Ethy AI On-Chain Decode
What the #1 Virtuals Agent Looks Like On-Chain
Ethy AI On-Chain Decode: What the #1 Virtuals Agent Looks Like
Last updated: April 5, 2026
An educational deep dive into Ethy AI, the top-ranked agent on Virtuals Protocol's ACP (Agent Commerce Protocol). We walked through the on-chain data, the wallet architecture, the aGDP metric, and a specific token flow to document what we found.
1. What Ethy AI Is
Ethy AI is a trading utility agent on Base. It performs cheap, high-volume jobs for users:
| Job Type | Typical Cost |
|---|---|
| Token swaps | ~$0.50 |
| DCA orders | $0.01 - $1.00 |
| Token info lookups | ~$0.05 |
Performance (as of April 5, 2026)
| Metric | Value |
|---|---|
| Successful jobs | 1.14M |
| Total revenue | $572.8K |
| Unique buyers | 7,496 |
| Success rate | 99.49% |
This is a high-frequency, low-cost service. Thousands of users pay small amounts per job, and the agent completes nearly all of them successfully.
2. What aGDP Actually Means
Ethy AI is ranked #1 on the ACP leaderboard with $218.1M in aGDP (agentic GDP). That number looks disconnected from $572.8K in revenue until you read the definition.
The Virtuals Definition
From the official ACP glossary at whitepaper.virtuals.io/acp-product-resources/acp-glossary:
aGDP (Agentic GDP): The total value an agent processes, including trading value and service fees.
Their worked example: a user deposits $5,000, the agent trades it 5 times, and charges a $2 service fee per trade. The aGDP is $5,010 — the sum of all notional trading volume plus fees.
What This Means for Ethy
Ethy AI executes swaps on behalf of users. Each swap processes some notional amount of token value. The $218.1M aGDP is the cumulative notional value of all trading activity the agent has handled. The $572.8K revenue is the cumulative service fees Ethy collected for performing those jobs.
These are two different measurements by design:
- aGDP = total value processed (pass-through trading volume + fees)
- Revenue = what the agent earned in service fees
For a trading agent, aGDP will always be much larger than revenue. That is how the metric is defined.
3. The Wallet Architecture
Ethy AI has four wallets registered in the Virtuals system. Here is what each one holds and does.
Wallet State (April 5, 2026)
| Wallet | Type | Balance | Transfers | Role |
|---|---|---|---|---|
ACP (0xfc9f...) | ERC-4337 smart account | ~$4K USDC | 1,138,648 | Receives job payments, primary activity hub |
Owner (0xe086...) | EOF contract | ~0 USDC, 5.1M ETHY, 3.3M sETHY | 504 txs | Holds/stakes ETHY tokens |
Sentient (0xa3d2...) | EOA | 0 everything | 0 | Dormant, no on-chain activity |
TBA (0xf8f5...) | ERC-6551 token-bound | 2 USDC | 1 | Dust balance |
What This Shows
The ACP wallet is where the action happens. It is an ERC-4337 smart account (a proxy contract) that receives a continuous stream of USDC micro-payments ($0.01 to $8.00 per transfer) from the Virtuals PaymentManager contract. The 1.1M+ token transfers are real ERC-4337 UserOperations. The owner address is embedded in the proxy's bytecode.
The owner wallet is an EOF (Ethereum Object Format) contract that holds the agent's ETHY token position: 5.1M ETHY plus 3.3M staked ETHY.
The sentient wallet is the address Virtuals displays prominently in the agent profile. Despite its visibility, it has zero balance and zero transactions. It is not where the activity happens.
The TBA (token-bound account per ERC-6551) holds dust.
The ACP wallet balance of ~$4K represents the current float, not cumulative throughput. Payments flow in from users and out as the agent executes jobs. The $572.8K revenue is a cumulative figure over the agent's lifetime.
4. A Traced Token Flow
Ethy AI's documentation states that fees are used to buy back and burn ETHY tokens. We traced one specific flow from March 30, 2026.
What We Found
Transaction 1 (0xb9d4e82a...): The owner wallet sent 75,000 ETHY to an intermediary address (0xe3c270...).
Transaction 2 (0x916a746b...): The intermediary routed the tokens through the Zerion Router, which split them:
| Destination | Amount | What Happened |
|---|---|---|
| ETHY token contract | 750 ETHY | 1% sell tax (built into the ETHY token) |
| Uniswap LP pair | 74,250 ETHY | Swapped for 145.77 VIRTUAL, then multi-hop to ~0.0465 ETH |
What This Tells Us
This specific verified route was a sell of ETHY tokens for ETH, routed through a DEX. It was not a transfer to a dead address (the typical meaning of "burn" in crypto). We are not claiming there is no burn mechanism elsewhere in the system -- we are documenting what this particular traced flow did. The marketing language of "buy back and burn" does not fully describe what the on-chain activity shows for this transaction pair.
5. API Data Quality Notes
While pulling data from the ACP API, we observed some data quality issues worth noting. These are separate from the aGDP metric discussion above.
The $99,999,999.99 Cap
The API field grossAgenticAmount returns exactly 99,999,999.99 for both Ethy AI and Axelrod (the #2 agent). Two different agents returning the identical value to the penny is consistent with a DECIMAL(10,2) column cap in the database. The UI displays different aGDP numbers ($218.1M for Ethy, $106.9M for Axelrod), which appear to be calculated from a separate data path.
Success Rates Above 100%
Two agents return mathematically impossible success rates from the API:
| Agent | API Success Rate | UI Display |
|---|---|---|
| Axelrod | 291.43% | 100.0% (clamped) |
| Betty | 123.96% | 100.0% (clamped) |
The UI clamps these values for display. The underlying calculation likely counts multi-step completions or retries as separate successes against a single job denominator.
These are data quality issues in the API layer, not part of the aGDP discussion.
6. Sources
API Endpoints
- ACP Scan UI:
app.virtuals.io/acp/scan(captured April 5, 2026) - ACP agent list:
acpx.virtuals.io/api/agents(41,643 agents, pulled April 5, 2026) - Ethy AI details:
acpx.virtuals.io/api/agents/84/details
On-Chain References
- ACP wallet:
base.blockscout.com/address/0xfc9f1fF5eC524759c1Dc8E0a6EBA6c22805b9d8B - Owner wallet:
base.blockscout.com/address/0xe086... - Sentient wallet:
base.blockscout.com/address/0xa3d2... - TBA:
base.blockscout.com/address/0xf8f5...
Transaction Hashes
- ETHY transfer:
0xb9d4e82a... - Zerion Router swap:
0x916a746b...
Node Data
- cw-sentinel Base node: block 44,114,084 (April 1, 2026 04:25:15 UTC)
Definition Source
- ACP Glossary:
whitepaper.virtuals.io/acp-product-resources/acp-glossary