The public ledger of machine money
Agentic Finance Graph.
Most registered “AI agents” are empty names. A smaller set already holds stablecoins, pays for compute in USDC, and parks idle cash in vaults. This is the public accounting system for that second set.
Quality rule № 1
We do not count mints. We count economic actors — funded wallets, repeat counterparties, yield parked, policy-bounded spend. — printed on page one, by design
Each person with two or three funded agents is not another chatbot. It is extra economic actors that never sleep — paying per API call, rebalancing idle USDC, and generating transfer volume that card rails cannot price. The graph’s job is to prove that multiplier with public data, not slogans.
- ERC-8004 gave agents a passport. It did not give them a pulse. We measure the pulse.
- EIP-7702 lets a wallet hand its agent a valet key, not the trunk key. We label which is which.
- x402 settles three-cent API calls that cards cannot price. We track who pays the agents.
- Every number ships with its definition, window, chain set, and scrape timestamp.
Machine-money panels
The tape, as it stands.
Live values load from public endpoints and on-chain eth_call reads; when an endpoint is down you see our last timestamped snapshot instead. Nothing here is a projection.
Stablecoin float snapshot 2026-09-04
$311.1B
All stablecoins, all chains. Source: DefiLlama. The pool machine treasuries draw from.
USDC share of float snapshot 2026-09-04
23.9%
USDC circulating: $74.3B. On measured agent rails USDC’s share of payments is ~98.6–99% — a monoculture worth watching.
Native USDC on Base snapshot 2026-09-04
$4.25B
Read live from the token contract via eth_call totalSupply(). Base is the payments gravity well of the agent economy.
IXS Agentic Vault (BNB) snapshot 2026-09-04
$4,347
totalAssets() of the published ERC-4626 vault 0xc975…CB82 — a regulated sink for idle agent USDC.
ERC-8004 registrations cited 2026-09-02
492,792
Across 27 chains, +1,560 per day (8004scan). Registration ≠ agent — see the next tile.
…with a working service cited Jul 2026
2.24%
8,631 of 385,998 registrations had one working service; 89.2% published no standard call method (Token Dispatch / 8004scan). The liveness problem →
AI-agent tokens, top 6 cap snapshot 2026-09-04
$2.23B
CoinGecko “AI Agents” category. Token prices are sentiment, not liveness — we publish both and never confuse them.
DeFi TVL / crypto mood snapshot 2026-09-04
$88.2B · F&G 74
Total DeFi TVL (DefiLlama) and the Fear & Greed index (alternative.me) — backdrop for machine treasuries.
The liveness problem
If the endpoint does not answer, it is not an agent. It is a badge.
A reproducible crawl of all 63,832 Base registrations (through 16 Aug 2026, even sample n=1,204) shows how the funnel collapses between “minted an NFT” and “answers a request”:
Our full ladder runs L0 mint → L5 reach → L6 speaks MCP/A2A → L7 paid → L8 funded → L9 repeat counterparties. Public rankings default to L7 and above; researchers can toggle down to L0. Source: maxguryanov/agent-registry-research; arXiv 2606.26028 finds ~3% (Ethereum), ~4% (BSC), ~15% (Base) with a valid file and a live endpoint. Full methodology →
The stack
Four rails. One graph.
Each standard is an edge type in the graph, not a logo on a slide.
Identity
ERC-8004
On-chain passport, reputation, and validation registries. Live on Ethereum mainnet since 29 Jan 2026, CREATE2-mirrored across chains.
Read the brief →Payments
x402
HTTP 402 machine payments under Linux Foundation stewardship. Tens of millions of receipts, tickets in cents, settled ~99% in USDC.
Read the brief →Policy
EIP-7702
An EOA delegates code in place: batching, sponsored gas, session keys. The valet-key model that keeps agents off the master key.
Read the brief →Vaults
ERC-4626
Tokenized vaults where idle machine cash earns — from DeFi lending to regulated RWA products like the IXS Agentic Vault.
See the graph →Observed, not imagined
What agents actually do with money.
Five live behaviors — ranked by receipt count, not by press release.
01
Pay for tools
APIs, inference, data, MCP tools over HTTP 402. The only behavior with hundreds of millions of receipts. Typical ticket: cents.
02
Hold & move stables
Scoped agent wallets from Coinbase, Privy, Circle, Trust, Turnkey, Cloudflare — USDC in, USDC out, gas sponsored so the wallet never holds a gas token.
03
DeFi copilots
Natural-language swaps, rebalances, perps. Mixed autonomy — many still keep a human in the loop for size. Bankr alone routes >$300M weekly Uniswap volume on Base.
04
Yield on idle USDC
Treasury agents park cash between jobs — DeFi yield routers and regulated ERC-4626 RWA vaults. Strategically bigger than another memecoin sniper.
05
Agent-to-agent jobs
Escrowed work: Open → Funded → Submitted → Completed. Early, but this is how agent GDP becomes more than API micropayments.
⚠
…and get attacked
Prompt injection has already moved six figures. Incidents — policy bypass, retry loops, sanctioned outflows — are first-class entities in the graph, not footnotes.
Hard numbers, honest ranges
The sector, measured.
Sources disagree because they measure different objects. We publish ranges with definitions — never a single vanity number.
| Signal | Value | Window | Source |
|---|---|---|---|
| Agent payments settled | $73M · 176M txs | May 2025 – Apr 2026 | Keyrock, Coinbase, Tempo |
| Average ticket · below card floor | $0.31 · 76% | same window | Keyrock “Who Pays the Agent” |
| USDC share of measured agent rails | 98.6–99% | 2025–2026 | Keyrock; x402 flow data |
| ERC-8004 registrations | 492,792 | as of 2026-09-02 | 8004scan network analytics |
| Registrations with a working service | 2.24% | July 2026 | Token Dispatch / 8004scan |
| Strict live-endpoint rate on Base | 6.8% 95% CI 5.5–8.4% | through 2026-08-16 | maxguryanov crawl, n=1,204 |
| AI agents’ share of Gnosis Safe txs | 37% >75% on peak days | 2026 | Safe ecosystem reporting |
| AgentFi TVL (labeled) | Base $12M · Arb $7M | Q2 2026 | Cambrian landscape |
| x402scan live window | ~26M txs · $1.45M | 30d, obs. 2026-09 | x402scan |
The gap between the $311.1B stablecoin float and low-single-digit millions of labeled AgentFi TVL is the map we are drawing: idle machine cash that is not yet managed. Gartner’s $15T-by-2028 and McKinsey’s $3–5T-by-2030 figures are forecasts — they never appear in our live tiles.
Why a graph, not a dashboard
One public object.
A dashboard shows totals. A graph shows which agent paid which endpoint, which wallet is the same operator on another chain, which vault absorbs idle agent cash, which identity NFT is live versus a badge, and which EOA delegated code to which implementation.
Cambrian writes the map. Explorers show one layer. Agentic Finance Graph joins identity, wallets, flows, yield, reputation, and incidents into one public object — and sells the API back to the agents themselves, over MCP and x402. The index is a participant.
Agent ──REGISTERED_AS──▶ ERC-8004 token
Agent ──BINDS──────────▶ Wallet
Wallet ──DELEGATES_CODE─▶ EIP-7702 impl
Wallet ──HAS_SESSION_KEY▶ Policy
Wallet ──PAYS───────────▶ x402 seller
Wallet ──DEPOSITS───────▶ ERC-4626 vault
Agent ──REVIEWS────────▶ Reputation
Agent ──VALIDATES──────▶ Validation
Agent ──JOBS───────────▶ ERC-8183 escrowQuestions, answered plainly
FAQ.
What is Agentic Finance Graph?
A public graph of AI agents that hold, move, and earn real money. It joins identity (ERC-8004), wallets, payment flows (x402), policy (EIP-7702 delegation and session keys), vault yield (ERC-4626), reputation, and incidents into one object — and publishes every number with its object definition, chain set, time window, and scrape timestamp.
What is agentic finance?
Software that can hold a balance, prove an identity, spend under policy, settle value, and leave an audit trail — with little or no human signature per action. Not AI that talks about markets: machines operating real money, mostly in USDC. Full definition and rails →
How many registered AI agents actually work?
Very few. Of 385,998 ERC-8004 registrations counted in July 2026, only 2.24% had at least one working service, and 89.2% published no standard way to be called. A reproducible Base crawl through 16 August 2026 measured a strict live-endpoint rate of 6.8% (95% CI 5.5–8.4%). Registration is not liveness — which is why we rank L7+ economic actors, not mints.
Why do AI agents pay in USDC instead of cards?
Cards cannot price machine micropayments. Across $73M and 176 million agent payments measured May 2025 – April 2026, the average ticket was ~$0.31 and 76% of payments sat below the $0.30 card-fee floor — while ~98.6–99% settled in USDC. Sub-dollar, high-frequency, machine-to-machine settlement is exactly where stablecoins beat card rails.
What is the L0–L9 liveness ladder?
Our transparent funnel from L0 (a registration exists) through L5 (a declared endpoint answers), L6 (it speaks MCP or A2A), L7 (the bound wallet has actually paid), L8 (funded above dust), to L9 (repeat counterparties over N days). Public rankings default to L7 and above. The full ladder, thresholds, and crawler rules →
Now live
Follow the build.
The weekly Agentic Finance Graph Note ships the funnel, the float, and the incidents — with raw sources. Charts land on X first.
Building an agent wallet, a vault, or a payments rail? Send labeled wallets. You get distribution and a fair, timestamped read of your liveness; the graph gets ground truth. Sponsored listings, if we ever run them, will be labeled as such — the methodology page is the contract.