dreams managed to stand tall during the last wave of AI Agents and is still going strong after a year. What does this tell us: 1) x402 is indeed the second wave and continuation of the AI Agent trend. Most AI Agents in the last wave failed because they fell into the "demand-side" trap of only being able to chat or handle simple transactions, with no quantifiable data metrics. But x402 has upgraded AI Agents from "being able to chat" to "being able to pay." The key lies in quantifiable data like transaction volume, gas consumption, and fee revenue. 2) The fully circulating MEME-style model urgently needs innovation. The token issuance mechanism of Bounding Curve’s internal and external markets and the 100% community circulation approach inherently planted "short-term genes" from the start. Devs and scientists scramble for tokens, and if the token price collapses post-TGE, it could lead to abandoned projects and halted code updates. dreams didn’t go for full circulation. About 15% of its tokens remain unreleased, which has been fundamental to sustaining technical iteration, updates, and community incentives. The traditional pump-and-dump industrial token issuance model needs reform. This is also why I firmly believe x402 will usher in a new wave of Launchpad battles. 3) Long-termism can transcend cycles. The founder @lordOfAFew has remained active in empowering the project and driving the open-source ecosystem. This explains why, when the x402 trend unexpectedly arrived, Dreams, a veteran quietly working behind the scenes, suddenly gained recognition for its value. Behind this is actually long-term technical accumulation and ecosystem support, including metrics like Agent Kits downloads, Facilitator transaction volume, and the full-stack SDK. These are not things that can be patched together at the last minute. This is not financial advice. I just want to tell the builders in the x402 ecosystem through this post: While the market tends to overly reward projects with short-term hype, those that focus on solid technical iteration and seriously cultivate their ecosystem will eventually have their own DayDreams moment. Note: A series of x402 knowledge-sharing posts, including scam awareness, technical breakdowns, business insights, and project analyses, is being continuously updated. If you don’t want to miss out, turn on the notification bell . Thanks for following! Cheers!