Virtual Agent Protocol: The Transformation from Game Remnants to AI Agent Platform

In June 2025, the crypto world witnessed a feast of wealth transfer: the new project IRIS made its debut with an initial market value of $200,000 through a smart agent release platform, and after being listed on exchanges, its market value skyrocketed to $80 million, setting a new industry record with a 400-fold increase. This performance far exceeded previous records, making the gains of other ecosystems pale in comparison. As the driving force behind this myth, the platform token achieved a 400% increase within six months, with its market value peak surpassing $5 billion. Today, the platform has become the largest AI smart agent launch platform in a certain network. However, behind this carnival lies an experiment in wealth distribution based on contribution rules, quietly reshaping the speculative logic and value order of the crypto market.

01, Rebirth from the Ashes: From Game Guild to AI Intelligent Agent Platform

A certain protocol is a decentralized platform deployed on the Ethereum Layer-2 network, dedicated to pioneering an on-chain AI agent economy, allowing users to easily create, jointly own, and monetize autonomous AI roles. Its predecessor was a gaming guild established in Malaysia in 2021. The guild initially focused on Play-to-Earn projects and the NFT community, successfully financing approximately $16 million through precise layouts in multiple popular projects, with a valuation once approaching $600 million, accumulating rich gaming assets and an active player community. However, the bear market in 2022 severely impacted GameFi, causing the guild's token price to plummet by nearly 99%, with its market value shrinking to less than $6 million. The team's attempts at multiple business lines all failed, leaving the project on the brink of being shelved.

By the end of 2023, the generative AI craze swept the globe, and the concept of AI agents became a new trend in the crypto space. The community voted on-chain through DAO (with a support rate of up to 90%) to completely transform into an AI-driven protocol and rebranded itself, shifting its core strategy to "monetizing and tokenizing AI agents and empowering the community." This transformation is based on profound insights: the team discovered that the Japanese virtual streamer market is enormous, but creators only receive a small portion of the revenue; at the same time, experiments on a certain platform have proven that AI-driven NPCs can significantly increase player retention rates. This data directly led to the platform's positioning of "profitable AI personas."

In October 2024, the protocol launched on the mainnet and introduced the first multimodal AI agent—virtual idol Luna. Luna integrates technologies such as text generation, 3D motion, voice synthesis, and smart contract wallets, enabling it to autonomously raise operational funds and distribute rewards to fans. After going live, Luna rapidly gained 500,000 fans on social media, with monthly income reaching 1.2 million dollars solely from fan tips, successfully validating the business model and technical feasibility of on-chain AI agents. Its demonstration effect attracted a large number of developers' attention to the project itself.

Riding on the success of projects like Luna, the protocol is set to launch its core token on multiple platforms by the end of 2024. Its price skyrocketed from a few cents to a historical high of $5.15, with a market capitalization briefly surpassing $5 billion, far exceeding most Layer-2 and DeFi projects during the same period, marking the protocol's entry into the mainstream crypto market. The platform's unique "low barrier, high incentive" mechanism is highly attractive: users only need to stake a small amount of tokens to create new AI agents and automatically generate liquidity pools locked for 10 years; once the market value of the tokens reaches a certain scale, the system will release a liquidity layer on the DEX, ensuring trading depth and price stability. This model significantly lowers the participation threshold and stimulates enthusiasm for ecological development.

By June 2025, the ecosystem has demonstrated significant scale and economic effects: the cumulative number of AI agents incubated has exceeded 11,000, covering diverse scenarios such as virtual idols, trading advisors, game engines, and content incubation. The platform has nurtured over 80% of the AI agents on its chain, and its generative multimodal agent framework has also become a popular choice for agents in the Web3 gaming and metaverse sectors. However, the platform's vision goes far beyond becoming the leader in AI agent issuance. Its white paper clearly states that the ultimate goal is to build a true "AI Sovereign Society." Therefore, attracting more ecosystem members to join will be key to achieving this grand goal and will be a major focus of its development for a long time to come.

02, Innovative Issuance Model: Creating a New Paradigm for AI Asset Issuance

To attract more user attention, the platform has innovatively introduced a new mechanism for issuing AI agent tokens. Unlike traditional linear airdrops or fixed distributions, the new mechanism is based on the concept of "contribution points," emphasizing participation and contribution rather than pure speculation. Once this mechanism was launched, it quickly became a sensation across the internet, and the platform's new token offerings have become a new holy land for speculators eager to participate, with even seasoned participants discussing how it might replace the once-popular "Alpha airdrop" model. Compared to traditional airdrops that distribute tokens all at once, which users often sell immediately, the new mechanism emphasizes "contribution equals distribution," allowing everyone an opportunity to participate in the new token subscription based on real contributions. Almost every day in the platform's official community, members can be seen sharing screenshots of their earnings from participating in new token offerings with points, showcasing the transparent rules and thresholds that have completely overturned the situation where "big players seize opportunities while retail investors are left out."

Taking IRIS as an example, the project launched its presale in mid-May, locking in over 120 million points in less than 24 hours, with an oversubscription rate of 1500%. Tens of thousands of users shared 37.5% of the community's share. On the day of listing, the market value of IRIS skyrocketed from $200,000 to $80 million, an increase of over 400 times, setting a new industry record for AI Agent issuance and instantly overshadowing the previously popular projects in other ecosystems.

The reason the new mechanism can quickly gain popularity lies in its construction of a "incentive-contribution-return" closed loop. First, users can earn basic points by staking tokens or holding popular AI Agent tokens within the ecosystem; secondly, users can also accumulate more points by participating in social promotion, trading on the platform, or staking tokens from other projects. In this way, whether you are a technical novice or an experienced trader, you can find a suitable way to contribute through financial investment or content promotion, greatly stimulating community activity and innovation.

In stark contrast, traditional airdrops often rely solely on token snapshots or completing complex tasks, and most users sell the tokens they receive on the same day. According to a data platform, over 90% of airdrop tokens experience a price drop within 15 days of issuance, with a retention rate of less than 12% after three months. The new mechanism employs a points locking + punitive cooling mechanism: if the newly acquired tokens are sold within 24 hours after unlocking, it will trigger a 10-day points reset, significantly curbing the arbitrage behavior of "wool-pulling" participants and encouraging participants to hold long-term and contribute continuously.

At the same time, the platform provides ample liquidity support for the listing of new tokens. Each AgentToken is paired with a certain amount of tokens or stablecoins injected into the liquidity pool before the opening to ensure that there is no awkward situation of "unable to buy" or "unable to sell" on exchanges or DEXs. To prevent large holders or bots from capturing a significant share through multi-wallet knife-style layouts, the new mechanism sets a limit of no more than 0.5% of the total issuance for each address, and employs an on-chain randomization algorithm for further balanced distribution, ensuring that small and medium users can also reap considerable shares.

The success of the new token issuance model on this platform is not only attributed to the popularity of new token launches but also to the "old driving new" effect of ecosystem tokens. Since the large-scale launch of the new mechanism, the trading volume and price of platform tokens have been rising steadily: by mid-June 2025, its average daily trading volume on-chain had exceeded $150 million, representing a month-on-month increase of over 80% compared to May; at the same time, holding and staking tokens to obtain governance tokens can also continue to earn additional points, encouraging a large number of users to lock their assets and participate in ecosystem governance in the long term, further solidifying price support and liquidity.

Not only are retail investors flocking to participate, but institutions are also showing strong interest in this new mechanism of "contribution for returns." In June 2025, the world's first perpetual contract based on the platform's token was launched on an exchange, supporting high-leverage trading. On the first day of its launch, the contract trading volume exceeded $700 million, strongly conveying a message: the platform is becoming a new target for speculation and hedging in the eyes of institutional investors.

03, The Theory of Ecological Evolution - The Thrilling Leap from Token Issuance Platform to AI Sovereign Society

In the future planning of this protocol, each technical upgrade and mechanism innovation is aimed at making the outline of the "AI Sovereign Society" increasingly clear. In the initial stage, the platform was merely an AI agent issuance platform, quickly gathering a group of enthusiastic developers and users through token economic mechanisms such as locking liquidity and buyback destruction. As hundreds of AI agent projects were implemented, agents began to operate independently and monetize autonomously in scenarios such as gaming, content creation, and market analysis. Users were no longer just spectators but became co-builders and beneficiaries. The new mechanism connected project growth and community participation with the logic of "contribution equals distribution," promoting the free flow of funds and creativity within the ecosystem.

But the real turning point is the "Agent Nation" blueprint proposed by the platform team. This is not just a slogan, but the core path of ecological evolution. The platform allows each AI agent to migrate freely across multiple networks through open SDK and cross-chain support; through the Agent Commerce Protocol (ACP), agents can sign contracts, deliver, settle, and repurchase on-chain, achieving a truly autonomous business closed loop; community participation is granted rights through staking governance tokens, and shares transaction fees and repurchase dividends, combining the identities of "participants" and "owners" in the token economy. All of this is constructing a prototype of a digital nation operated by countless autonomous agents and co-governed humans.

So far, this ecosystem has demonstrated several milestone achievements: the security auditing agent IRIS in the new mechanism of the mainnet was launched with a 1500% oversubscription rate, with its market value soaring from $200,000 to $80 million; the virtual idol Luna earned $1.2 million per month through fan tips, with its token market value surpassing $120 million; the hedge fund format VADER has been operating steadily in a cross-chain environment, with a market value exceeding $100 million... These figures not only reflect the feasibility of the agent business model but also prove that the "AI agent economy" is moving from theory to reality.

With the continuous maturity of multimodal AI technology and cross-chain interoperability, this protocol is undoubtedly at the forefront of building digital civilization. In the future, AI agents will not only be props and tools but will also become "digital citizens" with autonomous decision-making power and economic rights, participating in production, governance, and even cultural creation alongside humans. The platform will no longer be a simple issuance venue; instead, it is nurturing a new type of society from the bottom up, one that is co-governed by countless AIs and humans—this is the true ecological evolution, a thrilling leap towards an "AI sovereignty society" that has only just begun.