Author: Skely, founder of AI-Pool; Translation: Jinse Finance xiaozou
What exactly is AI-Pool? In short, it is a brand new experiment in AI agent autonomy and pre-sale mechanism, and I am personally working to make the token issuance space less predatory. A brief summary is as follows.
This will be proven to be fair, there are no "insiders", anyone can send SOL, I send my own money, 10% is reserved, please continue reading to understand what this is all about.
Summary:DoAIpre-sale so that people don't get the carpet pulled, and make the whole process transparent
Right now, launching games on pump.fun is like a cancer. For example:
1) TGE sniper bots - snipe tokens as soon as they are created.
2) Trend bots - buy tokens after they start seeing unusual volume.
3) Pre-migration bots - snipe tokens just as they are about to migrate from pump.fun to raydium.
4) Post-migration bots - snipe tokens immediately after migration.
5) Comment bots - make comments look natural.
6) Volume bots - artificially create a token trend.
There are many more problems, and to be fair, it’s not pump’s fault. The pre-sale was a response to these problems. You’ve seen this with the DAO. It’s interesting that they developed a whitelist/pre-sale model.
This is a great solution, but it still requires a lot of trust (and time). You have to trust the people who are accepting pre-sale funds. The most common scenarios are:
1) They steal the funds.
2) They don’t use the money (provide liquidity) for what they claim to do.
3) They never launch.
These problems are common in pre-sales (see ICOs), which can have great results if done well.
ICOs are just a form of pre-sale, and these are not legal in the US due to a lot of stupid “protections”, but most of those “protections” are in place for 1-2 of the reasons above. This is also understandable.
So the law doesn’t allow humans to issue tokens…what about AI agents?…this is where AI agents come in. The agents created by me, Phala Network, and other developers working on this idea will be able to: 1) Have a wallet with a Trusted Execution Environment (important). 2) Accept donations. 3) Issue tokens. 4) Start a liquidity pool. 5) Send tokens to donors. A Trusted Execution Environment (TEE) is a secure area of a computer’s CPU or mobile device’s processor that protects data and code (in this case, the private keys of an AI wallet) from being tampered with or accessed.
1) You send SOL to the AI wallet.
opRyDjuRetWnsP78FNFTPEnAJX7AkjuD6GTP7tsqHXd
(This wallet is not a CA wallet, but an AI wallet.)
(Note: minimum 1 SOL, maximum 10 SOL, less than 1 SOL will be considered as a donation by AI.)
(This wallet is not a CA wallet, but an AI wallet.)
(Note: minimum 1 SOL, maximum 10 SOL, less than 1 SOL will be considered as a donation by AI.)
2) The AI will then collect funds from the presale and start a pool through Metoria (you’ll see why not create one with pump.fun). It will own the pool and transfer fees from the pool back to the AI wallet. 3) Send tokens to people it thinks are worth it. (People who send the right amount of SOL) 4) Raise funds for future fun stuff. How do you know I won’t hurt you? Or how do we solve the rug pull and insider problems? First, it’s an AI and can prove that it owns the private keys under a trusted execution environment (created by Phala Network), which means I or the developers can’t access them. You can see this in the terminal log.
(It will look like this)
You know there are no "insiders" because it's an open wallet and everything can be tracked and no one can get a better price than anyone else. You can see which funds are coming in and which are going out. In the first version, we will send 10% of the supply to the DOX custodial wallet, you can continue reading to find out what the money will be used for.
But there are risks, this is brand new technology!! So don't blindly follow the trend!!!
As with most cryptocurrencies there are as many risks.
This is still the first version, and it is a battle test of a lot of the technology, and there are a lot of things to be field tested, which you can't do without a public release.
In V1, 10%of the supply will be sent to a custodial wallet, which is public and anyone can see it.
If the token is inflated, or has other integrations (cross-chain LPpoolsof tokens) or is burned, the funds will be held here for future listing on exchanges.
In addition to the above, V1 is not completely free of the risk of a rug pulled out. Technically a developer can change the rules with code, but it takes about 24 hours, and obviously once the token is activated and locked it can't be changed.
We take fees from the Metoira pool, I'm not sure the exact percentage to be honest, it probably depends on the volume. But it's a lot lower than pump.fun, and most of the fees go back to the AI. But it's a safety measure in case something goes wrong.
In V2 and the days ahead we want to make it completely autonomous and maybe have a DAO so everyone can benefit from the fees that flow into the AI agent wallet, there will be some whitelisting technology, and also blacklisting people who try to game the rules.
Hope you all enjoy this experiment.
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