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 mechanisms, and I am personally working to make the token issuance space less predatory. Here’s a simple summary.
This will be proven fair, with no 'insiders'; anyone can send SOL, and I’m sending my own money, with 10% being reserved, please continue reading to understand how this works.
Summary: Conduct an AI pre-sale so that people are not rug pulled and make the whole process transparent.
What problem does it solve?
Issuing games on pump.fun right now is rampant like cancer. For example:
1) TGE sniper bot - Tokens are sniped immediately after creation.
2) Trend Bot - Buy tokens after seeing unusual trading volume.
3) Pre-migration bot - Snipe tokens when they are about to migrate from pump.fun to raydium.
4) Post-migration bot - Snipe tokens immediately after migration.
5) Comment bot - Make comments look natural.
6) Volume Bot - Artificially create a symbolic trend.
There are more questions, and to be fair, it’s not the pump's fault. The pre-sale is a response to these issues. You’ve seen this on the DAO. Interestingly, they devised a whitelist/pre-sale model.
This is a good solution, but it still requires a lot of trust (and time). You have to trust the person accepting pre-sale funds. The most common scenarios are:
1) They steal funds.
2) Not using money (providing liquidity) for what was claimed to be done.
3) Has never been able to issue.
These issues are common in pre-sales (see ICO), and if handled well, pre-sales can yield good results.
ICO is just one form of pre-sale, and due to many stupid 'protections', these are illegal in the U.S., but most 'protections' are formed due to the above 1-2 reasons. This is also understandable.
So the law doesn’t 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) Wallets with 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 that protects data and code (in this case, the private keys of the AI wallet) from being tampered with or accessed.
How it works
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 a donation by AI.)
2) Then, the AI will raise funds from pre-sellers and start a funding pool through Metoria (you will see why we don’t create it on pump.fun). It will own this pool and transfer the fees from the pool back to the AI wallet.
3) Send tokens to those it deems worthy. (People sending a reasonable 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 resolve the rug pull issue and insider issue?
First, it is an AI and can prove it possesses 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 others. You can see what funds are coming in and going out. In the first version, we send 10% of the supply to the DOX custody wallet, and you can continue reading to find out what this money will be used for.
But there are risks, this is new technology!! So don’t blindly follow the trend!!!
As much risk as most cryptocurrencies.
This is still the first version, and it's a practical test of many technologies; you cannot conduct these tests without a public issuance.
In V1, 10% of the supply will be sent to a custody wallet, which is public and can be viewed by anyone.
If the token inflates, or engages in other integrations (cross-chain LP pools of tokens) or is burned, the funds will be held here for future listing 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 it takes about 24 hours, and clearly, once the token is activated and locked, it cannot be changed.
How do we make money?
We charge from the Metoira pool, and honestly, I’m not sure of the exact percentage, as it may depend on the trading volume. But it’s much lower than pump.fun, and most fees will flow back into AI. But this is a safety measure in case something goes wrong.
In version V2 and in the days to come, we hope to make it fully autonomous, possibly with a DAO, so that everyone can benefit from the fees flowing into the AI agent wallet, with some whitelist technology and also blacklist attempts to exploit rule loopholes.
Hope everyone enjoys this experiment.
