Project BAI (Blockchain AI Tools) Support request

WavesDAO Funding Proposals
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Introducing Project BAI (Blockchain AI Tools): Empowering Users to Shape AI Tool Development and Requesting 100 000$ Funding with BAI Token Compensation

Hello everyone,

We’re excited to introduce our groundbreaking initiative, Project BAI (Blockchain AI Tools). The primary vision behind BAI is to democratize and simplify access to Artificial Intelligence (AI) tools. By creating an inclusive platform, we aim to empower individuals and businesses of all sizes to leverage the transformative power of AI without needing extensive resources or expertise.

What is Project BAI?

BAI is a unique blockchain-based platform designed to provide easy access to a suite of compact AI tools. Our services include a YouTube summarizer, a brainstorming tool, access to the latest OpenAI API, and other large language models like GPT-4all and Vicuna, among others. BAI eliminates the need for users to individually register or subscribe to each of these tools, thereby providing a one-stop solution without the necessity to share personal information.

One of BAI’s unique features is the ability for users to suggest new AI tools. This active user participation is a crucial part of our strategy to democratize AI tools and make them accessible and useful to a wide range of individuals and businesses.

Our platform’s native cryptocurrency, the BAI token, serves a dual function: it can be used to pay for services and it also allows users to participate in the platform’s future development via a unique use-weighted voting system.

Why Blockchain?

By integrating blockchain technology, BAI ensures that all results generated by the AI tools are stored securely and perpetually on the blockchain. This architecture provides a transparent and decentralized platform, fostering a sense of ownership and control over the data generated by the users.

Our Team

The project is spearheaded by Christophe Verdot and Marc Jansen, both renowned figures with a wealth of experience in the Waves universe. Their diverse skill set and shared vision for democratizing access to AI tools form the driving force behind BAI.

Requesting 100 000$ Funding with BAI Token Compensation

In order to realize this project and to further develop and scale our platform, we are humbly seeking funding support. We are requesting 100 000$ in Waves. These funds will be directed towards enhancing our AI tools, maintaining the blockchain infrastructure, and marketing our platform to reach more potential users.

In return for your valuable contribution, we offer BAI 100.000 BAI tokens. This not only represents an investment in the project but also provides you with the opportunity to utilize the platform’s services and contribute to its evolution.

We strongly believe that BAI holds the potential to revolutionize how AI tools are developed, accessed, and used, leading to a more equitable and innovative digital future. With your support, we can bring this vision to life and truly empower our users.

BAI Token Sale

We’re also thrilled to announce that we plan to conduct a token sale, during which BAI tokens will be available for purchase at a fixed price of $1 each. This token sale presents a unique opportunity to be an early supporter of our project and to play an active role in shaping its future.

We strongly believe that BAI holds the potential to revolutionize how AI tools are developed, accessed, and used, leading to a more equitable and innovative digital future. With your support, we can bring this vision to life and truly empower our users.

Check our MVP and Whitepaper

You can view our Minimal Viable Product (MVP) and find detailed information about our project in our whitepaper.

MVP:
https://baitoken.dev/

WHITEPAPER:
https://baitoken.dev/files/whitepaper.pdf

We strongly believe that BAI holds the potential to revolutionize how AI tools are developed, accessed, and used, leading to a more equitable and innovative digital future. With your support, we can bring this vision to life and truly empower our users.

Please feel free to ask questions, provide suggestions, or express your support for our project in this thread.

Thank you for considering our proposal.

Best regards,

Christophe Verdot and Marc Jansen
BAI Project Team

1 Like
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So If I got it right, the project basically wraps api calls to AI endpoints?
You guys offer the dao 100k tokens, which is 1% for 100k dollar, which means your api wrapper project is worth 10m dollar right from the start?
There will be 600k tokens sold in the first year, do you think you will get enough users to make them spend 600k?
What is the dao benefit for investing in this project when they get the same price as the open market? What is the upside potential if they pay consumer prices?
What besides spending the token or some vote involvements are the benefits for holding the token? We have seen tokens with more use-cases dump way below the ido price since users mostly speculate.

Why would we want to store every request and response on the blockchain? What’s the added benefit?

In what country will the BAI token be registered? Will it be a european project?
What will happen with the tokens undefined in the WP? Which is basically the majority. Are there guarantees they won’t be dumped on the market when some project founders want to venture a new business opportunity?

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Hi Bram,

thank you very much for your interest in our project.

Unfortunately, your assumptions are not correct. It starts with the very first
sentence: if you would have read the WP carefully, you would have seen that the
project is not a simple API wrapper. The MVP is a wrapper for an OpenAI API, other
usecases are clearly more than a wrapper. The aim of the project is to provide
small and handy tools for the community based on AI API’s.

Second, the project is (obvioiusly) not worth 10M from the start. If you would
have read the WP, you would have seen that in the first year, we plan to release
500k tokens (this includes the tokens for the DAO), 300k in the second year and
additional 100k in the third year. Also the team token (1M) will just be released
after three years. The remaining 8M tokens are subject to decisions taken by the
project taking the userbase into consideration. This clearly describes an approach
in which we do not assume a certain value at the very beginning, nor not at all,
e.g., if the userbase vouches for burning the remaining 8M tokens.

The usecase of the token is very clearly described, yet, tools that may be
developed throughout the project, e.g., based on userbase suggestions may lead
to new usecases, which we are completely open to, but are not yet defined.

We are also open to provide a certain discount for the DAO. Yet, Discount is a
crucial topic here. The token is mainly a utility token, which means that every
token that we give out comes with an actual cost if the user uses it for the
services we provide, e.g., as fees for the underlying API’s. Therefore, we have
been very careful with formulating any discount. On the other hand, we understand
that the DAO should have certain benefits for an investment. Having this said,
we are currently working on a proposal that takes this into account. Expect
something about this beginning - mid of next week.

The major aim of this project is not to store every request on the blockchain,
this is rather a technicality. The aim of the project is to make AI tools widely
accessible.

As for the majority of the token, we are very open for suggestions, e.g., we can
think about vesting via an additional smart contract, or other solutions that
the community would suggest. More on this next week in our suggestion on how to
create benefits for the DAO.

We are also currently researching a couple of different possibilities for
countries in which the company can be registered, Europe is not very high on our
list, you should know best what the situation in Europe is about tokenizaation…

Anyway, we would appreciate if we can keep the discussion mature and respectfull.

Best,
Christophe and Marc

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Hello guys!

Appreciate your application.

I think it will be hard to attract as much as 100k in the first months of DAO launch, because there will be just 86,000 WAVES generated monthly and, obviously, many teams applying. I would recommend to split your application to batches and apply first with let say 50k, which seems to be much easier to attract.

PS. Haven’t researched your idea deeply yet, so no comments regarding it yet

Vladimir

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Hello,
Thanks for the fast response.
I asked christophe some questions in a more private chat, I was redirected to this forum.
I also don’t see what questions are not mature, especially since we raised many of those concerns during the WA days about other projects. Also it’s based on that private chat it feels to me as a AI API wrapper, and someone in that chat also suggested Bing could do the same. So I am sorry by misunderstanding the information provided by your business associate.

If I didn’t read the whitepaper, like I told the same to christophe in this more private chat, I obviously would not have found those numbers.

My real concerns is still the same, that it seems kind of hard to raise 600k in a year time, and so the DAO will never be able to take a profit in that sense unless they dump with a loss. I understand certain costs might be assigned with using those API’s, yet IF the dao would start follow up on the slashing principle and request 10% upside, then everyone approving it would be slashed. Ofc a big IF since those kpi etc are not defined yet.

AI might seem a nice venture to look into, but do you think with the current ecosystem state it’s a sustainable one?

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Ok, I’ve researched and tried the project!!! Wanted to ask some clarifications

  1. Requests to AI seem kinda centralized to me now, because they are operated by a single non-scripted oracle. The fair question is how we can be sure this oracle doesn’t overwrite/steal data. I’d expect something similar to Pepe Team bridge to be implemented, based on decentralized signature network. What are your plans regarding this?

  2. As a developer, I would really appreciate a Ride SDK for AI requests! This would definitely be a unique feature. This could be implemented as a “callback-system”, eg my app calls BAI and says “find result for prompt A then invoke dApp B”.

What I like, is your project is something very new to Waves. Keep going!!!

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Hi again,

as to your major concern. First of all, we are speaking about 500k in the first year, anyway, i guess that won’t erase your concern. Please wait till next week, as said, we are working on something that should provide way more advantages for the DAO. Yet, it is quite difficult to come up with a coherent idea, since we have many (very good) suggestions from the community alreaday and we currently try to bring them all under one umbrella. Together with the legal implications that might arise. Not easy, but we are working on it.

And yes, we believe that this is a profitable venture, otherwise we would not have embarged on it. :wink:

Best
Marc

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Hey Vlad,

thank you very much vor the interest in our project. Great to see that you took your time to research our project in depth. Both are very solid points, let me answer them seperately:

  1. Very important point, yet i wouldn’t consider our architecture at all centralized. Actually, since the agents could potentially be run by everybody, it is very well decentralized. We have plans to even encourage third party participants to run agents and provide the corresponding data. As for the overwriting thing: other agents can only submit data for tasks which they first have checked out (that might lead to other problems, but those are solvable over time). Currently, of course, the owner of the Smart Contract could overwrite the data. In order to prevent this, we plan to make the SC unchangable and also disallow data transactions. Currently, this is not done, since we are still in a development phase, in which most SC (at least on the Waves platform) are usually under central control.

  2. That’s actually a very good idea. We haven’t actually thought about this, but our architecture would absolutely allow for this. It is actually not even difficult to implement, we would just need a proxy method for registering AI tasks with two additional parameters: the contract and the callable which should be called on completion. Once the task is submitted, it could be checked if it is a “callback” task and the corresponding callable could be called, together with the result from the AI. Great idea! I don’t think that something like this exists already in the blockchain space.

The second point is exactly the way we would like to integrate our community in the project: we are pretty sure that there are great ideas outside, and together we would like to work on those.

Best
Marc

1 Like
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The available feature in the MVP is a wrapper, i agreed on that, all other incoming features are way more than that. We implemented the simplest one to the demo because, unlike many other support request, we choose to work on a proper WP and MVP before asking anything, to give a better global idea. Of course the full project remain to be built.

For this “other guy”, suggesting that bing could do it, i simply ignored it. It felt to me that the goal wasnt to have a constructive exchange, for several reasons that i wont share here, maybe it was a wrong assumptiom, but therefore i just cutted short and adviced to move the discussion publicly.

Anyway, I think its important to amphasize that the project aim to be multichain and these 500k token available on the first year arent necessary destinated only to Waves network/ users, gateways will be available for every new supported chain.

We definitely aim big as the current/future potential and interest for AI is even bigger and we fully believe in the profitability of the project.

I really like Vlad suggestion actually about the dApp SDK, i do actually plan to integrate BAI AI Image Generation feature into SIGN Art, when this is available on BAI and this suggestion make a lot of sens in that regard.

We are working on some changes and updates to be shared next week and that we believe will make the proposition more interesting.

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We extend our heartfelt appreciation for the valuable feedback received from the community in the past few days. The thoughtful responses have given us renewed confidence in the project’s potential success. With the initial feedback in hand, we are prepared to introduce some modifications to our plan.

We’ve noticed that the initial suggestions from the community for additional services have been extremely promising. Besides encouraging the community to propose fresh ideas, we also intend to enhance their participation in the project’s success. Looking back at our initial proposal, we acknowledge that it could have emphasized more on the involvement of the WavesDAO community. We received numerous queries regarding the benefits for the DAO.

In light of these, we propose a revised BAI token distribution strategy, which is aimed at improving the participation of the WavesDAO community in the project’s success and fostering their involvement in the platform’s development. For the initial investment, we are looking at providing 120,000 BAI tokens to WavesDAO for a contribution of $100,000, which corresponds to a 20% discount. Additionally, we propose to transfer an extra 4,000,000 BAI tokens vested over three years to a child DAO, which can then ideate project ideas for the BAI project. These extra 4M tokens come from the 8M tokens we initially planned to deploy after three years, following community feedback.

This revised strategy aligns well with our original plan and offers added advantages to WavesDAO, while we hope it will invigorate the WavesDAO members to actively participate in the project’s growth.

The remaining 4M tokens will follow the planned path: we will seek user opinions on their allocation, and the project team will make the final decision based on community feedback through our own DAO like dApp where voting power comes from platform usage rather than token holding as explained in our WP.

For practical purposes, we’re considering breaking down our $100,000 request into two, each of $50,000 with a 1 month interval. This would facilitate the linear distribution of the proposed tokens to the DAO.

Please note that the suggested changes are currently under legal review to ensure compliance with all relevant legal stipulations. In that regard, for example, if the creation of the Power Child DAO is not legally possible, the 8M will be managed by our own DAO, as explained above.

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Hi Power Community, our second vote for the remaining part of the funding through vesting is currently ongoing and since it was suggested to go with milestones, we defined the following ones:

BAI MAIN MILESTONES

August and September

Working on Milestone #1:

  • Refactor MVP to start production development
  • Incorporation, registration, travel to Hong Kong, Open bank account with initial deposit etc.
  • Add support for an open source Large Language Model

October and November

Working Milestone #2:

  • Youtube summarizer
  • Ai discussion
  • Brainstorming
  • Image generation, using DALL-E

End of November

  • Public Token Sale
  • Send all BAI tokens + bonus to the DAO
  • Start Child DAO with 4M BAI

December/ onward

Working on Milestone #3:

  • Implementing the first community driven idea: Asynchronous callbacks
  • multichain addition: Polygon, Fantom, Waves EVM (when available) etc.

Therefore, if we dont meet any milestones, the DAO members are free to vote for stoping the vesting at any time. We will share progess regularly as well.

If you want support the full project, please vote on our ongoing request.

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Hi everyone, here is our last update for the past 3 months:
https://medium.com/@christophe_46920/project-updates-for-bai-september-cb219c075665

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