Token transit station for the encryption of Bear City business guide: token for AI Token
THE PRICE DIFFERENTIALS ARE STAGGERING AND THE NATIONAL PRODUCTION MODEL API CAN BE SOLD WORLDWIDE。
The original Odaily Daily Planet@OdailyChinaI'm not sure
Author Wenser@wenser2010I'm not sure
After the first round of the Encoded Bear Business Guide explored the market for pre-share price differentials, Kalshi completed the $22 billion valuation round of financing, and its market position rose。
AND THE SECOND DIRECTION OF THIS SERIES FALLS INTO A MORE EVERYDAY, MORE HIGH FREQUENCY, AND MORE EASILY IGNORED BY ENCRYPTED FIRST NATIONS WHO ARE DAILY ASSOCIATED WITH AI -AI Token transit stationI don't know。
THIS TRACK IS NOT NEW. IN THE PAST TWO YEARS, THERE HAS BEEN A SURGE OF DOMESTIC AND FOREIGN TRANSIT SERVICES FOR "LOW PRICES API" SELLING POINTS, FROM THE 9.9 MILLION-MOON CARD FOR IDLE FISH TO "STABILIZED CHANNELS" PASSED THROUGH VARIOUS COMMUNITIES OF DEVELOPERS, A BUSINESS THAT IS ALREADY BEYOND THE IMAGINATION OF MOST PEOPLE. BUT FROM THE PERSPECTIVE OF THE ENCRYPTION MARKET, IT HAS TWO HIGHLY UNDERESTIMATED DIMENSIONS:First, the purchase of AI Token directly in encrypted currency (Crypto Token) is a structural entry point that has not yet been fully developed; and second, the sale of cheap models such as Qwen, Kimi, GLM, Minimax in package to overseas users is a “reverse output” path that has not yet been mainstreamed
In the post, we will also refer to the cross-border transition from OpenSea in 2022 to Alex Atallah, the “elite entrepreneur” who left with the decisive departure of OpenRouter. Not because of the legend of the project itself, but what matters is that it opens up a new and seriously underestimated business line of thought for encryption ring entrepreneurs — the bridge between Cripto Token and AI Token that has not yet been truly reached。
There is also a gap between Token and Token: the bottom structure of the AI x Cripto rotation door
The AI Token transit station is by nature an API polymer relay layer. Users get a single key through the platform, which forwards requests to official channels such as OpenAI and Anthropic。
Demand is real: circumventing credit card registration thresholds and reducing access costs. Looks like a low threshold, but it's really deep inside。
ACCORDING TO THE STUDY TEAM'S TESTS OF 17 THIRD-PARTY API PLATFORMS, 45.83% OF THEM HAVE "IDENTITY MISMATCHES" -USERS PAY GPT-4 PRICES, AND THE ACTUAL RUN IS A CHEAP OPEN SOURCE MODEL WITH A PERFORMANCE GAP OF UP TO 40 PER CENT AND MOST USERS ARE UNAWARE。
This explains why many ultra-low-cost platforms are running frequently. It was not an active fraud, it was a mass seal that hit the upstream account pool and the cost structure collapsed instantly. In March 2026, the massive wave of seals triggered by the Claude upgrade was a typical chain reaction。
Three types of "white" business contract formal purchases, "grue" bulk register pool, "black" black card full or stolen. Most overpriced platforms rely on the latter two。
Users seek low prices, which are backed by unstable sources of goods and hidden data risks. This contradiction is currently unresolved。
Token Transit Station 3 Gate: Regular army, collaborator and single soldier
OpenRouter is the most interesting case in this track. Founder Alex Atallah, OpenSea, co-founder and former CTO, Stanford CS Background, YC and HFC-0 Bisket Alumni, Forbes, one of the first NFT billionaires. OpenSea was created in 2018 with Devin Finzer and one of the most representative wealth accumulations in the encryption industry in 2021. 2022 The NFT market entered a long recession and Atallah turned war on AI infrastructure。
FROM THE "UNIFORM TRADING LEVEL" IN THE NFT MARKET TO THE "UNIFORM ROUTE LEVEL" IN THE LLM, THE PRODUCT'S INTUITION IS CONSISTENT -Establish a standardized aggregation portal on the supply side of fragmentationI don't know。
OpenRouter now has access to more than 60 reasoning service providers, 300+ models, more than 4.2 million users worldwide, and more than 250,000 access applications. A single OpenAI compatible interface with minimum friction access to any mainstream model。
In addition, Cripto's payment path is an area where few people are involved。
Openrouter platforms have rarely opened channels to purchase Credits in encrypted currency through Coinbase Business Checkouts, and users can fill it directly with the USDC/ETH chain without having to go through traditional banking channels. Of course, the Cripto payment channel will charge an additional fee of about 5 per cent, but the premium is acceptable for users who avoid traditional friction payments。
OpenRouterI'm sorryI don't knowi'm not sure if i'm going to be able to do this, represents the three entry postures of the current course。
OpenRouter takes the "encrypted native + global developer" route, the core card is compliance and the founder's credit. APIMart differs in the depth of multi-modular coverage and the integration of national production models, with access to series Qwen, ByteDance and so on, and is particularly friendly to back-to-sea strategies. cabbagewwc represents the closest route from the domestic model to the domestic model, with the localization of the tillage operation and the RMB pricing service。
Together, they constitute a complete value chain from source procurement, convergence of agreements to encrypted payments. There is no player on this chain that can really get through all the links。
Token Reverse Output Path: Selling the Domestic Price Model to the World
If Crypto's payment is "entry differential", then reverse shipping is "source differential"。
The margin of profit for the latter is naturally even more striking in the light of attempts to make profits from processing far greater than from crude processing。
Using early 2026 data as a reference: Qwen3.5 million Token prices are as low as 0.8 yuan renminbi, approximately 0.11 US$, which is 1/18 for Gemini 3 Pro and is 27 times higher than the $3 input price of Claude Sonet 4.6。
GLM-5 achieved 77.8 per cent on the programming benchmark SWE-Bench Verified, surpassing Gemini 3 Pro and approaching Claude Opus 4.5, the API price being only a fraction of the latter. Kimi K2.5 has been online for nearly 20 days with cumulative income exceeding the full year of 2025。
The availability of these models abroad is relatively low: registration thresholds, payment restrictions, language interfaces, and poor information from overseas developers about the capabilities of national production models constitute an invisible barrier to access。
This is the space for survival of the reverse offshore transit station。
For specific operations, consideration might be given to exposing OpenAI compatible interfaces to the bulk purchasing model API levels in the RMB at domestic level, using the protocol conversion layer, for sale to overseas developers and start-up teams at USDT/USDC prices. The Ali Yunpung Company Coding Plan provides a cost reference: Qwen3.5, GLM-5, Mini Max M2.5, Kimi K2.5, four large models are packed, and new users need only HK$ 7.9 for the first month, i.e. 18,000 requests. Map to overseas markets for sale at United States dollar prices, with considerable profit margins。
3 on the back of opportunities: funding, resources and compliance thresholds
Don't sing too much. There are a number of thresholds that must be confronted before the business really falls。
Funding thresholds。The bulk procurement of the domestic model API scale, the build-up of the technology repeater layer, the maintenance of overseas servers and the Cripto payment route require prior capital input. More crucial is liquidity management — exchange rate fluctuations and cross-entry frictions between the collections of Crypto and the RMB payments, with no mature liquidity programme and a high degree of liquidity problem。
Resource channels。API procurement channels are core assets. Formal channels mean establishing business cooperation with model manufacturers or cloud platforms, which takes time and qualifications; account-pool routes are exposed to ongoing seal risks and compliance risks. At the same time, the ability of overseas users to reach is equally essential - The cold start-up of Twitter/X, Reddit, Discord, Telegram and others is a real barrier to teams that do not have operational experience in overseas communities。
Legal compliance。Risks come from both ends. Re-sale restrictions for model service provisions, with the vast majority of mainstream manufacturers explicitly prohibiting API commercial resale, and the account pool model remains at risk of default at the legal level. Data security and cross-border compliance, with the sale of national model services to overseas users involving data exit compliance requirements, require careful assessment in the current regulatory environment. Carno collections may also trigger VASP licensing requirements in some jurisdictions。
another point is that there is sufficient evidence in the industry that some of the transit platforms package user prompt data for model training. this is not only a legal risk, but also a direct destruction of the user ' s trust in commercial mines once exposed。
The threshold is not technical, but resource integration and risk management. The teams that can do these four things at the same time — the domestic cheap model procurement channel, the OpenAI compatibility agreement conversion, the Cripto payment channel, the overseas user operation — are virtually non-existent in the market。
This is both an opportunity and a real challenge。
From substitute to Token, AI sales charts are expanding
From Alex Atallah to creating OpenRouter after NFT's retreat, to a group of domestic developers. The very existence of this business, which has been a realistic answer to the question of what survives in the bear city, is that it does not rely on Token, it does not rely on financial narratives, and it generates real income from real API calls。
Deep water does not mean you can't swim. The key is to clear the depth of water before it goes in。
Recommended reading
Encryption of Bear City Entrepreneurship Guide first round: Pre-share price difference market
