Kite

• Kite is a Layer 1 built for AI agents to transact autonomously, with verifiable identity and programmable spending rules.

• It targets machine-to-machine payments where agents pay for services without human approval per transaction.

• KITE is the network token.

• Supply allocated across community, ecosystem and investors.

• Used for transaction fees, staking and governance.

Pros:

• Agent payments are a plausible near-term need as AI systems begin purchasing services.

• Programmable spending limits address the obvious safety concern.

• Identity layer distinguishes agents from each other, which general chains do not.

Cons:

• The agent economy is anticipated rather than existing.

• Existing payment rails could add agent support without a new chain.

• Early stage against a speculative thesis.

• Exposure to machine-to-machine payment infrastructure.

• Spending controls are a sensible answer to a real concern.

• Weigh that the demand is forecast rather than observed.

• Verifiable agent identity combined with programmable spending limits, so an autonomous agent can transact within bounds its owner sets.

• An AI agent that can spend needs identity and limits, or it is either useless or dangerous.

• Building both into the chain makes autonomous payment safe enough to permit.

• Backed by PayPal Ventures, General Catalyst and Coinbase Ventures.

• Core contributor identities are partially public.

• No public ICO. Distributed via Binance ecosystem programmes and airdrop in 2025.

• The agent economy may not develop as anticipated.

• Existing payment networks could serve the use case without a new chain.

• Early stage with limited production usage.

• Token unlocks over several years.