Tokens can help projects raise funds quickly, sounds good. But what about reality? Most AI agents don't actually need a huge capital pool to operate and develop. Often, tokens become a tool for founders to quickly arbitrage—benefiting themselves while users foot the bill.

In the past two years, the virtual digital currency market has indeed been chaotic. The barriers are low, and the costs are not high, so waves of people rush in to issue tokens for fundraising, just to quickly make money and then disappear. The result? An increasing number of investors get cut, and market trust continues to decline. Classic Ponzi schemes keep playing out—later investors' money subsidizes earlier ones, and this game is bound to collapse.

The problem is clear. How to purify the ecosystem is a question that market participants and platforms should seriously consider.