Ai DeFi BOT

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Severoni
Project Owner

Ai DeFi BOT

Funding Requested

$5,000 USD

Expert Review
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Community
Star Filled Image Star Filled Image Star Filled Image Star Filled Image Star Filled Image 3.8 (4)

Overview

The problem we are trying to solve: not everyone has an “OG” friend to introduce them to the world of crypto and DeFi. Our vision is to build a generative AI chatbot tailored for crypto and DeFi, acting as a personal assistant to onboard new users and give super powers to the more experienced. Using a design science approach, we reviewed 74 academic papers and interviewed 10 experts to develop principles aligned with SingularityNET’s ethical AI vision. Our prototype 'DeFiGuideBot' embeds key principles of trust, security, user-centric design, and adaptive user interactions, supporting robust system performance and promoting economic flexibility.

Proposal Description

Full Project Proposal

Yes

Please explain how this future proposal will help our decentralized AI platform grow and how this ideation phase will contribute to that proposal.

The DeFiGuideBot proposal aims to enhance the decentralized AI ecosystem by simplifying crypto and DeFi onboarding and boosting decision-making capabilities. Key benefits include:

1. Enhancing Accessibility and User Engagement: The chatbot automates and personalizes guidance, making DeFi more accessible for newcomers and enriching experienced users' insights, thereby increasing user engagement and financial literacy.

2. Fostering Collaboration and Open Source Development: The project relies on collaboration with AI/crypto experts and communities like Bitcoin and Cardano, ensuring high development standards and alignment with DeFi trends. Its open-source nature encourages community contributions and collaborative innovation.

3. Driving Adoption and Financial Inclusivity: By demystifying DeFi, the project lowers entry barriers, broadens adoption, and promotes financial inclusivity within the cryptocurrency ecosystem.

Clarify what outcomes (if any) will stop you from submitting a complete proposal in the next round.

n/a

The core problem we are aiming to solve

The DeFiGuideBot project tackles the challenge of navigating the complex DeFi ecosystem, which often deters user engagement due to its intricacies. By introducing a generative AI chatbot, this tool acts as a personal assistant, offering tailored guidance and real-time decision support to both new and experienced users. It simplifies the onboarding process for newcomers and enhances the experience for seasoned users with insights and personalized recommendations. The goal is to improve user engagement, boost financial literacy, and foster a more inclusive DeFi environment on platforms like Bitcoin and Cardano.

Our specific solution to this problem

The DeFiGuideBot project introduces a generative AI chatbot designed for the crypto and DeFi sectors. Serving as a personal assistant, it aims to simplify onboarding and enhance decision-making for users of all experience levels. Here's how it operates:

Personalized Guidance: The chatbot leverages advanced AI to provide tailored, intelligent cryptocurrency advice, adapting to both newcomers and experienced traders.

Enhanced User Interaction: Adaptive learning algorithms help the chatbot learn from user behavior, ensuring information is highly relevant and personalized.

Integration with DeFi Protocols: The chatbot integrates with various DeFi protocols, enhancing its functionality by providing timely information and executing commands within the ecosystem.

Community Testing and Feedback: The chatbot is refined through community testing and feedback, using a design science research approach to fine-tune its capabilities.

Open Source Collaboration: As an open-source initiative, DeFiGuideBot encourages contributions from developers worldwide, fostering innovation and continual improvement.

This project aims to increase user engagement and financial literacy, making the DeFi environment more accessible and inclusive.

Our team

Severin Bonnet, Osnabrück University researcher since 2021, focuses on blockchain and AI, publishing in top journals.

Troy Egan, PhD candidate at the University of Auckland, studies peer production in transmedia with 20 years in community sectors.

Jan-Gero Alexander Hannemann, pursuing Blockchain Technology at the University of Nicosia, founded tech startups, leads DAOs, and contributes to blockchain legislation discussions.

View Team

What we still need besides budget?

Yes

Describe the resources you still need

generative AI chatbot developer(s)

Existing resources we will leverage for this project

No

Proposal Video

Placeholder for Spotlight Day Pitch-presentations. Video's will be added by the DF team when available.

  • Total Milestones

    4

  • Total Budget

    $5,000 USD

  • Last Updated

    13 May 2024

Milestone 1 - Initialization and Team Formation

Description

This milestone involves setting up the foundational aspects of the project. Tasks include defining the project's scope, objectives, and timelines. The next step is assembling a diverse team of professionals, such as AI developers, blockchain experts, and project managers, who will collaborate to bring the chatbot to life. Establishing clear roles and communication channels within the team is also critical during this phase.

Deliverables

A project charter that includes the project scope, objectives, and detailed timelines. Additionally, the formation of a multidisciplinary team with clearly defined roles, responsibilities, and communication protocols.

Budget

$1,000 USD

Milestone 2 - Development of AI Prototypes

Description

At this stage, the team develops initial versions of the AI chatbot. This involves programming the chatbot’s core functionalities, including natural language processing capabilities, and integrating initial datasets to train the AI models. Multiple prototypes may be created to explore different approaches to user interaction and AI behavior. This phase is crucial for setting the technical foundation upon which the chatbot will operate.

Deliverables

A set of functional AI prototypes showcasing different functionalities and user interaction strategies. This includes documented code, initial AI model configurations, and a report on the prototypes’ performance against pre-defined benchmarks.

Budget

$2,000 USD

Milestone 3 - Community Testing and Feedback

Description

The prototypes are released to a community of users for beta testing. This milestone focuses on collecting user feedback to identify bugs, usability issues, and areas for improvement. Engaging with the community is vital to understand the user experience and to gather insights that will refine the chatbot's functionality and user interface.

Deliverables

A detailed feedback report compiled from community testing, including bug reports, usability improvement suggestions, and user experience analytics. This should also come with a revised prototype addressing the initial feedback.

Budget

$1,000 USD

Milestone 4 - Launch and Iteration Based on User Adoption

Description

The final milestone involves the official launch of the chatbot to the public. Following the launch, the project team monitors the chatbot’s performance and adoption rates closely. Continuous iteration based on user feedback and adoption metrics is crucial. The team may need to make adjustments to improve user engagement, add new features, or enhance the chatbot’s AI capabilities to better meet user needs and adapt to evolving DeFi market conditions.

Deliverables

A launch plan detailing marketing, distribution, and support strategies, followed by an iterative update roadmap based on ongoing user feedback collection and performance analytics. This also includes a user adoption report that highlights engagement metrics and user satisfaction scores post-launch.

Budget

$1,000 USD

Join the Discussion (2)

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2 Comments
  • 0
    commentator-avatar
    Ubio Obu
    May 16, 2024 | 11:00 PM

    This is to clarify that ideation has a goal, the goal is to prepare ideas for the New project, not to launch but to do the initial framework for the project, you still have time to make some changes to align with this goal, your milestone shows you are rather trying to launch a product which is not the exact intent of this pool

  • 0
    commentator-avatar
    IlumNguyen
    May 15, 2024 | 2:57 AM

    This proposal is fantastic and it has significant impacts on the Singularity ecosystem, enhancing user interaction and experience through AI chatbots. If successful, it will attract a large number of users to the platform, and in the process of attraction, an effective and specific marketing strategy is needed. I believe it would be more convincing if the team could provide more details on the marketing plan after the beta launch and specify the costs for each specific task to ensure the marketing campaign achieves the best results.  Also hope that you could provide us with some feedback on the proposal to help us improve it further. Thank you very much. https://deepfunding.ai/proposal/play-quizz-explore-singularity-ecosystem/

Reviews & Rating

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4 ratings
  • 0
    user-icon
    Max1524
    May 18, 2024 | 12:41 PM

    Overall

    4

    • Feasibility 4
    • Viability 4
    • Desirabilty 4
    • Usefulness 4
    Be aware of the competition

    The team that applies the current hot technology - AI chatbot - must affirm its superiority even in processing cryptocurrency data.
    But we must also mention the risk of competition from mass-industrial-style cryptocurrency instructors.
    And this competition is something I want to remind the team to pay attention to and have a plan to fix and improve early.

  • 0
    user-icon
    Gombilla
    May 17, 2024 | 11:19 AM

    Overall

    4

    • Feasibility 3
    • Viability 3
    • Desirabilty 4
    • Usefulness 4
    Enhances Economic Flexibility & User Experience

    By empowering users with information and tools to navigate DeFi, the bot enhances economic flexibility within the SingularityNet ecosystem, potentially driving adoption and usage of AI-powered financial services. Also, through user-centric design and adaptive interactions, the bot can improve the overall user experience, promoting engagement and retention within the SingularityNet ecosystem.

  • 0
    user-icon
    CLEMENT
    May 17, 2024 | 11:15 AM

    Overall

    4

    • Feasibility 4
    • Viability 3
    • Desirabilty 4
    • Usefulness 4
    Proposal outcome will enhance Knowledge Sharing

    The bot's ability to provide guidance and support to both novice and experienced users contributes to knowledge sharing within the community, promoting learning and skill development.

    By extension, the addition of the Ai DeFi BOT to the SingularityNet marketplace expands the range of AI services available, catering to the specific needs of users interested in crypto and DeFi applications.

  • 0
    user-icon
    Joseph Gastoni
    May 14, 2024 | 7:03 AM

    Overall

    3

    • Feasibility 3
    • Viability 3
    • Desirabilty 2
    • Usefulness 3
    A promising project with a well-defined target

    DeFiGuideBot is a promising project with a well-defined target audience. Careful planning and execution are required to ensure the accuracy of financial advice, build user trust, and integrate with DeFi platforms. Demonstrating the effectiveness of the AI assistant in improving user understanding is crucial.

    This project to create a crypto and DeFi AI chatbot assistant has the potential to be valuable for both beginners and experienced users. Here's a breakdown of its strengths and weaknesses:

    Feasibility:

    • High: Generative AI chatbot technology is actively developed, and crypto/DeFi data integration seems achievable.
    • Strengths: The proposal outlines a clear technical approach with user personalization and integration with DeFi protocols.
    • Weaknesses: The complexity of the AI model and ensuring accurate financial guidance require expertise.

    Viability:

    • Moderate: Success depends on attracting users, integrating with DeFi platforms, and building trust in financial advice.
    • Strengths: The focus on user-friendliness and open-source development can attract users and developers.
    • Weaknesses: Competition from existing crypto education resources and potential user hesitancy towards AI financial advice are challenges.

    Desirability:

    • High: A user-friendly AI assistant for navigating the complex DeFi world can be desirable.
    • Strengths: The focus on personalized guidance, decision support, and catering to both beginners and experienced users increases appeal.
    • Weaknesses: The effectiveness of the AI's financial recommendations and user trust in AI for financial guidance need to be addressed.

    Usefulness:

    • High: DeFiGuideBot has the potential to be a valuable tool for users to learn about DeFi and make informed decisions.
    • Strengths: The combination of AI-powered guidance, adaptive learning, and integration with DeFi protocols can be highly beneficial.
    • Weaknesses: The effectiveness of the AI assistant in improving user understanding and financial literacy needs evaluation.

    Besides, the project should consider:

    • Transparency in how the AI generates financial advice and clear disclaimers are crucial to build trust with users.
    • Integration with popular DeFi platforms and collaboration with crypto communities can increase user base and adoption.
    • A clear strategy for ongoing development, maintenance, and improvement based on user feedback is important.

    Here are some strengths of this project:

    • Focuses on a specific user pain point - navigating the complexities of DeFi.
    • Offers a unique solution - a personalized AI assistant for crypto and DeFi.
    • Emphasizes user-friendliness, open-source development, and community involvement.

    Here are some challenges to address:

    • Ensuring the accuracy and reliability of AI-generated financial advice.
    • Building trust with users who may be hesitant about AI for financial guidance.
    • Integrating with various DeFi platforms and keeping up with evolving trends.

    By focusing on transparency, building trust, and continuous improvement based on user feedback, DeFiGuideBot can become a valuable tool for users to explore the exciting world of DeFi.

     

Summary

Overall Community

3.8

from 4 reviews
  • 5
    0
  • 4
    3
  • 3
    1
  • 2
    0
  • 1
    0

Feasibility

3.5

from 4 reviews

Viability

3.3

from 4 reviews

Desirabilty

3.5

from 4 reviews

Usefulness

3.8

from 4 reviews