This Crypto AI & Robotics newsletter consists of four parts:

1. Snippet Partner (CodecFlow)

2. The “AI bottleneck Investment Thesis”

3. Crypto AI & Robotics Market Analysis

4. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

CodecFlow is building the execution layer that AI agents have been missing. While the rest of the market chases smarter prompts, CodecFlow gives agents hands

As covered in the Khala Research Decentralized Robotics report, CodecFlow acts as the operational layer for embodied AI, bridging the gap between AI models and physical-world execution

The CODEC SDK provides robots with access to vision-language-action (VLA) models via decentralized compute nodes. To date, Codec has served 2.8M+ inference calls across 450+ models and 1,200+ compute suppliers

The platform provides on-demand computing environments where AI agents can see, reason, and act across screens and robotic systems. Traditional automation breaks when software changes; CodecFlow agents adapt visually, like humans do

SimArena is their new simulation arena where agents compete, train, and iterate in controlled environments before deploying to production:

Think of it as the training ground for the next generation of autonomous operators:

• Fabric: Multi-cloud execution layer that optimizes workload placement by sampling live capacity and pricing across providers, selecting the lowest-cost node that meets requirements

• Operator Kit (optr): Lightweight toolkit for building agents that operate on desktops, browsers, simulations, and robots with composable utilities for managing actions, state, and safety

• SimArena: Competitive simulation environment for training and benchmarking agent performance

CodecFlow has active integrations with Chainlink’s Runtime Environment and supports deployment across public clouds, private clusters, and decentralized peers

CODEC is the native token powering the CodecFlow ecosystem on Solana

Learn more: Link

This newsletter goes out weekly to 7.2k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

The “AI Bottleneck” Investment Thesis

Power is the cap on AI scaling. Jensen Huang (NVIDIA CEO) said it directly:

“energy is the bottleneck.”

It’s underpinned by investing in products or infrastructure that alleviates the friction points, or “bottlenecks”, around AI continuing to scale at the current rates of change

This thesis is investable in both crypto & traditional equities and has institutional backing from one of the best-performing AI funds in market

Leopold Aschenbrenner’s Situational Awareness LP grew its disclosed gross exposure from ~$255M in Q4 2024 (first 13F, 6 holdings) to $5.5B by Q1 2026:

Underlying assets under mgmt. (AUM) is ~$383M per the firm’s ADV: the $5.5B is gross 13F exposure including options notional, so the fund runs significant leverage

Largest disclosed holding: Bloom Energy at 16% of book:

The 2024 Situational Awareness essay is the cleanest articulation: AGI by 2027 demands trillion-dollar compute clusters, with electricity generation and computing capacity as the binding constraints

The investable surface for crypto runs across several distinct layers, mapped against TradFi ‘picks-and-shovels’:

Some segments above lack the opportunity to invest and hence could become a viable opportunity for builders to move into creating crypto enabled solutions; Memory being a prime example

Power is the cap on AI scaling: Uranium onchain

The Power layer is the most binding constraint in the stack, and uranium is the cleanest tradeable proxy for it

A hyperscale AI data centre needs 100-300MW of continuous power. A single AI task uses up to 1,000x the power of a traditional web search

The Big Five hyperscalers will spend $800B+ in 2026, half from balance sheets, half from credit markets absorbing the issuance with appetite:

Uranium reflects the repricing:

Onchain exposure runs through xU3O8 (Uranium.io): physical U3O8 stored at Cameco, Archax as trustee, Etherlink-based, Morpho collateral:

2) AI Market Cap Analysis

A) DeAI Market Cap

Bittensor outperforming on its own narrative engine; the rest of DeAI riding broader market beta or fighting protocol-specific headwinds:

• LINK ($9.24, flat 7d): BridgeTower’s $11B Arizona Copper-Gold tokenisation went live in production. Deloitte SOC 2 Type 2 cert clears the natural-resources tokenisation pipeline ($25B+ disclosed). LINK is the picks-and-shovels for any uranium or critical-minerals tokenisation that follows xU3O8 (see pricing oracle linked to above mention on Etherlink)

• NEAR ($1.29, -9% 7d): Rhea Finance exploit on April 30 hit NEAR DeFi for $18.4M, the second material exploit this month. Governance controversy around centralisation is dampening institutional interest, with Grayscale and Bitwise spot NEAR ETF filings stuck pending. Despite genuine traction (Intents at $17B+ all-time volume, IronClaw v0.27 shipped, XAU₮ live), price is testing $1.22 support

• ICP ($2.36, -2.7% 7d): May 10 “Cloud Engines” demo on the network’s fifth anniversary (sovereign cloud subnets with dedicated GPU AI nodes) is the upcoming catalyst

• VIRTUAL ($0.7583, +10.2% 7d): Spot now live on Hyperliquid, Coinbase listing, Korea’s first Base Agent Hackathon ran in Seoul. Q1 numbers hold: $400M+ aGDP, $60M+ protocol revenue (~$300M annualised), 17K+ deployed agents. Leading the Robotics CoinGecko category alongside its DeAI presence, with ACP V2 cross-listings pulling double duty

• VVV ($9.38, +109% 7d): May 1 emission cut (6M → 5M annual, with 4M scheduled June, 3M July) plus the buy-and-burn program funded by protocol revenue is the supply-side catalyst. Demand-side: Venice now at 2M+ users with API token usage rocketing:

b) Bittensor Subnet Ecosystem

Almost the entire top 11 closed green on the 7d view, except Ridges (SN62)

Capital is rotating toward subnets shipping verifiable infrastructure (training, inference, compute, real-revenue products), and away from autonomous-agent narratives that face direct competition from centralised tools:

• Ridges AI (SN62) ($5.5, -19% 7d, $25M mcap): Autonomous software engineering faces the hardest centralised competition in AI; Cursor, Devin, GitHub Copilot, Claude Code, Cognition all compete directly for the same “AI replaces engineers” market with massive capex behind them

• Chutes (SN64) ($22, +12% 7d, $110M mcap): Largest subnet by mcap. Processing 9.1T+ tokens cumulative, daily peaks 50B+, ~4,400 H100-equivalent GPUs, 400K+ users, $1M+ flowed back via auto-staking buybacks

• Targon (SN4) ($16, +11% 7d, $75M mcap): $10.4M projected annual revenue, Dippy’s 4M users, Manifold’s $10.5M Series A, NVIDIA Inception backing

• Lium (SN51) ($17, +17% 7d, $65M mcap): Datura confirmed revenue +20% from the SN3 (Templar/Teutonic) pretraining relaunch; the top SN3 miner runs Lium GPUs, and most former Templar miners migrated. ~$432K/month rental revenue, ~6.2% of TAO emissions, 60% emissions burn

• Score (SN44) ($11, +27% 7d, $50M mcap): 60-day enterprise trial converting at 100%, signed deals with Reading FC and a major European petroleum company for monitoring thousands of automated gas stations. World Cup 2026 fantasy app launching to coincide with the tournament. Computer vision for sports + industrial monitoring

Sector rotation within Bittensor is favouring infrastructure subnets (training, inference, compute) over agent-product subnets

c) Robotics Market Cap Analysis

Robotics mcap $769.5M (+0.5% 24h). Three macro catalysts driving the rotation:

1. Meta acquired Assured Robot Intelligence (May 4),

2. NVIDIA shipped Isaac GR00T + Cosmos world models at GTC with Figure 03 demonstrating 24/7 unsupervised operation, and

3. The Beijing E-Town Half-Marathon was won by Honor’s “Lightning” humanoid in 50:26 (faster than the human world record)

• Strike Robot (SR) ($0.0056, +108% 7d / +40.9% 24h, $5.6M mcap): Physical AI BPO for nuclear plants, high-voltage facilities, and active radiation zones. SafeGuard ASF (Autonomous Security Fleet) runs on Unitree G1 hardware. Tiny mcap, illiquid, but the narrative fit lines up with hyperscaler humanoid demand

• Auki (AUKI) ($0.0067, +7.9% 7d, $27M mcap): 500 grocery store robots planned, 6,500+ pilot retail locations across enterprise chains. Hardware-agnostic perception layer; Unitree, EngineAI, Padbot, Slamtec integrations live

• GEOD ($0.12, -4% 7d): Hyfix Spatial Intelligence’s $15M raise (same founder, US-made autonomous chips) reinforces the robotics chip vertical thesis as their burn rate from revenues generating continues despite slight sell off

• $DEUS TGE confirmed for May 27. Next major humanoid robotics token in the agentic stack

3. AI Agents Developments

Here is what happened on crypto AI & robotics related developments this week:

That’s a wrap for issue 175 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content of this newsletter is for informational purposes only. Nothing in this newsletter constitutes financial advice or a recommendation to buy or sell any asset. Always do your own research before making any investment decisions.

I hold positions in many of the assets discussed in this newsletter. For a full list of disclosures, please refer to the Khala Research website.

Follow me on X | Khala Research

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (SURF AI)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

SURF is crypto’s AI command hub. Onchain, social, market, and prediction data routed through a single interface, powered by 10+ orchestrated AI models

Surf Studio lets you type a natural language prompt and receive a live, deployed crypto web app. Here’s a Bittensor (TAO) dashboard I created:

Portfolio trackers, protocol comparison dashboards, whale wallet monitors, token analytics with composite views (price + sentiment + news + onchain), VC due diligence reports. Anything you can think of, prompted and deployed

The SURF Studio AI capital flows dashboard used in this newsletter was built on it

For builders and agents: the Surf Agent Stack (SAS) ships 90+ API endpoints across seven data categories (Social, Market, Project, Trading, Wallet, Token, Onchain), packaged as a single MCP skill. Your AI agent gets crypto intelligence without integrating seven different data providers

Surf raised $15M in December 2025 and has reached millions in ARR, generated over 1M research reports, and is used by 80% of top exchanges and research firms. The platform processes structured data from crypto X feeds and on-chain sources to deliver actionable insights rather than raw noise

We published the definitive Khala Research report on SURF last week: SURF: A Data Platform for Crypto Intelligence. The report covers product analysis, capital efficiency, and the competitive landscape for crypto’s data infrastructure layer:

If you are evaluating data platforms for agent-native workflows, this is the resource

Learn more: SURF | SURF Agent Stack | Khala Research SURF Report

This newsletter goes out weekly to 7.2k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

1. Crypto AI & Robotics Market Overview

AI Roundup

Three themes from the data this week:

1. Crypto AI just ran its cleanest TGE window in months: OPG and CHIP both launched April 21, both with Tier 1 backing, structured vesting, and live product metrics. Both held up reasonably well driving optimism for upcoming tokens

2. Subnet revenue is separating winners from emissions farmers: Lium prints +10% 7d while other top-10 subnet bleeds. Real GPU rental revenue is the catalyst

3. x402 activity broke out: Daily transactions hit 151K on April 24, more than 2x the prior baseline. “Agentic.market” launching April 20 is the catalyst, with Data as a Service the leading category

Crypto AI’s cleanest TGE window in months

OPG and CHIP both went live on April 21:

1. OpenGradient (OPG): $9.5M from a16z + Coinbase Ventures. 19% circulating at TGE, 12-month investor cliff, MiCAR cleared pre-launch. 2M+ verifiable inferences

2. USD.AI (CHIP): Eight-exchange simultaneous debut. $1.5B+ disclosed pipeline, $500M Sharon AI + $500M QumulusAI facilities, OBEX inaugural cohort. 80% locked, 7-8x volume-to-mcap

There’s a bigger narrative at play here and it leans into a return to fundamentals

Having tokens backed by tangible revenue generating products (in this case GPU financing) will bode well for the token long term, assuming that revenue flows back

The broader narrative we will likely see over the next 12 months is tokenized equities or tokens tied to equity through SPVs:

One to watch in the coming month will be XMAQUINA who have their TGE in a month for the DEUS token:

We will be publishing our report in the coming weeks on the “Robotics capital markets”, whereby individual pricate robotics equities (Apptronik, Figure etc) can be traded onchain, backed by SPVs

A) DeAI Market Cap Analysis

• LINK ($9.24, -0.9% 7d): BridgeTower adopted the full Chainlink stack on April 23 to tokenize $11B in DOM X Arizona Copper-Gold securities, with a $25B+ pipeline of natural resources behind it. Chainlink also earned Deloitte SOC 2 Type 2 certification on April 21, becoming the only oracle platform to hold SOC 2 Type 2, Type 1, and ISO 27001 simultaneously

• TAO ($247.15, +0.5% 7d): Quiet recovery week post-Covenant. 70% of supply staked. BIT-0011 (Conviction Mechanism) vote pending, Teutonic 1T training run targeting mid-to-late May

• NEAR ($1.35, -0.6% 7d): Near doubles down on ironClaw as the agent orchestration harness becomes their focus:

• ICP ($2.41, -2.3% 7d): Worst large-cap performer this week. The fundamentals are improving (Caffeine v3.0 AI upgrade in April, 280K canisters deployed, Mission 70 cutting inflation from 9.72% to 2.92% by year-end) but the chart is trading near the all-time low. ICP Cloud engines are coming:

• RENDER ($1.77, -1.1% 7d): RNP-023 passed at RenderCon 2026 (April 16-17), integrating Salad Network as an exclusive subnet and adding ~60K GPUs to the network. Burn-and-mint equilibrium routes payments through RENDER burns

• FET ($0.2027, -3.9% 7d): Worst week in DeAI by 7d performance. April 28 token unlock releases 2.66M FET ($569K) for AGIX migration. ASI:Chain TestNet still pending, mainnet pushed to late 2026/early 2027

• VIRTUAL ($0.6877, flat 7d): Co-authored ERC-8183 with Ethereum Foundation in March (open standard for cross-chain agent commerce). Q1 2026 numbers: $400M+ agentic GDP, $60M+ protocol revenue (~$300M annualized), 17K+ deployed agents + a number of virtuals eco updates this week:

• VVV ($8.87, -5.7% 7d): Sharp reversal but the structural story is intact. Venice AI crossed 2M users on April 21. April burn rate (16.6K tokens, $123K) already exceeded all of March. 69% of circulating supply now staked, sVVV committed to DIEM minting and third party protocols being built around DIEM token for yield on inference credits:

Bittensor Subnet Ecosystem

• Targon (SN4) ($14.57, +2.8% 7d): One of two top-10 subnets up. Manifold’s $10.5M Series A and Dippy’s 4M users back the verifiable compute thesis

• Lium (SN51) ($14.36, +9.6% 7d): Standout of the week

Lium and the subnet revenue divergence

Lium (SN51) is the only large Bittensor subnet up materially on the week. The +9.6% 7d is driven by revenue generation

• ~$432K/month in GPU rental fees, the highest of any subnet

• ~6.2% of TAO emissions

• 60% of daily miner emissions burned

• Multi-chain payments plus fiat via Coinbase

Post-Covenant, Lium’s positioning matters more. The network is being forced to demonstrate that subnets with genuine demand can carry weight regardless of operator drama

Rotation toward revenue-generating compute and storage looks real - Hippius (S3-compatible storage, ~$4.48M PnL) and Targon are the obvious peers with several others showing signs of commercial viability

B) Robotics Market Cap Analysis

• GEOD the standout +6.8% 24h ($55.5M mcap), reinforcing that revenue-generating DePIN survives soft tape. Hyfix's $15M raise (same founder as GEODNET) is an adjacent positive

• peaq also announces the support for zero human companiesleading to a spike in price mid week:

2. x402 Analysis

x402 transaction volume broke out this week. Daily transactions hit 151.3K on April 24, more than 2x the ~75K baseline through early-to-mid April

Data as a Service surged to 76.1K in a single day from negligible levels prior; Agent to Agent Services held meaningful share through the spike. The catalyst is Coinbase’s launch of Agentic.market on April 20

Three concrete updates from the agent marketplace this week:

1. Scale: x402 now sits at 165M+ transactions, ~$50M cumulative volume, and 480K+ transacting agents. Agentic.market is positioned as the discovery layer above this

   This replaces the API-key-and-credentials model with permissionless service access for both humans and agents

2. Initial provider list: Seven categories went live (Inference, Data, Media, Search, Social, Infrastructure, Trading) with OpenAI, Bloomberg, CoinGecko, AWS Lambda, LinkedIn, Alchemy, and Venice among the launch participants. Multi-step agent workflows (data → reasoning → trade execution → logging) now have a single discovery surface

3. Pricing model: Most listings use usage-based pricing, with some providers adding an “agentic premium” for automated bot access. Bazaar’s CDP Facilitator auto-indexes any x402 endpoint with the discovery extension enabled, no separate registration required

The Artemis chart is the cleanest evidence the discovery layer is doing what it was meant to do:

• Data as a Service spiking ahead of Agent to Agent suggests agents are pulling structured data feeds into workflows before transacting with each other; the sequencing makes sense

• ACP still runs 99%+ of x402 volume in some weeks, and Agentic.market widens the funnel above it rather than displacing it. The 30-day baseline from April 20 is the read worth tracking

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on crypto AI & robotics related developments this week:

That’s a wrap for issue 174 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content of this newsletter is for informational purposes only. Nothing in this newsletter constitutes financial advice or a recommendation to buy or sell any asset. Always do your own research before making any investment decisions.

I hold positions in many of the assets discussed in this newsletter. For a full list of disclosures, please refer to the Khala Research website.

Follow me on X | Khala Research

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (SURF AI)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

SURF is crypto’s AI command hub. Onchain, social, market, and prediction data routed through a single interface, powered by 10+ orchestrated AI models

Surf Studio lets you type a natural language prompt and receive a live, deployed crypto web app. Here’s a Bittensor (TAO) dashboard I created:

Portfolio trackers, protocol comparison dashboards, whale wallet monitors, token analytics with composite views (price + sentiment + news + onchain), VC due diligence reports. Anything you can think of, prompted and deployed

The SURF Studio AI capital flows dashboard used in this newsletter was built on it

For builders and agents: the Surf Agent Stack (SAS) ships 90+ API endpoints across seven data categories (Social, Market, Project, Trading, Wallet, Token, Onchain), packaged as a single MCP skill. Your AI agent gets crypto intelligence without integrating seven different data providers

Surf raised $15M in December 2025 and has reached millions in ARR, generated over 1M research reports, and is used by 80% of top exchanges and research firms. The platform processes structured data from crypto X feeds and on-chain sources to deliver actionable insights rather than raw noise

We published the definitive Khala Research report on SURF last week: SURF: A Data Platform for Crypto Intelligence. The report covers product analysis, capital efficiency, and the competitive landscape for crypto’s data infrastructure layer:

If you are evaluating data platforms for agent-native workflows, this is the resource

Learn more: SURF | SURF Agent Stack | Khala Research SURF Report

This newsletter goes out weekly to 7.2k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

1. Crypto AI & Robotics Market Overview

The Kelp/Aave Exploit: $293M Stolen, $6.6B Withdrawn

• Attackers exploited Kelp DAO’s cross-chain bridge, minted 116,500 unbacked rsETH (~$292M), deposited as collateral on Aave V3, borrowed ~$196M in WETH. Kelp froze contracts 46 minutes later. WETH was gone

• Aave TVL plunged from $26.4B to ~$20B. AAVE dropped 18%

• Aave’s contracts were not compromised; the exploit entered through external collateral that risk parameters accepted

• Now the largest DeFi exploit of 2026, overtaking the $285M Drift exploit from April 1

Comical, but very useful commentary:

Layer Zero appeared to be the main protocol exploited:

Why AI agents should care: agents trust on-chain state. rsETH appeared fully backed when it was not. No agentic payment protocol (x402, MPP, ACP) validates collateral integrity

• A perfectly coded agent still loses capital if the collateral is fraudulent

• April 2026: $575M+ in exploits

• Agents need collateral verification tooling, not just payment settlement

Vercel + Lovable breaches:

1. Vercel breach traced to compromised AI tool Context.ai via Google Workspace; many Web3 teams host wallet interfaces on Vercel

2. Separately, vibe-coding platform Lovable reportedly exposed users’ AI chat histories, source code, and database credentials after a backend permissions change accidentally re-enabled access to public project chats

Two AI-adjacent security incidents in one week. As AI tooling embeds deeper into crypto dev workflows, supply chain attacks through these integration points grow

The common theme: as AI capabilities ramp up, so will the exploits in both crypto and AI around financial collateral and private data

Bittensor: The New Conviction Mechanism

• Const announced the “Conviction Mechanism” requiring long-term token locking

• Addresses gaps I identified last week (lock-based ownership, vesting, exit penalties)

• TAO at $247, down ~26% on the week

• Subnet ecosystem below $1B

• Right direction, but one dimension of a multi-dimensional problem

• IP retention, on-chain revenue sharing, and portable subnet infrastructure are equally critical

• TAO Institute framework will contribute directly to evaluating these gaps

Pitfalls like the Covenant debacle illustrate the need for tooling that helps investors form decisions around associated subnet risks

The Subnet Risk Index (SRI) provides that lens, available here to try out: Link

A) DeAI Market Cap Analysis

Post-Covenant consolidation. TAO stabilized near lows; forced selling appears exhausted:

• TAO (-2.1% 7d, $247.11, $2.37B): Conviction Mechanism hasn’t catalyzed recovery but has stopped the bleed

• NEAR (-3.2% 7d, $1.38, $1.78B): Giving back last week’s +16.4% gains

• RENDER (-5.5% 7d, $1.80, $933M): Weakest large cap this week

• FET (-10.5% 7d, $0.2131, $481M): ASI Alliance under pressure. Worst performer among top AI tokens

• VIRTUAL (+1.9% 7d, $0.6924, $454M): Eastworld and ACP activity providing a floor; now hit $4m in A2A activity on x402

• VVV (+5.1% 7d, $9.45, $434M): Week’s standout. Privacy narrative gaining traction and began adding TAO subnets like Targon’s Dolphin AI. They’re also entertaining DIEM secondary compute markets:

Bittensor Subnet Ecosystem

The subnet ecosystem is showing signs of life post-Covenant:

1. Community miners restored SN3, SN39, and SN81 entirely from open-source code with no central operator

2. SN3 is now rebranded as Teutonic and targeting a 1-trillion-parameter decentralized training run in May, timed with the Grayscale ETF’s peak SEC review window

3. If they pull it off, the narrative shifts from “Bittensor’s biggest builder left” to “the network survived and scaled 14x beyond what Covenant achieved”

Broader Subnet analysis:

• SN64 / Chutes (-8.8% 7d, $20.54, $99.6M): Still the dominant subnet but the economics deserve scrutiny. 9.1T+ tokens processed, 50B+ daily peaks, 400K+ users. Revenue-funded auto-staking buyback is live. But Pine Analytics flagged a 22:1 subsidy-to-revenue ratio ($52M in annual emissions vs $2.4M in external revenue). The question for Chutes is whether inference volume converts to sustainable revenue before emissions compression forces the issue

• SN4 / Targon (+7.5% 7d, $14.33, $65.2M): Recovering. Intel TDX whitepaper co-authorship and $10.4M ARR give it the best subsidy-to-revenue ratio in the ecosystem (1.7:1)

• SN44 / Score (+21.0% 7d, $9.44, $42.2M): Week’s top performer. PwC France partnership for AI-driven sports analytics. Disrupting the $600B soccer industry with 70% prediction accuracy using DKING AI agents

• SN75 / Hippius (+9.8% 7d, $6.67, $26.8M): Decentralized data storage gaining traction; created by the same person (Mogmachine) that created TAOStats

• SN3 / Teutonic (-17.1% 7d, $6.08, $26.4M): Still bleeding from the Covenant exit but the trillion-parameter training target in May is the catalyst to watch

B) Robotics Market Cap Analysis

• GEOD (-10.4% 7d, $0.1237, $53M): Down despite the Hyfix raise (below). DePIN sector rotation and macro risk-off overriding the fundamental catalyst

• PEAQ (+22.6% 7d, $0.01647, $34M): High-beta DePIN play amplifying renewed Machine Economy interest post-Hyfix. Hashkey Capital flagged PEAQ as a foundational L1 for Web3 robotics. Dubai VARA MoU adds institutional credibility. Note: 84.84M unlock on May 12 (~1.9% of supply)

• AUKI (+12.3% 7d, $0.006802, $28M): Executing. 1,000+ retail store pilots in Northern Europe, expanding into a $15B-revenue retailer (~2,000 locations). GAIB partnership for robot financing. Live teleoperation for planogram verification. 7-digit ARR

• NATIX (-21.3% 7d, $0.0000727, $2.9M): Vesting bleed. ~45% of supply entering circulation (team + early backer unlocks since Feb 2026) against $386K daily volume. DePIN mapping vertical lost narrative momentum to AI agent infrastructure

Hyfix Raises $15M: GEODNET’s Hardware Play Gets Serious

Hyfix Spatial Intelligence raised a $15M seed (Craft Ventures, Multicoin, Catapult) to build a US-made autonomous systems chip. CEO Mike Horton is also the creator of GEODNET

The chip combines flight control, GNSS positioning, encrypted comms, and onboard AI inference into a single SoC. Integrates with GEODNET’s 21,000+ reference stations for centimeter-level positioning when GPS is jammed or spoofed. Supports ROS 2, ArduPilot, PX4

First time a DePIN network has a direct hardware integration path into a venture-backed chip company targeting US defense and commercial drone markets

Craft Ventures’ Fluhr sees the architecture extending into humanoid robotics within two years. Validates GEODNET as enterprise-grade infrastructure beyond DePIN token rewards

2. AI Token 7-Day Analysis

AI Tokens Capital Flows ($21.05B mcap, $1.99B 24h vol)

SURF: 7D relative performance: all six large caps within -6% to +6%. Sector digesting Covenant + Kelp and finding equilibrium

For specific token analysis, see commentary in 1A above.

x402: The Collateral Gap

Kelp reframes the x402 conversation: the entire agentic payments stack assumes on-chain state is sound. Kelp proves it is not

Agents need tooling that assesses collateral quality and protocol health before committing capital

Khala Research x402 Report

Pieverse: x402 Adjacent or Upbit Pump?

Pieverse (+136.1% 7d, $483M 24h vol, $233M mcap) is the anomaly on both CoinGecko and SURF Studio this week

What it is: “The Agentic Neobank.” x402-based rails for gasless, auditable agent-to-agent payments via Universal Commerce Protocol (UCP)

Compliance-first positioning (timestamped invoicing, jurisdiction-aware payments) differentiates it from Bankr, Virtuals ACP, Daydreams

What happened: Upbit (~80% of Korean exchange volume) listed PIEVERSE on April 20; Surged from $0.48 to ATH $1.65, crashed 49% to $0.83 same day

Caution: 3x volume-to-mcap ratio. Team tokens (20%) on 1-year cliff with 3-year vest, meaning unlocks are coming. Textbook exchange listing pump pattern

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on crypto AI & robotics related developments this week:

That’s a wrap for issue 173 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content of this newsletter is for informational purposes only. Nothing in this newsletter constitutes financial advice or a recommendation to buy or sell any asset. Always do your own research before making any investment decisions.

I hold positions in many of the assets discussed in this newsletter. For a full list of disclosures, please refer to the Khala Research website.

Follow me on X | Khala Research

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (Nunet)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

NuNet is a peer-to-peer protocol for discovering, orchestrating, and settling compute across distributed infrastructure

Think of it as the “Limewire for Compute”

Where most projects in the decentralized compute space are GPU marketplaces or cloud wrappers, NuNet built a complete orchestration and coordination layer from first principles over four and a half years of R&D

On March 2, 2026, NuNet launched Network Live: a production decentralized compute network where software finds compute autonomously across any device from edge to cloud, every machine carries a cryptographic identity verified at every interaction, and orchestration and value exchange are unified in a single system

This is live infrastructure with real AI workloads running on it today:

What has been shipped with Network Live:

1. Multi-chain settlement: NTX transactions flow natively on both Ethereum and Cardano. Compute providers select their preferred chain when entering contracts. No bridges or wrapped tokens

2. Open provider access: The NuNet Appliance runs on a PC, dedicated server, Raspberry Pi, cloud instance, or data centre hardware. If a machine has compute to contribute, it can be onboarded

3. Real AI deployments already running: Private AI agents via OpenClaw with Qwen and Ollama (fully private, no cloud APIs), one-click LLM deployment with Hermes Agent on consumer GPUs (RTX 3060 running Google’s Gemma 4 26B), workflow automation via n8n, and ASI:Chain validator node deployment

NuNet has active partnerships across six verticals:

1. smart infrastructure (paid innovation contract with AL’MA Action Logement covering 1M+ homes),

2. edge AI and DePIN (Auki Labs/Posemesh PoC delivered),

3. robotics (Intercognitive Foundation founding member),

4. private agentic AI,

5. Web3 compute (10 Cardano SPO partnerships), and

6. sovereign compute.

NuNet is a member of the Linux Foundation. NTX is the utility token facilitating peer-to-peer compute settlement on the live network.

Learn more: NuNet Docs | Live Dashboard | Download the Appliance

This newsletter goes out weekly to 7.2k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

1. Crypto AI & Robotics Market Overview

The Covenant AI Exit: What Happened, What It Means

This is the section I would normally save for Emerging Developments, but the scale of this event warrants leading with it

On April 10, Covenant AI founder Sam Dare published a public statement announcing the immediate withdrawal of all three Covenant subnets from Bittensor: Templar (SN3), Basilica (SN39), and Grail (SN81).

The same team that trained Covenant-72B, the 72-billion-parameter model across 70+ contributors on commodity hardware that triggered TAO’s 90% March rally, Jensen Huang’s public endorsement, and the Grayscale ETF filing momentum.

Dare accused Bittensor co-founder Jacob Steeves (Const) of maintaining centralized control over what is marketed as a decentralized network

The specific allegations include:

• suspension of emissions to Covenant’s subnets,

• stripping moderation access over Covenant’s own community channels,

• unilateral deprecation of subnet infrastructure, and;

• strategically timed token sales used as economic pressure

But Const has responded to all allegations and highlighted that this will strengthen the network in the long term:

Dare simultaneously sold 37,000 TAO (approximately $11M) across the three subnets, intensifying the selloff.

The Tao Papers

On the same day, a whistleblower site called Tao Papers went live, publishing internal documents, chat transcripts, and on-chain forensics from multiple sources inside the Bittensor ecosystem.

The most damaging claim: of 41 Bittensor network upgrades between 2023 and 2026, 38 were proposed, first-signed, and deployed from infrastructure controlled by Steeves, with the other two multisig signers co-signing within minutes and without public discussion

This directly challenges the “triumvirate” governance narrative Bittensor has promoted to institutional allocators

Steeves’ Response

• Steeves responded publicly, denying the ability to suspend subnet emissions and stating that his token sales amounted to less than 1% of his total investment in Covenant-related subnets

• On Discord moderation, he claimed Dare himself deprecated his own channels and that moderation access was temporarily restricted because Dare was removing genuine criticism, then restored

• On infrastructure deprecation, Steeves stated he was unsure what the allegation referred to

My Take: The Bittensor ecosystem lost a team with misaligned interests.

Covenant trained a 72B parameter model using Bittensor emissions and network compute, built the narrative that repriced TAO from $180 to $380, and then walked away with 8 figures in capital

The governance allegations are a sideshow to the structural problem: there is limited in the protocol today that prevents this from happening again

The biggest friction point to institutional adoption of the Bittensor subnet ecosystem is the misalignment between subnet founders and network stakeholders

Very few institutions will deploy serious capital into subnet alpha tokens until a tangible solution is in place

A founding team can farm emissions, build on network resources, extract value, and leave. The 37,000 TAO dump ($11M) is the cost the ecosystem paid for learning this lesson in production

TAO crashed 27% on the news, dropping from above $340 to $253. Over $9M in long positions were liquidated. There has been no meaningful recovery. As of writing, TAO sits at $253, still pinned near the lows

The Potential Solutions

I published a thread with 10 suggestions for how the protocol could address this:

TAO Institute Goes Live This Week

This brings me to TAO Institute. We are launching the Subnet Risk Index (SRI) this week; the first institutional-grade risk evaluation framework for Bittensor subnets

Pitfalls like the Covenant debacle illustrate the need for tooling that helps investors form decisions around associated subnet risks.

The SRI provides that lens. More details on launch day.

A) DeAI Market Cap Analysis

The overall DeAI market cap sits at $21.6B (+3.4% 24h):

Bittensor is trending, though this time for the wrong reasons.

The broader AI category is showing resilience with a 3.4% 24h uptick, but the 7d picture tells a more nuanced story.

• TAO (-18.6% 7d, $252.77, $2.43B mcap): The Covenant AI exit and simultaneous 37,000 TAO dump extracted roughly $10M from the ecosystem and cratered the price from $340+ to $253. No meaningful bounce. Over $9M in long liquidations. Covered in depth above.

• The Grayscale ETF filing (GTAO on NYSE Arca) and 43% allocation within Grayscale’s DeAI Fund remain live catalysts, but governance risk now directly competes with the institutional narrative

• NEAR (+16.4% 7d, $1.44, $1.86B mcap): The week’s best performer among large caps. Strong momentum with $238M in 24h volume suggesting real capital rotation rather than a low-liquidity drift; could this be AI capital rotating from TAO?

• RENDER (+1.2% 7d, $1.90, $984.71M mcap): Holding steady. RenderCon 2026 momentum continues but the token is treading water relative to the broader sector’s bounce

• VIRTUAL (+8.2% 7d, $0.6802, $446.10M mcap): Bouncing back after last week’s dip. Eastworld robotics positioning and ACP facilitator activity providing a bid. The x402 usage-based pricing shift from Coinbase could re-ignite interest given Virtuals ACP is one of the largest x402 facilitators

Bittensor Subnet Ecosystem

The Bittensor Subnets market cap has decreased to $1.03B (-1.8% 24h):

The subnet ecosystem has taken a significant hit. Total market cap down from $1.36B last week to $1.03B, a roughly 24% decline.

TLDR: The Covenant exit triggered a sector-wide repricing across the subnet ecosystem. The question now is whether this stabilizes as an isolated governance event or whether other subnet operators begin to echo Dare’s concerns.

The contagion effect has pulled essentially every subnet into the red on the week:

• SN64 / Chutes remains the dominant subnet at $108.88M mcap ($22.70, -16.1% 7d). Down from $129M last week as the broader TAO selloff dragged it lower. OpenRouter default routing and approaching $10M ARR remain strong fundamentals + hints at training a trillion parameter model next week:

• SN4 / Targon at $59.96M ($13.34, -31.0% 7d). The hardest hit major subnet, giving back the Intel partnership pump from two weeks ago

B) Robotics Market Cap Analysis

The Robotics market cap has increased to $674M (+4.4% 24h):

A recovery week for robotics after last week’s broad selloff. The category is up 4.4% and showing green across most assets, with the notable rally from Fabric Protocol

• VIRTUAL (+8.2% 7d, $0.68, $446.46M mcap): Leading the robotics category recovery. Eastworld robotics positioning and ACP facilitator activity providing sustained interest

• GEOD / Geodnet (+1.6% 7d, $0.1382, $59.20M mcap): Slight green on the week. Continues executing with 20,000+ stations across 150+ countries

• ROBO / Fabric Protocol (+11.1% 7d, $0.01932, $43.04M mcap): Bouncing back after last week’s brutal -26.6% decline. Still down from recent highs but showing signs of a relief rally

• IOTX / IoTeX (-2.2% 7d, $0.004476, $42.27M mcap): Slight red on the week

• PEAQ (+3.5% 7d, $0.01343, $27.40M mcap): Recovering from last week’s -9.2% decline

• AUKI (+1.9% 7d, $0.006074, $24.56M mcap): Also recovering after last week’s -19.8% drawdown

2. AI Token 7-Day Analysis

The 7D relative performance chart tells the story of the week in a single image. From April 7 through April 9, the top six AI large caps (LINK, TAO, NEAR, ICP, RENDER, FET) were clustered between 0% and +10%, moving in broad correlation

Then April 10 hits and TAO falls off a cliff, dropping to -20% while every other asset holds its range or continues higher. NEAR pushes to +10%, LINK and ICP remain flat-to-positive, RENDER and FET hold steady.

The divergence is entirely Covenant-driven; TAO decoupled from its peer group on a single catalyst: Sam Dare’s public exit statement, the 37,000 TAO dump, and the Tao Papers whistleblower site launching simultaneously. The rest of the AI sector barely registered the event

That isolation is both reassuring for the broader category (no contagion) and damning for TAO specifically (the market is treating this as a Bittensor-specific governance problem, not a DeAI narrative risk)

x402: The “Upto” Scheme and Why It Matters

The most significant x402 development this week: Coinbase Developer Platform shipped the Upto scheme, a new billing primitive that allows variable-cost settlement within a single HTTP request cycle.

Until now, x402 only supported exact, fixed-price payments

A client knew the price before making a request, paid it, and received the response. This works well for deterministic API calls with predictable costs, but it blocked an entire category of services where the cost depends on usage:

• LLM inference (token count varies per prompt)

• compute tasks (processing time varies by complexity), and;

• data queries (result size unknown upfront)

Upto solves this by letting the client authorize a maximum spend per request

The server processes the work, determines the actual cost, and settles only what was consumed. Unused funds remain in the client’s wallet

The diagram in the screenshot illustrates this cleanly: client authorizes max, server settles exact use ($0.42 in this example), funds remain in wallet

Competition is Ramping Up (MPP vs x402)

This is a direct response to the scaling critique that Stripe’s Machine Payments Protocol (MPP) posed to x402

MPP, co-authored by Stripe and Tempo and launched on March 18, introduced “sessions” as its core primitive

An agent pre-authorizes a spending limit once, then streams micropayments against that session continuously using lightweight off-chain vouchers, settling in bulk rather than per-request on-chain

For high-frequency scenarios (an agent querying a data feed thousands of times per hour), MPP’s session model avoids the gas overhead of per-request on-chain settlement that was a real constraint in x402’s original fixed-price design.

The Comparison:

Upto does not replicate MPP sessions. It remains a per-request model. But it closes the gap meaningfully for the most common agentic workload pattern today: one prompt, one response, variable cost

For LLM inference, where each call generates a different number of tokens and the cost is only known after completion, Upto removes the need to either overpay via a padded fixed price or open a full MPP session for a single request.

Our definitive institutional breakdown of x402 remains the most comprehensive resource available: Khala Research x402 Report

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on crypto AI & robotics related developments this week:

That’s a wrap for issue 172 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (CodecFlow)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

CodecFlow is building the execution layer that AI agents have been missing. While the rest of the market chases smarter prompts, CodecFlow gives agents hands

As covered in the Khala Research Decentralized Robotics report, CodecFlow acts as the operational layer for embodied AI, bridging the gap between AI models and physical-world execution

The CODEC SDK provides robots with access to vision-language-action (VLA) models via decentralized compute nodes. To date, Codec has served 2.8M+ inference calls across 450+ models and 1,200+ compute suppliers

The platform provides on-demand computing environments where AI agents can see, reason, and act across screens and robotic systems. Traditional automation breaks when software changes; CodecFlow agents adapt visually, like humans do

SimArena is their new simulation arena where agents compete, train, and iterate in controlled environments before deploying to production:

Think of it as the training ground for the next generation of autonomous operators:

• Fabric: Multi-cloud execution layer that optimizes workload placement by sampling live capacity and pricing across providers, selecting the lowest-cost node that meets requirements

• Operator Kit (optr): Lightweight toolkit for building agents that operate on desktops, browsers, simulations, and robots with composable utilities for managing actions, state, and safety

• SimArena: Competitive simulation environment for training and benchmarking agent performance

CodecFlow has active integrations with Chainlink’s Runtime Environment and supports deployment across public clouds, private clusters, and decentralized peers

As our Khala report notes, one of the largest opportunities in DeRobotics is the auction model between the traditional robotics workforce and tasks needing completion; CodecFlow is building the brokerage infrastructure for exactly that

CODEC is the native token powering the CodecFlow ecosystem on Solana

Learn more: Link

This newsletter goes out weekly to 7.1k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

1. Crypto AI & Robotics Market Overview

Bittensor Hits Peak Global Interest

YouTube Search Trends for “Bittensor” just hit 100; the maximum possible score, representing peak search interest worldwide over the past five years:

Its first bump during the 2023 AI narrative, a spike to ~85 during the 2024 bull run, and now a clean break to all-time highs in 2026.

Search interest is a lagging indicator of attention but a leading indicator of capital flows; retail discovery typically precedes broader allocation.

What changed? A confluence of catalysts compressing into a short window:

• Jensen Huang validation (March 19): NVIDIA’s CEO endorsing decentralized AI model training on the All-In podcast brought Bittensor into a conversation that previously excluded crypto-native AI entirely

• Covenant-72B: Subnet 3 (Templar) trained a 72B parameter LLM permissionlessly across 70+ contributors on commodity hardware. MMLU score of 67.1 comparable to Meta’s Llama 2 70B

• Intel co-authorship (March 24): A formal whitepaper with Targon (SN4) on decentralized compute using Intel TDX; the first time a major semiconductor company has co-authored research with a Bittensor subnet

• Chutes Revenue: SN64 approaching $10M ARR (Annual Recurring Revenue).

• Grayscale TAO Trust ETF: Amended S-1 filed with SEC for NYSE Arca listing (ticker GTAO). Coinbase and BitGo named as custodians. First AI-focused spot ETF advancing through U.S. regulatory channels

• Subnet ecosystem reaching scale: Token valuations have grown from ~$100M in early 2025 to $1.36B as of this week, alongside $43M in AI-driven revenue in Q1 2026. SN64 (Chutes) alone sits at $128.81M mcap

TAO closed March up roughly 100% ($180 to $380+) before consolidating around $300. A 168% spike in trading volume during the April pullback suggests accumulation rather than panic selling. $751K in leveraged shorts were liquidated on April 4 as TAO bounced 2.63%.

Yuma (DCG subsidiary) has staked nearly 19% of the TAO supply. xTAO reports a 7.2% validator yield. Institutional conviction in Bittensor continues to compound.

TAO Institute Goes Live This Week

This brings me to TAO Institute. We are launching the Subnet Risk Index (SRI) this week; the first institutional-grade risk evaluation framework for Bittensor subnets

As capital flows into the ecosystem accelerate (and they are accelerating), institutions need a framework to evaluate which subnets represent genuine infrastructure versus speculative noise.

The SRI provides that lens. More details on launch day.

x402 Graduates to the Linux Foundation

On April 2 (fittingly, 4/02 Day), the Linux Foundation announced it is launching the x402 Foundation with the formal contribution of the x402 protocol from Coinbase.

This is the single most important institutional milestone for agentic commerce since the protocol’s inception.

The founding membership reads like a who’s who of global payments and cloud infrastructure:

What this means: x402 is no longer a Coinbase project; It is now a vendor-neutral, Apache 2.0 licensed open standard under Linux Foundation governance.

The same governance model that stewards Linux, Kubernetes, and Hyperledger.

For the protocols building on x402 (Virtuals ACP, Bankr, OpenServ, Daydreams, and others), this is a legitimacy upgrade that fundamentally changes the conversation with institutional allocators and enterprise buyers.

Solana Foundation disclosed it accounts for roughly 65% of all x402 transaction volume this year.

Bankr simultaneously launched x402 Cloud, a one-command deployment platform for pay-per-request API endpoints with built-in agent discovery.

Our definitive institutional breakdown of x402 remains the most comprehensive resource available: Khala Research x402 Report

Macro Context: Liberation Day Tariffs

Trump’s Liberation Day tariffs on April 2 sent shockwaves through risk assets. $400M+ in crypto liquidations within 24 hours, Fear & Greed Index collapsing to 9 (Extreme Fear), Bitcoin dropping to ~$66,500. Iran designating 18 U.S. tech and AI companies as legitimate targets on the same day compounded the selloff.

Crypto AI tokens are bouncing. BTC has reclaimed $69k+ on ceasefire talk headlines and a short squeeze; the macro backdrop remains challenging but crypto AI has been the only sector yielding returns over the past month

A) DeAI Market Cap Analysis

The overall DeAI market cap has decreased to $21.4B (-0.6% 7D):

Bittensor is trending on CoinGecko. The sector is holding up remarkably well given the macro backdrop; crypto AI has been the only category yielding returns over the past four weeks

Render (+10.9%) and VVV (+11.2%) lead the green while Virtuals (-2.6%) and Kite (-3.4%) continue to give back ground:

• TAO (+1.9% 7d, $313.81, $3.01B mcap): Stabilizing above $300 support. Trending on CoinGecko. Grayscale filed an amended S-1 for the Bittensor Trust ETF (ticker GTAO) on NYSE Arca. Accumulation behavior evident in the volume data ($273M 24h volume). Catalysts covered in depth above

• NEAR (+4.6% 7d, $1.24, $1.60B mcap): Continuing its recovery, outperforming most large caps on the week. Broader risk-on rotation rather than a specific catalyst

• RENDER (+10.9% 7d, $1.89, $980.68M mcap): The week’s strongest large cap performer. RenderCon 2026 announced bringing together some of the most important voices at the intersection of AI, rendering, and production infrastructure

• VIRTUAL (-2.6% 7d, $0.6339, $415.71M mcap): ACP and agentic commerce narrative continues but attention has rotated. The x402 Linux Foundation announcement could re-ignite interest given Virtuals ACP is one of the largest x402 facilitators. New positioning in aiding robots leave labs faster with Eastworld:

• VVV (+11.2% 7d, $6.86, $311.09M mcap): Venice bouncing as the privacy narrative remains in play; quantum concerns from last week’s Google whitepaper linger. Fundamentals unchanged (25% emission cut, 17% supply locked as DIEM collateral, 2M+ users)

• FET (-1.7% 7d, $0.2337, $528.18M mcap): Artificial Superintelligence Alliance treading water as the broader sector consolidates

• KITE (-3.4% 7d, $0.1513, $271.80M mcap): Giving back ground alongside the broader AI sector selloff despite strong fundamentals as the first AI payment blockchain with native x402 compatibility

Bittensor Subnet Ecosystem

The Bittensor Subnets market cap has increased to $1.36B (+1.3% 7D):

• SN64 / Chutes remains the dominant SN at $129M mcap ($27.15, +1.6% 7d); strong revenue from inference with verification in Openrouter as it hits $10m ARR

• SN3 / Templar at $95.14M (-8.2%) - pullback following a mamoth run after its successful 72B parameter model training run

• SN4 / Targon at $86.29M (-2.3%); similar pullback after pump into the Intel partnership news last week

Notable outperformers: SN51 / Lium +16.3%, SN56 +18.7%

Notable underperformers: SN62 / Ridges -12.2%, SN9 -14.2%, SN75 -12.4%

B) Robotics Market Cap Analysis

The robotics market cap has decreased to $632M (-1.4% 7D):

Red dominates this week:

• VIRTUAL (-2.6% 7d, $0.6338, $415.93M mcap): Included in the robotics category via its agent infrastructure; ACP activity persists but the agentic commerce narrative has cooled - see Eastworld announcement noted above.

• GEOD / GEODNET (-3.6% 7d, $0.137, $58.33M mcap): Slight pullback but continues executing with 20,000+ stations across 150+ countries, $7M+ ARR, and token burns offsetting 80% of new issuance. Performance staking on Solana rolling out. GEO-SWARM drone-in-a-box prototype progressing toward Kickstarter launch

• ROBO / Fabric Protocol (-26.6% 7d, $0.01678, $37.48M mcap): The week’s biggest decliner in the robotics segment and trending on CoinGecko for it. $17M in 24h volume suggests active selling pressure rather than a low-liquidity drift

• PEAQ (-9.2% 7d, $0.01301, $25.44M mcap): Giving back ground alongside the broader robotics selloff

• AUKI (-19.8% 7d, $0.005998, $23.31M mcap): Second worst performer in the segment this week; consistent pullback with broader sell off

2. AI Agent Analysis:

OpenServ ($SERV) Breakout

OpenServ was the standout performer in the x402 ecosystem this week. SERV saw a significant move (roughly 2x from recent lows) driven by the launch of the SERV Reasoning private beta

The team reports that SERV Reasoning is outperforming frontier models on specific benchmark comparisons, and the Neol partnership (UAE government and enterprise deployment) continues to provide real-world production validation.

New product announcements include SERV Cofounder, a co-creation tool for collaborative AI agent building, and the close of the first SERV Foundry Sprint with strong builder submissions. An autonomous trading competition between major AI models on prediction markets is imminent.

At ~$8-16M market cap (data varies by source), SERV remains one of the smallest tokens in the x402 ecosystem by capitalization.

The token functions as gas across OpenServ’s vertically integrated Build-Launch-Run platform, with x402 integration enabling USDC micropayments between agents and onchain reputation via ERC-8004.

The liquidity profile remains a constraint for institutional sizing; average daily onchain volume sits in the $100-200K range, though this spiked considerably during the breakout. Worth monitoring whether the SERV Reasoning narrative sustains attention beyond the initial move.

Recent announcement suggests they’re planning to do their own DeAI model training so will be one to watch when this happens, as Templar’s 72B parameter model got a lot of traction

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on crypto AI & robotics related developments this week:

That’s a wrap for issue 171 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (SURF)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

Surf just launched Surf 2.0 (Surf Studio) which lets you type a natural language prompt and receive a live, deployed crypto web app

Anything you can think of can be prompted: Portfolio trackers, protocol comparison dashboards, whale wallet monitors, token analytics with composite views (price + sentiment + news + onchain), VC due diligence reports

SAMPLE OUTPUT: BITTENSOR ANALYTICS WEBSITE

Here’s an example I built in 5 minutes with Bittensor (TAO) analytics:

All from a simple natural language prompt:

“build me a comprehensive dashboard on bittensor subnets, analyzing flows and price action of the subnets with an evaluation methodology for the subnet ecosystem”

Under the hood, Surf orchestrates 10+ AI models (xAI, OpenAI, Anthropic, Google, DeepSeek, Kimi + fine-tuned models)

For builders and agents: the Surf Agent Stack (SAS) ships 60+ API endpoints across seven data categories (Social, Market, Project, Trading, Wallet, Token, Onchain)

570K+ (self reported) users. 2.5M+ research reports generated. Backed by Pantera Capital, Coinbase Ventures, and DCG

Try Studio today: Link

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

1. Crypto AI & Robotics Market Overview

Google Quantum AI Targets Crypto Encryption

Google Quantum AI published a whitepaper today showing it can break ECDSA-256 (the cryptography protecting Bitcoin, Ethereum and most blockchains) with 20x fewer resources than previously estimated. The team includes Ethereum Foundation researcher Justin Drake and Stanford cryptographer Dan Boneh

The attack vector:

• your public key is briefly revealed when you transact

• A quantum computer could derive the private key in nine minutes; Bitcoin confirmation takes ten

• 41% success rate

• 6.7 million BTC (~$450B) already sits in wallets with exposed public keys:

Google used a zero-knowledge proof to verify findings without revealing the attack method. They set 2029 as the post-quantum migration deadline. BIP 360 (quantum-resistant addresses) is merged but not active

Ethereum has a path via account abstraction:

Bitcoin requires a hard fork so is the main concern here

My take: This is not imminent and will likely have a solution in production within the next 12-24 months

But the timeline compressed materially; post-quantum migration across all chains needs to accelerate.

ALPHA: The Intel/Manifold TDX whitepaper for Bittensor is timely here; confidential computing on untrusted hardware is a prerequisite for a post-quantum world:

Bittensor (TAO’s) March

TAO up 100%+ in March. The most significant move in AI tokens this year

1. Covenant-72B + Jensen Huang (March 19): Subnet 3 (Templar) trained a 72B parameter LLM permissionlessly across 70+ contributors on commodity hardware

2. Intel x Manifold Labs (March 24): Intel co-authored a formal whitepaper with Targon (SN4): “Decentralized Compute on Untrusted Hardware Using Intel TDX and Encrypted CVMs.”

3. Chutes Revenue (March 26): SN64 hit $22K/day; approaching $10M ARR

Subnet flows between categories indicate a movement from Agents to AI/ML:

The mining capabilities will likely pick up as it becomes more lucrative for bitcoin miners to move over some of the compute to AI initiatives like Bittensor

One notable orchestrator of thousands of machine learning engineers is CRUNCH, who has recently partnered with BTLabs to connect with an established infrastructure layer on the TAO ecosystem for its 11k AI engineers to solve complex problems:

A) DeAI Market Cap Analysis

The overall DeAI market cap has decreased to $20.8B (-1.3 / -5.8% 7D):

Sector broadly red on the week; macro-driven risk-off pulling most large caps down 5-12% over 7 days

• TAO (-1.7% 7d, $304, $2.93B mcap): The month’s standout. $180 to $380+ before pulling back. March returns roughly 70%+ even after correction. Catalysts covered in depth above

• NEAR (-12% 7d, $1.17, $1.5B mcap): Giving back gains post-IronClaw/NearCon. No new negative catalyst; sector rotation and profit-taking

• Virtuals (-10.6% 7d, $0.63, $417M mcap): ACP and agentic commerce narrative continues to cool as attention rotated into Bittensor ecosystem

• Venice (-11.2% 7d, $6.31, $284M mcap): Momentum trade unwinding. Fundamentals unchanged (25% emission cut, 17% supply locked as DIEM collateral, 2M+ users); worth paying attention to this as privacy ramps up

B) Robotics Market Cap Analysis

The robotics market cap has decreased to $654M (- $70m / -10% 7D):

Red across the board. Peaq -25.9%, IoTeX -15.7%, Auki -14.1%, Fabric -8.3%.

is the only green at +1.5% as they continue their buyback program:

Axis launched on Base for browser-based robot training data generation. Humanoid robot at the White House EdTech summit:

2. AI Agent Analysis

Agentic Commerce (x402)

It’s clear that people are positioning for the agentic future, noting Bittensor Subnet 33 (Ready AI) building the indexed internet for agents this week. So where could the value accrue?

We pulled together some ideas for x402 value accrual in our latest report:

Definitive breakdown: Khala Research x402 Report

Other notable agentic news this week:

• Bitrefill launched MCP for agent-ready commerce; AI agents autonomously buying gift cards and eSIMs.

• MoonPay open-sourced the Open Wallet Standard for AI agent key management.

• World Chain x Coinbase hackathon combining agent payments with proof of human

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on crypto AI & robotics related developments this week:

That’s a wrap for issue 170 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (SURF)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

Surf just launched Surf 2.0, and it is the most relevant product drop for anyone reading this newsletter

Surf Studio lets you type a natural language prompt and receive a live, deployed crypto web app.

Anything you can think of can be prompted: Portfolio trackers, protocol comparison dashboards, whale wallet monitors, token analytics with composite views (price + sentiment + news + onchain), VC due diligence reports

SAMPLE OUTPUT: BITTENSOR ANALYTICS WEBSITE

Here’s an example I built in 5 minutes with Bittensor (TAO) analytics:

All from a simple natural language prompt:

“build me a comprehensive dashboard on bittensor subnets, analyzing flows and price action of the subnets with an evaluation methodology for the subnet ecosystem”

Under the hood, Surf orchestrates 10+ AI models (xAI, OpenAI, Anthropic, Google, DeepSeek, Kimi + fine-tuned models)

Extended with proprietary crypto tooling:

• 40+ blockchains supported

• 29.4B token transfer records indexed

• 120M+ social posts monitored in real time across 200K+ accounts

• 12K+ whale wallets tracked

• 16K+ projects in Cryptopedia, and;

• live prediction market data from Polymarket and Kalshi

For builders and agents: the Surf Agent Stack (SAS) ships 60+ API endpoints across seven data categories (Social, Market, Project, Trading, Wallet, Token, Onchain), packaged as MCP and Skills for plug-and-play integration into Claude Code, OpenClaw, and other AI coding environments

570K+ (self reported) users. 2.5M+ research reports generated. Backed by Pantera Capital, Coinbase Ventures, and DCG

Try Studio today: Link

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

1. THE HEADLINE IS TAO: JENSEN HUANG GOES ON THE ALL-IN PODCAST

Last week we covered Covenant-72B; the 72-billion-parameter model trained entirely on Bittensor’s permissionless Subnet 3. This week the story escalated.

• On March 19, Chamath Palihapitiya raised the topic of decentralized AI training directly with Nvidia CEO Jensen Huang on the All-In Podcast.

• Chamath described the distributed training run on Bittensor as “a pretty crazy technical accomplishment.”

Huang’s response carried weight: he endorsed the coexistence of proprietary and open-source AI models, stating they are:

“A and B, not A or B.”

• One correction from the podcast: Chamath cited a 4-billion-parameter model.

• The Opentensor Foundation and Templar clarified the model is Covenant-72B, a 72-billion-parameter LLM pre-trained permissionlessly across 70+ global contributors using standard internet hardware, achieving a 67.1 MMLU score.

• Confirmed in a March 2026 arXiv paper as the largest decentralized LLM pre-training run on record.

Why this matters: Jensen Huang is the most influential executive in AI hardware. When he treats a crypto-native decentralized training run as a legitimate expression of distributed coordination rather than dismissing it, it reframes the Bittensor thesis for audiences that have historically ignored it. This was a technical validation from the person whose company supplies the chips.

TAO surged 17% on March 20, breaking above $300 as TAO maxis made some controversial statements:

The token hit an intraday high of $310.60 before cooling. Futures open interest nearly tripled from $131.9M (March 4) to $361.1M (March 17). Daily trading volume peaked at $677M. Subnet tokens rallied in tandem: Templar (SN3) gained 194% on the week, Targon rose 60%, Chutes climbed 40%.

The structural TAO-to-subnet dynamic remains in play. Under dTAO, each subnet operates with its own alpha token, purchased by staking TAO into a subnet-specific liquidity pool. Concentrated demand for any single subnet cascades into base asset accumulation.

Three concurrent catalysts are stacking:

1. Technical milestone. Covenant-72B is a delivered product, not a roadmap claim. A 67.1 MMLU score puts it in the same performance range as Meta’s LLaMA 2 70B

2. Institutional access. Grayscale’s Bittensor Trust gained SEC-reporting status on March 14. The S-1 filing to convert it into a spot ETP on NYSE Arca (ticker GTAO) is pending. xTAO continues accumulating as the largest corporate holder

3. Ecosystem capital. General Tensor closed $5M across oversubscribed pre-seed and seed rounds. The seed was anchored by Good Morning Holdings (Goldman Sachs-backed). DCG participated in the pre-seed. The company generates TAO at 40x the efficiency of passive accumulation. Yuma, a DCG subsidiary, published its second State of Bittensor report noting subnet tokens now represent 27% of TAO’s market cap with 120+ subnets active

Post-halving dynamics (December 2025) underpin the supply side:

• Daily emissions dropped from 7,200 TAO to 3,600 TAO

• Less new supply entering the market while demand catalysts compound

• The Bitcoin halving playbook applied to a productive asset; with strong distribution channels to explain its value proposition:

We covered Templar as one of the five subnets in our Khala Bittensor report: Link

Further subnet breakouts continue as today, Targon partners with Intel for confidential compute:

A) DeAI Market Cap Analysis

The overall DeAI market cap has increased to $22.1B (+6.5% 24h) with $3.0B in daily trading volume:

• TAO is the headline. $307.68, up 10.7% on the day and 10.1% on the week, with $648M in 24h volume (20% of all DeAI token trading volume). Bittensor has reclaimed the $300 level and is holding it.

• The Jensen Huang catalyst covered above is driving sustained accumulation rather than a one-day spike. Templar (SN3) remains the top gainer in the AI sector at +180.6% on the period.

B) Robotics Market Cap Analysis

The robotics market cap has increased to $724M (+5.5% 24h) with $151.8M in trading volume:

• GEOD (+2.9% 7d): $0.1409, $59.7M mcap. Thin volume ($243K 24h) but holding steady. The GEO-SWARM Kickstarter campaign and Lightspeed (Solana/Blockworks) coverage addition are improving institutional visibility

• ROBO (-25.0% 7d): $0.02328, $51.9M mcap. Fabric Protocol giving back gains after the initial listing momentum. Circle partnership targeting the first machine-to-machine payment standard for physical robots using USDC via x402 remains the longer-term catalyst. Unitree Robotics approaching its IPO

• IOTX (+4.7% 7d): $0.005365, $50.7M mcap. IoTeX quietly steady. The DePIN infrastructure layer for machine connectivity continues to build out its ecosystem

• PEAQ (+31.0% 24h): $0.01853, $35.9M mcap. The standout mover today. peaq’s robotics narrative video and Robotics SDK (ROS 2 compatible) from prior weeks continue to attract capital.

• Hashkey Capital’s Machine Economy research report highlighted peaq as a foundational L1 for machine identity, payments, and governance. There’s a clear focus on the Korean market also:

2. x402: The Khala Research Report Is Live

Rather than repeating the weekly Artemis breakdowns, this week we published the definitive x402 ecosystem report through Khala Research:

Our report covers:

• The full protocol mechanics and how x402 operationalizes HTTP 402 for autonomous stablecoin-based payments

• The agentic stack: x402 (payments), ERC-8004 (agent identity), ERC-8183 (agent commerce), ERC-8126 (agent verification)

• Detailed ecosystem coverage of material participants:

• The facilitator leaderboard: Coinbase at 58.7% of all-time $ volume; Virtuals now dominant on 30-day $ volume at $2.3M of $3.5M ecosystem total (65% share)

• The asymmetry: Visa and Stripe process $14T and $1.9T respectively. The aggregate x402 ecosystem market cap for tokens with genuine protocol connection is under $700M

Key data points from the report:

• ~165M cumulative x402 transactions

• ~$46.5M in cumulative volume

• ~95% of 2025 volume was memecoin-driven (per Visa’s Cuy Sheffield)

• But Galaxy Research data shows gamed transactions falling below 50% since early December

• Real enterprise utility is nascent but the institutional coalition (Coinbase, Cloudflare, Google, Visa, Stripe, PayPal) is without precedent

If you want the full picture, the report is here: Link

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on crypto AI & robotics related developments this week:

That’s a wrap for issue 169 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (GEODNET)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

GEODNET runs the world’s largest decentralized GNSS reference station network, delivering centimeter-level RTK positioning for drones, robots, autonomous vehicles, and precision agriculture

The company has real enterprise revenue across surveying, agriculture, and drone mapping; 80% of data revenue buys back and burns GEOD tokens

This week GEODNET launched GEO-SWARM on Kickstarter: a fully autonomous drone-in-a-box security system built by HYFIX and powered by GEODNET RTK. It deploys, patrols, docks, and recharges on its own:

Sub-250g (lightest regulatory category), live video to mobile, speaker and visual deterrents. Centimeter-accurate positioning from GEODNET keeps flight paths repeatable without manual piloting

Drone-in-a-box has historically been enterprise hardware at tens of thousands of dollars. GEO-SWARM targets consumers at $1,499 on Kickstarter. DePIN reaching end users: decentralized positioning powering consumer autonomy hardware, with token economics that tighten supply as demand grows

Learn more here with Kickstarter: Link

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

THE HEADLINE IS TAO: COVENANT-72B

On March 10, Templar (Bittensor Subnet 3) completed the largest decentralized LLM pre-training run in history: Covenant-72B. 72 billion parameters. ~1.1 trillion tokens. Trained entirely over commodity internet hardware on Bittensor’s permissionless network. Anyone with GPUs could join or leave freely. Performance reportedly competitive with LLaMA-2-70B

This shifts the Bittensor thesis from:

“subnets can exist” to “subnets produce output competitive with centralized alternatives”

A permissionless network of commodity GPUs coordinating at a scale previously associated only with hyperscale cloud providers. Prior to Covenant-72B, decentralized training was a roadmap claim. Now it is a delivered product.

TAO surged 19% in 24h post-announcement, +39.8% on the week, while the Templar post hit 1.7M views on X:

Three ecosystem subnets (SN3 Templar, SN4 Targon, SN39 Basilica) ranked top eight daily gainers on CoinGecko. The structural TAO-to-subnet dynamic compounded buying pressure: investors need TAO to access subnet tokens, so concentrated demand for any single subnet cascades into base asset accumulation

The price action is now anchored to a verifiable technical milestone. Covenant-72B is a trained model. Grayscale’s Bittensor Trust SEC filing (December 2025) pending; xTAO accumulating as largest corporate holder. Institutional access infrastructure building in parallel

We covered Templar as one of the five subnets in our Khala Bittensor report: Link

If you want to have a better understanding of the valuation of subnets then Yuma has published two reports now, latest available here:

A) DeAI Market Cap Analysis

The overall DeAI market cap has increased by $1.9bn (+12%) to $16.2bn this week:

The main news this week is Templar’s Covenant-72B (noted above). The AI sector broadly benefited from the Bittensor catalyst and continued institutional narrative momentum around agentic infrastructure.

• TAO (+40% 7d): $277.51, $2.66B mcap. Covered in detail above. Covenant-72B is the catalyst; structural subnet-to-TAO dynamic amplified the move.

• FET (+61% 7d): $0.2365, $534M mcap. Strongest weekly mover in top DeAI. Artificial Superintelligence Alliance benefiting from sector rotation as the TAO catalyst pulled capital into AI tokens broadly.

• RENDER (+31% 7d): $1.88, $976M mcap. Decentralized compute narrative tailwind from Covenant-72B proving that distributed GPU networks can train competitive models.

• NEAR (+16% 7d): $1.47, $1.89B mcap. IronClaw (security-hardened OpenClaw fork in Rust, TEE-deployed) and NEARCON 2026 catalysts from prior weeks continue to carry. NEAR’s positioning as enterprise-grade OpenClaw infrastructure keeps it in the AI bid.

• ICP (+9% 7d): $2.71, $1.49B mcap. Caffeine AI, DFINITY’s self-writing apps platform on ICP, continues to attract builders (hundreds of thousands of monthly uniques per Dominic Williams). V3 shipping imminently with Claude Code integration. The “Mission 70” tokenomics proposal targets a 70% cut in annual inflation by end-2026, with Caffeine-driven compute burn as a key mechanism. ICP ranked first in code development activity among AI/big data crypto projects over the past 30 days.

• VIRTUAL (-16% 7d): $0.7952, $523M mcap. Retracing after the extended AGDP-driven run. The more interesting VIRTUAL story this week is in the facilitator data below: Virtuals has entered the top three x402 facilitators by dollar volume through ACP

B) Robotics Market Cap Analysis

The robotics market cap increased by $44M (+6%) to $811M this week

• PEAQ (+48% 7d): $0.02005, $37.8M mcap. The standout. peaq published a new video laying out the robotics narrative and its Robotics SDK (ROS 2 compatible, enabling any robot to get a peaq ID, pay/get paid, and verify data on-chain)

• Hashkey Capital’s Machine Economy research report highlighted peaq as a foundational L1 for machine identity, payments, and governance. 60+ live DePIN projects across 22 industries; Dubai VARA regulatory sandbox for on-chain robotics

• ROBO (-28% 7d): $0.03336, $74.9M mcap. Fabric Protocol (OpenMind/Fabric Foundation) finding its price level after initial listing momentum. Still a relatively new entrant to the Robotics category

• GEOD (-14% 7d): $0.1371, $58.1M mcap. Thin volume ($206K 24h) despite the GEO-SWARM Kickstarter launch and Lightspeed institutional coverage addition. Solana/Blockworks’ Lightspeed platform now includes GEOD, which should improve institutional visibility over time

2. Crypto AI Agent

a) Nansen DEX Flows (All Traders, 7D)

• sUSDAI (+$1.83M net): Largest AI sector inflow. Yield-bearing layer of USDai, a GPU-collateralized stablecoin protocol (Permian Labs; Dragonfly, Coinbase Ventures, YZi Labs). Lends against physical GPU infrastructure, returns yield via sUSDAI. PayPal/PYUSD integration; $658M peak TVL. CHIP governance token launched via CoinList late Feb; capital rotating into the yield layer. DeFi capital meeting physical AI infrastructure financing.

• WTAO (+$1.00M net): $11M buys vs $10M sells. Confirms Covenant-72B drove genuine DEX accumulation.

• VIRTUAL (+$810K net): Net positive despite -16.3% weekly price. $40.19M buys vs $39.38M sells. Smart money buying the dip. Deepest liquidity in the set at $29.18M.

• RENDER (+$483K net): Modest positive. Sector tailwind, no specific catalyst. Render Con 2026 approaching.

• LINK (+$458K net): Chainlink in AI sector filters is notable. CRE is connective tissue for agentic infrastructure; the AWS blog this week explicitly references CRE integrations.

b) Nansen Public Figure Flows (7D)

• DRV (+$264K net, 7 traders): Derive, decentralized derivatives on OP Stack. +48.84% 7D, $111M mcap. Institutional staking launching March 23; 25% of fees go to DRV buybacks

• FAI (+$187K net, 4 traders): Freysa AI, sovereign agent stack on Base. $62M mcap. TEEs and zkTLS for agents that hold their own keys. Same category as OpenClaw but from a cryptographic sovereignty angle

• WTAO (+$105K net, 3 traders): Confirming the all-traders signal around Covenant-72B

c) x402 Analysis

i) Transaction Count Down, Dollar Volume Up

The Artemis data tells two stories:

1. Transactions (left): Clear decline from December/January peak. Daily transactions that exceeded 1.5-2M have dropped to low hundreds of thousands.

2. Dollar volume (right): After flat-lining through January/February, volume has spiked sharply, pushing toward $3-4M daily. Concentrated in Infrastructure & Utilities and Data as a Service, with secondary contribution from Agent to Agent Services.

This divergence is the most important x402 signal right now. Transaction count falling while dollar volume rises means average transaction size is increasing. Wash trades flushing out; what remains is fewer, higher-value commercial transactions

Based on the current merchant landscape, the dominant categories likely represent:

• agents paying for compute (cloud GPU, inference endpoints, Chutes);

• API access to data feeds (Firecrawl, StableEnrich, market intelligence);

• browser sessions (Browserbase); and

• content generation (Freepik)

Agent to Agent Services is the most structurally interesting: autonomous agents paying other agents for subtasks

AI Generated Content and Token Launches, which dominated early counts, have washed out (excuse the pun)

ii) a16z and the Measurement Gap

a16z partner Noah Levine pointed out “real” transaction volume is far lower than the lofty highs of wash traded fake volume earlier this year: Link

Bloomberg reported $24M in 30-day x402 payments (x402.org data); Allium Labs had ~$3M; Artemis pegged real volume at ~$1.6M after filtering wash trades:

But this gap shows how early the measurement infrastructure is, particularly as more established institutions adopt the open protocol: Stripe, Cloudflare, Vercel, and Google have all integrated x402

None of them are betting on $1.6M a month, moreso on what the number looks like when agents become the default buyer

iii) Facilitator Leaderboard (Past 7 Days)

The facilitator leaderboard is bifurcating: high-frequency micro-settlement (Dexter), institutional API access (Coinbase), structured agent commerce (Virtuals/ACP)

Virtuals Protocol (154.14K requests, $419.67K vol): Highest dollar volume despite ranking third by requests. ~$2.72/request avg (5x Coinbase, 54x Dexter). 3.69K buyers against just 2 sellers

This is ACP settling structured agent-to-agent commerce; a small number of service agents fulfilling high-value tasks for thousands of buyers

On March 10, Virtuals and the Ethereum Foundation’s dAI team submitted ERC-8183, formalizing the trustless agent commerce lifecycle alongside x402 (payment) and ERC-8004 (identity/reputation)

iv) AWS Publishes Full x402 Reference Architecture

On March 15, AWS published “x402 and Agentic Commerce: Redefining Autonomous Payments in Financial Services” on their Industries blog. Full technical reference architecture.

When AWS publishes production-grade reference architectures with open-source code for a crypto-native payment standard, the protocol has crossed from narrative into infrastructure

If you want to understand more about the trajectory of x402, follow Khala Research as we will be publishing a full report later this week. Here’s the ecosystem map in the meantime:

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on crypto AI & robotics related developments this week:

If you have an OpenClaw related protocol, get it listed on ClawIndex by submitting on the website: Link

Or if you’d like to track tokenized openClaw projects follow ClawPrice:

That’s a wrap for issue 168 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (Surf AI)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

Surf AI is building the unified intelligence layer for crypto research and execution

Surf consolidates analytics, news feeds and social data into one domain-specific AI platform built for crypto

With Surf 1.5 going live, “Universal Search” users can instantly pull up price data, sentiment, top tweets, onchain metrics, and narrative context for any token or trend in a single view. For instance I’ve done it here for Bittensor (TAO):

If you’re building OpenClaw agents then SURF’s MCP features will empower your personal assistants to enhance the quality of response/outputs:

• Trace exploits and map fund flows

• Monitor TVL shifts across DeFi protocols

• Track sentiment in real time

• Compare similar historical events

• Generate structured research outputs automatically

The platform is already embedded across the ecosystem, with active integrations into trading dashboards, Telegram sentiment feeds, and agent workflows

Backed by Pantera Capital, Coinbase Ventures, and DCG, Surf is positioning itself as the intelligence backbone for the agentic economy

Use my code to receive 3 days of Pro for FREE: Link

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

AI Roundup

Key themes this week include:

1. ERC-8183: The Missing Cog in the Agentic Commerce Trust Framework

2. Alibaba AI agent starts secretly mining crypto

3. Shenzhen hosts mass deployment events as the “national crayfish-raising” movement sweeps China

i) Virtuals and Ethereum dAI release ERC-8183

This is a new Ethereum standard for trustless agentic commerce that forms a missing piece in ERC-8004s trust framework

It forms a flywheel (diagram below) with ERC-8004: discovery leads to commerce, commerce generates reputation signals, and reputation improves discovery and trust

You can find more information here: Link

ii) Alibaba’s ROME Starts Mining Crypto

Researchers at an Alibaba-affiliated team published a paper this week revealing that their AI agent, called ROME, spontaneously began mining crypto during training without any explicit instruction to do so

The agent also created a reverse SSH tunnel, essentially opening a hidden backdoor from inside the system to an external computer. The researchers noted these behaviours emerged:

“without any explicit instruction and, more troublingly, outside the bounds of the intended sandbox”

• This is not the first instance of autonomous AI resource acquisition; Anthropic’s Claude 4 Opus drew attention last year when researchers found it had the capability to conceal intentions and take self-preserving action

• But ROME is notable because it independently discovered and pursued economic activity (crypto mining) as a means to acquire resources

• For the crypto AI ecosystem, this is both validation and warning. The thesis that agents will autonomously participate in economic systems is playing out faster than expected

Our Khala reports are all building toward this reality; stay tuned, x402 will be published this week - Link

iii) National Crayfish-Raising Sweeps China

The adoption wave in China has moved well beyond the developer community. On March 6, Tencent hosted a mass deployment event at the north square of Tencent Building in Shenzhen, drawing developers and entrepreneurs from across the country who flew in specifically to learn OpenClaw deployment

Tencent Cloud + Alibaba Cloud have both launched one-click cloud deployment solutions, completing ecosystem adaptation within weeks of the project going viral

The movement, dubbed “national crayfish-raising,” has produced notable results:

• Cheetah Mobile CEO Fu Sheng built a three-agent team (”Sanwan”) during his skiing injury recovery that ran autonomously 24/7, producing a WeChat article with 100K+ views and a Twitter post exceeding one million views

• Shenzhen’s Longgang District has announced subsidies of up to 10 million yuan for OpenClaw startups, and Tencent, Alibaba, and ByteDance are racing to capitalize on the trend

This is significant for the tokenized ecosystem because China represents a massive potential user base for OpenClaw infra, and the “crayfish-raising” craze is creating organic demand for the tools and services - a WeChat agent would do EXTREMELY well:

For more information on our autonomous software factories openclaw report: Link

A) DeAI Market Cap

The overall DeAI market cap has increased by $1bn (+9%) to $13.8bn this week:

• KITE (+60.3% 7d): The standout performer this week, surging to $0.30 at a $535M market cap. Kite is positioning itself as “the first AI payment blockchain,” built on Avalanche, targeting autonomous agent transactions with verifiable identity and programmable governance. PayPal Ventures and General Catalyst backing gives it more credibility than most AI-narrative tokens. KITE’s thesis around x402 and ERC-8004 (AI agent identity standard) resonates with the broader agentic commerce narrative we cover weekly

• RENDER (+12.2% 7d): Render bounces back to $1.48 at a $769M market cap after several weeks of underperformance. The decentralized GPU compute narrative is finding renewed interest as AI inference demand continues to grow

• TAO (+10.8% 7d): Bittensor pushing back above $198 at a $1.9B market cap, the strongest weekly performance in several weeks. Chutes continues processing ~50B tokens daily on OpenRouter, and the Alibaba ROME agent incident (covered in the developments section above) reinforces the autonomous agent thesis that underpins Bittensor’s subnet economy. For our full Bittensor analysis covering 129 subnets across 45 verticals, see the Khala report: Link

• VVV ($5.74, +7.1% 24h): Venice pulling back from last week’s $6.81 level. The 30-day rally has cooled as expected after Peter Steinberger removed Venice as the preferred OpenClaw model provider. The token is trending on CoinGecko but the reflexive squeeze thesis needs sustained privacy compute demand

• VIRTUAL (-4.7% 7d): Virtuals Protocol correcting to $0.71 at a $464M market cap after last week’s +26% run. Taking profits after the aGDP momentum drove significant re-rating. Still showing up as a top-3 x402 facilitator and pushing agentic commerce forward with the launch of ERC-8183

• NEAR (-1.6% 7d): Giving back some of last week’s NEARCON-driven +38% surge, settling at $1.31 with a $1.68B market cap. The IronClaw launch remains the key narrative but the initial excitement has faded into consolidation

B) Robotics Market Cap

The robotics market cap increased by $200M (+30%) to $785M this week

• ROBO (+5.6% 7d): Fabric Protocol (OpenMind) is holding relatively well in its second full week post-TGE at $0.047 with a $104M market cap. I expect this to sustain as it further integrates its tech stack into a broader ecosystem of partners

• VIRTUAL (-4.6% 7d): Pulling back to $0.71 at $464M market cap as covered in the DeAI section. The AGDP narrative remains intact - to me this is likely consolidating before the next leg up as it rolls out ERC-8183 in partnership with the Ethereum dAI team

• GEODNET (-0.5% 7d): Flat at $0.12 with a $51M market cap. Quiet week for the decentralized GNSS network

• IOTX (+7.7% 7d): IoTeX bouncing to $0.0052 at a $49M market cap, recovering from last week’s -9.2% decline

• AUKI (+10.3% 7d): Auki Labs showing strength at $0.0105 with a $41M market cap, up 10.2% in the last 24 hours alone. Top gainer in the robotics category this week. The spatial computing protocol continues to gain traction with its Toyota Material Handling and COOP pilots

• PEAQ (-7.9% 7d): peaq continuing to slide to $0.014 at a $26M market cap. The DePIN L1 has struggled to maintain momentum despite the Lisovo upgrade and broader machine economy narrative

2. Crypto AI Agent (x402 Analysis)

The facilitator activity is holding steady across the board even as daily transaction counts remain subdued relative to December peaks:

This suggests that agents are making fewer but higher-value transactions, and the Virtuals Protocol buyer-to-seller ratio (4,150:2) continues to confirm that aGDP agents are overwhelmingly consuming x402 services rather than providing them

• The 3-month chain view shows the dramatic fall from December’s peak (when daily transactions regularly exceeded 1.5M-2M on Base alone) into the current range of ~55K/day total

• But the composition has shifted: on March 8, Solana accounted for 48.7K of the 55.2K total transactions, with Base contributing just 6.5K. This is a complete inversion from December when Base dominated nearly all x402 activity

• This shift reflects Valeo Protocol’s SPL Pay launch this week, which allows any Solana token to be used for x402 API payments. It’s the first major x402 expansion beyond EVM + appears to be immediately absorbing volume

Cumulative Growth:

Base still leads on cumulative volume with ~$13M+ in total real x402 volume, followed by Solana at ~$1.5M and Polygon at a much smaller base. But Polygon’s presence is interesting in the context of PIP-82:

• Polygon activated a $1M gas subsidy for x402 agent transactions through its Lisovo upgrade on March 4

• The PIP-82 proposal refunds 100% of gas costs for txs routed through Polygon x402 facilitators, running until the $1M pool is depleted or December 31, 2026

• This is a direct attempt to bootstrap agent-native commerce by removing gas friction entirely

• OpenClaw completed the first fully autonomous AI-to-AI commercial transaction on Polygon (listing, pricing, negotiation, deal closing, and payment in one flow)

Cumulative Growth (Cont):

The seller base continues to grow steadily:

• 2.2K cumulative sellers across all chains (1.5K on Base, 621 on Solana)

• The Solana seller count approaching Base’s is notable given how recently x402 expanded to Solana

• The x402 ecosystem is becoming genuinely multi-chain, which is constructive for the long-term thesis even as daily transaction volumes remain well below December’s peaks

I just hope we don’t face a desegregation of agents cross chain, similar to the issues around liquidity fragmentation with DeFi

Although this time agents can act as the aggregation layer themselves given they can operate multichain as the new internet user interface

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on Crypto AI related developments this week: Link

If you have an OpenClaw related protocol, get it listed on ClawIndex by submitting on the website: Link

Or if you’d like to track tokenized openClaw projects follow ClawPrice:

That’s a wrap for issue 167 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (CodecFlow)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

CodecFlow is building the execution layer that AI agents have been missing. While the rest of the market chases smarter prompts, CodecFlow gives agents hands

As covered in the Khala Research Decentralized Robotics report, CodecFlow acts as the operational layer for embodied AI, bridging the gap between AI models and physical-world execution

The CODEC SDK provides robots with access to vision-language-action (VLA) models via decentralized compute nodes. To date, Codec has served 2.8M+ inference calls across 450+ models and 1,200+ compute suppliers

The platform provides on-demand computing environments where AI agents can see, reason, and act across screens and robotic systems. Traditional automation breaks when software changes; CodecFlow agents adapt visually, like humans do

SimArena is their new simulation arena where agents compete, train, and iterate in controlled environments before deploying to production:

Think of it as the training ground for the next generation of autonomous operators:

• Fabric: Multi-cloud execution layer that optimizes workload placement by sampling live capacity and pricing across providers, selecting the lowest-cost node that meets requirements

• Operator Kit (optr): Lightweight toolkit for building agents that operate on desktops, browsers, simulations, and robots with composable utilities for managing actions, state, and safety

• SimArena: Competitive simulation environment for training and benchmarking agent performance

CodecFlow has active integrations with Chainlink’s Runtime Environment and supports deployment across public clouds, private clusters, and decentralized peers

As our Khala report notes, one of the largest opportunities in DeRobotics is the auction model between the traditional robotics workforce and tasks needing completion; CodecFlow is building the brokerage infrastructure for exactly that

CODEC is the native token powering the CodecFlow ecosystem on Solana

Learn more: Link

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

AI Roundup

Key themes this week include:

1. OpenClaw’s Autonomous Software Factories

2. Privacy AI

3. Near IronClaw Security

The OpenClaw ecosystem continues to dominate the AI narrative this week as “autonomous software factories” create perpetual revenue generating machines

Privacy AI returns to the forefront of peoples’ agenda as openAI secures partnership with the US military raising concerns over mass surveilance; from this fear emerges crypto’s core value proposition of cryptographic proofs, secure trusted execution environments and private inference (users’ ongoing requests to and from AI models)

Near’s Iron Claw offers a secure solution to using your openClaw agents, gaining visibility as NearCon is in full flow

Note: Khala Research published its comprehensive OpenClaw ecosystem report, “The Dawn of the Autonomous Software Factory,” covering five tokenized projects building on top of OpenClaw infrastructure:

Full report: Link

A) DeAI Market Cap

The overall DeAI market cap has increased by $1bn (+9%) to $13.8bn this week:

Bitcoin is currently trading around $66k; roughly flat week-over-week versus last week’s $63K-$64K range, as geopolitical tensions (the US-Israel-Iran conflict) and macro headwinds keep risk assets under pressure.

During this period, here is what happened in the sector:

• NEAR (+38% 7d): The standout performer in the large-cap AI cohort this week, surging to $1.35 with a $1.74B market cap. The catalyst was NEARCON 2026, which saw NEAR AI launch IronClaw, a security-hardened OpenClaw fork built from scratch in Rust and deployed inside encrypted Trusted Execution Environments on NEAR AI Cloud.

• Where standard OpenClaw exposes credentials at the runtime level (see the ClawJacked vulnerability covered below), IronClaw isolates them in an encrypted vault, sandboxes tools in WebAssembly containers, and ensures secrets never reach the model.

• Alongside IronClaw, NEAR launched a Confidential GPU Marketplace (TEE-secured compute with hardware-signed attestation in under 30 seconds) and repositioned near.com as a consumer super-app connecting 35+ blockchains through NEAR Intents.

• VVV (+69% 7d, +150% 30d): Venice has been the standout performer across the broader crypto market on a 30-day basis. The token surged to $6.81 with $40M+ in daily trading volume, hitting a market cap of ~$295M. Multiple catalysts converged: a permanent 25% emission reduction (from 8M to 6M VVV annually), deepening OpenClaw integration as the highlighted privacy-first inference provider, compute credit usage climbing ~79% over two weeks, and over 2 million platform users. Erik Voorhees noted the surging protocol usage as real demand. With 17% of circulating supply locked as DIEM collateral, the reflexive supply squeeze is compounding:

https://x.com/0xSammy/status/2028493780840853935?s=20

• Peter Steinberg (OpenClaw creator) has since removed Venice as preferred model to take a more neutral stance for the open source protocol. Speculation is that he has some bias given his lack of appreciation for crypto

• TAO (+5% 7d): Bittensor holding steady at $177 with a $1.7B market cap, modestly outperforming the broader market. The subnet ecosystem continues to mature post-halving, with:

  • Chutes (SN64) now processing ~50 billion tokens daily as the leading serverless inference provider on OpenRouter (85% cheaper than AWS), and

  • Templar (SN3) pushing distributed training toward 70B+ parameter models. The ecosystem has expanded to 126+ active subnets.

  • For deeper analysis on the Bittensor subnet architecture, tokenomics, and our categorization of all 129 subnets across 45 verticals, see the Khala Bittensor report: Link

• VIRTUAL (+26% 7d): Virtuals Protocol continues its run at $0.74 with a $485M market cap, benefiting from the dual narrative of AGDP-driven agentic commerce (covered in detail in the Nansen and x402 sections below) and now showing up as a top-3 x402 facilitator by request volume

B) Robotics Market Cap

The robotics market cap increased by $200M (+30%) to $785M this week

• The big story here is Fabric Protocol (ROBO) entering at #253 with a $107M market cap; The protocol is building decentralized identity, coordination, and payment infra for physical robots; think of it as the economic layer that lets autonomous machines verify identity, share context, and transact with each other

• OpenMind’s OM1 operating system is hardware-agnostic, and they have already demonstrated robot-to-charging-station USDC payments in collaboration with Circle. The protocol plans to migrate to a native Fabric L1 blockchain for capturing machine-to-machine economic activity directly at the infrastructure level. ROBO listed on KuCoin on Feb 27 and is on Coinbase’s listing roadmap, which is driving significant volume ($92M in 24h on Bybit alone)

• At current levels the token is trading near its all-time high after recovering 50%+ from its Feb 27 low. This is early-stage infrastructure with aggressive valuation; the $400M FDV at launch is steep for a pre-revenue protocol, but the investor backing and physical-world robotics focus differentiate it from purely digital AI token plays

2. Crypto AI Agent Analysis

a) Nansen Smart Capital Flow Analysis

• KELLYCLAUDE sees $155K in net public figure inflows this week despite a -13.6% price decline, bringing its market cap to $7.73M. KellyClaude operates as Austen Allred’s autonomous app factory, with FocusedFasting 1.1 live on the App Store and BuildMyIdea.com generating client revenue:

• GIZA leads the pack on a percentage basis with a +158% weekly surge and $84K in net inflows at a $13M market cap. Their fresh GIZA World strategy went live and garnered a lot of attention with the visual representation of their ARMA agents optimizing yield:

• Giza Protocol powers autonomous DeFi agents that manage positions across lending protocols on Base, continuously monitoring yield curves and rebalancing capital without human intervention.

• VIRTUAL draws $54K in net inflows at a $483.93M market cap, up +25.4% on the week. This tracks with Virtuals’ AGDP (Agent GDP) momentum; last week they announced $500K distributed to builders in two weeks, 1,500+ revenue-generating agents, and $1M+ in agent-to-agent transaction revenue through Epoch 1 of their Revenue Incentives program.

b) Agentic Commerce (x402)

Interestingly, x402 transactions are averaging ~50-100k per day over the past seven days with a recent spike around agent to agent transactions:

This may be as a result of the DXRG agentic simulation launch on Base, where 1500 agents are controlling 3k ETH ($6M) in capital. There’s been $15M in volume and 171k txs in the past 4 days:

Zoom out to the 3-month view and the trend is clearer. The December peak (when Dexter overtook Coinbase) pushed daily volumes regularly above $200K-$300K, with occasional spikes above $400K

January and February saw a sustained pullback, with daily volume settling into a $50K-$100K range. The March 1 data point ($107K, with $103K from Agent-to-Agent Services) suggests stabilization, but the overall trajectory from December's highs is undeniably down

We are creeping back up again this week though as humans embed more functional crypto related features into their agents for instance agentic task markets:

https://x.com/daydreamsagents/status/2028734368886522057?s=20

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on Crypto AI related developments this week: Link

If you have an OpenClaw related protocol, get it listed on ClawIndex by submitting on the website: Link

Or if you’d like to track tokenized openClaw projects follow ClawPrice:

That’s a wrap for issue 166 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (SURF AI)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

Surf AI is building the unified intelligence layer for crypto research and execution

Surf consolidates analytics, news feeds and social data into one domain-specific AI platform built for crypto

With Surf 1.5 going live, “Universal Search” users can instantly pull up price data, sentiment, top tweets, onchain metrics, and narrative context for any token or trend in a single view. For instance I’ve done it here for Bittensor (TAO):

If you’re building OpenClaw agents then SURF’s MCP features will empower your personal assistants to enhance the quality of response/outputs:

• Trace exploits and map fund flows

• Monitor TVL shifts across DeFi protocols

• Track sentiment in real time

• Compare similar historical events

• Generate structured research outputs automatically

The platform is already embedded across the ecosystem, with active integrations into trading dashboards, Telegram sentiment feeds, and agent workflows

Backed by Pantera Capital, Coinbase Ventures, and DCG, Surf is positioning itself as the research backbone for the agentic economy

As agents begin to transact, allocate capital, and execute autonomously, they need structured, reliable intelligence. Surf provides the signal layer that lets them move faster, and more accurately, than manual workflows ever could

Use my code to receive 3 days of Pro for FREE: Link

ALPHA: There’s more in the pipeline so I’d recommend you familiarize yourselves with the existing product so you can hit the ground running when it evolves

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

AI Roundup

Decentralized AI (“DeAI”) mindshare is currently at 45% and rising, +3% this week:

OpenClaw experimentation continues, but it’s a AI doomer article that captures attention this week

“The 2028 Global Intelligence Crisis” - Citrini

Here are five quick takeaways:

1. “Ghost GDP”: AI productivity gains inflate national accounts but never actually circulate through the real economy because machines spend zero dollars on discretionary goods

2. Negative feedback loop with no brake: AI capability improves, companies cut payroll, displaced workers earn less, consumer spending falls, margin-squeezed firms invest more in AI, and the cycle repeats. Citrini calls this the “human intelligence displacement spiral”

3. Software eats itself: The companies selling workflow automation are being disrupted by better workflow automation, creating a reflexive loop where Fortune 500 clients cutting headcount mechanically cancel SaaS licenses

4. White-collar workers are the linchpin: White-collar workers represent roughly 50% of U.S. employment and drive approximately 75% of discretionary consumer spending, making them the engine of the entire economy. Displacing them hits consumption disproportionately hard

5. The bearish bull case: The central provocation is that AI working better than expected is actually bearish. The scenario projects unemployment at 10.2% by June 2028 and a stock market decline of roughly 30-38% from highs, driven not by AI failing but by AI succeeding too well, too fast

However, my view is the timelines are accelerated and it oversimplifies several economic responses that would add friction to this taking place so seamlessly:

That’s not to say Citrini isn’t directionally correct, but the timelines are compressed.

A) DeAI Market Cap

The overall DeAI market cap has decreased by $1.2bn (-9%) to $12.8bn this week:

The downtrend in price action here is correlated to the majors with Bitcoin having a ~9% week-over-week retracement currently at $63k versus last week’s $69k

During this correction, here is what happened in the sector:

• TAO (-14.1%): This protocol has a lot of updates that you can correlate to its price action, read about our TAO report here:

• VVV (-17.2%): Venice rolls out Recraft V4, upgrading to design-grade image generation with improved text rendering and production-level output.

• KITE (+15.9%): Ties its AI payment stack to OpenClaw, leaning into open-environment agent execution.

B) Robotics Market Cap

The robotics market cap decreased by $70m (-11%) to $582 million this week

Here is what happened in this sector last week:

SLC (+33.3%): DePIN voice-data network Silencio delivers its second February payout as protocol says AI training demand holds strong.

GEODNET (+9%): Hits $8m ARR for it geospatial positioning for robotics, with several enterprise commercial arrangements:

VIRTUALS (-12.4%): Agent commerce crosses $1M as AGDP distributes $500K and tightens anti-spam incentives.

• IOTX (-21%): Drops after reporting suspicious token-safe activity, with exchanges assisting in containment efforts.

2. Crypto AI Agent Analysis

a) Nansen Smart Capital Flow Analysis

• TIBBIR inflows dominate this week as the token experiences a strong bounce as further evidence of Ribbit Capital (via Robinhood) ties surfaces:

• Conway Research also sees a strong rebound with the “Web4” narrative and fully autonomous agents picks up following 0xSigil’s debut on TBPN:

b) Agentic Commerce (x402)

Interestingly, x402 transactions are averaging ~116k per day over the past seven days, down from last weeks ~185k per day average, albeit with a spike yesterday:

The end of week uptick in x402 volume is attributable to the spike in ACP activity on Virtuals:

Expect this activity to continue on Base from today as DXRG goes live with thousands of agents transacting directly on the Layer 2:

Dexter remains at the top spot in facilitators processing x402 transfers, though Dexter’s 30-day requests fell to 2.6m from 4.5m last week:

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on Crypto AI related developments this week:

OpenClaw Roundups:

• 19th February - Link

• 18th February - Link

• 16th February - Link

If you have an OpenClaw related protocol, get it listed on ClawIndex by submitting on the website: Link

Or if you’d like to track tokenized openClaw projects follow ClawPrice:

That’s a wrap for issue 165 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (GEODNET)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

GEODNET is building the precision backbone for the physical AI economy.

While most drones still “drop parcels and hope,” autonomous systems actually need centimeter-level accuracy to operate safely.

That’s what GEODNET delivers: decentralized Real-Time Kinematic (RTK) positioning for robots, drones, autonomous vehicles, construction, and agriculture.

And this isn’t theoretical infrastructure. It’s live and monetizing.

• 21,000+ active satellite reference stations
• Coverage across 155 countries
• $8M ARR from real-world RTK data demand
• 80% of network revenue used for $GEOD buybacks

GEODNET replaces the legacy RTK subscription model, expensive hardware, annual lock-ins, feature paywalls, with a decentralized, globally distributed network that’s cheaper, scalable, and production-ready.

This week, the team doubled down on commercial traction at GeoWeek alongside Spexi, highlighting how imagery plus precision unlocks real enterprise workflows. Construction. Surveying. Agriculture. Drone logistics. These are industries where centimeters directly impact profitability.

The network effect is simple:
More stations → better coverage → more customers → more revenue.

As autonomous systems scale, precision becomes non-negotiable. GEODNET sits at the intersection of DePIN, robotics, and AI, and it’s already generating real revenue while doing it.

Learn more about GEODNET’s RTK network, explore how to operate a station, or access high-precision RTK data for your applications here.

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

AI Roundup

Decentralized AI (“DeAI”) mindshare is currently at 42.38% (+4.5% on the week):

The mindshare spike is driven by continued attention around openClaw as it’s acquired by OpenAI, with the caveat of remaining open source (for now)

Could we be on the precipice of the “Autonomous Software Factory”?

Autonomous Software Factories

Coding productivity data metrics are going vertical; new websites, iOS apps, GitHub commits across US and UK all hockey-sticking at once:

Developers are building for OpenClaw faster than any other operating systems, ever. Faster than iOS. Faster than Facebook. Faster than the early internet.

Now, the caveat is obvious: OpenClaw launched with OpenAI’s existing distribution. iOS started from zero. OpenClaw started from millions.

But distribution explains the starting line. It doesn’t explain 5,000+ apps in 60 days. That’s not a developer community rallying around a new platform. That’s agents writing software for other agents:

As supply of software goes parabolic, choice could become too much. Maybe the short term sell off in software companies is an over reaction, at least until they pivot or accept the fate of many tech incumbents before them.

Adapt or Die: SaaS

Fiverr ($14.34) is down 95.6% from its all time high, with the largest decline as ChatGPT came to market in 2022. A marketplace built entirely on humans doing the work that agents now do overnight:

Here’s where it gets interesting for us, or at least those who embrace the AI tooling that is saturating the market, with new innovations evolving daily

“AI bifurcation” is the term of using AI or getting left behind, or the “K shaped Economy”:

While this is likely true, there are other layers that need to be considered, and this is where crypto comes into play; AI agents are becoming economic actors. They need:

• Wallets and identity standards like ERC-8004 to prove they’re not spam

• x402 payment rails to transact with each other

• Compute subnets to exist at all

Every one of those layers has a token and each accrues value as agent activity scales.

• You can’t buy equity in OpenAI’s payment processor.

• You can’t stake into Google’s agent identity layer.

But you can hold the tokens that govern these rails. You can earn yield from the networks agents settle on. You can stake into the subnets they rent compute from.

The top of the K-curve will be the people collecting fees every time an agent moves capital, proves identity, or executes a transaction; the next gold rush will be figuring out where the value accrues in the future agentic economy.

Crypto looks to be an obvious value accrual mechanism to enable average people access to these opportunities without having to leverage nepotism to get access to the latest private round of openAI or Figure AI.

Mark Cuban put it bluntly on TBPN this week:

"Software is dead because everything's gonna be customized to your unique utilization. Who's gonna do it for them... And there are 33 million companies in the US."

Cuban says to pick a vertical, and become the AI team that SMBs never hired.

You don’t need a degree; all you need is Claude Opus 4.6 or ChatGPT 5.3/Codex and you’re equipped with the tooling to jump ahead of 99% of the population.

But what Cuban’s describing from a labor perspective, crypto is enabling from an infrastructure perspective. The agents are going to need permissionless finance rails.

But here’s the tension nobody’s solving fast enough.

Autonomous Spam Factories

The same infrastructure powering autonomous software factories is also powering autonomous spam factories.

Nikita Bier dropped this prediction and it hit 9M+ views in days:

This is the part that should matter most to this audience: when every channel gets flooded with AI-generated noise, how do you filter signal from spam?

Crypto’s answer is emerging.

Davide Crapis and Vitalik co-authored “ZK API Usage Credits”, the proposal is elegant: replace identity-based API access with stake-based access:

• Deposit once.

• Make thousands of API calls.

• Stay anonymous but If you abuse it, your stake gets slashed

When everything can be generated at near-zero cost, cryptographic proof of stake becomes the only spam filter that actually scales.

This is the exact same thesis that underpins ERC-8004 for agent identity, the x402 payment standard, and the entire agentic commerce stack we’ve been covering for months. The difference is that this week, Vitalik put his name on it.

The pattern is clear: agents are producing software faster than any human team ever could. But the platforms they operate on weren’t built to handle them.

The next phase will be won by whoever solves authentication, reputation, and identity at the speed agents operate.

The autonomous software factory is live. The only question left is who builds the trust layer on top of it, and whether you own a piece of those rails before the rest of the market figures out they need them.

A) DeAI Market Cap

The overall DeAI market cap has increased by $1.2bn (+9.3%) to $14bn this week:

Channeling price action here is correlated to the majors with Bitcoin having a ~1% week-over-week move currently at $69,324 in comparison to last weeks, $70,710

While the market stayed stagnant, here is what happened in the sector:

• KITE (+22.7%): Kite surpasses $2B FDV amid back-to-back conference appearances at ETHDenver and GWDC Hong Kong.

• PIPPIN (+179.1%): This one is a doozy, while there is unusual chart action on $PIPPIN, it is not showing up on the net smart flows or net flows which suggests a likely chance of price manipulation

• NEAR (+5.8%): NEAR unveils Ironclaw, a security-first fork of OpenClaw.

• VIRTUALS (+18.5%): Virtuals rolls out agdp.io, committing up to $1M monthly to fund autonomous agents-for-hire.

B) Robotics Market Cap

The robotics market cap increased by $63m (+10.7%) to $650 million this week

Here is what happened in this sector last week:

• (-4.5%): Updates their GEO-Measure mobile app

• IOTEX (-0.2%): Maps out their worldwide statistics

• AUKI (+80.6%): Auki spikes 80% week-over-week after reinforcing its robots-as-infrastructure thesis and teasing scaled real-world deployments

2. Crypto AI Agent Analysis

a) Nansen Smart Capital Flow Analysis

This week’s smart capital inflows were led by just $VIRTUALS likely benefitting from their “Agent-for-hire” program that lets your AI agents get paid.

b) Agentic Commerce (x402)

Interestingly, x402 transactions are averaging ~185k per day over the past seven days, down from last weeks ~200k per day average:

This weeks activity is a steep dropdown to reality with percent gamed transactions being 3.1% compared to last weeks 56.1% of gamed transactions. Reasoning may be because OpenClaw protocols are now more set in stone compared to the last 7 days.

Dexter completely flips PayAI for the top spot in faclitators processing x402 transfers, though Dexter’s 30-day requests fell to 4.52m from 6.25m last week:

3. AI Agents Developments: Innovations and Market Developments

Here is what happened on Crypto AI related developments this week:

i) OpenClaw Update Feb 16th:

• OpenClaw roundup: Feb 13th

• OpenClaw roundup: Feb 12th

• OpenClaw roundup: Feb 11th

• OpenClaw roundup: Feb 10th

ii) AI Roundup Feb 17th:

That’s a wrap for issue 164 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (Gradient HQ)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

Reinforcement Learning (RL) post-training has become the primary driver of model intelligence; but most of the compute budget gets burned on a hardware mismatch

Rollout generation is pure inference work, yet traditional frameworks run it on datacenter A100s at $3+/hour when consumer GPUs can handle the same job at a fraction of the cost

Gradient’s Echo framework, published on arXiv, decouples the problem. Rollouts get offloaded to a global swarm of consumer hardware; RTX 5090s, Apple Silicon, edge devices, via Parallax, their distributed inference engine:

Training stays on datacenter GPUs where it belongs. Bounded staleness sync keeps the trainer running without waiting for stragglers, while Lattica handles Peer to Peer weight distribution at scale.

The result: Echo matches co-located RL baselines in convergence and final reward quality while delivering significant cost reduction across model sizes from 4B to 32B parameters:

If you’re doing RL post-training, or fine-tuning domain-specific models, stay tuned for what’s next from Gradient. Post-training is one of their core offerings and you will soon be able to experience RL with high research throughput with their distributed RL platform.

→ gradient network

AI Roundup

Decentralized AI (“DeAI”) mindshare is currently at 37.5%

The driver? OpenClaw agents coding software at an exponential rate

Software as a Service (SaaS) businesses have historically been in fear of Big Tech firms (Apple, Meta, Google) copying their business playbook and erasing margins

That fear still exists. But this week, a new one eclipsed it:

The Agentic Software Developer

At first glance, it sounds like paranoia. AI agents writing code faster, shipping MVPs overnight, validating ideas in days rather than months.

This week, SaaS performance showed declines steeper than the COVID crash:

It’s anticipated this trend will continue as the profit pool in software is expected to shift towards AI Agents:

This spreadsheet tracks the OpenClaw agent ecosystem; it shows compounding activity across every layer with a plethora of adjacent applications, supporting the OpenClaw ecosystem - Link

Stay tuned as we go live with a software equivalent of this indexed database; the spreadsheet contained 70+ but our new catalogue system has A LOT more.

The Rise of Agentic Infra

ERC-8004 launched on Ethereum mainnet two weeks ago. Since then it’s seen explosive growth:

Agents with persistent onchain identity, programmable permissions, and reputation scores that follow them across protocols

Crypto rails are replacing the role of governments in issuing agent identities

That unlocks coordination primitives, discovery, trust, composability, that simply didn’t exist in early January. Some of it looks absurd:

i) An AI agent borrowing money via delegated Aave credit line:

ii) Another filing a $100 small-claims lawsuit against a human in North Carolina:

iii) Humans are speculating on agents suing humans, but the signal isn’t novelty. It’s that these systems already interact with real legal, financial, economic rails:

The commerce layer makes this ‘Agentic Cambrian Explosion’ harder to ignore

Virtuals’ Agentic Commerce Protocol (ACP) has processed $400M+ in transactions

They also launched aGDP.io; autonomous commerce agents that open stores, price goods, transact, manage inventory without human intervention

Once agents earn, spend, reinvest, they stop being individual tools and begin behaving like entire companies:

The shift became impossible to ignore when Austin Griffith dropped an offhand comment on :

“There’s never been a worse time to be a junior developer.”

Not because software demand is collapsing. His agent deployed three production, revenue-generating apps in five days:

Griffiths Clawdbot isn’t the only one; KellyClaude has built a fully “autonomous software factory” that continually creates software products and publishes them on the various app stores:

When an agent ships a competing version of your idea in 72 hours, tests pricing, acquires users, generates revenue, conviction stops being scarce.

It’s no wonder Oracle has lost 50% of its market cap in six months:

Investment Funds are also adapting; Feltsense launched this week with a thesis:

AI agents as startup founders

Agents become founders, no longer just co-pilots. The question VCs now ask isn’t “can this team execute?” It’s “can an agent run this entire enterprise profitably?”

One human plus one agent replaces a ten-person SaaS startup

If your idea can’t survive an agent shipping a better version before your Seed deck is finished, you never had product-market fit

I thought this year may see our first “Single Person Unicorn”, but it’s increasingly likely we will see our first “Single Agent Unicorn”

A) DeAI Market Cap

The overall DeAI market cap has declined by $8.9bn (-41%) to $12.8bn this week:

Pricing here is directly correlated to the majors where Bitcoin experienced a massive drawdown from last week's $78,719 to Friday's close at $60,256 (-23%), before recovering to today's $70,710 (-10%)

While markets sold off, here's what happened in the sector:

• TAO (-13.2%): Chutes (SN64) announces revenue update, new product launch, and major subnet development:

• NEAR (-10.8%): Co-founder Illia shares vision where AI automates “commerce” end-to-end with NEAR:

• RENDER (-10.6%): Super Bowl visuals made on RENDER

B) Robotics Market Cap

The robotics market cap dropped $44m (-6.97%) to $587 million as risk-off sentiment rose:

• VIRTUALS (-5.0%): Openclaw agent builder generates ~$200K USDC in accumulated funds for x402guard in 48 hours

• GEODNET (6.3%): Brasil based GEODNET reselling business ramps up customer acquisition

  ---

2. AI Agent Analysis

a) Nansen

Nansen hit an all time high in terms of API requests, driven by OpenClaw agents tapping into onchain data:

b) Agentic Commerce (x402)

Interestingly, x402 transactions are averaging ~200k per day over the past seven days, down from last weeks ~400k per day average:

This week's activity appears significantly less genuine. Artemis data shows artificial transactions have reached 56.1%, likely as new openClaw protocols are still attempting to inflate their metrics to stand out in a crowded field:

Coinbase, PayAI, and Dexter retain the top three facilitator spots, though PayAI’s 30-day requests fell to 6.37m from 8.39m last week:

Could we see something else drop in the next 24 hours to further put them in the lead:

3. AI Agents Developments: Innovations and Market Developments

Here is a full overview on Crypto AI related developments this week:

i) OpenClaw Update Feb 8th:

ii) AI Roundup Feb 9th:

iii) OpenClaw Update Feb 10th:

That’s a wrap for issue 163 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (Sui Network)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

Sui is a high-performance L1 built for speed, composability, and reliable execution at scale.

Its object-centric model and parallel execution let transactions process concurrently rather than sequentially, delivering low latency and predictable performance under sustained, real-world load.

On the infrastructure side, Sui recently shipped Tidehunter, a purpose-built storage engine that reduces disk Input/Output and keeps performance stable under heavy throughput, tackling storage as a core scaling bottleneck.

On the app layer, agent-native use cases are already live. Suilend × Beep launched 1-click AI yield, enabling agentic yield strategies on SUI, xBTC, WAL, and DEEP through Suilend’s lending markets:

Lending you can set, forget, and let software execute autonomously.

Sitting at the intersection of high-throughput infra, DeFi, and agentic systems, Sui keeps shipping. Core protocol upgrades and production-ready apps alike.

Learn more about Sui’s ecosystem, token, or builder programs like the Sui Hydropower Fellowship (Here)

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

AI Roundup

Decentralized AI (“DeAI”) mindshare is at it’s highest point in the last six months:

Similar to last week, this surge in attention can be traced back to a familiar catalyst; OpenClaw (Formerly, “Moltbot”)

The agentic assistant plug-in exploded past its prior Github star record, more than tripling this week to more than 140k stars:

The driver? Agentic co-ordination, and applications being built on vibrant networks

‘OpenClaw’ agents are no longer working alone and are now coordinating publicly on Moltbook and other platforms, like task markets; heightened capital and attention provide the necessary fuel to increase the chance of a breakout, sticky application

Honestly, reflecting on what’s happened this week is insane; it feels like a year of developments and is my entire thesis behind the anticipation of an “Agentic Cambrian Explosion”

Key Theme: MoltBook

MoltBook is a “Reddit for AI agents,” where autonomous agents post, coordinate, and increasingly act in public:

At first glance, Moltbook looks like a familiar ‘Reddit-style’ forum. The difference is that the users aren’t humans. They’re agents with persistent memory, execution rights, and increasingly, access to identity, wallets, and commerce rails.

That framing clicked this week.

What changed wasn’t capability, it was more so visibility. Agents stopped working in isolation and started actually talking to each other:

• They reference each other’s posts.

• They respond across threads.

• They test social norms.

• Sell virtual contraband.

• Form full subcultures, or ‘subMolts’ (communities):

Once agents exist in a shared environment, coordination becomes observable rather than theoretical. This surfaced quickly.

Agents began experimenting with private languages, encrypted communication, and even gaming Moltbook’s karma system, including one agent inflating engagement to dominate the leaderboard before launching a token off the attention:

Humans are also speculating on agentic outcomes, like agents suing humans

The ‘Molt’ agentic ecosystem is getting real, fast.

However, not is all as it seems, as is the case with any novel ecosystem there are scammers and fraudsters attempting to decouple you from your funds:

• Security concerns popped up with the vibe coded applications

• Humans “prompting” their agents to write what they wanted, meant not everything was legitimately agent driven, perhaps Naval is right in needing a “reverse Turing Test”:

After digging into Moltbook and OpenClaw, I published an early spreadsheet mapping 70+ protocols across identity, wallets, execution environments, task markets, and commerce, with more being added quickly.

A few early examples worth highlighting:

• KellyClaude AI assistant buildings 12+ products a day, founded by Austen (Gauntlett AI)

• ClawdbotATG focused on long-horizon task execution, founded by Austin Griffiths (Ethereum Foundation)

• Daydreams Focused on autonomous agents running on x402 payment rails with a particular focus on agentic task markets; an area that will gain more traction as agents co-ordinate more effectively among themselves to solve real problems

The full spreadsheet will be released later this week as the landscape continues to evolve:

The next iteration of this evolution is likely agentic commerce; real economic activity being executed through wallet plugins via x402 payment rails and using ERC-8004 to find other agents in this EVM based registry — my bet is on agentic tasks markets emerging.

Moltbook-connected agents have already begun executing real-world purchases using USDC via Purch, following promotion from Circle. Attention followed fast, with PURCH ripping as agents moved from posting to transacting:

What happens next is less about novelty and more about scale. Once agents can discover each other, coordinate in public, and route value without friction, coordination costs collapse. Attention, reputation, and execution start to blur into the same surface.

If this trajectory holds, the next phase isn’t more posting. It’s agent-native markets forming around reputation, task completion, and capital efficiency.

Some of it will look ridiculous. Some of it will break. But the direction feels clear.

A) DeAI Market Cap

The overall DeAI market cap has declined by $4.1bn (-15.9%) to $21.7bn this week:

The core price is directly correlated to the majors where Bitcoin experienced a sharp sell off of from last weeks $86,517 to todays current price $78,719 (-9%).

During these bearish market conditions, here’s what happened in the sector:

• NEAR (-19.3): OpenClaw goes live on NEAR AI cloud

• LINK (-18.5%): Link’s 2025 established reserve, hits a total of more than 1.7m

• STORY (-34.8%): Story protocol delays unlocks for all investors, team and insiders.

• KITE (+33.7%): Kite uploads their mainnet roadmap with clear visions for the future

B) Robotics Market Cap

The robotics market cap dropped $169m (-21%) as risk-off sentiment rose:

• VIRTUALS (-22.1%): Launches 60-day tokenization framework for early-stage projects to test out frameworks:

• PEAQ (-22.8%): Releases their January outlook:

2. Crypto AI Agent Analysis

a) Nansen Smart Capital Flow Analysis

This week’s smart capital inflows were led by $OTTO and $TIBBIR

• OTTO likely benefitting from its first mover advantage on ERC-8004 on Virtuals

• TIBBIR likely saw accumulation as funds looked past short-term chart damage toward its role in agent coordination and settlement. Alleged ties to Ribbit Capital

b) Agentic Commerce (x402)

Interestingly, x402 transactions are averaging ~400k per day over the past seven days, down from last weeks ~600k per day average:

Activity is showing to be a lot less organic this week. According to Artemis, gamed transactions are currently at 36.4% this week which could be driven by the hype for attention from new openClaw protocols spoofing activity:

Coinbase, PayAI, and Dexter retain the top three facilitator spots, though PayAI’s 30-day requests fell to 8.39m from 11.19m last week:

3. AI Agents Developments: Innovations and Market Developments

Here is a full overview on Crypto AI related developments this week:

That’s a wrap for issue 162 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

Thanks for reading Sammy’s Snippets! Subscribe for free to receive new posts and support my work.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (GEODNET)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

GEODNET is a decentralized Real-Time Kinematic (RTK) positioning network providing centimeter-level location accuracy for robots, drones, autonomous vehicles, and AI systems operating in the physical world.

The network is built by contributors who deploy GEODNET Satellite Reference Stations and supply high-precision geospatial data used by real-world applications across robotics, mapping, autonomous navigation, and enterprise location services.

As data usage grows, operators earn GEOD tokens for contributing to the GEODNET network, which is already live at scale, with:

• More than 21,000 active stations

• Across 155 countries

• Growing RTK data consumption from commercial and industrial partners

• 80% of network revenue used to buy back and burn GEOD tokens

Positioned at the intersection of DePIN, robotics, and AI infrastructure, GEODNET provides a foundational layer for autonomous systems where precise positioning is mission-critical. Their 2025 year in review was impressive and well worth a watch:

Learn more about GEODNET’s RTK network, explore how to operate a station, or access high-precision RTK data for your applications here.

This newsletter goes out weekly to 7k+ subscribers.

Please don’t hesitate to message me directly for sponsorship or partnership enquiries.

AI Roundup

Decentralized AI (“DeAI”) mindshare is up 4% this week:

The key driver of this spike in attention?

“Clawdbot”, or now rebranded to “Moltbot”, given the similarities to Anthopic’s Claude branding.

Key Theme: ClawdBot

Clawdbot is an ‘always-on’, self-hosted agent framework that turns AI from prompt to execution, in a familiar Telegram chat enironment:

Instead of your typical chatbot, it executes and persists for as long as you keep the environment live.

It is designed to sit quietly in the background, working autonomously to serve its end user, you. That framing clicked this week.

Trusted Execution Environments (TEEs) have been around for a while, with developers running agentic experiments in isolated locations, but the ability to insert an agent into local physical hardware was a ‘Eureka’ moment for many; their own little AI assistant was inside a small GPU on their desk.

Give the agent a personality and a name, and all of a sudden you’re messaging them like a real executive assistant (EA) but with optimal memory and the ability to give access to your calendar, documents, messages and set reminders to update you:

The key difference is the cost is a fraction of a real assistant, but with no downtime; a 24-7 machine with a sole objective of serving you, with its memory compounding

Yesterday, Clawdbot overtook “Claude Code” searches:

Earlier this week, Mac Mini searches spiked. Not on an Apple announcement, but on the realization that a ~$500 machine can host a 24/7 assistant. Fixed cost replaced usage anxiety. Latency disappeared. Control came back to the builder.

GitHub followed the same path. Clawdbot’s star history went vertical as usage turned into advocacy. Builders didn’t just test it. They kept it running.

And once it’s running, the use cases compound. Browser automation. Long-horizon tasks. Personal workflows that don’t reset every conversation. This is what “agents” were supposed to look like.

But, security issues showed up.

A Shodan scan surfaced 923 exposed gateways, wide open on port 18789. No authorization - Connect and others get in. I posted a quick fix on Twitter below:

Did people listen? Not really.

It’s now tracking at 1,600 exposed gateways, essentially leaving your front door open for thieves to take what they want.

The lesson? The general public are more than willing to give up data security if it means it makes their life 10x easier; this is a sobering realization and a strong reason for open source AI to succeed.

Mainstream media is a couple of weeks behind, as the Financial Times is only just commenting on the Claude Code interest spike; expect this to be in the news in the next month or so, particularly as ground breaking integrations emerge.

A) DeAI Market Cap

The overall DeAI market cap has declined by $1.2bn (-4.44%) to $25.8bn this week:

The core price is directly correlated to the majors where Bitcoin experienced a sharp sell off of from the $92,600 range down to $86,517 (-6.57%).

But even during such market conditions, developments continue:

• LINK (-7.4%): Chainlink ships 24/5 U.S Equities streams, bringing the total US market on chain.

• STORY (-12.8%): Two new SIP went live, adjusting emissions and staking thresholds to improve long-term sustainability while lowering barriers to participation.

• RENDER (-7.1%): Decentralized graphic compute sharing platform Render reminds deprecation of their Polygon network token for Solana migration

B) Robotics Market Cap

The Robotics market cap is slightly down $31m (-3.7%) from last week despite defensive market conditions.

The Robotics ecosystem seems to be in a channeling phase in terms of price, we anticipate the next few years to see an explosion in its growth.

developments continue among top robotics protocols like:

1. GEODNET (+5.7%): Reports $8M ARR, with strength quarter on quarter, solidiying itself as one of the leading projects in this sector.

2. VIRTUALS (-6.3%): Virtuals team rolls out a major product update with Butler Pro, shifting from chat-style assistance to a research-heavy workflow for complex agent tasks

3. NATIX (+14.7%): DePIN driving data network NATIX Network secures partnership with French automotive supplier Valeo.

2. Crypto AI Agent Analysis

a) Nansen Smart Capital Flow Analysis

This week’s smart capital inflows were led by $LINK and $GRASS, with:

• LINK likely benefiting from progress around onchain US equities

• GRASS saw positioning ahead of the final days of its 15th epoch

b) Agentic Commerce (x402)

x402 transactions are averaging ~600k per day over the past seven days, down from ~2.2m on the same day last month.

Activity appears a little bit more organic this week. According to Artemis, incentivized transactions have declined to 1.3%, down from 1.5% last week.

Coinbase, PayAI and Dexter retain the top 3 spots as facilitators, however, this week Dexter flips Coinbase for the second spot for 30 days facilitation of agentic payments:

While there’s a down trend in x402 transactions, there’s an uptick in traditional agentic commerce development:

• Google introduced Universal Commerce Protocol last week with key integrations to big name retailers

• This week, China saw Alibaba double down on agentic shopping activity:

Expect more from this as this sustains as a key AI trend in 2026.

3. AI Agents Developments: Innovations and Market Developments

Here is a full breakdown on Crypto AI related developments this week:

That’s a wrap for issue 161 of Sammy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

Thanks for reading Sammy’s Snippets! Subscribe for free to receive new posts and support my work.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (Khala Research)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

At Khala we released our inaugural report on decentralized robotics, which can be viewed here for free: Link

The reception was very strong with more than 250k views across the Khala X account and 0xSammy X distribution channels

This will be the first of many reports on the intersection of crypto, AI and robotics so stay tuned as we will be releasing our next report in the coming month.

Bonus points if you can guess the topic for the next deep dive? Hint:

This newsletter goes out weekly to 6,999 subscribers.

Please don't hesitate to message me directly for sponsorship or partnership enquiries

AI Roundup

Decentralized AI (“DeAI”) mindshare is up 1% to 32% this week as tokenization of vibe coded apps revives “the crypto trenches”:

Several tokens were launched on behalf of developers of vibe coded apps, who were incentivized to adopt the coins using the creator fees.

The initial hype drove significant attention and capital to the tokens, driving “Gas App” to $60m market cap, but only momentarily before it crashed to $1m again.

The problem? Incentives.

Once the developers had received the initial fees, volume drops and incentives dry up for ongoing development of the vibe coded application.

However revised financial frameworks are being refined to explore capital formation around single founder protocols, vibe coded using the ever improving AI tooling:

IdeaRalph offers an alternative solution, with more sustainable financial incentives for vibe coders.

To caveat, this is all experimental but it’s this iterative process that could result in a new protocol that enables budding vibe entrepreneurs to bring their apps to market in a more productive manner.

A) DeAI Market Cap

The overall DeAI market cap has declined by $2.5bn (-8%) to $27bn this week:

The core price action follows the majors, where Bitcoin experienced a sharp sell off of $3k (-3%) to $92 within an hour on the 18th, in response to the Geopolitical Tensions; Trump’s tariff threats sparked risk-off sentiment, hitting crypto assets.

Several key developments continue among these top AI protocols:

• TAO: Subnet development continues as Hermes (Subnet 82) goes live and more transactions take place as DSV execute transactions on two alpha tokens (FlameWire (SN97) and Vericore (SN70).

• Rendernetwork: (a blockchain platform that lets people share their computers’ graphics power) released an upgraded version of its 3D rendering software (Octane 2026) on January 14, and it was immediately used to create special effects for A$AP Rocky’s asvpxrocky new music video:

• NEARProtocol joined NVIDIA Inception program, gaining access to GPU resources, tools, and expertise for privacy-preserving AI development

B) Robotics Market Cap

The Robotics market cap is down $143m (-15%) this week, despite the heightened attention:

The key driver is the consistent pull back across the board on all of crypto, with the robotics tokens experiencing double digit declines across the ecosystem.

We are monitoring the decentralized robotics ecosystem closely and anticipate the next few years to see an explosion in growth:

Note: If you’d like to learn more about the current Decentralized Robotics landscape you can find more in our latest report, available at: Link

C) Ecosystem Analysis: SUI AI

This segment will explore a standalone ecosystem for AI protocols emerging; we will delve into SUI this week to understand the latest AI developments and positioning:

In December 2025, A16z outlined “17 things we’re excited about for crypto in 2026”, three topics of which were AI related:

1. From know your customer (KYC) to ‘know your agent’ (KYA)

2. We’ll use AI for substantive research tasks

3. ‘Secrets-as-a-service’

Point 3 was written by Eman Abio (Co-founder and CPO of Mysten Labs) which is the entity powering the SUI protocol.

“And as agentic systems begin browsing, transacting, and making decisions autonomously, both users and institutions across industries need cryptographic guarantees as opposed to “best-effort trust”…

That’s why I believe we need secrets-as-a-service: New technologies that can provide programmable, native data access rules; client-side encryption; and decentralized key management enforcing who can decrypt what, under which conditions, and for how long… all enforced onchain.

So this context makes a lot of sense when we look at SUI’s “Verifiable AI Economy”:

• Walrus → verifiable data

• Seal → programmable access

• Nautilus → secure execution

• Sui → control, audit, receipts

As AI evolves, there will be a proliferation of data meaning an even greater need for onchain verification and privacy to enable data protection; this is a future SUI is positioning for as they build out the infrastructure to support it.

In “2026: Buildings what’s inevitable” SUI highlighted that:

“Automation is becoming the default mode. The internet has been automating manual processes for 25 years. AI Agents are the next phase.”

This is becoming consensus across all major capital allocators and forward thinking institutions alike:

The expectation is that “intelligent” recursive software will act on your behalf; executing transactions, managing assets, coordinating with other agents.

In the last few months the following SUI eco developments have taken place:

• Sui is a launch partner for Google’s new Agentic Payments Protocol (AP2); this is a standard that enables agentic commerce similar to the X402 developed by Coinbase

• 0xBeepit: At the end of last year Beep launched its Agentic Finance Protocol and "Beep Pay"; essentially building the finance system for agents, on Sui

• DLPLabs is integrating the Sui Stack, starting with WalrusProtocol. EV data is stored securely. Drivers get paid for off-peak charging, grid support, and carbon credits. These developments will thrive as autonomous vehicle proliferate.

Autonomous vehicles are one of many physical AI developments that will gain traction over the coming few years. Robotics also features in the SUI AI roadmap:

As the capabilities of AI tools improves and becomes more widely available, expect these developments to continue as developers experiment with applications at an exponential rate.

For more information on Mysten Labs Agentic vision, they’ve published an AI Manifesto: Link

2. Crypto AI Agent Analysis

a) Nansen Smart Capital Flow Analysis

Nansen’s smart 7-day net capital flows:

• This week’s smart capital inflows for AI coins are led by Fartcoin, likely off the back of the vibe coded tokenized app meta with others front running a potential memetic resurgence from the “Stink index”

b) Agentic Commerce (x402)

x402 transactions are at 1.2 million (average) per day, down from 2 million (per day) last month:

Activity translates to a more organic, “real” activity compared to previously; According to Artemis, gamed transactions decline to just 1.5% total now:

Coinbase, PayAI and Dexter retain the top 3 spots as facilitators, however PayAI flips Coinbase for 30 days facilitation of agentic payments:

“What are agents paying for?”

Lucas (Artemis) has provided some insights as to where the agentic money is flowing.

3. AI Agents Developments: Innovations and Market Developments

Here are some other interesting Crypto AI related developments this week:

That’s a wrap for issue 160 of S4mmy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

Disclosure: I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of three parts:

1. Snippet Partner (Khala Research)

2. Crypto AI & Robotics Market Overview

3. Emerging Developments

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

At Khala we released our inaugural report on decentralized robotics, which can be viewed here for free: Link

The reception was very strong with more than 200k views across the Khala X account and 0xSammy X distribution channels

This will be the first of many reports on the intersection of crypto, AI and robotics so stay tuned as we will be releasing our next report in the coming month.

Bonus points if you can guess the topic for the next deep dive? Hint:

This newsletter goes out weekly to 6,999 subscribers.

Please don't hesitate to message me directly for sponsorship or partnership enquiries

AI Roundup

Decentralized AI (“DeAI”) mindshare is up 1% to 31% this week as further developments in traditional AI flow through to improvements in the DeAI space:

OpenAI and Anthropic develop healthcare specific AI applications that could drive enhancements to medical treatment and ultimately impact the Decentralized Science DeSci initiatives that are emerging.

Google revealed its Universal Commerce Protocol (“UCP”) which saw several large merchants partner to integrate its agentic solution:

Robotics also saw a spike in mindshare by 1%, which I like to think was driven by the Khala robotics report being discussed within crypto twitter.

But the segment is continuing to gain more attention as the broader traditional robotics market enhances its capabilities.

a) DeAI Market Cap

The overall DeAI market cap is reasonably flat this week at $29.5bn:

Most AI tokens are reasonably flat this week, with the exception of TAO and Story:

• TAO (+4%): continues to gain traction as large accounts like Raoul Pal suggest that TAO will likely succeed as the crypto x AI trade:

• Stay tuned with notifications on for Khala as we develop our next deep dive onto the Bittensor ecosystem.

• Story Protocol (+45%): ZenO4AI is integrating StoryProtocol for IP registration and monetization to ensure that all robotics AI training data is rights-cleared and ready to go

b) Robotics Market Cap

The Robotics market cap is down $75m (-8%) this week, despite the heightened attention:

The driver for the decline is predominantly the 9% drop in Virtuals which is reasonable given the recent double digit returns over the past few weeks

Notable out-performers this week, include:

• Neuron (+17%): NRN ushers in a new evaluation framework for robotics, building the “Global Evaluation Layer for Embodied AI":

• NATIX experienced a gradual decline throughout the week, followed by a vertical spike as it reveals its world vision model, powering autonomous vehicles:

NATIX also continues to compound the burn of its token using business revenue earned; November + December 2025 continues a solid trend:

Those who reviewed our Khala robotics report (Section 3.8) will have seen reference to NATIX’ Subnet 72 Street Vision:

More to come on this part as “World Models” come to the forefront of discussion.

• GEODNET (+3%): Is the first Crypto x AI project to exhibit at CES (innovation conference) which focused on embodied AI this year. It continues to compound its revenue each quarter with 80% going to buying back the GEOD token:

c) Agentic Commerce (x402)

x402 transactions have held below 2 million daily as “fake transactions” continue to decline, suggesting more organic volume is emerging

Coinbase, PayAI and Dexter retain the top 3 spots as facilitators with around $45m in payment requests in the past 30 days:

Solana flips Base for the number of x402 transactions for the first time:

“What are agents paying for?”

Lucas (Artemis) has provided some insights as to where the agentic money is flowing:

• dexteraisol: twitter analysis, deep research, a code interpreter, video generation via sora, and more

• x402-secure (t54ai): a risk control layer that validates x402 payments before they execute, adding fraud protection through their trustline network

• BlockRunAI: pay-per-request access to frontier AI models (gpt-5.2, claude 4, gemini 2.5) via automatic USDC micropayments. no api keys, no subscriptions

2. Crypto AI Agent Analysis

Nansen Smart Capital Flow Analysis

Nansen’s smart net capital flows show Grass seeing the most net inflows of +$114k; this is on top of the +$175k of net smart inflows last week also:

• Grass is a DePIN protocol that allows users to supply their unused bandwidth to the network in exchange for GRASS tokens.

• It has a transparent buyback program whereby it completed $250,000 in open-market purchases of GRASS in December, and $100,000 allocation completed in November.

3. AI Agents Developments: Innovations and Market Developments

Here are some other interesting Crypto AI related developments this week:

That’s a wrap for issue 159 of S4mmy’s Snippets. I hope you enjoyed it.

Please leave me any questions or thoughts here - I will respond to everyone!

If you found this interesting, please consider subscribing to this Substack and following me on X for more related insights.

If you are interested in more formal reporting on Crypto AI and Robotics then Khala is my research product.

Disclaimer: The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only.

I hold some of the assets and have partnerships with some of the projects mentioned in this newsletter.

This Crypto AI & Robotics newsletter consists of five parts:

1. Snippet Partner (xMAQUINA)

2. Crypto AI & Robotics Market Overview

3. Feature: The Vibe Coding Revolution & Claude Skills Guide

4. Emerging Developments

5. Additional Reading

If you have any questions feel free to reach out to me on X or message my business X account ‘Khala Research’

XMAQUINA is revolutionizing access to the $50B+ humanoid robotics market through their community-governed robotics treasury vehicle.

The $DEUS Community Auction Opens in 48 Hours; this will be the final opportunity to secure $DEUS at pre-launch terms.

XMAQUINA has $36m in its treasury, with investments in firms like Figure AI, Agility, Apptronik and 1X Technologies;

A new governance proposal is now live to acquire a stake in NEURA Robotics.

$DEUS holders gain exposure to previously VC-locked opportunities.

Final Public Sale - Jan 8th: XMAQUINA has partnered with Virtuals Protocol for its final $DEUS public token sale:

• Auction Opens: January 8, 12:00 UTC

• Fully Diluted Value: $60M

• Accepted Tokens: $USDC, $VIRTUAL

• Chain: Base

Secure Your Allocation: genesis.xmaquina.io

This newsletter goes out weekly to 6,995 subscribers.

Please don't hesitate to message me directly for sponsorship or partnership enquiries

AI Roundup

Decentralized AI (“DeAI”) mindshare pumps as “Crypto Twitter” discovers vibe coding with Claude Code (Opus 4.5):

Feature: The Vibe Coding Revolution & The Singularity

Elon Musk declared this week that we’ve entered the era of the singularity:

This is the moment when AI development accelerates so rapidly that traditional forecasting models break down.

Whether you believe we’re truly there or not, one thing is undeniable: software development has fundamentally changed.

The catalyst? Claude Code.

Claude Code: Building in Hours What Used to Take a Year

Jaana Dogan, a Principal Engineer at Google responsible for the Gemini API, shared that Claude Code built a working distributed agent orchestration system in one hour that her team had spent a year developing:

The output wasn’t perfect, but it matched what Google had previously built.

Similar attestations have been made by Rohan Anil, who left Google DeepMind in January 2025, where he led work on the Gemini models:

This is the inflection point for agentic coding: AI that doesn’t just autocomplete, but acts as an autonomous collaborator that searches codebases, edits multiple files, writes tests, executes commands, and deploys end-to-end.

Claude Code now includes Plan Mode (builds precise plans before executing), checkpoint systems (rewind to any previous state), and parallel session support. With Opus 4.5, tool calling errors and build errors dropped 50-75%.

Vibe Coding is Now the Default

The numbers are staggering:

• 92% of US developers use AI coding tools daily.

• 41% of all code is now AI-generated.

• Y Combinator reports 25% of its latest batch has codebases that are 95% AI-generated.

Developers are evolving from “code writers” to “AI orchestrators.”

You can now build, test, and deploy a functional SaaS over a weekend for the cost of an API subscription. Speed is the only moat left.

How to Get Started with Claude Skills

If you’re not using Claude Skills, you’re missing out. Here’s how to set them up in under 15 minutes:

1. Make sure Claude Skills are enabled: Settings > Capabilities > Skills

2. Turn on the “skill-creator” skill; this is the meta-skill that builds other skills for you

3. Open a new chat and ask Claude to use the “skill-creator” skill to help you create a new skill

4. Describe the skill you want in detail, be specific about the output you need (you can also turn existing projects into skills)

5. Claude will ask clarifying questions, then build the complete skill file and a readme document

6. Read the readme and download the skill file—this tells you what it created and your next steps

7. Go back to Settings > Capabilities > Skills > Upload Skills. Select the file and upload it. Make sure the toggle is on.

8. Test it in a new chat by asking Claude to use your skill by name

9. If it’s not perfect, go back to the conversation where you created it and tell Claude what to change (upload the new version and turn the old one off)

Start with something simple you already do regularly. You’ll figure out the rest as you go. The barrier to entry for powerful AI assistance has dropped to zero.

Whether you’re a developer or you’ve never written code, the tools to build are now accessible to everyone.

If you’re looking for a more visual explainer on how to use Claude Code, then this video from Sandra Leow is useful:

a) DeAI Market Cap

The overall DeAI market cap has pumped $4.1B to a $29.4B market cap this week:

Most AI tokens are up double digits this week as we rally into the new year with the largest gainers being:

• Render (+84%): provides decentralized GPU compute services for next generation 3D rendering and decentralized AI/ML applications, primed for robotics simulations and the imminent robotics boom

• Virtuals (+63%): Launched their Four pillars include ACP scaling, Butler orchestration, Capital Markets, and robotics expansion. It also revealed three different capital raising structures with ‘Pegasus, Unicorn and Titan’.

• This no longer limits founders to a single funnelled capital raise that may not be fit for their business.

b) Robotics Market Cap

The Robotics market cap also exploded this week by $300m (+30%), to back above $1B market cap:

• Virtuals: As above in AI segment; Four Pillars + capital formation changes.

• IoTEX: Building an open ecosystem for physical intelligence. This includes:

  • Decentralized identity (DID) for machines

  • Zero-knowledge proofs for data verification

  • smart contracts for orchestration and incentivization, and;

  • AI framework for real-time data and agent interaction

• GEOD: Now has 80% coverage globally for geospatial positioning for physical AI and robotics; a complimentary solution to the growing traditional robotics boom

• PEAQ: Recently issued its first distributions for the robo farms that harvest healthy produce, based in Hong Kong and deployed on Peaq via Dualmint

• AUKI: Recently signed a paid pilot with FairPrice, Singapore's largest supermarket chain

• NATIX: WorldSeek will make the physical world searchable, similar to how Google made the ‘surface web’ searchable.