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Flow Chain Rollback Sparks Outrage, Whale Starts Lighter Rebalancing, Mainstream Ecosystem Update Overview
Publication Date: December 29, 2025
Author: BlockBeats Editorial Team
Over the past 24 hours, the crypto market has exhibited a parallel evolution across multiple dimensions. Key topics include the Uniswap frontend fee removal and protocol-level value capture, the systemic risk exposed by the Trust Wallet security incident, and the repricing expectations of Lighter airdrops and unlocks. On the ecosystem development front, Solana has strengthened its usability narrative with year-end data and new applications, Ethereum is exploring new frontiers in content tokenization, and competition and technical innovation in the Perp DEX race are heating up simultaneously.
I. Key Topics
1. Uniswap "Unification" Proposal Officially Implemented
Uniswap has formally implemented the "Unification" proposal, completely removing frontend trading fees, positive slippage fees, and other application-layer charges, transitioning to protocol fees to enable value capture through UNI burning.
The community widely views this as a key step for Uniswap to shift the competitive focus from "frontend experience" back to "protocol efficiency." However, there are also voices questioning whether protocol fees and token burning are sufficient to support long-term sustainable product and ecosystem expansion in a fully fee-less frontend scenario, becoming the current focus of discussion.
2. Hyperliquid Reveals Team Token Unlock Schedule
Hyperliquid disclosed the team token HYPE unlock schedule on Discord: the initial batch of 1.2 million HYPE tokens will unlock on January 6, 2026, followed by monthly releases on the 6th of each month.
After the disclosure of the unlock schedule, the community swiftly shifted the discussion focus to future supply pressure and expectation management. While the unlocking is scheduled for 2026, some opinions believe that long-term linear releases help mitigate sudden selling pressure risks; there are also concerns about the specific use cases of team tokens and incentive design, with transparency and execution directly impacting market confidence and ecosystem stability.
3. Flow Blockchain Rollback Triggers Trust and Decentralization Disputes
The Flow blockchain conducted a chain rollback operation due to a security incident, triggering intense controversy.
Co-founder of cross-chain protocol deBridge, Alex Smirnov, publicly criticized the rollback, stating that it lacked sufficient coordination and the economic losses it may cause could exceed the original attack itself. He called on validators to cease activities on the rollback chain and promptly propose compensation plans. Supporters, on the other hand, view rollbacks as a stop-loss measure in extreme situations. Discussions regarding decentralization boundaries and emergency governance authority continue to intensify.
4. Trust Wallet Browser Extension Hacked, Approximately $7 Million Lost
The Trust Wallet Chrome browser extension v2.68 was reported to have a security vulnerability, resulting in approximately $7 million in cryptocurrency assets being stolen. Trust Wallet CEO Eowyn Chen confirmed the incident and stated that the user compensation process has been initiated.
An investigation revealed that the attacker exploited a leaked Chrome Web Store API key to publish a malicious version, bypassing Trust Wallet's internal review mechanism and exposing systemic risks at the browser extension distribution level.
Following the incident, some users began to question the security of browser extensions. The majority opinion is that the event revealed not a singular mistake but systemic risks in browser extension distribution and review mechanisms, urging wallet manufacturers to invest more resources in frontend security, update processes, and audit mechanisms.
5. Former Coinbase Employee Arrested in India, Sparking Compliance Discussion
A former Coinbase employee in India was arrested on suspicion of involvement in illegal activities related to cryptocurrency. The event quickly raised concerns about compliance risks for Coinbase's operations in India.
While the incident has not directly impacted Coinbase's global core business, it has brought certain pressure on its brand image and regional expansion strategy.
Some viewpoints believe that the event once again highlights the uncertainty of India's cryptocurrency regulatory environment, which may pose long-term obstacles to foreign platforms. There are also discussions focusing on internal compliance and personnel risk control mechanisms at exchanges, suggesting that global expansion is entering a new stage driven by "compliance cost."
II. Mainstream Ecosystem Dynamics
1. Solana
Solana Year-End Review: Solana officially released the final weekly report of 2025, providing a comprehensive review of the ecosystem's progress throughout the year. The review shows that Solana accelerated its expansion in 2025, launching thousands of new products and partnership projects throughout the year, making significant advancements in the prediction market (Phantom, Solflare), flexible fee payments (Kora), and various tokenized asset tools. Key data points include Solana's DEX trading volume exceeding $17 trillion during the year, ranking second globally; Solana ETFs saw net inflows for 15 consecutive days, with a total size exceeding $766 million; the on-chain tokenized stock market reached $185 million, and the network has maintained stable operation for nearly 700 consecutive days. The official statement also outlined performance expectations for a "faster, stronger" 2026, and the community generally holds an optimistic view of Solana's scalability in the next stage.
Glider Integrates Solana: DeFi automation tool Glider announced the integration of Solana, launching a gas-free, non-custodial on-chain portfolio automation product, aiming to lower the barrier of entry for regular users to engage in DeFi. Community discussions are mainly focused on the potential catalyzing effect of this model on Solana's DeFi activity, as well as the sustainability of the "gas-free" experience in long-term incentives and cost structures.
Solflare Launches 0 Gas Prediction Market: Solana wallet Solflare integrated a 0 gas prediction market supported by Kalshi, allowing users to directly trade real-world event outcomes such as sports and politics within the wallet. The community widely believes that this feature further strengthens Solana's ecosystem synergies in the prediction market space, while also enhancing user stickiness for Solflare wallet.
2. Ethereum
An investigative journalist who exposed a welfare scandal in Minnesota has tokenized the content through Zora and circulated it, sparking community interest. Supporters see this as a real-world exploration of blockchain in the "content monetization + press freedom" direction; however, there are also concerns that token price fluctuations may in turn affect the journalist's independence and professional risk boundaries. This event is seen as a microcosm of Ethereum's content economy experiment gradually moving towards social issues.
3. Perp DEX
Lighter Airdrop Discussion Heats Up: The potential airdrop plan for the Perp DEX project Lighter has sparked intense community discussion. Multiple analysts are engaging in games around airdrop fairness, early participant weighting, and distribution logic. Some viewpoints believe that the airdrop will help activate liquidity and user participation, but there are also voices questioning whether it is overly skewed towards early capital or high-frequency users.
Whales Shift to LIT: On-chain data shows that some large-volume traders have begun shifting positions from assets like HYPE to Lighter's LIT token. The community generally views this behavior as a vote of confidence in the Lighter project's outlook, but also remains cautious of the short-term FOMO sentiment and volatility risks it may trigger.
Founder Hints at Introducing Turing-Complete zk Circuit: Lighter founder vnovakovski hinted at potentially introducing a Turing-complete zero-knowledge circuit in the future to support more complex custom logic. The community believes that if this direction materializes, it could open up new design space for Perp DEX in terms of privacy, efficiency, and functional flexibility, further raising expectations for Lighter's technical roadmap.
4. Other:
UAE Agency Launches RWA Layer 2: A UAE-related agency has announced the launch of a new RWA Layer 2 solution, focusing on optimizing the tokenization issuance, trading, and liquidity structure of real-world assets. Community discussion has centered around whether this network will attract fund inflows from regional institutions and whether it can establish a differentiated position in the competitive L2 ecosystem.
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Before using Musk's "Western WeChat" X Chat, you need to understand these three questions
The X Chat will be available for download on the App Store this Friday. The media has already covered the feature list, including self-destructing messages, screenshot prevention, 481-person group chats, Grok integration, and registration without a phone number, positioning it as the "Western WeChat." However, there are three questions that have hardly been addressed in any reports.
There is a sentence on X's official help page that is still hanging there: "If malicious insiders or X itself cause encrypted conversations to be exposed through legal processes, both the sender and receiver will be completely unaware."
No. The difference lies in where the keys are stored.
In Signal's end-to-end encryption, the keys never leave your device. X, the court, or any external party does not hold your keys. Signal's servers have nothing to decrypt your messages; even if they were subpoenaed, they could only provide registration timestamps and last connection times, as evidenced by past subpoena records.
X Chat uses the Juicebox protocol. This solution divides the key into three parts, each stored on three servers operated by X. When recovering the key with a PIN code, the system retrieves these three shards from X's servers and recombines them. No matter how complex the PIN code is, X is the actual custodian of the key, not the user.
This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.
The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.
The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.
After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."
From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.
In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.
As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."
Not continuous monitoring, but a clear access point.
For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.
This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.
There is also a structural issue: How quickly will this button shift from an "optional feature" to a "default habit"? The higher the quality of Grok's replies, the more frequently users will rely on it, leading to an increase in the proportion of messages flowing out of encryption protection. The actual encryption strength of X Chat, in the long run, depends not only on the design of the Juicebox protocol but also on the frequency of user clicks on "Ask Grok."
X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.
In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.
WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.
X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.
These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.
This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.
X Chat generates communication metadata, including information on who is talking to whom, for how long, and how frequently. This data flows into X's identity system. Part of the message content goes through the Ask Grok feature and enters Grok's processing chain. Financial transactions are handled by X Money: external public testing was completed in March, opening to the public in April, enabling fiat peer-to-peer transfers via Visa Direct. A senior Fireblocks executive confirmed plans for cryptocurrency payments to go live by the end of the year, holding money transmitter licenses in over 40 U.S. states currently.
Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.
The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.
X Chat consolidates the three data lines of "who this person is, who they are talking to, and where their money comes from and goes to" in one company's hands.
The help page sentence has never been just technical instructions.
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After the blockade of the Strait of Hormuz, when will the war end?
Before using Musk's "Western WeChat" X Chat, you need to understand these three questions
The X Chat will be available for download on the App Store this Friday. The media has already covered the feature list, including self-destructing messages, screenshot prevention, 481-person group chats, Grok integration, and registration without a phone number, positioning it as the "Western WeChat." However, there are three questions that have hardly been addressed in any reports.
There is a sentence on X's official help page that is still hanging there: "If malicious insiders or X itself cause encrypted conversations to be exposed through legal processes, both the sender and receiver will be completely unaware."
No. The difference lies in where the keys are stored.
In Signal's end-to-end encryption, the keys never leave your device. X, the court, or any external party does not hold your keys. Signal's servers have nothing to decrypt your messages; even if they were subpoenaed, they could only provide registration timestamps and last connection times, as evidenced by past subpoena records.
X Chat uses the Juicebox protocol. This solution divides the key into three parts, each stored on three servers operated by X. When recovering the key with a PIN code, the system retrieves these three shards from X's servers and recombines them. No matter how complex the PIN code is, X is the actual custodian of the key, not the user.
This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.
The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.
The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.
After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."
From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.
In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.
As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."
Not continuous monitoring, but a clear access point.
For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.
This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.
There is also a structural issue: How quickly will this button shift from an "optional feature" to a "default habit"? The higher the quality of Grok's replies, the more frequently users will rely on it, leading to an increase in the proportion of messages flowing out of encryption protection. The actual encryption strength of X Chat, in the long run, depends not only on the design of the Juicebox protocol but also on the frequency of user clicks on "Ask Grok."
X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.
In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.
WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.
X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.
These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.
This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.
X Chat generates communication metadata, including information on who is talking to whom, for how long, and how frequently. This data flows into X's identity system. Part of the message content goes through the Ask Grok feature and enters Grok's processing chain. Financial transactions are handled by X Money: external public testing was completed in March, opening to the public in April, enabling fiat peer-to-peer transfers via Visa Direct. A senior Fireblocks executive confirmed plans for cryptocurrency payments to go live by the end of the year, holding money transmitter licenses in over 40 U.S. states currently.
Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.
The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.
X Chat consolidates the three data lines of "who this person is, who they are talking to, and where their money comes from and goes to" in one company's hands.
The help page sentence has never been just technical instructions.
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