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NFT

NFTs are unique digital identifiers recorded on a blockchain that certify ownership and authenticity of a specific asset. Moving past the "PFP" craze, 2026 NFTs emphasize utility, representing everything from IP rights and digital fashion to RWA titles and event ticketing. This tag explores the technical standards of digital ownership, the growth of NFT marketplaces, and the integration of non-fungible tech into the broader Creator Economy and enterprise solutions.

12610 Articles
Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
Navigating NFTs and Intellectual Property Law

Navigating NFTs and Intellectual Property Law

The post Navigating NFTs and Intellectual Property Law appeared on BitcoinEthereumNews.com. Law and Ledger is a news segment focusing on crypto legal news, brought to you by Kelman Law – A law firm focused on digital asset commerce. The following opinion editorial was written by Alex Forehand and Michael Handelsman for Kelman.Law. NFTs, Intellectual Property, and the Legal Challenges of AI-Generated Assets As non-fungible tokens (NFTs) […] Source: https://news.bitcoin.com/navigating-nfts-and-intellectual-property-law/

Author: BitcoinEthereumNews

2025/09/04

Tangem Integrates WalletConnect v5.27 for Safer NFT and DeFi Experience

Tangem Integrates WalletConnect v5.27 for Safer NFT and DeFi Experience

Tangem, an advanced hardware wallet solution provider, has collaborated with WalletConnect, a next-gen connectivity layer. The main purpose of this partnership is to provide an intuitive and secure Web3 experience. As Tangem mentioned in its official announcement, the development attempts to streamline Wallet-to-dApp interactions, apart from guaranteeing user safety while exploring NFTs, decentralized finance (DeFi), and blockchain applications. Hence, the joint effort endeavors to build trust, accelerate Web3 adoption, and improve security. WalletConnect @Tangem Human-readable. Safe. Smart.The way wallets should be. https://t.co/ufcpxRIe6k— WalletConnect (@WalletConnect) September 3, 2025 Tangem and WalletConnect Partner to Bring Safer and Intuitive Wallet-to-dApp Interactions In partnership with WalletConnect, Tangem focuses on offering a simplified interaction between wallets and dApps in a secure environment. In addition to this, the exclusive v5.27 update of the Tangem app incorporates a redesigned WalletConnect interface, offering a relatively secure and seamless connection to top Apps through deep links or QR codes. This ensures the secure storage of private keys on Tangem-based hardware wallets. One of the groundbreaking features of the respective upgrade is transfer simulation, as it permits consumers to witness a transaction’s effects before even signing it. With this remarkable feature, the consumers can validate token movements, balance changes, and smart contract calls. With this, they can substantially minimize the risk of malicious or hidden operations. Apart from that, scam detection led by Blockaid verifies dApps, cautioning clients about likely fraudulent or harmful platforms ahead of establishment of connection. By merging the safe hardware wallet of Tangem with the open protocol of WalletConnect, the partnership unlocks a broad range of dApps, including PancakeSwap, Raydium, Uniswap, and OpenSea, among others. Additionally, the integration offers a human-readable transfer preview and robust verification methods like Verified Transactions (VTX). Simultaneously, the development also introduces Know Your dApps (KYDA) security layer for cross-checking dApp addresses as well as domains against the risk analysis and blacklist systems of Blockaid. How Does This Partnership Benefit Developers? When it comes to developers, the partnership between Tangem and WalletConnect provides huge benefits. Thus, the developers can leverage the improved interface of WalletConnect within Tangem in a relatively reliable setting for the development and testing of dApps for decreased risk of fraudulent interactions and secure user flows. As a result of this, the developers can be completely focused on building cutting-edge Web3 solutions with consumer-friendly and secure wallet infrastructure to drive wider adoption.

Author: Coinstats

2025/09/04

Best Altcoins To Buy As Ethereum Gas Fees Surge In 2025

Best Altcoins To Buy As Ethereum Gas Fees Surge In 2025

The post Best Altcoins To Buy As Ethereum Gas Fees Surge In 2025 appeared on BitcoinEthereumNews.com. The cryptocurrency market never sleeps, and traders are constantly on the lookout for the best altcoins to buy during market shifts. Recently, Ethereum (ETH) has once again taken centre stage after gas fees soared dramatically. While such fee surges can temporarily slow activity on Ethereum, they often open up opportunities in the broader altcoin market — especially for projects offering faster, cheaper, and more scalable solutions. As a result, MAGACOIN FINANCE has now become traders’ favourite with its strong upside potential. Ethereum Gas Fees Surge: What It Means for Altcoins According to @MilkRoadDaily, Ethereum gas fees jumped from roughly 0.20 Gwei to 2.54 Gwei on September 1, 2025 — a staggering 1,170% increase. This surge coincided with the highly anticipated launch of the Trump-backed WLFI token, which was identified as the catalyst behind the spike. Elevated gas fees mean that transactions on the Ethereum mainnet have become far more expensive, impacting both traders and DeFi users. For traders, the sudden rise to 2.54 Gwei highlights just how congested Ethereum can become during peak demand. Under normal market conditions, Ethereum gas fees hover around 0.20 Gwei, but as new tokens like WLFI attract heavy on-chain activity, the network becomes costlier to use. On-chain data also reveals that Ethereum’s trading volume skyrocketed as it now faces increased volatility due to ETF buzz around immediate Fib levels. This trend underscores why investors are increasingly exploring Ethereum alternatives and Layer-2 solutions — a space where new altcoins with high potential are making waves. Best Altcoins to Buy in 2025 The rise in Ethereum fees not only impacts ETH but also strengthens the case for holding diversified altcoins. When fees rise, DEX execution costs increase, pushing traders toward chains and projects where transactions are faster and cheaper. Solana (SOL) Solana is known for its lightning-fast…

Author: BitcoinEthereumNews

2025/09/04

Avalanche activity driven by DEXs, trading bots, whale memecoin speculation

Avalanche activity driven by DEXs, trading bots, whale memecoin speculation

The post Avalanche activity driven by DEXs, trading bots, whale memecoin speculation appeared on BitcoinEthereumNews.com. Smart contract blockchain Avalanche recorded a consistent surge in blockchain activity, as analysts pointed to growing decentralized trading activities and returning crypto whale speculation on the next emerging memecoin. Avalanche’s transaction growth surpassed all other blockchains the past week, rising 66% to 11.9 million transactions across more than 181,000 active addresses, signaling growing investor mindshare focusing on the blockchain. The milestone occurred after a “landmark effort” of the US Department of Commerce, which adopted Avalanche, along with nine other public decentralized blockchains, to publish its real gross domestic product (GDP), Cointelegraph reported on Friday. Despite Avalanche’s growing institutional and governmental adoption, we “cannot at this point attribute this to the US Government adopting Avalanche for its GDP data,” said Nicolai Sondergaard, research analyst at the Nansen crypto intelligence platform. The network’s increasing blockchain activity was mainly driven by decentralized finance (DeFi) traders, miner extractable value (MEV) trading bots and whales speculating on the next big memecoin launch, the analyst told Cointelegraph, adding: “The transaction surge is driven by: 60% DeFi protocol activity (Trader Joe, Aave, Benqi), 25% Automated trading bots and MEV, and 10% Whale trading and memecoin speculation […].” The research analyst explained that the additional 5% of blockchain activity was attributed to blockchain gaming and non-fungible tokens (NFTs). Avalanche, top 5 entities by blockchain users, 180 days. Source: Nansen Related: Avalanche, Toyota Blockchain designing autonomous robotaxi infrastructure DEX trading, “high-balance” whales drove the majority of Avalanche blockchain activity: Nansen Cryptocurrency trading on decentralized exchanges drove the lion’s share of Avalanche’s blockchain activity, with Trader Joe DEX as the “primary driver,” which saw over $333 million worth of Avalanche Wrapped Ether (WETH.e) volume during the past seven days. “Key players” driving this activity included traders on Nansen’s top 100 leaderboard, who made multiple six-figure trades, Sondergaard said. Aave lending…

Author: BitcoinEthereumNews

2025/09/04

Solana Chain Carnival: Can Pump.fun's CCM Reshape the Creator Economy?

Solana Chain Carnival: Can Pump.fun's CCM Reshape the Creator Economy?

Yesterday, the Solana chain was quite lively. First, $CARD and $ZARD led the on-chain RWA craze for Pokémon cards, and then the well-known KOL HIM led the CS2 skin market $HUCH, and the market value also soared. It seems that the concept of ICM is gaining momentum on Solana. At the same time, PumpFun released a version update video, launched Project Ascend and Dynamic Fees V1, and proposed a new concept Creator Capital Markets (CCM). At first glance, it seems that the product ideas of Heaven and Bags are not much different from those of some time ago. This also triggered the return of a number of project developers, including the long-banned Memecoin trader Mitch, who launched his own live-streaming token on Pumpfun, which saw its market value exceed $42 million within three hours. This series of activity led to a general rise in other live-streaming tokens, while Pumpfun's token creation and graduation rates both increased by over 40%. Pumpfun’s ambition this time seems to be not just to have ICM, but to use the concept of CCM to make pumpfun a more extreme version of Twitch. Project Ascend Innovation According to an official announcement from Pump.fun, the core change introduced by Project Ascend is the Dynamic Fees V1 system. This new tiered creator fee structure radically changes the previous fixed-rate model. Under the previous system, creators received the same percentage of transaction fees regardless of their token's market capitalization. Now, the system introduces a dynamic fee rate tied to market capitalization—tokens with higher market capitalization receive lower creator fees, while smaller projects continue to contribute higher fees. The rationale behind this design is to encourage creators to focus on the long-term growth of their tokens, rather than short-term cashing out. PumpSwap transaction fees and content creator earnings for tokens with different market capitalizations Officials claim that this update increases creators' potential earnings tenfold. For creators who successfully manage the token ecosystem, this means they no longer need to sell their holdings to profit, instead earning a steady income through a consistent share of transaction fees. This paradigm shift is a key step in Pump.fun's efforts to address the widespread "pump and dump" problem within the memecoin ecosystem. Dynamic Fees V1 applies to all PumpSwap tokens, both newly issued and existing, while maintaining the same protocol and liquidity provider fee distribution. For "abandoned" projects whose creators have vanished, fees will flow to the community. CTO projects can apply to receive creator fees, and Pump.fun promises a significantly faster approval process. Mitch's Return: A Small-Town Story from Broke to Millionaire After Pump.fun announced its update, the first major returnee was Mitch (@MitchOnSOL_), a legendary trader who was banned multiple times by Platform X. His story is well-known in the Solana memecoin community. He entered the crypto space in 2022 and initially profited through contract trading, but lost nearly all his funds due to an addiction to online blackjack. By 2023, he had only 1 SOL left, but he achieved a 100x return by buying Milady. He then invested in popular memecoins like Retardio, pushing his assets to a peak of $8 million. Mitch's success is as notable as his controversial nature within the community. Community members like TMtheOG accused him of being an "insider" of the Pump.fun team, claiming he laundered millions of dollars through soft rug pulls, leading to his official ban from X. However, supporters like imperooterxbt defended him, arguing that he was one of the few influencers who openly purchased high-market-cap tokens and promoted them like a regular community member, rather than solely promoting insider projects he held. The reason for his ban was extortion from X. While this was only Mitch's side of the story, some supportive community members still voiced their support, chanting "Free Mitch." This time, Mitch launched his own creator coin, $MITCH. He personally purchased 80% of the supply, stating that neither he would lock it up nor sell it, but would only give it away in future livestreams, with only 20% ultimately entering circulation. In his announcement, he emphasized that this wasn't a charity, but rather a "personal experiment for fun." However, the striking $24 million in his address, God.SOL, made this experiment truly "entertaining" for him. MITCH quickly launched MOONSHOT after its launch, which also allowed its market value to exceed 42 million US dollars in a short period of time. However, if calculated based on the "circulating market value", the highest market value was only about 8.4 million US dollars. Rasmr's Livestreaming Empire: From Researcher to Memecoin Influencer Equally garnering attention alongside Mitch is blockchain researcher rasmr_eth (@rasmr_eth). As a core member of the probablynothing community, he joins well-known streamer ThreadGuy, former DEGODS founder Frank Degod, and OGshoots. Some of these individuals form an insider group known as the "Hookah Gang." They have issued numerous high-market-cap tokens, many of which are soft-coins, a source of controversy. Rasmr has been active in the crypto space since 2011 and currently has over 117,000 followers. His influence lies not only in his research and analysis, but also in the unique community culture he has built through live streaming. Rasmr has called other creators during live broadcasts to discuss memecoin opportunities (sometimes with insider information), and these "classic meme moments" often become hot topics in the community. He streams on his Twitch channel and pumpfun, covering trading demonstrations, blockchain discussions, and even livestreams of games like Path of Exile 2. His posts demonstrate a strong sense of community, and he often engages in memecoin fervor, from taking Muard out on the street to force-sell Chillhouse to people, to visiting traditional fund companies to promote Fartcoin. While quite nonsensical, it does, in some ways, introduce more people to memecoins. The live broadcast token $rasmr he previously launched currently has a market value fluctuating between 5 and 7 million US dollars, and he also holds 80% of the token. Old School Trader Gainzy Gainzy started to get involved in crypto during the 2017 crypto bull market. At that time, he participated in multiple projects that allowed him to obtain a 10-fold return on his assets. However, with the collapse of FTX, he eventually lost most of his assets due to the bankruptcy of the platform. He considers the "hellish" experience of the 2018-2019 bear market trough a valuable lesson, often sharing it in his livestreams as CT history (Crypto Twitter History). He began by scalping, excelling at profiting in volatile markets. He believes that long-term holdings are generally risky due to the influence of the DXY (US Dollar Index), bond yields, and Federal Reserve announcements, which is why he also enjoys trading Memecoins. He represents a different approach to livestreaming. Compared to other streamers, he's more of a "boomer" (old-school) type. His livestreams are pretty regular, starting at 10 a.m. every day, sometimes for a few minutes, sometimes for hours, just like a regular workday. Sometimes he shares technical analysis and trading strategies, sometimes he discusses the market, and sometimes he just gambles with friends or shares his personal life. He self-deprecatingly calls himself "Washed," saying most of his followers come from the early cycle (2017-2022), when algorithms were unfavorable to new traffic. He emphasized the essence of the streamer identity: "Most are destined to fail (NPCs or boring people), and only a few main characters can stand out." Interestingly, although he issued his own live streaming token, he distanced himself from others' live streaming tokens. He stated that while he recognizes their potential, in this sector, content quality is far more important than short-term profit. The price of his token GNZYSTRM has been rising steadily since it was launched in April, basically fluctuating between 2 million and 5 million market capitalization. BASEDD BASEDD was launched by Jacky and others in early 2024, initially focusing on NFT and memecoin projects in the Solana ecosystem. By 2025, it evolved into "BASEDD House", a content creation center focused on physical and virtual. In March 2025, they announced the Summer Content House program, selecting 7 creators through a "talent show" series, focusing on short videos, live broadcasts, vlogs, and cross-platform activations (such as Twitch, YouTube, Pump.fun). The program aims to break the "CT echo chamber" (Crypto Twitter echo chamber) and provide a viral content environment. In August and September 2025, the community entered Season 2 and relocated from Las Vegas to Los Angeles, becoming deeply involved in the explosive growth of the Pump.fun live streaming track. Currently, the market capitalization of its community token, $BASEDD, remains between $2 million and $5 million. While the community already has a token, several members also have their own "livestreaming tokens." GOON, run by @nevergoon100, for example, takes a more entertaining approach. GOON's livestreams are often filled with absurd and dramatic elements. While this style has been controversial, it has successfully attracted the attention of many young investors. Goon gave a child $200 worth of memecoin $USDUC during a live broadcast and asked him to download pumpfun Is CCM an innovation or just another speculation? The concept of Content Creator Markets (CCM) marks Pump.fun's attempt to build a radical new creator economy model. Unlike traditional content creation or livestreaming platforms like Twitch, CCM allows creators' influence to be directly represented and traded through tokens. Viewers no longer rely solely on tips or subscriptions to support creators; instead, they can share in the benefits of their success by purchasing tokens. However, this isn't PumpFun's first attempt at this. Since its introduction in late 2024, Pump.fun's livestreaming feature has been controversial for its lack of regulation, allowing users to post inappropriate content (drug use, pornography, and extreme behavior). This has led to significant speculation and potential market manipulation, resulting in significant losses for many participants. Maintaining market order while encouraging innovation has become Pump.fun's biggest challenge. The community's reaction to CCM was sharply divided. Threadguy, in his post, argued that the era of "influence being directly exchanged for money" had arrived. However, a significant number of critics argued that this was just another speculative bubble, with retail investors ultimately the victims. Is this Pump.fun update a significant step forward in the evolution of the memecoin ecosystem, or another bubble about to burst? The answer will likely be determined by the market and time. But what is certain is that in the world of Web3, the relationship between creators and supporters is being redefined.

Author: PANews

2025/09/04

Moca Network Unveils MocaPortfolio: $20M Token Distribution for MOCA Coin and NFT Holders

Moca Network Unveils MocaPortfolio: $20M Token Distribution for MOCA Coin and NFT Holders

The post Moca Network Unveils MocaPortfolio: $20M Token Distribution for MOCA Coin and NFT Holders appeared on BitcoinEthereumNews.com. Felix Pinkston Sep 03, 2025 13:34 Moca Network, part of Animoca Brands, launches MocaPortfolio offering $20 million in token allocations to MOCA Coin and Mocaverse NFT holders, enhancing community engagement and financial literacy. Moca Network Introduces MocaPortfolio Moca Network, a key initiative by Animoca Brands, has announced the launch of MocaPortfolio, a novel platform designed to provide its community with token allocations valued at $20 million. This launch is exclusive to holders of MOCA Coin and Mocaverse NFTs, according to Animoca Brands. Empowering Community Engagement The MocaPortfolio initiative marks a shift from traditional airdrop methods, offering a structured opportunity for community members to engage with Animoca Brands’ investment and partnership projects. Participants can access vested token allocations, fostering long-term engagement and financial literacy within the community. Statements from Animoca Brands Leadership Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized the innovative nature of MocaPortfolio, stating that it represents an evolution in community rewards. This initiative aims to share growth prospects across the Web3 landscape with the MOCA community. Kenneth Shek, project lead of Moca Network, highlighted that MocaPortfolio aligns with the company’s mission to build a sustainable digital identity ecosystem, providing a new layer of value for MOCA Coin through active participation. Upcoming Developments and Participation The first registration event under MocaPortfolio is set for Q4 2025, featuring the Magic Eden token (ME). Additional tokens from Animoca Brands’ portfolio will follow. Community members can stake MOCA Coin and Mocaverse NFTs on the Mocaverse staking platform to accumulate Staking Power, enhancing their benefits and participation in the upcoming events. About Moca Network and Animoca Brands Moca Network is at the forefront of developing a chain-agnostic decentralized identity network, leveraging Animoca Brands’ extensive ecosystem of over 570 portfolio companies. As a utility…

Author: BitcoinEthereumNews

2025/09/04

Cardano Developer IOG Dispels ‘FUD’ with Major Audit

Cardano Developer IOG Dispels ‘FUD’ with Major Audit

The post Cardano Developer IOG Dispels ‘FUD’ with Major Audit appeared on BitcoinEthereumNews.com. The crux of major Cardano controversy What the audit has found  Cardano co-founder Charles Hoskinson says that he is “waiting for the apologies” following the publication of an audit of Cardano’s redemption process.  The audit, which has involved accounting firm BDO and law firm McDermott Will & Emery, has found no evidence of fraud or misuse, thus debunking the latest “FUD” narrative related to the popular altcoin. The crux of major Cardano controversy In May, NFT artist Masato Alexander accused Hoskinson of manipulating the Cardano ledger with the help of a “genesis key” in order to seize a total of 318 million unredeemed ADA tokens. The tokens were valued at roughly $600 million.  The ADA tokens were initially being sold as digital vouchers during the presale that took place in Japan. Early buyers were then able to redeem their tokens with the help of digital vouchers.  Cardano insiders were accused of stealing or otherwise misusing ADA that should have been allocated to voucher holders. Moreover, blockchain upgrades allegedly made it difficult to redeem the vouchers.  Hoskinson, however, vehemently denied misusing the tokens in question, claiming that 99.8% of the ADA vouchers were redeemed. He called the damning accusations damaging and deeply personal. The remaining 0.2% were then redirected to the treasury.  You Might Also Like The Cardano founder then announced an independent audit that was meant to review the transactions.  Now, Hoskison wants those spreading misinformation to apologize after being vindicated by the audit.  What the audit has found  Joel Telpner, chief legal officer at Input Output, says that the forensic audit has determined that the aforementioned accusations did not actually have any basis.  It has been found that a total of 14,282 vouchers (99.2%) ended up being redeemed, representing 25.85 billion ADA tokens. Moreover, only 6.1% of buyers were…

Author: BitcoinEthereumNews

2025/09/04

Ark Invest: The Birth of a DeFi Super App

Ark Invest: The Birth of a DeFi Super App

By Lorenzo Valente As the crypto market matures, investors are looking for clues from past tech booms to predict the next big trend or inflection point. Historically, digital assets have been difficult to compare to previous technology cycles, making it difficult for users, developers, and investors to predict their long-term trajectory. This dynamic is changing. According to our research, the “application layer” in the crypto space is evolving, much like the unbundling and rebundling cycles experienced by SaaS (Software as a Service) and FinTech platforms. In this article, I’ll describe how the unbundling and rebundling cycle seen in SaaS and Fintech plays out in DeFi (decentralized finance) and crypto applications. The pattern evolves as follows: The concept of "Composability" is key to understanding the unbundling and rebundling cycle. This is an analytical term used in the fintech and crypto communities to refer to the ability of financial or decentralized applications and services—particularly at the application layer—to seamlessly interact, integrate, and build upon each other like Lego blocks. With this concept at the core, we describe the shift in product structure in the following two subsections. From Verticalization to Modularization: The Great Unbundling In 2010, Spark Capital’s Andrew Parker published a blog post outlining how dozens of startups were capitalizing on the unbundling opportunity presented by Craigslist, the then-horizontal internet marketplace offering everything from apartments and gig work to merchandise sales, as shown in the image below. Source: Parker 2010. For illustrative purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any specific security. Parker concludes that many successful companies—Airbnb, Uber, GitHub, Lyft—started by focusing on and verticalizing a small part of Craigslist's broad functionality and dramatically improving it. This trend ushered in the first major phase of "marketplace unbundling," during which Craigslist's fully bundled, multi-purpose marketplace gave way to single-purpose apps. The newcomers didn't just improve Craigslist's user experience (UX)—they redefined it. In other words, unbundling broke a broad-based platform into narrowly defined, autonomous verticals, disrupting Craigslist by serving users in unique ways. What made that wave of unbundling possible? Fundamental shifts in technology infrastructure, including advances in APIs (application programming interfaces), cloud computing, mobile user experiences, and embedded payments, lowered the barrier to entry for building focused applications with world-class user experiences. The same unbundling is also evolving in the banking industry. For decades, banks have offered a bundled set of financial services—everything from savings and loans to insurance—under a single brand and app. However, over the past decade, fintech startups have been precisely dismantling this bundle, each focusing on a specific vertical. Traditional banking bundles include: Payments and Remittances Checking and savings accounts Interest-bearing products Budgeting and financial planning Loans and Credit Investment and wealth management Insurance Credit and debit cards Over the past decade, the banking bundle has systematically unbundled into a series of venture-backed fintech companies, many of which are now unicorns, decacorns, or near-centacorns: Payments and remittances: PayPal, Venmo, Revolut, Stripe Bank accounts: Chime, N26, Monzo, SoFi Savings and Earnings: Marcus, Ally Bank Personal finance and budgeting: Mint, Truebill, Plum Loans and credit: Klarna, Upstart, Cash App, Affirm Investing and Wealth Management: Robinhood, eToro, Coinbase Insurance: Lemonade, Root, Hippo Card and expense management: Brex, Ramp, Marqeta Each company focuses on a service it can hone and deliver better than the incumbent, combining its skill set with new technology levers and distribution models to offer growth-oriented niche financial services in a modular manner. In both SaaS and FinTech, unbundling is not only disrupting incumbents but also creating entirely new categories, ultimately expanding the total addressable market (TAM). From modularity back to bundling: The Great Rebundling Airbnb recently launched its new Services & Experiences app and redesigned it to allow users to not only book accommodations but also explore and purchase add-on services such as museum visits, food tours, dining experiences, gallery walks, fitness classes, and beauty treatments. Airbnb, once a peer-to-peer accommodations marketplace, is evolving into a vacation superapp—rebundling travel, lifestyle, and local services into a single, cohesive platform. Furthermore, over the past two years, the company has expanded its product offerings beyond home rentals and is now integrating payments, travel insurance, local guides, concierge-style tools, and curated experiences into its core booking service. Robinhood is undergoing a similar transformation. The company, which disrupted the brokerage industry with commission-free stock trading, is now aggressively expanding into a full-stack financial platform and is re-bundling many of the verticals previously unbundled by fintech startups. Over the past two years, Robinhood has: Launch of payment and cash management features (Robinhood Cash Card) Increase cryptocurrency trading Launch of retirement accounts Launch of margin investing and credit cards Acquired Pluto, an AI-powered research and wealth advisory platform The moves suggest that Robinhood, like Airbnb, is bundling together previously fragmented services to build a comprehensive financial super app. By controlling more of the financial stack—savings, investing, payments, lending, and advice—Robinhood is reinventing itself from a brokerage to a full-service consumer finance platform. Our research shows that this unbundling and rebundling dynamic is impacting the crypto industry. In the remainder of this article, we provide two case studies: Uniswap and Aave. DeFi’s Unbundling and Rebundling Cycle: Two Case Studies Case Study 1: Uniswap — From Monolithic AMM to Liquidity Lego and Back to a Trading Super App In 2018, Uniswap launched on Ethereum as a simple yet revolutionary automated market maker (AMM). In its early stages, Uniswap was a vertically integrated application: a small smart contract codebase with an official frontend hosted by its team. The core AMM functionality—swapping ERC-20 tokens in a constant product pool—existed within a single on-chain protocol. Users primarily accessed it through Uniswap's own web interface. This design proved highly successful, with Uniswap's cumulative on-chain trading volume exploding to over $1.5 trillion by mid-2023. With its tightly controlled technology stack, Uniswap provided a smooth user experience for token swaps, which guided the development of DeFi in its early days. At the time, Uniswap v1/v2 implemented all trading logic on-chain, requiring no external price oracles or off-chain order books. The protocol internally determined prices within a closed system, using its liquidity pool reserves (the x*y=k formula). The Uniswap team developed the primary user interface (app.uniswap.org) to interact directly with the Uniswap contracts. Early on, most users accessed Uniswap through this dedicated front-end, similar to a proprietary exchange portal. Beyond Ethereum itself, Uniswap does not rely on any other infrastructure. Liquidity providers and traders interact directly with Uniswap contracts, with no built-in external data feeds or plugin hooks. The system was simple but isolated. As DeFi expanded, Uniswap evolved into a composable liquidity "Lego" rather than a standalone application. The protocol's open, permissionless nature meant other projects could integrate Uniswap's pools and add layers. Uniswap Labs gradually relinquished control over parts of the stack, allowing external infrastructure and community-built features to play a greater role: Decentralized Exchange (DEX) Aggregators and Wallet Integrations: The majority of Uniswap's trading volume began flowing through external aggregators like the 0x API and 1inch, rather than through Uniswap's own interface. By the end of 2022, an estimated 85% of Uniswap's swap volume was routed through aggregators like 1inch as users sought the best prices across multiple exchanges. Wallets like MetaMask also integrated Uniswap liquidity into their swap functionality, allowing users to trade on Uniswap from their wallet applications. This external routing reduced reliance on Uniswap's native frontend and made AMMs more like a plug-and-play module in the DeFi stack. Oracles and Data Indexers: While Uniswap's contracts did not and still do not require price oracles to trade, the broader ecosystem built around Uniswap does. Other protocols use Uniswap's pool prices as on-chain oracles, and the Uniswap interface itself relies on external indexing services. For example, Uniswap's frontend uses subgraphs from The Graph to query pool data off-chain for a smoother user interface (UI) experience. Rather than building its own indexing nodes, Uniswap leverages community-driven data infrastructure—a modular approach that offloads the heavy lifting of data queries to specialized indexers. Multi-chain Deployment: During its modularization phase, Uniswap expanded beyond Ethereum to numerous blockchains and Rollups, including Polygon, Arbitrum, BSC, and Optimism. Uniswap's governance mandated the deployment of its core protocol on these networks, effectively treating each blockchain as a base-layer plugin for Uniswap's liquidity. This multi-chain strategy emphasizes Uniswap's composability: the protocol can exist on any Ethereum Virtual Machine (EVM)-compatible chain, rather than tying its fate to a single, vertically integrated environment. Recently, Uniswap has been moving back towards vertical integration, seemingly with the goal of capturing more of the user journey and optimizing the stack for its use cases. Key reintegration developments include: Native Mobile Wallet: In 2023, Uniswap released the Uniswap Wallet—a self-hosted mobile application—followed by a browser extension, allowing users to store tokens and interact directly with Uniswap products. The launch of the wallet was a significant step toward controlling the user interface layer, rather than ceding it to wallets like MetaMask. With its own wallet, Uniswap now vertically integrated user access, ensuring that swaps, browsing non-fungible tokens (NFTs), and other activities occurred within an environment it controlled and could potentially be routed to Uniswap liquidity. Integrated Aggregation (Uniswap X): Instead of relying on third-party aggregators to find the best prices, Uniswap also introduced Uniswap X, a built-in aggregation and trade execution layer. Using an open network of off-chain "fillers," Uniswap X sources liquidity from various AMMs and private market makers, then settles trades on-chain. As a result, Uniswap has transformed its interface into a one-stop trading portal that aggregates liquidity sources for the benefit of users—similar to the services provided by 1inch or Paraswap. By running its own aggregator protocol, Uniswap Labs has reintegrated this functionality, keeping users in-house while guaranteeing the best prices. Importantly, Uniswap X is integrated into the Uniswap web app itself—and potentially into the wallet in the future—so users no longer need to leave Uniswap for the aggregator. Application-Specific Chain (Unichain): In 2024, Uniswap announced its own Layer 2 blockchain—dubbed "Unichain"—as part of the Optimism Superchain. Taking vertical integration to the infrastructure level, Unichain is a custom rollup tailored for Uniswap and DeFi trading, aiming to reduce Uniswap user fees by approximately 95% and latency to approximately 250 milliseconds. Uniswap will control the blockchain environment in which its contracts operate, rather than operating as an application on another chain. By operating Unichain, Uniswap will be able to optimize everything from gas costs to maximum extractable value (MEV) mitigation for its exchange and introduce native protocol fee sharing with UNI holders. This full-circle transformation transforms Uniswap from an Ethereum-dependent decentralized application (dApp) to a vertically integrated platform with a proprietary UI, execution layer, and dedicated blockchain. Case Study 2: Aave — From P2P Lending Market to Multi-Chain Deployment and Back to a Credit Super App Aave's origins can be traced back to ETHLend in 2017, a self-contained lending application that gave way to a decentralized peer-to-peer lending marketplace, renamed Aave, in 2018. The team developed smart contracts for lending and provided an official web interface for user participation. During this phase, ETHLEND/Aave matched lenders and borrowers using an order book approach and handled everything from interest rate logic to loan matching. As it evolved toward a pooled lending model similar to Compound, Aave underwent vertical integration. The Aave v1 and v2 contracts on Ethereum incorporated innovations like flash loans—an in-protocol feature that allows for uncollateralized borrowing with repayments in the same transaction—as well as interest rate algorithms. Users primarily accessed the protocol through the Aave web dashboard. The protocol managed key functions, such as interest accrual and liquidations, internally, with minimal reliance on third-party services. In short, Aave's early design was a monolithic money market: a dApp with its own UI that handled deposits, loans, and liquidations in a single location. Aave is part of the broader DeFi symbiosis, integrating MakerDAO's DAI stablecoin as a key collateral and lending asset from the outset. In fact, in its incarnation as ETHLend, Aave launched simultaneously with Maker and immediately supported DAI, reflecting the tight coupling between those vertically integrated pioneers and demonstrating early on that no protocol is an island. Even in its "vertical" phase, Aave benefited from the product of another protocol—its stablecoin—to operate. As DeFi has grown, Aave has unbundled and adopted a modular architecture, outsourcing parts of its infrastructure and encouraging others to build on its platform. Several shifts illustrate Aave’s move toward composability and external dependencies: External Oracle Network: Rather than operating its own price feeds, Aave uses Chainlink's decentralized oracles to provide reliable asset prices for collateral valuation. Price oracles are crucial to any lending protocol, as they determine when loans become undercollateralized. Aave governance has selected Chainlink Price Feeds as the primary oracle source for most assets on aave.com, outsourcing pricing infrastructure to a specialized third-party network. While this modular approach improves security—for example, Chainlink aggregates many data sources—it also means Aave's stability relies on external services. Wallet and App Integration: Aave's lending pools have become the building blocks for numerous other dApp integrations. Portfolio managers and dashboards like Zapper and Zerion, DeFi automation tools like DeFi Saver, and yield optimizers all access Aave's contracts through its open software development kit (SDK). Users can deposit or borrow through third-party frontends that interface with Aave, but the official Aave interface is just one of many access points. Even DEX aggregators indirectly leverage Aave's flash loans for complex, multi-step trades executed by services like 1inch. By open-sourcing its design, Aave allows for composability: other protocols can integrate Aave's functionality—for example, using Aave flash loans within a Uniswap arbitrage bot—all coordinated by external aggregators. As a liquidity module rather than a standalone application, its composability expands Aave's influence in the DeFi ecosystem. Multi-chain deployment and isolated models: Similar to Uniswap, Aave is deployed on multiple networks—such as Polygon, Avalanche, Arbitrum, and Optimism—essentially cross-chain modularity. Aave v3 introduced features such as isolated markets for certain assets—architectural modularity—creating different risk parameters for each market, sometimes operating separately from the main pool. It also introduced permissioned variants, such as "Aave Arc" for Know Your Customer (KYC) institutions, which are conceptually independent "module instances" of Aave. These examples demonstrate Aave's flexibility to operate in a variety of environments, not just one integrated one. During this unbundling phase, Aave relies on a broader infrastructure stack: Chainlink oracles for data, The Graph for indexing, wallets and dashboards for user access, and tokens from other protocols—like Maker's DAI or Lido's staked ETH—as collateral. This modular approach increases Aave's composability and reduces the need to "reinvent the wheel." The tradeoff is a partial loss of control over those parts of the stack, and the risks associated with relying on external services. Lately, Aave has shown signs of returning to vertical integration by developing in-house versions of key components that it previously relied on others. For example, in 2023, Aave launched its own stablecoin, GHO. Historically, Aave has facilitated lending and borrowing of various assets, notably MakerDAO’s DAI stablecoin, which has scaled significantly on Aave. With GHO, Aave now has a native stablecoin on its platform that acts as a distribution channel for other protocol stablecoins. Like DAI, GHO is an overcollateralized, decentralized, USD-pegged stablecoin. Users can mint GHO with their deposits on Aave V3, which allows Aave to acquire a previously outsourced vertical part of the lending stack—stablecoin issuance. Therefore: Aave is an issuer of a stablecoin—not just a lending venue for existing stablecoins—and directly controls the parameters and revenue of the stablecoin. GHO is a competitor to DAI, so now Aave can recycle interest payments into its own ecosystem. GHO interest can benefit AAVE token stakers rather than indirectly increasing MakerDAO fees. The introduction of GHO also requires dedicated infrastructure. Aave has facilitators—including the main Aave pool—that can mint and burn GHO and set governance policies. By controlling this new layer of functionality, Aave has built an internal version of the MakerDAO product to serve its own community. In another notable move, Aave is leveraging Chainlink's Smart Value Routing (SVR), or a similar mechanism, to recapture MEV (maximum extractable value, similar to payment for order flow in stocks) for Aave users. Tighter coupling with the oracle layer to redirect arbitrage profits back into the protocol is blurring the line between the Aave platform and the underlying blockchain mechanisms. This move suggests Aave's interest in customizing even lower-level infrastructure, such as oracle behavior and MEV capture, for its own benefit. While Aave hasn't yet launched its own wallet or chain like Uniswap and others, its founder's other ventures suggest his goal is to build a self-sustaining ecosystem. For example, the Lens Protocol, a social network, could be integrated with Aave for social reputation-based finance. Architecturally, Aave is moving towards providing all key financial primitives: lending, stablecoins (GHO), and potentially decentralized social identity (Lens), rather than relying on external protocols. In my opinion, this product strategy is about deepening the platform: with stablecoins, lending, and other services, Aave's user retention and protocol revenue should benefit. In short, Aave has evolved from a closed-loop lending dApp to an open lego that connects to DeFi and relies on others such as Chainlink and Maker, and is now returning to a more expansive vertically integrated financial suite. In particular, the launch of GHO emphasizes Aave's intention to reintegrate the stablecoin layer it once outsourced to MakerDAO. Our research suggests that the journeys of Uniswap, Aave, MakerDAO, Jito, and other protocols illustrate broader cyclical patterns in the crypto industry. In the early days, vertical integration—building a single, monolithic product with a very specific purpose—was necessary to pioneer new features like automated trading, decentralized lending, stablecoins, or MEV capture. These self-contained designs allowed for rapid iteration and quality control in emerging markets. As the space matured, modularity and composability became priorities: protocols unbundled portions of their stack to launch new features or provide more value to external stakeholders, becoming "money Legos" by leveraging the strengths of other protocols. However, the success of modularity and composability has brought new challenges. Relying on external modules introduces dependency risk and limits the ability to capture value created elsewhere within the protocol. Now, the largest players and protocols with strong product-market fit (PMF) and revenue streams are shifting their strategies back toward vertical integration. While not abandoning decentralization or composability, these projects are reintegrating key components for strategic reasons: launching their own chains, wallets, stablecoins, frontends, and other infrastructure. Their goal is to provide a more seamless user experience, capture additional revenue streams, and protect against dependency on competitors. Uniswap is building a wallet and chain, Aave is issuing GHO, MakerDAO is forking Solana to build NewChain, and Jito is merging staking/re-staking with MEV. We believe that any sufficiently large DeFi application will eventually seek its own vertically integrated solution. in conclusion History doesn't repeat itself, but it does rhyme. The crypto world is humming a familiar tune. Much like the SaaS and marketplace revolutions of the past decade, DeFi and application-layer protocols are focusing on new technical primitives, evolving user expectations, and a desire for greater value capture, all while moving along a trajectory of unbundling and rebundling. In the 2010s, startups specializing in niche segments of the massive Craigslist marketplace effectively atomized it into distinct companies. This unbundling gave rise to giants—Airbnb, Uber, Robinhood, Coinbase—all of which have since embarked on their own rebundling journeys, integrating new verticals and services into cohesive, sticky platforms. The crypto space is following the same path at a revolutionary pace. What started as strictly scoped vertical experiments—Uniswap as an AMM, Aave as a money market, Maker as a stablecoin treasury—became modularized into permissionless Lego blocks, opening up liquidity, outsourcing key functions, and allowing composability to flourish. Now that usage has scaled, the market is fragmenting, and the pendulum is starting to swing back. Today, Uniswap is becoming a trading super-app with its own wallet, chain, cross-chain standards, and routing logic. Aave is issuing its own stablecoin, bundling lending, governance, and credit primitives. Maker is building an entirely new chain to improve the governance of its currency ecosystem. Jito unifies staking, MEV, and validator logic into a full-stack protocol. Hyperliquid merges exchanges, L1 infrastructure, and the EVM into a seamless on-chain financial operating system (OS). In crypto, primitives are unbundled by design, but the best user experiences — and the most defensible businesses — are increasingly rebundled. This isn’t a betrayal of composability, but an implementation of it: build the best possible Lego brick and use it to build the best possible castle. DeFi is compressing the entire cycle into just a few years. How? DeFi operates in a completely different way: Permissionless infrastructure reduces the friction of experimentation: any developer can fork, copy, or extend an existing protocol in hours rather than months. Capital formation is instant — With tokens, teams can fund new projects, ideas, or incentives faster than ever before. Liquidity is highly liquid. Total value locked (TVL) moves at an incentivized pace, making it easier for new experiments to gain traction and successful experiments to scale exponentially. Larger addressable market size. Protocols have access to a global, permissionless pool of users and capital from day one, typically achieving scale faster than their Web2 counterparts that are limited by geography, regulation, or distribution channels. DeFi’s super apps are rapidly expanding in real time. We believe the winners won’t be the protocols with the most modular stack, but rather those that know exactly which parts of the stack to own, which to share, and when to switch between the two.

Author: PANews

2025/09/04

Cardano audit confirms 99.7% of voucher ADA redeemed, dismisses misconduct allegations

Cardano audit confirms 99.7% of voucher ADA redeemed, dismisses misconduct allegations

The post Cardano audit confirms 99.7% of voucher ADA redeemed, dismisses misconduct allegations appeared on BitcoinEthereumNews.com. Key Takeaways The joint audit confirms 99.7% of voucher ADA was successfully redeemed, with no substantiated claims of wrongdoing. Unclaimed ADA was allocated to Cardano Development Holdings for ecosystem grants and initiatives. Input Output Global (IOG) has published the results of a months-long investigative report and forensic audit into Cardano’s ADA Voucher Program. The review, released on Sept. 3, found no evidence of wrongdoing and confirmed that nearly all vouchers had been successfully redeemed. Conducted by law firm McDermott, Will & Schulte and accounting firm BDO, the 128-page investigation examined voucher sales, redemption processes, blockchain upgrades, and the use of unredeemed ADA. Voucher sales were the original method of distributing ADA, Cardano’s native crypto asset, through pre-launch offerings that funded the network’s early development. Buyers received vouchers, sold in tranches under strict KYC and audited for transparency, which could later be redeemed for ADA once the network was launched. The audit was launched after allegations surfaced in May 2025 that Cardano founder Charles Hoskinson and IOG had manipulated the blockchain during the 2021 Allegra hard fork to seize roughly $600 million in ADA, which founder Charles Hoskinson dismissed. NFT artist Masato Alexander claimed Hoskinson used a “genesis key” to divert 318 million ADA from the reserve into other pools. Allegations dismissed The review concluded that all accusations against the voucher program were without basis. Investigators determined that the voucher program was structured with safeguards to prevent deceptive sales tactics. Contrary to allegations of targeting elderly investors, the investigation found that only about 6% of vouchers were sold to individuals aged 65 and over, with just 14 vouchers from this age group remaining unredeemed. The investigation also addressed allegations that Cardano upgrades deleted voucher holders’ “private keys.” As noted, voucher certificates contained redemption codes, not cryptographic keys, and those codes remained…

Author: BitcoinEthereumNews

2025/09/04

Businesses Reinvent Profits: 22% Invested in Bitcoin, Says River

Businesses Reinvent Profits: 22% Invested in Bitcoin, Says River

Private firms involved in the cryptocurrency sector are increasingly directing a significant portion of their profits toward Bitcoin (BTC) investments, with recent data indicating that approximately 22% of their earnings are being recycled into Bitcoin purchasing. This trend highlights the ongoing integration of traditional financial strategies within the crypto industry, emphasizing the growing importance of [...]

Author: Crypto Breaking News

2025/09/04

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