I recently read the blog post by @ warden protocol and I feel that their narrative is really accurate - especially from the perspective of No VC. In this market where liquidity is scarce and VC teams are flying, it seems particularly eye-catching. Why do you say that? Because now too many "AI x Crypto" projects are starting with a round of financing, promoting their vision first, and then considering the product. When the money is burned out and there are no users, the story will be ruined halfway through. But Warden's approach is clearly different, a bit like Hyperliquid in the past: the team pays for it themselves, does not raise funds, does not follow the "capital fast lane", and focuses all their efforts on making a truly useful, profitable, and ecological product. This kind of reverse operation is actually a scarce commodity in the foggy market of 2025. Moreover, in terms of timing, they are also very precise in their card making. 2025 is the "infrastructure laying year" of Crypto × AI, but the real explosion is likely to be in 2026- when the agent begins to be widely used by mainstream users and can really "make decisions, manage assets, and run strategies independently", the entire Internet needs an economic system and interaction bottom layer dedicated to the agent. To put it simply, when Agents are not just tools, but "semi autonomous entities," Web3 must have an underlying layer that allows them to run, settle, collaborate, and manage assets. And what Warden is doing now is building a complete chain+protocol+application ecosystem for agents. More importantly, they are not just drawing ecology on PPT, but truly have scale: Over 13 million users Daily active income of 250000 Annual income of 2.5 million US dollars+ Ecological coverage of public chains+applications, complete closed-loop In the entire Crypto × AI track, there are actually only a few teams that can achieve "having users, income, and landing products". So why do I think Warden is worth paying attention to? Because in a market where attention is scarce, liquidity is scarce, and patience is even scarcer, teams that rely on products and revenue to establish themselves are more likely to become the real explosive point in the AI × Crypto cycle of 2026. And the narrative of No VC may become the strongest confidence in this cycle. Original link: https://wardenprotocol.org/blog/why-we-are-building-warden