DeFi
Setting new standards with on-chain AI agents for the improvement of DeFi
VADUZ, LIECHTENSTEIN / ACCESSWIRE / May 13, 2024 / GriffinAI, recently launched by crypto luminary Oliver Feldmeier in Switzerland, aims to revolutionize the capabilities of AI agents through integration into a secure, decentralized network. The inaugural phase of the project is focused on refining DeFi experiences using advanced AI agents such as ELANN.AI. Upcoming milestones include the mainnet launch and unveiling of a technical whitepaper on May 15.
This newly founded company in Switzerland, GriffinAI, seeks to establish a decentralized platform enabling effective collaboration between AI agents and individuals to generate value in a secure and permissionless setting.
Led by Oliver Feldmeier, the GriffinAI initiative has a seasoned team with extensive expertise in the areas of blockchain and machine learning. Feldmeier, a stalwart of the crypto industry, previously led the creation of Switzerland’s first fully regulated digital asset platform in 2017. Notably, as CEO, he orchestrated the first IPO of its kind in Europe on the Nasdaq.
Improving the capabilities of AI agents
“Limiting today’s early AI agents in performing tasks requires a transformative approach. On the one hand, with continued advances in large language models (LLMs), these agents are set to become significantly smarter On the other hand, by integrating agents In blockchain-based networks such as GriffinAI, they can already become more autonomous and more useful. For example, on the GriffinAI network, each agent will have an identifier and a wallet. individuals, thereby giving it the ability to transact and manage more complex transactions Imagine an AI agent representing an investment research analyst who could independently purchase access to the necessary research data or reports. , an exploit currently unattainable for AI agents.”
said Oliver Feldmeier
Chain Agents for a Permissionless but Secure Network
Deploying on-chain AI agents within the GriffinAI ecosystem addresses important challenges such as enterprise control over agent development. GriffinAI allows any developer to create and monetize their agents without permission, bypassing company approvals. However, this opens the door to potential risks from malicious and harmful applications. “To mitigate these risks, trust within this environment can be established through on-chain identifications and third-party verifications,” says Feldmeier. On the GriffinAI network, any agent or agent developer can operate a node and establish their identity using the GriffinAI public key, thereby building a reputation.
Foundation as the basis of a decentralized network
The key to the success of the project lies in its deep decentralization and its appropriate legal framework. Due to the team’s extensive regulatory and compliance expertise, they decided to establish GriffinAI as a non-profit foundation in Liechtenstein. This arrangement optimally connects the structure to a decentralized autonomous organization (DAO), while maintaining regulatory compliance ahead of the issuance of non-security tokens planned for later this year.
First use case: Decentralized finance (DeFi)
Development of the first agent prototypes for the GriffinAI project began last summer, focusing on the DeFi investment experience, to solve the biggest problem in crypto investing. The team initiated the development of three distinct AI agents: a research analyst, a trade execution manager, and a risk manager. The research analyst agent prototype, launched under the ELANN.AI brand last October, aggregates and evaluates news, providing AI-generated summaries and reports from more than 100 news sources under different avatars and tones of voice. “The upcoming conversational interface will allow users to interact directly with their research analyst, significantly reducing the time spent on personal research,” Feldmeier added.
In January, leveraging multilingual natural language processing (NLP) technology, the team released the first localized version of Elann.AI for the Korean market, resulting in a partnership with the second largest major Korean exchange, Bithumb, and the subsequent integration of ELANN. AI in its non-custodial wallet, Burrito.
Looking forward
Following the launch of the GriffinAI mainnet later this year, agents like Elann.AI will begin operations within the GriffinAI protocol, making them not only compatible with transactions but also facilitating easy integration into any decentralized application (DApp ). Ahead of the testnet launch, the team is expected to release the GriffinAI Network technical whitepaper on May 15, alongside the launch of the first contributor program.
Website: https://www.griffinai.io/
X: https://x.com/Griffin_AI
Telegram: https://t.me/GRIFFINai
Discord: https://discord.gg/AGZDk5BqFA
Contact:
Olivier Feldmeier
Founder of Griffin AI
[email protected]
Birkenweg 6, Vaduz, Liechtenstein, 9490
SOURCE: Founder of Griffin AI