LIVE ADA-- MCAP-- TVL-- STAKE-- EPOCH-- Cardano & Midnight 総合情報ポータル
SIPO
𝕏 🔍
HOME › Weekly Brief EN › Weekly Brief #26 | Midnight Mainnet Opens Contract Deployment Without Review
Weekly Brief EN

Weekly Brief #26 | Midnight Mainnet Opens Contract Deployment Without Review

2026-10-03SIPO

On October 2 (JST), Midnight mainnet entered the stage where anyone can deploy a smart contract. The Midnight Foundation’s CTO told builders at 14:54 JST that “contracts are live on mainnet,” and the Midnight Foundation made the formal announcement at 16:37 JST. The stage that had run since the March mainnet launch, in which every contract going to production was reviewed one by one, has now been removed.

The announcement named two changes. Builders can deploy contracts directly without additional security reviews. And contracts can themselves deploy other contracts on behalf of users. Applications that run confidentially have gone from something you apply for and wait on to something you write and ship.

On the Cardano side, the same week kept returning to the question of how votes are counted. In the SPO poll on raising k from 500 to 1000, explicit no votes went from 3 pools to 17, and by delegated stake they now outweigh yes 9.08 times. And the two DReps run by EMURGO and Yoroi abstained on all three pending actions. An abstention drops out of the denominator used to decide ratification, so the number being divided by shrank by roughly 700 million ada.

SIPO’s three pools and its DRep have not yet voted on the k poll. k=1000 is a change that works against SIPO’s first pool, and that position is disclosed in Chapter 8.

Executive Summary

  • Review-free deployment began on Midnight mainnet: on October 2 (JST), with a post by the Foundation’s CTO (14:54) and the Foundation’s announcement (16:37). Builders can deploy without additional security review, and contracts can deploy other contracts on behalf of users. The earlier review was not an audit either, but from now on the default is a contract nobody looked at before it went live.
  • Before the opening, the contents of a release were re-checked: on September 30, node-1.0.300 was re-issued under the same number so that it reproduces the exact runtime hash on chain. The new node-2.1.0 line reached rc.3 and rc.4, but no public network runs it yet.
  • The k poll now has 17 pools against: explicit yes stands at 14 pools, 55,646,107 ada; explicit no at 17 pools, 505,040,034 ada. By stake the gap widened to 9.08 times (1.80 in the previous issue), and no now leads by headcount as well.
  • Ace Alliance cast the committee’s third vote: on September 27, yes on all three pending actions as findings of constitutionality. On the same k poll, Tingvard abstained as “not a matter for the committee,” while Ace Alliance cited the Constitution and found it “constitutional.”
  • EMURGO and Yoroi abstained on all three actions: six votes in 21 minutes on September 30, with combined voting power of 717,678,367 ada. Yes on minPoolCost rose to 17.42%, but had the two stayed non-voting it would be 14.66%; part of the rise is the denominator shrinking.
  • OpenZeppelin cannot get there unless votes already cast change: even if every non-voting DRep turned yes, it would reach 64.62%, short of the 67% threshold. The deadline is 06:44:51 JST on October 12.
  • cardano-node 11.1.3 was released: a fix that restores the order in which IPv4 addresses are read, and Intersect states plainly that it is “only a bug fix and not a security fix.”
  • CAP-12, a constitutional amendment for Dijkstra, was filed: it adds to the Constitution’s appendix the new parameters the next hard fork will introduce.
  • FluidTokens was attacked and paused lending: the team says the cause was the oracle feed, that no smart contract vulnerability was involved, and that one market was affected. A formal post-mortem, including the loss amount, had not appeared as of the morning of October 3.
  • CIP-113 was merged and RealFi went live: PRIME will require CIP-113 in every app it funds, and RealFi launched with three entry points at once. SIPO takes part as a RealFi ambassador.
  • Only NIGHT moved sharply in the market: NIGHT +85.76%, BTC +0.57%, ETH −1.10%, ADA −6.44%. NIGHT’s gain was concentrated on three days: September 30, October 1 and October 3.

1. Market Pulse

Values from the morning fixed observation, September 26 to October 3.

Asset9/2610/3Week
ADA$0.256209$0.239712−6.44%
BTC$83,946$84,427+0.57%
ETH$2,687.84$2,658.23−1.10%
NIGHT$0.02485597$0.04617263+85.76%

The two-week run of “all four assets up” ended, and the moves split sharply by asset.

NIGHT finished the week at 1.86 times its starting price. Recorded day-on-day changes were small from September 27 to 29, in the +2% to +7% range, then came two large days in a row, +18.36% on September 30 and +19.79% on October 1, a pause at −0.30% on October 2, and another jump of +18.96% on October 3. Most of the week’s gain came on those three days.

ADA went the other way: −4.03% day-on-day on September 29 and −2.33% on October 3. On the morning of October 3, SOL was +0.19% and BTC −0.12%, and the regime record reads “sideways with little direction.” Taken at the two edges of epoch 658, ADA moved from $0.25257111 to $0.24466542, −3.13%, or from ¥39.73 to ¥38.67.

Price moves are not linked to the events covered in this issue. NIGHT’s large gain came in the same week Midnight opened deployment, but public information does not show what drove buying or by how much.

Network figures: epoch 658 produced 21,383 blocks and 159,916 transactions, up by a little over 20% from epoch 657’s 130,442. The staking ratio slipped from 56.32% to 56.18%, and delegators fell by 546 to 1,334,735. Pools that produced blocks rose by 31, from 921 to 952. The treasury stood at 1,370,992,827.23 ada in epoch 659.

2. Review-Free Deployment Began on Midnight Mainnet

The announcement came in three posts. The first was at 14:54 JST on October 2, a call from the Foundation’s CTO Sebastien Guillemot: “Calling all builders. Contracts are LIVE on Midnight mainnet.” The Midnight Foundation followed at 16:37 JST, and Midnight’s official account five minutes later. The Foundation’s post narrows the change to two points.

“The next stage of Midnight is here. Permissionless smart contract deployment is now live on Midnight mainnet.” “That means builders can deploy contracts directly without additional security reviews, while contracts can also dynamically deploy other contracts on behalf of users.”

The September “State of the Network” report on Midnight’s official blog restates the change as being able to write and deploy directly to mainnet “without a required security review on Preprod” (the pre-production test network), and still advises developers to “test and deploy applications to the Preprod environment first” before moving to production. Intersect’s weekly update #131 also recorded the milestone, calling October 2 “today.”

How the review worked through September

From the March mainnet launch onward, a team that wanted to go to production ran on Preprod first, then filed an application in the deployment-request folder of Midnight’s improvement-proposal repository, which was merged once a reviewer approved it. The monthly report describes this first stage as one that “prioritized operational stability, security, and developer preparation.” The three Shadow Labz voting contracts covered in the previous issue went through this route on September 23.

The review framework scored each application from 1 to 3 on three risk categories: privacy, value and state space. And the document stated: “Contract deploy request reviews are not audits!”

That gate came off this week.

The other side of an open gate

The earlier review was not an audit. Even so, whether a design holds funds, and whether confidential data could leak, was looked at by a person, one application at a time. From now on, the default is a deployed contract that nobody looked at beforehand, and the judgment about which contract to trust with funds or confidential data moves to users and wallets. Anyone can deploy, and checking for an audit is the user’s job: that is how Cardano mainnet works, and Midnight has moved to the same arrangement over six months.

Contracts that deploy contracts

The second change is about how users come in. The monthly report says applications can now deploy contracts on behalf of end users, “streamlining user onboarding.” For designs that set up one contract per user, such as voting or a personal vault, the deployment step users used to take themselves can now be handled by the application’s own contract.

One point is easy to confuse. On the morning of October 1, the day before, Guillemot had posted:

“As known, the v8 release enables private contracts, with composability (v9) coming after. Thanks to our great audit partners, it look like the composability upgrade (v9) will be also be this year!“

What is expected in v9 is for contracts to call one another and be composed. What began this week is for a contract to create another contract, a different capability. Which version number this transition corresponds to cannot be confirmed from the wording of the announcements.

Last issue’s “soon” arrived in two weeks

The previous issue quoted Guillemot’s September 19 post that contract deployment would “soon” be enabled, and noted that neither a date nor official release notes had appeared. “Soon” turned out to be 13 days. It was also ten days after the release of 1.0.300, the node security patch covered last week.

3. Before the Opening, the Inside of a Release Was Re-Checked

In the week before the opening, Midnight’s developers were checking what sat inside version numbers.

node-1.0.300 was swapped out under the same number

On September 30, this note appeared at the top of the node-1.0.300 release page:

“This is a re-issue of 1.0.300 including an update to Cargo.lock so that the runtime hash matches exactly as on chain.”

The note credits Justin Bons for pointing out the discrepancy. According to the fix commit from the same day, a broad dependency update that came with a ledger library bump had also moved the versions of rand (0.10.0 → 0.10.2) and libc (0.2.184 → 0.2.189) used by the runtime. The source was the same, but the build output had changed. The re-issue pins both back to their original versions.

The release that the previous issue described as “every validator must move to this binary first or fall off the chain” was checked once more, right before deployment opened. For operators, even within “1.0.300,” which file was fetched when now needs to be pinned down by hash.

The new 2.1.0 line reached rc.4

node-2.1.0 produced rc.3 on September 28 (UTC) and rc.4 on September 30. The line assumes a hard fork that moves the ledger from version 8 to 9. The rc.4 release notes list its environment as “none yet; this release has not been through release QA,” and say “no public network runs this release line.” They state that mainnet operators stay on 1.0.300.

On the language side, the Compact compiler compactc 0.35.0 was released on September 29 (UTC). It targets ledger 9, which is not yet on mainnet, and the release notes tell anyone deploying to the current mainnet to stay on the 0.31 toolchain. 0.35.0 includes a change that resolves another contract’s implementation at run time when calling it.

On the wallet side

Lace Midnight Preview passed its announced end date of September 30. Midnight features have moved into Lace itself, and this week’s Lace 2.4 makes Midnight syncing more reliable and lets users inspect the raw transaction data before sending. IOG’s weekly report says generating DUST from a Cardano account holding cNIGHT is “coming shortly after the release.”

4. The k Poll Now Has 17 Pools Against

Should stakePoolTargetNum (k) be raised from 500 to 1000? (SPO poll) is in its 16th day since submission. The previous issue described a split: more pools for, more stake against. In one week that split disappeared. No now leads by count and by stake.

CategoryPrevious (9/26)This issue (10/3)
SPO explicit yes10 pools, 53,185,274 ada14 pools, 55,646,107 ada
SPO explicit no3 pools, 95,984,098 ada17 pools, 505,040,034 ada
SPO not voted9,251,693,095 ada8,737,025,845 ada
SPO always abstain (outside denominator)617 pools, about 11.9 billion ada619 pools, 11,919,381,660 ada
DRep yes18 votes, 101,317,767 ada23 votes, 123,625,124 ada
DRep cast no14 votes, 212,318,456 ada17 votes, 395,391,571 ada
DRep abstain8 votes, 542,686,821 ada20 votes, 1,417,966,305 ada
Committee1 abstain1 yes, 1 abstain

SPO votes this week: 4 yes and 14 no. The yes side gained four pools but only 2,460,833 ada of stake. The no side gained 14 pools and 409,055,936 ada. No divided by yes went from 1.80 times in the previous issue to 9.08 times.

The no votes arrived in clusters.

Recorded (JST)PoolsStake (approx.)Rationale
Sep 26, 19:01OCTASabout 54.82M ada—
Sep 27, 00:13:107 pools: BCSH and BCSH0–BCSH6about 70.56M ada in totalsame document for all 7
Sep 28, 03:542 pools: ATADA, ATAD2 (22 seconds apart)about 130.98M ada in totalsame document for both
Sep 30, 20:57 and 21:03SASA, SASA2about 77.86M ada in total—
Oct 1, 00:04TECHabout 70.37M adayes
Oct 1, 01:25ADAJPabout 1.96M ada—

Seven no votes were recorded in the same second and point to the same rationale. The tickers are sequential too. But the ledger does not comprehensively disclose which pools are in the same operator’s hands. What can be said is “same second, same rationale,” and no more.

The rationales share content as well. Both the BCSH documents and ATADA’s say “I support Neil Davies rationale.” That is the case against raising k which, in the previous issue, the proposer said they had found only after submitting and largely agreed with. ATADA’s rationale adds its own view:

“total misconception of where redelegated ada will flow. it will NOT flow to small/tiny pools.“

The criterion declared in the proposal is whether explicit yes exceeds 50% of active voting stake, with registered stake that does not vote acting as a no. The denominator now stands at 9,347,812,387 ada and yes at 0.60%. Clearing 50% would take roughly 4.62 billion more ada of explicit yes. A little over 8.7 billion ada has not voted, and the deadline is 06:44:51 JST on October 22.

The jump in DRep abstentions to about 1.42 billion ada is the EMURGO and Yoroi votes covered in Chapter 6. The proposal, however, declares that DRep votes do not count toward this poll’s result.

5. Two Committee Members Read the Same Info Action Differently

At 05:14:49 JST on September 27, the third constitutional committee vote arrived: yes on all three pending actions. The rationale names its author as Ace Alliance, with an internal vote of 5 constitutional, 0 unconstitutional. The member’s name is the one the rationale itself gives.

Recorded (JST)Member (term)minPoolCostOpenZeppelink poll
Sep 12, 17:10:17cc_hot1qgsl88a… (799)yesyes—
Sep 22, 02:26:29Tingvard (726)yesyesabstain
Sep 27, 05:14:49Ace Alliance (726)yesyesyes

The column that stands out is the k poll. Two members read the same Info Action differently.

As quoted in the previous issue, Tingvard abstained on the grounds that Info Actions are not appropriate subjects for the committee’s judgment, since their purpose is to gather information and signal stakeholder sentiment rather than to change the ledger.

Ace Alliance reaches the opposite conclusion from the text of the Constitution:

“Under Article III.1.4, the Constitutional Committee is ‘limited to voting on the constitutionality of governance actions, including any proposed or contemplated actions contained within ‘Info’ actions.’ Our review therefore concerns the constitutionality of this poll and of the change it contemplates, not the economic or technical merits of a higher stakePoolTargetNum, which are committed to the Cardano Community, its SPOs, and its DReps to decide, not to the Constitutional Committee.”

The finding is “constitutional.” Neither member weighed in on whether k should be 1000. What differs is whether an Info Action falls within the committee’s review at all. This issue simply sets the two side by side.

The yes votes on minPoolCost and OpenZeppelin are of the same kind: for minPoolCost, Ace Alliance carries forward the analysis it applied to the earlier bundled action (which expired at epoch 653), and for OpenZeppelin it finds the action constitutional after checking the breakdown of 11,443,750 ada for delivery and a 343,313 ada administration fee. Whether the proposals are a good idea is not part of the judgment.

Committee votes on both actions now stand at 3 yes, 4 not voted. On a seven-member committee, clearing two-thirds takes five yes votes: two more members.

6. EMURGO and Yoroi Abstained, and the Denominator Shrank by About 700 Million ada

Over 21 minutes around midday on September 30, six votes were recorded on chain.

Recorded (JST)DRepActionVote
12:39:54EMURGOOpenZeppelinabstain
12:44:54EMURGOminPoolCostabstain
12:48:54EMURGOk pollabstain
12:54:19YoroiOpenZeppelinabstain
12:57:42YoroiminPoolCostabstain
13:00:45Yoroik pollabstain

Voting power, as fetched on the morning of October 3: EMURGO’s DRep 299,505,926 ada, Yoroi’s DRep 418,172,441 ada, together 717,678,367 ada.

Each action has its own rationale, but the content is nearly identical. EMURGO wrote:

“Given the ongoing situation in the ecosystem, responsible governance requires us to act with full clarity and confidence. Until the current situation reaches resolution, EMURGO prefers to withhold judgment rather than vote without the certainty our mandate demands. We will revisit this proposal once the situation is resolved.”

Yoroi’s rationale likewise says it will reassess its position once conditions allow. Neither goes into the merits of the actions, and neither says what “the situation” refers to.

In August, EMURGO stepped back from Cardano governance following the SecondFi incident and said it would de-register as a DRep. On September 26 it announced it had handed operation of seven stake pools to Shunsuke Murasaki.

Abstentions leave the denominator

When DRep votes decide ratification, the denominator is yes plus cast no plus always-no-confidence plus not voted; abstentions leave the denominator. Non-voting stake stays in and in effect works as a no. When a large holder moves from not voting to abstaining, the stake that had been acting as a no comes out of the denominator, and the remaining yes share rises.

Take minPoolCost. The denominator is now 3,817,499,489 ada and yes stands at 17.42%. Had EMURGO and Yoroi stayed in the denominator as non-voters, the same yes stake would give 14.66%. The 2.76-point difference is not new yes votes; it is the denominator moving.

Yes votes themselves did grow, by 12 votes and about 129.83 million ada since the previous issue (cast no rose by 3 votes and about 10.94 million ada). The margin of yes over no widened from 44,553,298 ada to 163,446,522 ada. With two causes overlapping, reading the rise only as “support has broadened” misses half of it.

7. minPoolCost and OpenZeppelin: Nine Days to the Deadline

Both actions take their last votes at 06:44:51 JST on October 12.

CategoryminPoolCost (previous → now)OpenZeppelin (previous → now)Threshold
DRep yes11.77% → 17.42% (48 votes, 665,061,604 ada)2.32% → 2.93% (10 votes, 129,704,259 ada)67%
DRep cast no24 votes → 27 votes, 501,615,082 ada41 votes → 53 votes, 1,431,202,398 ada—
DRep abstain (outside denominator)6 votes → 12 votes, 1,373,729,188 ada7 votes → 9 votes, 761,106,751 ada—
DRep not voted2,514,718,054 ada2,733,110,520 ada—
Committee2 yes → 3 yes2 yes → 3 yes2/3

For minPoolCost, the arithmetic still allows it. Reaching 67% would take 1,892,663,054 ada more yes, equal to 75.3% of the stake that has not voted. This is an economic parameter change, and SPO votes are not required. SIPO’s DRep abstained on September 15, with the rationale published at SIPO DRep: Abstaining on the standalone minPoolCost 75 ADA proposal. All three SIPO pools declare a fixed cost of 340 ada, so there is no mechanical effect on them, and SIPO sits among the “existing 340” pools.

For OpenZeppelin, the arithmetic does not allow it unless votes already cast change. The denominator is 4,430,121,925 ada; even if all 2,733,110,520 ada of non-voting stake turned yes, yes would reach 64.62%. Cast no is 11.03 times yes, up from 9.76 in the previous issue. Votes can be changed until the deadline, so this is as far as the arithmetic goes. If the deadline passes, the action is recorded as “expired” without ratification.

Disclosure: SIPO’s DRep is a party to this action, having voted no on September 25. The no was against this version of the proposal, and the rationale, together with six conditions under which SIPO would vote yes, is at SIPO DRep: Voting No on the 11.78M ADA OpenZeppelin Stack withdrawal.

Treasury figures have not moved since the previous issue. Withdrawals enacted since epoch 613 total 457,395,629 ada, leaving 42,604,371 ada under the 2026 cap of 500,000,000 ada.

8. The Saturation Line and SIPO’s Three Pools

This touches SIPO’s own interests, so the numbers come first. These are mechanical figures: circulating supply on chain on the morning of October 3, 36,786,187,632 ada, divided by k.

kSaturation point (supply ÷ k)SIPO’s three pools (live stake at the end of epoch 658)
500 (current)about 73,572,375 adaall three below
1000 (proposed)about 36,786,188 adaSIPO 53,603,682 ada = above (1.457 times) / SIPO2 25,387,648 ada / SIPO3 24,583,295 ada

SIPO’s first pool fell from 53,862,342 ada in the previous issue to 53,603,682 ada, down about 260,000 ada. Its delegator count is unchanged at 1,112. It moved slightly closer to the line, but the k=1000 saturation point remains below it, and SIPO is on the side that would bear a disadvantage from this change.

SIPO’s three pools and SIPO’s DRep (voting power 89,029,859 ada and 402 delegators on the morning of October 3) have not yet voted on the k poll. When they do, the position and reasoning will be recorded on chain as a rationale, with the full text also on SIPO.TOKYO.

Saturation caps the reward calculation; it does not affect eligibility to produce blocks. In epoch 658, SIPO’s three pools produced 98 blocks: SIPO 48, SIPO2 22, SIPO3 28. Delegators can check today, without waiting for the result, which side of the line their pool is on.

9. Nodes and Tooling

cardano-node 11.1.3: a fix that restores IPv4 read order

On September 29, Intersect released cardano-node 11.1.3 as a stable release. The release notes list one change:

“releases before 11.1.x decoded IPv4s using network order, which 11.1.2 inadvertently changed; this has been reverted to using network order for decoding IPv4s.“

An IPv4 address is four bytes, and reading them in the other direction gives a different address. On the ledger, IPv4 addresses appear in the relay entries stake pools write into their registration certificates. The Cardano Foundation’s September 30 digest says no ledger replay is required.

Intersect’s weekly update #131 states its standing plainly:

“While 11.1.3 is only a bug fix and not a security fix, node operators are reminded that 11.1.2 was a priority upgrade for an issue discovered on the Preprod testnet.” “All operators should now be on 11.1.2 as a minimum.”

The release notes do not contain the word “security” either. The 11.1 line has now had three releases in three weeks.

Next: 11.2, and a constitutional amendment for Dijkstra

The same #131 previews the next step. An 11.2 pre-release is close, and it will contain most of the Dijkstra feature set (the new block format and the Plutus V4 context) but not Leios. It is a release for downstream tooling to begin integration testing, not one that is hard-fork-ready.

And this week, CAP-12 was filed on the constitutional amendment portal.

“Under the current Constitution, only parameters that are explicitly listed in Appendix I can be changed through governance. The new ones are not listed yet, which means that once Dijkstra goes live they would be frozen at their launch values with no way for the community to adjust them.“

CAP-12 adds each new parameter in three steps: what it controls, which voting group it belongs to (including an SPO vote for the security-critical ones), and the range within which it can be moved. #131 describes the change as “purely additive. Nothing in the existing Constitution is altered or removed.” The Parameter Committee estimates around 100 new guardrails for Leios and a further 50 for Peras. Dijkstra will be the first hard fork that requires constitutional changes as well as technical ones.

SIPO’s three pools brought every relay and block producer to 11.1.2 by September 24, meeting the minimum Intersect asks for. All three are registered as Mithril signers and take part in signing from epoch 659 (SIPO updates all nodes to cardano-node 11.1.2). The timing of the move to 11.1.3 will be announced separately.

Other tooling

  • Plutus 1.70.0.0 / 1.71.0.0 (September 29–30), Aiken 1.1.24 (September 26), and Lace extension 2.4.2 and mobile 2.4.0 (September 29) were released. Lace 2.4 lays out, before a swap is confirmed, what leaves the wallet, the fees, where the order goes, collateral and expiry.
  • Leios: IOG’s weekly report (October 2) says the transaction validation benchmark is now a standalone executable that SPOs can run on their own hardware without nix or a Haskell toolchain.
  • Hydra had no new release again this week (the latest is 2.4.1 from September 2). Mithril had no new stable release either.

10. FluidTokens Paused Lending After Its Oracle Was Exploited

At 09:57 JST on September 30, FluidTokens, a lending protocol on Cardano, announced it had paused lending after an attack. A follow-up about an hour later made three points:

“The attacker has been neutralized. We were able to reverse-engineer the smart contract and block it permanently.” “The attack did not involve any smart contract vulnerability. It was caused by an issue with the oracle feed and was limited to a single market.” “Operations should be fully restored within 48 hours.”

A lending protocol sets borrowing limits and liquidation levels from the price of collateral. Exchange prices are not visible from inside the chain, so an oracle has to bring them in. Even if the code works exactly as designed, a price that drifts from the market leaves room to borrow more than the collateral is worth. If the team’s account holds, what was exploited this time was the numbers coming into the code.

In the incident covered in the previous issue, World Mobile Chain, the key that authorizes minting had leaked. Before that, in Hydra and Splash, one assumption in verification had been skipped. This week it was the numbers coming in from outside. Three weeks, three different layers.

Which market, which oracle, what kind of fault, the loss amount, how many lenders were refunded, and what became of the 48-hour restoration estimate had not been set out in a formal post-mortem as of the morning of October 3. A post-mortem would make it possible to tell whether this is a FluidTokens-specific problem or one in data infrastructure that Cardano DeFi relies on more broadly.

11. Entry Standards Aligned, and New Dollars Came In

CIP-113 was merged, and PRIME made it a condition

CIP-113, a standard that gives tokens rules for transfer, was merged into the CIPs repository at 01:58 JST on September 30. It comes three years and eight months after the January 2023 proposal, and its status is Proposed. By requiring a script to run every time ownership changes, it lets tokens carry rules such as freezing, seizure and allow-lists, without a hard fork.

On the morning of September 30, Cardano PRIME stated: “Every app PRIME funds will ship CIP-113.” The reasoning is that once wallets and custodians support it, every funded app benefits. CIP-113 itself, however, does not decide who can freeze or seize. That is set by individual sub-standards, so two CIP-113 tokens can differ: one whose issuer can seize balances, and one where no such action is possible.

PRIME’s RFP deadline was extended by two weeks, to 12:59 JST on October 15.

RealFi launched with three entry points at once

On the night of October 1, RealFi went live on Cardano mainnet. Its pillars are USDrf, pegged to the dollar, and sUSDrf, which earns yield on deposited USDrf. Three entry points opened the same night.

  • Exchange: SundaeSwap launched V4, and placed a Linear Swaps pool that exchanges USDCx and USDrf one-to-one among the first two pools of its staged rollout.
  • Wallet: RealFi is built into Lace.
  • Lending: Liqwid opened RealFi Hub, which handles swapping into USDrf, borrowing against ADA, and depositing into sUSDrf on a single screen.

An open entry point is not the same as open to everyone. Intersect’s weekly update #131 adds: “Its USDrf and sUSDrf tokens are not available to people in the UK, US or EU, so check the terms before you take part.” The value of sUSDrf can go up or down, and yield is not guaranteed.

Disclosure: SIPO takes part in RealFi’s SPO accelerator program as a RealFi alpha ambassador.

12. Organizations and People

  • Intersect’s board election results were published on September 28 after an independent audit. Eleven candidates stood for two seats, and the incumbents Kavinda Kariyapperuma (67 votes) and Adam Rusch (48 votes) were re-elected. 139 members voted (25% of eligible paying members), one vote per member. On-chain actions are weighed by stake; the board is decided by headcount. The unit being counted is different.
  • EMURGO and Yoroi’s seven pools passed to Murasaki under the September 26 announcement. Pool IDs and fee terms are unchanged, and the new names MURA1–MURA7 take effect from epoch 660 (the morning of October 7). The old and new numbering do not line up, so matching by pool ID is the reliable way to check.
  • The Cardano Foundation announced in succession a multi-year partnership with UCLA Anderson (September 28), the delivery of two renewable-fuel tracking applications with Petrobras (September 30), OpenFoodChain with participants including Kraft Heinz (September 30), and a partnership with Japan’s Pacific Meta (October 1).
  • Charles Hoskinson spoke on October 2 at a one-day FinTech summit at United Nations headquarters in New York, organized by the Government Blockchain Association with UN-affiliated bodies. He posted on X “Good to be here at the United Nations” and “Speech at the UN went over well,” and shared a video of the speech. Because a transcript could not be checked against a primary source, the content of the speech is not quoted here.

13. Risk Dimensions

  • Use (Midnight’s open deployment). Contracts on mainnet are now deployed without prior review. Checking where to put funds sits with users and wallets. Whether a contract was audited and whether it could be deployed are separate gates.
  • Operations (Midnight node). node-1.0.300 was swapped out under the same number. The fetched file needs to be identified by hash.
  • Governance (the denominator). EMURGO’s and Yoroi’s abstentions shrank the DRep denominator by about 700 million ada. Of minPoolCost‘s yes share, 2.76 points come from the denominator side.
  • Governance (deadlines). minPoolCost and OpenZeppelin close at 06:44:51 JST on October 12. The committee needs two more members, and minPoolCost needs about 1.89 billion more ada of DRep yes. OpenZeppelin cannot reach 67% unless votes already cast change.
  • Pool economics (SIPO itself). SIPO’s first pool sits at 1.457 times the k=1000 saturation point and would be on the losing side of this change. SIPO has not yet voted.
  • DeFi (inputs). FluidTokens says the cause was oracle data and that no contract vulnerability was involved. There is no post-mortem yet. Anyone with funds in protocols that rely on the same data infrastructure should follow each protocol’s notices until a report makes the scope clear.
  • Operations (Cardano node). 11.1.3 reverses the read-order change in 11.1.2, and Intersect states it is “not a security fix.” The minimum is 11.1.2.
  • Constitution (Dijkstra). Intersect explains that if Dijkstra goes live before CAP-12 is in place, the new parameters would be frozen at their launch values. Technical readiness and constitutional readiness are now on the same schedule.
  • Standards (CIP-113). Within CIP-113, the power to freeze or seize is set by sub-standards. The name of the standard alone does not tell you whether a token is “safe” or “free.”

14. What to Watch Next Week

  1. Epoch 660 boundary — 06:44:51 JST on October 7. The new MURA1–MURA7 registrations take effect. Check an explorer such as Cexplorer for each pool’s display name and whether block production continues uninterrupted.
  2. minPoolCost and OpenZeppelin deadlines — 06:44:51 JST on October 12. Whether the committee’s fourth and fifth votes arrive, and whether minPoolCost yes can take in 75.3% of the non-voting stake. Check each action’s page on gov.tools.
  3. FluidTokens’ post-mortem — the affected market, the oracle’s name, the loss amount and the state of restoration. Check FluidTokens’ official X account (@FluidTokens).
  4. Node Diversity Day and TOKEN2049 — October 6 (organized by the Amaru team, Singapore and online) and October 7–8 (Cardano Foundation booth). Midnight side events fall on the same two days. Check the next Intersect weekly update.
  5. The next Midnight mainnet node release — the rc.4 release notes say the fix for syncing mainnet from genesis is deferred to 1.0.400. Check the midnightntwrk/midnight-node releases page.
  6. Midnight’s deployment-request folder — whether applications stop being accepted, and whether the review framework stays as guidance for users. Check the deployments folder in midnightntwrk/midnight-improvement-proposals.
  7. Enter Midnight City: Tokyo — 15:00 on October 10, Happo-en, Shirokanedai, Tokyo. Registration is subject to approval; check the organizer’s Luma page.
  8. Cardano PRIME RFP deadline — 12:59 JST on October 15. Check Cardano PRIME’s announcements.
  9. SPO votes on the k poll — which way the 8.7 billion ada of non-voting stake moves. The deadline is 06:44:51 JST on October 22; check the Info Action’s page on gov.tools. SIPO’s three pools’ votes and rationale will appear there too.
  10. cardano-node 11.2 pre-release and CAP-12 — the 11.2 pre-release carrying most of Dijkstra, and the first editor review of CAP-12. Check the IntersectMBO/cardano-node releases page and CAP-12’s page on the constitutional amendment portal.

Conclusion

The biggest move this week was Midnight’s. On October 2, the stage that reviewed mainnet contracts one by one came off: builders can deploy without additional review, and contracts can deploy other contracts on behalf of users. The “soon” that the previous issue reported without a date or release notes turned out to be 13 days.

Before the opening, the inside of a release was re-checked. node-1.0.300 was swapped out under the same number so that it reproduces the runtime hash on chain. The new 2.1.0 line and the new compiler both remain outside mainnet. With the gate off, the work of checking which contract to trust has moved to users and wallets. The earlier review was not an audit either, but now even that preliminary step is gone.

On the Cardano side, the question of how votes are counted came up in two places. The k poll went from “more pools for, more stake against” in the previous issue to no leading on both measures. Seven pools voted no in the same second with the same rationale. And two committee members read the same Info Action differently, one as “not a matter for the committee,” the other as “constitutional,” without either weighing in on the merits.

Then EMURGO and Yoroi abstained on all three actions. Their rationales say only that they will withhold judgment until “the situation” is resolved. Because abstentions leave the denominator, minPoolCost yes rose to 17.42%, of which 2.76 points came from the denominator side. Even when the numerator stays the same, the share moves when the divisor moves.

SIPO did not vote on the k poll this week either. Its first pool sits at 1.457 times the k=1000 saturation point, on the side that would bear the disadvantage. When SIPO votes, the position and reasoning will be recorded both on chain and here.

References

Where the text links to SIPO’s own articles, the link is in place. Primary sources follow.

Transparency Notes

  • The k poll’s “9.08 times”: explicit no of 505,040,034 ada divided by explicit yes of 55,646,107 ada. Non-voting stake is not included.
  • The k poll’s denominator and yes share: yes of 55,646,107 ada plus the stake that acts as no (explicit no, always-no-confidence and not voted), 9,292,166,280 ada, gives a denominator of 9,347,812,387 ada and a yes share of 0.595% (shown as 0.60%). Explicit abstentions and the 619 “always abstain” pools are excluded, as the proposal declares. The 8,737,025,845 ada of non-voting stake is the as-no stake minus explicit no and always-no-confidence (50,100,401 ada).
  • Per-pool stake: the per-pool values in Chapter 4’s table are each pool’s active stake for the current epoch, fetched on the morning of October 3, a different path from the action’s tally. They are therefore given as approximations, and comparisons of totals use the tally values.
  • Seven pools in the same second: the text says the seven BCSH pools’ no votes were recorded in the same second with the same rationale URL, but does not say they share an operator. ATADA and ATAD2 are treated the same way.
  • Why “no is X%” is not written: the no share returned by the public API includes non-voting and always-no-confidence stake. The text therefore gives cast no votes only as vote counts and ada amounts.
  • EMURGO’s and Yoroi’s voting power: DRep voting power fetched on the morning of October 3. It may differ slightly from the values at the time of the September 30 abstentions.
  • The 14.66% hypothetical: yes of 665,061,604 ada divided by 4,535,177,856 ada, which is minPoolCost‘s denominator of 3,817,499,489 ada plus EMURGO’s and Yoroi’s 717,678,367 ada. It is not a calculation of what would have happened had the two DReps voted differently.
  • OpenZeppelin’s 64.62%: yes of 129,704,259 ada plus non-voting stake of 2,733,110,520 ada, divided by the denominator of 4,430,121,925 ada. It does not include moves out of abstention or changes to votes already cast.
  • Committee members’ names: what the on-chain record gives is the key hash and term epoch. The names Ace Alliance and Tingvard are the ones given in the rationales attached to their votes, and the text uses them on that basis. The member who voted on September 12 is shown by key prefix, since a self-identification in the rationale has not been confirmed.
  • What a committee “yes” means: Ace Alliance’s rationales state for all three actions that they are judgments of constitutionality. The text does not describe them as support for the proposals.
  • Why EMURGO and Yoroi abstained: the rationales do not say what “the situation” refers to, and the text does not fill that in. The mention of the SecondFi incident is limited to what EMURGO itself said in its August and September 26 announcements.
  • SIPO’s interests: the text discloses that, on the k poll, SIPO’s first pool sits above the k=1000 saturation point and neither the three pools nor the DRep have voted; on minPoolCost, all three pools have a fixed cost of 340 ada, so there is no mechanical effect, and SIPO’s DRep abstained; on OpenZeppelin, SIPO’s DRep is a party, having voted no; and on RealFi, SIPO takes part in the SPO accelerator as an alpha ambassador. SIPO is also one of Midnight’s Nightforce ambassadors.
  • Saturation estimates: about 73,572,375 ada at k=500 and about 36,786,188 ada at k=1000 are mechanical figures, circulating supply on chain on the morning of October 3 (36,786,187,632 ada) divided by k. SIPO’s three pool values are live stake fetched just after the end of epoch 658.
  • Market timestamps and continuity with the previous issue: the October 3 values are from the morning fixed observation at 06:35:29 and the September 26 values from 07:30:11. The previous issue used, as its September 26 end point, values SIPO re-fetched at 07:19:50 before the fixed observation was taken (ADA $0.255395 and so on). This issue starts from the fixed observation taken afterwards, so it does not match the previous issue’s end point. The September 30 crypto record was filled from a different source (Binance spot, USDT-denominated) because the usual source did not respond. ADA at the epoch boundary (−3.13%) is taken at the exact boundary time and differs from the morning values, so it does not match the weekly −6.44%.
  • The word “security”: the cardano-node 11.1.3 release notes and Intersect’s announcement do not describe it as a security fix (#131 states it is “not a security fix”), so the text does not call it one.
  • Date of Midnight’s opening: Guillemot’s post (14:54 JST on October 2), the Foundation’s announcement (16:37), the official account (16:42) and Intersect’s weekly update #131 all give October 2 as the start date. The official blog’s monthly report quoted here, however, shows a page date of September 28 and says “starting today.” When the blog was actually published could not be confirmed, so the text takes its date from the X announcements and #131 and uses the blog only for the substance of the change. The same blog refers to the node as “1.0.3,” while the GitHub tag is node-1.0.300; the text follows the tag.
  • Midnight’s opening and version numbers: whether this opening corresponds to what Guillemot calls v8 cannot be confirmed from the announcements, so it is not stated.
  • FluidTokens’ losses and restoration: the market, the oracle, the loss amount and the number of refunded lenders had not been published as of the morning of October 3, so they are not given. Follow-ups reporting completed refunds or a restart are not within what could be confirmed from primary posts for this issue, so they are not given either.
  • Hoskinson’s speech: the text states that Hoskinson spoke and quotes Hoskinson’s own posts; the content of the speech is not quoted because a transcript could not be checked against a primary source.
  • No ledger replay required: this rests on the Cardano Foundation’s September 30 digest; the cardano-node 11.1.3 release notes do not state it explicitly.
  • NIGHT’s weekly change series: the +85.76% in the text is from the morning fixed observation. CoinGecko’s 7-day figure (as of 07:21 JST on October 3) is +92.18%; the timestamps and series differ, so they do not match.
  • Prices and events: no connection is drawn. NIGHT’s +85.76% is not linked to Midnight’s opening in the same week.

This is not investment advice. For information and research purposes only.

関連記事

Weekly Brief EN
Weekly Brief #25 | Cardano’s k Poll: Three Pools Outweigh Ten by Delegated Stake
Weekly Brief EN
Weekly Brief #24 | Ikigai Cleared the Committee and Expired 1.81 Points Short
Weekly Brief EN
Weekly Brief #23 | minPoolCost Returns Without an SPO Vote