Prop 346 would authorize a one-way AKT token conversion, while staking rewards would end at a later marketplace cutover requiring another vote.
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Ottawa opened a 60-day consultation on draft rules requiring one-to-one reserves and fast redemption from stablecoin issuers, while keeping the ban on paying holders interest.
The change removes an estimated two percentage points of issuance-funded staking APR and freezes about 51.9 million pre-minted developer tokens.
The product moves USDC and peso-pegged MXNB into noncustodial lending vaults, with variable returns and no deposit insurance.
Link says funded balances are held in USDC, while Tempo founder Matt Huang says stablecoins on its blockchain power the feature.
Hyperliquid named Payward its intended first CFTC-regulated HIP-3* deployer, though approval, a launch date, and HIP-3* mainnet are still pending.
Optional onchain allowlists would leave existing markets unchanged; the proposed US contracts still need regulatory approval.
