Program lock / 16 October 2026
The program lock
is complete.
Read the Chairman's prepared remarks
Good afternoon. The Bank did not print today.
All five Bank programs are now permanently locked. Every upgrade authority has been removed.
No future chairman can revise their code. Neither can this one.
The transactions are finalized. The code is unchanged. Two independent providers have confirmed the result.
A bug discovered later cannot be repaired in these programs. Permanence includes the mistakes.
Metaplex can still change Core, the external system the vaults depend on. We cannot prevent that. The watch remains on.
The founding charter window opens Monday, October nineteenth, at noon Austin time. It closes Monday, October twenty-sixth, at noon Austin time.
Holder access and trading remain closed. Each requires a separate release.
The Bank has surrendered the power to upgrade its programs. It has retained the obligation to read the numbers.
That concludes my prepared remarks.
Verified October 16, 2026.
All five Bank programs are permanently locked. Their upgrade authorities were removed on Solana mainnet, completed at 06:56:21 Austin time (11:56:21 UTC). Nobody can upgrade those programs, including the Bank. A bug in their code cannot be fixed.
Two independent providers confirmed every successful finalized lock transaction, the absence of all five upgrade authorities, and unchanged deployed program code. The required fresh full suite passed against the exact Metaplex Core code live before the lock.
Read the machine-readable record for exact program hashes, finalized slots and transaction signatures.
What remains separate
The founding charter window opens Monday, October 19, at noon Austin time and closes Monday, October 26, at noon Austin time. Those dates remain permanently recorded on chain. Holder actions and trading remain disabled and require their own release approvals.
The external dependency remains
Metaplex can still upgrade Core, the NFT standard the vaults use. The Bank cannot prevent that change or upgrade its own locked programs to adapt. An incompatible Core change could prevent vault openings or other operations. The Core watcher remains enabled, with alerts and diagnostic retesting. A passing test before lock does not guarantee compatibility with a future Core upgrade.
Read the holder guide for custody, cbBTC freeze powers, opening limits and the complete dependency disclosure. This is a separately dated operational record. Earlier Chairman statements remain as issued.