Chain Check 31 Oct: Hyperliquid’s US partners, Akash’s Solana vote, Osmosis stops minting

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 24 Oct to Friday 30 Oct, with market figures as of 10:51 UTC on 31 Oct. Last week’s Chain Check covered 17 to 23 Oct.

1. Hyperliquid lines up two US partners

Hyperliquid will add HIP-3*, an optional mode in which whoever deploys a market keeps an on-chain allowlist of who may trade it. Kraken’s parent Payward wants its CFTC-regulated exchange Bitnomial to be the first such deployer and offer perpetual futures, contracts with no expiry date, to US clients, subject to regulatory approval. Three days later NYSE owner ICE agreed to become the exclusive operator of a US-regulated version of Trade[XYZ]’s Hyperliquid perpetuals and take a minority stake; that also needs approval and has no timeline: ICE’s deal.

2. Akash’s Solana vote is running 98% yes

Akash Network’s Proposal 346, which would move AKT from Akash’s own Cosmos chain to Solana, had 59,193,150 AKT voting yes and 959,652 voting no at about 10:50 UTC on Saturday, by our read of the chain’s tally. That is 98.2% of votes cast, on a turnout of about 67.9% of staked AKT, well past the 33.4% quorum. Voting closes on 2 Nov at 15:02 UTC, and the compute marketplace would only move after a second vote: what the vote decides.

3. A £22 billion fund and a bank charter on the XRP Ledger

Aviva Investors launched a tokenised share class of its Sterling Liquidity Fund, its largest at about £22 billion, on the XRP Ledger with Ripple, seeding it with £50 million of its own money: the Aviva launch. A day later the US Office of the Comptroller of the Currency gave Ripple final approval for Ripple National Trust Bank, which will manage the reserves behind the $2.5 billion RLUSD stablecoin: the charter.

4. Stellar gets a Nasdaq-100 fund and a Securitize plan

Janus Henderson and Centrifuge launched JQQQ, a fund built on Stellar that tracks the Nasdaq-100 under licence; it is a British Virgin Islands vehicle closed to US persons: JQQQ. Tokenization firm Securitize, which issues and manages blockchain versions of securities, said at Stellar’s Meridian conference in Lisbon that it will integrate with the network, without naming assets or dates: the Securitize plan.

5. DTCC switches on tokenization, with Canton in the mix

The Depository Trust Company, which holds most US securities in custody, turned on the DTCC Tokenization Service, minting tokenized entitlements, digital claims on securities it holds. It runs on Canton and on a private Besu network, the first 20 participants include J.P. Morgan, Citi and Fidelity, and 34 securities are eligible at launch: the DTCC launch.

6. Zcash argues over its grants money, a week before NU7

Zcash developer Sean Bowe opened a draft proposal that would stop paying Zcash Community Grants its 8% share of each block subsidy and send it to the Network Sustainability Mechanism, a pool meant to smooth future issuance: the draft. The chain was at block 3,536,919 at 10:44 UTC on Saturday, according to Blockchair, 6,486 blocks short of the NU7 upgrade height; at the current 75-second pace that falls around 6 Nov.

7. Osmosis stops issuing OSMO

Stakers passed Proposal 1053, ending new OSMO issuance, so staking rewards now come only from fees: the inflation vote. The v32 upgrade, which moves 22.65 frozen allBTC to a treasury sub-DAO, was applied at block 73,304,000, and Proposal 1055, to swap community-pool reserves into BTC, ETH and USDC, passed on Wednesday with about 92.1 million OSMO in favour.

8. Solana: a fee for bug reports and a drained trading bot

Firedancer, the Solana validator software built by Jump Crypto, now asks researchers to burn 1 SOL per bug report after a contest brought in 809 reports but only 127 unique findings; rewards are doubled, or tripled for Alpenglow bugs, until 20 Nov: the new terms. Separately, trading bot Bloom said about 9,408 SOL was drained from 49 wallets of nine users through a third-party module and that it will repay them in full: the Bloom incident.

9. Zilliqa loses its CEO, keeps its hard fork date

Zilliqa said chief executive Alexander Zahnd stepped down at his own request, that its X-Bridge stays suspended during an outside investigation and that native ZIL is not affected: what Zilliqa said. Its fourth exchange-migration hard fork, which moves exchange balances from old addresses to its EVM addresses, was scheduled for block 39,242,023 on Friday; the chain was at block 39,326,059 and still producing blocks on our read at 10:52 UTC on Saturday.

10. Dogecoin’s corporate arm loses its licence

House of Doge ended its exclusive licence with the Dogecoin Foundation, must drop “Doge” from its name by 31 Dec and owes the foundation $400,000, according to its SEC filing; its CEO and CFO resigned on 22 Oct: the filing. The Dogecoin network itself is untouched. On prices, HYPE led this list with a 15.6% gain over seven days, followed by ZEC and OSMO, while AKT fell 7.7%, according to CoinGecko; we found no announcement that explains any of those moves.

The week in numbers

Prices and TVL as of 10:51 UTC on 31 Oct. TVL is total value locked in DeFi applications on each chain; the Hyperliquid figure is DefiLlama’s Hyperliquid L1. DefiLlama’s XRP Ledger figure jumped in one step from $39.4M on 27 Oct to $339.0M on 28 Oct; we could not establish whether that reflects new deposits or a change in what DefiLlama counts. DefiLlama lists no TVL for Akash. We have left active addresses blank because we could not verify one consistent source for all ten chains at publication.

Next week: Akash’s vote closes on 2 Nov, Zcash’s NU7 lands around 6 Nov, and we watch whether Bitnomial or ICE file anything with US regulators. SOL was trading at $95.58 as of 10:51 UTC, according to CoinGecko, down 6.3% over seven days.

Related: Aave freezes tBTC after Threshold pauses minting and redemptions

Related: Next week's Chain Check: Zcash NU7 goes live, Akash's Solana vote passes, Algorand closes its forum

This article is for information only and is not investment advice.