Weekly Project Updates: Ethereum's Fusaka Upgrade Scheduled for the End of the Year, Base Considers Issuing Tokens, Pump Has Repurchased $100 Million, etc

Sep 20, 2025

1. Ethereum Mainnet Fusaka Upgrade Tentatively Scheduled for Dec 3 This Year link

Christine Kim, former Vice President of Research at Galaxy Digital, tweeted that Ethereum developers confirmed the Fusaka upgrade timeline at today’s ACDC 165 meeting: the Holesky testnet upgrade will take place on October 1st, the Sepolia upgrade on October 14th, the Hoodi upgrade on October 28th, and the mainnet upgrade is scheduled for December 3rd. In addition, the meeting also confirmed that after the activation of Fusaka, the blob capacity will be gradually increased through two BPO hard forks: it will remain unchanged initially, the target/maximum number of blobs will be increased from 6/9 to 10/15 in the first week, and further increased to 14/21 in the second week.

2. Consensys CEO: MetaMask Token Coming, Possibly Sooner Than Expected link

Consensys CEO Joe Lubin said in an interview that the MetaMask token is coming and may be coming sooner than expected. Previously, MetaMask co-founder Dan Finlay said that his team was still considering launching a native token.

In addition, this week MetaMask announced the launch of a stablecoin, MetaMask USD (mUSD). According to the official introduction, the stablecoin operates on the Linea blockchain, provides fiat currency deposit services, supports MetaMask Swap and Bridge transactions, and can be used by global merchants through the MetaMask card.

3. Base Network Considers Token Issuance link

Jesse Pollak, Head of Base Ecosystem, stated on BaseCamp that Base is exploring the possibility of issuing a network token.

Base officially said that it is exploring the launch of a Base network token. It is still in the early stages of exploration, and no specific information regarding the timeline, design or governance is available to share at present.

4. Pump Fun Has Cumulatively Repurchased PUMP Tokens Worth Over $100M link

Pump Fun has completed PUMP token buybacks worth over $100 million in total, with a cumulative buyback volume of 2.466 billion tokens and an average buyback price of $0.00428, maintaining a daily buyback amount of $2–3 million.

Recently, according to data from Jupiter Pro, Pumpfun live-streaming concept tokens have become popular. Among the 7 Pumpfun tokens with a 24-hour trading volume exceeding $20 million on Monday, 6 are live-streaming concept tokens. Among them, Bagwork has a 24-hour trading volume of over $65 million, surpassing that of Fartcoin.

5. Sky Vote Proposes Delayed Upgrade Penalty for Users Who Fail to Convert MKR to SKY Timely link

Sky Protocol (formerly MakerDAO) has initiated a governance vote to establish a “Delayed Upgrade Penalty,” which will impose a 1% penalty fee on holders who fail to convert MKR to SKY within the specified time. If the vote passes, the penalty will take effect on September 22, 2025. Holders are encouraged to complete the upgrade as soon as possible to avoid losses.

6. Wormhole Announces W 2.0 Token Economy Update, Launches Strategic Reserve link

Wormhole has announced an update to its W 2.0 token economic model, launching a strategic reserve called Wormhole Reserve. On-chain and off-chain protocol revenues will be locked into this reserve, which will be used to lock up W tokens to support their long-term value. The new mechanism retains vesting staking rewards and enhances profit opportunities for governance participants and ecological application users. Meanwhile, Wormhole plans to replace the original annual cliff unlocking with biweekly small-scale releases starting from October.

7. Aster Announces Official Launch of Its Token ASTER link

Aster announced that its token ASTER has been officially launched. Users can now claim the airdrop through the official website, which will be directly credited to their Aster spot trading accounts. ASTER will start its initial trading on Aster Spot at 12PM UTC today, and the withdrawal function is expected to open on October 1st. The official reminded users to be alert to relevant scams.

Aster officially announced that the ASTER/USDT trading pair has now been officially launched on Aster Spot. At the same time, it reminded users that ASTER trading outside Aster Spot is not officially supported, and to be alert to the risk of counterfeit tokens.

8. Mantle Mainnet Upgrades with OP Succinct Tech, TVL Exceeds $2B link

Mantle Network has announced the completion of its mainnet upgrade, officially adopting the OP Succinct technology, and becoming the ZK Rollup with the largest TVL (total locked value) globally, which exceeds $2 billion. Mantle Network announced its plan to switch to ZK Rollup last year and is one of the first companies to adopt OP Succinct. This upgrade marks the completion of its transformation and lays the foundation for the “liquidity chain” ecosystem, supporting the adoption of DeFi, RWA, and institutions.

9. Movement Transforms to L1, Upgrades to Support Move 2 Smart Contract Language link

Movement announced that it will upgrade from a sidechain architecture to a Move-based Layer 1 blockchain (L1), aiming to break through current performance bottlenecks and achieve a processing capacity of over 10,000 transactions per second (TPS) and sub-second latency. After the upgrade, the Move 2 language will be introduced, expanding support for features such as enumeration types, index notation, and compound statements; the network will be managed by MOVE token validators for consensus and verification, and an unlocked token staking mechanism will be launched to enhance decentralization and network stability.

10. On-Chain Value of RWA Nears $30B, with Nearly 400,000 RWA Holders link

According to the data from RWA.xyz, the on — chain value of RWA is approaching $30 billion, with nearly 400,000 RWA holders. Among them, the Provenance network developed by Figure occupies a market share of 42.3%, and the value of Ethereum RWA is close to $9 billion, ranking second. Other networks with an on — chain value of over $1 billion include ZKsync Era and Polygon. It is worth noting that earlier, 0xngmi, the co — founder of DeFiLlama, questioned the RWA data on the Figure chain.

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