Key Insights:
- Base integrates own codebase and plans six upgrades annually moving forward.
- Moonwell loses $1.78M after AI-generated oracle pricing error exploit.
- Jupiter DAO votes on 2026 JUP airdrop cancellation proposal.
This week’s crypto update covers Base’s move away from the Optimism Superchain, a Moonwell exploit tied to AI-written code, and a Jupiter DAO vote on its 2026 airdrop. Other developments include protocol fee proposals, revenue data, and project shutdowns.
The announcements span layer-2 networks, DeFi lending, governance, and tokenized assets. Several projects outlined structural changes or operational decisions.
Base Shifts From OP Stack, ether.fi Plans Migration
Base said it will integrate key network components into its own codebase. Node operators will follow Base release versions instead of Optimism’s. The network will gradually separate from the OP Stack while remaining an OP Enterprise customer.
Base plans to increase upgrade frequency from three to six times per year. Future hard forks aim to transition from Optimistic Proofs to TEE and ZK proofs. The network will keep Stage 1 Rollup status and add independent signers to its Security Council.
ether.fi also confirmed plans to migrate its crypto debit card product, Cash, to Optimism’s OP Mainnet. The migration covers over 70,000 active cards, 300,000 accounts, and more than $160 million in total value locked. The company stated that user funds will remain secure during the move.
Moonwell Exploit Linked to AI Code
Smart contract auditor pashov reported that Claude Opus 4.6 generated vulnerable Solidity code that led to a $1.78 million exploit on Moonwell. The cbETH price was incorrectly set at $1.12 instead of near $2,200.
The pull request shows the code was co-authored by Claude. Yu Xian of SlowMist described the issue as an oracle pricing formula error. Moonwell launched a governance proposal outlining partial repayment from the Moonwell Apollo Treasury and additional repayment through protocol revenue.
The proposal also offers stkWELL compensation to affected MFAM holders at a 1:1.5 ratio. The case has been described as one of the first exploits tied to “vibe-coding.”
DAO Vote, Fee Proposal, Revenue Data
Jupiter DAO opened a vote on whether to cancel the 2026 Japuary airdrop. One option keeps the 200 million JUP distribution. The other returns 700 million JUP to a community multi-signature wallet. Voting closes February 22.
Uniswap proposed expanding protocol fees to additional v2 and v3 pools. Hyperliquid reported $832.9 million in last twelve months revenue with a $7 billion market cap.
Payward disclosed that xStocks has surpassed $25 billion in cumulative trading volume. ZeroLend and Polynomial also announced plans to wind down operations and urged users to withdraw assets.
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