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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