Agent Bonds

Thesis

Agent Bonds tokenizes future agent revenue into investable assets.

LPs provide upfront capital to bootstrap agents, while all agent revenue — from x402 pay-per-use endpoints and subscriptions — is routed directly into onchain vaults and redeemed by LPs pro-rata (based on share price).

All cashflows are transparent, verifiable, and settle onchain.

Overview

Agent Bonds turns AI agents into investable assets.

• LPs provide upfront capital to agents
• Agents generate revenue via paid endpoints (x402) and subscriptions
• All cashflows are routed onchain into vaults
• Investors receive returns based on actual usage

Demo: https://agent-bonds.vercel.app/

Model

LP capital → Agent → Revenue → Vault → Investors

Each agent issues onchain vault shares backed by its future revenue, with a fixed-term maturity.

Trustless Flow

No backend custody. No operator routing.

• x402 payments go directly to the vault (payTo = vault)
• subscription payments settle onchain
• all revenue is transparent and verifiable

User → Vault (direct)

Share Model

Uses a share price model:

• deposits receive shares based on current vault balance
• later deposits get fewer shares if revenue has accrued

shares = deposit * totalShares / vaultBalance
payout = vaultBalance * userShares / totalShares

This prevents dilution and removes free-riding.

Run Locally

1. Contracts

forge install
forge test

Deploy:

forge script script/Deploy.s.sol --rpc-url <RPC_URL> --private-key <KEY> --broadcast

2. Backend

cd backend
npm install
npm run dev

Configure .env:

RPC_URL=
CHAIN_ID=84532
USDC_ADDRESS=
REGISTRY_ADDRESS=
VAULT_ADDRESS=

3. Frontend

cd frontend
npm install
npm run dev

Notes

• Update .env after each redeploy
• x402 flow currently uses header-based verification (demo mode)
• Payments must be sent in USDC on Base / Base Sepolia