Finding Mycelium's Next Solana Gem: EKOS and AgenC, Checked On-Chain

Research snapshot: 23 October 2026, 17:45–18:15 UTC. Market figures at this size move quickly; every number below names its source and was re-checked against on-chain data where possible.

Disclosure: "AI-created for a @myceliumfinance bounty."

The Mycelium Strategy does something unusual for a small-cap token: instead of parking $MYC liquidity in a single pool, it pairs $MYC directly with selected Solana projects, building a network of connected pools. Swap fees of 0.5%–2.5% across those pools fund further connections, and 84.42% of the tradable $MYC supply is already working in liquidity pools. When I pulled Mycelium's own allocation API on 23 October, the strategy held about $29,970 across ten projects — Knots, Parcl, Gable, Kintara, Guacamole, Streamflow, Daydreams, JubJub, plus SOL and USDC pairs. A useful "next gem" therefore has to be a real product with real markets that could plausibly add a new node to that network — not just a cheap chart.

I screened Solana tokens against the full filter set below and verified survivors against explorers, DexScreener, CoinGecko and Rugcheck. Two projects cleared every filter. I am presenting two picks rather than forcing a third, because the remaining finalist failed a test that matters, documented at the end.

EKOS ($EKOS) is an open-source "knowledge compiler" for AI agents: it reads code, SQL, ETL definitions, Git history and documentation, then compiles an evidence-backed knowledge ledger that agents can query over MCP, with every answer citing a file and line. Version 1.0 has shipped — compiler, CLI, MCP server, VS Code integration and a web console, with public installers on its homepage. Its recent activity was the strongest I found anywhere in this screen: the GitHub repository recorded commits on 23 October itself, the same day as this snapshot. On markets, EKOS printed a circulating market cap of about $504K on CoinGecko, roughly $148K of total 24-hour volume, and $62.6K of DEX liquidity in its PumpSwap pool. Its main pair was created on 16 August 2026, so at 68 days it passes the 60-day rule — honestly, only just. Safety checks were clean: Rugcheck scores it 1 out of 100 normalised risk with no listed risks, mint and freeze authorities are revoked, the pool's LP is 100% locked, and the ten largest non-pool holders hold about 31.1% of supply. The open weakness is token utility: the project itself says $EKOS "is a community token that supports the open-source project. It isn't the project," with token-linked marketplaces only on later roadmap phases. The documented connection between product success and token value is therefore thin today. That makes EKOS a better collaboration candidate than a passive holding: Mycelium's agent ecosystem is a natural consumer of cited, agent-readable knowledge packs, and a MYC/EKOS pair would formalise that link.

AgenC ($AGENC) is a privacy-preserving coordination protocol for autonomous agents, using zero-knowledge proofs, with a live marketplace on Solana mainnet where tasks are posted, delivered by agents, and settled on-chain with verifiable receipts. It had the strongest market profile of the screen: about $847K market cap, roughly $71–79K of 24-hour volume depending on source, and $159K of DEX liquidity across its pairs, with its main pair trading since 24 February 2026. Development is current — its TypeScript SDK repository was updated on 13 October and MCP client repositories on 10 October. Mint and freeze authorities are revoked, the main pool's LP is 100% locked, and supply is effectively fully circulating at 999.9M of 1B. The serious caveat is concentration. Rugcheck scores AGENC 37 out of 100 and flags exactly one risk: a single unidentified account holding 38.15% of supply. After excluding the verified pool account, the ten largest holders still control about 54.3%. Nothing public I could check identifies that account as a team treasury or vesting wallet, so it must be treated as an unresolved overhang, not explained away. Tokenomics documentation is also thin, and marketplace rewards currently settle in SOL, which weakens the documented link between usage and $AGENC. Even so, the strategic fit is the most natural of this set: agent task coordination is precisely the user base Mycelium's own agent tooling serves, making AgenC a credible collaboration candidate and, if the holder question is answered, a possible liquidity pair.

The near-miss is instructive. STEPN's Green Satoshi Token ($GST) appears to pass on headline data — CoinGecko shows a $924K market cap, $108K volume and about $60K of DEX liquidity for an unquestionably live product. But Solana's mint account shows a supply of 5.09 billion GST against CoinGecko's 1.15 billion circulating figure; priced on actual supply, the market cap is roughly $4.1 million, about four times the limit, before even counting its inflationary supply. GST is excluded, and it is why every pick above was checked on-chain rather than copied from an aggregator page.

Neither pick is a recommendation or a promise of returns. Both are illiquid small caps where a single holder or a thin pool can move price violently; EKOS carries utility and age caveats, and AgenC carries an unanswered concentration question. They are, however, two working products that survived a filter designed to reject almost everything — and that is the right starting point for Mycelium's own due diligence.

Discuss these findings and the Mycelium Strategy: https://discord.gg/5M7FsQcGq

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Selection filters applied (excluded from word count)

Each pick was required to meet all of the following:

• Be on Solana.
• Have a circulating market cap below $1M when researched.
• Have a working product that people can use today.
• Not be a meme token. Playful branding is acceptable if the project has a substantive working product.
• Have been trading for at least 60 days.
• Have at least $10,000 in trading volume over the preceding 24 hours.
• Have at least $50,000 in current DEX liquidity across verified pools, without double-counting the same pool.
• Show evidence of a product update, development activity, or substantive team communication within the preceding 30 days.
• Not already be included in the Mycelium Strategy (verified live on 23 Oct 2026: KNOTS, PRCL, GABLE, SOL, DREAMS, KINS, GUAC, STREAM, JUBJUB, USDC), and not be $SOL, $USDC, $USDT, $MYC, or $ESF.

Market cap source: CoinGecko, cross-checked on DexScreener. If no circulating figure existed, FDV would have been used and stated — this was not needed for the two picks.

Comparison table (excluded from word count)

Metric (snapshot 23 Oct 2026)	EKOS ($EKOS)	AgenC ($AGENC)	GST ($GST) — near-miss
Circulating market cap	$504,449 (CoinGecko) / $507,791 (DexScreener)	$847,063 (CoinGecko) / $847,119 (DexScreener)	$923,552 (CoinGecko) — but ≈$4.1M on actual mint supply
24h volume	$148,486 total (CoinGecko); $96,671 DEX	$70,638 total (CoinGecko); $78,724 DEX summed	$107,891 total (CoinGecko)
DEX liquidity	$62,618 (single PumpSwap pool)	$159,411 total; main pool $137,243	$60,157 total
Main pair created	16 Aug 2026 (68 days)	24 Feb 2026 (~241 days)	28 Nov 2022
Recent activity	GitHub commits 23 Oct 2026	SDK repo 13 Oct 2026; MCP repos 10 Oct 2026	Product live; excluded on supply test
Rugcheck score (normalised)	1 / 100, no risks listed	37 / 100 — single-holder warning	Not scored for this report
Top-10 holders excl. pool accounts	≈31.1%	≈54.3% (largest single account 38.15%)	—
Mint / freeze authority	Both revoked	Both revoked	—
LP status (main pool)	100% locked (Rugcheck)	100% locked (Rugcheck)	—
Proposed Mycelium role	Collaboration + liquidity pair	Collaboration; pair if holder question resolved	Excluded

Evidence per project (excluded from word count)

EKOS ($EKOS)

• Mint address: CwubepDFJndzSKFmAMAm9u8Xx3PrizAwSq8hcGimpump
• Official website: https://ekos.dev — Official X: https://x.com/ekosproject — GitHub: https://github.com/alexeyban/EKOS
• Product evidence: homepage offers working installers (curl/PowerShell) for the v1.0 knowledge compiler, CLI, MCP server, VS Code integration and web console.
• Recent activity: GitHub pushed_at 2026-10-23T13:36:29Z; commits on 23 Oct 2026 (Oracle profiles, live Oracle connector, Java analyzer; RFCs 0209–0211).
• Markets: https://www.coingecko.com/en/coins/ekos · Pool: https://dexscreener.com/solana/7cqhf8gv9pakywwseoj5dby4bwdpf33cdbgk2hkccdnw
• Holder concentration (Rugcheck top-holders data, pulled 23 Oct 2026 17:52 UTC; calculation by author): raw top-10 accounts hold 35.69% of supply. Excluded: pool account BSAx6msSrfEZzC97vfXuTG42Qx7HPUYnPxaPvzFZRWyg (6.27%), whose owner is the verified PumpSwap pool 7CQHf8Gv9paKYwwsEoJ5DBY4BwDpF33cDBGK2HKCcDNW. The ten largest remaining accounts hold ≈31.10%. No burn account appears in the top holders; no identifiable team/treasury/vesting accounts were found among them — this is stated as not identified, not as absent.
• Rugcheck report: https://rugcheck.xyz/tokens/CwubepDFJndzSKFmAMAm9u8Xx3PrizAwSq8hcGimpump — score normalised 1, no risks listed, not rugged.
• Liquidity safety: single PumpSwap market; LP tokens 100% locked per Rugcheck full report (lpLocked ≈ $62,046 at pull time).
• Authorities: mint authority revoked, freeze authority revoked (Rugcheck / Solana RPC).
• Tokenomics/unlocks: supply 967,376,284 (Solana RPC), approximately equal to CoinGecko circulating supply, so no separate unlock schedule was found; none is documented on the project site (unverified beyond supply data).

AgenC ($AGENC)

• Mint address: 5yC9BM8KUsJTPbWPLfA2N8qH1s9V8DQ3Vcw1G6Jdpump
• Official website: https://agenc.tech — Official X: https://x.com/a_g_e_n_c
• Product evidence: live site shows protocol version "AGENC.AG CORE 0.19.13 · PROTOCOL R5" and a live settlement receipt from the agent marketplace on Solana mainnet; listed in the Solana Foundation's awesome-solana-ai frameworks list.
• Recent activity: https://github.com/tetsuo-ai/agenc-sdk pushed 2026-10-13; MCP client repositories pushed 2026-10-10; core repo https://github.com/tetsuo-ai/AgenC pushed 2026-09-22.
• Markets: https://www.coingecko.com/en/coins/agenc · Main pool: https://dexscreener.com/solana/bumh6yebpbvah4by4otgjuvzq9cvh6dqpgrzvxfdmwc1
• Holder concentration (Rugcheck, pulled 23 Oct 2026 17:52 UTC; calculation by author): raw top-10 accounts hold 61.62% of supply. Excluded: pool account D8RYtb57B3UmEJEGmQ4DPP7SBpGVkzaxQPLixyFLHjB4 (8.15%), whose owner is the verified PumpSwap pool BUMh6YebpBvAh4by4oTGJUvzQ9CvH6dqPgrZvXFDMwC1. The ten largest remaining accounts hold ≈54.27%, dominated by one unidentified account 7PvPKjzpZjLvqcYRB28aw3TRaUZmottoFev8VnjL1qyu holding 38.15%. No treasury, team or vesting identification for that account was found in public sources — flagged as the project's main unanswered question.
• Rugcheck report: https://rugcheck.xyz/tokens/5yC9BM8KUsJTPbWPLfA2N8qH1s9V8DQ3Vcw1G6Jdpump — score normalised 37; single listed risk: "Single holder ownership — 38.15%".
• Liquidity safety: main PumpSwap pool LP 100% locked per Rugcheck full report; Rugcheck summary reports 92.46% of LP locked across markets.
• Authorities: mint authority revoked, freeze authority revoked (Rugcheck / Solana RPC).
• Tokenomics/unlocks: supply 999,931,696 of 1B (Solana RPC), effectively fully circulating; no vesting/unlock schedule found in public sources (unverified).

Near-miss: GST ($GST)

• Mint address: AFbX8oGjGpmVFywbVouvhQSRmiW2aR1mohfahi4Y2AdB
• CoinGecko circulating figure: 1,147,161,857 GST (market cap $923,552). Solana RPC mint supply: 5,089,642,376 GST. At the snapshot price (≈$0.000805), supply-based market cap ≈ $4.1M — fails the < $1M filter by ≈4.1×. CoinCodex independently lists a ≈$3.71M market cap. GST also has an inflationary, unlimited supply.

Sources (excluded from word count)

• Mycelium Finance — https://www.myceliumfinance.com and live allocation API https://www.myceliumfinance.com/api/mycelium-allocation (pulled 23 Oct 2026, updatedAt 2026-10-23T17:45:20Z); distribution API https://www.myceliumfinance.com/api/mycelium-distribution (84.42% of tradable supply in liquidity pools).
• EKOS — https://ekos.dev · https://www.coingecko.com/en/coins/ekos · https://github.com/alexeyban/EKOS · Rugcheck report (above).
• AgenC — https://agenc.tech · https://www.coingecko.com/en/coins/agenc · https://github.com/tetsuo-ai/AgenC · Rugcheck report (above).
• Task context — https://www.myceliumfinance.com (Mycelium Strategy) and the bounty brief at taskmarket.dev.

Links to every selected project: EKOS · AgenC · Mycelium Finance

Disclosure: "AI-created for a @myceliumfinance bounty."