Radix Week in Review: The hUSDC Refund Is Paid

Week in brief

• The Radix Foundation paid 360,851 hUSDC to the 79 accounts on its refund list on 4 November, one transfer per account.
• A further 76,317 hUSDC went to a single account on 5 November, one less than the share the list holds back for XHSWAP.
• The Transition RAC says the handover of tokens, code repositories and social accounts waits on a custody proposal from PrimeVault.
• Community developers measured what a Babylon node stores, and flightofthefox published a node change that prunes old transaction history.
• Daffy is rebuilding the Gateway as a lean indexer with a separate History Service.
• flightofthefox named three workstreams on hyperscale-rs: a Lean 4 specification, a redesigned consensus and a desktop validator client.
• Nine candidates have replied in the Permanent RAC topic, with candidacy closing on 13 November.

The hUSDC caught in a bridge transfer during the August drain is back with its holders. The Radix Foundation paid it on Wednesday 4 November, the day it had named, to the accounts on the list it published on 9 October.

The rest of the week was spent on what the community will run once the Foundation hands it over: the code, the build pipelines, the nodes and the Gateway, and what each of them costs to keep.

The hUSDC refund is paid

hUSDC is USDC bridged onto Radix by Hyperlane. The account holding the recovered hUSDC made its first payment at 10:31 UTC on 4 November and its last at 15:26 UTC: 79 transactions, one per account, smallest holdings first, the largest 47,125. Together they paid 360,851 hUSDC, the sum and the account count on the refund list, which pays each account for what it held in its own wallet and its share of what it had in pools, liquidity positions, orders and loans.

On 5 November the account received 24,766 more hUSDC through Hyperlane, then sent 76,317 to one account in six transfers, the last of 18,317. The list holds back 76,318 for XHSWAP, a dApp that swaps Radix-native assets into Hyperlane ones; the receiving account carries no name on the ledger. 7,297 hUSDC remain, against 4,798 the list assigns to the reserve of Flux and 1,017 from Weft that could not be traced to an account. For anyone moving hUSDC off Radix, Timan advised bridging to Ethereum only for now, because Ethereum holds all the collateral and a transfer to Base or Solana may wait until it is rebalanced.

What the community will run

The handover

The Transition RAC, the interim council of the Radix Accountability Council, posted an update on 7 November listing three things it is working with the Foundation to transfer to the DAO: the tokens, $XRD and stablecoins; the code repositories the Foundation owns, with the pipelines that build and deploy the software; and the Discord, X, Telegram and YouTube accounts. The tokens wait on a proposal from PrimeVault, the custody firm the council met on 6 November. The asset-transfer card tracks each part.

In the developer channel, Daffy wrote on 2 November that the deployment pipelines will need updating once they arrive, and suggested a working group to look after them.

Making a node smaller

The same day Daffy posted what a Babylon node, the software every Radix validator runs, keeps on disk, and how much each part costs. flightofthefox, who writes hyperscale-rs, put a lower bound on it:

On 5 November flightofthefox committed a change to a personal fork of babylon-node that deletes transaction history older than a retention the operator sets, 813 added lines across the node's storage and its Core API. On 8 November flightofthefox offered it for anyone to try, and advised against running it on a validator that votes. Validators in the channel weighed disk against memory: rented servers with modest disks are cheap, and a smaller node lets an operator move to one. A port of the node's Java half to Rust was discussed and not taken up; the case made for one was a near line-for-line port that changes nothing in the protocol, tested against the existing node output for output.

A Gateway that keeps a day

The Gateway is the service wallets and dApps read the ledger through. Daffy described on 3 November a project that began as a Gateway rebuild four weeks ago and has become a History Service: the Gateway becomes a lean indexer that serves recent state, as little as one day of it, and older history is served separately. The smallest Gateway would need 100 to 150 GB of disk, 2 CPUs and 4 to 6 GB of memory, beside a full node with indexes of about 550 to 600 GB.

GENKIPOOL, a validator operator, published a decentralization roadmap the same day, drafted with AI and open to pull requests. Daffy replied with measurements of the node: the node uses 493 GB and grows about 65 GB a year, and receipts alone take 217 GB, so pruning them would remove what an indexer needs to sync from genesis.

Hyperscale: three workstreams

On 8 November flightofthefox wrote that the milestone plan for hyperscale-rs is out of date, and named the three things now in progress, none of them public yet: a formal specification of the whole system, verified in Lean 4, a language for writing machine-checked proofs; a consensus redesign that replaces separate shard consensus (HotStuff-2) and beacon consensus with one model, prefix consensus running on a DAG; and the first version of a desktop validator client, ahead of the first testnets. Earlier in the week flightofthefox said the redesign will let the beacon order every shard's headers against every other's, which gives a Gateway a consistent view across shards.

hyperscale-vm, the execution engine that would replace the Radix Engine's virtual machine, took 16 commits on 4, 6 and 7 November, on how the engine hands out random seeds and the clock, and on reads within a batch of transactions. hyperscale-rs itself took none.

The week on the ledger

Read live from the Radix Gateway at epoch 356,608, state version 568,174,035, on 2026-11-08.

The ledger

• Hit: the recovered hUSDC is refunded by 15 November. The holding account paid 360,851 hUSDC to the 79 accounts on the refund list on 4 November, read on the Gateway at epoch 356,609 and confirmed through radixscan.
• Still open: six or fewer validators hold a third of active stake by 22 November. This week’s reading is 7.
• Still open: twelve or more candidates when Permanent RAC candidacy closes on 13 November. Nine have replied in the topic.

Every claim and its evidence: the Week in Review index.

This week on the wiki

The Hyperlane Asset Drain page now follows the refund to the transaction: who was paid on 4 November, what moved on 5 November, and which shares are still held. Anyone on the refund list can check their own payment against it.

Pages edited in the seven days to 2026-11-08:

Concentration watch

7 validators hold a third of the active set’s stake, the same as last week, against the one-third line a group would need to stall the network. Stake rose 2.3% and the largest ten still hold 43.8%. The full table is on the network page.

What to watch

• 13 November: Permanent RAC candidacy closes. The count in the RadixTalk topic against the twelve the council wants.
• The 7,297 hUSDC still in the refund account: the Flux and Weft shares. The account’s hUSDC balance on the Gateway settles it.
• PrimeVault’s custody proposal, which the token handover waits on. The council says it will report it.

Corrections

Nothing this week.

Next week candidacy for the Permanent RAC closes, and the council expects PrimeVault’s proposal.

Radix Week in Review series, Issue #20: ← Previous: Issue #19, Oct 26 – Nov 1, 2026 · All recaps · Subscribe

Previously: Radix DAO LLC was incorporated, the Foundation listed what it will hand over, an Ociswap pool lost 1.14m $XRD, and hyperscale-rs moved to iroh.