Nillion has rebuilt itself around a new product, and this week we read its contracts instead of its roadmap. The product works. Almost nobody uses it yet, and the fee it charges goes to a treasury the team controls. Elsewhere, Warden’s holders voted for a supply cap that doesn’t exist in code yet, and Akash’s community pool lent more tokens to market makers.
What shipped this week
Warden’s holders voted to move WARD to Base. Proposal 6 passed on 15 October 2026 with 66.2% of the Yes and No votes. Warden says supply will be capped at 2 billion, inflation halved to 5% a year for stakers only, and product fees will buy and burn WARD. The proposal carries no on-chain instructions, so none of it’s code yet, and the cap leaves room for supply to nearly double. Warden, Proposal 6
Akash’s community pool is lending more tokens to market makers. Proposal 342 passed on 14 October 2026, moving 1.6 million AKT to the foundation that runs Akash’s market making, for at least one more market maker and more venues. About 4.3 million AKT is already out on earlier loans, and those loans carry call options: one was exercised in September, turning 250,000 AKT into USDT. The pool that funds Akash’s public goods can end up holding dollars in place of its own token. Akash, Proposal 342
Grass opened its first product for AI agents. The Contents API, live on 8 October 2026 behind an access request, takes a web address and returns a clean page a model can read, fetched through Grass’s network of home connections. It’s the first working piece of Grass’s shift toward feeding models at the moment they answer. The launch doesn’t say whether calls are paid in GRASS, and nothing yet ties the revenue to the token. Grass review
Venice’s token now trades on Solana. On 6 October 2026 VVV went live on Solana through Wormhole’s bridge, tradable on Raydium and Jupiter from day one. Older lookalike VVV tokens exist there, so check the address: the official one starts VVV4Ud. Venice hasn’t said whether Solana-held VVV can be staked or used to mint DIEM. Solana Compass
AntSeed took venture money for a token that launched without any. On 6 October 2026 the AntSeed Foundation announced a $2.4M token round led by Spark Capital, with DCG and Venice.ai among the backers. Nobody has said which ANTS the investors get, at what price or on what vesting. When we read Base on 13 October no ANTS had moved to them, and transfers were still switched off. AntSeed Foundation
Nillion’s new product, measured
Nillion now calls itself the home of Encrypted Markets. Its product is the Covenant: an instruction sealed on Ethereum, such as a stop loss or a sealed bid, that nobody can read until a price or time condition is met. Staked Blacklight nodes then open it, and the contract checks the result against a commitment made when it was posted. We read the contracts on 15 October, about a fortnight after launch.
Usage. Eight Covenants had been posted, by three wallets, and four of them came from the address that deployed the contract. It’s a working tool with no meaningful volume yet.
Who gets paid. Nodes earn ETH from an escrow on each Covenant. Each one also pays a flat 64 NIL fee to a treasury held by a 3-of-5 Safe. Our page had said Covenant users never need NIL; they do, but none of that fee reaches NIL holders.
The older product. NIL credits for Nillion’s private database and compute have been bought twice on chain since they launched in April. The last purchase was on 27 May.
Who’s in control. There is no token vote. Four 3-of-5 Safes with no timelock control the token, the Covenant contracts and the fee treasury. Nillion’s own roadmap says the nodes can read a Covenant’s condition until an upgrade due in late 2027.
The cryptography is credible, and Nillion shipped mainnet about a week after its target. Freedom fell from C to D, and Returns slipped a point. Each reading above can be repeated on Etherscan. Nillion review
Biggest movers this week
7-day change as of 16 October 2026.
Only 15 of the 41 tokens we track closed the week up. Heurist’s rise ran on a market trading about a third of a percent of its value a day, and we found no cause we could verify. ElizaOS fell in the week Crypto.com Exchange delisted it, on 12 October. NuNet and ORA stay off the list: so little traded that their quotes are stale.
Gainers:
Heurist (HEU) +75.9%
Walrus (WAL) +47.0%
Olas (OLAS) +14.0%
NEAR Protocol (NEAR) +10.8%
io.net (IO) +9.4%
Fallers:
ElizaOS (ELIZAOS) -30.8%
Morpheus (MOR) -19.9%
Phala Network (PHA) -17.6%
FLock.io (FLOCK) -16.5%
Sentient (SENT) -16.4%
See all movers: ownyourmind.ai/projects/movers/
What we verified this week
We re-checked or corrected evidence on 15 projects since 9 October and moved two scores, both Nillion’s. The sharpest:
Warden burns no WARD. Warden’s docs describe a community tax that is burned. On chain, 2% of block rewards pays into the community pool, and between 1 and 14 October supply rose by every token minted. We had repeated the docs; the page now follows the chain.
Our Morpheus buyback figure read about 60% high. It converted a 30-day dollar total at the current price, so it inflated when MOR fell. We now measure the MOR bought and burned or locked directly on Arbitrum.
One provider led Morpheus every month. Our own inference index shows the core team’s provider.mor.org was the busiest address every month from February to August.
NEAR’s revenue trend was a change of method. DeFiLlama now counts only the burned 70% of gas as revenue, so NEAR’s trailing year fell about 30% on that basis alone while gross gas held flat. We dropped “falling steadily”. We also re-measured how many validators it takes to halt the chain: nine, where we had typed eight.
Nous Research’s CEO is Dillon Rolnick. He signs the company’s fundraise note, and Jeffrey Quesnelle, whom we had named CEO, describes himself as co-founder and CTO.
peaq’s gas index tripled when we counted every block. Sampling four windows a day had missed the bursts, so we dropped the claim that most fees settle outside the EVM.
See the full integrity board: ownyourmind.ai/integrity/
On the watchlist
Whether Warden deploys the contract that holds the 2 billion cap. Until we can read it on Base, WARD stays listed as uncapped.
Whether Covenant use grows past Nillion’s own deployer. We re-read the contract weekly.
Whether Akash or Architect publish volume for Liquid Inference. AkashML became its launch partner on 7 October; no routed volume is public.
Whether IoTeX’s Zanzibar fork lands around 19 October. It switches on on-chain voter rewards.
Whether Bittensor’s reported subnet changes show up on chain. Trade sources reported on 14 October that new subnets’ protection period was cut from 120 to 60 days; we haven’t yet read it from the chain.
From the site
Morpheus inference, month by month. Our page now shows which providers served the network each month, from our own index: ownyourmind.ai/projects/morpheus/inference/.
Fresh podcast episodes for Render vs Akash vs io.net and Privacy is the killer app, re-recorded against the current articles.
The OYM podcast is on Spotify, Apple Podcasts and the major directories under “Own Your Mind”.
Cheers,
Bobski
Own Your Mind. Independent research on decentralised AI. No sponsors.
ownyourmind.ai · @ownyourmindai · @0xbobski
Disclosure: OYM holds AKT, GRASS, MOR, NEAR and VVV.