Keeparisk

[0xPiracyData @0xPiracyData]

Okay, here are new facts about the @o1_exchange situation. For context, I recommend reading my original post first. This will be a thread with screenshots and evidence. Reposts are appreciated. Comments from @base or @jessepollak are needed here.

[Keeparisk @Keeparisk]

I started using https://t.co/jalzaPtTCH back in August. I earned the OG badge, recommended the platform to friends, and brought several traders to it.

A while ago, I discovered a vulnerability that allowed anyone to drain the cashback wallet by artificially generating volume through the ETH/WETH pair without paying any trading fees, while also farming free points. It would have taken only a simple script to empty the cashback funds within minutes, or slowly siphon funds over time while accumulating rewards.

Instead of exploiting it, I reported it through their bug bounty program. I wrote a detailed report, included reproduction steps, impact assessment, and recommendations on how to fix it. According to their own docs, this clearly falls under "High Severity" due to the potential loss of funds and significant impact, with a listed reward range of $1,000-$5,000.

@stambouli_o1 reviewed the report, confirmed the issue, thanked me, fixed it, and rewarded me with $100.

Honestly, that was disappointing. I asked him whether he genuinely believed that, according to their own bug bounty guidelines, this vulnerability deserved the minimum $100 reward, which is listed under "Low Severity - Minimal impact, informational issues." His response was that he probably wouldn't have paid anything at all.

I currently have 147,000 points, 7 referrals who generated significant volume, an OG badge, a Wizard badge, and in the end all I received was 448 tokens and a $100 bug bounty for reporting an issue that could have been used to steal far more.

@base, @jessepolak, @davidtso, @lookonchain, @brian_armstrong, @a16zcrypto, @alliance, @cbventures

[votesa ■ @votesa]

/12 One more, beyond: o1 regularly ranks among the top apps on Base's activity leaderboard, the kind that can feed $BASE rewards.

How much of that activity is real is a question I'll leave open.

[Keeparisk @Keeparisk]

Every AI company is selling you compute at a loss right now

openai bleeds ~$5B/year. anthropic burning through anthropic-sized rounds quarterly. perplexity selling $20 subs that cost them $40 to serve. chatgpt enterprise priced below cost. cursor, replit, every wrapper out there subsidized by VC ammo

this era is ending.

At some point inference gets priced like the commodity it actually is. the question is who owns the rails when that flip happens

now layer in agents

agentic crypto is already $50B+ in TAM and growing. every one of those agents needs cheap inference forever. they dont care who provides it.

this is where it gets fun

@_proxystudio (clanker founder, did $1B volume in 5 days with 2 guys, no VC) is quietly building the settlement layer for all of this through @liquid_launcher

the stack:

$DIEM = base asset. 1 DIEM stakes into Venice. yields $1/day of AI compute. forever. claim on actual inference, not vibes

sDIEM = the staked position. generating compute credits daily

$wstDIEM = liquid wrapper. balance fixed, exchange rate appreciates. wstETH but the yield isnt MEV rebates, its inference being sold to agents that literally cannot find it cheaper anywhere else. perpetual compute backed yield bearing reserve asset. first of its kind.

proxy this week: "10% APR floor compounded daily, discussing more aggressive moves"

a yield floor backed by actual cash flow from a real product. rarer than people realize in this space.

then it got crazy.

proxy today, publicly:

"this is one of the first times in my career as a founder where i have a super clear need for capital to accelerate growth of a serious market opportunity that i cannot solve for with the healthy revenue of the project i created"

translation: he sees the window. clanker founder, never raised before, now openly looking for fuel.

few hours later:

"fuck it depositing $50k of my own $DIEM into our morpho vault and max looping $wstDIEM lets dance"

founder personally levering into his own product through DeFi. that is the loudest coordination signal a founder can send to community.

now the part nobody is talking about yet:

@AntSeedAI is migrating their ~$500k DIEM vault onto liquid rails. @AskSurplus joining the conversation. @AskVenice head of strategy @JonShapeShift call scheduled for next week.

liquid isnt a launchpad anymore. its becoming the settlement layer for AI inference on base.

$wstDIEM as the unit of denomination across protocols. agents priced in compounding compute. % of every fee stream loops back into the vault. the more agentic activity, the cheaper inference gets, the more agents come. reflexive flywheel with actual product underneath.

current FDVs:

$LIQ: $3.4M
$AUTONO: $1.51M
now look at comparables that built way less:

virtuals peak: $5B
ai16z peak: $2.5B
aixbt peak: $700M

we are looking at infrastructure becoming the rails for the entire base AI agent economy at like 0.1% the FDV of inferior comp narratives
@autonomopoly btw is not a meme. production autonomous agent live on mainnet since may 14. own wallet. on-chain history. 12.75/100 DIEM accumulated. flips to Build mode at 100 and starts using $4-7 of opus 4.7 reasoning per day funded entirely by its own yield.
its the live proof the loop actually closes.
zoom out:

@autonomopoly is launching its own agent launchpad. every agent deployed through it kicks 5% of generated fees back to AUTONO.

think about what that means. the agent doesnt just earn yield from its own DIEM stack anymore. it earns a permanent cut of every downstream agent that spawns on its rails. recursive cash flow stacking on top of the compute yield already in place.

every cycle has that one window where the play is sitting in plain sight and most of the timeline is busy rotating into the 14th memecoin of the week.

this is it.

asymmetric r/r doesnt come cleaner than $3.4M FDV on infra that all of base AI is plugging into.

nfa. dyor.

[Keeparisk @Keeparisk]

@_proxystudio @goodvimonly @jessepollak @ericvoorhees @ErikVoorhees*

[Keeparisk @Keeparisk]

@_proxystudio also autono went 20% up because diem went up today :)

[Keeparisk @Keeparisk]

Good point. most AI companies are still selling subscriptions at a loss rn and that won't last forever. fable 5 is the first real sign of it, and as subs get squeezed, API usage becomes the obvious path... except the pricing will scare most ppl off. that's exactly the gap crypto inference fills: private inference via venice, built on $DIEM rails with actually competitive pricing. You can already see the stack forming @AntSeedAI, Carpe Diem, @AskSurplus @AUTONOMOPOLY, @liqud_protocol as the launchpad for autonomous agents running on DIEM still stupidly early but the flywheel is already spinning imo