The Good Tech Companies - Omnity Network Launches Omnity AI

Episode Date: July 26, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/omnity-network-launches-omnity-ai. Omnity AI: Revolutionize token distribution on social media with AI-driven multichain Grants, launching on X. Expand Web3 communities securely and efficiently. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #blockchain, #ai, #press-release, #omnity, #omnity-network, #bitcoin, #good-company, and more. This story was written by: @pressreleases. Learn more about this writer by checking @pressreleases's about page, and for more stories, please visit hackernoon.com. Omnity AI is an AI-powered multichain protocol for distributing tokens on social media. Anyone (Grant Makers) can create a Grant (with crypto tokens) to invite social media activity (from Grant Takers) The first Omnity AI agent, xAgent, uses LLM (Large Language Model) natural language processing to determine and distribute grants.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Omniti Network launches Omniti AI by Hacker Noon Press Releases. Omniti Network, the first protocol to offer Bitcoin runes cross-chain transfers 100% on-chain with low fees and fast finality, is building an AI-driven blockchain token distribution protocol on top of its Omnichain asset hub that will be able to grant any crypto token to users on any social media platforms. At Chain Fusion Day, Bitcoin Nashville, 2024, Omniti Network introduced its new protocol Omniti AI. Omniti AI is an AI-powered multi-chain protocol for distributing tokens on social media. Anyone, grantmakers, can create a grant, with crypto tokens, to invite social media activity, from grant takers. Omniti AI will launch its first use

case on X this month, supporting Runes grants. The first Omniti AI agent, X-Agent, uses LLM, large language model, natural language processing to determine and distribute Runes grants to X users who engage with it. Here's how it works. A grant maker can deposit Bitcoin runes to the ex-agent and send a tweet using natural language to set tasks for grant takers to complete. When grant takers complete the tasks, they are awarded a portion of the runes grant based upon their contributions, which they can move to any ICP wallet directly, back to Bitcoin, or a Bitcoin Layer 2 via the Omnity Omnichain Hub. When a maker creates a grant on X, the X agent reads the tweet via X's API, interprets the tweet's intent through LLM,

and responds with specific grant settings. All in natural language. After a maker creates a grant, takers can fulfill makers' intents on X by offering a grant to promote their favorite meme coin, for example. Behind the scenes, another AI-powered component, the evaluator, determines grant allocations by analyzing takers' engagements. Makers can influence the rewards by interacting with takers with positive or negative feedback, such as liking, replying to praise, or disagreeing. This will help the evaluator become more accurate. In future iterations, fine-tuning the evaluator will be rewarded by Omniti Network's governance token, $OT, which will launch later this year. While the core component of Omniti Eye's initial launch, the X-Agent, operates within the X-Social

context, Omniti AI plans to develop agents for other social media platforms, like Farcaster. Similarly, while Omniti AI's first grantable asset is Bitcoin Runes, it plans to cover other blockchains, such as Ethereum and its L2s, Solana, Tun, etc. This will allow anyone to make a grant using any crypto tokens on any supported social media platforms, enabling AI-driven multi-chain crypto asset distribution. Omniti AI is possible because of two foundational pillars. First, it relies on ICP's Chain Fusion tech stack. Chain Fusion enables smart contracts on ICP to read and write directly to Bitcoin, Ethereum, and other blockchains.

In addition, the Omniti team's extensive experience with on-chain light clients equips the Omniti Omnichain Hub to communicate with many different blockchains safely, without relying on any intermediary entities. The second pillar is the ICP-DI infrastructure. ICP is the only blockchain that supports running AI models on-chain. This gives Omniti AI credible neutrality, transforming it from a token distribution tool to a token distribution protocol. Omniti AI's compute-intensive components, such as X-Agent and Evaluator, will initially run off-chain. Omniti AI's roadmap includes the on-chain migration of the X-Agent by the end of 2024,

with the Evaluator migrating on-chain once the the ex-agent by the end of 2024, with the evaluator migrating on-chain once the ICP-GPU subnet is ready. At that point, Omniti AI will be fully on-chain, serving all crypto communities without the risk of being manipulated by anyone. By integrating blockchain interoperability within a social media environment and leveraging the mighty force of LLM, Omniti AI will reconceptualize how memecoins issuers and Web3 projects can expand and consolidate their communities on social media. Thank you for listening to this Hackernoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.