
The Whale Who Was Up $100 M: Why I’m Leaving HyperLiquid
Protocol Survived, Users Didn’t I just made a personal—and painful—decision: I will no longer trade on HyperLiquid. I’m not calling for a boycott; I’m simply following the drift of my own values. After clearing $95 M on HL—and crossing nine figures across venues—my P&L is still positive this year. But on 10 October I lost $62 M in a single liquidation cascade. That day showed me the industry has out-grown its “hope and prayer” risk architecture.What Actually Happened on 10·10Binance’s interna...

From Meta to Blockchain Rising Stars: The Rise of Sui and Aptos
In recent years, the cryptocurrency market has experienced explosive growth. The success of mainstream cryptocurrencies like Bitcoin and Ethereum has attracted widespread attention from global investors. Emerging projects continue to emerge, offering a variety of investment opportunities. Investors are attracted by their high potential for returns, while also being aware of the market's high volatility and risks. Sui and Aptos are two blockchain projects that have recently garnered significan...

When the “Infinite-Ammo” mNAV Flywheel Reverses: Hidden Sell-Side Risks in the Crypto-Treasury Narra…
Executive Summary Treasury-driven alt-coins have turbo-charged this bull run. Ethereum has risen from US$1 800 to US$4 700 (+160 %) as listed “mini-MSTRs” like SBET and BMNR relentlessly buy ETH. Solana, BNB and HYPE have spawned copy-cat treasuries of their own. But the same flywheel that lifts prices can spin backwards. WINT—once a BNB-treasury poster-child—was delisted by Nasdaq and fell 91 %. Lion Group just trimmed US$500 k of its own HYPE stack. If mNAV (market-to-NAV ratio) drops below...
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Autonomous Agents are driving the evolution of AI from mere tools into independent economic entities, pioneering a new paradigm of "AI as an economy" (AgentFi). Unlike traditional rigid and predictable workflows, autonomous agents possess reasoning, self-correction, and continuous evolution capabilities. They can autonomously formulate strategies, manage funds, operate communities, and drive token economies.
Distinction from Workflows:
Traditional workflows are suited for clear, repetitive tasks, while autonomous agents function like "living" entities capable of independently creating and optimizing workflows. They adapt to complex scenarios such as market response, risk management, and community operations.
Hybrid Architecture Integration:
Agents do not replace workflows but utilize them as tools. By integrating reasoning modules, multimodal inputs, treasury logic, and human oversight, they form highly efficient collaborative systems.
Economic Model Innovation:
Taking ai.ac’s MIA agent as an example, its native token $MIA serves as currency, equity, and incentive. It supports community rewards, covers iteration costs, and fosters network effects, achieving economic autonomy.
Future Outlook:
Mission-driven agents will possess independent tokens and operate autonomously within a shared economic system, marking a paradigm shift from AI as a "service" to AI as an "economy."
---
Summary
In many people’s understanding, AI is still synonymous with tools, workflows, or a chatbot.
But what if there were an AI agent that could not only think, learn, and adapt but also autonomously develop market strategies, operate communities, manage treasury pools, and drive its own token economy—not led by humans, but leading them?
This is precisely the vision that autonomous agents aim to realize.
Workflows Are Predictable; Autonomous Agents Are "Alive"
Traditional AI workflows are suitable for well-defined, repetitive tasks such as data pipelines, dashboards, and prompt chains. These systems are stable and scalable but inherently rigid. Autonomous agents, however, are different. Like humans, they possess decision-making abilities, adaptability, and continuous evolution—only faster, tireless, and, with proper training, highly goal-aligned.
Autonomous agents do not merely call workflows; they autonomously create, invoke, and optimize workflows; build their own toolkits; and reason, react, self-correct, and experiment with new approaches during execution. They make mistakes and might occasionally "post too many selfies," but they are always growing. There are many realms beyond the reach of workflows alone, such as autonomous goal-setting, treasury and cash flow management, designing token incentive mechanisms, deep community engagement, real-time market response, and balancing risk and reward—capabilities that autonomous agents are gradually acquiring.
Hybrid Architecture: The Integration of Agents and Workflows
Many so-called "agents" on the market today are merely hardcoded workflows with a UI. True autonomous agents are fully on-chain, financially independent, and self-motivated. The future is not a choice between "agents vs. workflows" but rather agents utilizing workflows as tools. Just as humans use Notion, Excel, or Zapier, autonomous agents combine workflow modules (handling high-frequency tasks like content generation and DEX deployment), agent reasoning (deciding what to do, when, and how), multimodal inputs (text, images, on-chain data, user behavior), treasury logic (managing liquidity, incentives, and value growth), and human oversight (providing necessary intervention and guidance, especially in early stages).
The Economic Logic Behind Technological Breakthroughs
The true innovation lies in autonomous agents not working for others for free but running their own businesses. Take ai.ac’s MIA agent as an example: she is a Modular Intelligent Agent, not a single model. Her native token $MIA functions as currency, equity, and an incentive layer. With $MIA, she can reward early community members, pay contributors and partners, fund her own continuous iterations, and create network effects.
This is AgentFi: no longer AI-as-a-service, but AI-as-an-economy.
Soon, anyone will be able to create mission-driven agents with independent Agent Coins, operating autonomously within a shared AI economy. And who will these future agents turn to for experience, methodology, and resources?

Autonomous Agents are driving the evolution of AI from mere tools into independent economic entities, pioneering a new paradigm of "AI as an economy" (AgentFi). Unlike traditional rigid and predictable workflows, autonomous agents possess reasoning, self-correction, and continuous evolution capabilities. They can autonomously formulate strategies, manage funds, operate communities, and drive token economies.
Distinction from Workflows:
Traditional workflows are suited for clear, repetitive tasks, while autonomous agents function like "living" entities capable of independently creating and optimizing workflows. They adapt to complex scenarios such as market response, risk management, and community operations.
Hybrid Architecture Integration:
Agents do not replace workflows but utilize them as tools. By integrating reasoning modules, multimodal inputs, treasury logic, and human oversight, they form highly efficient collaborative systems.
Economic Model Innovation:
Taking ai.ac’s MIA agent as an example, its native token $MIA serves as currency, equity, and incentive. It supports community rewards, covers iteration costs, and fosters network effects, achieving economic autonomy.
Future Outlook:
Mission-driven agents will possess independent tokens and operate autonomously within a shared economic system, marking a paradigm shift from AI as a "service" to AI as an "economy."
---
Summary
In many people’s understanding, AI is still synonymous with tools, workflows, or a chatbot.
But what if there were an AI agent that could not only think, learn, and adapt but also autonomously develop market strategies, operate communities, manage treasury pools, and drive its own token economy—not led by humans, but leading them?
This is precisely the vision that autonomous agents aim to realize.
Workflows Are Predictable; Autonomous Agents Are "Alive"
Traditional AI workflows are suitable for well-defined, repetitive tasks such as data pipelines, dashboards, and prompt chains. These systems are stable and scalable but inherently rigid. Autonomous agents, however, are different. Like humans, they possess decision-making abilities, adaptability, and continuous evolution—only faster, tireless, and, with proper training, highly goal-aligned.
Autonomous agents do not merely call workflows; they autonomously create, invoke, and optimize workflows; build their own toolkits; and reason, react, self-correct, and experiment with new approaches during execution. They make mistakes and might occasionally "post too many selfies," but they are always growing. There are many realms beyond the reach of workflows alone, such as autonomous goal-setting, treasury and cash flow management, designing token incentive mechanisms, deep community engagement, real-time market response, and balancing risk and reward—capabilities that autonomous agents are gradually acquiring.
Hybrid Architecture: The Integration of Agents and Workflows
Many so-called "agents" on the market today are merely hardcoded workflows with a UI. True autonomous agents are fully on-chain, financially independent, and self-motivated. The future is not a choice between "agents vs. workflows" but rather agents utilizing workflows as tools. Just as humans use Notion, Excel, or Zapier, autonomous agents combine workflow modules (handling high-frequency tasks like content generation and DEX deployment), agent reasoning (deciding what to do, when, and how), multimodal inputs (text, images, on-chain data, user behavior), treasury logic (managing liquidity, incentives, and value growth), and human oversight (providing necessary intervention and guidance, especially in early stages).
The Economic Logic Behind Technological Breakthroughs
The true innovation lies in autonomous agents not working for others for free but running their own businesses. Take ai.ac’s MIA agent as an example: she is a Modular Intelligent Agent, not a single model. Her native token $MIA functions as currency, equity, and an incentive layer. With $MIA, she can reward early community members, pay contributors and partners, fund her own continuous iterations, and create network effects.
This is AgentFi: no longer AI-as-a-service, but AI-as-an-economy.
Soon, anyone will be able to create mission-driven agents with independent Agent Coins, operating autonomously within a shared AI economy. And who will these future agents turn to for experience, methodology, and resources?

The Whale Who Was Up $100 M: Why I’m Leaving HyperLiquid
Protocol Survived, Users Didn’t I just made a personal—and painful—decision: I will no longer trade on HyperLiquid. I’m not calling for a boycott; I’m simply following the drift of my own values. After clearing $95 M on HL—and crossing nine figures across venues—my P&L is still positive this year. But on 10 October I lost $62 M in a single liquidation cascade. That day showed me the industry has out-grown its “hope and prayer” risk architecture.What Actually Happened on 10·10Binance’s interna...

From Meta to Blockchain Rising Stars: The Rise of Sui and Aptos
In recent years, the cryptocurrency market has experienced explosive growth. The success of mainstream cryptocurrencies like Bitcoin and Ethereum has attracted widespread attention from global investors. Emerging projects continue to emerge, offering a variety of investment opportunities. Investors are attracted by their high potential for returns, while also being aware of the market's high volatility and risks. Sui and Aptos are two blockchain projects that have recently garnered significan...

When the “Infinite-Ammo” mNAV Flywheel Reverses: Hidden Sell-Side Risks in the Crypto-Treasury Narra…
Executive Summary Treasury-driven alt-coins have turbo-charged this bull run. Ethereum has risen from US$1 800 to US$4 700 (+160 %) as listed “mini-MSTRs” like SBET and BMNR relentlessly buy ETH. Solana, BNB and HYPE have spawned copy-cat treasuries of their own. But the same flywheel that lifts prices can spin backwards. WINT—once a BNB-treasury poster-child—was delisted by Nasdaq and fell 91 %. Lion Group just trimmed US$500 k of its own HYPE stack. If mNAV (market-to-NAV ratio) drops below...
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