than $100 million, with USD.AI and Fairblock expected next. The structure has two layers: PYUSD is issued by Paxos Trust Company, a federally…

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DeFi

Pi Network ships Protocol 27 on a network with 14 million users and zero DeFi

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The September 15 upgrade brings smart contracts, an AMM DEX, and RPC infrastructure to a chain that has never processed a single swap. Seven years of mobile mining come down to whether anyone builds on the other side. Summary Protocol 27 activates on Pi mainnet September 15, delivering smart contract authentication, an AMM DEX module, and public RPC server infrastructure to a chain whose total DeFi TVL is currently zero dollars. Only 16.6 million of Pi’s 60 million engaged Pioneers have completed migration to mainnet, a 27.6% conversion rate that leaves nearly three quarters of the network’s claimed user base…

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DeFi

Cronos rolled back its own chain to undo a $75 million hack. that should terrify you.

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Cronos validators erased 10,000 blocks to reverse the Tectonic exploit, saving $69 million in frozen assets while sparking a fierce debate about whether a blockchain that can be rewound on command deserves to call itself one. Summary Cronos validators halted block production on Aug. 30, rolled back more than 10,000 blocks and restored the chain to its pre-exploit state, erasing roughly two hours of transaction history for every user on the network. The Tectonic attacker pumped TONIC 100x in 20 minutes using roughly $600,000, supplied 364.6 trillion inflated tokens as collateral and borrowed approximately $75 million from the lending protocol.…

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DeFi

What is Chainlink and how does the LINK oracle network work?

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Summary Chainlink is a decentralized oracle network that feeds external data, such as asset prices, weather readings, and economic indicators, into blockchain smart contracts that cannot access that information on their own. The network secures approximately $33.1 billion in total value across 505 protocols, making it the dominant oracle provider by a wide margin over competitors such as Chronicle, RedStone, and Pyth. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) connects more than 70 blockchains and has processed over $18 billion in cross-chain transfer volume, with adoption from Swift’s network of 11,500 member banks. The LINK token has a fixed supply of one…

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