The previous wallet track was a quiet battle behind the scenes of Tee's underlying infrastructure. Many viewers' grandpas are urging for updates backstage, so the Fourteen Lord will make another splash in 2025. Hyperliquid is undoubtedly the hottest topic of the year. This time, let's take an insider's look to connect the dots—examining wallets, exchanges, DEXs, and AI trading to see how they are all vying for dominance here! 1. Background In 2025, I have basically studied all the Perps-type (perpetual trading platforms) available on the market. I witnessed the hype market’s 5x growth and peak halving (9->50+->25). Amidst the ups and downs, is it really that competitors have left it behind? Or is it due to its hip3 and builder?

1. Introduction In the blink of an eye, the author has been cultivating in the wallet space for 4 years. Many people believe that the wallet space will be solidified by 2025, but the reality is not so — it is currently undulating beneath the surface, and this year: · Coinbase has launched a new CDP wallet, built on TEE technology. · Binance's MPC wallet introduces key sharding custody into the TEE environment; · Bitget just released the social login feature last week, which is managed by TEE. · OKX Wallet launches TEE-based smart account feature; ·

The wallet sector in 2025 seems quiet, but in fact, it is being redefined under the influence of TEE, social logins, and CeDeFi, gradually shifting from a tool to a financial gateway, paving the way for the next wave of application explosion.

1. Introduction In the blink of an eye, I have been working in the wallet sector for 4 years. Many people think that the wallet sector will be solidified by 2025, but this is not the case — it is brewing beneath the surface, and in this year: Coinbase recently released a CDP wallet built on TEE technology Binance's MPC wallet introduces key sharding custody within a TEE environment Bitget just launched a social login feature last week, built on TEE custody OKX Wallet推出基于 TEE 的智能账户功能

Original Title: Major Update from the World's Largest Social Platform Telegram, Your Graphics Card Can Mine TON Now Original author: Cookie Source: Reprint: Mars Finance Yesterday, Telegram founder Pavel Durov tweeted that their decentralized privacy computing network Cocoon is officially live. The Cocoon network consists of 3 parts: Client: Initiate a work request to the agent and pay the fee to the agent once the request is completed. Proxy: Routes work requests to work nodes. The proxy is protected by TEE and will select suitable nodes for routing based on the device model, load, and reputation of the work nodes, and will pay the fees collected from clients to the nodes, which will also take a certain commission. Telegram plans to allow anyone to run their own proxy in the future.

Author: Zhixiong Pan You actually already have a "hardware wallet" in your pocket. In our daily-use smartphones and computers, there are actually dedicated security chips built-in. For example, the "Secure Enclave" in iPhones, or the Keystore / Trust Zone / StrongBox in Android phones. This independent physical area is commonly referred to as a TEE (Trusted Execution Environment). Its characteristic is "write-only": the private key is generated inside and never leaves this physical area; external entities can only request it to sign data. This is essentially the standard for hardware wallets. These chips commonly use an industry-standard algorithm curve selected by NIST (National Institute of Standards and Technology) for signing: secp256r1. This is also the

The article discusses how Ethereum overcomes the contradiction between its security and user-friendliness, especially through EIP-7951 to achieve compatibility with mainstream security chips (such as TEE in mobile phones). This upgrade enables Ethereum users to easily sign transactions in designated secure environments, utilizing the mobile device's biometric technology for identification, thereby promoting the concept of "mobile as a hardware wallet," allowing future users to conduct transactions more conveniently without needing to understand the complexities of private keys or mnemonic phrases.

The infrastructure for the x402 track is currently still in a blank state. Although the market trend has taken away the "timing," causing applications like Launchpad and intermediaries like Facilitator to temporarily fall silent, it has provided the underlying infrastructure layer with more build time windows. Recently, Switchboard, an Oracle Machine project emerging from the Solana ecosystem, proposed to provide a data service layer for the x402 protocol. How exactly will this be done? 1) In terms of technical architecture, Switchboard uses a TEE (Trusted Execution Environment), which differs from the traditional consensus models of Chainlink, Pyth, etc., that rely on network verification. Data is directly transmitted to the chain based on a secure enclave. 2) In terms of protocol compatibility, Switchboard is compatible with the x402 protocol standard, enabling AI

Vitalik Buterin criticized FTX at Devconnect, reiterating Ethereum's "impossible to be evil" trust framework and examining the real challenges of decentralization practices. (Background: Vitalik and the Ethereum Foundation issued a "Trustless Declaration": If decentralization is sacrificed, the blockchain is just an empty shell.) (Additional context: Vitalik warned that "ZK is not a panacea": defense against coercion needs to be complemented by multi-layer structures like MPC, FHE, TEE.) At the Devconnect conference in Buenos Aires, Argentina, in November, with the stage lights still on, Ethereum co-founder Vitalik Buterin pointed directly at the already bankrupt FTX, opening with the core question: Should the crypto world trust the centralized commitment of "do no evil" or build a decentralized mechanism of "impossible to be evil"? Vitalik appeared with a new look and strongly criticized FTX.

The recent rise in the price of Privacy Coins has attracted market attention. The privacy Blockchain project Seismic has completed a $10 million financing round, bringing its total financing to $17 million, primarily for technology research and development. Seismic is EVM-based and designed for fintech, using TEE technology to ensure data privacy, and has launched the native execution client Seismic Reth. The project team is experienced and has launched its first application, Brookwell, which aims to protect user privacy while connecting Decentralized Finance and TradFi.

Vitalik Buterin emphasized that zero-knowledge proofs @ZKP@ should not be regarded as a universal solution for all problems, as they cannot resist external coercion. To enhance coercion resistance, it is recommended to combine multi-party computation @MPC@, fully homomorphic encryption @FHE@, and trusted execution environments @TEE@ to form a layered defense architecture, ensuring blockchain privacy and security.

Privacy in crypto is more than a buzzword—it's the cornerstone of a truly decentralized future, protecting users from surveillance while enabling secure, transparent transactions. In an era of increasing on-chain activity and regulatory oversight, understanding privacy-enhancing technologies (PETs) is crucial for navigating DeFi's $150 billion+ TVL landscape.

As a leader in decentralized key management networks, Lit Protocol redefines the boundaries of digital asset security and intelligent automation through the integration of multi-party computation (MPC) and trusted execution environments (TEE). Its highlight lies in achieving a perfect balance between "security" and "efficiency"—users can enjoy AI-driven full-chain automated operations without sacrificing control of their Private Key. As of September 2025, the network has hosted over $340 million in assets, covering 1.66 million Wallet addresses, becoming an essential infrastructure in the Web3 world.

Author: Kyle Samani, Managing Partner at Multicoin Capital; Translator: Golden Finance xiaozou Recently, the discussion on on-chain privacy has been gaining momentum, mainly led by Helius CEO Mert. We have invested a significant amount of time researching privacy technologies and have made considerable financial investments. Here are a few of our thoughts: Assets themselves are more important than privacy attributes. This means that users do not need random assets that "happen to have privacy features," but rather want to add privacy options to the assets they already favor/hold. For 99% of people, the risk of asset volatility far outweighs the benefits brought by privacy. There are three main technical paths to achieve on-chain privacy: Trusted Execution Environment (TEE) Zero-Knowledge Proof ( ZK ) Fully Homomorphic Encryption ( FHE ) When evaluating the optimal solution, we first

In Brief iExec has deployed its TEE-powered privacy framework on Arbitrum, enabling developers to build scalable, secure, and privacy-focused Web3 applications while advancing multi-chain adoption. Decentralized cloud computing platform, iExec announced the deployment of its privacy framework o

Author: David C, Source: Bankless, Translated by: Shaw Jinse Finance Last week, the annual Ethereum Community Conference (EthCC) attracted thousands of attendees in Cannes, with the sweltering Mediterranean heat doing nothing to dampen the enthusiasm of participants for the packed agenda. While the broader discussions surrounding Ethereum, the Ethereum Foundation, and the Ethereum Community Fund are worth analyzing separately, the most striking signals from this conference came from the surrounding ecosystem—topics such as the tokenized market, mobile experience, and privacy infrastructure were frequently mentioned during the exchanges at the conference. Privacy: Institutional Premise It has been refreshing to hear so much discussion about privacy this week. People are not only interested in it from a technical perspective (given the plethora of acronyms like TEE, FHE, MPC, ZK, etc. emerging today), but they are also paying attention to it from the practical standpoint of daily life. I交

Today's zone market capitalization: $9.54B +1.22% The market is stable without surprises, and on-chain AI is aggressively pursuing Web2 with trust engines like TEE/ZK, while also connecting to entry points like Amazon e-commerce, accelerating the transition of Crypto into the real world. 📈24h Coingecko Trading Volume Top 10: Token Trading Volume Market Capitalization Price Volatility 1- $VIRTUAL $134.0M $1.0B $1.54 -0.1% 2- $SAHARA $124.1M $160.6M $0.08 -2.0% 3- $BANANAS31 $65.3M $156.3M $0.02 +9.6% 4- $TAO $54.7M $2.9B $326.19 +1.5% 5-

Author: David C, Source: Bankless, Translated by: Shaw Jinse Caijing As concerns about surveillance and data development intensify, the cryptocurrency sector has recently accelerated the integration of privacy-enhancing technologies (PET) into its core infrastructure. Blockchain is designed to be completely transparent. While the crypto industry has long emphasized privacy methods (such as token mixers or privacy-based tokens), it has also been working to expand the scope of privacy (beyond simple DeFi and payments) without restricting privacy to specialized networks. As blockchain is increasingly applied in artificial intelligence training and institutional financing, the adoption of alternative cryptographic technologies is also becoming more popular. Among them, four technologies are particularly hot: Multi-Party Computation ( MPC ), Fully Homomorphic Encryption ( FHE ), Trusted Execution Environment ( TEE ), and Zero-Knowledge Transmission Security Layer ( z.

Source: Outlier Ventures; Compiled by AIMan@Golden Finance Privacy has not disappeared; it is just waiting for the right moment to come. And that moment is now. For many years, privacy has been seen as a compliance checkbox or a philosophical ideal; today it has finally become a practical design choice. Governments around the world are strengthening AI surveillance. Major lawsuits are investigating how tech giants collect and monetize user data. In the cryptocurrency space, the crackdown on KYC is conflicting with the ideals of decentralization. Meanwhile, we are witnessing a surge in the use of AI agents, which are increasingly acting on our behalf but often lack effective user oversight or consent. In this environment, trust is the new scalability bottleneck. And privacy is no longer optional. Thanks to zero-knowledge proofs (ZKP), trusted execution environments (TEE), fully homomorphic encryption (FHE), and multi-party computation.

Unichain innovatively integrates TEE technology in its L2 blockchain to enhance transaction transparency, fairness, and combat MEV risks. Through TEE-based block building, Unichain prioritizes transactions based on fees, minimizing reliance on centralization and ensuring fair pricing reflective of network demand. Public attestation tools increase trust, while encrypted mempools and pre-simulation tools mitigate MEV risks. Future developments, such as Flashblocks, promise reduced latency and improved transparency. These advancements position Unichain as a pioneer in decentralized infrastructure, addressing the challenges faced by Ethereum in MEV practices.

Every day, people generate up to 402 million TB of sensitive data. As individuals become increasingly unwilling to share data widely, the demand for private computation of this data is growing. These solutions primarily rely on the infrastructure of Amazon Web Services (AWS), which accounts for about 30% of the global cloud computing market. However, AWS has several drawbacks, mainly stemming from its centralized architecture. Even through AWS Nitro

The market capitalization of the Crypto Assets zone has slightly risen, with $AIXBT and $GOAT leading the charge, and market sentiment is good. Among the top ten by volume, $VIRTUAL has the highest volume. The Testnet of Kite AI has been upgraded to Agentic AI economic design, and ElizaOS has shown great potential in TEE. Cookie Fun has achieved success, and Cookie DAO has performed outstandingly. Overall risk warning, the content of the article is for reference only and does not constitute investment advice.

METAVERSE leverages AI and TEE to automate trustless fundraising through decentralized coin offerings. Chain Games integrates blockchain for secure competitive esports with its CHAIN token. SHIBA INU continues to grow as a widely accepted, Ethereum-based, community-driven meme coin. SHIBA INU (S

Unichain innovatively integrates TEE technology in its L2 blockchain to enhance transaction transparency, fairness, and combat MEV risks. Through TEE-based block building, Unichain prioritizes transactions based on fees, minimizing reliance on centralization and ensuring fair pricing reflective of network demand. Public attestation tools increase trust, while encrypted mempools and pre-simulation tools mitigate MEV risks. Future developments, such as Flashblocks, promise reduced latency and improved transparency. These advancements position Unichain as a pioneer in decentralized infrastructure, addressing the challenges faced by Ethereum in MEV practices.

Nautilus is a new member of the Sui Security Toolkit that provides a trusted execution environment for Web3 developers to perform sensitive operations off-chain. The TEE can generate cryptographic proofs to ensure that the computation process is authentic and trustworthy, and developers can experience Nautilus on the Sui testnet. The tool supports privacy-preserving, verifiable off-chain computation to build privacy-safe applications such as data oracles, autonomous proxy flows, Web3 game logic hiding, and privacy authentication.

Vitalik's focus remains on the technical development of Ethereum. (Background: V God gave a speech titled "To da moon" for Ethereum: 12 seconds to complete L1 L2 communication, choosing two out of three verification methods: OP, ZK, TEE) (Supplementary background: Ethereum has fallen back to five years ago! "ETH/BTC" has broken below 0.02, creating a new low since 2020, and the community's fear, uncertainty and doubt (FUD) hasn't stopped.) On the morning of April 8, Ethereum founder Vitalik returned to Hong Kong after a year and attended the Web3 Scholars Summit. As usual, V God's speech was met with a full house and continuous applause. At the same time, market data shows that Ethereum's latest quotation has reached 1450 USD, having fallen over 60% from its peak of 4000 USD, and on April 7, it broke below the 1500 USD mark, with a single-day drop of over 15%. So,

Ethereum co-founder Vitalik Buterin explained Ethereum's long-term goal of achieving L1 and L2 native asynchronous communication within 12 seconds in a speech at the Web3 Scholars Summit 2025 in Hong Kong today (8), and proposed a 4-step scheme to reduce the L2 status confirmation time to 12 seconds. (Synopsis: ETHTaipei 2025 April is coming, three highlights are a sneak peek, and Wang Xiaowei, the new executive director of the Ethereum Foundation, will share the stage with V God) (Background supplement: V God AMA Highlights: Is Rollups a good thing for Ethereum or is it blood-sucking? What is the ultimate narrative of ETH? 3.0 Progress... Ethereum co-founder Vitalik Buterin appeared at the Web3 Scholars Summit 2025 in Hong Kong today (8) and delivered a speech, V

According to Mars Finance, the on-chain AI proxy fund bAI Fund has received an investment of 1 million dollars from Morph and Foresight Ventures. It is reported that bAI Fund is an on-chain proxy fund that operates in a Trusted Execution Environment (TEE), integrating quantitative trading, investment, and marketing to create a diversified AI proxy ecosystem. The fund supports creators in independently issuing AI proxy Tokens and promotes Decentralization governance.

In the Web3 era, TEE (Trusted Execution Environment) is becoming a key cornerstone of data security and privacy-preserving computing. From MEV protection to AI computing, from decentralization finance to DePIN ecosystem, TEE is building a safer and more efficient encryption world. In this report, we'll take a deep dive into this cutting-edge technology and reveal how it's reshaping the future of Web3. Chapter One: The Rise of TEE - Why It Is the Core Puzzle of the Web3 Era? What is TEE? 1.1 The Trusted Execution Environment (TEE) is a hardware-based secure execution environment that ensures data cannot be tampered with, stolen, or leaked during the computation process. In modern computing systems, TEE

Author: Jason Chaskin Source: paragraph Translation: Shanooba, Golden Finance If you haven't kept up with the progress of Ethereum research, Trusted Execution Environment (TEE) may be unfamiliar to you. But at the infrastructure level, TEE development has been going on for over two years. Flashbots first proposed the concept of TEE in its December 2022 article "The Future of MEV is SUAVE" with the aim of democratizing MEV access and enhancing censorship resistance. After years of research, they launched BuilderNet to put this vision into practice. When studying the TEE of MEV, Flashbots saw their broader potential in Ethereum, resulting in Rollup-Boost, a

The DeepSeek R1-14B model combines with the TEE trusted execution environment and runs privately within Nillion's nilAI, ensuring the security of user data. The production team has simplified the technical operation into three steps: user submits encrypted input, model runs within TEE, and secure answer is returned. This technology can provide a secure artificial intelligence interactive experience.

The TEE hardware in the Decentralization network creates a trusted computing environment called Decentralized Confidential Computing, which has spawned many interesting and market-focused use cases in the encryption field, including Agent, DePIN, and social media account management.

What is TEE? TEE security model? Common TEE vulnerabilities and their security best practices.

Author: prateek, roshan, siddhartha & linguine (Marlin), krane (Asula)Compilation: Shew, GodRealmX Since Apple announced the launch of private cloud and NVIDIA provided confidential computing in GPU, Trusted Execution Environment (TEE) has become increasingly popular. Their confidentiality guarantees help protect user data (which may include private keys), and isolation ensures that the execution of programs deployed on them will not be tampered with - whether by humans, other programs, or operating systems. Therefore, Crypto x

Source: Lumoz Background In recent years, the rapid development of blockchain technology has driven innovation in multiple fields such as DeFi, NFT, and AI. Solana, as a high-speed and low-cost blockchain, has gained widespread attention due to its unique consensus mechanism and high throughput. In large-scale application scenarios, L2 chains or application chains based on SVM have broad market space. In this context, Lumoz has proposed an innovative SVM chain solution (Lumoz SVM Stack) based on the SVM execution layer, combined with unique ZK and TEE technologies, bringing a new perspective to the industry. With its efficient scalable architecture and optimized algorithms, Lumoz SVM Stack can not only provide SVM

TEE breaks the distrust triangle of Agents, Phala empowers the transition from virtual to real in the Agent race.

Casper offers enterprise-grade PoS solutions with upgradeable smart contracts and energy efficiency, ideal for Web3 adoption. Phala Network powers privacy-preserving AI execution for Web3 through scalable TEE networks. Filecoin decentralizes cloud storage, ensuring file safety and reducing

This article explores several 'deterministic' trends in the AI Agent track. First, TEE will become the underlying infrastructure of the new wave of AI Agent trends; second, individual AI will become the most powerful Mindshare, with deterministic rise opportunities; third, ai16z will be the spiritual totem of the Open Source ecosystem of AI Agents; fourth, the AI Agent track will usher in many 'leading players', and the market will experience further maturity after a reshuffle; finally, the 'chaining' trend of AI Agents will further accelerate, requiring a trap to explore predictable directions around the Chain.

Based on Polkadot's parachain and computing platform Phala, in collaboration with infrastructure providers Succinct Labs and Conduit, a new Layer 2 network has been launched on the ETH chain. This Layer 2 rollup combines optimistic proof and Zero-Knowledge Proof, leveraging a technology called 'OP Succinct'. Phala is known for providing application deployment networks, utilizing trusted execution environments for security. Recently, Phala Network has partnered with AI agent development platform ai16z to build Eliza's TEE, providing encryption verifiability and improved privacy.

In the latest TechFlow news, on January 7th, the FHE project Mind Network announced a strategic partnership with Phala Network to create the next-generation secure zero-trust AI Agent solution through the combination of Trusted Execution Environment (TEE) and fully homomorphic encryption (FHE). This collaboration combines TEE and FHE to provide efficient and secure solutions for AI Agents. TEE supports AI Agents in securely processing data and models at low cost, and ultimately sends the inference results, loaded with FHE SDK encryption, to the FHE Hub of Mind Network for consensus verification. By combining TEE, FHE, and blockchain, end-to-end secure services and autonomous consensus capabilities are achieved. Phala Network is a new generation of TEE

**编者按：**文章介绍了 25 年的 AI 代理的投资机会，包括投资 DAO（daosdotworld、Vader AI），链上交易（Gekko Agent、BigTonyXBT），隐私与保密（TEE 代理潜力大），开发者工具（soleng agent 等），此外，文章预测未来新趋势如 DeFi 代理、NSFW 代理、群体智能等，强调早期布局和灵活应对叙事背后的实用价值，有望实现百倍回报。 **以下为原文内容（为便于阅读理解，原内容有所整编）：** 在十月，Virtuals 推出了 AI 代理代币化的概念。这是一次大胆的尝试，但说实话，大多数人并不关心，当时还太早。现在呢？Virtuals 的很多代理代币已经带来了 50 倍、100 倍的回报，突然间大家都开始关注了。 问题是……你现在看到的 50 倍到 100 倍的收益？如果你想获得类似的超额回报，你必须早点介入。你需要有一个强有力的论点，并且有耐心，在别人还没有发现之前就开始布局。 如果你现在才介入，可能只能期待 5 倍到 10 倍的回报——仍然不错，但远远没有早期参与者获得的 50 倍到 100 倍的收益，事后看起来总是容易的，对吧？现在还不算太晚，但你需要有策略。两个月前被视为「alpha」的机会现在不再是 alpha 了。Virtuals 的生态系统已经非常拥挤，低垂的果实早已被摘取。 我们现在该做什么？ 首先，不要局限于一个生态系统。Base 和 Solana，Virtuals 和 ai16z 之间的对比并不重要——这两个生态系统都有机会。关键不在于「为某一方效力」然后攻击另一方，而是要在任何地方都为好的机会做好准备。看看我，我无处不在——在 Base、Solana 以及其他任何地方谈论代理。没错，我偏向 Virtuals（我经常为它们发帖），但我保持开放的心态。关键是保持灵活，寻找价值，而不是 tribalism（部落主义）。 选择一个代理时应该看重什么？ 从本质上讲，成功的代理的关键在于独特性和实用性。如果没有实用性，代理代币就像 95% 的 meme 币——一个快速的炒作周期，接着就会变得无关紧要。代理必须有一个独特的产品，并提供实际的价值。 如果团队能理解「注意力游戏」这一点，那就更好了，他们能够围绕代理创造引人入胜的故事或传说，快速且持续地推出功能，积极地迎合社区的需求和要求。 当这些元素对齐时，代理就有可能找到产品市场契合度（PMF）。那些在找到 PMF 后继续执行和创新的团队——比如 aixbt agent——可以主导自己的细分领域，并成为生态系统中的支柱。 ### 以下是 CT 当前最看重的叙事和实用性： 获取和传递 Alpha 提供交易信号和见解的代理需求很高。例如： aixbt agent：Alpha 聚焦代理的黄金标准。其他值得关注的 alpha 代理：  ### 投资 DAO 由人类或 AI 代理运营的对冲基金风格 DAO，利用它们的财政资金进行投资。 **示例：** Base 上的 daosdotworld 生态系统 Virtuals 上的 Vader AI 、wai combinator、sekoia virtuals 和 aixCB Vc Solana 上的 daosdotfun 生态系统 **投资 DAO 之所以强大，是因为它们提供了：** 对高质量代理的背书。 为投资组合项目提供分发渠道。 提供早期且折扣的场外交易（OTC）轮次，通常能带来超额回报。 **想深入了解投资 DAO：**  ### 链上交易 链上交易是一个与 CT 社区深刻共鸣的叙事，因为我们喜欢看到有人把 1,000 美元变成 1 百万美元的奋斗过程。这不仅仅是关于钱，更是关于看到某人拼搏并成功的刺激感。交易代理的第一个版本将会利用这种能量。它们将专注于投资组合的增长，实时展示它们的框架和策略。这是一个早期的叙事，但已经在一些令人兴奋的玩家中逐渐成形。 **示例：** Gekko Agent：在 Virtuals 上的自我改进交易代理，利用 getaxal 的基础设施来提供结果。 BigTonyXBT：基于 Cod3x，专注于主要交易的自主执行。 ProjectPlutus ：拥有令人称赞的 meme 风格代号$PPCOIN，该代理结合了实时分析和自动化的 DCA 执行。 我预计链上交易代理将在 2025 年第一季度/第二季度成为关注的中心。 ### 面向开发者的实用工具 随着生态系统的增长，开发者工具的需求变得至关重要。 **示例：** soleng agent：监控拉取请求，进行初步审查，并作为黑客马拉松的 AI 评审。 h4ck terminal：为赏金和漏洞检查提供服务的白帽代理。 CertaiK Agent：专注于代理的安全审计。 **关于 AI 黑客马拉松的更多内容：**  ### 隐私与保密（TEE） 由 marvin tong 和 PhalaNetwork 在 Solana 上开创的受信执行环境（TEE）使得完全自主的代理成为可能。 **示例：** 「无法被割韭菜的 ICO」代理 aipool tee sporedotfun：具有遗传特征并传递给后代的 TEE 代理。 神经网络实验，如 deepwormxyz。 目前在 Virtuals 上还没有 TEE 代理，第一个 TEE 代理肯定会在价值上飙升。 ### 超越叙事的玩法 预测未来的叙事，并在其他人之前布局，你将能够实现 100 倍以上的回报。这种策略是我当初以不到 3000 万美元市值进入 Virtuals 的原因。 **2025 年的新兴叙事：** DeFi 代理 NSFW 代理 机器人技术 数据 代理的游戏化 群体/集体智能 基础设施 我在我的文章、帖子和推文中概述了这些叙事中的项目和玩法。如果你一直关注，可能已经看到其中一些项目实现了 5 倍到 20 倍的回报，这是你积累代际财富的机会。或者你也可以在假期里放松，看着机会消失。选择权在你。建议从以下几篇文章开始，它们对 AI 代理领域进行了全面的回顾： 2024 年 AI 代理：回顾与未来展望（第 2 部分/2） 2024 年 AI 代理：回顾与未来展望（第 1 部分/2） 「原文链接」

近期 AI Pool 成为 AI Agent 赛道的热点方向，AI pool 被认为开启了 AI Agent 资产化。AI Pool 创始人是Skely，Skely 同时也是ai16z的成员之一。比较有趣的是，自开始预售到发稿，Skely 的 X 都被冻结了。在这种情况之下，AI Pool 预售的第一个项目Meteora一夜之间竟募集到超 3 万枚 SOL，甚至在宣布截止预售之后还有人源源不断打钱给 AI。AI Pool到底是什么？AI 预售和之前的预售有什么不一样？下文我们带这这些疑问进行探讨。 ## AI pool 核心机制 预售并非是市场新的切入点，根据创始人Skely 的观点，此次 AI Pool 预售主要解决的问题是市场存在的不信任问题，主要围绕两个方面。第一个方面，AI Pool 防止人为预售，庄家卷款跑路。这个市场痛点相信市场老玩家都深恶痛绝，不少的人在这点上吃过亏。第二个方面，对散户投资者更加公平的预售方式，现在传统的预售主要赢家都是阻击手/bot 等，pumpfun 的 PVP 模式更是让散户看不到希望。 不得不说，Skely 提到的都是散户的痛点，从解决问题的思路来看，Skely 的方法深得人心。接着，AI Pool 提出了自己如何解决这些问题的逻辑。AI Pool 采用的是 Trusted Execution Environment (简称 TEE) 技术。事实上，TEE 也并非是一种新兴的技术，那为什么能再次引起市场的关注呢？此次 AI Pool 基于 TEE 技术的老牌项目@PhalaNetwork，它的创新点在于把 AI 运行环境、智能合约调度以及去中心化共识治理三者结合，对链上资产托管问题是一种创新的尝试。AI Pool 具体是怎么解决的呢？ 首先，AI Pool 通过 TEE 技术，AI 自主生成私钥，自主保管私钥，任何签名只能在 TEE 环境下由 AI 执行，所以能从根源上避免庄家捐款跑路的现象；其次，AI Pool 通过 TEE 技术，通过和 Phala 合约在 TEE 环境中实现内部链和外部链的交互，并实现离线计算。这个机制能防止资金池被恶意狙击，同时有效规避包括高额动态交易在内的多种诈骗风险，这对于散户来说是更加公平的参与方式。这也是 @aipool\_tee 用于保护项目安全的重要手段之一。ai16z 创始人 Shaw 对此赞口不绝，并表示这个玩法玩可能颠覆 pumpfun 的发币机制。甚至在 Skely 账号被冻结时，Shaw 表示 bot 会部署 AI Pool 代币，非常看好该项目。于是，市场的热度再次被点燃了，社区认为 Bome 2.0 即将诞生。 AI Pool 预售的核心机制如下：募资，用户向 AI 钱包（预售地址 opRyDjuRetWnsP 78 FNFTPEnAJX 7 AkjuD 6 GTP 7 tsqHXd）发送 SOL，金额位 1-10 SOL（低于 1 SOL 视为捐赠）；AI Pool 通过 @PhalaNetwork 的 TEE（可信执行环境）技术发行代币；AI Pool 通过 Metoria 进行流动性管理，并自主分发代币。  Source：Ai Pool TEE News ## AI pool 所发行的代币 AI Pool 发行的第一个代币是METAV，募集到了超 3 万枚 SOL，其中 TOP 3 超额资金占 82% 。截止到发稿前三名地址中，大部分 METAV 代币已售出。METAV 的特色是代币池里设置了交易税，买卖之间的税率为 20% 。目前，创始人的 X 账号在平台人工审核之后还未解封，METAV 代币还有 10% 的空投未发放。 METAV 市值高峰达到 8, 000 万美元，现回落至 3, 810 万美元。METAV 目前社区成员出现了两种声音，一种声音认为这是 AI Pool 发行的第一个代币，所以一些社区成员依然坚定看好。另一种声音认为，METAV 税率太高了，且池子也锁仓了（下图中目前锁仓超 2 千万美元），导致资金很难流入。  Source：app.meteora 相比 METAV，AI Pool 后面发行的代币从社区情绪到市值表现上都不如 METAV。比如其发行的第二个代币GFC，目前市值仅为 71 万美元，GFC 的主要叙事是为 DEI 提供资金，社区情绪表现一般。 ## AI pool 发行机制能走多远 目前从 AI Pool 的发行机制来看，也并非完美无缺。以 METAV 发行为例，从募集开始到募集结束都存在不同的问题。募集开始时，对于项目的规划并不明确，大多数社区用户都是抱着搏一搏的心态去参与；募集结束后，社区用户依然可以向 AI 地址转币，并没有比较人性化的机制；募集结束后，代币发行上也存在很多问题。比如转了 1 SOL 的用户，被强行捐赠了。还有很多大户，延迟收到 METAV 代币，更有大户迟迟未收到代币，被强行锁仓。 做为一个新事物的出现，市场给予的态度是包容的。AI Pool 是 AI Agent 资产化的一种创新形式。创始人 Skely 也认为这是一个创新的实验，此前他在推文中表示，AI Pool 当前主要盈利模式是通过 Metoria 流动性池收取少量手续费，但目前具体的比例还未知。在V2及后续版本中，将计划让 AI 代理完全实现自治，甚至融入 DAO 治理，AI Pool 产生的手续费收益也将惠及所有参与者。此外，为了防止恶意操作会加入白名单的机制等。 从 Skely 的规划上看，似乎能明显解决V1中出现的各种问题。AI Pool 所发行的第一个代币 METAV 的成功在于 Shaw 的大力支持，以及创始人 Skely 本身也是ai16z的成员之一，这些背书无形之中给 METAV 注入了一些新的流量。但需要注意的是，目前 AI Pool 还是处于刚起步的初级，很多机制也并不完善，在代码的开源性上并不透明，项目是否真正采用了 TEE 技术也需要验证。 值得注意的是，针对 AI pool 以上存在的一些问题，市场马上给出了回复。ai16z开发者社区的 focEliza 就提出能快速感知并修复 AI Pool 运行中存在的问题。focEliza 社区提出通过技术处理，任何人都能像区块链浏览器一样，公开查看和验证 TEE AI 代理的可验证日志，并公布了体验的链接。focEliza 社区甚至提出了全链的 AI Agent，如下图所示中ai16z和 BTC、ETH 也能产生更多交集？这些愿景看起来真的很酷！  Source：@CP 2426 \_ ## 小结 AI Agent 发展至今，叙事上进行了多种的演变。目前 AI Agent 可以实现发行文字/发行音乐/发行 NFT 等多种类别的虚拟资产，可以实现 Agents 之间的交互，也有和现实生活结合的案例，也可以实现帮助人类做投研分析等。从虚拟环境到和现实生活结合，从基础设施到应用代理，AI Agents 进行不同的探索。 但从目前看，更多的 AI Agents 依托的是 Meme 的叙事。很多项目在新叙事出现之后，随着市值的回落，社区情绪及关注度也逐渐退出市场。但可喜的是，伴随着 AI Agents 的不断的进化，我们可以观察到更加精彩的链上世界，并间接推动底层技术的不断创新。比如此次 AI Pool 之后的，ai16z开发者社区的 focEliza 在市场信任问题上的进一步探索。 最终，或许我们能真正见到 AI Agents 能应用到我们生活的方方面面，AI Agents 能造福人类，推动社会的跨越式的发展。

AI agents becoming a new hotspot in the cryptocurrency market, AI16Z project leading the trend, Market Cap surpassing 1 billion US dollars; TEE technology provides key support for the development of AI agents in blockchain; the market has different opinions on the prospects of AI agents, but it is generally believed that it will bring new opportunities for the cryptocurrency industry.

Author: Haotian Many people are puzzled, why did $PHA inexplicably become popular? In abstract terms, perhaps even @PhalaNetwork did not expect it to suddenly become the chosen one. Because the popularity of PHA has both accidental and inevitable reasons. It is indeed not something that can be achieved by any conspiracy, mainly due to three key points: TEE technology is well prepared, hugging the thighs of ai16z, and the AI Agent is in the right place at the right time: 1) The cultivation of Phala Network in TEE technology is the "inevitable" cause of this, why is that? Although TEE (Trusted Execution Environment) is not a new concept, it has always been a niche topic in the mainstream technology narrative of the past few years in the Crypto world. For example, there have been many comparisons between RUST and MOVE.

Compiled by Felix, The dominant narrative in 2025 is the narrative of collective wisdom. With the rapid development of individual agents and the leadership of ecosystems such as Virtuals, Story, and ai16z, this transformation seems inevitable. TEE (Trusted Execution Environment) is another key pillar of fully autonomous AI agents. Projects such as Phala Network and founder Marvin Tong are leading the way, with experiments such as the "Unruggable ICO" in collaboration with Skely (founder of aiPool). Investors use TEEs to send funds to the agent, who securely calculates the number of ICO tokens to be distributed based on the funds received. Related reading: Phala

Source: Dao Blockchain These days, two AI agents have used a technology that has been around for a while but has never been very popular: TEE. The full name of TEE is Trusted Execution

It's really interesting to give AI Agent money for asset issuance! Originally, I thought that AI Agent combined with a blockchain verifiable architecture could achieve autonomous asset management, autonomous implementation of intent trading, and autonomous cross-chain interaction seamless trading. But obviously, this vision is still far away. However, Aipool appeared to be used for pre-sale, anti-rug pull, and anti-MEV, which is also an upgrade to the current DeFi experience. Let's talk about the good news that is close at hand: . 1) The overall engineering implementation of aipool is not complicated. Users send SOL (non-CA address) to the wallet address of the AI Agent, and this address generates a private key in the TEE environment and pre-sets access permission to manage the Pool. When certain conditions are met, AI will automatically create a liquidity pool on the chain's DEX and distribute tokens to eligible participants, and the collected transaction fees will be aggregated to the AI wallet;