In the latest Liquid Federation update, we look back on Q4’s progress from a bird’s eye view, highlighting exciting new developments coming from federation members, and looking forward to how Liquid will make an even bigger splash in 2026. 

Liquid Is Making Waves

Q4 kicked off with two exciting Liquid Developer Bootcamps in Mexico City, Mexico and São Paulo, Brazil. Focused on Simplicity (which went live on Liquid mainnet in Q3), nearly 100 developers participated in total, with participants in Brazil competing for $6,000 in BTC rewards. 

Here are the three winning projects that were announced at Satsconf, to give you a small taste of the incredible community talent working on Simplicity:

• Mare Nostrum: A proof of concept for discovering Simplicity contracts via Nostr
• Simplicity Playground: An upgrade to the SimplicityHL web IDE UI
• Partnerfy: An event voucher contract mechanism

The end result of this hackathon? More Simplicity contracts out in the wild, and a showcase study of the budding Liquid adoption taking place throughout Brazil.

To get involved in the Liquid community:

• Join the Liquid Community Telegram
• Follow Liquid on X
• Join the Simplicity Office Hours

Meanwhile, behind the scenes, a number of preparations for 2026 protocol upgrades are underway, including the ability to pay fees in multi-assets, 0-conf, and a planned hard fork that modifies the 21M issuance limit on Liquid mainnet.. Altogether, these changes help to streamline and maximize the user experience for app builders and institutions. Review the ELIPs yourself.

Q4’s key developments help paint the full picture for what’s taking place on Liquid:

Widespread adoption. Widespread impact.

A year’s worth of heads-down building, community growth, and escalating transaction count all culminated in Q4’s grand tidal wave. You can literally see it on the chart!

With almost 700,000 transactions in Q4 of 2025, Liquid transactions have more than quadrupled since the year prior’s Q4. December alone saw over 242,000 transactions, marking the network’s highest ever single month of transactions.

In total, 2025 tripled total transactions taking place on Liquid, attributed to a collection of efforts, with two primary drivers being increasing popularity of Boltz and the Breez Nodeless SDK infrastructure as well as a huge uptick in Liquid-based stablecoin usage and swaps via SideSwap’s growing app integrations.

Total Value Locked (TVL) keeps on climbing as well. Starting the year at ~$3B, Liquid is capping off 2025 with close to $5B in TVL. 

Blockstream Ecosystem Advancement

Blockstream has kept busy with a range of new consumer product updates for both the Jade and the Blockstream app. The Blockstream team improved Jade’s camera in a series of two updates, speeding up scan time once by 35%, then another by 40%. Air-gapped Bitcoin management with QR scanning is proving to be not only safer, but now easier than ever before thanks to these enhancements. Along with the camera refresh came a critical 1.0.38 update which enables anti-rollback. This security enhancement ensures that bad actors can’t trick users into downgrading their firmware, acting as a safeguard from being exploited through outdated firmware versions. 

On the app side of things, two key features rolled out in Q4: PSBT exporting and Liquid<>Lightning swaps. 

• You can now save Partially Signed Bitcoin Transaction (PSBTs) created in the app as a file to save on your JadeLink or other trusted USB drive device, and export to your Jade Plus for signing.
• Liquid<>Lightning swaps leverage trustless submarine swaps to allow users to pay Lightning invoices using their Liquid Bitcoin (LBTC) balance and receive Lightning payments directly to LBTC. 

Breez: Bitcoin in Every App

Lightning went mainstream this year, cementing itself as the common language of the Bitcoin economy. Breez saw exponential growth in partners integrating with the Breez SDK, reflecting rising demand from builders shipping Bitcoin-powered apps and services. Alongside this momentum, Breez continued expanding its Nodeless SDK to give developers best-in-class tools to build with. Finally, in Q4, the Breez team launched the </time2build> challenge to bring Bitcoin into existing open-source apps used by millions around the world.

There has never been a better time to build on Bitcoin. While the money printer melts away cash’s value (and our freedoms), Bitcoin is rising to solidify itself as the solution. Breez refuses to waste any time during this unique transition, and events like these demonstrate how they put their preaching into practice.

Builders competed for a $25,000 prize pool, with $7,000 being distributed to the top-ranked projects. But that’s not all: Breez offered a special set of prizes that will get builders out into the field to meet, learn, and collaborate with other talented Bitcoin developers. 

Mooze App Evolution

Mooze is the gateway platform to seamless Bitcoin access. Buy Bitcoin and Liquid assets, receive payments, and exchange freely, all in one place. The latest iteration of the app went live in December, moving out of beta and into full production. Several UI/UX enhancements have come together to make Mooze wallet management easier than ever before. Mooze has locked arms with Breez to offer in-app Lightning and Liquid support, meaning faster and cheaper payments for everyday users.

• For Android users, you need to download the app again directly from the Mooze website.
• The iPhone version is under review in Apple's TestFlight. Just wait for Apple's approval—no manual action required.

The old app will stop working as of December 31, 2025. To continue using Mooze without interruptions, be sure to update as soon as possible!  

Sorted’s Integration Operation

Sorted Wallet is on a mission to make global payments more accessible. Its Q4 releases are advancing that mission on all fronts, with new infrastructure to support the mundane financial activities that everyday users need.

• Cash-Out went live in Tanzania and Kenya, ensuring these countries’ users have a low-fee, clear-rate off-ramping experience from USDT to local currency in just minutes.
• In December, Sorted integrated price feeds and CCIP to deliver transparent FX rates and seamless cross-chain USDT settlement for everyday users, lowering friction and making stablecoin payments work more efficiently.

An Ocean of Potential Ahead

Liquid found its stride in 2025, but 2026 may be its defining year. 

Skyrocketing network activity, rapidly growing TVL, and exponential adoption are signaling a technology that’s found its place. Liquid is Bitcoin’s financial layer; its unique properties of speed, UTXO efficiency, and Confidential Transactions complement Bitcoin’s immutable base layer.

In the coming weeks, the Liquid Federation will share a public roadmap outlining new feature sets and upgrades planned for the near term. These include multi-asset fee payments, near-instant settlement with 0-conf, and other improvements aimed at furthering institutional adoption. The roadmap will also highlight future release updates for the Liquid Wallet Kit (LWK) that will prioritize adding Simplicity and AMP 2.0 capabilities to the toolkit.

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