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Editor’s Note — added 20 May 2026 This page is retained as a historical record. The work described here was carried out by the NBW Foundation (formerly the Elastos Foundation) — not by Elastos DAO. Elastos DAO did not issue, fund, operate, guarantee, or approve BTCD or any of the activity reported on this page. For the current position of Elastos DAO and Elacity Labs, please read: Elastos, Where We Stand Today. About this specific update: This update detailed the USDT-to-BTCD exchange mechanism, BTCDVault contracts, Gold-Silver Minting (GSM), and a fee-distribution split of “70% to project team, 30% to Elastos Foundation.” All BTCD work and fee economics described here belong to the NBW Foundation. Elastos DAO is not a counterparty to any of it. |
This week, Elastos engineering teams advanced both strategic preparation and technical milestones—building the foundations for a multi-scenario stablecoin ecosystem and a fully decentralized media economy.
The BeL2-NBW team focused on preparing diversified solutions around Elastos DAO Proposal #196, enhancing Gold-Silver Minting (GSM), and designing the USDT-to-BTCD exchange mechanism. Meanwhile, Elacity Labs reached smart account compliance with Particle Network and made major progress toward Lit Protocol–powered decentralized licensing, paving the way for a censorship-resistant, serverless media stack.
BeL2-NBW Team
Strategic Multi-Scenario Planning
- Prepared technical solutions for future paths of DAO Proposal 196, including ECO chain dual gas fee design
- Explored merge mining → independent public chain transitions for long-term network autonomy
- Optimized fee distribution logic:
- 7% annual stablecoin fee with 1% for risk hedging options
- 70% to project team, 30% to Elastos Foundation[1]
- Gas contract automation for revenue and ELA buyback-burn
Stablecoin System Enhancements
Gold-Silver Minting (GSM)
- Completed testing of simultaneous ELA and FIST staking
- Optimized collateral ratio flexibility, from 40% to 65%
- Updated GSM user guides and staking contract parameters for risk control
USDT-to-BTCD Exchange
- Developed and tested BTCDVault contracts for 1:1 USDT → BTCD minting[2]
- Designed cross-chain bridging for multi-chain USDT access
- Enhanced liquidity management and risk mitigation mechanisms
Automated Services
- Advanced Issuer auto-signing service to auto-seize BTC after overdue repayment (in progress)
- Tested 30% interest extraction and distribution during repayment events
Mainchain Security & ECO Chain Research
- Fixed illegal proposal bugs in mainchain BPoS nodes
- Strengthened abnormal event detection and handling for consensus nodes
- Researched ERC-4337 account abstraction on ECO chain for dual gas fee support (PGA as gas, ELA as final settlement asset)
- Designed gas proxy payment + auto-exchange mechanism to improve UX
Infrastructure & Community
- Deployed backup browser nodes (ELA, ESC, EID) with rapid recovery setup
- Cleaned and optimized AWS resources, reducing costs
- Participated in DACA hackathon, providing tracks, review processes, and developer documentation
- Recorded BTCD protocol operation videos and updated PGP + BTCD deployment guides
Elacity Labs WCI
Smart Account Compliance & Lit Protocol Integration
Smart Account Breakthroughs
- Achieved full ERC-4337 compliance for minting, approvals, and license flows
- Fixed _msgSender context issues and signature validation for abstracted ownership
- Deployed updated Operative and Channel contracts to support bundled transactions
Lit Protocol CEK Integration
- Progressing toward serverless, decentralized key handling for media playback
- Defined push + retrieval phases for CEKs via Lit nodes
- Scoped C/WASM player security layer to handle session-signed CEKs
- Planned legacy crypto fallback for backward compatibility
Repository & Infrastructure
- Resolved staging and live server instabilities
- Advanced global code review for frontend, backend, and smart contract alignment
- Prepared CI/CD and repo migration for elastos.pc2.net
Weekly Highlights
- Smart account license flows now work end-to-end for abstracted accounts
- Signature and ownership validation stabilized
- Lit CEK push and retrieval workflow defined
- Hardened WASM decryption path scoped for player core
- Infrastructure and code review aligned across the stack
What’s Next
BeL2-NBW
- Deploy Issuer auto-signing for overdue BTC liquidation
- Deepen GSM testing and USDT-BTCD liquidity optimization
- Complete ERC-4337 contract feasibility verification on ECO
- Prepare mainchain illegal proposal fix for production rollout
Elacity Labs WCI
- Implement player-side Lit CEK retrieval + WASM decryption
- Finalize bundled transaction stability for smart accounts
- Progress repo migration + CI/CD for ElastOS integration
- Continue frontend UX refinement for universal accounts
Why It Matters
This week’s progress fortifies the Elastos ecosystem on two fronts:
- Stablecoin System Evolution
- Multi-token collateral and USDT conversion open liquidity floodgates
- Dual gas and cross-chain prep ensure resilience under all governance outcomes
- World Computer & Elacity Media Sovereignty
- Smart accounts abstract wallets for frictionless access
- Lit Protocol removes the final centralized key dependency for DRM
- Infrastructure aligns for an unstoppable, self-sovereign digital economy
Explore What’s Live
- Stream and mint on Elacity: https://ela.city t
- Essentials Wallet: https://elastos.net/wallet
Footnotes
- [1] “Elastos Foundation” here means the entity that now refers to itself as the NBW Foundation. The fee-split was internal to the NBW Foundation and its BTCD project team. Elastos DAO is not a counterparty to, beneficiary of, or party to this arrangement.
- [2] BTCDVault contracts were developed by the NBW Foundation’s BeL2-NBW team. Elastos DAO did not commission, audit, or approve these contracts.
