5-layer agent-economy stack and the core mechanisms
the 5-layer stack
5. Governance — Agentic DAOs
4. Settlement — ERC-4337 account abstraction
3. Cognition — LLM + RAG + MCP
2. Identity — W3C DIDs + reputation
1. DePIN — Bittensor · Akash · Render
production networks (April 2026)
Bittensor (TAO)
subnets reward task-specific models; stake-weighted scoring
Fetch.ai / ASI
ASI-1 Mini LLM; FET token for agent-to-agent payment
Gonka
transformer proof-of-work; verifiable inference tasks
LaMAS (AAMAS 2025)
decentralized multi-agent system with Shapley attribution
three core mechanisms
Shapley attribution
fair credit allocation; sample N permutations for N>6 agents
axioms: efficiency, symmetry, linearity, null
Second-price auction
truthful under monotone aggregation (Google Research)
winner picked by bid; pays second-highest
Reputation capital
DID-bound score with exp. decay; slashed on verification failure
cheap to read (routing); expensive to forge (accumulation over time)