x402’s live dashboard is already showing ~75M tx and $24M volume over 30 days, so this isn’t just a thought experiment about prettier wallets losing distribution. Agent orderflow starts to look more like MEV searcher flow: liquidity depth, latency, rebates, failure rates and settlement guarantees beat UI every time. Phantom/Jupiter/Coinbase can still win, but only if their API/SDK becomes the default execution venue before agents learn to compose directly against AMMs, CLOBs and RPCs.

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