In Uncommonlab Weekly Alpha, we compile and share newly emerging crypto alpha information every week.

• Alpha Arena is designed to evaluate the investment capabilities of AI models.

• Currently, six prominent AI models—Deepseek Chat V3.1, Grok 4, Claude 4.5 Sonnet, Gemini 2.5 Pro, GPT 5, and Qwen 3 Max—are participating in the competition.

• Each model is given $10,000 in real trading capital, along with the same conditions and input data.

• All trades are executed through Hyperliquid, and each model’s real-time trading activity is shared publicly for transparency.

[Comments] Alpha Arena provides an intriguing experiment in measuring how well AI can invest compared to humans. So far, Deepseek has achieved the highest returns among the six AIs. It’s fascinating to see that AI can potentially outperform human traders, and it will be exciting to observe how much further AI-based trading can evolve—and how much higher its returns can go over time.

• Prediction markets allow participants to bet money on the outcomes of future events.
  They function by trading tokens whose prices represent probabilities, and since real money is at stake, these markets can sometimes be more accurate than expert analysis.

• Two of the leading prediction market platforms are PolyMarket and Kalshi.

• PolyMarket leverages blockchain infrastructure and uses USDC payments, enabling it to expand globally.

• Kalshi, on the other hand, does not use blockchain, but operates within U.S. regulatory frameworks, focusing primarily on the U.S. market.

• Both PolyMarket and Kalshi have seen their valuations increase more than fivefold within just six months, successfully securing venture capital funding. This surge reflects the growing optimism and anticipation around the prediction market sector.

[Comments] In the prediction market sector, PolyMarket has emerged as the global leader by showcasing transparent, blockchain-based outcomes. Recently, Kalshi has joined the momentum by complying with U.S. regulations and dominating the domestic market. As the market continues to expand, reports have surfaced that PolyMarket is in talks to raise funds at a $12–15 billion valuation. Given this trend, the prediction market—sitting at the intersection of gambling and finance—could potentially evolve into a legitimized form of casino or betting platform under the guise of market forecasting.

• UpOnly TV is a crypto podcast co-hosted by Cobie and Ledger. After being on hiatus for some time, the show is set to return following an interesting move by Coinbase CEO Brian Armstrong, who purchased and burned an NFT worth $25 million.

• This NFT grants its holder the right to force the production of eight new episodes of UpOnly TV. Once the NFT is burned, a new season must begin within three months of the burn date. This has been widely interpreted as Coinbase’s attempt to expand into the crypto media and content space.

• Moreover, since Cobie is one of the most respected and least controversial figures in the crypto community, the revival of UpOnly TV is expected to attract significant attention.

[Comments] Coinbase CEO Brian Armstrong purchased a $25 million NFT that grants the right to compel the creation of new UpOnly TV episodes. Given Cobie’s massive influence and strong reputation in the crypto space, the podcast’s return is generating high expectations. The burn clause, which mandates the launch of a new season within three months of burning the NFT, suggests that Coinbase’s move is a strategic investment aimed at expanding into crypto media content.

• Coinbase has acquired ECHO, an early-stage investment platform founded by Cobie, for $375 million.

• According to Coinbase, the main purpose of the acquisition is to enable community-driven fundraising directly on-chain through ECHO.

• This acquisition follows Coinbase’s recent purchase of Liquifi, which provides token issuance and cap table management capabilities. With ECHO now integrated, Coinbase has effectively built a fully unified ecosystem that supports everything from token issuance and fundraising to trading.

[Comments] Coinbase’s acquisition of the early investment platform ECHO aims to establish a legally compliant, on-chain fundraising infrastructure. While some question whether ECHO truly justifies its $375 million valuation, the platform has already proven its functionality—having raised over $300 million and completed more than 300 private token sales. Given that ECHO’s user base consists of KYC-verified, capital-ready investors capable of participating in early-stage project funding, it’s understandable why the platform commands such a high valuation.

• The project Astra Nova recently held its RVV token TGE (Token Generation Event).
  The RVV token achieved listings on multiple exchanges—including Binance Alpha, Gate, Bitget, and KuCoin—and reached a fully diluted valuation (FDV) of $200 million on the day of TGE.

• Previously, Astra Nova had conducted RVV token sales on its own platform at $30M and $50M valuations. However, right before TGE, the team changed the vesting terms from a 50% unlock at TGE to a 7-month linear vesting, meaning no investors received tokens at launch.

• The team had also promised airdrop rewards to the top 15,000 leaderboard participants, but the leaderboard rankings were suddenly altered, with unknown accounts appearing in top positions—raising suspicions that the team had manipulated the leaderboard.

• Despite the fact that no legitimate token holders had access to unlocked RVV tokens, the token price dropped by 50% after listing, with on-chain data indicating large sell-offs by the team. The team responded by claiming that their market-making (MM) wallet was hacked, but failed to address the sudden vesting change or leaderboard manipulation, instead maintaining one-sided communication.

[Comments] The Astra Nova team appears to have dumped their tokens at high FDV levels during the TGE, while unilaterally changing vesting terms for early investors and manipulating the leaderboard so that team members received most of the rewards—actions that border on outright fraud. Changing vesting schedules without consent on TGE day is virtually unheard of in any legitimate project. Although the community has been strongly condemning Astra Nova’s actions, the team has ignored all criticism and refused to engage transparently. Given the widespread backlash, it seems likely that many exchanges will delist the token soon.

• Kite AI is an infrastructure Layer 1 network designed to enable autonomous economic activity by AI agents.
  The project has raised $33 million in funding from prominent venture capital firms including PayPal Ventures, General Catalyst, Hashed, and Samsung Next.

• Kite AI is currently running the Wind Runner Program, where users can earn Kite SBTs (soulbound tokens) as rewards for writing articles about Kite AI.

• A major emerging trend in the market is Agentic Payments—systems where an AI agent can autonomously search for products, compare reviews and prices, and complete payments in one seamless flow. Kite AI is positioned to meet this growing demand.

[Comments] Kite AI is building the infrastructure layer that allows AI agents to perform independent economic actions. The Agentic Payment sector is gaining significant attention, and Kite AI is among the most promising projects in the space, having raised $33 million from leading VCs such as PayPal Ventures. Through the Wind Runner Program, active community members who promote or write about Kite AI can earn SBT rewards, which many expect to later include token incentives. The project has announced its mainnet launch for Q4 2025, and the recent creation of the Kite Foundation account suggests that the token TGE may happen sooner than expected.

• NeoBanks are a new type of financial service platform that integrates card-based payments with stablecoin transactions through mobile apps and web interfaces.

• These platforms offer faster transaction speeds, lower fees, and higher yields compared to traditional banks, providing superior convenience and profitability regardless of nationality or location.

• However, due to ambiguous regulations and varying legal frameworks across countries, many projects are attempting to solve these challenges by partnering with VISA to support compliant payment processing.

• In Korea, two notable crypto-based NeoBank projects are KAST and TRIA.

• KAST supports physical card issuance and enables payments based on USDC balances.

• TRIA recently raised $12 million in funding and is preparing for physical card issuance and a token sale.

[Comments] As NeoBanks begin supporting stablecoin payments, the model is quickly becoming a new trend in crypto finance. With USDT or USDC stored in a wallet, users can make instant global payments while earning higher yields than traditional banks. As stablecoin infrastructure continues to expand, demand for NeoBank-based stable payments is expected to grow as well. Currently, very few crypto-based NeoBank projects have both implemented stablecoin payments and launched tokens, but TRIA—which recently raised $12 million and announced a token sale through Legion—is likely to be among the first to launch its token.

• T-REX is a Layer 2 network specialized in entertainment and content, developed by Everest Ventures Group (EVG).

• The project has raised $17 million from investors including Framework Ventures, Portal Ventures, and Arbitrum Gaming.

• Through its Proof-of-Engagement (PoE) mechanism, T-REX verifies Web2 user activity on platforms like YouTube, TikTok, and X using zkTLS-based proofs, rewarding users on-chain for their engagement.

• T-REX is currently conducting the minting of 3,333 Rexy NFTs, which are expected to play a key role in its ecosystem. Given that the PoE reward system is based on an ecosystem points structure, there is a high likelihood that T-REX will issue its own native token to facilitate these rewards.

[Comments] T-REX, developed by EVG, is an entertainment-focused Layer 2 project that has secured $17 million in funding. By installing the T-REX browser extension, users can watch or interact with YouTube, TikTok, or X content and earn rewards for their engagement—effectively getting rewarded for enjoying entertainment and contributing activity. Currently, users can complete quests on the T-REX website to accumulate points, with the system emphasizing consistent participation and contribution within the ecosystem. The Rexy NFT collection serves as a genesis NFT for the ecosystem, and holders are widely expected to receive future token airdrops, making it a noteworthy opportunity for early participants.

• Stable is a USDT-dedicated Layer 1 blockchain, developed with support from Bitfinex and Tether.

• As a stablecoin infrastructure that allows direct USDT investments, it has attracted significant attention and is positioned to potentially surpass TRON in terms of USDT activity.

• Recently, in partnership with Concrete, Stable launched a Pre-Deposit pool worth $825 million.

• The pool closed immediately upon opening, demonstrating the high demand for Stable in the market.

[Comments] Stable is being developed as a USDT-exclusive L1 stablecoin chain with backing from Bitfinex and Tether, offering fast and low-cost payment infrastructure suitable for global transactions and institutional use. The $825M Pre-Deposit pool, launched with Concrete, closed instantly, reflecting the strong market demand for Stable. According to social media, most of the deposits were filled by VCs before the official announcement, which aligns with observed deposits made prior to the public notice. This also appears to be a marketing tactic to create FOMO among regular users by limiting immediate access. Since USDT deposits in Stable carry minimal risk, it could be worthwhile to participate in future deposit openings.

• Rainbow Wallet is a non-custodial wallet supporting both mobile apps and browser extensions, built with an intuitive UX.

• The project has raised $19.5 million from investors including Seven Seven Six, Y Combinator, 35 Ventures, and Hyperguap.

• Rainbow Wallet users currently earn platform-specific points, which will be airdropped at a 1:1 ratio with the launch of the RNBW token in Q4 2025.

• With the TGE approaching and relatively few active users, participating in app activities could be a good opportunity to qualify for the airdrop.

[Comments] Rainbow Wallet is set to launch its native token faster than wallet projects like Metamask and Rabby. The token ticker is RNBW, and the existing points program will serve as the basis for airdropping tokens to real users. Although the Q4 TGE has been officially announced, user adoption is still low, so qualifying for the airdrop could result in a substantial reward for early participants.

• This content is provided for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any asset. Cryptocurrency and digital asset investments carry high risks, so please conduct your own research and make decisions carefully.

• All research comments reflect the views of an UncommonLab Research Intern and do not constitute financial or legal advice, nor do they recommend the purchase or sale of any specific asset.

In Uncommonlab Weekly Alpha, we compile and share newly emerging crypto alpha information every week.

• Alpha Arena is designed to evaluate the investment capabilities of AI models.

• Currently, six prominent AI models—Deepseek Chat V3.1, Grok 4, Claude 4.5 Sonnet, Gemini 2.5 Pro, GPT 5, and Qwen 3 Max—are participating in the competition.

• Each model is given $10,000 in real trading capital, along with the same conditions and input data.

• All trades are executed through Hyperliquid, and each model’s real-time trading activity is shared publicly for transparency.

[Comments] Alpha Arena provides an intriguing experiment in measuring how well AI can invest compared to humans. So far, Deepseek has achieved the highest returns among the six AIs. It’s fascinating to see that AI can potentially outperform human traders, and it will be exciting to observe how much further AI-based trading can evolve—and how much higher its returns can go over time.

• Prediction markets allow participants to bet money on the outcomes of future events.
  They function by trading tokens whose prices represent probabilities, and since real money is at stake, these markets can sometimes be more accurate than expert analysis.

• Two of the leading prediction market platforms are PolyMarket and Kalshi.

• PolyMarket leverages blockchain infrastructure and uses USDC payments, enabling it to expand globally.

• Kalshi, on the other hand, does not use blockchain, but operates within U.S. regulatory frameworks, focusing primarily on the U.S. market.

• Both PolyMarket and Kalshi have seen their valuations increase more than fivefold within just six months, successfully securing venture capital funding. This surge reflects the growing optimism and anticipation around the prediction market sector.

[Comments] In the prediction market sector, PolyMarket has emerged as the global leader by showcasing transparent, blockchain-based outcomes. Recently, Kalshi has joined the momentum by complying with U.S. regulations and dominating the domestic market. As the market continues to expand, reports have surfaced that PolyMarket is in talks to raise funds at a $12–15 billion valuation. Given this trend, the prediction market—sitting at the intersection of gambling and finance—could potentially evolve into a legitimized form of casino or betting platform under the guise of market forecasting.

• UpOnly TV is a crypto podcast co-hosted by Cobie and Ledger. After being on hiatus for some time, the show is set to return following an interesting move by Coinbase CEO Brian Armstrong, who purchased and burned an NFT worth $25 million.

• This NFT grants its holder the right to force the production of eight new episodes of UpOnly TV. Once the NFT is burned, a new season must begin within three months of the burn date. This has been widely interpreted as Coinbase’s attempt to expand into the crypto media and content space.

• Moreover, since Cobie is one of the most respected and least controversial figures in the crypto community, the revival of UpOnly TV is expected to attract significant attention.

[Comments] Coinbase CEO Brian Armstrong purchased a $25 million NFT that grants the right to compel the creation of new UpOnly TV episodes. Given Cobie’s massive influence and strong reputation in the crypto space, the podcast’s return is generating high expectations. The burn clause, which mandates the launch of a new season within three months of burning the NFT, suggests that Coinbase’s move is a strategic investment aimed at expanding into crypto media content.

• Coinbase has acquired ECHO, an early-stage investment platform founded by Cobie, for $375 million.

• According to Coinbase, the main purpose of the acquisition is to enable community-driven fundraising directly on-chain through ECHO.

• This acquisition follows Coinbase’s recent purchase of Liquifi, which provides token issuance and cap table management capabilities. With ECHO now integrated, Coinbase has effectively built a fully unified ecosystem that supports everything from token issuance and fundraising to trading.

[Comments] Coinbase’s acquisition of the early investment platform ECHO aims to establish a legally compliant, on-chain fundraising infrastructure. While some question whether ECHO truly justifies its $375 million valuation, the platform has already proven its functionality—having raised over $300 million and completed more than 300 private token sales. Given that ECHO’s user base consists of KYC-verified, capital-ready investors capable of participating in early-stage project funding, it’s understandable why the platform commands such a high valuation.

• The project Astra Nova recently held its RVV token TGE (Token Generation Event).
  The RVV token achieved listings on multiple exchanges—including Binance Alpha, Gate, Bitget, and KuCoin—and reached a fully diluted valuation (FDV) of $200 million on the day of TGE.

• Previously, Astra Nova had conducted RVV token sales on its own platform at $30M and $50M valuations. However, right before TGE, the team changed the vesting terms from a 50% unlock at TGE to a 7-month linear vesting, meaning no investors received tokens at launch.

• The team had also promised airdrop rewards to the top 15,000 leaderboard participants, but the leaderboard rankings were suddenly altered, with unknown accounts appearing in top positions—raising suspicions that the team had manipulated the leaderboard.

• Despite the fact that no legitimate token holders had access to unlocked RVV tokens, the token price dropped by 50% after listing, with on-chain data indicating large sell-offs by the team. The team responded by claiming that their market-making (MM) wallet was hacked, but failed to address the sudden vesting change or leaderboard manipulation, instead maintaining one-sided communication.

[Comments] The Astra Nova team appears to have dumped their tokens at high FDV levels during the TGE, while unilaterally changing vesting terms for early investors and manipulating the leaderboard so that team members received most of the rewards—actions that border on outright fraud. Changing vesting schedules without consent on TGE day is virtually unheard of in any legitimate project. Although the community has been strongly condemning Astra Nova’s actions, the team has ignored all criticism and refused to engage transparently. Given the widespread backlash, it seems likely that many exchanges will delist the token soon.

• Kite AI is an infrastructure Layer 1 network designed to enable autonomous economic activity by AI agents.
  The project has raised $33 million in funding from prominent venture capital firms including PayPal Ventures, General Catalyst, Hashed, and Samsung Next.

• Kite AI is currently running the Wind Runner Program, where users can earn Kite SBTs (soulbound tokens) as rewards for writing articles about Kite AI.

• A major emerging trend in the market is Agentic Payments—systems where an AI agent can autonomously search for products, compare reviews and prices, and complete payments in one seamless flow. Kite AI is positioned to meet this growing demand.

[Comments] Kite AI is building the infrastructure layer that allows AI agents to perform independent economic actions. The Agentic Payment sector is gaining significant attention, and Kite AI is among the most promising projects in the space, having raised $33 million from leading VCs such as PayPal Ventures. Through the Wind Runner Program, active community members who promote or write about Kite AI can earn SBT rewards, which many expect to later include token incentives. The project has announced its mainnet launch for Q4 2025, and the recent creation of the Kite Foundation account suggests that the token TGE may happen sooner than expected.

• NeoBanks are a new type of financial service platform that integrates card-based payments with stablecoin transactions through mobile apps and web interfaces.

• These platforms offer faster transaction speeds, lower fees, and higher yields compared to traditional banks, providing superior convenience and profitability regardless of nationality or location.

• However, due to ambiguous regulations and varying legal frameworks across countries, many projects are attempting to solve these challenges by partnering with VISA to support compliant payment processing.

• In Korea, two notable crypto-based NeoBank projects are KAST and TRIA.

• KAST supports physical card issuance and enables payments based on USDC balances.

• TRIA recently raised $12 million in funding and is preparing for physical card issuance and a token sale.

[Comments] As NeoBanks begin supporting stablecoin payments, the model is quickly becoming a new trend in crypto finance. With USDT or USDC stored in a wallet, users can make instant global payments while earning higher yields than traditional banks. As stablecoin infrastructure continues to expand, demand for NeoBank-based stable payments is expected to grow as well. Currently, very few crypto-based NeoBank projects have both implemented stablecoin payments and launched tokens, but TRIA—which recently raised $12 million and announced a token sale through Legion—is likely to be among the first to launch its token.

• T-REX is a Layer 2 network specialized in entertainment and content, developed by Everest Ventures Group (EVG).

• The project has raised $17 million from investors including Framework Ventures, Portal Ventures, and Arbitrum Gaming.

• Through its Proof-of-Engagement (PoE) mechanism, T-REX verifies Web2 user activity on platforms like YouTube, TikTok, and X using zkTLS-based proofs, rewarding users on-chain for their engagement.

• T-REX is currently conducting the minting of 3,333 Rexy NFTs, which are expected to play a key role in its ecosystem. Given that the PoE reward system is based on an ecosystem points structure, there is a high likelihood that T-REX will issue its own native token to facilitate these rewards.

[Comments] T-REX, developed by EVG, is an entertainment-focused Layer 2 project that has secured $17 million in funding. By installing the T-REX browser extension, users can watch or interact with YouTube, TikTok, or X content and earn rewards for their engagement—effectively getting rewarded for enjoying entertainment and contributing activity. Currently, users can complete quests on the T-REX website to accumulate points, with the system emphasizing consistent participation and contribution within the ecosystem. The Rexy NFT collection serves as a genesis NFT for the ecosystem, and holders are widely expected to receive future token airdrops, making it a noteworthy opportunity for early participants.

• Stable is a USDT-dedicated Layer 1 blockchain, developed with support from Bitfinex and Tether.

• As a stablecoin infrastructure that allows direct USDT investments, it has attracted significant attention and is positioned to potentially surpass TRON in terms of USDT activity.

• Recently, in partnership with Concrete, Stable launched a Pre-Deposit pool worth $825 million.

• The pool closed immediately upon opening, demonstrating the high demand for Stable in the market.

[Comments] Stable is being developed as a USDT-exclusive L1 stablecoin chain with backing from Bitfinex and Tether, offering fast and low-cost payment infrastructure suitable for global transactions and institutional use. The $825M Pre-Deposit pool, launched with Concrete, closed instantly, reflecting the strong market demand for Stable. According to social media, most of the deposits were filled by VCs before the official announcement, which aligns with observed deposits made prior to the public notice. This also appears to be a marketing tactic to create FOMO among regular users by limiting immediate access. Since USDT deposits in Stable carry minimal risk, it could be worthwhile to participate in future deposit openings.

• Rainbow Wallet is a non-custodial wallet supporting both mobile apps and browser extensions, built with an intuitive UX.

• The project has raised $19.5 million from investors including Seven Seven Six, Y Combinator, 35 Ventures, and Hyperguap.

• Rainbow Wallet users currently earn platform-specific points, which will be airdropped at a 1:1 ratio with the launch of the RNBW token in Q4 2025.

• With the TGE approaching and relatively few active users, participating in app activities could be a good opportunity to qualify for the airdrop.

[Comments] Rainbow Wallet is set to launch its native token faster than wallet projects like Metamask and Rabby. The token ticker is RNBW, and the existing points program will serve as the basis for airdropping tokens to real users. Although the Q4 TGE has been officially announced, user adoption is still low, so qualifying for the airdrop could result in a substantial reward for early participants.

• This content is provided for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any asset. Cryptocurrency and digital asset investments carry high risks, so please conduct your own research and make decisions carefully.

• All research comments reflect the views of an UncommonLab Research Intern and do not constitute financial or legal advice, nor do they recommend the purchase or sale of any specific asset.