• Big Q4 2025 milestone: DevvE Network successfully launched and testnet is live for builders. Developers can now build applications, assets, and on-chain financial logic.
• Developer focus: New OpenAPI docs, a Developer Portal, and a live Developer Forum to lower friction and grow the ecosystem.
• Surprise partnership: Strategic alliance with Covey to support ecosystem growth, liquidity, infrastructure partners, and institutional adoption.
• Core progress: Major behind-the-scenes work on infrastructure, security, lending/borrowing, risk tools, and token systems — foundational for real-world and institutional use.
• Brand & transparency: New websites, DevvDigital whitepaper, and monthly technical updates launched.
• Challenges acknowledged: Market downturn, slower institutional timelines, and delayed funding from DevvStream affected pacing, but overall development stayed largely on schedule.

Lending & Borrowing:

• Internal demo: Dec 16, 2025
• Public demo: Jan, 2026

Regulation & institutions: CASP/VASP licensing in progress; major institutional exchange and custody partnerships expected after approvals (early 2026).

Platform V1: Not launching until 2026, but P2P transactions and core systems are nearing readiness;

Looking ahead: 2026 looks to shift from foundation-building to visible product launches, deeper integrations, and an updated roadmap as regulatory and market conditions stabilize.

Yearly Update

It’s almost the end of 2025. A year that, for DevvE, has represented one of the most significant steps forward for our technical and product development goals; despite a challenging backdrop for the Web3 industry across the board.

Challenges bring with them opportunities. A chance to double down on key areas of progress, a chance to forge new partnerships outside of our original roadmap, a chance to seize on opportunities to strengthen the DevvE network.

In this recap article, we take a transparent look at what we have achieved through 2025, with a focus on Q4, paths we’ve taken to deliver success for DevvE outside of our roadmap goals, and where our deliverables will evolve or roll-over into the New Year.

Let’s start by reviewing the many highlights from Q4 2025, our busiest quarter to date.

1. Q4 2025 Progress Highlights

Q4 saw a plethora of announcements, from major branding and website overhauls, to documentation and developer resources, surprise partnerships, and of course, the launch of the DevvE testnet.

1.1. DevvE Network Launch and Testnet Availability

Q4 marked the successful launch of the DevvE Network and the opening of the testnet to builders. The network is now actively validating blocks and supporting live developer experimentation, a huge first step toward full mainnet launch. We’ve already seen a good deal of exciting applications being developed, and we’re working on a portal to showcase these, which will come soon.

Projects and developers can now build applications, tokenized assets, and onchain financial logic directly on the DevvE testnet, establishing the foundation for real-world usage.

This milestone represents the transition from architecture to an operational network and sets the stage for ecosystem growth heading into 2026.

1.2. Developer Enablement and Documentation

Significant effort this quarter was dedicated to improving developer accessibility. Comprehensive OpenAPI documentation was published, alongside continued work on the DevvE Developer Portal.

A dedicated Developer Forum is now live, providing a space for feature requests, research discussions, tutorials, and direct engagement with the engineering team.

These initiatives are designed to reduce friction for new builders and support sustained developer participation.

1.3. Strategic Partnership with Covey

In one of the major out of roadmap surprises this quarter, DevvE entered a strategic partnership with Covey, a Web3 advisory and growth accelerator with deep experience in ecosystem development, liquidity strategy, and institutional collaboration.

Covey is working alongside the DevvE team to help identify infrastructure partners, support payment and liquidity rails, and strengthen cross-sector integrations.

This partnership reflects a deliberate focus on ecosystem quality and long-term adoption.

1.4. Core Platform, Lending, and Security Progress

During Q4, we made meaningful progress across core infrastructure, lending functionality, security, and asset systems.

This included strengthening infrastructure stability and observability, advancing the lending and borrowing protocol toward live demonstrations, expanding risk and conditional transaction tooling, and continuing work on security, performance, and token infrastructure.

While much of this work sits behind the scenes, it is foundational to platform reliability, compliance, and real-world usability. We’ll explore each of these areas in more detail later in this update.

1.5. Ecosystem Growth and Business Development

Q4 included a strong pipeline of ecosystem and business development activity. The team engaged with infrastructure protocols, wallets, fiat on-ramps, market makers, and institutional platforms, alongside discussions with scaling foundations and enterprise-grade networks.

These conversations are shaping future integrations and informing roadmap sequencing.

1.6. Communication, Transparency, and Platform Presence

New DevvE websites for both our core brand and the DevvExchange went live this quarter, providing a clearer entry point into the ecosystem and serving as an onboarding funnel for both developers and future exchange users.

Simultaneously, the DevvDigital whitepaper was released to outline the institutional and regulatory architecture behind the platform.

Monthly technical updates are now established as a recurring communication channel, reinforcing transparency as the ecosystem evolves.

2. Progress Recap from Tom Anderson, Founder at DevvE

As you can see, Q4 2025 was one of the most significant quarters in DevvE’s history, with releases and updates not just to our technical, documentation, and product offerings, but to the very heart of our community and brand.

Commenting on the importance and impact of this quarter, some of the current challenges we’re facing and how we’re overcoming them, and of course the road ahead for 2026, Tom Anderson, Founder at DevvE, has this to share:

“Since publishing our original roadmap, development across the Devv Ecosystem platform has largely stayed on schedule. For a technically complex system, a six-month window represents meaningful progress, and in broad terms our development estimates and delivery targets have remained sound. Core platform work has continued to advance steadily during this period.

As the platform has matured, several strategic opportunities have emerged that required careful consideration and adjustment. In particular, ongoing discussions with multiple investment banking and institutional groups, which could present significant long-term upside for DevvE, require thoughtful sequencing of milestones. Aligning major releases with these opportunities allows us to maximize impact rather than rushing functionality to market prematurely.

Broader market conditions have also influenced timelines. The recent downturn in crypto markets has slowed decision-making across the industry, particularly among TradFi institutions exploring DeFi integrations. This has extended some partnership and rollout timelines, but we continue to see strong long-term interest in DevvE’s infrastructure. Market conditions also inform launch strategy, as we balance near-term delivery with sentiment and adoption readiness.

In parallel, we have navigated a small number of business-level challenges, including changes to expected funding timelines. DevvStream was unable to meet its contractual obligations relating to the purchase of DevvE tokens, and the absence of those funds impacted the pace at which certain initiatives could be accelerated.

We are actively working with them to evaluate a constructive path forward, while continuing to progress development and explore new strategic opportunities such as the Fias AI platform and other partnerships. Overall momentum remains strong, and we plan to publish an updated roadmap as external conditions stabilize, alongside upcoming demonstrations that highlight recent technical progress.”

3. Specific Roadmap Items and Goals

Of course, with so much having been delivered through Q4, it’s easy to forget we also have our specific roadmap goals and items that have formed the foundation of our focus this quarter, and indeed for much of 2025.

Let’s examine each workstream and their progress below.

3.1. CASP and VASP Licensing

Work toward CASP and VASP licensing continues and remains a key focus area. Licensing is foundational for regulated operations, institutional engagement, and broader exchange functionality.

While progress is being made, regulatory processes naturally involve external timelines. Once approvals are in place, there may also be a short delay before public announcements can be made. We will provide a clearer update on licensing status as part of the early 2026 roadmap.

3.2. Institutional Exchange Partner Announcement

Institutional partnerships remain closely tied to licensing and regulatory readiness. We continue to work toward announcing a major institutional exchange partner once the appropriate approvals and structures are in place, contingent on licensing.

Aligning this announcement with the right regulatory and market context, as well as alignment with other strategic relationships such as the work we are exploring with investment bankers, is important to ensure it delivers long-term value rather than short-term visibility. We expect that following licensing approval (30–90 days) as outlined above, we can announce our partner.

3.3. Bailment and Custody Partnerships

A bailment partner is a regulated third party that holds or safeguards assets on behalf of users or institutions under defined legal and operational terms. Discussions around regulated bailment and custody partners are progressing, with several strong contenders having submitted proposals. These partnerships are essential for institutional-grade asset protection, compliance, and operational trust.

We are currently refining commercial and operational frameworks before finalising partner selections, a process which has also been enhanced by introductions made through our working partnership with Covey. Updates on custody partnerships will be included in the next roadmap phase.

3.4. Wallets, Identity, and User Onboarding

The first wallet capabilities have been rolled out, and improvement and development across wallets, identity systems, and compliant onboarding continues. These systems are critical for enabling scaling of our chain and applications, while maintaining flexibility for different ecosystem participants.

3.5. Reward Multipliers, Token Drops, and Liquidity Caches

Incentive mechanisms such as reward multipliers, token distribution systems, and liquidity programs remain part of the broader ecosystem plan.

These features are closely tied to the marketing platform, lending functionality, and institutional participation. Rather than releasing them in isolation, they are being aligned with the next phase of platform activation and will be detailed further in the 2026 roadmap.

3.6. Marketing Platform

The first phase of the community rewards and engagement platform has been delivered through LitCraft. This establishes the foundation for structured community participation and incentives.

In Phase 2 a more focused platform relating to DevvDigital and expanded reward mechanics are in development and will continue rolling out into early 2026.

3.7. Lending and Borrowing on DevvX

Lending and Borrowing is one of the most anticipated components of the Devv ecosystem and represents the first major live use of DevvE within credit markets.

We are pleased to share that an internal demonstration, with selected institutional and ecosystem development partners, is scheduled for December 19th 2025, showcasing end-to-end functionality. We expect some data and video overviews of the platform will be available to share with the community during this time, as we complete testing.

Following this, a broader public demo is planned for January 2026, subject to final testing. While full production activation will follow later, these demos will provide a clear view into how the system works in practice.

3.8. DeFi Platform V1

Platform V1 covers digital asset management, transfers, lending, borrowing, and exchange capabilities. While individual subsystems are approaching readiness, the complete V1 platform will not be launched before 2026.

However, P2P Transactions utilising contingent transaction sets (CTS) are expected to be completed by mid Q1 2026.

3.9. INN Service Enhancements

Significant improvements have been made to the INN middleware layer, improving performance, reliability, and shard-to-API communication.

These upgrades strengthen the system under real-world production conditions and support future scaling.

3.10. DevvE Integration with DevvX S2

Integration work enabling DevvE to function across DevvX S2 is underway.

Completion depends on bridge functionality, which will unlock broader transaction flows and increased DevvE utility across the ecosystem.

3.11. Support Systems and Documentation

Comprehensive documentation and support systems are now in place, including onboarding guides, integration references, troubleshooting resources, and live support processes.

These tools support both ecosystem partners and community users as new functionality comes online.

3.12. Asset Management and Token Infrastructure

Token and asset infrastructure is largely complete, including support for wrapped assets and stablecoins.

Additional functionality will activate as bridge components are finalised. We are also exploring direct exchange pathways for DevvE to improve accessibility and usability within the ecosystem.

3.13. Infrastructure, Scaling, and Security

Production infrastructure has been strengthened across monitoring, redundancy, throughput, and reliability to support global usage and institutional standards.

A comprehensive security framework is in place, with internal and external audits ongoing to support compliance, resilience, and long-term trust.

4. Looking Ahead to 2026

As we move into the New Year, the focus shifts from foundation-building to bringing more of the DevvE platform into view.

Over the past quarter, and throughout 2025, the team has delivered substantial progress across network infrastructure, developer tooling, security, lending mechanics, and ecosystem readiness. The DevvE Network is live, builders are active on testnet, core financial primitives are taking shape, and the systems required to support real-world deployment are coming together.

The next phase is about turning this technical depth into tangible product experiences. This includes upcoming demonstrations, expanded testing environments, and deeper integration with ecosystem and institutional partners, all aligned with regulatory progress and long-term strategy. As we move into the New Year, we will share an updated roadmap that reflects both the progress made to date and the opportunities ahead.

We’ll continue to provide regular updates and previews as new capabilities come online. Thank you for being part of the DevvE journey. The work happening now is setting the stage for what comes next, and we’re excited to build it together.

Following the successful launch of the DevvE Network, DevvE is entering its next phase of growth, one centered on real-world deployment, ecosystem expansion, and developer participation.

To drive this mission forward, DevvE has formed a strategic partnership with Covey, a Web3 advisory and growth accelerator recognized for its role in helping blockchain ecosystems scale through strategic partnerships, infrastructure development, and institutional collaboration.

DevvE Network is Open for Builders

The launch of the DevvE Network marked a significant milestone in the project’s evolution. Built for scalability, transparency, and sustainability, the network is designed to provide a seamless foundation for developers and enterprises to build decentralized applications that can operate efficiently at scale.

With the testnet now live, DevvE enables projects to deploy decentralized applications, tokenized assets, and onchain financial solutions directly on its network. This infrastructure lays the groundwork for a growing ecosystem of partners, developers, and users building toward sustainable real-world adoption. The focus of this next stage is to strengthen the network’s foundation through key integrations and collaborative initiatives — and this is where Covey’s expertise becomes instrumental.

Covey brings over a decade of experience in strategic advisory, token economics, liquidity management, and partnership execution. The firm is known for embedding itself deeply within partner ecosystems, operating as an extension of internal teams to deliver measurable growth outcomes. Covey’s network of industry relationships spans leading infrastructure providers, exchanges, and payment systems, creating a powerful bridge between innovative projects and the broader Web3 landscape.

How will Covey work with DevvE?

Through this collaboration, Covey will take an active role in helping DevvE identify and onboard partners that can strengthen its infrastructure, build critical payment rails, and enhance cross-sector integrations. Covey’s network spans a broad range of leading organizations across the Web3 landscape, including blockchain networks such as Arbitrum and BNB Chain, major exchanges like OKX and Bybit, and trusted payment providers such as MoonPay. These relationships, along with its advisory and portfolio experience, position Covey as a proven ecosystem builder capable of connecting emerging projects with established players and technical infrastructure.

Through this strategic collaboration, Covey will work hand-in-hand with DevvE to accelerate ecosystem development, deepen institutional and community engagement, and build strategic pathways that amplify visibility and adoption. The partnership underscores a shared commitment to driving measurable growth and positioning DevvE as a leader at the intersection of Web3, sustainability, and real-world utility.

As DevvE moves from launch to large-scale deployment, the partnership with Covey signals a clear intention: to accelerate the integration of decentralized technologies into mainstream systems. This includes expanding the developer base, supporting enterprise and institutional participation, and growing the community around the $DEVVE token and its broader ecosystem.

The DevvE Network is live, and with Covey as a strategic partner, the pathway toward sustainable blockchain adoption is firmly underway.

✅ Testnet live: blocks validating, devs already building
✅ OpenAPI docs + DevvE Developer Portal in progress
✅ Interest accrual engine (Lending Platform) implemented
✅ New DevOps shards, upgrades to microservices + monitoring
✅ Security + performance hardening underway

Next up:
→ Multi-asset bridge into DevvE (TVL flow)
→ SDK + better developer tools
→ New Testnet Wallet (UX/UI upgrade)
→ Full network security audit

Full report: https://devve.discourse.group/t/september-october-2025-devve-technical-progress-update/25

Monthly updates from now on.

Feedback welcome in the forum or Discord!

— Devv Team

Here’s what we’ve accomplished this quarter.

✅ Ecosystem Project Foundation and Testing Infrastructure
The first iteration of our ecosystem-wide development standards and test framework is complete and already in use across core services. The high-level system architecture, including integration pathways with key partners, has also been defined. Both foundations are live and actively supporting development today.
As with any robust infrastructure, these will continue to evolve as we bring on additional partners and adapt to regulatory and compliance requirements. The critical groundwork is done, giving us a strong, reliable base to build from.

🌐 DevvE Network Testnet Launch
The DevvE Network testnet infrastructure, DevvX API, and developer environment are all live and ready. We’ve completed the groundwork to ensure a smooth experience and are preparing to open access.
The official launch comes with broad documentation and support channels.

These are:

DevvE Network Documentation: https://devvdigital.gitbook.io/devve-network/

DevvE Developers Forum: https://devve.discourse.group/

DevvE Developers Discord: https://discord.gg/WYUD7FbVxG

✅ DevvE Whitepaper Update
The updated DevvE Whitepaper is now live: https://bit.ly/devvdigital-whitepaper

This edition provides a holistic overview of the DevvE ecosystem, integrating our latest developments, technologies, and market positioning. It also clearly outlines the current and future utility model for $DEVVE holders showing how value flows through the ecosystem today and how it will expand over time. It’s the most complete picture yet of our mission, architecture, and path forward.

✅ DevvE and DevvExchange Updated Websites
The new DevvE.com (http://www.devve.com/) and Devv.Exchange (https://devv.exchange/) websites are live!

Both sites deliver a strong user experience and will be updated with clear guidance on how to earn, participate, and explore the ecosystem. These ongoing updates will make it easier than ever for users, developers, and partners to connect with what we’re building and get involved.

✅ Institutional Partner Integration Strategy and Architecture Design
The high-level system architecture for institutional integration is defined, and key partners have been identified. This framework is already in place and ready to support upcoming integrations.
As we bring additional partners on board and product requirements expand, the architecture will continue to evolve, ensuring we remain flexible while already having a solid foundation to build on.

With Q3 deliverables in place, the foundation of the Devv Ecosystem is stronger than ever. We’re entering the next phase with momentum, bringing more builders, partners, and users into the network.

— The Devv Ecosystem Team

This phase is where our ecosystem begins to support lending, payments, token movement, and developer access, building on the foundations of the Devv Ecosystem. When launched, DevvExchange will serve as a hub for ecosystem activity and drive value and utility within the network. Lending, liquidity provisioning, and token management are essential milestones toward this goal. These systems create movement, incentives, and participation across the ecosystem. Launching these critical systems is a key focus of this phase.

We will be opening the ecosystem to developers through a public shard, launching core DeFi capabilities, and preparing the institutional and compliance layers that will support scaled access. Each of these steps unlocks the next, building toward a fully operational exchange
where DevvE sits at the center of transactional activity.

Q3 2025

Ecosystem Project Foundation and Testing Infrastructure
Core development standards and test frameworks established for ecosystem reliability.

Public Shard Launch
Developers gain access to DevvX API and testnet to start building on-chain. We will provide business development resources for users that want to take their projects to production on the DevvX S2 platform.

DevvE Whitepaper Update
Updated utility model outlines current and future value for DevvE holders.

DevvE and DevvExchange Updated Websites
New sites improve UX and guide users on how to earn and participate.

Institutional Partner Integration Strategy and Architecture Design
System architecture finalized with key institutional partners.

Q4 2025

CASP/VASP Licensing
Regulatory approvals secured to enable compliant growth and institutional access. These licenses are required to operate compliant digital-asset venues, and securing these licenses signals to users and regulators that our technology meets the same legal bar as traditional exchanges.

Announce Institutional Exchange Partner
Major partner revealed with joint campaign to validate platform credibility.

Onboard Bailment Partners
Onboard trusted bailment partners to strengthen asset custody solutions, enhance operational security, and support institutional-grade trust and compliance on the exchange.

INN Service Enhancements
Enhance INN services for production performance and integration. The INN is the middleware layer that routes data between DevvX shards and the application programming interface.

DevvE Integration with DevvX S2
DevvX S2 transactions utilize DevvE, further driving usage and volume.

Wallets, Identity, and User Onboarding Systems
Identity, self-custody wallets, and user access systems launched to support secure onboarding. KYC/AML-compliant account management will be baked into the process, letting us offer self custody trading while still satisfying global anti-fraud regulations.

Support Systems and User Documentation
Comprehensive user guides and live support launched to assist onboarding and adoption.

Asset Management and Token Infrastructure
Implement comprehensive asset management including wrapped tokens and stablecoins.

Production Infrastructure and Scaling
Core systems hardened, audited, and scaled to ensure security, uptime, and global readiness.

Security Framework and Auditing
Implement comprehensive security framework and conduct thorough security audits.

Reward Multipliers, Token Drops, and Liquidity Caches
DeFi infrastructure goes live with yield opportunities, airdrops, and reward multipliers for DevvE holders.

Marketing Platform Launch
Community rewards platform launches through LitCraft, driving social engagement and token distribution.

Lending and Borrowing Live on DevvX
First live use of DevvE across lending and liquidity provisioning.

Platform V1 Launch
Production release of V1 DeFi platform for maintaining and transferring digital assets, lending functionality, and exchange functionality.

Disclaimer
Note that this roadmap contains forward-looking statements based on current expectations, including projected timelines and planned features. Actual results and launch dates may differ due to technical, regulatory, business, or market factors. All information represents estimates provided in good faith and is subject to change.

Website Links

DevvE Website

DevvExchange Website

📺 DevvE Roundup with Founder Tom Anderson

In this latest Roundup, Austin sits down with our Founder, Tom Anderson, to unpack the latest updates on DevvExchange and how some of our most innovative features are set to redefine what a next-generation Digital Asset Exchange can do.

Watch the Roundup here: https://www.youtube.com/live/hLDcUlB0DP0

📺 Senior Leadership Roundtable: The Big Picture & Strategy

For the big picture on what’s ahead for the Devv Ecosystem, tune into this special Leadership Roundtable.

In this conversation, Austin speaks with:
• Will Stewart (Chairman of the Board)
• Ray Quintana (CEO)
• Tom Anderson (Founder)

In a highly insightful session, they explore the vision for the full Ecosystem, what sets us apart, and the key priorities shaping the road ahead.

Watch the Leadership Roundtable here:

We hope you enjoy the sessions,

Sincerely,

The Devv Ecosystem Team

DevvISE is the patented liquidity provisioning system that will be deployed for DevvExchange, the next generation of digital asset exchanges. Users can contribute their assets into a DevvISE “Liquidity Cache” to earn a share of rewards created by the protocol’s revenue streams, while maintaining complete self-custody, privacy, theft and loss protections; and most significantly uncompromised compliance for institutional clients.

DevvExchange is the first digital asset exchange that completely removes Counterparty Risk in asset exchanges thanks to the innovations inherent in Contingent Transaction Sets (CTS) and Mathematically Instant Settlement (MIS), powered by the scalable DevvX Blockchain. By removing the need for any 3rd party involvement in the settlement process, the risk is likewise mitigated. DevvExchange is the only feature-ready option for global adoption across TradFi and DeFi that takes full advantage of the benefits of tokenization.

There is no better place to earn passive yield from your assets than with a DevvExchange wallet and DevvISE. Additionally, DevvExchange has a strong referral program, where referrers can share in revenue from all referrals.

To benefit from this truly unique affiliate rewards opportunity, Sign Up Now: www.devvexchange.com

How does DevvISE work?

DevvISE defines an asset as either a PDA (primary digital asset) or an SDA (secondary digital asset). Unlike fractured liquidity pools in DeFi where a new pool is created for each trading pair, a PDA is always paired against an SDA within a Liquidity Cache to unify all volume though just two SDAs — DevvE and Fias. DevvISE assets can be used for a number of purposes such as market making, immediate conversions between assets, and lending.

Note: There is only one type of SDA/SDA liquidity cache. This enables complete liquid value transfers between metaverse and social assets and real world assets. There are no other SDAs outside of DevvE and Fias in the DevvISE system.

Immediate Conversion Example: BTC/DevvE, the first asset (BTC) is considered a PDA and the second asset (DevvE) is the SDA. A typical trading pair such as BTC/USD would be routed as:

BTC converted to DevvE using BTC/DevvE & DevvE then converted to USD using DevvE/USD

This trade or payment is completed within a single Contingent Transaction Set, such that there is no risk that the entire conversion will not go through at once, and a conversion from BTC to USD, or any other asset, occurs with Mathematically Instant Settlement. Assets remain entirely within the user’s own self-custodied wallet, at all times before, during, and after a conversion. For the first time, this removes all counterparty risks including custody and exchange risks that are present across all other forms of both traditional finance and decentralized finance.

Rebalancing of Liquidity Caches is handled automatically by the DevvISE protocol, which is used towards preventing impermanent loss. Similarly, Liquidity Caches can be utilized for market making activities and within the DevvISE lending protocol. All three uses are further described below.

How can I earn from DevvISE?

In the tokenization age, participants not only maintain value in the assets themselves, but they also can earn based on the use of those assets. When users contribute to Liquidity Caches, they share in upside from the entire system across various revenue streams.

Users who contribute both PDAs & SDAs into a DevvISE Liquidity Cache earn rewards based on the use of those assets.

Asset contributors can take advantage of well-established business models across multiple sectors to earn from the use of their assets. The initial revenue streams DevvISE will create includes:

• Exchange Operations and Trading Fees
• Instant Conversions and Payments
• Market Making
• Lending

DevvExchange has introduced a referral program where up to 60% of trading fees generated by referrals will be given to those making referrals. Furthermore, referrals to users who provide liquidity will also earn additional rewards in the referral program.

This is an extremely powerful concept with upside for anyone leveraging their network, from KOLs, marketing managers, crypto communities, or any organization with large customer bases.

Immediate Conversions (Payments)

Instant conversion, such as by payment solutions, are also powered by Liquidity Caches — enabling immediate, trustless conversion between assets without relying on external buyers or sellers. With DevvISE, payments can be sent and received in any form as determined by the sender and receiver.

How It Works

Users that contribute PDAs & SDAs share in the revenue by the fees that DevvISE creates from payments.

Payment Example:

Let’s say a user wants to buy a cup of coffee with their Bitcoin but the merchant wants to receive USD.

1. The user initiates the payment from their BTC wallet.
2. Within a single Contingent Transaction Set, comprised of 3 transactions, Bitcoin is sent to the BTC/DevvE Liquidity Cache and is converted to DevvE, that DevvE is sent to the USD/DevvE Liquidity Cache converting it to $USD, and the $USD is then sent to the merchant.
3. The recipient gets their funds in the preferred asset — instantly and without price slippage or counterparty risk thanks to CTS & MIS.

Payments can be initiated though existing mechanisms such as credit cards or payments through a QR code.

How Users Share in the Revenue

Anyone who contributes assets to a Liquidity Cache is helping make these instant conversions possible. In return, they earn a share of the payment fees.

Why It Matters: Payments is a big business

Payments Network fees have varying levels depending on the type and complexity of transaction that DevvExchange can dramatically simplify. Applications like WeChat Pay charge about 0.1%, while retail card payments in the US can exceed 3%. Cross-Border transactions often net additional fees putting them at a global average of around 6.5% per transaction. It’s a big business and DevvExchange simply does it better, allowing users to pay instantly with crypto.

Visa $32.6 billion

Mastercard $25.1 billion

PayPal $29.8 billion

Stripe $4–5 billion

Square $22.7 billion

The total transaction value with digital payments is projected to reach US$20.37 Trillion in 2025 (according to Statista) with an expected CAGR of 15.90%. The future of payments is on blockchain, and DevvISE has capabilities for payments that no other blockchain has.

Market Making

PDAs and SDAs that are contributed to a Liquidity Cache can be used by the DevvISE protocol for market making activities on DevvExchange.

How It Works

Users that contribute PDAs & SDAs share in the revenue created by DevvISE through market making activities. Market making is a proven and highly lucrative business.

Spread Example:

DevvISE is market making BTC/Euro trades

It places two orders:

• Buy BTC (bid) at €49,950
• Sell BTC (ask) at €50,050

That’s a €100 spread. Market makers buy at the lower price and sell at the higher price, in which they profit from the spread. Users who contribute assets into BTC and Euro Liquidity Caches share in the value captured by the spread in trades across those assets.

Market making is a proven business. In 2024, two of the largest market makers in the US, Citadel Securities and Jane Street, generated significant revenue. Citadel Securities reported a record $9.7 billion in full-year trading revenue, while Jane Street posted $14.2 billion in net trading revenue for the first three quarters of the year, already surpassing its previous record. Integrating access to the order flow for DevvExchange with the Liquidity Caches in DevvISE is a valuable concept and creates strong utility for the assets held in Liquidity Caches. Below is an example of the order of magnitude of fees that can be generated by DevvISE Liquidity Caches used in market making as the exchange grows1. These fees are shared in the referral program.

Lending

DevvISE introduces a breakthrough lending system where users can earn yield on digital assets like BTC, ETH, stablecoins, or DevvE and Fias — without giving up self-custody or exposing their funds to vulnerable smart contracts. The lending protocol built into the DevvX architecture allows for loans that have no risk on the collateral to lenders. DevvExchange’s approach further gives theft protections, private key loss protections, and regulatory compliant privacy.

How It Works

• Users contribute assets (PDAs or SDAs) into a Liquidity Cache.
• Borrowers take loans and pay interest through a contract defined on-chain.
• If a loan goes into default, the system can send the collateral directly to the lender, thereby removing risk around lending.
• Collateral remains in the borrower’s wallet if there is no default, which provides for additional security and tax advantages in certain jurisdictions.

This allows digital assets to be lent out without the need for inefficient overcollateralization, unlocking better rates for borrowers and safe returns for lenders.

Revenue Model
Lending participants earn revenue through:

• Interest Payments: Typically ranging from 4% to 15% APY, depending on asset type and borrower profile
• Origination Fees: Optional flat protocol fees on loan creation

Revenue is distributed proportionally to all lenders based on their contribution and the demand for the assets they’re lending.

Market Opportunity

The global lending market is massive — valued at $12.17 trillion in 2025, with projections hitting $15.99 trillion by 2029, growing at a 7.1% CAGR.

DevvExchange and DevvISE gives users a way to earn institutional-grade yield with full control, transparency, and zero risk on loan collateral — helping fund ecosystem growth, liquidity, payments, and innovation. Due to the risk profile of our loans, access to these type of revenue streams are significant for asset managers with dormant capital. Lending that is implemented with DeFi principles, but where it is usable by traditional finance entities, is one of the largest upcoming growth categories in the blockchain space.

Compounding lending with market making, exchange fees & payments, creates the perfect environment to build the deepest liquidity as there is nowhere better to utilize your assets.

You can now sign up for early rewards on our onboarding platform: www.devvexchange.com

The information presented herein, and any other materials provided by Devvio Inc, DevvDigital Inc or DevvISE are intended only for discussion purposes and are not intended as, and do not constitute, an offer to sell or a solicitation of an offer to buy any security, and should not be relied upon by you in evaluating the merits of investing in any securities. These materials are not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to local law or regulation. The information set forth herein does not purport to be complete and we assume no obligation to update or otherwise revise such information. The information contained herein does not purport to contain all the information that may be required to evaluate participation in our programs. Any offering related to our programs are made only pursuant to separate defining legal agreements. These agreements should be read in their entirety and constitute the only basis in which participation will be defined. DevvExchange and DevvISE are speculative and involve a high degree of risk. There can be no guarantee that DevvExchange’s or DevvISE’s objectives will be achieved. The referrals programs are subject to change at any time. DevvDigital and DevvISE reserve the right to alter the program in any way in their sole discretion, or even discontinue the programs in their entirety. *1 — market making revenues and daily trading volume are difficult to find exact values, particularly in the crypto space. The description in the table does not represent projections, nor is it even a model. It is only a simple calculation based on assumptions that could vary widely from actual results. Using the Flowdesk 2024 annual report as an example, Flowdesk, a market maker, had revenues of €479m on €6.2 trillion of trading volume. Therefore, for every €1 of revenue, on the order of €13,000 of trading volume occurred. A similar analysis from Citadel’s public filings, for example, produces a similar order of magnitude ratio. Values were calculated assuming the DevvExchange trading volume would lead to comparable levels of market making revenue per volume through its market makers including DevvISE. This assumption is unproven and can vary widely in actual results. Therefore, these figures are only intended to give a rough estimate of potential revenue, but should not be relied upon. As an additional reference, Cumberland, a crypto market maker, was described to have made over $400 million in revenue by a 2024 SEC complaint against it. The information herein is not intended to provide, and should not be relied upon for, accounting, legal, or tax advice or investment recommendations. You should consult your tax, legal, accounting, or other advisors about the matters discussed herein. We believe the information contained in this document to be reliable but make no warranty or representation, whether express or implied, and assume no legal liability for the accuracy, completeness or usefulness of any information disclosed.

Revolutionary collaboration brings safety, compliance, and institutional-grade access to the digital asset space.

Paris, France — April 8, 2025

In a landmark announcement made today at Paris Blockchain Week, DevvDigital and Banque Delubac & Cie have unveiled a strategic partnership set to reshape the future of finance. The collaboration marks a critical turning point for the digital asset ecosystem, unlocking new, compliant pathways for traditional financial institutions to participate in the world of decentralized finance (DeFi) with confidence and security.

The partnership combines DevvDigital’s breakthrough technology platform, DevvExchange, with Delubac’s regulated banking infrastructure to create a new model of “Crypto Without Chaos.” This integrated solution offers institutions the safety, regulatory compliance and control they require, while delivering the speed, innovation, and access to yield opportunities inherent in DeFi.

“For too long, DeFi has been out of reach for most of the financial world due to issues with volatility, security, and compliance,” said Ray Quintana — CEO DevvDigital. “Together with Delubac, we’ve created a pathway that allows banks, asset managers, and other institutions to safely engage with digital assets and DeFi products for the first time — with zero counterparty risk, private key protection, theft protection, and real-time settlement.”

A New Financial Infrastructure for the Digital Age

DevvExchange offers a non-custodial exchange platform with instant settlement, theft protection, private key loss protections, and privacy-preserving mechanisms that remain fully compliant with regulatory requirements. The platform’s Liquidity Caches — an evolution of traditional liquidity pools — allow institutional participants to deploy capital for exchange, lending, and yield-generating strategies without transferring assets into vulnerable smart contracts. This enables:

● Legally compliant yield opportunities with known origin of funds

● Tax-advantaged implementations that avoid unnecessary asset transfers

● Unprecedented protection against the problems rife in the crypto space such as private key loss, theft from hacks, and even in protection against platform bankruptcies

● True privacy aligned with global regulatory frameworks

“The future of finance goes beyond simply deciding between TradFi and DeFi — it’s a secure and seamless fusion of the two.” said Paul Bureau, Head of Cryptoassets at Delubac & Cie. “The DeFi space is filled with incredible innovations and opportunities, but it is not safe nor regulatory compliant. For the first time, with Delubac’s and DevvDigital’s efforts, we can combine the innovation of DeFi with the trust and security of TradFi. A world-changing concept.”

About DevvDigital

DevvDigital is a technology leader in secure blockchain infrastructure, offering groundbreaking non-custodial solutions for digital asset exchange, lending, and ownership. Its flagship platform, DevvExchange, delivers instant settlement, institutional-grade security, and privacy-focused compliance.

About Banque Delubac & Cie

Founded in 1924, Banque Delubac & Cie is one of the last 100% French family-owned institutions, recognized for its innovation and regulatory rigor. Delubac is the 1st French bank to have been registered as a Digital Assets Service Provider (DASP) and is at the forefront of integrating blockchain-based solutions with traditional banking infrastructure. Its tagline “Expert & Independent” reflects its DNA of freedom, uniqueness and pugnacity for a tailor-made service. Its tradition: daring for its customers.

Media Contact:

DevvDigital

marketing@devvdigital.com

www.devv.exchange

Delubac & Cie

relationspresse@delubac.fr PR agency: Louise-Marie GUINET & Laëtitia CHABOT +33 1 46 34 60 60 — delubac@wellcom.fr

Sign up at DevvExchange.com starting on April 7th 2025, to receive:

✅ Your early bird DevvExchange account & DevvX wallet
✅ A unique referral code to start building your affiliate network & maximize rewards
✅ Automatic entry into our epic prize raffle, where you could win:

• A Genesis NFT market valued around $10,000, giving you the best booster to your DevvISE reward share
• $5,000 in DevvE
• A Playstation 5
• DevvE swag

Limited-Time Bonus: The Founder’s Pack!

Sign up during Paris Blockchain Week (on or before Sunday April 13th 2025) and score a Founder’s Pack — a game-changing head start in our next community engagement phase!

What’s in your Founder’s Pack?

• A DevvISE Engagement booster! — Increase your earnings in the DevvISE Liquidity System!
• A First-Edition LitSquad Collectible Token — receive one of the very first minted LitSquad characters to showcase yourself in the community.
• A Private AMA with DevvExchange founder Tom Anderson — get the insights & ask your burning questions!
• An Early Bird Badge — flex your OG status in your DevvExchange account.

⏳ Don’t miss out! But don’t worry if you missed us at Paris Blockchain Week, you can still earn rewards as you grow within our community!

How to Join?

1️⃣ Go to DevvExchange.com on April 7th 2025 or later

2️⃣ Complete onboarding tasks to earn XP, boost your community prestige & unlock exclusive opportunities.

3️⃣ Collect raffle tickets for your chance to win!

You can then continue growing within our community further, in Lit Legion our native blockchain based social media platform.

Introduction

Liquidity is the cornerstone of efficient financial markets, enabling seamless trading and price stability across exchanges. However, many exchanges face significant challenges in maintaining consistent liquidity across many types of assets. As digital assets and the tokenization of real-world assets become more common, this problem will only increase. Insufficient liquidity leads to higher bid-ask spreads, increased price slippage, higher volatility, and reduced trading efficiency, ultimately discouraging user participation. Furthermore, fragmented liquidity across multiple exchanges creates inefficiencies, as traders must navigate multiple platforms to find the best execution, increasing costs and reducing market transparency.

In the cryptocurrency space, current solutions, such as liquidity pools and market makers, address some of these challenges but introduce their own limitations. Automated market makers (AMMs), commonly used in decentralized finance (DeFi), suffer from impermanent loss and inefficient capital allocation. Centralized exchanges rely on high-frequency trading firms, designated market makers, and omnibus wallets, which can result in monopolistic behaviors or withdrawal of liquidity during volatile conditions. These systemic issues underscore the need for an innovative approach to liquidity provisioning — one that enhances market depth, reduces inefficiencies, allows for liquidity to be applied across exchanges, and fosters a more resilient trading environment across all types of exchanges and all types of assets.

In parallel with liquidity concerns for exchanging assets on an exchange, there are other situations where an efficient solution providing for the immediate exchange of assets can be valuable. The development of efficient payment solutions using digital assets, where various digital assets can be used for payments, is an example of another opportunity but demonstrates additional challenges as well. One major hurdle is the volatility of digital currencies, which complicates their use as a reliable medium of exchange. Unlike fiat currencies, which benefit from relative price stability, cryptocurrencies experience frequent and unpredictable fluctuations that can affect purchasing power and settlement values. This volatility necessitates complex hedging strategies or the use of stablecoins, which introduce their own set of risks, including regulatory scrutiny, the security of underlying bailment solutions, and dependency on centralized issuers.

Another critical challenge is transaction speed and cost, particularly for blockchain-based payments. While traditional payment networks process transactions within seconds, many blockchain-based solutions suffer from scalability issues, leading to network congestion, high fees, and slower confirmation times. Layer-2 solutions and cross-chain interoperability protocols aim to mitigate these issues, but adoption remains inconsistent across different platforms and jurisdictions. Additionally, regulatory uncertainty surrounding digital asset payments further complicates mainstream acceptance, creating barriers to integration with existing financial infrastructure and limiting the potential for widespread adoption. Further, there is a challenge when customers want to pay in one type of digital asset, but sellers want to receive a different type of digital asset as payment.

Given these challenges, there is a pressing need for a system that can quickly and efficiently exchange and transfer digital assets.

DevvISE is a system that integrates a dynamic liquidity mechanism with an adaptive digital asset payment framework. DevvISE not only enhances liquidity distribution across exchanges but also establishes a more stable and efficient digital payment infrastructure, and implements a scalable and secure lending system, all of which pave the way for broader adoption of digital assets in financial transactions.

DevvISE Overview

DevvISE is a patented liquidity provisioning system underlying DevvExchange. It is comprised of Liquidity Caches (LCs) which can be used to provide for market making, instant conversions of one asset to another, and lending, as examples.

Users contribute to Liquidity Caches, where assets are held and utilized in coordination with DevvExchange. A Liquidity Cache includes a Primary Digital Asset (PDA) such as Bitcoin and Ethereum, and a Shared Digital Asset (SDA) including DevvE and Fias. The use of these assets creates revenue in various ways:

• Market Making: PDAs are used for market making activities with DevvExchange. Users that contribute PDAs share in the revenue created from the market making activity. Contributors to Liquidity Caches share in market making revenue.
• Instant Payments: Liquidity Caches are used to instantly convert any PDA to any other PDA through the use of SDAs. For example, DevvE can be used to convert Bitcoin to a stablecoin instantly with no counterparty risk. This functionality is ideal when exchange transactions need to be immediate, such as in a payment system. Contributors to Liquidity Caches share in payment fees.
• Lending: DevvISE’s lending system allows for lending and borrowing of crypto assets. The lending technology allows for riskless access to collateral on loans and on-chain contractual definitions managed at the core consensus level, rather than on smart contracts. The approach dramatically reduces risk and gives much better tax strategies compared to existing DeFi lending protocols. Liquidity Cache contributors can share in revenue created using our innovative lending programs.
• Exchange Fees: Contributors to Liquidity Caches share in the revenue created by DevvExchange itself, from traditional exchange fees.

DevvISE and DevvExchange are unique in their philosophy for growth — it is the first traditional regulated exchange system built on the premise of sharing in growth and upside with the community. Users can contribute to LCs and share in the revenue of the entire system.

How Does DevvISE Work?

DevvISE operates with several automated systems that utilize the assets in Liquidity Caches across various purposes. An Automated Market Making System adds limit orders to the DevvExchange order book through standard market making operations. A lending protocol allows for the lending of assets with on-chain legal contracts that eliminate risk to lenders for collateral. If an immediate payment is needed, a Payment Control System implements instant exchanges of assets.

For example, a Liquidity Cache’s assets can be used for lending, where a loan is defined on-chain and the collateral for a loan is secured at the consensus level. Assets do not need to be transferred into smart contracts, which can create unwanted tax consequences — the DevvISE system operates at the consensus level rather than at a smart contract level, therefore removing some of the most significant risks of security hacks. Collateral remains in a borrower’s account unless there is a default on the loan, and it is locked until the loan is fully paid off. Lenders therefore have absolute security within the lending platform. As with all of the activities within DevvISE, LC contributors share in the upside of the use of those funds. In Liquidity Cache lending pools, all of the ownership of assets are fully known and KYC’d, assets are fully protected with private key loss protections, theft protections prevent assets from being stolen through hacks, and the system includes privacy and a protective bailment solution. Overall, this is a good example of how DevvExchange can bring the innovation and power of DeFi into a context where TradFi institutions have the necessary protections required to take part in these types of systems.

Similarly, if a user wants to buy a cup of coffee at a coffee shop with Bitcoin, a scan of a QR code or a swipe of a credit card can trigger a series of transactions that all settle instantly using DevvExchange’s Contingent Transaction Sets. First, in order to buy the cup of coffee, a user’s Bitcoin is sent to the LC with DevvE and Bitcoin. That releases DevvE, through a mechanism similar to the operations of a Liquidity Pool, that is then sent to a DevvE and USD stablecoin Liquidity Cache, which releases USD. Then the USD is sent to the merchant. All three of those transactions are included in one Contingent Transaction Set, and all three go through at the exact same moment as part of a set controlled by the Payment Control System, therefore removing any middlemen or settlement risk. In this way, Shared Digital Assets like DevvE and Fias can be used to convert any asset into any other asset, instantly, without risk. Again, the assets held in wallets for payments include loss and theft protections, and users can pay directly with their assets, without having to top-off into fiat, and all while directly maintaining their direct access through private keys.

Because DevvExchange and DevvISE coordinate the use of assets for market making, lending, payments, and other uses, the overall system is incredibly powerful. LCs can be rebalanced removing risk around impermanent loss for immediate exchanges. Investors can put funds into LCs knowing that the system has guardrails and balancing mechanisms which keep assets within statistical requirements, while still making a strong return on investment on contributions to LCs.

If users want to contribute Shared Digital Assets like DevvE and Fias, they can contribute to Liquidity Seas which are used to create balance across collections of LCs that share those SDAs. Contributions into Liquidity Seas then share in the various types of revenue created by DevvExchange and DevvISE. Additionally, even when contributed to a Liquidity Cache, DevvE and Fias can be used as collateral on loans, giving particular utility to these tokens where the assets can generate revenue, but also where the underlying value can continue to be used. DevvE and Fias have the most utility in the system over any other token as they have these unique features and share across more revenue streams in the system than any other token type. Further, DevvE is the method of payment for all DevvExchange fees, and using it directly (rather than through conversion) reduces fees for users.

All of the features for all tokens used with DevvExchange and DevvISE include all of the key features and protections of the system.

• Users control their assets at all times. All interactions are non-custodial. Users can even trade using hard wallets, for example, where they maintain custody of assets that are sent and assets that are received during instantaneous settlement in an exchange transaction. A key philosophy of DevvExchange and DevvISE is “not your keys, not your crypto”.
• Users have full protection on all of their assets however they are used. Private key loss protection, and theft protection combined with lending, together allow for a user to be fully secure and safe irrespective of private key management itself. This is a revolutionary concept for blockchain, and will change the mentality of how the space thinks about safety.
• Privacy is a core aspect of the platform, but it is implemented in a way that is regulatory compliant.
• The bailment solution for DevvExchange protects the assets underlying wrapped tokens so that even if a platform goes into bankruptcy, users can still be fully assured that they have access to their assets.
• Our approaches eliminate many attack vectors like MEV and front running. We provide innovative solutions to prevent naked short selling and other types of manipulation.

Decentralized Finance has proven to be innovative and a high growth category, but it has not been available to Traditional Financial institutions before now, given the risks and lack of regulatory compliance in the DeFi space. We provide crypto without chaos. We bridge between the innovation and demand for DeFi, and the security and safety of TradFi.

We provide best-in-class opportunities to earn while also providing best-in-class security and regulatory compliance. We provide not only the next generation of user protections beyond even what TradFi gives, but fundamentally, we provide for the next generation of digital asset exchange, digital asset ownership, and the next generation of tokenization capabilities.