Tony Dong 2020

This is a general announcement. Products and services referred to here may not be available in your region. Terms and conditions apply.
Fellow Binancians,
The Binance bStock AI-Powered PnL Trading Competition is being launched on Binance Wallet, supported by BNB Chain Agent Studio and CoinMarketCap (CMC),inviting users to trade bStocks (tokenized stocks) through Binance Agentic Wallet with AI-powered market analysis. Use AI-powered market insights from CMC and Agent Studio, compete on Realized PnL, and unlock a prize pool that grows as registered participants' combined bStocks AUM (the total value of bStocks held in participants' Agentic Wallets) hits milestones to win up to 100,000 USDC in total rewards.
Registration and Competition Period : 2026-08-17 09:00:00 (UTC) to 2026-09-01 00:00:00 (UTC)
Register Now
During the Competition Period, only Realized PnL generated from eligible bStocks pairs traded through Binance Agentic Wallet will count toward the leaderboard and reward distribution. Realized PnL is calculated using the FIFO (first-in-first-out) method and only includes gains/losses on positions that have been sold before the Competition Period ends — unsold (unrealized) positions do not count. Trades executed via other channels (including Binance Alpha and third-party dApps) will not be counted.
How Realized PnL is calculated: For each closed (sold) position, matched on a FIFO basis:
Realized PnL (per trade) = (Sell Price - Buy Price) * Quantity Sold
Your Total Realized PnL for the campaign is the sum of the Realized PnL across all your closed positions on eligible bStock pairs, executed via your registered Agentic Wallet during the Competition Period. Any position you have not sold by the end of the Competition Period is excluded from this calculation.
How to Participate and Trade:
A Binance Agentic Wallet is required to participate. If you have not created one yet, follow the guide on the campaign page to create one.Register by clicking the [Join Now] button on the campaign page during the Registration Period with your Binance Agentic Wallet. Only bStocks trading and PnL generated after registration will be counted toward the campaign.Have questions during the campaign? We provide dedicated campaign documentation and skills. Simply ask your AI Agent to read and install Agentic Wallet Skill, then let your Agent guide you through the required steps.Complete the required AI tasks. You must use two services: CMC for full-spectrum market data, and BNB Chain Agent Studio · Stock Analyze Agent to generate a full investment report for any stock ticker you provide. These tasks are mandatory for eligibility. See the AI Tasks guide for exact requirements and instructions.Trade bStocks pairs (tokens with the champion icon on the token list) through your Agentic Wallet based on your strategy.You can also check the eligible token documentation for token details.Rankings are based on Realized PnL only. To be included in the final ranking calculation, positions must be closed before the Competition Period ends; unrealized PnL from open positions will not be counted.Track your progress anytime on the campaign page, including your AI task completion status, eligible status, and leaderboard ranking.
Tasks for Reward Eligibility
To qualify for the reward distribution, participants must meet all of the following during the Competition Period:
#RequirementTask1CoinMarketCap market data b402 callComplete at least 3 valid AI analysis b402 calls via CoinMarketCap Agent Hub during the campaign,with each request costing approximately $0.01.2BNB Chain Agent Studio stock analysis b402 callComplete at least 3 valid AI analysis calls via BNB Chain Agent Studio Stock Analyze Agent b402 during the campaign,with each request costing approximately $0.13Realized PnL > 0At the end of the campaign, your realized PnL on eligible pairs must be positive.
Tips:
Read the campaign documentation, or ask your Agent to read it for you. Details on the CMC/BNB Chain b402 call task is also included in the documentation.Install the campaign skill so your Agent can understand the rules and help you complete the required steps.
Please Note:
All requirements above must be met. Participants who meet only some of them will not be eligible for rewards.All participants will be ranked on the leaderboard regardless of whether their realized PnL is positive or negative; however, only participants with realized PnL above 0 will be eligible for the rewards.The leaderboard is updated periodically during the campaign. Realized PnL is refreshed on a daily basis, while holding snapshots are updated hourly. Eligibility status, including task completion status, is updated in near real time, though slight delays may occur. Users may appear on the leaderboard based on their Realized PnL performance; however, if they do not complete all required eligibility tasks or fail to meet other reward requirements, they may be removed from the eligible leaderboard during the hourly refresh. Final ranking and reward eligibility are subject to post-campaign review.
Reward Structure:
During the Competition Period, we track the combined bStocks AUM (the total value of bStocks held in participants' Agentic Wallets) on eligible trading pairs. This is not the entire bStock market's AUM, only the total held by users who have registered for this campaign. As this participant AUM reaches each milestone threshold, a larger reward pool is permanently unlocked, the higher registered participants' combined bStock AUM, the bigger the prize pool for the winner:
MilestoneRegistered Participants' Combined bStocks AUM (in USDC)Total Prize Pool UnlockedTier1No minimum50,000 USDCTier2≥ $1.5 Million 75,000 USDCTier3≥ $5 Million100,000 USDC
At the end of the Competition Period, the top 100 eligible participants ranked by Realized PnL, highest to lowest, will receive rewards based on their final rankings.
Eligible Users' Rankings (by Realized PnL)50,000 USDC Prize Pool75,000 USDC Prize Pool100,000 USDC Prize PoolReward per Eligible User (in USDC)Reward per Eligible User (in USDC)Reward per Eligible User (in USDC)1st Place8,50012,75017,0002nd Place6,2009,30012,4003rd Place5,0007,50010,0004th Place3,8005,7007,6005th Place3,0004,5006,0006th - 10th Places1,5002,2503,00011th - 20th Places6209301,24021st - 50th Places21031542051st - 100th Places70105140Total Reward Amount50,00075,000100,000
Campaign Rules:
Participants must use Binance Agentic Wallet to register and conduct on-chain transactions. Transactions conducted via third-party DApps, Binance Alpha, or non-Agentic wallets will not be counted. Once the wallet registration is confirmed, it cannot be changed during the Competition Period.Only Realized PnL generated after successful registration, on eligible trading pairs (bStocks tokens with the champion icon on the token list), counts toward the campaign. Realized PnL = realized gains/losses on sold positions, calculated FIFO; unsold positions at the end of the Competition Period generate no Realized PnL and are not counted.Eligible Tokens & Trading Pairs: All bStocks tokens on BNB Smart Chain are eligible for this campaign.To qualify for the leaderboard, trades must be executed through an eligible trading pair between a bStocks token and one of the following assets on BNB Smart Chain: USDT, USDC, USD1, U, BNB, or WBNB. Trades made through other token pairs, including bStocks-to-bStocks swaps or swaps using any non-permitted token as the counter asset, will not be counted toward the leaderboard. Cross-chain transactions are also not eligible.To be eligible for the leaderboard and reward distribution, participants must meet all Eligibility Requirements above by the end of the Competition Period. Participants who fail to meet any requirement, including having a negative Realized PnL, will not be ranked or receive rewards.The leaderboard is updated periodically during the campaign. Realized PnL is refreshed on a daily basis, while holding snapshots are updated hourly. Eligibility status, including task completion status, is updated in near real time, though slight delays may occur. Users may appear on the leaderboard based on their Realized PnL performance; however, if they do not complete all required eligibility tasks or fail to meet other reward requirements, they may be removed from the eligible leaderboard during the hourly refresh. Final ranking and reward eligibility are subject to post-campaign review.Each stock analyst usage via BNB Agent Studio incurs a usage fee, which is around $0.1 per use). Additionally, each call to CoinMarketCap market data via b402 is charged at $0.01.Rewards will be calculated after the Competition Period ends and distributed in USDC within 14 business days after the Internal Review Period to eligible winners’ registered Binance Agentic Wallets. If fewer than 100 participants qualify, only eligible participants will receive rewards, and any undistributed rewards will not be reallocated.After the competition ends, the campaign results will enter a 3-day public review period. During this period, participants can contact Binance Official Customer Support if they have any questions or concerns about the results. After the public review period ends, the results will enter a 3-day internal review period. Once the internal review is completed, rewards will be distributed based on the final results.All trading activity and Realized PnL, AI task completion, and reward calculations are subject to the Binance Wallet final records and determinations.Binance Wallet reserves the right to disqualify trades or PnL that are deemed to result from wash trades, illegal bulk account registrations, self-dealing, activity between wallets controlled by the same entity, or that otherwise show signs of market manipulation, etc.
About Binance Wallet:
Binance Wallet is a self-custody crypto wallet, designed to empower users in the realm of decentralized finance (DeFi). Serving as a digital gateway to blockchain-based applications (dApps), it offers users a secure and streamlined method to manage their cryptocurrencies, execute token swaps across multiple chains, earn yields, and interact with a variety of blockchain platforms. For more information, please refer to this page.
About CoinMarketCap (CMC):
CoinMarketCap stands as the Home Of Crypto. With over 1+ billion monthly page views and 53+ million tracked cryptocurrencies, CoinMarketCap drives the industry forward by organizing and delivering comprehensive crypto intelligence. Major media outlets including Forbes, Bloomberg, CNBC, and The Wall Street Journal rely on CoinMarketCap as their primary source for crypto data.
About BNB Chain Agent Studio:
BNB Agent Studio is a platform provided by BNB Chain that lets users build, deploy, and earn from autonomous on-chain agents, without managing infrastructure themselves. Users can describe what they want in plain English, and it scaffolds, deploys, and registers the agent on-chain for the users.
Each agent gets:
Its own on-chain identity (ERC-8004)Its own wallet for signing and paymentsIts own task interface (ERC-8183)Automated LLM funding via b402
Interested to build bStocks trading agents on BNB Chain? Submit your interest here.
For More Information:
Introducing Binance Wallet (Web): A Faster, Smarter Trading Experience Right on Your DesktopWhat Is Binance Wallet (Web) and How to Use ItWhat Is Binance Wallet (APP) and How Does It WorkWhat Is a Keyless Wallet and Why Do I Need to Back It UpFrequently Asked Questions on Binance Wallet
Terms and Conditions:
These terms and conditions (“Activity Terms”) govern users’ participation in the activity above (“Activity”). By participating in this Activity, users agree to these Activity Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Wallet Terms; and (c) Binance Privacy Notice; all of which are incorporated by reference into these terms and conditions. In the case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, the provisions of these Activity Terms shall prevail, followed by the  following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Wallet Terms; and (c) Binance Privacy Notice.Only users who maintain an active Binance Account on the Binance Platform are eligible to participate in this Activity. Tokens will not be distributed to users who delete or deactivate their Binance Wallets and/or their Binance Accounts on the Binance Platform.This Activity is not sponsored, endorsed, or administered by X (formerly Twitter) or any other social media platforms.To participate, users must register via the campaign page within the Registration Period and complete all instructions in the campaign page during the Competition Period. Only Realized PnL generated after successful registration will be counted as PnL for this campaign.All calculations and determinations in respect of any Promotion will be undertaken by Binance Wallet in its sole discretion.Binance Wallet shall not be liable for any losses or damages users may incur as a result of their participation in the event and/or use of the services.Binance Wallet will review the winning user's trading behavior during the event and reserves the right to disqualify any winning user from receiving the reward if any fraudulent or unfair activity is detected.Binance Wallet reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegally bulk account registrations/logins, self dealing, or market manipulation). Binance Wallet further reserves the right to disqualify any participants who tamper with Binance Wallet program code, or interfere with the operation of Binance Wallet program code with other software.Binance Wallet reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this Activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all Participants shall be bound by these amendments. There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Wallet Team
2026-08-17
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AI 圈不缺八卦。

这次的主角叫 Giambattista Parascandolo，是 OpenAI 推理模型方向的重要研究者。

2020 年，他去 MIT 面试教授岗位，做了一场关于用 GPT 做推理的报告。结果，面试委员会大部分教授把这个方向斥为「无稽之谈」（nonsense）。

https://x.com/turingbook/status/2084003612687249836?s=20

这哥们直接贴脸开大，将这段经历写进了个人主页，并附上了当年的报告介绍和幻灯片链接。

https://sites.google.com/view/giambattista-parascandolo/home

那份被批「无稽之谈」的报告，讲了啥？

MIT 官网显示，这场报告的主题，是如何让人工神经网络突破训练分布，获得更接近人类的泛化和规划能力。

Parascandolo 认为，人类能够重新组合已有知识，识别关键不变量，建立抽象模型，并完成长时程规划。人工神经网络在这些方面仍有很大提升空间。

报告最后，他提出了三个未来研究方向：神经网络中的开放式推理、人工神经网络中尚未探索的自由度，以及在强化学习中将语言作为推理载体，以提高样本效率。

其中最关键的概念，是「开放式推理」。

Parascandolo 将其定义为：模型可以投入更多时间和计算，持续修正答案。问题越难，模型就应该多想几步，并让额外计算转化为更好的结果。

这听起来已经很像今天的推理时计算扩展。

当时的标准 Transformer 拥有固定的网络深度，每个 token 经历的前向计算量基本确定，问题难度却与输入长度没有稳定关系。一个问题可以很长，答案却很简单。另一个问题只有一句话，可能需要多轮拆解和验证。

RNN 看起来更加适合这种任务。它可以反复运行，理论上能够获得任意长度的思考时间。Parascandolo 在 PPT 中展示的曲线却表明，RNN 通常只在训练时见过的推理步数附近表现最好，继续增加循环次数，准确率反而可能下降。

这意味着，增加计算量只是第一步，模型还要学会如何利用这些计算。

当时效果最强的多步规划，大量依赖模型预测控制和蒙特卡洛树搜索。神经网络负责预测环境或评估价值，外部搜索算法负责展开未来路径。Parascandolo 希望进一步将长程推理能力融入神经网络。

他的第二个设想，是让语言成为推理载体。

Parascandolo 用经典游戏《蒙特祖玛的复仇》举例。一个从零开始训练的强化学习 Agent，需要尝试大量状态和动作组合，很多正确操作本身并不复杂，Agent 真正缺少的，是对「什么行为更合理」的判断。

GPT 已经从文本中吸收了大量世界知识，语言可以帮助模型描述环境、理解目标、拆解任务和生成高层计划，也能大幅缩小搜索范围。

放到今天，这套思路很容易让人联想到思维链、语言规划和 Agent 工作流。

Parascandolo 提出的第三个方向是，人工智能系统可以重置任务，回到记忆中的任意状态，构造反事实场景，还可以调整模拟器中的时间、重力和观察结果。系统甚至可以直接读取、复制和修改自身的激活值与神经网络权重。

这相当于把学习过程本身也纳入 Agent 的操作空间。它可以开展刻意练习，生成特殊训练场景，迁移已有知识，并针对失败轨迹重新学习。

五年前的 PPT 里，几乎写出了今天的推理模型路线。

我们还扒出了他 2021 年 6 月写过的一篇博客，题目就是《反向传播、进化与「两只狗」的误区》。

这篇博客主要反驳「神经网络需要海量数据，因此不像人脑」的观点。

Parascandolo 认为，人类只看几只狗就能学会识别，并不代表此前没有积累经验。漫长的进化已经把祖先接触世界的经验，沉淀为人类大脑的结构和归纳偏置。

按照这一视角，神经网络的大规模预训练可以类比生物进化，模型微调和上下文学习才更接近个体一生中的学习。GPT-3读过的文本远超任何个人，但其预训练承担了压缩海量经验、塑造高效学习能力的作用。因此，不能直接拿模型的全部预训练数据，与一个人出生后的少量学习样本进行比较。

这种理解也意味着，继续扩大数据和算力仍可能带来明显提升。他类比的是两者发挥的作用，并没有认为梯度下降与生物进化的具体机制相同。

这小哥啥来历？

这哥们相当低调，X 上最新一条帖子还得追溯到 2024 年 11 月，当时他正在为 o1 招聘两位研究工程师（RE）和软件工程师（SWE）。

据他个人主页显示，Parascandolo 的研究经历，一直围绕泛化、规划和推理展开。

2017 年，他进入马克斯・普朗克智能系统研究所和苏黎世联邦理工学院攻读博士，师从 Bernhard Schölkopf 和 Thomas Hofmann，博士课题聚焦深度学习中的 OOD 泛化。

博士期间，他在山景城的 Google X 和伦敦的 DeepMind 各做过一段实习，前者参与超大规模模拟器上的自动化设计研究，后者参与分治蒙特卡洛树搜索研究。

2021 年 9 月博士毕业，他直接加入 OpenAI，最初进入 John Schulman 领导的强化学习团队，随后转向 Mark Chen 所在的算法团队，又加入 Jerry Tworek 带领的🍓（草莓）团队。草莓团队，正是 o1 项目的内部代号。

2023 年，他参与 GPT-4 研发，并组建了一支继续研究推理的新团队。后来又参与了 OpenAI o1 和 o3 的基础研究，推动奖励建模、环境构建和通用推理算法的扩展。其中一部分算法描述，至今仍被他用黑块遮住。

2020 年那场面试，Parascandolo 没能拿到 MIT 的教职，他去了 OpenAI。

四年后，他帮助构建了 o1。

人生总是妙不可言。

参考链接：

https://x.com/giambattista92

https://sites.google.com/view/giambattista-parascandolo/home

https://gibipara92.github.io/2021/06/09/backprop-evolution-two-dogs.html

https://docs.google.com/presentation/d/1edd2GkAP31wNygaev3DO8gE1t2lgsx1z8TeVpBKqlYA/edit?slide=id.gc772610149_0_179#slide=id.gc772610149_0_179

本文来自微信公众号“机器之心”（ID：almosthuman2014），作者：杨文