What would I like my AI agent to do at a minimum?
“Dear AI agent, take control of my wallet and generate a minimum 30% APY while maintaining a conservative risk profile to avoid excessive exposure.”
30% is not a lot in crypto terms, but it’s enough to beat the S&P 500. Because I specified “conservative,” The agent is likely to err cautiously and work only with contracts which have been successfully battle tested over a period of at least 12 months.
Pendle could be used by an agent, to help lock in my capital for a PT Yield trade involving only “blue-chip” Ethena or Aave are two of the most popular protocols.
When I said, “30% APY,” The agent will presumably steer clear of a low-yield PT such as stETH (3.2% at present).
An agent might rationalize by saying that ETH will reach a $5k price in a bullish market, a 44 percent increase over today’s value. The agent will invest the money in ETH, and perhaps stake it at Lido to earn a 3% yield without risk.
The agent must be prepared to switch it to a stablecoin as soon as possible, depending on the volatility of the market and any black swans which may cause the ETH price to plummet.
The agent told me “conservative,” Airdrop farming is not an option, given that there’s a long time window between the points you earn and when the project actually airdrops (too many risks!).).
This isn’t an unreasonable benchmark — “Non-KYC AI agents on blockchain rails” Crypto Twitter is a rallying cry that has been embraced by many.
I’m not sure, but I think there’s no reliable way yet for AI agents (Frax Finance’s AI IQ project could be one).
Haseeb Qureshi of Dragonfly Capital stated on a Steady Lads recent podcast that AI agents today are closer to “Wizard of Oz”Agents who lack long-term planning and don’t make money transfers in order to achieve goals.
What we find instead, amid all the AI crypto hysteria, are AI-branded mecoins. AI chatbots. And lots of infrastructure plays.
Memecoins are plentiful, as is slapping. “AI” It’s just marketing. Web2 already has virtual chatbots, like Luna. Adding a token to them doesn’t really make them new.
It’s probably important to have a frenzy of infrastructure around frameworks and launchpads, but we still need to see autonomous and agentic agents.
This is the nearest we can get to “utility-based” Agents scraping social media to create an alpha-feed, like aixbt, are the most popular agents.
This entire thought process is missing the main point. The biggest story in what appears to be the bulliest year for crypto will see “number go up” regardless.
It is hard to believe that AI agents can convince an investor who has no critical thinking skills.
NFTs of 2020 for example, were dripping with legitimacy. The story that propelled NFTs — immutable art pieces — into the mainstream was a stretch, but all the technological pieces were in place. AI agents still have a long way to go before they can make the connection between meme and real life.
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