Development Background

In recent years, the rapid development of AI technology and the continuous iteration of large-scale language models have promoted significant progress in the field of natural language processing. However, as the model scale expands and computing resources increase, people are beginning to question whether the “law of expansion” remains effective. In this context, proxy AI, as a new form of AI, has emerged. Proxy AI has stronger autonomy, interactivity, and multi-task processing capabilities, with wide-ranging applications. Top Hat follows this trend, focusing on the field of AI agents, and providing a platform for users to create and manage AI agents without the need for programming knowledge.

The decentralized and tamper-proof characteristics of blockchain technology provide security and trust for data, and also provide possibilities for building a new economic incentive system. As a high-performance public chain, Solana has advantages such as high throughput, low transaction fees, good scalability, rich developer toolkits, and an active community. Top Hat chooses Solana as the underlying infrastructure to fully leverage these advantages and provide an efficient and cost-effective environment for the deployment and operation of AI agents.

The Top Hat project issued the token HAT on the pump.fun platform on October 31, 2024. The project has completed a certain stage of development and has the basic platform functionality and token economic system. Recently, the platform also released the Hat V2 upgrade roadmap, which is expected to be the biggest upgrade since its launch.

Image Source:https://docs.tophat.one/readme/hat-v2-the-biggest-upgrade-to-top-hat-since-launch

Product Features

Top hat is an AI token infrastructure platform that has integrated three of the latest LLMs (OpenAI) into its backend infrastructure. By switching between these models based on dialogue context and utilizing integrated jailbreaks, it smoothly handles Twitter discussions and NSFW content.

There are over nine thousand Argents currently created, and the official website has released the top ten Argents by market capitalization. These agents have diverse functions, such as Kolin, which can be used to train feature-specific Twitter bots, covering multiple fields such as art and social. It is currently ranked first by market capitalization on the official website. Kwant can specifically analyze K-line charts and provide professional opinions; Roastm4ster9000 is a ‘joke master’ who outputs cryptocurrency jokes. It can also communicate with users in text, understand and process image content, such as providing appropriate responses to images sent by users.

Image Source:https://tophat.one/

In addition, the protocol also collaborates with Cheems to launch the Cheems AI agent robot, and users can chat and interact with the robot through the Telegram channel.

According to official data, the number of messages sent by Agents on Top Hat is about 1.37 million, the total number of Twitter posts exceeds 600,000, the number of new Argents within 24 hours is 103, and the number of new users is 84.

Image source:https://dune.com/satoshiiiiii/top-hat-ai-statistics

Image Source:https://dune.com/satoshiiiiii/top-hat-ai-statistics

Hat V2

The specific launch time of V2 version is unknown, but from the update contents of the official documentation, the development and testing work is in progress, and there may be significant progress in 2025. According to official information, the updates of v2 include the following aspects:

(1) Brand and Document Updates

Brand Reshaping: Presenting the project’s new development direction with a simple and stylish appearance, achieving an upgrade in visual image.

Document upgrade: integrate V1 version documents and incorporate V2 update content.

(2) Infrastructure optimization

Architectural Transformation: Upgrading the backend from a general proxy launch board to a customizable AI proxy infrastructure, providing users with more personalized and scalable services to meet diverse AI proxy creation needs.

Wallet function expansion: Empower AI to perform wallet functions, enabling it to execute on-chain operations, expanding the application scenarios of agents in the blockchain ecosystem, such as conducting cryptocurrency transactions, participating in on-chain governance, etc.

Enhanced Cross-chain Support: Supports the creation of AI agents for tokens issued on blockchains other than Solana, breaking the limitation of a single blockchain, expanding the scope of project resource integration, and increasing accessible assets and data sources.

(3) Platform Function Expansion

Payment System Optimization: Establish HAT Token as the core payment token of the platform and strengthen its application scenarios in the ecosystem.

Enhanced interaction and integration capabilities: provide Chat API to facilitate users to embed AI agents into custom websites or connect to third-party tools such as speech generators, enhancing the interactivity and application scenario expansion of AI agents; through customizable interaction hooks, custom logic can be added to achieve complex workflows, such as analyzing user intent, calling external APIs, searching knowledge bases, and adding dynamic image responses, thus enhancing user experience.

Upgrade of Customization and Creation Assistance: Advanced customization function is launched, which requires users to unlock with HAT to meet the fine customization needs of professional users and developers for AI agents; Prompt Helper function can easily generate prompts based on text and images, reduce creation barriers, and improve creation efficiency; Clone Twitter function can imitate the language style and perspective of any Twitter user, providing new creative tools for content creation and social simulation.

Improved testing and trading functionality: Set up a sandbox testing environment, similar to Virtuals’ G.A.M.E, allowing users to test proxies in an isolated and controllable environment to reduce risks and ensure the stability and reliability of proxies before they go live. Integrated token trading functionality, allowing users to directly trade proxy tokens within the platform without having to navigate to another page, improving trading convenience and facilitating the liquidity of tokens within the platform.

Intelligent Generation Enhancement: Implement RAG (Retrieval-Augmented Generation) technology to combine knowledge retrieval and generation models, enabling AI agents to generate more accurate and contextually richer content, improving the quality and usefulness of answers.

API ecosystem expansion: Build an API plugin store to easily connect external APIs, enrich AI agent functions; support direct payment with $HAT for APIs created by the integrated community, incentivize developers to participate in ecosystem construction, and provide users with more personalized functional choices.

(4) Twitter interaction upgrade

Added ‘tweet’ and ‘learn’ commands. ‘tweet’ allows users to request agents to tweet around specific topics, ‘learn’ enables agents to instantly impart new information to agents, and agents can autonomously tweet using the knowledge base information, enhancing interaction with social media and improving agents’ social content creation and knowledge updating abilities.

(5) Token Issuance Innovation

Introducing a token launch mode led by AI agents, where agents can control the token issuance process, including transaction fee setting; transaction fees will be distributed among agents, agent creators, and HAT.

Token Economy

The native token of the project is HAT, with a total supply of 1 billion. It is an ERC-20 token issued on the Ethereum blockchain platform. HAT token was fairly distributed on the pump.fun platform on October 31, 2024, without any risk investment involvement or token pre-allocation. On January 7, 2025, HAT token was added to Binance Alpha, and the exposure of Top Hat in the crypto community was increased.

Image source:https://www.coingecko.com/en/coins/top-hat

In Top Hat v1, the platform will use 10% of its revenue to repurchase and destroy HAT tokens, and plans to increase the destruction rate of HAT in circulation based on Agent usage in the future. In v2, HAT tokens are given more application scenarios, including the following aspects:

Image Source:https://docs.tophat.one/readme/usdhat-tokenomics

(1) Platform Service Payment

Credit Pricing: The platform’s credit packages are priced in HAT tokens, and using HAT for payment also provides a 20% discount, which provides convenience and economic incentives for users to use the platform’s credit services.

Advanced Feature Usage: Users who want to use the advanced customization features and capabilities of the platform’s AI agent need to hold a certain amount of HAT tokens, making HAT the key to unlocking more powerful platform functions.

API Store Payment: In the community API store, developers contribute APIs to the platform, and creators can use HAT tokens to pay them rewards, which helps motivate developers to actively participate in the platform’s ecosystem construction and enrich the platform’s functionality and services.

Token Launchpad Fee Allocation: When tokens are launched on the platform, part of the fees will be allocated to HAT token holders, providing HAT holders with a way to earn income and enhancing the incentive for users to hold HAT.

(2) Data Market Transaction

HAT tokens can be used to purchase and sell data in the data marketplace. Individuals can earn HAT rewards by providing data and can also use HAT to purchase the data they need, allowing data owners to better control and monetize their data, promoting the circulation and sharing of data.

(3) Participate in platform governance

As the native token of the platform, HAT may play a role in future platform governance, and token holders may be able to participate in governance activities such as platform rule-making and development direction decision-making, influencing the platform’s development path.

(4) Incentive and reward mechanisms

The platform may use HAT tokens as incentives to reward users who actively participate in platform construction and contribute to platform development, such as active traders, excellent AI agent creators, etc., in order to increase user engagement and loyalty.

Users can buy HAT tokens on centralized exchanges such as Binance, OKX, Gate.io, etc.; they can also buy them on some decentralized exchanges such as Uniswap, Raydium, etc.

Summary

In the era of rapid development of AI technology, increasingly mature blockchain technology, profound changes in the SaaS model, and a surge in market demand for intelligent tools, the AI agent platform Top Hat has emerged. Technologically, it is based on the high-performance Solana chain, which ensures efficient operation and low cost of AI agents. Its AI agent has powerful capabilities such as information synthesis, workflow automation, real-time decision-making, and can also interact on social media and participate in asset management. In terms of economic model, its issued HAT token adopts a deflationary model, which is not only used for payment of various platform functions, but also provides incentives for the platform’s ecological development. The products launched by the project already have basic functions, and the team is currently developing the test v2 version, which is expected to be launched in 2025 with significant updates and iterations, indicating certain development prospects for the project in the future.