Sure, I can provide an update. In short, development of our cycles ledger is well under way and we plan to roll it out by the end of Q3 2023.
Obviously, unforeseen challenges may push the release into Q4 (or even next year) but we are on track so far.
The ledger will adhere to the ICRC-2 standard (which subsumes ICRC-1). It will probably also comply with the ICRC-3 standard currently under discussion.
The most interesting functionality for developers will probably be the integration with dfx, which aims to facilitate cycles management.
If you have any specific questions, please let me know!