PancakeSwap TVL Tops $2.4B as Fee Overhaul Heads to Vote

PancakeSwap TVL Tops $2.4B as Fee Overhaul Heads to Vote

by | Oct 21, 2026 | DeFi

PancakeSwap TVL climbed to $2.4 billion on Wednesday, up from about $2.02 billion a week earlier, as the decentralized exchange prepared for a significant restructuring of its fee distribution model for liquidity providers. The nearly 19% increase added roughly $380 million in locked value over seven days, according to DefiLlama data cited by Cointelegraph.

The growth matters because it arrives alongside a governance vote on a proposal called "The Flip," which would reshape the exchange's fee structure and token economics at a time when BNB Chain's DeFi activity is expanding. PancakeSwap is the dominant decentralized exchange on BNB Chain, making the outcome of the vote significant for the network's liquidity providers and traders.

The timing of the capital inflow suggests market participants are positioning ahead of potential changes to the protocol's revenue-sharing model. If approved, the overhaul would mark one of the most substantial shifts in how the exchange compensates users who provide trading liquidity.

PancakeSwap TVL Growth Concentrated in V3 Pools

The increase in PancakeSwap TVL was concentrated in the protocol's V3 liquidity pools, where locked value rose from $336 million to approximately $739 million over the same seven-day period, Cointelegraph reported. That segment accounted for the bulk of the week's gains and reflected heightened interest in the platform's newer pool architecture.

Trading activity on the platform remained robust throughout the period. Over the past week, PancakeSwap handled roughly $4.67 billion in decentralized exchange volume on BNB Chain, capturing about 71% of the network's total trading activity, according to DeFiLlama. The network also hosts most of PancakeSwap's liquidity, accounting for roughly $2.33 billion of its $2.40 billion in total value locked.

The dominance of V3 pools in the week's growth underscores a shift in where liquidity providers are choosing to deploy capital. These pools offer more granular control over price ranges and capital efficiency compared to earlier versions of the protocol, features that may be attracting users ahead of the proposed fee changes.

Fee Overhaul Would Give LPs 88% of Swap Fees

The governance proposal, called "The Flip," would raise the portion of swap fees directed to liquidity providers on V3 and Infinity pools to 88%, compared to the current range of 66% to 68% on most pools, according to Cointelegraph. The vote opened as PancakeSwap TVL was posting its weekly gains.

Under the plan, daily emissions of the CAKE token would decline gradually by about 69%, dropping from 22,500 tokens to 7,000 tokens, Cointelegraph reported. Implementation is expected to begin in November if the proposal is approved by governance participants.

The proposed reduction in emissions represents a significant shift in the protocol's monetary policy. By cutting the rate at which new CAKE tokens enter circulation, the overhaul aims to reduce inflationary pressure while redirecting a larger share of trading revenue to those who supply liquidity.

If passed, the changes would take effect in November, giving liquidity providers and token holders a clearer picture of the protocol's economic model heading into the final months of the year. The vote remains open, and the outcome will determine whether the fee structure and emissions schedule are adjusted as proposed.

BNB Chain DeFi Activity Expands Alongside DEX Growth

The activity comes amid broader growth across BNB Chain's DeFi ecosystem. Over the past week, the network's total value locked rose by about 8.3% to reach $5.84 billion, according to DeFiLlama.

Trading volume on decentralized exchanges operating on BNB Chain also climbed sharply, rising 40.2% to $6.54 billion during the same period. This increase occurred even as the network's stablecoin market capitalization edged down 0.6% to $13.1 billion, Cointelegraph reported.

The divergence between rising trading volume and a slight decline in stablecoin market cap suggests that capital is being deployed more actively rather than sitting idle. The growth in both TVL and DEX volume points to sustained user engagement across the network's DeFi protocols.

Tokenized Equities Add to BNB Chain Presence

Beyond crypto, BNB Chain has also seen an expansion in tokenized equities, a market in which PancakeSwap has an established presence. The decentralized exchange began supporting Binance's bStocks in June, allowing users to trade tokenized US stocks onchain, according to Cointelegraph.

Binance announced that bStocks surpassed $1 billion in assets under management, approximately four months after launching. The company reported more than $40 billion in cumulative trading volume and said 11.2% of bStocks' value was deployed in DeFi in early October.

The integration of tokenized equities into PancakeSwap's platform broadens the range of assets available to its users beyond traditional cryptocurrencies. As bStocks have grown in assets and trading volume, the exchange's role in facilitating access to these products has become part of its wider market position on BNB Chain.

Conclusion

PancakeSwap TVL reached $2.4 billion on Wednesday after adding roughly $380 million in a week, with V3 pools driving the increase. The governance vote on "The Flip" proposal, which would raise liquidity providers' share of swap fees to 88% and cut daily CAKE emissions by about 69%, is now open. If approved, implementation is expected to begin in November, according to Cointelegraph.

Frequently Asked Questions

What is PancakeSwap's TVL after the recent increase?

PancakeSwap's total value locked climbed to $2.4 billion on Wednesday, up from about $2.02 billion a week earlier, according to DefiLlama data cited by Cointelegraph. The nearly 19% increase added roughly $380 million in locked value over seven days.

What is "The Flip" proposal on PancakeSwap?

"The Flip" is a governance proposal that would increase liquidity providers' share of swap fees on V3 and Infinity pools to 88%, up from 66% to 68% on most pools. It would also gradually reduce daily CAKE token emissions by approximately 69%, from 22,500 to 7,000 tokens.

When would PancakeSwap's fee changes take effect?

Implementation of the proposal is expected to begin in November if it is approved by governance voters, according to Cointelegraph. The vote opened as PancakeSwap's TVL was posting weekly gains.

How much of BNB Chain's DEX volume does PancakeSwap handle?

PancakeSwap accounted for approximately $4.67 billion in decentralized exchange trading volume on BNB Chain over the past seven days, representing about 71% of the network's total, according to DeFiLlama.

What are Binance's bStocks and how do they relate to PancakeSwap?

bStocks are Binance's tokenized US stock products, which PancakeSwap began supporting in June, allowing users to trade tokenized equities onchain. Binance announced bStocks surpassed $1 billion in assets under management about four months after launch, with more than $40 billion in cumulative trading volume.

Sources

Aurora Intents Elara Link Connects Solana Wallets to Ethereum Yield

Aurora Intents Elara Link Connects Solana Wallets to Ethereum Yield

by | Oct 16, 2026 | Altcoin News

Aurora Intents Elara integration is now live, with Aurora Labs saying its Aurora Intents Connect service has launched on Elara, the treasury product built by Brila Finance, letting Solana wallet holders put idle stablecoins to work in Elara's Ethereum-based yield product without leaving the wallet they already use. The integration, announced in an October 15 press release, moves deposited funds to Ethereum while the user keeps control through the same Solana wallet.

The tie-up removes two of the most common frictions in moving value between blockchains: there is no bridging step and no second wallet to manage, and withdrawals land back where they started. Aurora Labs said the Solana pathway is live in the Elara app, with both deposits and withdrawals handled through one wallet.

How the Aurora Intents Connect flow works

Under the process Aurora Labs described, a user first signs a deposit transaction from a Solana wallet, and Aurora Intents processes that deposit before any staking approval. Once the funds arrive on Ethereum, Elara mints elUSD, its USD-denominated treasury asset. The user then approves a second transaction from the same Solana wallet to stake elUSD into sELUSD.

Elara said the staked token generates yield from stablecoin market-making activities. Aurora Labs said both elUSD and sELUSD stay on Ethereum in accounts controlled by the user's Solana wallet, and that Aurora Intents does not hold any funds during the process.

Through Intents Connect, Aurora Labs said an application can carry out operations on a destination chain once funds are transferred there, including minting, staking and deposits. For Elara, that means deposit approval is granted first and staking is completed with a separate signature, with both actions originating from the initial Solana wallet.

On the way out, users first unlock their sELUSD stake and redeem elUSD for a stablecoin, according to the announcement. Aurora Intents then returns the funds to the original Solana wallet, completing the exit through the same wallet used to enter.

Executives cite friction as the target

Declan Hannon, chief executive of Aurora Labs, connected the launch to the hurdles people encounter when they try to use a product built on a different chain. "Every additional step between the user and the product reduces its deposits," Hannon said. He added that users prefer to skip "cross-chain bridges and buying gas," and said Aurora Intents handles connecting their existing wallets to Elara.

Sebastien Davies, head of strategy at Elara, said the integration is aimed at people who already hold stablecoins on Solana rather than requiring them to manage another wallet. "Aurora Intents provides these holders with a direct pathway to Elara, without the need for a cross-chain bridge or managing a second wallet," Davies said.

Elara's treasury product and the infrastructure behind it

Elara positions itself as a treasury management offering inside the Brila ecosystem. Its documentation states that when users deposit stablecoins the protocol creates elUSD, and locking that token up as sELUSD opens the door to strategies that earn yield from market making.

Aurora Labs said Aurora Intents is built on NEAR Protocol's NEAR Intents solver network, which the company said has handled upwards of $34 billion in transaction volume. The announcement made clear that this number describes the underlying network rather than money deposited into Elara.

Aurora's earlier Sui and Zcash integrations

The Elara launch follows Aurora's earlier work on other chains. In September, crypto.news reported on Aurora's one-signature execution on Sui, where the company said people could deposit into and use supported applications without arranging a separate bridge, changing wallets or purchasing SUI gas. According to the September 17 announcement, NEAR Intents provided liquidity, settlement infrastructure and interchain connectivity, and Aurora Labs said applications could accept funds for lending, trading, staking and yield positions.

Hannon said at the time that Sui became the second chain outside the Ethereum model that the service supported, following Solana, and that the underlying network's routed trading volume had exceeded $30 billion. He also said the service handled the flow of money tied to the Zcash auction, executing 1,718 trades worth more than $19 million in total, according to a September 21 report. The zkSNARKS auction drew submissions of $36.94 million, and Aurora processed more than half of the assets that were converted and deposited.

Breaking down that auction volume, Hannon said USDC made up 27% of the total, flowing in from four networks, and Solana contributed the biggest portion, while native ETH made up an additional 21%. Participants could also fund bids with BTC, SOL, BNB and other supported assets. For those transactions, Hannon said competing solvers worked to supply the specified ZEC amounts at fees users had approved in advance of signing, and he cited reliance on the NEAR Intents settlement contract along with market makers and cross-chain bridges holding the source assets.

Security incident and tax context

The integration lands weeks after a security incident on the underlying network. On October 1, NEAR co-founder Illia Polosukhin announced that services had been restored following an exploit involving $3.8 million in USDT on BSC, which he traced to a weakness in how the Omni deposit and withdrawal systems interacted with the NEAR Intents smart contract. Polosukhin said the SHIELD monitoring system flagged the irregular activity, which led to a temporary halt in services, and that engineers resolved the problem within an hour of pinpointing the vulnerability.

Polosukhin pledged full compensation to affected users and said the NEAR Protocol core, NEAR tokens and other applications were unaffected, though some chain connections remained restricted when services restarted. He further promised a review and postmortem of the incident, saying the conclusions would feed into stronger security measures.

For U.S. users, the Internal Revenue Service states that income from digital-asset transactions must be reported on federal tax returns. Its April 2024 guidance covers stablecoins as well as rewards earned through staking or yield programs, and obliges anyone filing the designated federal forms to respond to the digital asset question and declare the associated income.

Conclusion

Aurora Intents Connect is live on Elara, giving Solana wallet holders a two-signature route into the Ethereum-based treasury product: one signature to deposit stablecoins, a second to stake elUSD into sELUSD for market-making yield. Aurora Labs said it never holds funds and that withdrawals return stablecoins to the originating Solana wallet after unstaking and redemption. The Solana pathway is available now in the Elara app, with deposits and withdrawals managed from the same wallet, and the companies have framed the launch around removing bridges and extra wallets from the deposit process.

Frequently Asked Questions

What does the Aurora Intents and Elara integration let Solana users do?

It lets Solana wallet holders deposit stablecoins into Elara's Ethereum-based treasury product without a cross-chain bridge or a second wallet. Users sign a deposit from their Solana wallet, funds move to Ethereum where Elara mints elUSD, and a second signature stakes it into sELUSD, which earns yield from stablecoin market making.

How do withdrawals from Elara back to Solana work?

According to the announcement, users first unlock their sELUSD stake and redeem elUSD for a stablecoin on Ethereum. Aurora Intents then returns the funds to the original Solana wallet, so the exit is completed through the same wallet used to enter the product.

Does Aurora Intents hold user funds during the Elara deposit process?

Aurora Labs said Aurora Intents does not hold any funds during the process. The company said the elUSD and sELUSD positions stay on the Ethereum side, sitting in accounts that remain under the control of each user's Solana wallet.

What is elUSD and how does sELUSD generate yield?

Elara, a treasury management product in the Brila ecosystem, mints elUSD as its USD-denominated treasury asset when users deposit stablecoins. Staking elUSD as sELUSD grants access to market-making yield strategies, and Elara said the staked token generates yield from stablecoin market-making activities.

What infrastructure powers Aurora Intents, and was it affected by a recent hack?

Aurora Labs said Aurora Intents uses the NEAR Intents solver network from NEAR Protocol, which has processed over $34 billion in transactions. On October 1, NEAR co-founder Illia Polosukhin said services were restored after a $3.8 million USDT exploit on BSC, pledged full compensation to affected users, and said the NEAR Protocol core and other applications were unaffected.

Sources

Solana Captures 65% of Tokenized Equities Trading Volume

Solana Captures 65% of Tokenized Equities Trading Volume

by | Oct 12, 2026 | DEX

Solana captured 65% of tokenized equities trading volume across the sector in a single day, cementing its operational footprint in digital securities markets according to data released by SolanaFloor. The data revealed that Solana's volume stood roughly 85% above the aggregated share handled by all rival blockchain platforms combined.

The metric underlines how the network is processing digital tokens designed to track underlying conventional stocks. Overall sector figures show that global on-chain equity trading reached roughly $15.6 billion in tokenized equities trading volume during the prior month, reflecting the escalating transaction activity connecting traditional equities to distributed ledger systems.

Coin Gabbar reported that this 65% daily milestone occurred on October 10, 2026, aligned with tracking metrics displayed on a Blockworks dashboard. Trading volume represents the aggregate value of transactions processed, and the single-day print positioned the network well ahead of competing networks for that window.

Historical Flow and Decentralized Exchange Activity

The recent concentration of trading activity follows substantial momentum recorded across decentralized exchanges during the preceding quarters. In the second quarter of 2026, Solana processed 95% to 97% of worldwide tokenized equity volume executed on DEX platforms, Crypto Briefing reported.

During that second-quarter stretch, DEX volume on the network totaled $5.8 billion, representing a 114% rise from the first quarter. Solana reached a cumulative milestone when its historical tokenized stock transaction volume crossed $10 billion late in June 2026, Crypto Briefing reported.

Subsequent single-day records also documented heavy activity on the chain. Crypto Briefing noted that on September 12, 2026, Solana cleared more than $200 million in tokenized equity trades, eclipsing the combined tokenized equity volume connected to Nasdaq and the NYSE by over $100 million.

Much of this activity ran through Solana-based automated venues. Raydium alone executed a substantial share of those transactions, according to Crypto Briefing, capturing between 63% and 70% of network activity.

Supply Expansion and 24-Hour Trading Dynamic

The operational growth has coincided with wider asset creation. The network currently hosts more than 2,000 tokenized equities, CoinTrust reported, providing continuous trading channels for varied market participants.

Crypto Briefing reported that tokenized equity supply issued on the blockchain expanded to a record level of $684 million toward the middle of September 2026. That peak marked a 47% increase achieved over a span of three weeks.

On-chain stock trading has also deviated markedly from standard equity market sessions. Figures published by Crypto Briefing showed that through August 2026, 63% of Solana's tokenized equity trading transactions occurred outside standard US market hours.

Network Competition and Tokenized Equities Trading Volume Volatility

Despite periodic high marks in tokenized equities trading volume, the distribution of market activity has experienced significant shifts between competitors. Crypto Briefing reported that as late September arrived, Solana's market share receded to approximately 35% as alternative platforms expanded their transaction counts.

During that late September interval, Robinhood Chain temporarily surpassed Solana by capturing approximately 39% of the market, Crypto Briefing reported. Coin Gabbar noted that the climb to 65% on October 10 followed days in which Solana stood near that lower 35% mark.

CoinTrust noted that a single day of high volume does not confirm a permanent market reorganization, as overall liquidity levels regularly fluctuate. CoinTrust reported that total trading activity alone does not demonstrate the aggregate value of underlying equity assets or the absolute number of active market participants.

Ecosystem participants maintain that longer-term competition will extend beyond basic turnover metrics. CoinTrust reported that institutional uptake, regulatory compliance, asset issuer partnerships, liquidity, transaction costs, and security will determine sustained adoption across competing platforms.

Market Infrastructure and Broader SOL Developments

Analysts assess that multiple elements may drive network adoption, including throughput performance and ecosystem software support, although the data does not confirm which specific variables generated the recent market share, CoinTrust reported. Coinfomania reported that Solana is an infrastructure known for speed and cost-efficiency in managing decentralized applications.

Coinfomania reported that Solana's performance stands out amid mixed broader market signals, reflecting growing institutional attention toward its settlement infrastructure. The outlet reported that continued execution could position the platform as a core venue for institutions exploring blockchain rails for regulated finance.

Elevated tokenized equities trading volume does not inherently correlate with price increases for the native SOL cryptocurrency, according to CoinTrust. Coin Gabbar reported that the official Solana account on X announced a second spot Solana exchange-traded fund is set for an October 13 launch on HKEX.

Conclusion

Solana's capture of 65% of daily tokenized equities trading volume demonstrates significant network throughput in clearing digital securities trades, outpacing rival distributed networks over the measured session. Whether the blockchain can retain this volume lead will depend on forthcoming data, issuer retention, and upcoming institutional infrastructure developments such as the scheduled spot ETF listing on the Hong Kong stock exchange.

Frequently Asked Questions

What share of tokenized equities trading volume did Solana handle on October 10, 2026?

Solana accounted for 65% of the sector's tokenized equities trading volume on October 10, 2026, according to data from SolanaFloor and charts reported by Coin Gabbar. That volume exceeded the combined market share of all other tracked networks by approximately 85%.

How much tokenized equity trading volume was processed globally in the prior month?

Around $15.6 billion in trading volume was handled worldwide across on-chain equities during the preceding month, CoinTrust reported, illustrating the sector's mounting footprint.

Which decentralized exchange handled the majority of Solana's tokenized stock trading?

Raydium, a decentralized exchange operating on Solana, facilitated between 63% and 70% of the network's tokenized equity activity during elevated volume periods, according to Crypto Briefing.

What was the total supply of tokenized equities on Solana in September 2026?

Tokenized equity supply on Solana reached a record high of $684 million by mid-September 2026, Crypto Briefing reported. That total represented a 47% expansion achieved within a three-week window.

Sources

XRP Expands DeFi Role as Firelight Activates Onchain Protection

XRP Expands DeFi Role as Firelight Activates Onchain Protection

by | Oct 8, 2026 | DeFi

Firelight Protocol has officially launched its onchain protection system on the Flare network, deploying capital backed by staked FXRP to safeguard decentralized finance vaults. The platform announced that its services are now active, beginning with coverage for Sentora's USD Protected Vault and Protected RWA Vaults, allowing depositors to receive embedded coverage without having to purchase individual policies.

The deployment enables an onchain cover mechanism designed to provide verifiable onchain protection against specified protocol exploits, oracle failures, and economic shocks. According to Markets Insider, Lucas Outumuro, vice president of institutional DeFi at Sentora, stated that "Until now, protection has been missing from the infrastructure behind DeFi earn products" as automated strategies expand across blockchain networks.

Capital Architecture and Onchain Protection

Under the protocol's design, onchain protection relies on staked FXRP, an asset representing XRP on Flare's smart contract environment, to support its payout engine. Stakers receive stXRP as a transferable receipt for committed assets, which sit outside the protected applications, while an integration via Flare Smart Accounts allows supported XRP Ledger accounts to create and deposit FXRP in a single step.

Crypto Briefing reported that Firelight launched its coverage supported by 50.2 million XRP pledged on the Flare network, noting that the aggregate ceiling for these staked positions reaches $115 million. The operational framework connects liquidity gathered since stakers reached an initial milestone of more than 50 million XRP in March to live programmatic cover obligations, expanding the financial role of the underlying token across decentralized markets.

Stakers supply economic underwriting in exchange for protocol rewards, which are continuously streamed in FXRP and auto-compound to boost position value over time. These emissions are funded by fees charged to vault operators for coverage enablement, according to Markets Insider and Bitcoin.com News. In exchange for yields, committed capital and accumulated earnings face slashing to satisfy claims should an eligible exploit occur.

Validation Mechanism and Risk Management

Firelight records coverage parameters, scopes, pricing, and capacities directly onchain before activation rather than negotiating conditions after losses occur. When an incident arises, designated security partner ZeroShadow issues an exploit review, which prompts an independent Risk Consortium to verify conditions and issue an onchain attestation before any capital can be released.

The protocol's Risk Consortium consists of five external firms: Hypernative, Native, Credora, Cyfrin, and GFX Labs. Once an event is confirmed, Firelight's mechanism automatically identifies every active position exposed within the affected vault market to organize loss distribution.

The service specifically targets incidents such as smart contract compromises, governance attacks, bad debt from structural breakdown, and oracle manipulation to deliver data-driven onchain protection. Bitcoin.com News reported that Firelight highlighted a near-tripling in oracle attacks targeting lending products over the past year alongside a 39% increase in curated vault assets.

Vault Integration and Infrastructure Scale

The coverage engine was incubated by Sentora, an institutional asset manager, and developed by Sentinel Labs. Sentora represents the largest vault curator across DeFi with $2.8 billion in total value locked across more than 300 strategies, underpinning the system with over 1,000 risk models across $2 billion in deployed capital.

Coverage is also being integrated into third-party vault architecture through partnerships with Veda and Upshift. This allows external asset managers who build vaults on those platforms to embed onchain protection directly, passing down automated safeguards to their end depositors under their respective product terms.

Early development was supported by an $8 million seed investment round led by Gumi Cryptos Capital, with backing from Tribe Capital, Maven 11, and Metalayer. The initial emissions from the protocol will also reward community contributors who accumulated Firelight Points during the network's launch phase.

Operating Limits and Market Reaction

Because stakers commit volatile XRP while claim settlements are paid out in stablecoins, Firelight applies a dedicated capital adequacy model to maintain solvent reserves. CryptoNews reported that the protocol can elevate emissions to draw in liquidity during drawdowns, though the team did not disclose the initial premium amounts or specific cover totals written for the Sentora vaults.

Staking conditions and terms are governed by Firelight Networks (BVI) Ltd. under British Virgin Islands law, with protocol liabilities capped at the advance amounts provided. The project's contracts were audited by OpenZeppelin, Coinspect, and 0xMacro, alongside an active bug bounty on Immunefi, though CryptoNews reported that audits for Tuesday's live coverage code were listed as coming soon on Firelight's documentation site.

Following the activation announcement, XRP recorded a 1.4% gain over 24 hours, while Flare's FLR token advanced 0.9%, according to CoinGecko data. Jesus Rodriguez, Firelight co-founder and chief technology and product officer at Sentora, stated on X that decentralized assets require programmable coverage alongside expanding usage.

Conclusion

Firelight's live rollout brings onchain protection to Sentora's USD and real-world asset vaults, establishing a programmatic cover primitive backed by staked FXRP on the Flare network. Independent attestation by its five-member Risk Consortium provides a decentralized alternative to traditional insurance models. In the coming days, Firelight plans to release full eligibility and claiming procedures for initial contributor emissions across its official channels, alongside publishing complete cover terms to IPFS.

Frequently Asked Questions

Which vaults feature Firelight onchain protection at launch?

Firelight activated its coverage initially on Sentora's USD Protected Vault and Protected RWA Vaults. The coverage is embedded directly at the product tier, meaning depositors inherit safeguards against specified technical and economic events without purchasing standalone insurance policies.

How much XRP is backing Firelight's coverage pool?

Crypto Briefing reported that 50.2 million staked XRP on Flare provides the initial collateral behind the coverage platform. The protocol has established an aggregate commitment limit of $115 million for these positions.

Who validates claims before a Firelight cover payout is made?

Claims are verified by an independent Risk Consortium made up of five security and analytical firms: Hypernative, Native, Credora, Cyfrin, and GFX Labs. They review incident reports published by security partner ZeroShadow against pre-registered onchain terms before approving any disbursement.

What risks are covered under the Firelight Protocol?

Covered events registered onchain include smart contract hacks, oracle manipulation or feed failures, governance exploits, mechanism depegs, redemption failures, and bad debt arising from protocol mechanism breakdowns.

Sources

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