Alex

The more I research $SMT, the less its valuation makes sense. @The_DTCC Tokenized stocks. Tokenized funds. Tokenized bonds. 24/7 capital markets. Everyone is chasing the assets. Almost nobody is looking at the regulated infrastructure underneath. Meanwhile @SwarmMarkets has already built: • BaFin-regulated infrastructure in Germany • Tokenized stocks, bonds and gold • Regulated RWA trading rails • Staking & governance utility • Buyback & burn mechanisms • Potential future tokenized equity access using SMT And it gets even more interesting. Swarm was acquired by @InveniamIO to help build a full-stack platform for tokenized assets, private markets and AI-ready financial infrastructure. So let’s recap: • Regulated infrastructure • Real-world assets • Tokenized securities • Deflationary mechanisms • Potential equity-tokenization optionality • Inveniam integration And $SMT is still sitting around a ~$1.4M market cap. Not $140M. Not $40M. $1.4M. If DTCC, Wall Street and institutional RWAs become one of the biggest stories of this cycle, I think the market will eventually stop looking only at the assets and start looking at the infrastructure underneath. That’s where things get interesting.

If you’ve been around crypto long enough, you’ve probably seen countless projects throwing around buzzwords like AI, privacy, agents, and infrastructure. What’s interesting about $FHESTATE is that it’s trying to combine several of these narratives into a single stack focused on confidential execution and private financial coordination on Solana. At a high level, the goal isn’t just to create another agent framework. @Fhe_state idea is to build infrastructure that allows users, DAOs, and autonomous agents to interact with encrypted state, execute logic privately, and coordinate financial actions without exposing sensitive information on-chain. That’s where things start getting interesting, because the project is gradually moving from concept to implementation, with core components already being built and tested. The long-term vision looks something like this: Shielded Vaults ↓ Private Payments ↓ Blind DCA ↓ Private Swaps ↓ Treasury Management ↓ Multi-Agent Coordination ↓ Confidential Agent Network The interesting part is that we’re no longer talking purely about vision. There are already real building blocks in place: • Browser #FHE via #TFHE-rs WASM • Homomorphic comparisons • StateContainer PDAs • Coordinator state machine • Reveal system • Off-chain FHE execution • Solana settlement layer The latest Phase 5 update is focused on solving the hard infrastructure problems: • state synchronization • commitment tracking • versioned state transitions • coordinator architecture • observability In other words, the exact bottlenecks you’d expect if you’re trying to scale confidential execution systems. What does this mean for users? Today: • privacy • encrypted permissions • control over agent actions Tomorrow: → Wallet Copilot An #AI agent helping manage financial tasks without ever receiving full access to your wallet. → Blind DCA Automated buying strategies without exposing your positions, sizes, or intentions. → Private Swaps Reducing wallet tracking, front-running, and market signaling. → Treasury Management DAOs and businesses managing budgets, permissions, and spending policies without exposing internal financial data. The most important shift in my view: A few weeks ago this looked like an AI + FHE project. Today it looks much closer to a confidential financial infrastructure layer for both humans and autonomous agents. The big question is no longer whether they can build. The big question is whether they can build an ecosystem on top of it. If they do, Shielded Vaults could become the primitive everything else is built around. #FHESTATE

I’ve been watching this new launch $ZERO @c0mputeAI today. A few things stood out: • Real codebase (Rust + TS) • Active GitHub with recent commits • Multiple releases already shipped • MIT licensed • Founder appears publicly tied to Profullstack, not an anonymous burner account • Clear focus on decentralized AI inference, not just generic “AI + crypto” buzzwords What I find interesting isn’t the token. It’s that they’re trying to solve an actual problem: How do you turn idle compute into a permissionless AI network where users pay for inference and workers earn for providing resources? Still very early. Community is tiny. Product looks alpha. A lot of infrastructure is still being wired together. But compared to many microcap AI projects, there seems to be genuine engineering happening under the hood. Definitely one I’m keeping on my watchlist. $ZERO 👀👀👀