67 incidents. $763.97M gone. Q2 2026 Report is worth reading carefully. Hacken's Security & Compliance Report breaks down what happened, what failed to prevent it, and what that means for the rest of the year:

Did you know the polio vaccine doesn’t prevent infection or transmission? And there's more you should know about polio and IPV.... PIC created a Polio Disease Information Statement. It's worth reading. You can find it here: P.S. It's a quick read.

"Capital should never stop working." The clearest framing of what we're building toward. Modular infrastructure, specialized layers, zero idle time. Worth reading in full. 👇

Every week, @pendle_fi does something that makes it harder to argue against. Protocols are increasingly building their liquidity strategy around Pendle. APYX and Saturn are the clearest examples of this right now. @apyx_fi launched on Pendle and went from $26M to $371M TVL in two and a half months. A 14.3x increase. Pendle holds roughly 77% of all APYX TVL. That is not a protocol using Pendle as one tool among many. That is a protocol whose liquidity expansion is being driven through Pendle. @saturn_credit tells the same story from a different angle. $48.7M to $159.8M in thirty days. Native USDat holders grew 12x since listing. Pendle holds 48% of Saturn TVL. The PT markets are currently offering around 19% fixed APY. If you are willing to loop on @Morpho, yields can stretch to 60–110%. PT-apxUSD and PT-apyUSD are now the largest PT markets on Morpho with $50.5M TVL combined. The Paxos USDG pool crossed $200M TVL. These numbers are not happening because Pendle got lucky with timing. They are happening because the protocol built something that serious capital wants to sit inside. Now for the part most people overlook. The orderbook upgrade quietly changed the efficiency of everything. Before the migration, the orderbook handled 38.4% of volume. It now handles 59.9% of volume. $1.64B has been routed since the migration, a 2.5x increase even while TVL contracted. Volume efficiency improved while TVL declined. Half of all markets can now absorb $100K+ at under 2% price impact. The largest single trade absorbed was $13.3M on Global Dollar. The LO incentive numbers deserve their own moment. Roughly $32K spent generated around $280K in fees. Nearly 9x efficiency, and still climbing weekly. Most liquidity incentives bleed capital. They only work when the underlying product is strong. Emissions were cut 36.5%. 73% of remaining emissions are now directed toward fee-generating pools through AIM. 97.27M PENDLE staked, which is 35% of circulating supply. The protocol is getting leaner and more efficient at the same time. That combination is rare. @boros_fi does not fit neatly into any existing category. That is exactly why it is worth paying attention to. OI is at $125M, up 12.9% week over week. Volume sits at $52.5M, up 5.7%. Brent Oil, WTI Oil, Gold, Silver, the S&P 500, SOL, XRP, and HYPE across Hyperliquid, Binance, OKX, Bybit, and Lighter. Thirty-eight active markets in total. That list is worth reading slowly. Oil. Gold. Silver. The S&P 500. Pendle, a protocol built around yield, now has markets tied to macro assets traded across global finance. That is not a small product decision. That is a statement about what this protocol intends to become. BTC and ETH liquidity also improved this week, with OI rebuilding across 18 markets spanning four exchanges.

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