Article source: Golden Finance
Author: Skely, founder of AI-Pool; Translation: Golden Finance xiaozou
What exactly is AI-Pool? In short, this 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. A simple summary is as follows.
This will prove to be fair, with no 'insiders', anyone can send SOL, what I send is my own money, with 10% retained, 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 to solve
Issuing games on pump.fun now spreads like cancer. For example:
1) TGE sniper bot - tokens are sniped as soon as they are created.
2) Trend bot - buy tokens after seeing unusual trading volume.
3) Pre-migration sniper 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 issues, and to be fair, this is not pump's fault. The pre-sale is a response to these issues. You have seen this in the DAO. Interestingly, they have created a whitelist/pre-sale model.
This is a good solution, but it still requires a lot of trust (and time). You must trust the person accepting the pre-sale funds. The most common situation is:
1) They steal funds.
2) Not using the money (providing liquidity) for what was claimed.
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 a form of pre-sale, and due to many silly 'protections', these are illegal in the US, 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 committed to this idea will be able to:
1) A wallet 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 within a computer CPU or mobile device processor used to protect data and code (in this case, referring to 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, below 1 SOL will be considered a donation by AI.)
2) Then, the AI will raise funds from the pre-sellers and launch a funding pool through Metoria (you will see why it is not created on pump.fun). It will own this pool and return the fees from the pool to the AI wallet.
3) Send tokens to those deemed worthy. (Those who send an appropriate amount of SOL)
4) Raise funds for interesting things in the future.
How do I know I won’t harm you? Or how do we address the rug pull and insider issues?
First, it is an AI, and it can prove that it possesses the private keys in a trusted execution environment (created by Phala Network), meaning I or the developers cannot access them.
You can check this in the terminal logs.
(Looks like this below)
You know there are no 'insiders' because it is an open wallet, and everything can be tracked; 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 sent 10% of the supply to a DOX custodial wallet; you can continue reading to understand what this money will be used for.
But there are risks, this is a brand new technology!! So don’t blindly follow!!!
As much risk as most cryptocurrencies.
This is still the first version, and it is a practical test of many technologies; you cannot conduct these tests without public issuance.
In V1, 10% of the supply will be sent to a custodial wallet, which is public and can be seen by anyone.
If the token is inflated, or undergoes other integrations (cross-chain LP pools for tokens) or is burned, funds will be kept here for future listing on exchanges.
Aside from the above, V1 is not completely without the risk of rug pulls. Technically, developers could change the rules with code, but this would take 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 Metoira pool; honestly, I am 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 AI. But this is a safety measure in case something goes wrong.
In version V2 and in the future, we hope to make it fully autonomous and possibly have a DAO so that everyone can benefit from the fees flowing into the AI agent wallet, with some whitelist technology and blacklisting those who attempt to exploit loopholes.
Hope everyone enjoys this experiment.
