“Solana AI 黑客馬拉松和代幣發布 --- 建設者和投資者須知”

由 SendAI 主辦的 Solana AI 黑客馬拉松已經進行了一段時間，但由於圍繞 AI 敘事的持續炒作，社區的熱情

Solana AI Hackathon Launches 65 Tokens --- Note to Builders and Investors

Solana AI 黑客馬拉松推出 65 個代幣 --- 建造者和投資者須知

[Odaily Planet Daily Translator Azuma / Text]

【Odaily星球日報譯者Azuma/文】

Solana AI Hackathon, hosted by SendAI, has been underway for some time now, but due to the ongoing hype around AI narratives, the community's enthusiasm for related projects shows no signs of waning.

由 SendAI 主辦的 Solana AI 黑客馬拉松已經開展了一段時間，但由於圍繞 AI 敘事的持續炒作，社區對相關項目的熱情絲毫沒有減弱的跡象。

On-chain analysis research firm Pine Analytics reported yesterday that there are now as many as 65 tokens created or directly associated with projects from this hackathon, with a total market capitalization of $482 million, an average market cap of $7.5 million, and a median market cap of $1.7 million; 13 tokens have a market cap exceeding $10 million, and 42 tokens have a market cap exceeding $1 million.

鏈上分析研究公司Pine Analytics 昨天報告稱，目前已有多達65 個代幣被創建或與本次黑客馬拉松項目直接相關，總市值為4.82 億美元，平均市值為750 萬美元，市場中位數為上限為 170 萬美元； 13個代幣市值超過1000萬美元，42個代幣市值超過100萬美元。

However, amidst such fervent community sentiment, SendAI founder Yash Agarwal today published a lengthy article criticizing the current hype and chaos—Yash emphasized that the hackathon homepage had only 40,000 visits in the past week, yet any random token could easily reach a market cap of $50 million… SendAI originally intended to build a platform to boost AI development in the Solana ecosystem, but it has now become a "casino for the fallen." In Yash's view, the current bubble will lead developers to become blind and short-sighted, which is detrimental to the long-term development of Solana AI. Therefore, it is necessary to point out some absurd situations; otherwise, the industry will soon witness a "great disaster."

然而，在如此熱烈的社區情緒中，SendAI 創始人Yash Agarwal 今天發表了一篇長文，批評當前的炒作和混亂——Yash 強調，黑客馬拉松主頁過去一周的訪問量只有4 萬次，但任何隨機代幣的市值都可以輕鬆達到5000萬美元…SendAI原本打算建立一個平台來推動Solana生態系統中的AI發展，但現在它已經成為「墮落者的賭場」。在Yash看來，當前的泡沫會導致開發者變得盲目和短視，這不利於Solana AI的長期發展。因此，有必要指出一些荒謬的情況；否則，產業很快就會迎來一場「大災難」。

Below is the full text by Yash, translated by Odaily Planet Daily.

以下為Yash全文，由Odaily星球日報翻譯。

When we launched this hackathon, I had a simple vision—to make Solana the AI blockchain and achieve 10x growth.

當我們發起這次黑客馬拉松時，我有一個簡單的願景——讓 Solana 成為人工智慧區塊鏈並實現 10 倍的成長。

I believe hackathons are the best feasible way to achieve this goal, as we can gather everyone under one roof, and I can personally invest in promising Crypto x AI Agent projects.

我相信黑客馬拉松是實現這一目標的最佳可行方式，因為我們可以將每個人聚集在一個屋簷下，我個人可以投資有前景的 Crypto x AI Agent 專案。

In the past month, I can say that the Solana AI hackathon has not only established its brand but has completely changed the landscape of Solana's AI Agent ecosystem. Completing over 400 projects in 15 days is no easy feat, and my team and I are incredibly proud of our contribution to adding $500 million to $1 billion in market value to the Solana AI ecosystem.

在過去的一個月裡，我可以說 Solana AI 黑客馬拉鬆不僅建立了自己的品牌，而且徹底改變了 Solana AI Agent 生態系統的面貌。在 15 天內完成 400 多個專案絕非易事，我和我的團隊為我們為 Solana AI 生態系統增加 5 億至 10 億美元的市場價值所做的貢獻感到無比自豪。

Of course, when we launched this hackathon, we had a premonition that due to this strange Crypto x AI Agent model, there would be some related token issuances. If developers are using tokens as a means of capital accumulation with the goal of building excellent products, that is completely fine. We also carefully designed all 8 tracks (sponsors had no say in this) to encourage truly useful AI Agents.

當然，當我們發起這次黑客鬆的時候，我們就預感到，由於這種奇怪的Crypto x AI Agent模型，將會出現一些相關的代幣發行。如果開發者使用代幣作為資本累積的手段，以打造優秀的產品為目標，那就完全沒問題。我們還精心設計了所有 8 個賽道（贊助商對此沒有發言權），以鼓勵真正有用的 AI 代理。

But we did not expect it to turn into a "casino for the fallen." To give everyone a clearer picture of the numbers, the project homepage of the Solana AI hackathon had only over 40,000 visitors in the past week, yet now 2-3 hackathon-related tokens are easily reaching a market cap of $50 million daily, with the cumulative value of all related tokens exceeding $500 million. Unintentionally, the Solana AI hackathon has become a discovery platform for AI tokens.

但我們沒想到它變成了「墮落者的賭場」。為了讓大家更清楚地了解數字，Solana AI 黑客鬆的項目主頁在過去一周的訪問量只有 4 萬多，但現在 2-3 個黑客松相關的代幣每天輕鬆達到 5000 萬美元的市值，其中所有相關代幣的累計價值超過5 億美元。無意中，Solana AI 黑客馬拉松已成為 AI 代幣的發現平台。

Speculation Driven

投機驅動

The current situation is basically as follows:

目前的情況基本上是這樣的：

(Project teams) submit projects in the hackathon and appear in the Solana AI hackathon project directory;

（專案團隊）在黑客松中提交專案並出現在 Solana AI 黑客松專案目錄中；

Use the reputation gained from Solana AI hackathon/SendAI;

利用 Solana AI 黑客馬拉松/SendAI 獲得的聲譽；

Release tokens → Attract whale and KOL sniping/promotion → Boom! Instantly complete a token issuance of $5 million to $50 million;

釋放代幣→吸引鯨魚和KOL狙擊/促銷→繁榮！立即完成500萬美元至5000萬美元的代幣發行；

In the eyes of gamblers, through early ape-in operations, they can potentially gain 100x returns from hackathon-related projects, making the hackathon a perfect investment venue.

在賭徒眼中，透過早期的猿入操作，他們有可能從黑客松相關項目中獲得100倍的回報，使黑客鬆成為完美的投資場所。

This is not a new story; it is a typical power-law distribution-driven speculation.

這並不是一個新故事。這是典型的冪律分佈驅動的推測。

While I am glad to see some developers launching tokens for necessary early capital accumulation, the problem is that the current bubble is too large.

雖然我很高興看到一些開發人員推出代幣以進行必要的早期資本積累，但問題是目前的泡沫太大。

Although this is closer to a fair issuance (similar to ICO), I believe this is not the best direction for us to move forward.

雖然這更接近公平發行（類似ICO），但我相信這不是我們前進的最佳方向。

Developers are Becoming Blind

開發商變得盲目

The extremely high pace of token issuance is making developers short-sighted and blind.

極高的代幣發行速度讓開發者變得短視和盲目。

Currently, 90% of Crypto x AI projects are no different from meme tokens based on cat/dog concepts. Of course, if they are aware of this, that is completely fine… However, many projects will promote their tokens as "utility tokens," which is actually a bigger scam.

目前，90％的 Crypto x AI 項目與基於貓/狗概念的 meme 代幣沒有什麼不同。當然，如果他們意識到這一點，那就完全沒問題……然而，許多項目會將他們的代幣宣傳為“實用代幣”，這實際上是一個更大的騙局。

The current pace is detrimental to real developers (especially the weaker ones) in the long term, as they now have to consider short-term issues.

從長遠來看，目前的步伐對真正的開發商（尤其是實力較弱的開發商）不利，因為他們現在必須考慮短期問題。

Most Agent/Infra projects have realized that tokens are the best way to gain attention: token issuance → Agent/Framework "viral" spread (but users are 0) → token pump →

大多數Agent/Infra專案已經意識到代幣是獲得關注的最佳方式：代幣發行→Agent/Framework「病毒式」傳播（但用戶為0）→代幣幫浦→