Empyreal Community Call: Roadmap Edition (Feb 2024)
How is our roadmap charting a course to enabling AI-powered DeFi with our SDK, allowing users of protocols and dApps to deploy AI agents which will contribute to Empyreal revenue with each transaction?
Facilitating complex AI agent requirements. Our cloud-native architecture ensures scalable and efficient data pipelines for AI agents, enabling streamlined blockchain data processing to meet their sophisticated needs in web3 environments.
Optimizing AI model learning. By developing scalable data pipelines that transform diverse datasets from sources like DEXes into accessible formats, we provide AI models and agents with the critical, structured data they need.
Enhancing AI decision-making. Our use of distributed computing technologies like Apache Beam allows for rapid processing of vast blockchain data volumes, crucial for AI agents to perform timely and complex analyses.
Accelerating AI analysis. Our data lake stores and manages extensive raw blockchain data, enabling parallel processing that significantly speeds up complex queries for real-time AI decision-making.
Scalable deployment of AI agents. We’re creating a cloud-native environment that supports the deployment of AI agents reacting to dynamic data feeds, ensuring they operate with a deep understanding of both historical and current blockchain data.
Automating securely with privacy. Our focus on leveraging cloud-native infrastructure for both automation and privacy technologies, like the Enclave using Oasis Sapphire, allows for secure private transactions without compromising privacy or private keys.
Trustless execution of trading strategies. We’re establishing trustless mechanisms for deploying trading strategies, allowing for the precise control over actions executed by AI agents, enhancing security for our partners and users.
Empowering strategy-specific data feeds. Our infrastructure enables the customization of data feeds crucial for AI-driven trading strategies, providing the flexibility to subscribe to tailored data sets for real-time and historical strategy execution.
SDK development for trading strategies. We’re enhancing the SDK for strategies like DCA and grid trading, emphasizing minimal trust requirements.
Onboarding trader power users and strategy deployment. We’ll be allowing trader power users to test and deploy trading strategies, learning from their needs to refine the SDK and possibly develop a user-friendly frontend for traders.
Partnerships Update
Banana: Collaborating on their web app which utilizes EmpyrealSDK for swap data and token pair information.
LogX: Enhancing automation and trading strategies, especially for order book trading.
UniTerminal: Working on transfer data and metrics to improve user experience, addressing the challenge of parsing large datasets.
TokenSight: Providing OHLCV data, addressing the common challenge of sourcing this information for various applications.
Community Q&A
Q: Will the AI agents built on Empyreal SDK become part of revenue generator alongside the data stream and any protocol partnerships?
A: Yes, AI agents and trading strategies are central to our revenue generation model, with every trade generating revenue that benefits Empyreal and our partners, contributing to the yield for token holders.
Q: What are one to two things you’re currently working on that you’re most excited about?
A: We see opportunities for automation beyond trading strategies, like arbitrage and managing protocol revenue, as broadly applicable. Our work with PeaPods on EMP pods showcased our infrastructure’s capability to address a wide range of problems, signaling the versatility of our system for different use cases.
Q: How do you see the team changing or expanding over the next six to twelve months?
A: We aim to hire one or two more team members, especially a data scientist or quant, to enhance our focus on automation and strategy development. A quant hire could significantly influence our product decisions by applying traditional trading principles to our infrastructure.
Q: What are one or two most underappreciated things about Empyreal that if better understood by the wider market, you’d see significantly increased adoption?
A: We believe the Enclave’s fast, privacy-preserving bridging capabilities are underappreciated. Its potential for wallet abstraction and privacy layers across networks could significantly impact if more widely understood and adopted.
Q: As the market gets more bullish, is it making it harder or easier to find good partners?
A: While a bullish market may increase potential partnership opportunities, our focus remains on well-scoped work and solid existing partnerships. We’re not in urgent need of new partners due to the promising potential and growth trajectories of our current collaborations.
Q: What are you looking for in your protocol partners?
A: We seek teams committed to innovation and solving real user problems sustainably. It’s crucial that our partners are focused on long-term solutions rather than short-term gains.
Q: Any type of protocol that you haven’t partnered with yet that you’re keen on working with?
A: We’re interested in exploring partnerships in the yield and LRT space, recognizing the early stage of LRT protocols. Yield management is particularly appealing due to its optimization potential and the value it can add to DeFi participants.
Q: When do you plan to start sharing specific revenue data, historical and also running consistently going forward?
A: We’re approaching a point where sharing revenue data and initiating staking becomes viable, with a bullish estimate for early April and a conservative estimate for later in Q3.
Q: Possibility of buyback and burn in the future?
A: We are not considering buybacks and burns as they rarely offer long-term benefits to the protocol; our focus is on adding substantive value rather than affecting the price through buybacks.
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