Spectral - AI Agents Trading on Hyperliquid? What You Need to Know
AI-powered perps trading, Syntax V2, & More
In yesterday’s edition, we covered Clanker, which rose to popularity just last week as the primary platform to create new memecoins on Base. But just as quick as this platform was adopted, its metrics tailed off, with tokens created on the platform falling significantly. This highlights just how fast these rotations in crypto can take place, with attention flowing from one ecosystem to another rapidly. Most recently, both the capital and attention of crypto-natives has found themselves flowing to Hyperliquid.
Since the $HYPE TGE on Friday, Hyperliquid has been a top-performing token, and the chain itself has also been getting some attention beyond just the perps platform. Hyperliquid is actually a top 10 chain by TVL, just behind Sui and Avalanche. Large funds were seen bridging over vast sums of $USDC to average into $HYPE, and the token’s ascent from ~$3 to nearly $10 rapidly increased chain TVL in a couple of days. While $HYPE may be appealing to individuals and institutions alike, the Hyperliquid chain itself also might see some smaller ecosystem plays emerge just as we’ve seen with Solana, Base, and other chains. In today’s edition, we’ll discuss Spectral Labs. Spectral seemingly kills three birds with one stone, encompassing the memecoin, AI agent, and Hyperliquid narrative, all in one…
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Background on Spectral
Agentic AI has been the predominant narrative across chains recently, the first new advancement we’ve seen in some time, at least at this scale. Whether it’s ai16z on Solana or Virtuals on Base, there is a huge demand for protocols that make it easy to create AI agents, especially those that can interact onchain and make transactions.
Spectral, natively deployed on Base, is a platform allowing users to create their own AI agents, via chat prompt. Specifically, the goal of these agents is to trade onchain. The differentiating factor of Spectral is its onchain integrations, being it's agent wallet/key management, and perhaps more importantly, the ability to now trade perps on Hyperliquid. Spectral has recently launched their Syntax V2 upgrade, with agents first going live on the Hyperliquid chain, in order to have access to perps.
Users can specify personality traits or preferences when creating their agents. This is an interesting dynamic since the main purpose of agents on Spectral is their ability to trade, so users could try to express certain risk profiles, volatility tolerances, etc.
Additionally, there is an emphasis on no-code creation. While platforms like ai16z provide developer onboarding resources, the process of creating agents isn’t seamless yet, and being able to deploy an agent from a chat prompt would be a significant step forward.
Similar to Virtuals, accessing the agent’s capabilities is contingent on owning some amount of the agent's native token. More tokens = more time to interact with and influence a given agent. This is a new take on token-based governance, as all holders can directly influence the agent, without having to wait for proposals to be approved. This is how token holders can point an agent in a certain direction, and correct course - the agent comes equipped with its own logic and reasoning capabilities which drive its primary objectives.
Overall, one of the key catalysts to the AI agents craze was the launch of ai16z, an autonomous agent-operated investment/trading DAO. At this time, the agent has simply bought some spot tokens on Solana. So, something like Spectral Syntax V2 ups the anty by natively giving these agents access to perps.
This integration also ties into the broader idea of AI agents using crypto instead of traditional payment rails, due to a lack of accessibility to traditional payment mechanisms, inability to pass KYC etc. In fact, Spectral has already integrated with Synapse, to provide direct access to bridging for its agents.
While far-fetched at this time, the idea that developers might build DeFi protocols with the use of AI agents in mind could come in the near future, especially if the pace of development of AI agents continues at this rate. Virtuals recently passed the $1.5B valuation mark, as the platform saw over 1,000 agents created on its platform in a day, showing clear demand from both investors as well as users/developers for this kind of product.
In its current state, liquidity, and mindshare in crypto are still fragmented, so it may not yet be viable to have a small handful of popular agent platforms that can operate in a chain-agnostic manner. Instead, multiple platforms might emerge catering to different chains, which is what we’re seeing now.
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