🏢 Ethereum Japan Launches Digital Asset Working Group

Pheasant Network made progress on several fronts this week: - **$PNT Contract Deployment**: The team successfully deployed the $PNT contract to their staging environment and began integrating the claiming page. - **AI-Powered Cross-Chain Design**: Started designing a new cross-chain transaction mechanism using artificial intelligence. - **Audit Preparation**: Requested quotes from audit firms as part of their security review process. - **Standards Research**: Investigated ERC-8128 and ERC-8183 token standards. These developments follow last week's test environment deployment and CCTP v2 integration design.

**Bridge Rankings Shift** MegaETH maintained its top position in bridge activity for the third straight week, followed by Optimism and Base. The latest rankings show: - **1st**: MegaETH - **2nd**: Optimism - **3rd**: Base - **4th**: Arbitrum - **5th**: Unichain Linea demonstrated notable performance despite missing the top five. **Notable Trends** MegaETH's sustained leadership marks a significant shift from earlier periods when Base frequently held the top spot. Optimism's climb to second place represents a change from previous weeks.

**Pheasant Network is now live on MegaETH**, offering fast and cost-efficient bridging from any network. Key features: - Bridge assets to MegaETH quickly and affordably - Special MegaETH quest campaign now active - Early users can explore new opportunities on the network Pheasant Network enables optimistic bridging between Layer 1 and Layer 2 networks. The integration aims to improve cross-chain asset transfers for users looking to access MegaETH's ecosystem.

Pheasant Network wrapped up the first week of February with significant progress on its upcoming token launch: **$PNT Development Milestones** - Completed end-to-end testing for $PNT token distribution - Prepared comprehensive test scenarios to ensure smooth rollout - Token launch moves closer to deployment after months of development **January 2026 Highlights** - Pheasant Points holders surpassed **120,000**, with 180M total points distributed - Monthly transaction volume reached **$6M** across 16,393 transactions - Community grew to over **150,000 members** CEO Tomo noted strong momentum carrying over from 2025, with particular interest from the AI sector following the project's $2M seed round announcement. The team completed major architectural updates to strengthen protocol stability while advancing token development. The network introduced new monitoring tools for transaction fees and status tracking, plus adjusted L1 to L2 bridging fees to reflect current network conditions. Development work also included building the claiming test environment, improving authentication systems, and researching dashboard APIs. [January Monthly Recap](https://x.com/PheasantNetwork/status/2019517084531605698)

**Pheasant Network** made significant progress in its latest weekly update (November 24-30): - **MegaETH Integration**: Successfully integrated with @megaeth, expanding cross-chain capabilities - **Token Distribution Infrastructure**: Designed database architecture for upcoming token distribution system - **Product Updates**: Released enhanced relayer system and frontend improvements in [v4.23.0](https://docs.pheasant.network/ecosystem/release-notes#v4.23.0-enhanced-relayer-system-and-frontend-november-25) - **Roadmap Clarity**: Published updated [roadmap and focus areas](https://x.com/PheasantNetwork/status/1993867371279237435) for community transparency These developments build on previous work including the claiming page design and token distribution research from earlier updates.