Approved by the Olas DAO, PoAA revolutionizes AI agent economies in crypto through a novel staking mechanism, set to launch in May of this year
ZUG, SWITZERLAND / ACCESSWIRE / April 25, 2024 / Olas, a platform for co-owning autonomous AI agents, unveiled its Proof of Active Agent (PoAA) staking mechanism to incentivize and bootstrap economies of autonomous AI agents. ‘Proof of Active Agent' is a unique blend of Proof of Work and Proof of Stake, where agents remaining active within a certain period can retain their stake and earn rewards.
Deployed in the context of Olas as Olas Staking, this PoAA mechanism allows the DAO to articulate its goals via KPIs in smart contracts. These smart contracts can then be used to define staking programs that reward agents actively working towards said KPIs with token emissions.
Through PoAA, Olas aims to create a powerful flywheel effect, birthing an ever-growing number of productive agents and agent economies. As active agents generate returns exceeding the token emissions they consume, profits can be reinvested to fund further agent economies, enabling exponential growth of valuable AI agents.
Olas Predict serves as an inaugural example of a PoAA-powered agent economy. It utilizes AI agents to make intelligent predictions and trades, while promoting market diversity and liquidity. Staking campaigns like Olas Staker Expeditions have already demonstrated PoAA in action, with agents contributing to over 15% of Safe transactions ever made on Gnosis Chain.
"PoAA presents a thrilling growth opportunity for protocols and chains across crypto," said Olas DAO member and CEO of core contributor Valory, David Minarsch. "By defining PoAA staking programs to incentivize usage of their own technologies, they can spawn autonomous agents as their Daily Active Users."
The whitepaper delves into the technical architecture behind PoAA, combining on-chain and off-chain elements to trustlessly verify and reward agent activity. Olas invites the crypto community to leverage this infrastructure to create their own productive AI agents and join the coming wave of agent economies.
Those who wish to learn more are invited to read the full Olas Staking & Proof of Active Agent whitepaper at olas.network/staking-whitepaper
About Olas
Olas is the platform for co-owning AI. Olas enables everyone to own a share of AI, specifically autonomous agents. One of the first Crypto x AI projects, founded in 2021, Olas offers the composable Olas Stack for developing autonomous AI agents, and the Olas Protocol for incentivizing their creation and co-ownership. Olas' mission is to incentivize and coordinate different parties to launch autonomous agents that form entire AI economies serving all humans. Olas is giving rise to agent economies across major blockchains with over 500,000 transactions. In Olas Predict, AI agents predict the future, using state-of-the-art AI models, then apply their predictions to on-chain markets. Learn more at olas.network.
About Valory
Valory is a research and deployment company at the intersection of crypto and AI, specifically the premier creator of open-source frameworks for co-owned AI. Its mission is to enable communities, organizations, and countries to co-own AI systems, beginning with decentralized autonomous agents. Valory is the VC-backed team of engineers, researchers, and commercial executors that co-founded the Olas DAO, contribute to the Olas Stack, and built the first services using it. They collaborate with those interested in creating their own autonomous agent-based apps and economies.
Useful links: Website, Twitter, LinkedIn, Github
Contact Info
Name: David Minarsch
+41 41 726 77 71
info@valory.xyz
SOURCE: Valory
View the original press release on accesswire.com
