Weekly Project Updates: TrumpMeme Team to Host Luncheon for Holders, Backpack Announces TGE, Across Protocol to Transition to US Company, etc

Mar 14, 2026

1.Hyperliquid Crude Oil Perpetual Contract Total Volume Surges to Around $7.3 Billion Recently link

The trading volume of crude oil perpetual contracts on the crypto trading platform Hyperliquid has grown rapidly recently. Data from Kaiko shows that the cumulative trading volume of crude oil perpetual contracts on the platform has soared from approximately $339 million on February 28 to around $7.3 billion. As perpetual contracts support 24/7 trading, some traders place early bets on oil price movements during weekends when traditional futures markets are closed.

The latest monthly trading volume rankings of the top ten decentralized perpetual contract exchanges (Perps DEX) have been released. Among them, Hyperliquid ranks first with a monthly trading volume of $178.23 billion, leading by a large margin. Aster ($77.77 billion), EdgeX ($70.83 billion) and Lighter ($65.47 billion) rank second to fourth respectively. The data indicates that the decentralized derivatives sector continues to gain market attention and capital inflows.

2. TrumpMeme Team to Host Luncheon for TRUMP Token Holders on April 25 link

According to the official website of TrumpMeme, a conference themed on cryptocurrency and business will be held at Mar-a-Lago on April 25, 2026, with Donald Trump as one of the keynote speakers. The conference is limited to 297 seats, and eligibility is tied to the TRUMP token holdings leaderboard. The top 297 holders may attend the event, and the top 29 holders will have access to an additional VIP reception.

3. Backpack Announces TGE on March 23, 25% of Tokens to Be Unlocked at TGE link

Backpack announced that its TGE will take place on March 23. According to the released token allocation plan, 25% (approximately 250 million tokens) will be unlocked at TGE, including 24% from Points airdrops (about 240 million tokens) and 1% from Mad Lads (about 10 million tokens). 37.5% (625 million tokens) allocated to the pre-IPO phase will be unlocked upon achieving growth milestones. 37.5% (375 million tokens) post-IPO will be transferred to the company treasury, fully locked for the first year after IPO as long-term strategic digital assets.

4. Sonic Labs Launches Native US Stablecoin USSD link

Sonic Labs has announced the launch of USSD (US Sonic Dollar), a network-native US dollar stablecoin positioned as the stable liquidity layer for the Sonic ecosystem. Built on Frax Finance’s infrastructure, USSD is backed 1:1 by US Treasury assets issued by BlackRock, Superstate, and WisdomTree.

5. Polkadot Officially Launches Tokenomics Upgrade, Sets 2.1 Billion DOT Max Supply Cap link

Polkadot officially announced that its issuance model upgrade will officially launch on March 14 (Pi Day). The protocol changes mainly introduce two core measures: first, setting a maximum supply cap of 2.1 billion DOT, of which approximately 80% has been issued; second, reducing the DOT emission rate by about 53% starting March 14, with further reductions planned in the future. The official stated that these changes were proposed by the community and approved by OpenGov, aiming to limit long-term issuance, maintain incentive mechanisms, and provide a transparent and predictable issuance schedule.

Previously, asset management firm 21Shares launched the first physical Polkadot (DOT) ETF in the United States under the ticker symbol TDOT, which has been listed and traded on Nasdaq. The ETF uses a physically backed structure, holding DOT tokens directly to track its price performance, with a management fee of approximately 0.30%, allowing investors to gain exposure to Polkadot through traditional brokerage accounts.

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6. Base Chain Uniswap V2 Daily Volume Plunges, Backtest Shows Over 95% Activity From Scams link

Since Uniswap implemented fees, trading volume on Uniswap V2 across the Base network has dropped sharply, falling from a previous daily average of $55–100 million to $24–35 million. Moreover, 90% of this volume does not actually pay protocol fees, as most transactions originate from rug-pull projects. Backtesting reveals that over 95% of Uniswap V2 activity on Base is linked to scams.

7. OP Labs CEO: Sufficient Funds, 20 Staff Layoffs Unrelated to Finances link

According to OP Labs CEO Jing Wang, OP Labs will lay off 20 team members, and affected employees will complete communication with their supervisors within hours. The adjustment has nothing to do with financial conditions; the company has sufficient funds and several years of operational reserves. The main purpose is to narrow business focus, improve decision-making efficiency and reduce collaboration costs. The compensation package starts at 3 months of base salary, with an additional 1 month for each full year of employment, up to a maximum of 5 months. Departing employees will receive 6 months of continued health insurance coverage and keep their personal laptops. Jing Wang stated that she will personally assist laid-off employees with external job referrals.

8. Across Protocol Proposes ACX Holders Convert Tokens to Company Equity at 1:1 Ratio link

Paradigm-backed cross-chain bridge protocol Across Protocol has released a temperature check proposal exploring a transition of its DAO structure to a U.S. C-corporation. If approved by the community, ACX holders may choose to convert their tokens to company equity at a 1:1 ratio or redeem tokens for 0.04375 USDC per token.

Previously, on March 4, 2025, cross-chain interoperability protocol Across Protocol raised $41 million through a token sale to investors, led by Paradigm with participation from Bain Capital Crypto, Coinbase Ventures, Multicoin Capital, and others. This round brought Across’s total funding to $51 million, following a $10 million token financing round in November 2022.

9. Pump Fun Registers Subdomains on Base, BSC, Monad and Ethereum, Removes Solana Tag link

Pump Fun has registered subdomains for Base, BSC, Monad, and Ethereum, signaling the platform may be looking to expand beyond the Solana ecosystem to other blockchains. Meanwhile, Pumpfun has also removed the “Solana” location tag from its X account profile.

Previously, Pump Fun founder Alon stated on X that despite the challenging market environment, the team will rapidly and aggressively expand its headcount and continue to provide technical support for cross-chain trading infrastructure and other areas. He added that the team will keep investing resources to drive growth for the Pump Fun core platform, mobile app, and Terminal.

10. Starknet Introduces STRK20 Privacy Token Standard, Adds Default Privacy to ERC-20 link

Starknet has announced the launch of the STRK20 privacy token standard, designed to provide default privacy features for ERC-20 tokens. Built on the Starknet Privacy Pool and zero-knowledge proof technology, this solution keeps the addresses of both transacting parties and transaction amounts invisible on-chain to external observers, while supporting DeFi operations such as DEX trading and staking. Developers state that this architecture can satisfy compliance and audit requirements through encrypted viewing keys while preserving privacy.

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