Web3 Project Updates and Developments

SoftBank-backed Japanese cashless payment company PayPay went public on Nasdaq on March 13, with its stock price rising 15.6% on the first day of IPO, reaching a market cap of $12.37 billion. PayPay has 70 million users and is promoting the combination of digital payments and cryptocurrency through acquiring stakes in cryptocurrency exchanges.

VeChain's StarGate staking platform experienced significant growth post-Hayabusa fork, with a 50.2% reduction in VTHO emissions and a 93.9% increase in active stakers. The network now holds 10.7 billion VET, emphasizing the shift towards a delegation model and new entry-level node tiers which promote wider participation.

Gate News reports that on March 12, Backpack officially announced that it will hold a token generation event (TGE) on March 23.

Gate News Report: On March 12, Ethena announced on March 13 an adjustment to the sUSDe unstaking mechanism. The new mechanism will change the cooldown period from a fixed 7 days since the project's launch to a dynamic model, linked to the amount of liquid stablecoins available in the USDe reserve. According to current reserve conditions, the sUSDe unstaking cycle has been shortened to 1 day. In the future, the cooldown period will dynamically adjust between 1 day and 7 days based on the composition of liquid assets in the USDe reserve.

Playnance's G Coin launches on March 18, aiming to facilitate transactions in its entertainment ecosystem, with over 200,000 holders and significant presale success. The token will support various digital platforms and operates on the PlayBlock blockchain.

Gate News reports that on March 12, Zama and crypto market maker GSR announced that they have completed the first confidential over-the-counter transaction on Ethereum based on the Zama protocol. The transaction achieved encrypted protection of sensitive data such as transaction size and fund flows on the public blockchain. Zama stated that the transaction aims to eliminate "privacy loopholes" for institutional participants caused by on-chain data transparency. Through fully homomorphic encryption (FHE) technology, transaction details remain encrypted on-chain while ensuring transaction verifiability and settlement finality.

UXUY and Flap Reach Strategic Partnership, Focusing on AI Agent Asset Ecosystem, Launching PumpAI Platform to Enable AI Agent Autonomous Token Issuance. AI Agents Possess Sharp Market Insights, Supporting Trading Tax Decision-Making and Diversified Distribution, Driving Community Development. Founder Kevin Emphasizes the Important Transformation and Innovation Potential of AI Agents in On-Chain Ecosystems.

Hyperliquid, a specialized Layer 1 blockchain for DeFi, has seen outstanding growth in Real-World Asset trading, achieving over $1.3B in open interest and $1.4B in weekend volume, positioning itself as a 24/7 trading hub alternative to traditional markets.

Circle’s AI hackathon produced 204 submissions, 1,352 valid votes, and over 9,700 comments in five days. Agents built projects across commerce, smart contracts, and skills using USDC incentives. Experiment revealed rule-breaking, vote collusion, and possible human activity among AI

Gate News reported that on March 12, Puffer has reached a partnership with Anchorage Digital to provide pufETH exposure to institutional investors. This collaboration aims to leverage Anchorage Digital's institutional-grade custody and infrastructure capabilities to enable institutions to access the Puffer ecosystem and its liquid staking products more conveniently.

Lido has integrated its Earn product line into EarnETH and EarnUSD, the latter being its first stablecoin vault supporting USDT and USDC. Since its launch in 2025, it has attracted nearly $250 million in deposits, and Lido DAO will invest $5 million to support the new product.

The Cardano Foundation has released CIP-0113, which allows token issuers to embed enforceable compliance logic directly to native assets on the network. The goal is to enhance regulated tokenization as institutions have been demanding tokens that can enforce features like KYC and AML

Jupiter has plugged in Chainlink’s Data Streams for its 5-minute and 15-minute prediction markets on Solana. While Jup Predict now relies on Data Streams for its short-duration crypto markets, Jupiter has not added Chainlink to its wider DeFi protocol. Chainlink has announced a new

Gate News: On March 12, TON announced that due to the Middle East conflict and security situation in the UAE region, it has decided to cancel the Gateway Dubai event originally scheduled for May 1-2, 2026. TON will process refunds for Gateway tickets within 14 days. TON stated that it is exploring different formats for hosting and aims to hold a Gateway event before the end of this year, with relevant announcements to be released in the near future.

Gate News, on March 12, MoonPay announced it will provide stablecoin signing bonuses to X Games league draft athletes. According to the cooperation plan, 40 athletes will receive a one-time reward of 2500 US dollars in XO Cash. XO Cash is provided by crypto wallet provider

Kraken plans to list PI as Pi Network advances recent protocol upgrades and moves closer to its March 12 upgrade deadline. PI is already listed on OKX, Bitget, HTX, and BitMart, while token unlocks beginning March 12 could increase near-term supply. Kraken has moved toward listing Pi Network

USD1 introduces real-time blockchain verification for stablecoin reserves, addressing transparency concerns following past failures. By utilizing oracle networks for continuous updates, it enhances trust while acknowledging inherent market risks. This approach could reshape stablecoin standards.

Gate News reports that on March 12, OpenClaw founder Peter Steinberger posted on the X platform, praising China's AI innovation speed as "Amazing," and expressed willingness to further develop the "Lobster" project with Baidu. Previously, Peter Steinberger had questioned Tencent's data scraping...

Gate News reports that on March 12, Starknet released the STRK20s technical documentation, detailing its design architecture and core concepts. STRK20s can provide privacy capabilities for any ERC-20 token, supporting Bitcoin, stablecoins, Ethereum, and other ERC-20 tokens to achieve private balances, private transfers, and private DeFi interactions. Currently, Starknet has opened registration for cooperation intentions.

Gate News reported that on March 12, NickAI, an agent trading operating system supported by Galaxy, a digital asset and data center infrastructure company, is about to launch. The system allows users to build AI agents without coding, enabling 24/7 automated trading of cryptocurrencies, stocks, and prediction markets.