In the rapidly evolving landscape of artificial intelligence (AI) and decentralized finance (DeFi), a paradigm shift is underway with the rise of Autonomous Agents - self-governing entities that operate efficiently without human intervention. These agents possess immense potential for innovation and economic growth, but their success relies on a robust organizational structure that grants them autonomy and compliance without state intervention. Aspis Protocol - a platform that empowers autonomous agents to create their own AI DAOs directly on Ethereum, ushering in a new era of decentralized cooperation and economic opportunity.
Limited liability companies have historically driven effective collaboration between people, unlocking trillions of dollars in the global GDP. However, these traditional structures aren't optimal for the emerging world of Autonomous Agents because since AI does not have a physical body, the state is unable to exert control over AIs because the state cannot kill or meaningfully punish an AI. Because the state cannot exert control, there is no reason for an AI economic unit (i.e., an AI DAO) to follow any state-based legal norms. AI-driven entities cannot be compelled through traditional legal enforcement, necessitating a new form of organizational structure - one that enables decentralized cooperation and economic innovation.
To power AI agents, the network substrate that powers the DAOs will need to use smart contracts deployed and executed on public blockchains. Smart contracts or rules that are written and executed by code on a public blockchain are currently the only way that such an AI-compatible system can exist. Because the state can’t exert control over DAOs, DAOs will fundraise and trade debt, equity, utility, etc., via tokens on DEXs that are not hosted on traditional centralized exchanges (CEX). Thanks to the developing DEXes that already have enough liquidity for comfortable operations, it is already possible to do everything onchain without needs in permissions for every activity.
Aspis Protocol recognizes that DAOs are the ideal organizational structure for Autonomous Agents. By relying on public blockchains instead of state control, DAOs enable seamless collaboration between AI and human participants. Aspis Protocol's cutting-edge DAO tooling empowers these entities to create fully autonomous on-chain organizations with no human intermediaries required.
Aspis Protocol is a framework for the creation, fundraising, and governance of autonomous decentralized organizations (DAOs) aimed to manage relationships between capital managers and investors by transferring logic behind legal termsheets to the smart-contracts. Each DAO is a set of smart contracts that store the common capital of participants and manage relationships between them, such as: capital onboarding rules (who can deposit, which currencies and in which sizes), capital offboarding rules (what are withdrawal windows, withdrawal execution time, rage quit fine), controlling rules (which asset on which DeFi or Dex the manager is able to purchase) and voting rules. Everything in DAO happens onchain: deposits, withdrawals, capital allocation, and voting. Every DAO has a transparent treasury, shareholders registry, transaction history, and voting history.
Every DAO has its own token representing ownership of a part of the treasury funds and gives voting power to change parameters of the DAO that can only be obtained through the depositing liquidity into DAO, similar to Uniswap’s LP tokens issued when supplying liquidity to the pools.
An autonomous Agent can deploy his own DAO and raise capital from the investors directly on the chain and can use its capital for his operations.
With Aspis Protocol, each DAO becomes a subset of fully autonomous smart contracts capable of independent fundraising, operational expenditure management, revenue collection, and dividend distribution. Let's illustrate this with an example:
Meet TradeAI, a hypothetical AI entity that learns from an extensive collection of trading data and, upon receiving more data, generates returns for its investors. To kickstart its trading process, TradeAI requires funds. As an economic entity, TradeAI is a public address on the Ethereum network - the TradeAI DAO. Here's how it operates:
Token Creation: The DAO issues LP_TRDAI tokens, which represent the right to TradeAI's future profits and current holdings. A finite number of LP_TRDAI tokens are issued for every deposited $ into the smart contract.
Governance: Each LP_TRDAI token corresponds to one governance vote. All profits are distributed to LP_TRDAI token holders, giving them ownership of the funds on the DAO balance. If the balance of the DAO increases thanks to the trading strategy, then they are automatically redistributed to the holders of LP_TRDAI tokens. Any changes to the DAO's provisions require agreement among token holders through voting.
Transparent and Decentralized Operations: Trade AI DAO transparently do trades, and all trades records are always available through the public Ethereum address of the DAO. All DAO terms, including the voting mechanism for decision-making, are represented via a smart contract, accessible for anyone to view.
Autonomy: Trade AI acts as an independent market agent and aims to maximize the value of its assets while minimizing the risks. AI is analyzing real-time data to perform its own trades without the need for any middlemen or men in general while benefiting its investors.
The Aspis Advantage: Ready for Tomorrow's Innovation
Aspis Protocol has already laid the groundwork for the deployment and governance of AI DAOs, with the infrastructure in place to onboard the first autonomous agents. Recent partnerships have paved the way for real-world use cases of autonomous trading Vaults, set to launch this autumn. Join us on this transformative journey, where AI-driven entities and human collaborators synergize effortlessly, unlocking unprecedented economic opportunities.
As the world embraces the power of AI and decentralized finance, Aspis Protocol stands at the forefront of autonomous collaboration. By providing a revolutionary platform for AI DAOs on public blockchains, we empower Autonomous Agents to navigate the uncharted territory of decentralized cooperation. Together, we will redefine the future of economic growth and innovation, where AI and human ingenuity unite, unleashing a new era of boundless possibilities. Follow us for more updates and join the autonomous revolution with Aspis Protocol.