We opened June by being clear with ourselves about what had to ship: the integrations we'd been teeing up, the external security audit, and another push on the AI. The good news is we shipped what we said we would, so we are happy.  Base and Uniswap v4 are live for testers, Hyperliquid is integrated, the audit is finished and published in full, and the AI work moved forward.

May was the month we held access back because we weren't ready on two things. June closed the audit, which was the gate holding wider access to users. With the report out, July is going to be important for the whole team. 

Let’s go into the details.

Our CEO put out the vision for Nabu. Not a product update, the bigger argument for what we're building. Good strategy is stuck private, where capital can't reach it, or public, where the edge gets copied out the moment it works. Nabu's answer is selective disclosure: policy public, alpha private, so capital can judge a strategy without the author torching what makes it work. Vaults made capital programmable. Nabu makes strategy investable.

We turned the new venues into a strategy list, built from what testers actually want. With v4 and Hyperliquid landing, we asked the current testers which strategies they'd want to run on them and used that to put together a spot-only list. We did the same for perps, this time leaning on our own research alongside the feedback. So when we open these up, there's already a sensible set of strategies for each venue ready to go.

Our best month yet on X. Organic impressions on X hit 140K, the most we've ever had. Website active users came in at 2K, up from 1.2K last month, about a 67% jump. We're still not reading much into follower count on its own, but reach and on-site activity both moved in the right direction.

The first trading competition is built. We've set the rules, the eligible strategies, the prize structure and the leaderboards. Traders go head to head to see who runs the best strategies, and it goes live soon. There are limited seats so make sure to follow us so you can participate. 

Lining up announcement partners ahead of the next integrations. Opening arbitrage between perp DEXs needs more venues, and we've started that work. Alongside the integrations we've opened conversations with several well-known names in the space to line up announcements and campaigns, ready to fire the moment each integration is live.

Base is live, and it brings Uniswap v4 with it. Base is in the venue picker for testers now (chain ID 8453), and strategies execute there through Uniswap v4, so you get v4 from the start with no extra setup. Base does two things for the strategies you run. The first is cost. A swap that ran about $0.17 on Ethereum mainnet comes in around $0.001 on Base. A tenth of a cent.

Both numbers are on-chain, so go check them yourself. That gap is what decides whether a strategy is worth running onchain at all, arbitrage most of all, where a chunk of every spread used to vanish into gas before you'd captured it. Cheap execution makes the thin spreads worth taking and the fast, small-clip strategies workable, with none of the strategy logic changing underneath. The second thing is reach. Base brings a wider set of tokens, including ones that weren't reachable before, and on v4 a lot of them trade in direct pairs rather than routing through an intermediate asset, which means fewer hops and less slippage. Coverage at launch spans the pairs with real depth, roughly everything trading above $50k in volume, so there's a genuine market to work with from day one. None of this touches custody: execution runs from your own account and Nabu never holds your funds.

Hyperliquid integration shipped. Hyperliquid is integrated. Market data is flowing and the trading path is landing now. It brings perps into Nabu for the first time: basis trades, funding-rate plays, perp/spot arb across venues. Live for testers in July.

Paper testing: try a strategy before you fund it. You can now deploy any strategy in paper mode. It runs exactly like a live one, real market data, real order flow, the strategy running its actual logic, but it never touches real funds. No live orders, nothing on-chain. You give it a starting balance, let it run, and watch its PnL and fills on the normal dashboards. A new user can validate what the agent built and see how it behaves before committing a cent. It takes the risk out of the first run.

The Neplox audit is done, and we published all 23 findings. Neplox spent two weeks on the app and account layer: client-side security, login and permissions, and how the trading wallet connects to Privy.

They came back with 23 issues. Everything rated Critical, High or Medium is fixed and re-checked, which is 20 of 23 closed. The three left open are Low and Informational, reviewed and accepted with the reasoning left in the report. Both criticals were real and exploitable, with working proof-of-concepts and fix commits you can read for yourself. We published the whole thing rather than a write-up of the flattering parts, because Nabu asks traders to verify execution on-chain instead of taking our word, and an audit holds us to that same test. Full report here.

Improve the product through AI, and start onboarding at scale. With the audit closed and the report out, two jobs come forward. We keep pushing the AI, sharper generation and a shorter path from idea to a live strategy. And we start onboarding properly, moving from the small tester group to real numbers. We're partnering with an agency to run campaigns, and we'll name them once the agreement is signed, alongside our own strategy-creation campaigns. Strategy templates land here too, ready for new users to build from. The goal for the month is 100 users running wallets between $500 and $1,000.

More chains, more venues. July widens the surface the agent has to work with. We're adding Arbitrum on the chain side, with a set of new venues alongside it: Binance, GMX and Ostium for on-chain perps, 1inch for better on-chain pricing and routing, and more centralized perp venues coming behind them. Every one of these is more pairs and more routes for the agent, plus strategy types that only open up once the venue's actually live.

The audit was the thing we'd been gating wider access on, and it's closed now. So July is about opening up to a much bigger group and pushing for real volume, while we keep grinding the AI fees and the onboarding path down.

— Nicky, Evgenii and the Pelagos Team