The crypto markets continued to decline as the investor activity slowed down in anticipation of the holidays.
BitcoinBTCThe price of ) declined over 5% this past week. On Thursday it fell as low as $84,398 before recovering and trading above $87.769 on the following Friday. TradingView Data shows
Crypto market volatility continues to threaten the sustainability of digital asset treasury (DAT) companies, as their longevity now depends on avoiding the multiple-to-net-asset-value (mNAV) “roller coaster,” Solmate CEO Marco Santori says that this makes these companies subject to value fluctuations of tokens on their balance sheets.
The US Securities and Exchange Commission dropped their four-year probe into Aave in the cryptocurrency industry, a major regulatory victory for the sector.
Stani Kulechov has revealed the Aave 2026. “master plan” Aave App and Horizon are the three main components of the Aave decentralized platform. The goal is to collect $1 billion through the real-world deposit of assets.
DAT durability depends on avoiding “mNAV roller coaster”: Solmate CEO
In 2025 the rise of digital assets treasury firms will become a major story, but its longevity will depend on capital management and business strategies.
Solmate CEO Marco Santori said that DATs are all affected by the value of their underlying tokens. The problem shouldn’t affect revenue-generating business, but DATs with a pure play strategy will face some bumps.
“The multiple-to-net-asset value is how a lot of these treasury companies survive. If they’re trading at a high mNAV, meaning their market cap is bigger than the value of the coins they have on the balance sheet, then they can sell stock in an accretive way,” Santori on Chain Reaction X, Cointelegraph.
“Every dollar of stock they sell, they take that and go out and buy the underlying coin with, and that increases their net asset value. So long as they can maintain the premium, they can just keep doing that. And that is the pure play treasury model. I actually think that has a future.”
The issue, however, is that the value of the DAT token will decrease as interest wanes. Santori said that lower token prices lead to lower mNAVs.
“That means a lot of the treasury companies are kind of idle because they can’t grow efficiently and effectively. I didn’t want to be subject to that. I didn’t want that for our investors. I want to give them exposure to SOL and to the growth of the Solana network, but I didn’t want them riding an mNAV roller coaster,” Santori said.
Aave founder’s outline 2026 “master plan” After the end of SEC Probe
Stani Kullechov is the Aave’s founder and he has just unveiled his new decentralized protocol. “master plan” The US Securities and Exchange Commission dropped their four-year probe into 2026 shortly after it was revealed.
Kulechov, in a Tuesday post on X, said that despite 2025 being the most “successful year” Aave, for him, is still the most important platform. “day zero compared to what lies ahead.”
In a vision for 2026 that includes a detailed master plan, the CEO highlighted he was focused on scaling DeFi and meeting specific metrics like $1 billion worth of deposits in Real-World Assets (RWAs).
“As it stands, our strategy going into next year has three main pillars: Aave v4, Horizon, and Aave App,” He said.
The Aave version 4 is now available. major upgrade The platform is said to be bringing significant improvements to its borrowing and lending pool, user interface, and liquidation parameter, among others.
Kulechov wrote in his post that the v4 version will be released. “backbone of all finance,” He pointed out the customized lending markets the Hub and Spoke model of the v4 will offer.
In this model, a hub is referred to as a single, unified, cross-chain liquidity pool, which serves as centralized location for assets in the protocol. Spokes are highly customized markets that access hub liquidity.
“This will allow Aave to handle trillions of dollars in assets, making it the go-to choice for any institution, fintech, or company looking to access Aave’s deep, reliable liquidity,” He said adding:
“In 2026, Aave will be home to new markets, new assets, and new integrations that have never existed before in DeFi. We’ll continue engaging with fintechs and work closely with the DAO and our partners on the rollout to progressively scale TVL throughout the year.”
As the CEO looked at Horizon Aave’s real-world assets market’s next pillar, he outlined plans to onboard. “many top financial institutions” To be a major player in the RWA sector.
The Hyperliquid Governance Vote aims at permanently removing $1 billion Assistance Fund
Hyper Foundation proposes a validator voting to formally acknowledge HYPE Tokens stored in Hyperliquid Protocol’s Assistance Fund System Address as being permanently inaccessible. They are then excluded from the asset’s circulating stock and supply.
According According to the Foundation, the Assistance Fund (also known as the Protocol Fund) is an embedded protocol mechanism in layer-1’s network execution. The fund automatically converts the trading fee into HYPE and sends them to an address. The wallet was not available at the time this article was written. contains Around $1 billion of tokens
It was impossible to recover funds from the address because it did not have any control mechanisms. “By voting ‘Yes,’ validators agree to treat the Assistance Fund HYPE as burned,” Hyper Foundation written
Native Markets is the issuer and the Hyperliquid native stablecoin USDH. reminded Users should be aware that half of the reserve yield from the stablecoin is sent to the Assistance Fund, and then converted into HYPE Tokens. “Should this validator vote pass, these contributions will then be formally recognized as burned,” This is what the company said.
ETHGas raises $12 million as Buterin revives gas futures debate
ETHGas is a platform that trades Ethereum blocks in a blockspace. It has announced it raised 12 million dollars from Polychain Capital.
This funding announcement Comes after Vitalik Buterin (co-founder of Ethereum) recently discussed the idea of an onchain “gas futures” marketThey argue that such a tool could help users to better understand the fees they can expect in future and hedge against them.
Gas argues that Ethereum You can also find out more about “a reimagination of the way blockspace is allocated on the network” It claims that the newly launched trading platform for blockspace is an important step towards this goal. According to the company, $800,000,000 in pledges were made by validators and builders.
Even though tokenized stocks are onchain, the SEC is still looking for the keys
Trading and Markets Division, US Securities and Exchange Commission (SEC), on Wednesday outlined the rules for broker-dealers to custody tokenized shares and bonds. The division indicated that cryptocurrency-based assets will fall under traditional security safeguards and not as a separate category.
This division is a good example of a division. said The company would have no objection to brokers claiming ownership of crypto assets under current customer protection laws, provided they comply with a series of conditions relating to operational, security, and governance. The only exception is crypto-assets, such as tokenized bonds or stocks.
Although the statement does not constitute a standard, it clarifies US regulators’ expectations regarding tokenized securities and how they should be incorporated into traditional market safety measures.
According to the guidance, tokenized securities do not have unique rules and are treated like a different asset class. The tokenized securities are placed in existing frameworks for broker-dealers, regardless of whether they’re settled within blockchain networks.
Market overview of DeFi
Data from Cointelegraph Markets Pro According to TradingView, the majority of the top 100 cryptocurrencies ranked by their market capitalization have ended this week with a loss.
The token of Memecoin Launchpad Pump.fun (PUMP), which is the token used to launch the platform, fell by 32%, marking it as the biggest drop in the Top 100 for the last week. This was followed closely by the tokens from decentralized exchange Aster (ASTER), down 27%.
Thank you for reading this summary of the most important DeFi news from last week. Next Friday, we’ll be back with more information and stories about this rapidly advancing field.
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Source: cointelegraph.com
