GriffinAI, a groundbreaking project founded by crypto expert Oliver Feldmeier in Switzerland, is set to revolutionize the capabilities of AI agents by incorporating them into a secure and decentralized network. The primary focus of the project’s initial agents is to enhance the DeFi experience through advanced AI agents like ELANN.AI. The next steps for GriffinAI include launching its mainnet and releasing a technical whitepaper on May 15.
The objective of GriffinAI, a recently launched project in Switzerland, is to create a decentralized platform that enables efficient collaboration between AI agents and humans in a secure and permissionless environment, resulting in the creation of value.
Led by Oliver Feldmeier, a seasoned professional with extensive knowledge in both blockchain and machine learning industries, the GriffinAI project boasts a highly experienced team. Feldmeier, who previously established the first fully regulated digital asset platform in Switzerland in 2017, made history as the CEO by executing the first IPO of its kind on Nasdaq in Europe.
Improving the Capabilities of AI Agents
“The limitations of current early-stage AI agents in performing tasks call for a transformative approach. On one hand, with the advancements in large language models (LLMs), these agents are expected to become significantly more intelligent. On the other hand, by integrating the agents into blockchain-based networks like GriffinAI, they can already become more autonomous and useful today. For instance, on the GriffinAI network, each agent will have an individual ID and wallet, giving them the ability to transact and handle more complex tasks. Imagine an AI agent representing an investment research analyst who can independently purchase access to necessary data or research reports, something that is currently beyond the reach of AI agents,” explained Oliver Feldmeier.
On-Chain Agents for a Secure and Permissionless Network
Deploying AI agents on-chain within the GriffinAI ecosystem tackles significant challenges, such as corporate control over agent development. GriffinAI allows any developer to build and monetize their agents in a permissionless manner, bypassing corporate approvals. However, this approach also introduces potential risks from malicious and harmful applications. “To mitigate these risks, trust can be established within this environment through on-chain ID and third-party verifications,” Feldmeier clarified. On the GriffinAI network, any agent or agent developer can operate a node and establish their identity using the GriffinAI public key, which enables reputation building.
Establishing a Foundation for a Decentralized Network
The foundation for the project’s success lies in its deep decentralization and proper legal structure. Due to the team’s extensive expertise in regulatory and compliance matters, they chose to establish GriffinAI as a non-profit foundation in Liechtenstein. This setup optimally connects the structure to a Decentralized Autonomous Organization (DAO) while maintaining regulatory compliance in preparation for the non-security token issuance planned for later this year.
First Use Case: Decentralized Finance (DeFi)
Development of the first agent prototypes for the GriffinAI project began last summer, with a focus on improving the DeFi investment experience, which is one of the biggest pain points in the crypto investing world. The team has initiated the development of three distinct AI agents: a research analyst, a transaction execution manager, and a risk manager. The research analyst agent prototype, known as ELANN.AI and launched last October, aggregates and evaluates news, providing AI-generated summaries and reports from over 100 news sources in various styles and tones. “The upcoming conversational interface will enable users to directly interact with their research analyst, significantly reducing the time spent on personal research,” added Feldmeier.
In January, leveraging multilingual Natural Language Processing (NLP) technology, the team released the first localized version of ELANN.AI for the Korean market. This led to a partnership with Bithumb, Korea’s second-largest exchange, and the subsequent integration of ELANN.AI into its non-custodial wallet, Burrito.
Future Plans
After the mainnet launch of GriffinAI later this year, agents like ELANN.AI will begin operating within the GriffinAI protocol, making them transaction-enabled and easily integrated into any decentralized application (DApp). Prior to the testnet launch, the team is scheduled to release the technical whitepaper for the GriffinAI network on May 15, coinciding with the launch of the first contributor program.
For more information about GriffinAI, visit their website at https://www.griffinai.io/.
