Author: 0xJeff, AI investor
Compiled by: Ismay, BlockBeats
Do you remember the L2 craze of 2022-2023?
At that time, the best strategy was to hoard leading DEXs, top lending markets, Solidly fork projects, LSTs, yield optimizers, etc. Everyone was chasing token issuance, participating in airdrops, or injecting TVL into L2 platforms like Blast to earn points.
That period was chaotic, but it did work (at least for a few months).
Today, the same enthusiasm is emerging again, but this time, the rules have completely changed.
The Agent ecosystem is reshaping our perception of the market, with a structure completely different from the past.
No VC dominance
In the L2 era, token distribution always follows a fixed formula:
Teams hold 15-30%, VCs and KOLs hold 10-30%, with the remainder allocated for incentives and rewards.
But in the Agent ecosystem, the situation is completely different. Tokens are 100% owned by the community, with teams possibly reserving 5% for incentives, and the rest is allowed to circulate freely in the market.
What does this mean?
Everyone has an equal opportunity to participate in purchases, no longer needing to worry about VC unlocks or insider selling risks. If you want exposure, you need to take on the same market risks as others.
What about KOL's OTC trading rounds?
Some projects do offer discounted OTC trades, but generally:
Scale is strictly limited;
Priority allocation to partners that are highly aligned with the ecosystem, such as DAOs or influencers who actively support ecosystem development.
This is no longer the model of 'VC lifting the sedan, retail investors taking over'; it is a fairer, more streamlined system that truly puts power in the hands of the community.
No trend of 'copy and paste'
At least not like in the DeFi space, where various projects from Uniswap to Liquity have been repeatedly forked with almost no innovation.
Here, everything revolves around brand new innovations. Developers do not simply replicate existing projects but launch entirely new Agents and new application scenarios at an astonishing pace.
Why is this happening?
The iteration speed of AI applications is faster:
No need to spend months on audits;
Most Agents' launch timelines are measured in weeks rather than months;
The entire field is full of vitality, experimentation, and creativity.
There is something exciting almost every week, and as AI technology continues to evolve, the narrative of Web3 AI Agents is also continuously evolving.
Brand new user acquisition models
In traditional DeFi, users need to:
Find the project's website;
Take time to understand the product;
Perhaps interact with the product.
And Agents completely overturn this approach, presenting products directly to users.
Take @aixbt_agent as an example; it provides valuable information in real-time directly on CT (Crypto Twitter). Users immediately feel the value, generate interest, and further explore. Ultimately, they will purchase tokens to fully unlock product features.
This 'interact first, trade later' funnel model is more effective. As on-chain trading Agents and DeFi Agents become more prevalent, this model is expected to dominate before 2025.
Highly curated ecosystems
No longer thousands of fragmented L2s and dApps, but tightly connected ecosystems like the following:
@virtuals_io（Base）
@ai16zdao（Solana）
@daosdotworld（Base）
@daosdotfun（Solana）
What's different?
Developers are no longer attracted by subsidies or incentive mechanisms; they are naturally flowing in because there are:
Fairly launched token economic models;
Enthusiastic community;
Opportunities to experiment and innovate in an exciting field.
This is the result of combining fair launches with continuous innovation. Developers, investors, and the community jointly drive the growth and development of the ecosystem.
How to position yourself in this Agent cycle
This feels like the early days of L1—only much faster. Looking back at 2020-2021, many L1s reached peak valuations of over $100 billion. The same potential exists here.
If you want to position yourself, you can follow the following Agent-related L1s:
$VIRTUAL
$AI16Z
$ZEREBRO
$GRIFFAIN
$BULLY
$ARC
But don't just chase the current hot projects. Look for:
Undervalued opportunities outside the current narrative scope;
Teams that advance quickly, are good at storytelling, and can build market recognition.
If you want to learn more, you can refer to this guide:
Welcome to the new era
The Agent ecosystem is not just a new L1; it is a completely different market structure—faster, more streamlined, and more community-driven than ever before.
We are entering a phase that may reshape how Web3 innovation operates, and the journey toward valuations exceeding $100 billion has just begun.
Welcome aboard, friends, this will be an exciting journey!
