---
title: "Radix Week in Review: Four Validators, One Transaction"
url: "https://radix.wiki/blog/week-in-review-2026-09-27"
updated: 2026-09-27
license: CC-BY-4.0
license_url: "https://creativecommons.org/licenses/by/4.0/"
version: "1.1.1"
---

# Radix Week in Review: Four Validators, One Transaction

| Week of | 21 to 27 September 2026 |
| --- | --- |
| Top story | The Radix DAO’s ratification vote opened, and one transaction queued fee rises on four validators holding 418.8M XRD. |

## The week in brief

- The vote to ratify the Radix DAO’s Charter and Governance Framework opened on 25 September and closes on 2 October; by the morning of 27 September it had 70% of the turnout it needs.
- The [Radix Foundation](/ecosystem/radix-foundation)’s consultation on about 443k USDC of recoverable bridge collateral passed its temperature check with 831.9M XRD for and none against.
- MIDAO submitted the RADIX DAO LLC documents to the Marshall Islands on 21 September, with formation expected about 30 days later.
- One transaction on 23 September queued fee rises on [Radstakes](/ecosystem/radstakes), [RadixStake](/ecosystem/radixstake) and the two validators [CaviarNine](/ecosystem/caviarnine) used to run: 418.8M XRD between them, more than any single validator holds.
- The lead developer of [hyperscale-rs](/contents/tech/research/hyperscale-rs) set out how Babylon would move onto the new engine: transform the ledger’s data at genesis and rebuild the contracts.
- Three claims on this series’ ledger came due or settled early, and all three hit.

Most of what happened this week was people voting. The community-run DAO that is taking over from the Foundation put its founding documents to a binding vote, the Foundation asked token holders what to do with money it may recover from the August exploit, and the paperwork for the DAO’s legal entity went to the registry. Each of those is a step the process has been waiting on since August.

The ledger had its own story. Validator fees are set by whoever holds a validator’s owner badge, and one transaction showed four validators, listed under four names, taking their fee changes from the same signing.

## Governance: three votes and a filing

### The ratification ballot

GP-PRE-1 is the proposal that ratifies the Radix DAO’s Charter and Governance Framework, the [documents that set out how the DAO decides things](/ideas/radix-network-dao-charter). Its temperature check, the first and non-binding stage, passed, and the [Radix Accountability Council](/ecosystem/radix-accountability-council) (RAC), the transition council running the handover, [opened the binding vote on 25 September](https://t.me/RadixAccountabilityCouncil/1084). It runs for seven days, to 15:18 UTC on 2 October, on the [DAO’s voting site](https://vote.radixdao.org/proposal/0). It passes only with a quorum of 10% of eligible voting power, set at 1,351M XRD, and 66% of votes in favour. On the morning of 27 September a community member [put turnout at 70% of the quorum](https://t.me/radix_dlt/1005197) and the wiki's reading of 26 September found no votes against.

Since 26 September [radixdlt.com and radixdao.org carry a header](https://t.me/radix_dlt/1005171) pointing visitors to the ballot. Until ratification the DAO stays in its transition period and its community decisions stay advisory; the council says ratification is required before a permanent council can be elected.

### The recoverable USDC

When the Hyperlane routes were shut on 31 August, the attacker’s largest transfer of bridged USDC out of Radix was still in flight. The wrapped hUSDC was burned on Radix, but the USDC that would have paid it out on the other side was never released, and the Foundation believes it can recover about 443k USDC of it. On 22 September it [asked the community](https://t.me/RadixAnnouncements/2781) how to allocate the money: back to the accounts that held hUSDC, shared across everyone who held any of the six bridged assets, or into the DAO treasury. Temperature check #7 [closed on 27 September](https://consultation.mountain-top.live/tc/7) with 831.9M XRD for and none against, so the options now go to a governance proposal. The [drain page](/contents/history/hyperlane-asset-drain-2026) has the detail, and the Foundation says it will not reopen the [Hyperlane](/ecosystem/hyperlane) routes until the collateral is secured.

The argument in the main Telegram channel ran mostly between the first two options. One holder [argued](https://t.me/radix_dlt/1004953) that hUSDC was never stolen, since its collateral survived, so it should go back to the people who held it; others said the losses should be shared. The temperature check only decided that the question goes forward.

### The legal entity

The RAC reported on [21 September](https://t.me/RadixAccountabilityCouncil/1056) that MIDAO, the Marshall Islands service provider, had submitted the RADIX DAO LLC documents to the government, and put formation about 30 days away, around 21 October. The [incorporation card](/ideas/dao-incorporate-duna-llc) tracks the steps. The entity and the ratification are separate: the proposal on the ballot ratifies the framework, and the council forms the company under the mandate it already holds.

## Four validators, one transaction

A Radix validator is controlled by an owner badge, and changing its fee needs a proof of that badge. For Radstakes, RadixStake, and the validators CaviarNine ran before it closed, now renamed Sirius and Polaris, the badge is not held in an account. Each sits in a component of a blueprint called AccessManager, which produces a proof of the owner badge for whoever presents that component’s own role badge.

On 23 September at 14:35 UTC [one transaction](https://dashboard.radixdlt.com/transaction/txid_rdx1ksxuuge5ca3qc7ghuermxzrey07yz2tjhyffwx4yzfge3ulpg74sm2t92u) did that four times. It presented four role badges, three from [one account](https://dashboard.radixdlt.com/account/account_rdx12xlywsxry0hprudq4cygfjatr9hq5t32akva40j8fuwk4hju5y77lu) and one from [a second](https://dashboard.radixdlt.com/account/account_rdx12xw5tgy89vqhg6s0eawvcrayd74rvkuyhapf9e7pv6dvky9ee2frt5), so it carried both accounts’ signatures, and called update_fee on each validator in turn.

RADIX WIKIOne Signing, Four FeesWEEK ENDING 2026-09-27ONE TRANSACTION, 23 SEPTEMBER, EPOCH 343,389Each step proves a role badge, opens a component holding the owner badge, calls update_fee.SIGNERHOLDS THE OWNER BADGEVALIDATOR · FEE QUEUED · STAKEAccount AAccessManager 1Radstakes25% → 40% 93.3M XRDAccount BAccessManager 2RadixStake14.9% → 29.89% 107.9M XRDAccount AAccessManager 3Sirius (was CaviarNine-1)0% → 25% 106.1M XRDAccount AAccessManager 4Polaris (was CaviarNine-2)0% → 25% 111.5M XRDCOMBINED, AGAINST THE LARGEST SINGLE VALIDATORSThe four, one transaction418.8MSRWA256.6MAstrolescent234.3MREDDICKS NODE221.8MAll four increases take effect together at epoch 347,421, around 7 October 2026.The four hold 8.9% of active stake; counted as one, a third of stake is held by 7, not 8.Gateway and radixscan, epoch 344,501, state version 560,016,610.radix.wiki

Transaction txid_rdx1ksxuuge5…t92u, committed at epoch 343,389 on 23 September 2026. Stake read at epoch 344,501.

| Validator | Fee now | Queued | Stake |
| --- | --- | --- | --- |
| Polaris (was CaviarNine-2) | 0% | 25% | 111.5M XRD |
| RadixStake | 14.9% | 29.89% | 107.9M XRD |
| Sirius (was CaviarNine-1) | 0% | 25% | 106.1M XRD |
| Radstakes | 25% | 40% | 93.3M XRD |

A fee increase waits a fixed 4,032 epochs, about 14 days, before it applies, so four requests filed in one transaction all land at epoch 347,421, around 7 October. The four validators hold 418.8M XRD, 8.9% of active stake and more than [SRWA](/ecosystem/srwa), the largest single validator, at 256.6M. Whoever signed this held the keys to both accounts, or two parties signed one transaction together; either way, the register’s four names act as one when it comes to setting fees. Delegators can unstake or move before the new fees apply.

### RadixTalk

A separate transaction on 26 September [changed the RadixTalk validator](https://dashboard.radixdlt.com/transaction/txid_rdx1drj805dypsq9jsdyyxhfdsl526pmran653eul4msw7cf3fsxlw6qqfc920), which describes itself as the official validator of the [RadixTalk](/ecosystem/radixtalk) forum, in one step: it queued a fee rise from 1.5% to 50% at epoch 348,297, around 10 October, replaced the validator’s signing key, and started unlocking 242,771 of the owner’s stake units. It holds 73.0M XRD. The new icon it set is hosted on cadwynbloc.com, the website Sirius and Polaris also name. Its owner badge is in an ordinary account, not in an AccessManager, and that account played no part in the 23 September transaction.

## Hyperscale: how Babylon would move

[hyperscale-vm](/contents/tech/research/hyperscale-vm) is the new execution engine flightofthefox is writing for hyperscale-rs, the community-built sharded network that is the leading candidate to deliver Xi’an. It needs every transaction to declare in advance which state it will touch, which the Radix Engine cannot do, so contracts written for today’s mainnet will not run on it unchanged. Asked on 24 September how the move would work, he [answered](https://t.me/hyperscale_rs/12978) that all ledger data, accounts and assets included, would be transformed at genesis, and that developers might need to rebuild their contracts. Contracts nobody rebuilds before then [could be rebuilt later](https://t.me/hyperscale_rs/13028) and switched on by a vote on the beacon chain, and mainnet dumps could be replayed on test networks so everyone can check the result.

He declined to size the migration until the engine is closer to stable, and said there will be no public backlog. The repository took 31 commits this week, on all seven days, all from him; hyperscale-rs took none. In the week before the halt the same repository took 338.

> "Sure, why not build on Babs. 99% of the code of a dApp is not contract code. And 99% of the work required to make a dApp successful is not coding."
> — flightofthefox, hyperscale-rs lead developer, in the hyperscale.rs Telegram, 24 September 2026

## This week on the wiki

Read the [hyperscale-vm](/contents/tech/research/hyperscale-vm) page, which the wiki first published on 24 September. It explains the engine in plain terms: why it needs each transaction to declare its state up front, how its five access modes let a thousand deposits into one vault run in parallel, and what it says about Scrypto, which it will not run. With the migration now being discussed in public, it is the page to read before joining that argument.

Pages edited in the seven days to 27 September:

- [The Network, Week by Week](https://radix.wiki/contents/tech/operations/network-weekly)
- [Caper](https://radix.wiki/ecosystem/caper)
- [Wiki Maintenance Log](https://radix.wiki/contents/tech/operations/wiki-maintenance-log)
- [Hyperlane Asset Drain and Network Halt (August 2026)](https://radix.wiki/contents/history/hyperlane-asset-drain-2026)
- [3. Authorization and Access Rules](https://radix.wiki/developers/scrypto/03-authorization-and-badges)
- [4. Events, Metadata, and Royalties](https://radix.wiki/developers/scrypto/04-events-metadata-royalties)
- [GenkiPool](https://radix.wiki/ecosystem/genkipool)
- [Leafnode](https://radix.wiki/ecosystem/leafnode)
- [Verifiability](https://radix.wiki/policy/verifiability)
- [Marketing WG · Redesign & self-host the Radix website](https://radix.wiki/ideas/dao-website-redesign)
- [Radix DAO Charter](https://radix.wiki/ideas/radix-network-dao-charter)
- [Staatenlos Node](https://radix.wiki/ecosystem/staatenlos-node)

## The week on the ledger

Read live from the Radix Gateway at epoch 344,500, state version 560,016,471, on 27 September 2026.

| Reading | Value | Week on week |
| --- | --- | --- |
| Staked XRD | 4.95B XRD | +1.8% |
| Validators holding a third of stake | 8 | no change |
| Top ten share of stake | 39.27% | −0.76 points |
| Validators charging a fee they do not store | 78 | −3 |
| Ociswap volume, seven days | 3.16M XRD | −65.1% |
| Commits across tracked repositories | 31 | −92.4% |

Seven fee changes are queued, on 525M XRD of stake. [Ociswap](/ecosystem/ociswap) volume fell to 3.16M XRD across 1,078 swaps,.

RADIX WIKIThe Week on the LedgerWEEK ENDING 2026-09-27STAKED XRD4.95B+1.8%36.6% of all XRDBIGGEST STAKE MOVE+19.10M XRDof +86.54M network-wideA THIRD OF STAKE8 validatorstop 10 hold 39.27%OCISWAP 7D VOLUME3.16M XRD−65.1%1,078 swapsSTAKE CONCENTRATIONThe largest 8 validators together hold a third of all staked XRD.Largest 256.62M XRD – twelfth 106.11M XRD.FEES IN MOTION78 validators charge a fee different from the one stored in their substate – 58 ofthem active, with 2.74B XRD staked.Radix Charts V22.5% → 15% at epoch 345,107 · 23.59M XRD stakedDoItForDan5% → 15% at epoch 345,108 · 9.57M XRD stakedPolaris0% → 25% at epoch 347,421 · 111.46M XRD stakedTHE SERIES SO FARStaked XRD4.95BOciswap 7d volume3.16M2026-08-16 → 2026-09-27, one reading per weekTHE WEEK IN THE REPOSITORIESCOMMITS31−92.4%1 contributorLINES CHANGED10.9K+5.3K / -5.6KBUSIEST REPOSITORYhyperscale-vm31 commitsDAYS WITH A COMMIT7 of 71 active reposEpoch 344,500, state version 560,016,471. Repositories 2026-09-21 to 2026-09-27.radix.wiki

The week on the Radix ledger – read at epoch 344,500, state version 560,016,471.

## Concentration watch

Counted by validator, eight hold a third of all staked XRD, the same as in every reading since 16 August, and the largest ten hold 39.27%. A third is the line that matters, because a group holding more can stop the network committing rounds. Counted by who signs, the number is lower: treat the four validators in this week’s transaction as one holder and seven hold a third of active stake. The register cannot show that on its own, because it lists validators, not the people who control them.

## The ledger

Three claims settled. **Daffy (Supreme)’s fee reaches 20% at epoch 344,149: hit.** Read at epoch 344,501, the Gateway returns an effective fee of 0.2 on 51.6M XRD and radixscan agrees; the stored factor still reads 0.05. **The RAC publishes its report on the exploit and restart: hit.** The [incident report](https://www.radixdlt.com/blog/public-incident-report-vault-authorisation-vulnerability-2026) came from the Foundation, and the council [posted it to its channel](https://t.me/RadixAccountabilityCouncil/1037) on 17 September. **CaviarNine’s two validators are sold, unregistered or have a fee change filed: hit**, a week early, on the 25% requests above.

Two claims recorded: all four fee rises in the 23 September transaction take effect as queued, by 11 October; and GP-PRE-1 closes with its quorum and 66% approval met, by 4 October. The checks and the full record are on [the series index](/blog/week-in-review).

## What to watch

- **Radix Charts V2 at epoch 345,107, around 29 September.** A queued rise from 2.5% to 15% on 23.6M XRD, already on this series’ ledger. Settled by the validator’s effective fee.
- **GP-PRE-1 at 15:18 UTC on 2 October.** It needs 1,351M XRD of turnout and 66% in favour. Settled on the [ballot page](https://vote.radixdao.org/proposal/0).
- **Epoch 347,421, around 7 October.** The four fee rises land together. Settled by the effective fee on each validator.

## Corrections

Nothing this week.

## Everything else this week

Everything else this week, in one place.

### Protocol and tooling

- [Snapshots taken after Eagle Ray will not load on a 1.3.5 node](https://t.me/RadixDevelopers/66565)
- [Stokenet was reset; testnet state from before it is gone](https://t.me/RadixDevelopers/66594)
- [Fix for wallet requests not arriving: re-link the Connector](https://t.me/RadixDevelopers/66571)
- [Why the hUSDC transfer stuck: the collateral was split across four chains](https://t.me/hyperscale_rs/12915)

### Ecosystem and dApps

- [CaviarNine front end closed; its pools still swap through aggregators](https://t.me/radix_dlt/1005106)
- [GenkiPool adds multi-account voting to its governance site](https://t.me/radix_dlt/1005185)
- [GenkiPool compares one ballot under different voting methods](https://radix-community.genkipool.com/en/governance/radix-dao/temperature-check/0?tab=compare)
- [Radix Arena, parimutuel horse-race betting, running on Stokenet](https://t.me/RadixDevelopers/66518)

### Governance

- [RAC: ratification discussion closed, temperature check opened (20 September)](https://t.me/RadixAccountabilityCouncil/1047)
- [Why the Foundation's assets cannot be distributed to members](https://t.me/radix_dlt/1005186)
- [Gate still takes no XRD deposits](https://api.gateio.ws/api/v4/spot/currencies/XRD)

Next week the ratification vote closes, and the first of the week’s fee rises lands.

### Sources

1. Radix Gateway, transaction txid_rdx1ksxuuge5…t92u, 23 September 2026 — https://dashboard.radixdlt.com/transaction/txid_rdx1ksxuuge5ca3qc7ghuermxzrey07yz2tjhyffwx4yzfge3ulpg74sm2t92u
2. Radix Gateway, transaction txid_rdx1drj805dy…c920, 26 September 2026 — https://dashboard.radixdlt.com/transaction/txid_rdx1drj805dypsq9jsdyyxhfdsl526pmran653eul4msw7cf3fsxlw6qqfc920
3. Radix Accountability Council, ratification vote opens, 25 September 2026 — https://t.me/RadixAccountabilityCouncil/1084
4. Radix Accountability Council, MIDAO submission, 21 September 2026 — https://t.me/RadixAccountabilityCouncil/1056
5. Radix Accountability Council, post mortem and ratification, 17 September 2026 — https://t.me/RadixAccountabilityCouncil/1037
6. Radix DAO, GP-PRE-1 ballot — https://vote.radixdao.org/proposal/0
7. Radix Telegram, ratification turnout, 27 September 2026 — https://t.me/radix_dlt/1005197
8. Radix Telegram, vote headers on radixdlt.com and radixdao.org, 26 September 2026 — https://t.me/radix_dlt/1005171
9. Radix Foundation, consultation on recoverable hUSDC, 22 September 2026 — https://t.me/RadixAnnouncements/2781
10. Radix Consultation, temperature check #7 — https://consultation.mountain-top.live/tc/7
11. Radix Foundation, Public Incident Report, 17 September 2026 — https://www.radixdlt.com/blog/public-incident-report-vault-authorisation-vulnerability-2026
12. flightofthefox, migration at genesis, 24 September 2026 — https://t.me/hyperscale_rs/12978
13. flightofthefox, contracts rebuilt after genesis, 24 September 2026 — https://t.me/hyperscale_rs/13028
14. flightofthefox, building on Babylon, 24 September 2026 — https://t.me/hyperscale_rs/12990
15. hyperscalers/hyperscale-vm on GitHub — https://github.com/hyperscalers/hyperscale-vm
16. Radix Telegram, the case for returning hUSDC to holders, 24 September 2026 — https://t.me/radix_dlt/1004953
17. Radix Dashboard, Daffy (Supreme) validator — https://dashboard.radixdlt.com/validator/validator_rdx1svug50cdlalm6plazajrmntf209j5azf57xeukuhx2hw7e7ut5mmz8

---

**Radix Week in Review series, Issue #14:** [← Previous: Issue #13, Sep 14–20, 2026](/blog/week-in-review-2026-09-20) · [All recaps](/blog/week-in-review) · [Subscribe](/week-in-review.xml)

_Previously:_ The Radix Foundation published its report on the 31 August defect, KuCoin reopened XRD trading, and the engine source shows where the check was missing.