Recently, a story in the crypto world hit close to home. A whale deposited 27.2 million PUMP tokens into FalconX, resulting in an unrealized loss of $6.21 million. When this person initially withdrew the tokens from a leading exchange, their paper value was nearly $14 million. From peak to plunge, the bloody lesson is clear—many project tokens are designed haphazardly, with wild price swings, and investors' confidence is as fragile as paper.

However, amidst this chaos, some teams are contemplating entirely different matters. Take KITE, for example. Its ambition isn't to speculate on tokens but to build the infrastructure for an "AI Intelligent Agent Economy." In other words, it aims to create a complete identity verification and payment system for these AI robots. Allowing AI to verify identities, set spending limits, and initiate small transactions—all operations are traceable. Sounds futuristic, right? But the reality is, today's internet is designed for humans. When the era of countless AIs operating automatically and making independent decisions arrives, a new foundational infrastructure will be necessary.

Interestingly, the story of KITE itself also highlights the issue. It started as a data service, only to realize later that the real bottleneck isn't data volume but how machines establish trust and exchange value. This shift proves the qualities of a good project—it's not about sticking rigidly to the whitepaper but adjusting direction based on actual needs. The initial hype around KITE, with a first-day trading volume reaching $260 million, also confirms this point.

But there's a detail worth noting: KITE's total supply is 10 billion tokens, with only 1.8 billion currently in circulation. Once fully unlocked, its value could be much higher than its current market cap. This means the unlock schedule poses a significant future risk.