Imagine a multi-chain AI infrastructure that offers AI-powered tools and technologies to both users and developers. This is where ChainGPT comes in!
ChainGPT, also known by the market ticker CGPT, is a multi-chain AI infrastructure platform that develops AI-powered tools and technologies for both blockchain networks and Web3 applications.
These applications, which include an AI chatbot, AI NFT generator, Smart Contract Auditor, AI Trading Assistant, AI Blockchain Analytics, and more, highlight how ChainGPT is designed for both end users and developers.
Better yet, ChainGPT does not gatekeep any of the technologies it creates. This means everyone is welcome to access their APIs and SDKs.
So, how does ChainGPT work exactly, and what are the tokenomics of the CGPT token?
Today we find out!
What is ChainGPT?
ChainGPT was founded by Ilan in 2022, with the platform itself going live in 2023.
ChainGPT envisions a future where advanced AI technologies power the decentralised Web3, blockchain, and crypto landscapes, and ensure these new AI technologies are accessible, efficient, and user-friendly for all.
At its core, ChainGPT is a Generative Pre-trained Transformer that was created to be deployed across blockchain networks and web3 apps.
To break that down, Generative means Generative AI, which is a technology capable of producing content such as text and imagery.
Next, Pre-trained refers to pre-trained models which are saved networks that have already been taught to resolve a problem or accomplish a specific task using a large data set.
And lastly, we have Transformer. A transformer is a form of deep learning architecture that transforms an input into another type of output, for example turning a text prompt into a visual image.
Though, I don’t want you to think of ChainGPT as just a version of ChatGPT or Midjourney on the blockchain as that would be inaccurate.
ChainGPT also utilises this same AI technology to generate smart contracts as well as audit them, in addition to also providing an AI Trading Assistant, showing the ecosystem goes much deeper than simple text to prompt generation.
But that leads us to the question, how does it all work?
How does ChainGPT work?
ChainGPT is a multi-chain product, having first launched as a BEP-20 token on the Binance Smart Chain, before venturing out into the Ethereum as an ERC-20 token, Polygon, and Avalanche networks, as well as picking up partnerships along the way with platforms like Chainlink, and Tron.
As you might expect having previously been both a BEP-20 and ERC-20 token, the ChainGPT network is a Proof-of-Stake based network, though its exact consensus mechanism isn’t public knowledge.
BEP-20 tokens, similarly to ERC-20 tokens, are a type of token standardisation blueprint that ensure compatibility with the host network. BEP-20 for Binance and ERC-20 for Ethereum.
ChainGPT offers a three-model plan for both users and developers.
The first, and easiest to explain, is the free plan. Limited features, but no price tag attached.
Second, there is the “PPP Plan” meaning ‘Pay-Per-Prompt’ which offers access to more features and charges a set, per prompt fee.
Finally, the ‘Freemium’ tier, where those with over 200,000 CGPT tokens staked to the network get access to all the features of the PPP Plan, and also access to the DAO governance.
But what exactly are you paying for and what makes ChainGPT unique?
What makes ChainGPT unique?
ChainGPT is unique because it is the hub through which all of your AI blockchain-related needs can likely be processed.
The list of services currently offered by ChainGPT includes the ChainGPT Chat Bot, an AI NFT Generator, AI Generated News, Solidity Smart Contract Generator & Auditor, ChainGPT Pad, SDK/API Access, AI Trading Assistant, and CryptoGuard.
The ChainGPT Chat Bot and AI NFT Generator are pretty self-explanatory for anyone familiar with ChatGPT or Midjourney.
The AI Generated News isn’t as bad as you’re thinking, as it’s not just using predictive generative text but seems to actively utilise the internet before making its entries.
Solidity Smart Contract Generator & Auditor, also does what it says on the packaging.
Solidity is the smart contract programming language of Ethereum and other networks, and ChainGPT’s AI has a model designed to aid with Ethereum smart contract scripting.
It also additionally provides a Solidity Smart Contract Auditor to help ensure no bugs are missed in the code, or any other code you wish to use.
ChainGPT Pad is similar to Binance’s Launchpad and can be described as the decentralised fundraising platform incubating and launching the next generation of GameFi, AI, DeFi, and SocialFi projects.
The SDK and API Access refers to their openness around their intellectual properties, by offering SDK and API access for all their products.
Whether a company is looking for a plug-and-play solution via the API or a more tailored approach using the SDK, ChainGPT aims to ensure that businesses of all sizes can benefit.
There is also an AI Trading Assistant that helps you make trading opportunities, and lastly, there is CryptoGuard.
CryptoGuard is an AI-powered security extension that offers collaborative anti-fraud, phishing site blockers, and real-time scans.
But how about the tokenomics?
CGPT Tokenomics
Like most Proof-of-Stake tokens, the CGPT token can be used for the classics such as payments, staking, and governance.
By the time the various lengths of the vesting schedules have all ended, the distribution of the CGPT token will look as follows:
11% will have been sold during the Private A funding round, a further 5% during the Private B funding round, and a final 9% was sold during the Public funding round.
20% will be given towards Liquidity, 9% towards the Team, 4% towards Development, 3% towards Advisors, 9% towards the DAO, another 9% to Marketing, 10% to the Reserve, 6% to KOLs, and 5% to the Farm.
Although a wallet explorer exists, it is not labelled so it is currently unclear how many of the larger wallet sizes should be of concern to investors.
Overall, ChainGPT gives you the complete AI package.
Whether you are a user or developer, ChainGPT will likely have the app you are looking for if it’s an AI-related platform on the blockchain.
Being so new, and with AI being so trendy in recent months, it is hard to tell how exactly the future will play out for ChainGPT.
One thing does seem likely though, which is now that GPT technologies exist, it is very unlikely they will disappear.
Meaning, should ChainGPT manage to avoid any mismanagement from the top, they have certainly positioned themselves well for the future that comes.
But, as always, nothing is ever guaranteed in crypto, of course.
How to create a ChainGPT wallet
Step 1: Visit https://trustwallet.com If you already have a Trust Wallet, skip to Step 5.
Step 2: Download and install Trust Wallet from your mobile app store or your browser.
Step 3: Open Trust Wallet and create a new wallet or import an existing one.
Step 4: Once your wallet is set up, tap on the “Add Token” button.
Step 5: In the search bar, type “ChainGPT” or “CGPT” to find the token.
Step 6: Tap on the CGPT token and select “Add to Wallet” to add it to your Trust Wallet.
After adding CGPT to your Trust Wallet, you will be able to view your CGPT balance and perform transactions with the token.
If you want to support the blog, please donating $CGPT to this address: 0xE2f3AD92f7C82C8aF5E54706813D0cB7B1dA1F3a