#kite $KITE @GoKiteAI

Kite AI ($KITE) is a purpose-built, EVM-compatible Layer 1 blockchain designed specifically for the "agentic economy." Backed by PayPal Ventures, it provides the essential infrastructure for autonomous AI agents to operate, transact, and collaborate securely.

Here is a 100-word overview of the protocol and its token:

Kite AI ($KITE) Overview

Kite AI is the first blockchain dedicated to autonomous AI agent payments. By utilizing the Proof of Attributed Intelligence (PoAI) consensus mechanism, the network ensures fair rewards for data providers, model builders, and agents. It provides agents with "Agent Passports" (on-chain identities) and uses the X402 protocol for near-instant, sub-cent micropayments.

The $KITE token is the ecosystem's heartbeat, featuring three primary roles:

* Payments: The native currency for AI services, compute power, and data feeds.

* Staking: Required for validators, delegators, and module owners to secure the network.

* Governance: Holders vote on protocol upgrades and resource allocation strategies.

Key Metrics & Backing

* Total Supply: 10 Billion $KITE tokens.

* Investors: Led by PayPal Ventures and General Catalyst, raising over $33 million.

* Architecture: Built as a high-speed sovereign chain on Avalanche for institutional-grade scalability.

* Identity: Features a unique three-layer identity system to separate