InfoFi Trinity "Mouth-Looting" Guide: Kaito, Cookie, and Galxe
Over the past week, the cryptocurrency market has been sluggish, but "mouth-looting" has gained attention as a new way to participate. This article focuses on the three major "mouth-looting" projects: Kaito, Cookie, and Galxe. In the past week, the market has been in a tug-of-war, with the overall cryptocurrency market falling into a slump. Both price performance and community discussion热度 have been as stagnant as a dead pool. However, in this silence, a new way of participation has increasin...
The Quiet End of an Era: How Wallets Lost the Battle for Traffic to CEXs
An era has quietly come to an end. Wallets, as standalone products, seem to have reached their twilight. Struggling with profitability, they are increasingly being acquired or integrated by centralized exchanges (CEXs) or traditional fintech giants, becoming mere components of larger ecosystems—such as stablecoin payments—rather than the focal point of industry development.The Decline of Standalone WalletsFor entrepreneurs in the space, persistence has become a virtue in itself. The goal? Sur...
Impact of SynFutures' Entry into AI Agents
From SynFutures to AI Agents: A New Era for DeFAI The product form of AI Agents is more suited to appear as embedded service middleware, which helps to bring the trading experience back to the simplicity and intuitiveness of Web2. The revival of the AI Agent track will not be driven by "CA engineers" who excel in performance, but by "product engineers" who focus on practical implementation. In the midst of a market sentiment storm caused by the collective failure of on-chain PVP leaders and t...
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InfoFi Trinity "Mouth-Looting" Guide: Kaito, Cookie, and Galxe
Over the past week, the cryptocurrency market has been sluggish, but "mouth-looting" has gained attention as a new way to participate. This article focuses on the three major "mouth-looting" projects: Kaito, Cookie, and Galxe. In the past week, the market has been in a tug-of-war, with the overall cryptocurrency market falling into a slump. Both price performance and community discussion热度 have been as stagnant as a dead pool. However, in this silence, a new way of participation has increasin...
The Quiet End of an Era: How Wallets Lost the Battle for Traffic to CEXs
An era has quietly come to an end. Wallets, as standalone products, seem to have reached their twilight. Struggling with profitability, they are increasingly being acquired or integrated by centralized exchanges (CEXs) or traditional fintech giants, becoming mere components of larger ecosystems—such as stablecoin payments—rather than the focal point of industry development.The Decline of Standalone WalletsFor entrepreneurs in the space, persistence has become a virtue in itself. The goal? Sur...
Impact of SynFutures' Entry into AI Agents
From SynFutures to AI Agents: A New Era for DeFAI The product form of AI Agents is more suited to appear as embedded service middleware, which helps to bring the trading experience back to the simplicity and intuitiveness of Web2. The revival of the AI Agent track will not be driven by "CA engineers" who excel in performance, but by "product engineers" who focus on practical implementation. In the midst of a market sentiment storm caused by the collective failure of on-chain PVP leaders and t...
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With participants like Maitrix building stablecoin infrastructure for top AI ecosystems, more value created by AI will become more composable and flow more rapidly into DeFi, thereby enhancing the value capture capability of the entire Web3 ecosystem.
Stablecoins: The Cornerstone of the Crypto World
Stablecoins are the most important infrastructure in the crypto space. Without stablecoins, we would lack a stable unit of account for investors to temporarily store assets (building centralized exchanges, decentralized exchanges, perpetual contracts, money markets, and all other verticals would become extremely difficult).
The Rapid Popularization of Stablecoins
Stablecoins are experiencing a period of rapid adoption. From 2023 to 2025, the total supply, trading volume, and velocity (referring to the frequency of stablecoin exchanges) of stablecoins have all surged, especially in the fields of payment and cross-border transactions.
Moreover, we are seeing clearer regulatory frameworks and further adoption of stablecoins by institutions: for example, payment company Stripe has launched stablecoin financial accounts in 101 countries worldwide; Société Générale plans to issue a U.S. dollar stablecoin; major banks such as Bank of America, JPMorgan Chase, Citigroup, and Wells Fargo are planning to jointly issue stablecoins; several large corporations are exploring the use of stablecoins for payments to reduce transaction fees from Visa and Mastercard; and more related developments.
The recent successful initial public offering of Circle has also sparked a new wave of stablecoin enthusiasm, bringing more stakeholders into the fold.
AI-Driven Stablecoin Innovation
As traditional finance delves deeper into applications, stablecoin innovation in the field of artificial intelligence is also advancing, aiming to address the challenges faced by service providers and users in the Web3 AI ecosystem.
Challenge One: Focus on AI Product Development Over DeFi
Although AI teams typically design AI tokens as core components of AI ecosystems (covering payments, governance, utility, etc.), they tend to concentrate resources on AI product development rather than the decentralized finance space.
For example:
Virtuals uses their VIRTUAL and AGENT liquidity pools, which helps accumulate value for their VIRTUAL token but makes it difficult for the Agent team and LPs to provide liquidity (due to impermanent loss issues).
Aethir uses $ATH as a payment method for computing services, creating a strong flywheel effect for the token but also introducing price volatility in the unit of payment.
Bittensor pays miners, validators, and subnet owners with dTAO (subnet tokens) → participants must sell subnet tokens for stablecoins to maintain operational funds.
While these examples can serve as good flywheels for AI tokens, they also hinder some key participants from engaging, as the designs themselves can cause market fluctuations.
(Incidentally, these three examples are among the better ones; many AI teams have poorly designed tokens, especially those "fair launched" projects.)
The growth in token numbers, coupled with suboptimal designs, leads to thin market liquidity, making it difficult for DeFi ecosystem applications to be built on top of them.
Projects Addressing This Challenge
Maitrix: The AI Stablecoin Layer
Maitrix introduces over-collateralized AI-native stablecoins (AI USD) for various ecosystems, transforming the originally volatile (but high-yield) AI economy into a predictable, composable, and vibrant economic system through AI-native stablecoins.
Key Components of Maitrix
Users mint and burn AI USD by depositing AI tokens and their derivatives (liquid staking or staked AI tokens) into Collateralized Debt Positions (CDPs).
Stablecoin launch platform: AI projects can create their own AI stablecoins using native tokens and derivatives.
Curve ve(3,3) - inspired incentives: The MAITRIX token implements governance and directs token emission through a voting escrow mechanism (ve) and employs a bribery system similar to the ve(3,3) mechanism.
Automated market-making model for stablecoin exchanges: Supports the exchange of various AI USD tokens.
Supported AI USD Stablecoin Assets (to date)
Aethir USD (AUSD): A stable payment solution for computing services.
Vana USD (VanaUSD): A data-backed stablecoin.
Virtual USD (vUSD).
ai16z USD (ai16zUSD).
0G USD (0USD).
Nillion USD.
More participants can be discussed later.
There is currently not much detailed documentation on each AI stablecoin use case.
I will elaborate on the technical details once the technical white paper is released, but for now, Maitrix is the only team building this financial infrastructure layer for AI projects and has already established key partnerships with several top AI ecosystems.
The Maitrix testnet has received enthusiastic feedback, and the mainnet launch is imminent.
Challenge Two: Financing for Computational Resources
As AI continues to evolve and gain widespread application, the demand for computational resources is increasing day by day. Data centers and cloud service operators need to plan resource expansion strategies in advance in order to seize the market opportunities of the future.
Enterprise - grade GPUs (such as NVIDIA H100 / H200) are often expensive and require large - scale financing. Traditional financing methods (such as bank loans or equity financing) have lengthy and complex processes, making it difficult for data centers to quickly expand to meet market demand.
This is where Gaib and USDAI come into play.
Projects Addressing This Challenge
Gaib: The First AI and Computational Resource Economy Layer
Gaib helps data centers finance efficiently by tokenizing future GPU cash flows, while providing investors with income - generating assets backed by real - world assets (GPUs).
How It Works:
Cloud service providers and data centers package future GPU revenue cash flows as securitized financial products.
These cash flows are tokenized for a period of 6 to 12 months.
Investors purchase these tokens and begin claiming regular rewards.
They call this AI - backed synthetic dollar "AID."
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
Each AID token is backed by an investment portfolio of GPU - financed transactions and is collateralized with Treasury bonds or other liquid assets as reserves.
The floating yield is estimated to be around 40% per annum. This highly depends on the proportion of debt financing and equity transactions in the GPU portfolio (equity returns are 60 - 80% + per annum, while debt returns are 10 - 20% per annum).
So far, the project has accumulated a total locked value of about $22 million, and it incentivizes users to deposit through "Spice" points, which will qualify investors for future airdrop rewards.
Earlier this year, Gaib partnered with Aethir to conduct the first GPU tokenization pilot project.
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
This pilot project is only a GPU tokenization and fragmentation solution, part of its roadmap, which will later expand to GPU - backed stablecoins "AID."
If you are curious about how the protocol works and the pegging mechanism and want to learn more, it is recommended to check out their Gitbook documentation.
USDAI (by Permian Labs): A Yield - Generating Synthetic Stablecoin Backed by Real - World Assets
USDAI is somewhat similar to Gaib but also different in that it is a stablecoin backed by hardware assets as loan collateral (including GPUs, telecom equipment, solar panels, etc.).
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
Here we are talking about pure debt - financing transactions: borrowers (asset holders) obtain loans from USDAI and pay interest, and the interest - generating returns will belong to USDAI token holders.
Permian Labs is the team behind the metastreet project, a top - tier structured credit market platform that offers innovative financial services such as NFT - backed loans, structured credit products for illiquid assets and real - world assets (such as luxury watches, art), and NFT yield - token splitting solutions similar to Pendle PT YT.
USDAI has not yet launched, but its target is to offer a yield of 15 - 25% per annum, with asset allocation gradually shifting through three stages: initially 100% invested in U.S. Treasury bills, eventually transitioning to 100% allocation to physical hardware assets. (Note: Based on domain knowledge, "hardware" in the crypto space may refer to physical assets such as mining machines, and specific confirmation should be made in conjunction with the project white paper.)
USDAI employs CALIBER technology, which simplifies the loan and issuance process while complying with legal standards, ultimately enabling the on - chain operation of GPUs.
For more information on USDAI from Delphi Digital,
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
Let's clarify the differences between the two: USDAI focuses on debt - class assets and offers a more diversified range of asset types. With its CALIBER model, they can cover a wide range of applications (no matter where the demand is), while Gaib focuses more on equity - class assets and offers higher expected yields.
The private beta version of USDAI has officially launched, with an initial locked value of $10 million.
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
If you are interested in becoming one of the first participants, you can fill out a form (they will offer additional incentives for early participants).
Other AI - Related Stablecoin Products
Almanak recently launched alUSD (based on the ERC - 7540 standard, an extension of ERC - 4626). This is a tokenized AI yield - optimization strategy that maximizes risk - adjusted returns by investing stablecoins on platforms such as Aave, Compound, Curve, and Yearn.
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
The Almanak team is about to launch a points campaign to introduce initial liquidity while continuously advancing DeFi composability. In the future, users will be able to use alUSD as collateral or for leveraged lending to maximize returns.
AixFi, interstable: This is a DeFi protocol vault that automatically deploys USDC assets. Initially, it will operate in a rule - driven mode, gradually introducing AI - based decision - making mechanisms, and is scheduled to officially launch on the Virtuals platform this month.
What's Next?
We may very well witness the rise of another protocol like Ethena, which focuses on using GPU computing power to generate high yields for users' stablecoins. But more crucially, how will the protocol maintain its pegging mechanism to ensure that the price quickly returns to the $1 value benchmark in the event of a crisis?
In the future, we may see more tokenized AI strategies. We have already witnessed AI's remarkable ability to optimize yields, dynamically calculating variables such as gas fees, rebalancing costs, and slippage (as shown in Giza's ARMA strategy). If these strategies are tokenized into highly composable vaults, they can be used as collateral or leveraged 5 - 10 times to generate returns, opening up a vast realm of possibilities.
We will see enhanced liquidity within the Web3 AI ecosystem. As participants like Maitrix build stablecoin infrastructure for top AI ecosystems, more value created by AI will become more composable and flow more rapidly into DeFi, thereby enhancing the value capture capability of the entire Web3 ecosystem.
While these teams are very interesting, in the stablecoin space, risk, peg management, redemption, and liquidation mechanisms are crucial. Be sure to thoroughly read and understand all risk factors before deciding to invest.
With participants like Maitrix building stablecoin infrastructure for top AI ecosystems, more value created by AI will become more composable and flow more rapidly into DeFi, thereby enhancing the value capture capability of the entire Web3 ecosystem.
Stablecoins: The Cornerstone of the Crypto World
Stablecoins are the most important infrastructure in the crypto space. Without stablecoins, we would lack a stable unit of account for investors to temporarily store assets (building centralized exchanges, decentralized exchanges, perpetual contracts, money markets, and all other verticals would become extremely difficult).
The Rapid Popularization of Stablecoins
Stablecoins are experiencing a period of rapid adoption. From 2023 to 2025, the total supply, trading volume, and velocity (referring to the frequency of stablecoin exchanges) of stablecoins have all surged, especially in the fields of payment and cross-border transactions.
Moreover, we are seeing clearer regulatory frameworks and further adoption of stablecoins by institutions: for example, payment company Stripe has launched stablecoin financial accounts in 101 countries worldwide; Société Générale plans to issue a U.S. dollar stablecoin; major banks such as Bank of America, JPMorgan Chase, Citigroup, and Wells Fargo are planning to jointly issue stablecoins; several large corporations are exploring the use of stablecoins for payments to reduce transaction fees from Visa and Mastercard; and more related developments.
The recent successful initial public offering of Circle has also sparked a new wave of stablecoin enthusiasm, bringing more stakeholders into the fold.
AI-Driven Stablecoin Innovation
As traditional finance delves deeper into applications, stablecoin innovation in the field of artificial intelligence is also advancing, aiming to address the challenges faced by service providers and users in the Web3 AI ecosystem.
Challenge One: Focus on AI Product Development Over DeFi
Although AI teams typically design AI tokens as core components of AI ecosystems (covering payments, governance, utility, etc.), they tend to concentrate resources on AI product development rather than the decentralized finance space.
For example:
Virtuals uses their VIRTUAL and AGENT liquidity pools, which helps accumulate value for their VIRTUAL token but makes it difficult for the Agent team and LPs to provide liquidity (due to impermanent loss issues).
Aethir uses $ATH as a payment method for computing services, creating a strong flywheel effect for the token but also introducing price volatility in the unit of payment.
Bittensor pays miners, validators, and subnet owners with dTAO (subnet tokens) → participants must sell subnet tokens for stablecoins to maintain operational funds.
While these examples can serve as good flywheels for AI tokens, they also hinder some key participants from engaging, as the designs themselves can cause market fluctuations.
(Incidentally, these three examples are among the better ones; many AI teams have poorly designed tokens, especially those "fair launched" projects.)
The growth in token numbers, coupled with suboptimal designs, leads to thin market liquidity, making it difficult for DeFi ecosystem applications to be built on top of them.
Projects Addressing This Challenge
Maitrix: The AI Stablecoin Layer
Maitrix introduces over-collateralized AI-native stablecoins (AI USD) for various ecosystems, transforming the originally volatile (but high-yield) AI economy into a predictable, composable, and vibrant economic system through AI-native stablecoins.
Key Components of Maitrix
Users mint and burn AI USD by depositing AI tokens and their derivatives (liquid staking or staked AI tokens) into Collateralized Debt Positions (CDPs).
Stablecoin launch platform: AI projects can create their own AI stablecoins using native tokens and derivatives.
Curve ve(3,3) - inspired incentives: The MAITRIX token implements governance and directs token emission through a voting escrow mechanism (ve) and employs a bribery system similar to the ve(3,3) mechanism.
Automated market-making model for stablecoin exchanges: Supports the exchange of various AI USD tokens.
Supported AI USD Stablecoin Assets (to date)
Aethir USD (AUSD): A stable payment solution for computing services.
Vana USD (VanaUSD): A data-backed stablecoin.
Virtual USD (vUSD).
ai16z USD (ai16zUSD).
0G USD (0USD).
Nillion USD.
More participants can be discussed later.
There is currently not much detailed documentation on each AI stablecoin use case.
I will elaborate on the technical details once the technical white paper is released, but for now, Maitrix is the only team building this financial infrastructure layer for AI projects and has already established key partnerships with several top AI ecosystems.
The Maitrix testnet has received enthusiastic feedback, and the mainnet launch is imminent.
Challenge Two: Financing for Computational Resources
As AI continues to evolve and gain widespread application, the demand for computational resources is increasing day by day. Data centers and cloud service operators need to plan resource expansion strategies in advance in order to seize the market opportunities of the future.
Enterprise - grade GPUs (such as NVIDIA H100 / H200) are often expensive and require large - scale financing. Traditional financing methods (such as bank loans or equity financing) have lengthy and complex processes, making it difficult for data centers to quickly expand to meet market demand.
This is where Gaib and USDAI come into play.
Projects Addressing This Challenge
Gaib: The First AI and Computational Resource Economy Layer
Gaib helps data centers finance efficiently by tokenizing future GPU cash flows, while providing investors with income - generating assets backed by real - world assets (GPUs).
How It Works:
Cloud service providers and data centers package future GPU revenue cash flows as securitized financial products.
These cash flows are tokenized for a period of 6 to 12 months.
Investors purchase these tokens and begin claiming regular rewards.
They call this AI - backed synthetic dollar "AID."
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
Each AID token is backed by an investment portfolio of GPU - financed transactions and is collateralized with Treasury bonds or other liquid assets as reserves.
The floating yield is estimated to be around 40% per annum. This highly depends on the proportion of debt financing and equity transactions in the GPU portfolio (equity returns are 60 - 80% + per annum, while debt returns are 10 - 20% per annum).
So far, the project has accumulated a total locked value of about $22 million, and it incentivizes users to deposit through "Spice" points, which will qualify investors for future airdrop rewards.
Earlier this year, Gaib partnered with Aethir to conduct the first GPU tokenization pilot project.
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
This pilot project is only a GPU tokenization and fragmentation solution, part of its roadmap, which will later expand to GPU - backed stablecoins "AID."
If you are curious about how the protocol works and the pegging mechanism and want to learn more, it is recommended to check out their Gitbook documentation.
USDAI (by Permian Labs): A Yield - Generating Synthetic Stablecoin Backed by Real - World Assets
USDAI is somewhat similar to Gaib but also different in that it is a stablecoin backed by hardware assets as loan collateral (including GPUs, telecom equipment, solar panels, etc.).
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
Here we are talking about pure debt - financing transactions: borrowers (asset holders) obtain loans from USDAI and pay interest, and the interest - generating returns will belong to USDAI token holders.
Permian Labs is the team behind the metastreet project, a top - tier structured credit market platform that offers innovative financial services such as NFT - backed loans, structured credit products for illiquid assets and real - world assets (such as luxury watches, art), and NFT yield - token splitting solutions similar to Pendle PT YT.
USDAI has not yet launched, but its target is to offer a yield of 15 - 25% per annum, with asset allocation gradually shifting through three stages: initially 100% invested in U.S. Treasury bills, eventually transitioning to 100% allocation to physical hardware assets. (Note: Based on domain knowledge, "hardware" in the crypto space may refer to physical assets such as mining machines, and specific confirmation should be made in conjunction with the project white paper.)
USDAI employs CALIBER technology, which simplifies the loan and issuance process while complying with legal standards, ultimately enabling the on - chain operation of GPUs.
For more information on USDAI from Delphi Digital,
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
Let's clarify the differences between the two: USDAI focuses on debt - class assets and offers a more diversified range of asset types. With its CALIBER model, they can cover a wide range of applications (no matter where the demand is), while Gaib focuses more on equity - class assets and offers higher expected yields.
The private beta version of USDAI has officially launched, with an initial locked value of $10 million.
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
If you are interested in becoming one of the first participants, you can fill out a form (they will offer additional incentives for early participants).
Other AI - Related Stablecoin Products
Almanak recently launched alUSD (based on the ERC - 7540 standard, an extension of ERC - 4626). This is a tokenized AI yield - optimization strategy that maximizes risk - adjusted returns by investing stablecoins on platforms such as Aave, Compound, Curve, and Yearn.
Building the Cornerstone of the AI Economy: How AI is Reshaping the Stablecoin Landscape
The Almanak team is about to launch a points campaign to introduce initial liquidity while continuously advancing DeFi composability. In the future, users will be able to use alUSD as collateral or for leveraged lending to maximize returns.
AixFi, interstable: This is a DeFi protocol vault that automatically deploys USDC assets. Initially, it will operate in a rule - driven mode, gradually introducing AI - based decision - making mechanisms, and is scheduled to officially launch on the Virtuals platform this month.
What's Next?
We may very well witness the rise of another protocol like Ethena, which focuses on using GPU computing power to generate high yields for users' stablecoins. But more crucially, how will the protocol maintain its pegging mechanism to ensure that the price quickly returns to the $1 value benchmark in the event of a crisis?
In the future, we may see more tokenized AI strategies. We have already witnessed AI's remarkable ability to optimize yields, dynamically calculating variables such as gas fees, rebalancing costs, and slippage (as shown in Giza's ARMA strategy). If these strategies are tokenized into highly composable vaults, they can be used as collateral or leveraged 5 - 10 times to generate returns, opening up a vast realm of possibilities.
We will see enhanced liquidity within the Web3 AI ecosystem. As participants like Maitrix build stablecoin infrastructure for top AI ecosystems, more value created by AI will become more composable and flow more rapidly into DeFi, thereby enhancing the value capture capability of the entire Web3 ecosystem.
While these teams are very interesting, in the stablecoin space, risk, peg management, redemption, and liquidation mechanisms are crucial. Be sure to thoroughly read and understand all risk factors before deciding to invest.
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