Payments in 137 SPAR stores across Switzerland now support ada, highlighting significant real-world adoption. The ledger team advanced nested transactions and performance restructuring, while the Lace wallet integrated Midnight mainnet support and the LaceID identity feature. Furthermore, the Mithril team completed signer authentication for SNARK verification keys. Research breakthroughs also established formal models for geographic diversity and Sybil-proofness in decentralized restaking networks.

MoneyGram has joined the Midnight network as a federated node operator, while the Cardano Foundation officially assumed stewardship of Project Catalyst. Yoroi now supports dual rewards for ada and night tokens. Additionally, performance benchmarks for node v.10.5.4 and v.10.6.2 were released, and the Leios team demonstrated a working prototype capable of producing endorser blocks under high load. Mithril also advanced its development of succinct SNARK proofs.

Node v.10.6.2 is live, featuring structural enhancements and preparing the network for the version 11 hard fork. The ledger team progressed with nested transactions and account address improvements, while Hydra v.1.3 focuses on production adoption. Coinbase now accepts ada as loan collateral, and the Leios prototype successfully minted endorser blocks under load. Finally, Messari released the Q4 2025 report alongside Intersect's committee election announcement.

Node v.10.5.4 has been released, introducing critical patches to enhance the robustness of the diffusion layer. The consensus team integrated network packages for the upcoming node v.10.7 and further advanced the Leios prototype. Meanwhile, the Mithril team implemented new succinct proofs and SNARK-friendly certificate chains. Simultaneously, the Leios team moved toward finalizing protocol parameter recommendations through extensive research and simulations to analyze network traffic under load.

The High Assurance team has launched an early access program for its automatic formal verification tool, inviting developers to help shape the future of smart contract security. In scaling updates, Mithril distribution 2603.1 is now available, featuring a decentralized message queue protocol and Blockfrost API integration. Furthermore, the IOG Research team officially closed Work Package 25 by submitting its comprehensive 2025 end-of-year reports to Intersect.

Cardano node v.10.7 development and Leios endorsement block prototyping are advancing, pushing the network toward higher throughput. The Hydra team focused on performance optimizations and a Raspberry Pi demo, while Mithril prepared distribution 2603.1-pre with DMQ protocol support. Furthermore, Intersect is coordinating an intra-era upgrade to protocol version 11, laying the groundwork for enhanced governance and scalability features.

The updated Cardano constitution has been ratified and officially took effect on January 24, marking a pivotal step in decentralized governance. The ledger team finalized the design for nested transactions (CIP-118) and began implementing account address enhancements (CIP-159) for the upcoming Dijkstra era. Simultaneously, the Mithril team focused on SNARK-friendly libraries and prepared the infrastructure for the decentralized message queue (DMQ) network deployment.

The final development report for 2025, dated December 12, highlights the approval of the Pyth Lazer oracle integration and Serviceplan Group joining Intersect as an enterprise member. The consensus team completed LSM-tree work, slated for integration in node v.10.7. Mithril made progress on its SNARK-friendly STM library and Bitcoin DeFi prover prototype. In governance, a critical vote is underway to restore the Constitutional Committee to full capacity, while Project Catalyst Fund15's community review period closes on December 15. The Midnight Redemption portal is live, and the NIGHT token is now trading on exchanges like Kraken.

The ledger team finalized the specifications for nested transactions, while Lace v.1.32 launched with a new notification center and NIGHT token support. Hydra v.1.2.0 introduced the "SafeClose" feature, and Mithril advanced its SNARK-friendly STM library. Additionally, Project Catalyst Fund15 moved into community review with 761 proposals, and a 23-hour virtual Annual Members' Meeting was successfully hosted.

The Leios development tracker was launched to provide a consolidated view of the protocol's global progress. The networking team focused on Cardano node v.10.6, resolving cardano-tracer issues and preparing for P2P-only networking. Project Catalyst Fund15 proposal submissions have closed, and Intersect is preparing for its 24-hour virtual Annual Members' Meeting in the Virtual Hub.