$SHELL oversubscribed 40 times, it's time to understand Myshell's products and token economics

Written by: Deep Tide TechFlow

Today's focus is on Myshell's token $SHELL.

With CZ's return and the rise of Meme on the BSC chain, the $SHELL token IDO conducted today on Binance Wallet and Pancakeswap has also attracted considerable attention and real investments.

Under the issuance rule of "planning to raise $800,000 BNB, issuing 40 million $SHELL tokens, accounting for 4% of the total supply," as of the time of writing, the IDO has been oversubscribed nearly 42 times, reflecting the high market participation willingness.

At the same time, discussions on social media are visibly increasing rapidly.

The real reason people are willing to participate is the foreseeable money-making effect.

Calculating based on 4% of the $SHELL token raising $800,000, the total market value set for this IDO is only $20 million; according to KOL @EnHeng456 , data shows that Myshell's total public financing in three rounds has already reached $16 million, so the market value of the last round of SHELL should also be between $150 million and $300 million.

In other words, theoretically, getting in means making a profit.

More importantly, Myshell is not just an air AI Meme; it currently has the capability to create new AI Agents and tokenize them on its available product platform.

The rapid rise of Virtuals is still fresh in memory. Against the backdrop of the AI Agent track facing a reshuffle and Binance seemingly intending to support the ecosystem on the BSC chain, will the emergence of MyShell make AI Agents popular again on BSC?

With this expectation, if you are just blindly rushing in without understanding what Myshell is actually doing, here is a detailed introduction to Myshell's products and features to help you plan and judge in advance.

Your AI Toolkit and Market

There is already a lot of ready-made information about Myshell, but most of it is presented from the perspective of AI technology and lofty narratives, which can feel quite abstract.

If you have recently been bombarded with news related to DeepSeek and have tried to interact with it, why not start from the perspective of an ordinary user and see what the final interface of Myshell looks like.

Chat Page Integrated with Mainstream AI Models

Opening Myshell's product page , you can clearly feel that one of its main functions is the AI chat dialogue you are very familiar with.

One good point is that Myshell has integrated various mainstream AI models, such as GPT, Claude, and the recently popular Deepseek.

You can start a conversation by directly entering text in the chat window, and like other AI pages you have used, there is almost no learning curve; you won't feel that this is a Web3 project. However, it is worth noting that each conversation requires a certain amount of points to be consumed.

AI Tool Market

Not only can you chat with the aforementioned mainstream models, but you can also interact with AI Agents created by other users in Myshell, each with its own different functions and usage scopes.

For example, if you want to transform a photo into the style of the GTA game, you can choose one of the GTA Filter tools, upload an image in the chat window, and the tool will instantly replace your photo with a GTA style.

There are many similar tools, including more practical tools in various fields to enhance productivity, such as optimizing SEO, studying for IELTS, writing articles, and modifying code. You can understand it as a store built into GPT.

Official data shows that there are already over 200,000 AI intelligences deployed on the platform, and the ecosystem is still rapidly developing.

Creation Workshop: Modular Build Your Own AI Agent

If you want to create an AI Agent yourself, you can also use Myshell's creation workshop feature.

Unlike casually making an AI Agent, the component library in Myshell is relatively powerful.

Generally speaking, creating an AI Agent requires calling various existing large models and functions, while Myshell has already integrated over 100 mainstream open/closed source models; in addition, there are several self-developed open-source AI models, with three models already open-sourced on the project's Github , boasting nearly 20K stars.

In other words, if you want to build a house, this block library is clearly more powerful, allowing you to modularly construct your own AI Agent by leveraging the strengths of various models without reinventing the wheel.

This feature may not be so intuitive for ordinary players; for light use, you can directly enter prompts and specify tasks on this creation workshop page while calling Myshell's existing tool library.

For example, if you want to create an AI Agent that can chat with you, just call its voice library and GPT model.

AIPP Store: A Grand Competition for AI Application Tokenization

When you experience this part, you can truly feel the gameplay of Crypto.

The AIPP store is a core component of the MyShell ecosystem, where you can participate in the issuance and trading of AIPP like trading tokens, somewhat similar to the gameplay of AI Agents on Virtuals before.

The AIPP store also adopts a Bonding Curve mechanism, automatically adjusting the price of AIPP through supply and demand relationships.

When users purchase AIPP, its supply increases, and the price rises along the bonding curve; conversely, when users sell AIPP, the supply decreases, and the price falls.

For example, if you are optimistic about a certain AI Agent, you can purchase its tokens with BNB; the creator of this AI Agent can earn a portion of the transaction fees.

In fact, the purpose of this model is still price discovery, encouraging users to discover valuable applications early and spread them to others. Early investors can profit from rising prices while becoming nodes for application dissemination and expanding market influence.

So, what is the use of the $SHELL token?

The total supply of $SHELL tokens is 1,000,000,000, and the token economics are briefly as follows:

In terms of usage, the $SHELL token is closely related to the behaviors of different participants on the entire Myshell platform.

• Token Holder

  Users holding $SHELL tokens can invest/obtain tokens and participate in governance. Token holders can also receive rewards.

• Creator

  Creators earn $SHELL rewards by developing and publishing AI applications (AI Apps). Creators can use $SHELL to purchase data and promote the development of AI models.

• User

  Users pay $SHELL tokens to subscribe to or use MyShell's AI application services. Users can also earn $SHELL as rewards when authorizing data usage.

• AI Model Contributor

  Contributors providing AI models earn $SHELL rewards by contributing models. Contributors can also earn additional tokens through data trading.

• API Developer

  API developers earn $SHELL rewards by contributing tools or services.

  

From a more commercial perspective, Myshell can be seen as an AI service platform, where the token's commercial role is reflected in:

1. Subscription and Membership Services: Users can pay $SHELL tokens to subscribe to high-quality AI tools or receive direct support. This membership model provides users with higher service value while creating stable token demand.

2. Advertising and Promotion: Creators or supporters can spend $SHELL to advertise their AI applications on the MyShell platform, enhancing the visibility and exposure of the applications. This provides creators with market tools while incentivizing the emergence of more high-quality content.

3. Application Collection and Incentives: Users can pay $SHELL to collect AI applications from other creators. During the collection period, users can also receive incentives through $SHELL or other reward mechanisms. This mechanism encourages users to explore and support innovative applications.

4. Products/Services Compensation:

5. Creator Income: Creators can charge consumers $SHELL tokens for access to or use of their developed AI applications.

6. Data Trading: The MyShell platform may directly purchase data from users, paying $SHELL as compensation to further enrich the platform's data resources.

7. Platform Fees: The MyShell platform will charge a certain percentage of $SHELL as service fees for all the above activities. These fees will be used for platform maintenance and further development.

Currently, there are no particularly outstanding projects among the AI Agents on Myshell. Whether more practical or attention-grabbing AI Agents or Memes can emerge in the ecosystem after the token TGE may become an important factor driving the price changes of the token.