AI browsers are a major trend in AI applications this year—OpenAI's newly launched Atlas, the $18 billion valued Perplexity Comet, and others are all vying for information entry points. The most anticipated project now is Donut, which focuses on AI browsers + AI financial trading. Why can Donut stand out in the AI browser space: 1. The browser as an Agent channel—open Donut, and the agent can execute all operations on-chain, eliminating the need for users to switch back and forth; all payments and transactions are completed in the same window. 2. The big brother of AI DEX—after Perp DEX, it's become very difficult to make money with traditional trading. Donut deeply integrates AI with DEX, offering real-time risk control and automatic rebalancing, making it more suitable for the perp market's operational model. 3. Strong support from top AI funds—Donut's investors have also invested in leading AI + Web3 projects like OpenAI, Manus, Genspark, etc. They fully understand the "AI×Web3" logic coming out of Silicon Valley. 4. A commercialized closed-loop ceiling—over the past 30 years, browsers have worked for Google, and now users are willing to pay for AI. Donut organically integrates trading AI with browsers. Donut has a unique positioning and scarce targets, making it worth keeping an eye on.