Attending was Chris ‘Jinx’ Jenkins, Head of Operations at PNF and Cryptocorn, Board Observer.
What is the latest with the agentic marketplace and do we have an update/listing date for Coinbase Bazaar?
We are waiting on Coinbase to approve our business account. Business accounts are much easier and quicker to get approval for than exchange listings, and our lawyers have already submitted our certificate of incumbency and good standing.
Our soft date for launch is the 15th September, but this is dependent on Coinbase approving our account and other factors that we are reliant on 3rd parties for, so should not be taken as a definitive launch date but as a target date.
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You mentioned on a call that you hoped to get to 50/50 CUs by the end of the year from Blockchain requests Vs Agentic calls, can you expand on that?
One of the primary reasons we are focusing on agentic traffic is the increase in revenue that it offers over blockchain relays. For example:
Single Eth relay: $0.0000016952
Agentic relay: $0.005
This is almost a 3000x difference in price.
PNF’s target is 10mn/day relays by End of Year. This would be a target of $20mn annual revenue.
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There’s been a recent growth in WebSockets request, do we know why and any other details about this growth?
WebSockets was always the preferred method to use by our customers, but until recently it wasn’t properly supported by Pocket and the Node Runners. Otto spent time bringing the service up to par and now ~50% of Node Runners support WebSockets. This has led to an increase in uptake as the product is more useable.
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Good to see Blockchain CUs continue to grow, now to ~3 trillion or so CUs. Can you give more information on the economics and PNF’s involvement?
The Foundation is the single largest staker in the ecosystem, staking around 30 - 35% of total POKT. From the rewards generated by staking, part of this is used to help pay for the free-tier used to onboard clients. As agentic use takes off, the free tier will be throttled down and users will be encouraged to switch to the fee-tiered options.
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On to costs. What is our current runway, what is our extended runway and what are the latest numbers on when we think we break-even, in terms of CUs requested daily?
PNF has a runway at current expenditure for 6 months, until March 2027. PNF has not sold any POKT for some time, and is not planning on selling any POKT while the price is lower than $0.015.
Additionally, PNF has over 100 million POKT in its treasury and the POKT treasury has been growing.
1 million Agentic calls/day would be enough for PNF to breakeven. For sales over 1 million calls per day, PNF will be aggressively buying POKT with the additional capital. This is in addition to the 2.5% POKT burn of all network usage.
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Tell us more about the hackathon in September?
The focus is for entrants to generate a micro-service for POKT this is not blockchain based. The top 3 will have their App Stakes managed and funded by PNF and added to the suite of services offered by the PNF portal. Winning teams will then be ‘Source Owners’ making 3% of all traffic sent to the network, and can make additional money by running nodes supporting their own services.
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Will PNF build any services to sit on the new agentic marketplaces directly?
Yes, aggressively so. PNF is working to build a Utilities suite, and is currently evaluating 300 services to add, all non-blockchain based.
Once the Coinbase Bazaar agentic services rollout has been completed and is stable, PNF intends to deploy 3-5 services a week, and target 1-2 new marketplaces a month. BSC is the expected 2nd market as it hosts 300k+ registered agents.
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Thoughts on facilitating 3rd party investments into 3rd party services that primarily use Pocket, like NodeGhost?
PNF is looking to make it much easier for 3rd parties to use the Pocket Network, with offerings like Sage and PAP. The goal is to offer a 1-line-of-code home package manager installation to connect to Pocket. PNF will also open source the agentic portal software itself and expects dozens of agentic portals to be spun up.
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Can you shed any light on the new staking model proposed?
PNF wants to offer lighter nodes for micro-services that don’t need the more powerful infrastructure and technical/financial commitment that full nodes currently need. Ramiro has been modelling this out, but light nodes with 10k/15k POKT staked should increase the viability of using Pocket for customers who don’t need a full node offering.
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Overall:
PNF is 100% focused on the Agentic rollout and becoming the Amazon of Agentic data services.
50% of all current internet traffic is agentic and that is expected to grow to 90% in the next few years. PNF wants to offer hundreds if not thousands of services for agents, which offer ~3000x revenue compared to blockchain RPCs.
