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The AUM Gap
Log-scale comparison of MC/AUM ratios across AI agent tokens and DeFi protocols, plus gain distribution across 925k holders. Click bars to explore.
Lab
Artifacts ⬢
138 explorable, interactive pieces — every concept we write about, made tangible.
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The Prover's Bargain
ZKLoRA proof times across six base models: the prover bears 31–74 s of computation per LoRA module while the verifier spends 1–2 s. Toggle per-module vs full adapter set; tap a model to see total prover and verifier work — the asymmetry is the deal.
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The KV Wall
KV cache size (GiB) vs context length for Llama 3.1 8B, 70B, and 405B on log-log axes, against A10G / H100 VRAM ceilings. Toggle BF16, INT4, or DeltaKV compression and drag the cursor — the panel shows whether the live KV state fits on a single GPU.
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The Thinking Ledger
How much of a reasoning model's output is actually thinking? For three model tiers at three task difficulties, stacked bars show thinking tokens dwarfing output — then a scheme matrix shows which verification schemes can see the thinking and which attest to the answer alone.
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The Privacy Budget
A data market can't pay you for your data's value AND protect it with one privacy budget ε. Drag ε: the worst-case leakage bound hits ≈100% by ε=8 — exactly where from-scratch models finally become usable. Real attacks sit far below the bound, and that gap is your only cover.
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The Undercutting Spiral
Autonomous LLM firms undercut each other below unit cost in a race to bankruptcy, then survivors monopoly-price. Drag price discovery up to deepen the crash (the paper's counterintuitive result), or add stabilizer firms to rescue the market. Deterministic model of Agent Bazaar's 'The Crash'.
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Generation Loss
Train a model on its own output, generation after generation. Each step draws a finite sample of size M and refits — so the tails starve first and the curve collapses toward a spike. Toggle replace vs accumulate: replace drives σ̂ toward zero, accumulate holds it. A copy of a copy of a copy.
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The Attestation Ladder
The on-chain gas cost of verifying a TEE attestation quote, across three paths: naive Solidity (~4.5M), the EIP-7951 precompile (~3.5M), and a zkVM-compressed proof (flat ~290k). Tap a bar and scale to attestations-per-day — the flat proof is the only path that survives continuous agent attestation.
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The All-to-All Wall
Decode speed of a frontier MoE model versus interconnect bandwidth. Each layer's expert routing is an all-to-all shuffle bounded by the slowest link. Drag from NVLink down to home broadband: the line crosses the interactive floor at the datacenter edge, then falls to seconds per token.
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The Funding Skew
A perpetual market maker's quote ladder. Avellaneda-Stoikov skews only for inventory; funding adds a second, signed skew that survives even at zero inventory. Drag the reservation line to set inventory, push funding and horizon, and watch the two skews stack or cancel.
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The Receipt Ladder
Seven ways to verify what an AI agent claims it did, plotted by latency added against the share of fabricated claims caught. Pick a claim type and watch it route to the cheapest sufficient verifier — a free chain receipt, a 12ms signed receipt, or a zkLLM proof reserved for the inference itself.
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The Flat Verifier
On-chain cost of a query versus how much history it touches. Re-executing pays a cold SLOAD per value and hits the 60M block-gas wall — or can't reach the data at all. A coprocessor's proof verifies flat at ~300k gas whatever the size. Drag the cursor or pick a real query; the cyan line never moves.