浅析构建 AI Agent 经济的身份与支付标准层ACK（Agent Commerce Kit），打造链上固定利率信用市场的底层基础设施Morpho。

Mobius Exchange致力于DeFi主经纪商层，通过统一保证金和跨平台杠杆提升资本效率；Aivive构建递归式AI协议，将AI产品收入用于代币回购销毁，形成使用驱动通缩闭环。

An in-depth look at Houdini Swap, a cross-chain privacy network for seamless anonymous asset transfers, and Axis, a synthetic dollar protocol that generates yield through cross-asset arbitrage.

An in-depth look at Jia, an on-chain credit network connecting global capital with real-world yields in emerging markets, and Manadia, a verifiable collaboration network driven by AI and privacy computing.

Detailed explanation of the open settlement protocol Cycles, which raised $6.4 million with participation from Coinbase, and the cross-chain settlement infrastructure Pheasant Network, which rebuilds cross-chain settlement with extreme capital efficiency.

RWA與穩定幣繼續成為核心主線，尤其是國債、貨幣市場基金與黃金類代幣化資產的機構採用提升，推動「鏈上真實收益資產」敘事強化；DeFi方面聚焦收益優化與風險重構（如結構化收益、跨鏈流動性、機構級借貸），而跨鏈基礎設施與Intent類協議持續優化執行效率；同時，AI × Crypto（Agent、支付、自動化交易）繼續升溫，但更多停留在基礎設施與標準協議層探索；

DAO Kraft has completed a $3.4 million funding round, positioning itself as a modular DAO infrastructure platform for decentralized governance and on-chain collaboration, aiming to improve DAO proposal quality and decision-making efficiency through intelligent governance tools; ARC has raised a total of $222 million, led by a16z, with support from top institutions such as BlackRock, SBI Holdings, and IDG Capital, positioning itself as a modular intelligent agent infrastructure for AI Agent collaboration and on-chain autonomous ecosystems