Weekly Project Updates: Arbitrum Nova Enters Maintenance, Aave Updates Risk Framework, Pudgy Party to Cease Operations, etc

1. Solana Foundation Launches Frontier Traders VIP Program link

Solana Foundation launches the Frontier Traders program for institutional and professional traders active in emerging asset markets. VIP eligibility requires on-chain trading volume exceeding $500 million and open interest above $16 million over the past 30 days. Qualified participants gain priority access to the Asset Express program, premium RPC access and exclusive event invitations. Those who do not meet VIP criteria can still take part in spot and perpetual contract trading activities.

2. Arbitrum DAO Transitions Arbitrum Nova to Maintenance Mode link

Arbitrum DAO has passed a proposal to gradually put Arbitrum Nova into maintenance mode and encourage developers and users to migrate to Arbitrum One within the next 90 days. A 90-day migration window ending on September 2, 2026, is set aside for the transfer of applications, liquidity and infrastructure to Arbitrum One. Arbitrum Nova will remain operational afterwards but operate under low-priority maintenance with reduced developer support, throttled public infrastructure and cut operational resources. Users are advised to transfer funds to Arbitrum One via the official bridge.

3. Starknet Launches ZK-Privacy Framework STRK20 link

Starknet has launched STRK20, a zero-knowledge proof privacy framework that enables private balances and confidential transfers for all ERC20 assets on the network. Adopting zero-knowledge proof technology, the framework applies to transfers, trading, lending, staking, payments and other scenarios. Unlike traditional mixers, STRK20 embeds privacy features directly into asset circulation. It also introduces the Viewing Keys mechanism, allowing users to selectively disclose specific transaction information when required by law to balance privacy protection and compliance. strkBTC is the first asset adopting STRK20.

4. Fidelity Stablecoin FIDD Picks Uniswap as Liquidity Infrastructure link

Fidelity, one of the world’s largest asset management firms, is advancing the on-chain development of its stablecoin business and has selected Uniswap as the liquidity infrastructure for FIDD. The relevant FIDD liquidity pool has been launched on the Uniswap protocol.

According to data from @marcov_91, Uniswap has burned nearly 6 million UNI worth approximately 21 million US dollars across multiple chains since last December, translating to an annualized burn value of 46 million US dollars. Notably, Ethereum, Base and BNB Chain currently top the list in terms of daily UNI burn volume.

5. Aave to Implement New Risk Framework; Non-Compliant Assets to Be Delisted link

Stani Kulechov, founder of Aave, stated that the team has been developing a new risk management framework over the past few weeks, covering asset risks, cross-chain bridge risks, chain-level risks and automated risk management mechanisms. The framework will be applied to all markets and assets on Aave V3, V4 and Aave Horizon once the governance proposal is approved. Assets failing to meet the new standards will be gradually delisted from Aave in the coming weeks. The governance proposal tightens review requirements for yield-bearing assets, stablecoins, cross-chain assets and real-world assets, including assessments of risks such as minting permissions, upgrade controls, bridge security and off-chain redemption mechanisms. Aave has also introduced a permission security rating system for the first time to impose stricter restrictions on single-signature control, unlimited minting and weak governance structures.

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6. Pyth Launches 24/7 Pricing Data for US Equities & Commodities link

Pyth Network has launched Pyth Indices covering US stocks, gold, silver, WTI crude oil and Brent crude oil. It delivers round-the-clock price references by aggregating data from on-chain and off-chain trading venues. Pyth has also partnered with MarketVector to develop stock index futures products, including thematic indices such as AI10, Defense10, China10 and Tech100. Pyth stated that these indices have been integrated by platforms including Coinbase, Kraken, dYdX and Nado, and can be used for derivative settlement, benchmark pricing, ETFs, ETPs and other scenarios.

7. Perp DEX Volume Down 56% From Oct 2025 Peak; Hyperliquid Market Share Rises to 39% link

According to DeFiLlama data, the trading volume of perpetual DEXs has dropped by 56% from its peak since last October. Meanwhile, Hyperliquid’s market share has risen from 17.2% to 39% so far this month.

8. Pudgy Party Announces Phased Shutdown & Discontinuation of Development link

The official team of Pudgy Party, a game under Pudgy Penguins, announced that it will gradually shut down the game and halt further development. The game once topped the App Store and accumulated over one million downloads. However, the team believes continuing to invest in this product is not the optimal way to expand the influence of the Pudgy Penguins IP. Going forward, the project will shift focus to Pudgy World, which will serve as the main gateway to the gaming narrative of Pudgy Penguins.

9. NFTfi to Wind Down Operations Amid Market Contraction link

NFT lending protocol NFTfi announced it will gradually sunset over the coming months as the shrinking NFT market can no longer cover its operating costs. Launched in May 2020, NFTfi has processed over $737 million in loans over six years with no NFT losses reported on its smart contracts. The platform will stop issuing new loans immediately. Existing loans can be redistributed or refinanced with a maximum 30-day term per cycle before July 31. Borrowers may make repayments as usual at any time prior to August 31, 2026. NFTfi will officially cease operations and take down its frontend website on August 31, 2026.

10. Botanix to Wind Down Bitcoin Layer 2 Network, Users Must Withdraw by July 9 link

Botanix, a Bitcoin-equivalent EVM Layer 2 network, announced it will gradually cease operations. The team stated that over nearly four years of development including one year of mainnet operation, it sought to build a decentralized Layer 2 relying solely on on-chain ecosystem and Bitcoin’s native economic traits without token incentives, points or airdrops. However, as the market generally regards Bitcoin as a reserve asset and DeFi demand is concentrated on user-friendly Ethereum general Layer 2s and centralized platforms with abundant liquidity, network fee revenue is far insufficient to cover infrastructure costs. Users holding assets on Botanix and its Bitcoin neobank BINK are reminded to withdraw Bitcoin and other assets before July 9, 2026.

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