Eigen和 Story这波联手主要是在押注“去中心化 AI Agent 经济”。具体怎么理解？ • Story 负责把每个数据、每张图、每段文字的版权和出处做成可编程、可上链的（Programmable Provenance） • EigenCloud 负责让 AI 的每一次计算都能被密码学证明「我真的自己算了，没偷懒没作假」（Verifiable Compute） • 用完以后，智能合约自动把钱分给数据提供者、模型作者、算力提供者等。 这个组合，类似于给加密AI Agent 三个东西： •身份证（数据版权归属可查） •信任引擎（计算过程可验证） •银行卡/自动分账（链上结算） 如果“加密自主 AI Agent”这个新物种真的爆发，对Eigen和Story是有利的，一个通过“版权和数据来源”获利，一个通过“计算真实性”获利，尤其是可验证计算会是自主ai agent经济不可缺少的部分。

The testnet for spot trading on Lighter is live! Check out the link in the thread. We welcome feedback from traders as we get ready to launch the mainnet.

Real-time proving at home is here. SP1 Hypercube proves 99.7% of Ethereum blocks in real time with just 16 RTX 5090 GPUs. Scaling the L1 is a reality.

⚠️ Did you read this? ⬇️ The Zama Protocol is not a new L1 or L2, but rather a cross-chain confidentiality layer sitting on top of existing chains. As such, users don’t need to bridge to a new chain and can interact with confidential dapps from wherever they choose. The Zama Protocol enables issuing, managing and trading assets confidentially on existing public blockchains. It is the most advanced confidentiality protocol to date, offering: ■ End-to-end encryption of transaction inputs and state: no-one can see the data, not even node operators. ■ Composability between confidential contracts, as well as with non-confidential ones. Developers can build on top of other contracts, tokens and dapps. ■ Programmable confidentiality: smart contracts define who can decrypt what, meaning developers have full control over confidentiality rules in their applications. It leverages Zama’s state-of-the-art Fully Homomorphic Encryption (FHE) technology, which enables computing directly on encrypted data. FHE has long been considered the “holy grail” of cryptography, as it allows end-to-end encryption for any application, onchain or offchain. We believe that just like the internet went from zero encryption with HTTP to encrypting data in transit with HTTPS, the next natural step will be to use FHE to enable end-to-end encryption by default in every application, something we call HTTPZ. Until recently however, FHE was too slow, too limited in terms of applications it could support, and too difficult to use for developers. This is what our team at Zama has spent the last 5 years solving. We now have a highly efficient FHE technology that can support any type of application, using common programming languages such as Solidity and Python, while being over 100x faster than 5 years ago. Importantly, Zama’s FHE technology is already post-quantum, meaning there is no known quantum algorithms that can break it. While FHE is the core technology used in the Zama Protocol, we also leverage Multi-Party Computation (MPC) and Zero-Knowledge Proofs (ZK) to address the shortcomings of other confidentiality solutions: ■ FHE enables confidentiality while being fully publicly verifiable (anyone can recompute the FHE operations and verify them). Using GPUs will soon allow scaling to 100+ transactions/s while dedicated hardware accelerators (FPGAs and ASICs) will enable scaling to thousands of transactions per second. ■ MPC enables decentralizing the global network key, ensuring no single party can access it. Using MPC only to generate keys and decrypt data for users minimizes latency and communication, thereby making it far more scalable and decentralized than using it for private computation. ■ ZK ensures the encrypted inputs provided by users were actually encrypted correctly. Using ZK only for this specific purpose makes the ZK proofs lightweight and cheap to generate in a browser or mobile app. Happy Sunday 🌞

Coming Soon: The $ZAMA Token. $ZAMA is the native token of the Zama Confidential Blockchain Protocol. It will be used for protocol fees and staking. It follows a burn-and-mint model, where 100% of the fees are burned and tokens are minted to reward operators. ■ Users pay fees to keep transactions confidential (fees are burned) ■ Network operators get rewarded with new $ZAMA tokens What Do Users Pay For? ■ Encrypting transaction data: $0.005-$0.50 ■ Reading confidential balances: $0.001-$0.10 ■ Moving confidential assets between chains: $0.01-$1 Heavy users may get big discounts (up to 100x cheaper). Prices stay stable in USD even if the token price changes, creating predictability for developers who use Zama in their products. Real Example: Confidential Token Transfer. ■ Send tokens without revealing amounts or balances ■ Cost: $0.008-$0.80 depending on your usage level ■ Power users pay pennies; casual users pay under $1 How Operators Get Paid. The Zama Protocol uses Delegated Proof-of-Stake, with 18 operators running the protocol: initially 13 KMS nodes and 5 FHE Coprocessors (and more over time). ■ Coprocessors: bigger rewards, higher costs ■ KMS nodes: smaller rewards, lower costs Token holders can delegate their stake to these operators to help secure the network. Zama’s tokenomics are designed to be self-sufficient. If 10% of future crypto transactions are encrypted, it could result in $1B+ in yearly fees. Read more in the Litepaper: docs.zama.org/protocol/zama-…