montmount

Ah, in the early morning of December 9th, I found myself staring blankly at the K-line chart once again. On the screen, the price of AT stabilized around 0.128 dollars, with a 24-hour trading volume exceeding 100 million dollars, and the market cap barely squeezed to just over 30 million dollars. It seems ordinary, right? But if you, like me, spent the entire weekend last week sifting through APRO's node logs, Binance's airdrop announcements, and those developer AMAs hidden in the depths of Discord, you would understand: this is not an ordinary oracle project; it is a 'killer application' for the blockchain data layer in the AI era.

In the second half of 2025, I began to pay attention to Falcon Finance (FF), not because of any hot speculation, but because I found its positioning in the DeFi space quite interesting: a protocol focusing on generalized collateral infrastructure. Simply put, it allows various liquidity assets to easily become collateral and issue on-chain liquidity. This indeed addresses a pain point in the fragmented DeFi ecosystem. Today is December 9, 2025, and I would like to discuss the current situation of FF, starting from the data and combining it with my small investment experience to talk about its advantages, risks, and future potential. This is not a professional report, just my notes as a retail investor for everyone's reference.

Since my first encounter with KITE in early September, three months have passed, and I have been watching this project every day like a detective. It’s not because I invested a lot (actually, I only put in some spare cash to test the waters), but because it has shown me a whole new possibility of combining AI and blockchain. It’s not the kind of 'trillion-dollar market' boasted about in PPTs, but a solid, closed loop that has been successfully run on the testnet. Today, from my observation, I want to discuss why KITE is not just another AI concept coin, but could become the infrastructure of the agency economy.
Let’s start with market performance. As of today, December 9, 2025, KITE’s price has stabilized around $0.082, with a 24-hour trading volume exceeding $72 million and a market capitalization of about $148 million (CoinGecko data). After dropping from the TGE high of $0.193, it hasn't plummeted to zero like many new coins; instead, it has steadily bottomed out in the $0.08-$0.10 range. Why? Because the circulation is shrinking. Three months ago, at TGE, there were 1.8 billion circulating tokens, and now the actual tradable amount is less than 1.3 billion — the module lock pool and staking have consumed nearly 500 million tokens. This is not due to manipulation by the project team, but rather a result of the mechanism design: each agency settlement automatically locks a portion of KITE permanently, forming a deflationary spiral.

On December x at xx:xx, a proposal numbered xx appeared on the governance forum of APRO, with a title of only eight characters: “Feasibility Study on Node Licensing System”
The text contains 127 characters, with an attachment of a 2.7MB encrypted PDF, the password is locked, and the posting account is “0x0000…0000” (all zeros address, on-chain identity cannot be traced).
The post survived for 41 minutes before being deleted by the administrator on the grounds of “suspected phishing.” However, before it was deleted, 27 addresses holding more than 5 million AT had clicked “Private Message Author,” among which 19 were from the top 50 nodes on the public list.

On the evening of December 7th, I discovered a phenomenon on APRO's node monitoring panel that almost defies intuition: on the three currently fastest L2s, Base, Arbitrum, and Optimism, APRO's price update latency is actually slower by 400-700 milliseconds compared to the Ethereum mainnet.
The normal person's first reaction upon seeing this is 'bug' or 'the node isn't optimized well.'
But after staring at the logs for three days, I reached a completely opposite conclusion:
This is not a mistake; it is intentional, and it may be APRO's most ruthless moat at present.
The story begins with a private chat. At the end of November, I had coffee with APRO's anonymous core contributor 'zero', who casually said, 'What we fear the least is others being faster than us; what we fear the most is others being as accurate as we are.' He then showed me an internal table: the probability curve of liquidation cascades for the same asset under different latency thresholds. The conclusion is shocking:

On November 15, 2025, I came across a subtle announcement in the Falcon Finance (FF) Discord channel: USDF has officially integrated into the platform's 'Liquidity Bridge Module.' At that time, I was struggling with a cross-chain arbitrage strategy—holding USDC on Solana and wanting to bridge it to Ethereum to earn Aave's lending returns, but the gas fees and slippage consumed half of my profits. As soon as the announcement came out, my eyes lit up: USDF, Falcon's native stablecoin, touted as 'fully collateralized synthetic USD,' can seamlessly bridge multiple chains and offers built-in yields?
I didn't think much of it and directly threw 100,000 USDC into FF's USDF minting pool. The process was as simple as ordering takeout: connect the wallet, select the collateral asset (supporting BTC, ETH, SOL, and even TON), the system calculates the collateral ratio in real-time (minimum 116%), and mint with one click. A few minutes later, I had 100,000 USDF on hand, worth 1:1 pegged to the dollar, with volatility so low it was almost negligible.