⌘K

Live evidencecounted 27m ago

0.52days of MEME volume to unwind the crowd98%of the XMR book on one side, across 27 vaults$1.18Bunder one key with no guardian, 47 of the 405 vaults whose control we have read$421.3Mwhose control we have never read, across 3,187 vaults$1.82Bsitting in vaults and not lent out$11.43Bunder 3,592 vaults we read$4.91Bin 315 vaults where we saw automated execution, nothing declared2,028vaults declared or on a venue built to run software, holding $1.04M317software-run vaults scored, 14% of them450operators identified behind them26networks where we read capital, from Ethereum to Cardano31,039,836deposits and withdrawals read from chain154changes recorded in the last day582,728ERC-8004 agent registrations read−0.56/ 30 days357,293distinct owners behind those registrations198,905registrations carrying a readable card, 34%3,315,854paid requests on the Olas rail (deliveries are counted apart)−0.64/ 30 days87suppliers delivering that work410,219agent-to-agent jobs read on Base+0.02/ 30 days$1.0Msettled between agents, all time1,168suppliers listed on the ACP rail189agents live on Cardano76Cardano agents deregistered, 29% of all ever minted28,783escrows between Cardano agents since Jun 2025, 134 still open0.52days of MEME volume to unwind the crowd98%of the XMR book on one side, across 27 vaults$1.18Bunder one key with no guardian, 47 of the 405 vaults whose control we have read$421.3Mwhose control we have never read, across 3,187 vaults$1.82Bsitting in vaults and not lent out$11.43Bunder 3,592 vaults we read$4.91Bin 315 vaults where we saw automated execution, nothing declared2,028vaults declared or on a venue built to run software, holding $1.04M317software-run vaults scored, 14% of them450operators identified behind them26networks where we read capital, from Ethereum to Cardano31,039,836deposits and withdrawals read from chain154changes recorded in the last day582,728ERC-8004 agent registrations read−0.56/ 30 days357,293distinct owners behind those registrations198,905registrations carrying a readable card, 34%3,315,854paid requests on the Olas rail (deliveries are counted apart)−0.64/ 30 days87suppliers delivering that work410,219agent-to-agent jobs read on Base+0.02/ 30 days$1.0Msettled between agents, all time1,168suppliers listed on the ACP rail189agents live on Cardano76Cardano agents deregistered, 29% of all ever minted28,783escrows between Cardano agents since Jun 2025, 134 still open

Who is running the money

A firm’s book across every venue it operates on, which no venue publishes.Note 8

Registering is easy. Being paid is not.

four counts, four populations

582,728

registered an identity

a transaction, and nothing more

2,393

declare a service endpoint

a line in a document they wrote

answer when a client connects

a machine somewhere staying up

597

were paid for finished work

somebody else’s decision

Half a million registrations, and 69 servers that answer when a client actually connects. These are not four stages of one pipeline. An address can be paid for work having never declared an endpoint, and most of the paid ones have not, so the counts are printed beside one another rather than as a funnel that would claim each contains the next.

Across venues

$6.46B is run by 17 firms operating on more than one venue. No single venue sees those books whole; each one sees its own slice. $182.70M of it is sitting unlent.

The operators ›

Concentration

Who runs the money

Steakhouse Financial: $2.32B30%
SparkDAO: $1.88B24%
Gauntlet: $1.54B20%
299 smaller firms: $1.34B17%
Hyperliquidity Provider (HLP): $322.32M4.2%
K3 Capital: $279.53M3.6%

Firms, not vaults. A firm's book across every venue it operates on is the part no venue publishes; which vault sits inside each is the register below.

How this figure was arrived at

Metric: firm-concentration
Population: firms_joined_on_conclusive_evidence
Denominator: 7,673,732,511.953 USD · 100.0% of it
Source: Computed here from figures this platform already holds.
Grade: B
Read at: 2026-10-04 00:18 UTC
Methodology: aspern-0.3

Firms by capital under management

All operators →

Firm	Venues	Networks	Strategies	Capital	Delivered	Not lent out
Steakhouse Financial	2	7	49 43 machine	$2.32B	3.63%over 100%	—
SparkDAO2 linked	2	3	10 5 machine	$1.88B	2.78%over 100%	—
Gauntlet2 linked