Dogecoin Gets an App Layer as DogeOS Opens Testnet

DogeOS opened the public testnet for its Dogecoin application layer, a trial environment where developers build before real money is involved. The team behind the MyDoge wallet founded the project, running it as a separate layer rather than altering the coin.

Documentation describes an application layer rollup on a zkVM, software generating cryptographic receipts that transactions are valid. It is EVM-compatible, so smart contracts, wallets, and tooling built for Ethereum work there, with fees paid in DOGE and a faucet dispensing 42.069 daily.

Teams already building include Superposition Finance for lending, Derps for perpetuals, USDoge as a collateral-backed stablecoin, and Snag aggregating prediction markets. Mini-game publisher PlaysOut rounds out the list, having planned roughly 15 Doge-themed casual titles.

Founder Jordan Jefferson called it the start of Dogecoin's evolution from asset to ecosystem, while Foundation director Timothy Stebbing stressed base-layer purity must stay intact. No mainnet date is set, with the coin down roughly 75% from its peak.

Robinhood to Launch Perps and Weekend Stock Trading

Robinhood will enable perpetual futures for eligible US users within months, covering bitcoin, ether, solana, XRP, dogecoin, ADA, LINK, and HYPE. Bitstamp supports the offering at 0.01% per trade through year end, with 10x leverage on the majors.

Vlad Tenev called it America's first true perps, settling profit and loss every 15 minutes. The platform also plans 24/7 weekend equities through Bruce ATS, pending review, plus Agents letting users build trading bots inside Robinhood.

Base Ships Cobalt Upgrade With Conditional Transactions

Base activated its third mainnet upgrade, introducing Validity Transactions that stay dormant until conditions are met. A trader could submit a swap eligible only if pool price reaches a set USDC value before a given block.

Cobalt also extends the B20 standard with Composite Policies combining allowlists and blocklists, scheduled multiplier updates for stock splits, and a seizure function with onchain memos. Base plans to cut block times from two seconds to 200 milliseconds.

White House Weighs CFTC Rules on Event Contracts

The CFTC filed two proposals with the Office of Information and Regulatory Affairs, seeking to extend the swap definition to event contracts while excluding casino-style gambling products. The agency is asserting jurisdiction despite mounting state resistance.

The gambling rule sits at interim final stage, taking effect immediately without notice and comment, which lawyer Daniel Wallach warned could invite litigation. States argue prediction markets operate illegally locally, and New Jersey has asked the Supreme Court to intervene.

Data of the Day

Tokenized real-world assets reached $34.5 billion by August 31, up more than 140% year over year, according to Dune. Onchain patterns diverge sharply from traditional markets, with single stocks taking 81% of tokenized equity supply against 19% for ETFs.

Cash equivalents still dominate supply while equities trade most actively. Binance Research separately put tokenized equities at $4.43 billion, up 390% this year yet equal to just 0.0029% of the $151.9 trillion global listed market.

More Breaking News

• The FCA opened crypto authorization applications, giving UK firms until February 2027 to apply, with existing money laundering registrations not converting automatically.
• EIP-8363 was pulled from Hegota after contributors argued a fork scoping exercise could not settle issuance policy, with staking yields at stake.
• Near Intents lost $3.8 million to a deposit layer bug, days after blocking a $50 million swap from the Bitget attacker, with NEAR falling nearly 9%.
• A nine-day $3.1 billion streak ended with $148.7 million exiting, though bitcoin ETFs still hold over $100 billion and $970 million year to date.
• Illinois agreed to delay its tax six months to July, pending judicial approval, as industry groups press constitutional challenges against the 0.2% levy on digital asset activity.
• Bitwise argued the bill's failure helped, since stalling the Clarity Act preserved stablecoin rewards and prompted swifter SEC moves on tokenized stocks.
• MetaMask exited its Lido validators over an infrastructure compromise, with Lido saying returning ether could take up to 45 days.
• Kalshi is ending volume incentives amid wash trading allegations, even as Kalshi volume hit a record $52.98 billion in September.
• New York and Wyoming signed a pact coordinating licensing and examinations, offering expedited review to US firms regulated three years in either state.
• EU authorities opened eleven actions against games including Minecraft and Candy Crush over in-game currency pricing, with cryptocurrencies explicitly carved out of the guidelines.