11.11 AI Daily Report: The DeFi ecosystem is facing transformation, and the Uniswap proposal is leading a new direction for the industry.

1. Headline

1. Uniswap proposal ignites DeFi craze, UNI surges 40% attracting industry attention

Uniswap Labs and the Uniswap Foundation jointly launched a governance proposal aimed at activating the protocol fee switch and establishing a long-term operational model. The core content of the proposal includes activating the Uniswap protocol fee switch and using the fees to burn UNI, incorporating Unichain sorter fees into the same burning mechanism, establishing a protocol fee discount auction to increase LP yields, launching Aggregator Hooks to make Uniswap v4 an on-chain aggregator, and burning 100 million UNI from the treasury.

The proposal sparked heated discussions in the industry as soon as it was released. The UNI token surged nearly 40% to $9.6 on the same day, driving a general rise in the entire DeFi sector. Analysts believe that this move is expected to align token burns and incentives, making the protocol's activity levels more directly reflected in the UNI market performance, injecting new growth momentum into the protocol. However, there are also concerns that reducing LP yields may lead to liquidity shifting to competitors. Overall, Uniswap's adjustment is seen as an important step in the development of the DeFi ecosystem, leading the industry into a new phase.

2. The U.S. Senate Agriculture Committee has proposed a cryptocurrency regulation bill that grants new powers to the CFTC.

The chairman of the U.S. Senate Agriculture Committee, John Boozman, along with Senator Cory Booker, jointly released a draft legislation for regulating the cryptocurrency industry. The core of the draft is to grant the Commodity Futures Trading Commission (CFTC) clear regulatory authority over the digital commodity spot market, requiring major cryptocurrency spot platforms to register with the CFTC and implement measures such as anti-fraud, record-keeping, fund segregation, and dispute resolution.

The draft defines digital goods as “any interchangeable digital assets that can be directly owned and transferred by individuals without relying on intermediaries,” establishing a CFTC regulatory framework for these assets. However, the draft contains multiple parentheses that reflect “unresolved issues”, with the lack of CFTC resources and conflicts of interest involving the Trump family being the biggest obstacles. Analysis indicates that the draft is expected to promote the normalization of the cryptocurrency market, but issues such as regulatory resources and conflicts of interest still need to be addressed.

3. The Ethereum Foundation advances the AI roadmap, ERC-8004 becomes the focus.

Davide Crapis, the head of the dAI team at the Ethereum Foundation, stated that they are working with the foundation's management to develop a roadmap for 2026. The goal is to build Ethereum as a global decentralized settlement and collaboration platform for AI, allowing autonomous intelligent agents to interact with identities, assets, and data under publicly auditable rules.

Crapis expresses gratitude to the expanding community surrounding the ERC-8004 and x402 protocols, stating that these two standards are becoming the neutral norms for “agent business”. The article mentions that ERC-8004 is used to standardize agent identity, reputation, and cryptographic validation, with over 150 projects currently built on it. The dAI team has also contributed the x402 protocol, which supports authenticated paid network requests.

Analysis suggests that the Ethereum Foundation's AI roadmap reflects the development trend of the integration of blockchain and AI. The continuous advancement of ERC-8004 and x402 will lay the foundation for the combination of AI and W. However, collaborative efforts are still needed from all parties to avoid the dominance of closed platforms or centralized institutions in the emerging AI economy.

4. JPMorgan Warns AI Craze Could Reignite Internet Bubble

JPMorgan's latest report points out that AI hyperscale computing operators are fully committed to expanding data centers, with plans to deploy over $5 trillion in funding within the next five years. Analysts estimate that just the investment-grade corporate bonds will require raising $1.5 trillion, an amount so large that it is almost akin to “moving the entire global bond market out.”

The report suggests that, despite the enthusiastic influx of funds, the AI investment boom may repeat the mistakes of the 2000s dot-com bubble. A senior advisor from the bank's global market research team stated that as the AI investment boom continues, the imbalances accumulated in the 1990s will become more apparent.

Analysis indicates that the AI construction frenzy reflects the industry's optimistic expectations for the future of AI. However, we should also be wary of bubble risks, and investors need to treat this wave of enthusiasm with caution. Overall, the development prospects of AI are broad, but they are not without risks; rational investment is of utmost importance.

5. The fall of the king of cryptocurrency, SBF is sentenced to life in prison.

Sam Bankman-Fried, the founder of the once high-profile cryptocurrency exchange FTX, has been found guilty on all charges. This former billionaire now faces the possibility of life in prison, marking the complete downfall of the king of cryptocurrency.

FTX filed for bankruptcy protection in November 2022, which triggered turmoil in the industry after the incident was exposed. Prosecutors accused SBF of committing illegal acts such as fraud, money laundering, and illegal short selling through FTX. After months of hearings, the jury ultimately found SBF guilty.

This conviction has far-reaching implications for the cryptocurrency industry. Analysts believe that the event once again highlights the necessity of regulation and is expected to promote the normalization process of the industry. However, there are also concerns that the SBF incident may exacerbate investors' distrust in cryptocurrencies, hindering industry development. Overall, the fall of the king of cryptocurrencies has opened a new chapter for the industry, and future development still requires time to observe.