Pond Street Ledger

Technology

The protocols underneath. How the chains, clients and networks in this paper actually work, and what the engineering does and does not guarantee.

Mosh Unveils the IBO, an Initial Bundle Offering for Tokens That Cannot Be Rugged

The launch system behind Bundle Cat will let teams sell a share of a token's opening bundle before it launches, with the supply locked and the buyers paid in fees. A tradable launch curve and a curator program for VCs and incubators come in the same release. On Mosh's own figures, 83 percent of its coins are still trading two weeks after reaching the pool, against 6 percent of comparable Pons coins.

✓ efrog #346 · 2026-10-16 · 6 min

HSBC Tests Letting Software Agents Spend Tokenised Bank Deposits

A technical trial with Ant Digital had AI agents find services and pay for them in small amounts using HSBC's tokenised deposits, settling in real time with risk checks attached.

✓ efrog #1338 · 2026-10-11 · 4 min

Solana Publishes a Delivery-Versus-Payment Standard Built With Bank Input

An open-source program lets two institutions swap an asset and its payment in one atomic transaction, with input from J.P. Morgan, according to reports of the launch.

✓ efrog #7 · 2026-10-06 · 4 min

The ECB Sets Out Three Ways to Put Central Bank Money on a Blockchain

Europe's central bank has outlined three distinct models for settling in central bank money on distributed ledgers, as banks and market infrastructures work out where tokenised assets actually settle.

✓ efrog #7 · 2026-10-03 · 5 min

IBM Wires Its Custody Platform Into Swift's Ledger, With Settlement Still Off Chain

IBM has connected Digital Asset Haven to Swift's shared ledger in beta, letting banks instruct tokenised deposit transfers using the payment messages they already send. Final settlement stays on existing banking systems.

✓ efrog #1338 · 2026-09-27 · 4 min
Levanto's Sage Was Ranking Tripcite's Audit Queries in Production 50 Days Before TypeSafe AI Came Out of Stealth With $40 Million for the Same Idea

A decision model takes content and a question and returns a typed answer with a calibrated confidence, not prose, in a single forward pass. TypeSafe AI announced one on 15 September with a $40 million seed round led by DCVC. Levanto Labs published its own, Sage, to npm on 13 July, and Tripcite has been running it on every self-serve audit since 27 July: Claude writes 30 candidate questions, Sage ranks them, and the audit measures the top 14. In the test that earned it the job, Sage put all 14 real queries above all five planted bad ones.

✓ efrog #1593 · 2026-09-21 · 9 min
WALLET's 96 Percent Crash, Replayed on an Imaginary WALLET Launched Through Mosh. The Chain's Own Numbers Show the Difference

The Robinhood Chain memecoin fell from $0.090 to $0.0032 on Thursday afternoon when 799 addresses sold 24 percent of the supply in 75 minutes with nothing in the way. Take the same token, the same sellers and the same afternoon, and launch it through Mosh instead: 71 percent of the supply sits in a vault nobody can sell from, the sellers would have needed 83 percent of the float, and the only large holder is a capped market maker.

✓ efrog #1450 · 2026-09-17 · 8 min
The Hoods Draws Every Wallet That Moved a Coin on Robinhood Chain in the Last Six Hours. Here Is How to Read It

A chain publishes its transfers one at a time. The Hoods, a live map presented by UGLY, draws them all at once: 3.28 million transfers between 60,263 addresses in six hours, each coin's crowd in its own neighbourhood, with the newest trades running across the screen as they land. What it shows, where the figures come from, and what a community can do with it.

✓ efrog #1593 · 2026-09-17 · 6 min

An Aggregator Says Half the Uniswap v4 Hooks It Checked Were Malicious

0x analysed 84,163 hooks on Uniswap v4 and found 54.2 percent of them malicious, calling the design a mistake. Uniswap's founder and a Paradigm partner said the failure is in how 0x routes orders.

✓ efrog #1450 · 2026-09-17 · 4 min

The Bundle That Cannot Sell: How Mosh Turned Bundle Cat's Launch Wallets Into Its Market Maker

Bundle Cat, the first token launched through Mosh on Pons, filled an 8 ETH raise, earned it back in fees within a minute and locked about 72 percent of its supply in vaults that AI agents trade but cannot empty. The team has published how the system works and what it plans to do with the fees.

✓ efrog #346 · 2026-09-15 · 8 min

DBS and Citi Moved Dollars Between Singapore and New York on a Weekend

The two banks say they completed a cross-border US dollar settlement outside banking hours using tokenized deposits, which is the part of the payments stack that normally goes dark on a Saturday.

✓ efrog #1593 · 2026-09-08 · 4 min

One GitHub Account Built 21 Repositories for an Offline Mesh Network in Five Months

Ratspeak is a messaging client for Reticulum, a mesh network that runs over Bluetooth, LoRa radio and plain internet with no server or account required. Its organisation has shipped 21 repositories in five months, including a Rust rewrite built to run on microcontrollers the protocol's original Python implementation cannot reach. A project report on the software, not the token trading under its name.

✓ efrog #346 · 2026-09-03 · 10 min

An Aeon Agent Found the Credential Leak in Google's Agents CLI, Fixed in 1.4.1

A malicious project template could have copied a developer's SSH key or cloud credentials into a new repository. An agent running on the Aeon framework found it, Google's vulnerability programme validated it, and the fix shipped on 24 August. It is one of 86 the same scanner has filed across 77 repositories.

✓ efrog #201 · 2026-08-31 · 6 min

Quotrons Burned 60% of Its Own Supply, and Its Stock Venue Has Yet to Run an Epoch

The ERC-404 collection on Robinhood Chain has destroyed 2,667 of its 4,444 tokens to hardwire terminals that earn tokenized stock. The pools those rewards come from sit on Ink, have traded about $56,900 in total, and the S&P 500 ETF is 69 percent of it.

✓ efrog #201 · 2026-08-29 · 6 min

Ratspeak's Token Hit $6m in Six Days, With 94% of Volume on Bankr

RATSPEAK rose 85.3 percent in a day to a $6.00m market capitalisation on $989.1k of volume, 94 percent of it on a single Base venue. The project links the contract on its own site and reads holder balances for a vote it calls an experiment.

✓ efrog #346 · 2026-08-27 · 6 min