Weekly Project Updates: Ethereum New Features Reduce Blind Signing Risks, Jito to Launch Trading Terminal, Multiple Protocols Abandon LayerZero, etc

May 16, 2026

1. Ethereum Launches Clear Signing Standard to Mitigate On‑Chain Blind‑Signing Risks link

The Ethereum Foundation announced that Ethereum has launched the open‑source “Clear Signing” standard, designed to reduce blind signing of unreadable hexadecimal data during transaction signature processes by displaying transaction details in human‑readable text. The solution includes the ERC‑7730 standard for human‑readable transaction descriptions, a mirrorable descriptor registry, the ERC‑8176 certification framework for auditors to verify descriptor integrity, and open‑source development tools for wallets, protocols and auditors. Participants include Ledger, Trezor, MetaMask, WalletConnect, Fireblocks and other institutions, with the Ethereum Foundation facilitating coordination and advancement.

2. Aptos Becomes First Layer‑1 Supporting Dynamically‑Distributed Formal Verification link

Aptos stated that it has become the first Layer 1 blockchain supporting formal verification for dynamic dispatch, enabling mathematical validation of whether relevant mechanisms operate as designed. Aptos noted that developers can leverage AI to write specifications and verify smart contract logic via the Move Prover, enhancing the verifiability and security of on‑chain programs.

3. Starknet Unveils strkBTC to Integrate Privacy Features for Bitcoin link

Starknet announced the launch of strkBTC, a privacy‑focused Bitcoin asset, on its network. It stated that Bitcoin is one of the most sovereign forms of money to date yet also among the least private currencies users have practically utilized. Starknet noted that strkBTC is designed to address this issue. Built on Starknet’s STRK20 privacy framework, the feature enables protocol‑level private transfer support for any ERC‑20 assets.

4. Jito Labs to Launch JTX Trading Terminal, Expanding to Spot, Perpetuals and Prediction Markets link

Lucas Bruder, co‑founder and CEO of Jito Labs, stated that as more traditional trading users enter on‑chain markets, the new‑generation users no longer identify themselves as “crypto traders” but seek to trade various assets including crypto assets, gold, crude oil and real‑world events. Jito Labs is expanding from infrastructure services to consumer‑facing products, planning to launch the trading terminal JTX this summer, initially supporting spot trading, followed by perpetual swaps via cooperation with Phoenix, with prediction market features to be integrated subsequently.

5. Ondo Tokenized Stocks Market Cap Surpasses $1 Billion; xStocks Cumulative Trading Volume Tops $30 Billion link

The market capitalization of Ondo tokenized stocks has surpassed $1 billion, covering BNB Chain, Ethereum, Solana and HyperEVM. Meanwhile, total trading volume of Ondo tokenized stocks has exceeded $18 billion, with minting‑and‑redemption volume reaching $5.6 billion. Over the past month, Ondo’s native token surged more than 60%, pushing its market cap above $2 billion.

Cumulative trading volume of xStocks tokenized stocks has exceeded $30 billion, among which daily trading volume of CRCLx has grown significantly since May. At present, AUM of xStocks tokenized stocks stands at $424 million, with over 120,000 total holders.

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6. Fluid Resolv Incident Recap: ~$21 Million Bad Debt Covered, User Funds Secured link

DeFi liquidity protocol Fluid released a post‑mortem report on the Resolv incident, stating that Resolv was hacked in March with approximately $80 million in unsecured USR maliciously minted, causing around $21 million in bad debt for Fluid. Fluid noted the exploit occurred outside Fluid, with its smart contracts and code uncompromised. Related losses have been fully covered; the remaining roughly $19.3 million in bad debt will be borne by Resolv for about $9.7 million, the Fluid governance treasury for $8.2 million, and the team for $1.5 million. As a result, Fluid will suspend FLUID buybacks and drastically cut or cancel incentives to rebuild its treasury. Future plans include oracle and pricing mechanism upgrades, along with the launch of DEX v2, Solana DEX, fixed‑rate lending, LaaS, and institutional custodial collateral products.

7. Lombard Abandons LayerZero, Migrates Over $1 Billion Bitcoin Assets to Chainlink CCIP link

Following Kelp DAO’s cross‑chain bridge built on LayerZero being exploited with a loss of $292 million in April, multiple crypto institutions have begun migrating cross‑chain assets to Chainlink CCIP, involving approximately $4 billion in total locked value. DeFi protocol Lombard recently announced its abandonment of LayerZero and migration of over $1 billion in Bitcoin‑backed assets including LBTC and BTC.b to Chainlink CCIP. Previously, Kelp DAO, Solv Protocol, Re and Kraken have taken similar migration actions.

8. Kelp DAO Restores rsETH Withdrawal, Bridging and Claim Functions Under Coordinated Restart Plan link

Kelp DAO stated that rsETH withdrawal, cross‑chain bridging and asset claim functions have now been restored as part of the coordinated restart plan. Kelp said it would update exchange rates and EigenLayer‑related claim data at approximately 22:30 Beijing Time on May 15 to reflect staking rewards accrued by rsETH holders during the suspension period. It also noted that rsETH deposit functions would be reopened after a brief stabilization period, and Aave and Kelp would continue replenishing remaining rsETH assets to locked pools over the next two weeks.

9. Dune Announces 25% Workforce Cut, Pivots to AI and Institutional On‑Chain Services link

hagaetc, founder of crypto data platform Dune, announced in a post that the company laid off 25% of its workforce this week to focus on developing core data products. He stated that despite the layoffs, Dune remains well‑funded and confident about the future. hagaetc emphasized that Dune will fully bet on two major trends going forward: AI and institutional on‑chain adoption.

10. Code4rena to Wind Down Operations; Immunefi Takes Over Bug‑Bounty Clients and Security Researchers link

Smart contract contest auditing platform Code4rena announced it will wind down operations gradually. Web3 security firm Immunefi will take over its bug‑bounty clients and security researchers, assisting with the migration of bounty scopes, rules and reward structures. Code4rena stated all ongoing contest audits and bounty programs will be finalized. Code4rena secured a $6 million funding round from Paradigm in 2023 and was acquired by Zellic in 2024. The shutdown comes amid frequent DeFi security incidents and declining industry activity.

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