“Solana AI 黑客马拉松和代币发布 --- 建设者和投资者须知”

由 SendAI 主办的 Solana AI 黑客马拉松已经进行了一段时间，但由于围绕 AI 叙事的持续炒作，社区的热情

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

Solana AI 黑客马拉松推出 65 个代币 --- 建设者和投资者须知

[Odaily Planet Daily Translator Azuma / Text]

【Odaily星球日报译者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 主办的 Solana AI 黑客马拉松已经开展了一段时间，但由于围绕 AI 叙事的持续炒作，社区对相关项目的热情丝毫没有减弱的迹象。

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.

链上分析研究公司 Pine Analytics 昨天报告称，目前已有多达 65 个代币被创建或与本次黑客马拉松项目直接相关，总市值为 4.82 亿美元，平均市值为 750 万美元，市场中位数为上限为 170 万美元； 13个代币市值超过1000万美元，42个代币市值超过100万美元。

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，在如此热烈的社区情绪中，SendAI 创始人 Yash Agarwal 今天发表了一篇长文，批评当前的炒作和混乱——Yash 强调，黑客马拉松主页过去一周的访问量只有 4 万次，但任何随机代币的市值都可以轻松达到5000万美元……SendAI原本打算建立一个平台来推动Solana生态系统中的AI发展，但现在它已经成为“堕落者的赌场”。在Yash看来，当前的泡沫会导致开发者变得盲目和短视，这不利于Solana AI的长期发展。因此，有必要指出一些荒谬的情况；否则，行业很快就会迎来一场“大灾难”。

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

以下为Yash全文，由Odaily星球日报翻译。

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

当我们发起这次黑客马拉松时，我有一个简单的愿景——让 Solana 成为人工智能区块链并实现 10 倍的增长。

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.

我相信黑客马拉松是实现这一目标的最佳可行方式，因为我们可以将每个人聚集在一个屋檐下，而且我个人可以投资有前景的 Crypto x AI Agent 项目。

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.

在过去的一个月里，我可以说 Solana AI 黑客马拉松不仅树立了自己的品牌，而且彻底改变了 Solana AI Agent 生态系统的面貌。在 15 天内完成 400 多个项目绝非易事，我和我的团队为我们为 Solana AI 生态系统增加 5 亿至 10 亿美元的市场价值所做的贡献感到无比自豪。

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.

当然，当我们发起这次黑客松的时候，我们就预感到，由于这种奇怪的Crypto x AI Agent模型，将会出现一些相关的代币发行。如果开发者使用代币作为资本积累的手段，以打造优秀的产品为目标，那完全没问题。我们还精心设计了所有 8 个赛道（赞助商对此没有发言权），以鼓励真正有用的 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.

但我们没想到它变成了“堕落者的赌场”。为了让大家更清楚地了解数字，Solana AI 黑客松的项目主页在过去一周的访问量只有 4 万多，但现在 2-3 个黑客松相关的代币每天轻松达到 5000 万美元的市值，其中所有相关代币的累计价值超过 5 亿美元。无意中，Solana AI 黑客马拉松已成为 AI 代币的发现平台。

Speculation Driven

投机驱动

The current situation is basically as follows:

目前的情况基本是这样的：

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

（项目团队）在黑客松中提交项目并出现在 Solana AI 黑客松项目目录中；

Use the reputation gained from Solana AI hackathon/SendAI;

利用 Solana AI 黑客马拉松/SendAI 获得的声誉；

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

释放代币→吸引鲸鱼和KOL狙击/促销→繁荣！立即完成500万美元至5000万美元的代币发行；

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.

在赌徒眼中，通过早期的猿入操作，他们有可能从黑客松相关项目中获得100倍的回报，使黑客松成为完美的投资场所。

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

这并不是一个新故事。这是典型的幂律分布驱动的推测。

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.

虽然我很高兴看到一些开发商推出代币以进行必要的早期资本积累，但问题是目前的泡沫太大。

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

虽然这更接近公平发行（类似于ICO），但我相信这不是我们前进的最佳方向。

Developers are Becoming Blind

开发商变得盲目

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

极高的代币发行速度让开发者变得短视和盲目。

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 项目与基于猫/狗概念的 meme 代币没有什么不同。当然，如果他们意识到这一点，那就完全没问题……然而，许多项目会将他们的代币宣传为“实用代币”，这实际上是一个更大的骗局。

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.

从长远来看，目前的步伐对真正的开发商（尤其是实力较弱的开发商）不利，因为他们现在必须考虑短期问题。

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 →

大多数Agent/Infra项目已经意识到代币是获得关注的最佳方式：代币发行→Agent/Framework“病毒式”传播（但用户为0）→代币泵→