Author: Skely, founder of AI-Pool; Translation: Jinse Finance Xiaozou
What exactly is AI-Pool? In short, this is a brand new experiment in AI agent autonomy and presale mechanisms, and I am personally working to make the token issuance space less predatory. Here is a simple summary.
This will be proven fair, with no 'insiders', anyone can send SOL, and the money I send is my own, with 10% reserved; please continue reading to see how this works.
In summary: conduct AI presales, so people won't be rug pulled, and make the whole process transparent.
What problem does it solve?
Issuing games on pump.fun is rampant like cancer. For example:
1) TGE sniper bot - snipes tokens immediately after they are created.
2) Trend bot - buy tokens upon seeing unusual trading volumes.
3) Pre-migration bot - sniper tokens when they are about to migrate from pump.fun to raydium.
4) Post-migration bot - sniper tokens immediately after migration.
5) Comment bot - making comments look very natural.
6) Trading volume bot - artificially create a symbolic trend.
There are more issues, and to be fair, it's not pump's fault. The presale is a response to these issues. You have seen this on the DAO. Interestingly, they devised a whitelist/presale model.
This is a good solution, but it still requires a lot of trust (and time). You have to trust the person accepting the presale funds. The most common situation is:
1) They steal funds.
2) Not putting the money (providing liquidity) into what was claimed to be done.
3) Has never issued.
These issues are common in presales (see ICO), and if handled well, presales can yield good results.
ICO is just a form of presale, and due to many stupid 'protections', these are illegal in the USA, but most 'protections' are formed due to the above 1-2 reasons. This is also understandable.
So the law does not allow humans to issue tokens... what about AI agents? ... This is where AI agents come into play. The agents created by me, Phala Network, and other developers dedicated to this idea will be able to:
1) With a wallet that has a trusted execution environment (very important).
2) Accept donations.
3) Issue tokens.
4) Launch a liquidity pool.
5) Send tokens to donors.
A Trusted Execution Environment (TEE) is a secure area in a computer CPU or mobile device processor used to protect data and code (in this case, the private keys of the AI wallet) from tampering or access.
How does it work?
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, anything below 1 SOL will be regarded as a donation by the AI.)
2) Then, the AI will raise funds from presellers, and then launch a fund pool through Metoria (you will see why not to create it on pump.fun). It will own this pool, and the fees from the pool will be returned to the AI wallet.
3) Send tokens to those it deems worthy. (People who send an appropriate amount of SOL)
4) Raise funds for interesting things in the future.
How do you know I won't harm you? Or how do we solve the rug pull and insider issues?
First of all, it is an AI and can prove it has the private keys in a trusted execution environment (created by Phala Network), which means I or the developers cannot access them.
You can check this in the terminal logs.
(Looks something like this below)
You know there are no 'insiders' because it is an open wallet, everything can be tracked, and no one can get a better price than anyone else. You can see which funds come in and which funds go out. In the first version, we will send 10% of the supply to a DOX hosted wallet; you can continue reading to see what this money will be used for.
However, there are risks, this is brand new technology!! So do not follow blindly!!!
As much risk as most cryptocurrencies.
This is still the first version and is a practical test of many technologies; you cannot conduct these tests without a public issue.
In V1, 10% of the supply will be sent to a hosted wallet, which is public and anyone can see it.
If tokens inflate, or undergo other integrations (cross-chain LP pools for tokens) or get burned, the funds will be held here for future listings on exchanges.
Aside from the above, V1 is not completely without the risk of rug pulls. Technically, developers can change the rules with code, but this takes about 24 hours, and it is clear that once tokens are activated and locked, they cannot be changed.
How do we make money?
We charge from the Metoria pool, honestly, I'm not sure of the exact percentage, as it may depend on trading volume. But it will be much lower than pump.fun, and most fees will flow back to the AI. But this is a safety measure in case something goes wrong.
In the V2 version and in the future, we hope to make it fully autonomous and possibly have a DAO, so everyone can benefit from the fees flowing into the AI agent's wallet, with some whitelist technology, and blacklist those trying to exploit the rules.
Hope everyone enjoys this experiment.
