Project Name, incubated by Magic Labs, is dedicated to building an extension protocol named Project Name, aiming to become a key trust layer for on-chain autonomous financial transactions. Their goal is to provide authentication, authorization, and verification for agent-driven transactions. The project is backed by Magic Labs' existing massive user base and impressive community data, such as nearly 600,000 followers on the X platform and over 500,000 daily active users on the Project Name Portal.
The team plans to launch a consumer wallet product in May 2025, followed by the testnet of the keystore protocol in June or July of the same year. The token TGE is scheduled for May 15, 2025. Project Name has completed multiple funding rounds totaling over $87 million, attracting renowned investment institutions including Lightspeed, Placeholder, Northzone, Paypal Ventures, and Polygon Ventures.
Although the project's valuation is quite high—with a public round valuation of $300 million and a recent SAFE round valuation reaching $500 million—and the product has not yet officially launched, the team background and existing user base are strong positive factors. Therefore, I recommend this project.
The vision of the Project Name protocol is to become the "Co-pilot" of the cryptocurrency space. It combines a chat interface similar to Telegram bots or ChatGPT with powerful on-chain automation features. Users can interact with agents through natural language to manage financial activities across applications, protocols, and blockchains, which undoubtedly significantly lowers the user barrier.
The core of Project Name is its protocol layer, a rollup specifically designed for the authentication, authorization, and verification of all agent-driven transactions. It primarily enhances trust and security in autonomous finance through three major innovations:
According to the project's roadmap, an MVP version will be released in Q2 2025, demonstrating automation and local agents based on session keys; Q3 plans to migrate to ZK Rollup to enhance performance; plans for Q4 and beyond will be officially announced in May 2025. Currently, the product has not been released, and the actual progress lags behind some of the initial conceptual milestones.
The Project Name team believes that the main obstacles to current cryptocurrency adoption are poor user experience and coordination complexity, as well as a general lack of trust and security in automation solutions. Existing automation tools like Telegram bots often require users to hand over full control of their assets, which is extremely high-risk. Meanwhile, there is a lack of infrastructure components for AI agent developers. Project Name aims to solve these pain points through its protocol by providing secure cross-chain execution, verifiable automation, and protocol-level trust.
There are several similar or related projects already in the market: