USDD Lowers Minimum Collateral Ratio and Increases Minting Limit Parameter to Enhance DeFi Participation Efficiency

On October 20th, as per official channels, the largest Bitcoin treasury firm Strategy acquired approximately 168 Bitcoins last week at a combined price of $18.8 million, with an average cost per Bitcoin being around $112,051. By 2025, its Bitcoin investment has achieved a return of 26.0%. As of October 19, 2025, Strategy holds a total of 640,418 Bitcoins, with a total acquisition cost of approximately $47.4 billion and an average cost per Bitcoin of about $74,010.

On October 20th, according to official information, the self-custody cryptocurrency platform Exodus Movement, Inc. (NYSE: EXOD) announced today that the company's shareholders can now choose to hold their Exodus Class A shares on the Solana blockchain in the form of common stock tokens with the technical support of the co-transfer agent Superstate. These digital representations are not actual stock entities but rather a digital manifestation of shareholders' existing ownership as recorded by the co-transfer agent. This time, Exodus' landing on Solana is attributed to Superstate's issuance platform "Opening Bell," which enables companies to directly manage tokenized equity on blockchains such as Solana. As the first publicly listed company to offer common stock tokens, Exodus' common stock tokens now coexist on both the Solana and Algorand blockchains, highlighting Exodus' firm dedication to cross-chain functionality (including its own products).

On October 20th, Ethena Labs made an official announcement on social media that the PT tokens for USDe and sUSDe have been listed on the Aave Plasma platform. The supply cap for each token is 2 billion dollars. With the USDT borrowing rate remaining at around 4%, Plasma has now become the premier on-chain venue for users to obtain leveraged PT positions through Aave. It is expected that there will be multiple rounds of cap increases in the near future.

On October 20th, based on official data, on the BSC, the DEX (v3.3) project THENA has achieved a total revenue exceeding $40 million since the launch of its token THE. Nearly 100% of this revenue has been distributed back to THE and NFT holders. During the past three months, in the midst of market volatility, THENA has been distributing an average of over $250,000 to the community each week. In the previous Epoch (October 9th - October 16th), the distributed amount exceeded $370,000, setting a new phase record.

On October 20th, according to official channels, the ETF issuer VanEck has submitted an application for a Lido staked Ethereum ETF (S-1) to the U.S. SEC.

October 20th On-chain dark pool trading platform HumidiFi has emerged as the largest on Solana, setting a record of handling a trading volume of $34 billion within the past month. According to DefiLlama data, HumidiFi has surpassed the $31 billion liquidity protocol Meteora in terms of trading volume and has also outperformed Solana's flagship DEX Raydium ($21 billion). Just three months ago, the daily trading volume of this platform was barely able to break through $1 billion. Dark pool trading platforms (also known as dark pool automated market makers or proprietary market makers) are a kind of trading platform on the Solana blockchain that has witnessed a surge in popularity in recent months. In contrast to the largest decentralized exchange Uniswap, dark pool market makers operate behind the scenes. They usually do not have an official website and do not permit users to provide liquidity to earn exchange fees. These platforms often rely entirely on the liquidity provided by thei