Chain Check is our Saturday round-up of the week’s most important moves on blockchains other than bitcoin and Ethereum. This week’s list runs from Saturday 7 Nov to Friday 13 Nov, with market figures as of about 10:45 UTC on 14 Nov. Last week’s Chain Check covered 31 Oct to 6 Nov.
1. MANTRA pauses unbonding for seven days
MANTRA, a layer 1 built for tokenised real-world assets, put an emergency seven-day pause on all new unbonding, the waiting period stakers go through to withdraw, it said on Friday. The reason was the Keplr and Web3Auth thefts: after liquid MANTRA had been stolen from affected wallets, the attackers began unbonding their victims’ staked tokens too, and a governance vote, Proposal 41, had already frozen several of their wallets, the team said.
The pause does not stop unbondings already under way. MANTRA told affected stakers to redelegate before their eight-day unbonding finishes, so the attacker cannot collect the tokens, and said it will review the pause after seven days.
2. dYdX votes on moving its USDC from Noble to Injective
dYdX stakers are voting on Proposal 400, the v9.9 upgrade, which would have the chain’s USDC backed by Circle’s USDC on Injective instead of on Noble, because Circle is retiring its Noble version, according to the upgrade proposal. Balances, positions and the USDC denomination stay the same; from the upgrade, deposits from Noble are refused and refunded, and withdrawals leave as Injective USDC, the dYdX migration guide says. Circle’s own cutoff for USDC on Noble is 12 Jan 2027.
Voting closes at 11:32 UTC on Monday 16 Nov. At about 10:50 UTC on Saturday, the chain’s governance record showed 161.4 million DYDX for, no votes against and 17.0 million abstaining. The upgrade is set for block 114,220,000, which the proposers aimed at about 17:00 UTC on 17 Nov.
3. The Cosmos Hub votes to fix its broken governance queries
Proposal 1061 would upgrade the Cosmos Hub to Gaia v29.1.0 at block 33,935,300 to repair queries that list governance proposals and their tallies, which broke because older parameter-change proposals could no longer be read, the proposal text says. It is a state-breaking upgrade, meaning validators must all switch software at that height. With voting open until 17 Nov at 11:57 UTC, about 149.4 million ATOM had voted yes and only a few hundred ATOM against or abstaining, on a turnout of about 43% of staked ATOM.
4. Initia is still halted
Initia’s layer 1 has been stopped since 06:18 UTC on 10 Nov, Initia’s second halt in under three weeks. The team said that evening an attacker used a compromised cloud key to reach the platform its rollups run on and forge withdrawals from five of them, moving about $3.27 million, of which $2.16 million is stuck on the paused chain. Initia says it intends to restore the affected assets’ backing in full and is rebuilding its infrastructure from scratch; we found no restart date on its X account as of Saturday morning.
5. DTCC picks Solana for tokenised securities
The Depository Trust & Clearing Corporation said on 12 Nov it plans to let eligible securities held at DTC be tokenised on Solana, with the integration due in the second half of 2027: DTCC’s plan. Its tokenisation service went live on 28 Oct on Canton and a private network. A plan for 2027 is not a launch, and nothing changes for Solana users yet.
6. Solana drafts the end of durable nonces
A draft proposal, SIMD-0723, would remove durable nonces, a feature that keeps a signed transaction valid indefinitely and that custodians use for offline signing. It names 5 May 2027 as the earliest mainnet date and still needs sign-off from Anza and Firedancer engineers, the two main client teams.
7. Avalanche to settle an NYSE-affiliated venue
Ava Labs said on 9 Nov that Avalanche will be the core ledger for clearing and settlement at an NYSE-affiliated digital trading venue for tokenised securities: the NYSE-affiliated venue. The platform still needs regulatory approval, and it is designed to list shares issued on other blockchains as well.
8. Schwab adds SOL, AVAX and LINK
Charles Schwab added solana, avalanche and chainlink to its Schwab Crypto accounts, taking the list to five tokens with bitcoin and ether: Schwab’s expansion. Trades cost 75 basis points, the accounts sit at Schwab’s bank subsidiary, and residents of New York and Louisiana cannot use them.
9. Zcash developers propose 20-second blocks
Three days after Zcash moved to 25-second blocks, developers ValarDragon and Evan Forbes proposed cutting the target to 20 seconds and want the change put to the next community poll and included in the NU7.1 upgrade: the 20-second proposal. Their stress tests showed orphan rates, the share of valid blocks that lose a race and are discarded, of 1.9% to 3.3%. It is a proposal only.
10. Suiet’s API switches off today
Suiet, a self-custodial browser wallet for Sui, ends its API services after today, 14 Nov: Suiet’s sunset notice. Nothing moves on the Sui chain itself. The risk is that the extension can no longer display or send funds, which is why the project asks users to save the recovery phrase for each account and import it into a different Sui wallet before uninstalling.
The week in numbers
| Chain | Token | 7-day change | TVL | Active addresses | Source |
|---|---|---|---|---|---|
| MANTRA | MANTRA | −18.0% | $0.5M | — | CoinGecko, DefiLlama |
| dYdX | DYDX | −11.5% | $67.9M | — | CoinGecko, DefiLlama |
| Cosmos Hub | ATOM | −3.2% | $0.11M | — | CoinGecko, DefiLlama |
| Initia | INIT | −19.2% | $3.2M | — | CoinGecko, DefiLlama |
| Solana | SOL | −15.9% | $4.84B | — | CoinGecko, DefiLlama |
| Avalanche | AVAX | −3.2% | $580.1M | — | CoinGecko, DefiLlama |
| Zcash | ZEC | −31.1% | $2.3M | — | CoinGecko, DefiLlama |
| Sui | SUI | −10.7% | $391.0M | — | CoinGecko, DefiLlama |
Prices as of 10:45 UTC and TVL as of about 10:46 UTC on 14 Nov. TVL is total value locked in DeFi applications on each chain; the Cosmos Hub figure covers the Hub only, and Initia’s is DefiLlama’s reading for a chain that is currently halted. We have left active addresses blank because we could not verify one consistent source for all eight chains at publication.
It was a falling week across the board: bitcoin lost 11.5% and ether 14.9% over seven days, according to CoinGecko. AVAX and ATOM held up best on this list, each down about 3%, while ZEC fell 31.1%, the steepest drop here. We found no announcement from any of these projects that explains its token’s move.
Next week: the dYdX vote closes on Monday and the upgrade is due on Tuesday; the Cosmos Hub vote ends on Tuesday; MANTRA’s pause comes up for review around Friday; and Binance aims to finish reopening withdrawals by the end of the week, as we reported this morning. SOL was trading at $75.79 as of 10:45 UTC, according to CoinGecko, down 15.9% over seven days.
This article is for information only and is not investment advice.