SDとは

On October 6, the Solana Foundation announced the launch of Solana DvP (Delivery-versus-Payment), an open-source custody program aimed at financial institutions, providing a Solana-based Delivery-versus-Payment (DvP) settlement API. Released under the MIT license, Solana DvP aims to introduce the settlement certainty required by financial institutions into public chain infrastructure, enabling atomic settlement, isolated custody, and deadline control through standardized solutions. The Solana Foundation stated that previously, institutions relied on customized smart contracts for on-chain transaction settlements, while Solana DvP seeks to replace this model with a unified standard. J.P. Morgan provided insights on institutional settlement practices and needs to the Solana Foundation. The Solana Foundation indicated that this project combines J.P. Morgan's experience in securities settlement with Solana's performance in tokenizing real-world assets. Solana DvP serves as a foundational mechanism for securities settlement, ensuring that assets and cash are transferred simultaneously, thereby eliminating principal risk. Traditional markets often require multiple stages involving clearing houses, depository institutions, and custodians, with settlements taking several days and tying up funds. In contrast, Solana DvP aims to compress this process into a single atomic transaction, where assets and funds are settled simultaneously, or the transaction will not be completed, achieving finality in seconds. Solana DvP supports SPL Tokens and Token-2022, as well as regulatory features required by issuers, such as permanent authorization, pausable tokens, and Transfer Hooks. Any two trading counterparties can use this program through settlement agents like banks, custodians, or trading platforms. The Solana Foundation stated that Solana DvP has completed external security audits and is now ready for real fund usage, with plans to further incorporate privacy features to ensure confidential transaction settlements. The Solana Foundation is currently recruiting design partners and early participants in preparation for the official launch.

On October 6, CNBC reported that Democratic Congressman Don Davis from North Carolina proposed the "Ban on Betting on One's Own Election Act" on Monday, aiming to prohibit federal office candidates from trading contracts related to their own elections in prediction markets. Violators would face a fine of $10,000 or three times their net trading profits, whichever is higher. This proposal stems from the case of Davis's Republican opponent, Laurie Buckhout, who was previously penalized by Kalshi for trading contracts related to her own candidacy. Buckhout reached a settlement with the platform in August, paying just under $2,600 in fines and being suspended from using Kalshi for three years. She stated at the time, "I did bet on myself, indeed. It was a stupid mistake." The prediction market platform had previously imposed its own restrictions on candidates trading in their own election contracts to prevent insider trading. Davis hopes to formalize these restrictions into law. However, both the House and Senate plan to reconvene only after the midterm elections, making it unlikely that this proposal will be implemented during the current election cycle. The Senate passed a resolution in April banning senators and staff from participating in prediction market trading, but it did not cover candidates who are not current senators.

Crypto trader Ansem stated that he believes there is limited value in directly correlating the current cycle with the market conditions of 2020, 2023, or 2024. For him, the environment most similar to the present is the DeFi expansion of 2020 to 2021, during which a brand new business sector brought billions of dollars into the blockchain. In the current cycle, stablecoins, particularly tokenized stocks, are opening new markets and attracting participation from retail investors, institutions, and developers. This new sector will bring new capital flows, products, and a significant amount of speculative activity, which is the framework he uses to analyze the current cycle.