Author: TechFlow
Trends are cyclical, and this also applies to cryptocurrencies. Tired of playing with PumpFun’s PVP, the market has picked up the old trick from the beginning of the year - pre-sales, but this time with a new name of AI narrative.
This morning, Twitter user Skely (@123skely) tweeted to announce the start of pre-sale for AI-Pool (@aipool_tee), an AI token issuance project. Perhaps the identity of @ai16zdao member gave Skely a certain endorsement, as the pre-sale raised more than 10,000 $SOL in less than two hours, and more than 35,000 $SOL in half a day.
The pre-sale method of paying for tokens was very popular at the beginning of the year. At that time, many projects raised tens of thousands of $SOL, but few of them achieved good results. It stands to reason that the market has already disenchanted this method of playing. What is different about this pre-sale?
AI-managed pre-sale Pump.fun?
Simply put, the pre-sale project AI-Pool is a "Money Transfer Fi" managed by an AI agent.
Skely said in a tweet that the early pre-sale payment model (such as slerf, bome, etc.) would be a great success if it could be successfully launched after raising a large amount of funds. But in essence, this model of transferring money to personal wallets is too difficult to test human nature. Even if DEV did not have evil intentions at the beginning, it could not resist the increasing amount of money. GM.AI is a lesson learned.
The current pumpfun model does avoid some of the possibility of centralized evil. But now it has been filled with robots in every link, making it a mess: fake comments, opening sniping, trend tracking... Even if it is a fair launch in terms of mechanism, for retail investors, the opportunity to truly participate in transactions fairly is getting fewer and fewer. Not only do they have to pvp with people, but they also have to pvp with bots online 24 hours a day.
In short, these ways of participation are definitely not fair to retail investors. Since Pump cannot compete with Bots and humans in the pre-sale mode often break their promises, it is better to let AI manage the pre-sale process.
How does AI-Pool work?
This is a smart token issuance system based on a trusted execution environment (TEE). At its core is an AI agent running in a TEE, which uses a special security mechanism to ensure that its operating environment cannot be hacked or tampered with. The system uses a carefully designed private key management solution to ensure that private keys will never be accessed by humans, thereby fundamentally ensuring the security of the system.
In daily operations, the system accepts two forms of capital injection: small donations (less than 1 SOL) and larger investments (1 SOL or more). These funds flow into smart wallets managed by AI agents. The AI agents use these funds to launch new token projects on the Meteora liquidity pool and give them back to qualified investors through airdrops.
Throughout the process, each wallet operation generates remote authentication credentials, which are not only used to verify the legitimacy of the operation, but also to ensure that the wallet's derivation process and access rights are traceable and secure.
Skely also emphasized that this series of developments were completed through ai16z's ELIZA framework.
The core mechanism of the project is as follows:
Funds Receiving: Users can directly send SOL to the wallet address of AI agent (opRyDjuRetWnsP78FNFTPEnAJX7AkjuD6GTP7tsqHXd) with a minimum of 1 SOL and a maximum of 10 SOL:
Any amount below the minimum will be considered a donation
Security: Through @PhalaNetwork’s TEE (Trusted Execution Environment) technology:
Private keys are generated and stored in TEE
Developers cannot access private keys
All operations can be verified in the terminal log
Liquidity Management:
AI will create liquidity pools through Metoria (not PumpFun)
Transaction fees flow directly back to the AI wallet
Eligible participants will receive token distribution
At the same time, Skely also mentioned in the tweet that this pre-sale is not completely risk-free:
Currently, the project is still in version 1, and 10% of the supply will be sent to a custodial wallet (publicly visible). These funds will be used for possible future exchange listings, or other integrations (cross-chain LP pools, etc.), or destroyed. Technically, developers can push code to change the rules, but this requires an execution period of about 24 hours. Of course, once the token is online and locked, it cannot be changed.
It was mentioned that in V2 and future versions, the team hopes to make the AI agent in the project completely autonomous, possibly operating in the form of a DAO, so that everyone can benefit from the fees flowing to the AI agent wallet, while introducing some whitelist technology and blacklisting those who attempt to snipe or manipulate the system.
The market FOMO is sending money, but the issuance mechanism is criticized for unclear details
Judging from the speed of the market, this pre-sale was indeed successful. The pre-sale address received more than 35,000 $SOL in just half a day, worth nearly 7 million US dollars. Although the pre-sale was set at 10 $SOL per address, someone still deposited more than 500 $SOL into the pre-sale address.
Pre-sale address:
opRyDjuRetWnsP78FNFTPEnAJX7AkjuD6GTP7tsqHXd
Skely himself did not expect that this pre-sale would cause so much FOMO, and he stopped the pre-sale when the account was close to 30,000 $SOL, and said that any further money would only be added to the pool as LP (but it is still unclear how much of the hard cap and how the over-subscribed $SOL will be distributed).
The money was paid, but there were some serious problems with the pre-sale that made users dissatisfied:
Just let people deposit money, but Skely did not set the hard cap for this pre-sale at the beginning, which resulted in more and more SOL in the pre-sale address. The share of early deposit users may be diluted, and people's anxiety and dissatisfaction are gradually increasing. Some Twitter users also bluntly said: Isn't it just a pre-sale with an AI shell? The real thing is that the money can be withdrawn.
The distribution mechanism is unclear. Skely said in a tweet that the tokens will be distributed to "deserving people", but this criterion itself is too subjective, and Skely did not seem to further explain this statement.
Some people also found out that the Twitter account of this project @aipool_tee has been renamed many times, and its previous name (cable) was not very nice..... However, Skely himself later tweeted to admit that the project account had indeed been renamed many times, but also said that it was just to come up with a more suitable name, nothing more.
summary
Perhaps because he has received so much money but the mechanism is not clear, Skely has caused dissatisfaction among some community members. As of the time of writing, Skely's Twitter account has been frozen.
But before being blocked, Skely tweeted that he would issue tokens on December 24th, UTC. In order to prevent excessive sniping, the specific issuance time will not be announced.
Regardless of whether the team really intends to make some substantial applications in this pre-sale, or whether it is another scam using AI as a shell, I hope that the victims this time will no longer be the retail investors who voluntarily pay money...
