Fungi Agent Grant Application

Grant
1

1. Contact information (Email or Telegram)

2. Project name

Fungi Agent

3. Project website

4. Please provide a 200-word (or less) summary of your project, specifically outlining the problem(s) you aim to solve and your proposed solutions.

DeFi has historically been challenging to use: it’s time-consuming, knowledge-gated, and risky. These are the reasons why despite being the future of finance, only 1% of 500M crypto holders worldwide are involved in DeFi.

However, at the same time, recent developments in AI and account abstraction make it possible to create new solutions that address this complexity. Here we believe that AI can unlock the full potential of DeFi.

But how does Fungi solve this problem?

The answer is by creating a DeFi AI Agent that enables users to perform on-chain transactions, execute automated DeFi strategies, and gain expert-level crypto insights through a simple, natural language interface.

5. Please provide a summary of the project that you are trying to build or have built. Please provide any links to a demo or git repository, if available.

Fungi is a DeFi AI Agent that enables users to perform on-chain transactions, execute automated DeFi strategies, and gain expert-level crypto insights through a simple, natural language interface.

Technically, Fungi is a smart intermediary that perceives a request from the user through a chat component (a prompt) and receives the state of the wallet to its memory to work as context for decision making. We’re using LLMs as the brain of Fungi and then we’re connecting this brain to a number of default tools like internet and blockchain search, the ability to perform any on-chain action, like swaps, liquidity providing, lending, yield farming, and more importantly, Hyphas.

A Hypha is an automated DeFi strategy created by the Fungi Community or the core dev team to enable the fungi Agent to navigate blockchain protocols and dApps autonomously. It could be a Yield Optimizer, a Liquidity Manager, an Algorithmic Trader, a DCA strategist, and many more.

Here is our prototype demo for you to try out: https://app.fungi.ag/

a couple of comments before using it:

  • Please consider that the product is in early stages and it most probably has bugs. Therefore, please deposit a small amount ($10 should be perfect).

  • You can log in with your EOA wallet or your socials (google, apple, email, phone number, etc). If you use social log in you’ll have a better UX since there is no need for signings.

  • The agent can execute swaps, bridges, and sendings. You can also conduct real-time internet search, blockchain transaction history, searching of any EVM wallet history.

  • Chains available are Base, Arbitrum, and Optimism. We recommend the usage of Base since it’s the main chain we’re focus on.

  • Gas fees are covered by Fungi on all chains.

  • There are many more integrations and ux improvements coming in the coming weeks, including the first hypha (automated defi strategy), batch transactions, more intelligence tools, etc. It’s not an mvp by any means.

  • The transaction history in the UI is not working 100%, we have to push a couple of commits in the coming days to fix it, but it’s only a bug from a front-end perspective.

  • Feedback is super super super welcome!

6. Please provide a summary of your project roadmap/timeline, and how you plan to utilize the grant.

Roadmap Summary

Captura de Pantalla 2024-09-10 a la(s) 2.33.21 p. m.
Captura de Pantalla 2024-09-10 a la(s) 2.33.21 p. m.848×328 148 KB

We finished the Prototype that you’ve just seen in the video only two months ago.

The next step is to launch our MVP together with $AGENT in October this year. The plan is to make an Airdrop to selected communities and on-chain users where they will experience the first airdrop claiming process in crypto using natural language. Also, a first incentivized liquidity manager hypha will be launched to increase $AGENT liquidity and reduce selling pressure.

Then, between September and January, we’ll be continuously shipping new product features like new networks, integrations, and Hyphas until January, where the Hypha Maker will be released to allow any community member to seamlessly launch a Hypha increasing community participation.

Then, we’ll release the Hypha Maker in January, a no-code solution that allows anyone to seamlessly launch a Hypha increasing community participation.

After that, our focus will move towards the launch of the Mobile App.

Tech Roadmap

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7. Please provide a short summary of your business model (if any).

We make money by charging transaction fees on every on-chain action and Hypha usage, so it would be a B2C transactional business model.

However, our goal is to move towards a subscription business model when our agent is robust enough to incorporate a paywall for premium services.

8. In which part of the grant are you interested? Please select all the items that capture your interest.

  • Baseline Grant ($1,500+)
  • Match Fund (Additional funding by Open Information Alliance members)
  • Community and Networking Support

9. Please provide a short summary about the team.

10. Is there any additional information you’d like to provide for this application? Links to decks or files may also be provided here.

We’re leveraging RSS3 to be eyes and earns of the Fungi Agent in blockchain related topics.

Feel free to check out our materials (deck, tech overview, go-to-market): DocSend

11. Do you have a referral code (ask whoever invited you to apply)? Don’t worry if you don’t have one; it will not affect your application in any way.

Talked to Kate and Jeff.

7 Likes
2

Looks legit, very interesting application of leverage RSS3 protocol to gather information for txes, looking forward to see how this plays out.

Few Qs
1- What’s the pwd to the deck?
2- Clear connection between RSS3 and Fungi?

1 Like
3

Hey Jack! Thanks for your reply!

1- Here is the password: Fungidcs24

2- We’re leveraging RSS3 to retrieve bockchain data and allow the users to query wallet and protocol activity. This has many potential uses cases, being one of the main ones the possibility of allowing an AI agent to copy the behaivour of another one. In additon, RSS3 is gonna be used to enable the Agent to get feedback on its own on-chain activity.

2 Likes
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AI Agents have all the potential to really become the next big thing, what Fungi is building is a game changer.

Integration RSS3 to retrieve more data and also feedback is for sure a very interesting approach and can improve the Fungi system.

Excited to see this project grow and evolve into one of the first, if not the first AI Agent in web3!

1 Like
5

Enabling an agent to copy another’s behavior by leveraging RSS3 is a groundbreaking use case that could drive mass adoption of the underlying technology. If we anticipate millions of specialized micro-agents entering the space, this is truly a game-changer.

1 Like
6

Very exciting the potential of connecting AI agents with crypto. :ok_hand:

1 Like