Oraichain 2021 Roadmap Update
With the mainnet as its foundation and several fundamental services and use cases deployed, the first half of 2021 has marked many important achievements for Oraichain. The second half will be equally, if not more, exciting for Oraichain as its AI Ecosystem is nearing completion and ready for a grand transformation into Oraichain 2.0.
Let us take this opportunity to recap our achievements and share our upcoming developments regarding our goals and roadmap.
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Q1 & Q2 Achievements
1. Mainnet Launch
The Oraichain project and its unique innovations for blockchain and AI ecosystems were introduced in September 2020. The Oraichain team built and delivered Oraichain Mainnet, launching in February 2021 to form the foundation of an ecosystem for machine learning enhanced DApps and opening the door for a myriad of new blockchain use cases. With bridges already complete to Binance Smart Chain, Ethereum, and Cosmos, and readily entering Polkadot/Kusama through Astar network (a.k.a, Plasm), Oraichain is preparing to make its AI Oracle services available across many blockchains, bringing accessible machine learning tools to blockchain users everywhere. The Mainnet is also the home for a suite of solutions for data scientists and Dapp developers.
Oraichain Mainnet owes much of its success to the dedication of our node operators. Thanks in part to cooperation between operators, uptime across all nodes has remained impressively high throughout these first few months. We are happy to report that the Oraichain Mainnet is a completely stable and safe environment for developers to build.
2. Oraichain Studio and Cosmos JS Library
The Oraichain Foundation envisions a thriving world with blockchain intimately woven into everyday life, bringing powerful tools for many use cases directly to the people that need them. In order to bring change to the people, it is our work to enable developers by providing open access to a diverse and powerful toolkit. Our mission is to build a comprehensive ecosystem that supports developers in all aspects to build innovative products with Blockchain and AI technologies.
At the beginning of Q2, we launched Oraichain Studio to streamline the creation of AI-enhanced smart contracts. We introduced the OW20 and OW721 standards, enabling the creation of unique ecosystems on the Oraichain Mainnet. We have also shared an improved version of CosmosJS library, an open-source library that helps building cross-platform applications compatible with the Stargate upgrade, as well as easily interact with the Oraichain Mainnet and other Cosmos based blockchains. Looking forward, we remain committed to creating a seamless environment for data scientists, data workers and DApp developers to commune and build together.
3. yAI.Finance
We are updating yAI.Finance to be more intuitive, making it user-friendly and function-wise intelligent. The yAI.Finance Portfolio presents a simple overview of your assets with live price feed and visualization of the user’s holdings, while with the aiMetric feature, users can browse liquidity pools based on ROI and align their yield farming strategy with their risk appetite. Since its inception, yAI.Finance users have enjoyed substantial APYs with our LP and single-sided staking vaults. We added the auto-compound vault earlier this year, making it simple for users to leverage their rewards without incurring unnecessary gas costs. Our DeFi team has been diligently working to refine AI-based Yield Farming and Trading strategy models. We look forward to launching aiVaults utilizing these strategies, along with many other new and exciting features, in the very near future.
4. aiRight
The Oraichain team unveiled aiRight on 31 May 2021, the first complete ecosystem built on the Oraichain Mainnet, exemplifying the unique environment that enables smart contracts to generate output from AI-derived input. Users can access a number of AI models, customize their input, and mint AI-generated artwork as an NFT (OW721). The AI Oracle is constantly scanning across multiple blockchains, indexing NFTs to generate a reliable database by which originality can be measured. These oracle services are already being adopted and deployed by our partners at Fomo Lab and Drops; we are dedicated to bringing our NFT verification AI Oracles to as many projects as possible in the future, promoting a layer of security for non-fungible assets that the sector currently lacks.
In addition to our AI Oracle services, aiRight features an NFT Marketplace on the Oraichain Mainnet where users can buy/sell, and soon participate in an auction for artwork with ORAI native token. With a recent update, users are now able to bridge NFTs between Oraichain Mainnet and Binance Smart Chain, enabling them to participate in Gallery and Yield Farming activities.
On aiRight, we developed an NFT Tokenization Lauchpad for Artists. Gallery creators set a tokenomics of their collection, putting them in control of their gallery. Collectors can auction work into a gallery, receive gallery tokens that can be traded on the open market, in essence turning the curated collection of non-fungible assets into a fungible one. Users can acquire gallery tokens to purchase NFTs from the corresponding gallery. They can also provide liquidity to PancakeSwap and deposit their LP tokens to the Farming Vault on aiRight for rewards.
As we continue to grow the aiRight brand, we look forward to the many ways our services can aid artists and collectors, while providing a brand new marketing resource for businesses of all sizes. With the AIRI token launched, we are excited to see how the Oraichain community will populate and use our tokenizeable galleries.
5. AI Oracles
At the heart of everything we develop, Oraichain’s AI Oracle remains the core from which we expand, leading us to exciting new use cases and seemingly limitless possibilities for AI and Blockchain. We recently announced that we will be providing AI Oracle services for NFT Originality and Similarity check to a growing list of partners. We are also working to develop a reliable and trustworthy price feed for conventional crypto tokens and NFTs, opening the door for more readily accessible and safer NFT X DeFi integrations. This is only the beginning; over the coming months, we hope to vastly increase our presence as an oracle service provider while building the infrastructure for data scientists to create and publish AI APIs for their dynamic use cases.
We are actively developing an AI Oracle protocol between Oraichain and Substrate-based networks. It will help to bridge data and tokens to Polkadot blockchains. Later in June, we will introduce a price feed oracle from Oraichain to Polkadot blockchains and we’re aiming for many other oracle services as well.
Beyond Polkadot, we intend to expand our AI Oracle services to all widely available networks that include CosmosSDK-based, Ethereum, BSC, Substrate-based, and Polygon as well. We’re eagerly looking forward to Q3 to improve our technology further.
6. Listings and Partnerships
As our development has progressed, we have committed to making our token and technologies available to a wider audience. In addition to our previous listings on Uniswap, PancakeSwap, and KuCoin, we recently listed ORAI with Wault Finance, where you can provide liquidity to earn high APY WEX rewards. We have also listed our first tokenized gallery (samORAI token) for aiRight on PancakeSwap, also offering some very attractive yield farming opportunities.
We have forged many partnerships since we set out and we are proud to share our collaborative spirit with so many wonderful and ambitious projects. We are thankful to Shiden and Astar Network, RikkeiSoft, Ocean Protocol, Kardiachain, Vaiot, Fomo Lab, Drops, and Wault Finance for their engagement and look forward to sharing our development in future success.
Q3 2021 — tentative plan
1. AI-based Yield Farming Vaults
Oraichain’s DeFi team has spent the last few months experimenting with AI models to help investors minimize risk and maximize ROI for yield farming and trading, removing human error and granting single-point access to sophisticated machine learning strategies. The AI-based Yield Farming models are constantly monitoring price, scoring risk, and predicting ROI, moving liquidity to guarantee the best and safest returns while nearly eliminating cumbersome gas fees for the investor.
We are excited to announce that our first vault utilizing these models was recently launched on yAI.Finance, letting users deposit and earn USDT yields (est. 5.5%). This is the first in a long series of vaults enabling investors to make their money work harder for them with the aid of artificial intelligence. Soon we will expand our AI vault selection, offering models for investors with a diverse risk appetite.
2. OraiDEX
With the completion of our near real-time bridge for the ORAI native token to BSC and ETH and recent support to Cosmos-based Blockchains via IBC, we have taken our first major step towards the creation of OraiDEX, Oraichain’s cross-chain DEX. This cross-chain swap will make it possible to exchange assets across multiple blockchains without an intermediary party, allowing users to access all of the benefits that each blockchain can offer without relying on centralized exchanges or brokers. With substrate-based development well underway and through our partnership, we will add Polkadot and Kusama bridges in the near future, looking next to Polygon for expansion.
Beyond the benefit of manual trading, OraiDEX will greatly increase the effectiveness of our AI-based Yield Farming models, allowing users to find the best strategy across all blockchains to maximize ROI. Our AI Trading models will also benefit; we will be experimenting with automated cross-chain arbitrage, a powerful addition to a sophisticated trading tool.
3. Data Hub — towards Decentralized AI with Blockchain
Our most ambitious undertaking is on the way; architecture for our AI Data Hub is nearing completion and we are preparing for the first stage of releases. This set of tools will allow ML data scientists to easily label raw data with AI-facilitated tools, structure it into data lakes and warehouses, run test cases on-chain to verify the accuracy and functionality of the models, publish their work using our AI API infrastructure and, ultimately, build smart contract integrating AI Oracles from our AI Marketplace and host their completed DApp.
We will begin by launching our Online Labeling Crowdsourcing Platform. Successful implementation of this hub will effectively promote an increased flow of unstructured to structured data, freeing the bottleneck in data labeling and allowing data scientists to focus on building and advancing AI technologies. In order to achieve this, we will be using a mechanism to crowdsource annotation, promoting reliable data tags through consensus. Any individual connected to the internet will have access to this data work, contributing for rewards, creating a strong decentralized workforce to carry the AI sector to greatness.
Oraichain will stimulate the adoption of this AI Data Suite on two distinct fronts. First, we will focus on our B2B strategy, offering decentralized solutions for many existing AI companies, dramatically lowering the cost of structuring data, and presenting a marketplace encouraging businesses to share and monetize their data. Secondly, we will introduce our Super DApp platform for blockchain developers, streamlining UI/UX development and proffering no-code development tools to level the playing field.
4. Expanding AI Oracle Products
A necessary element of all oracle providers, Oraichain’s VRF will allow smart contract developers to integrate our tamper-proof RNG into smart contracts. This is an important element for developers building smart contracts that rely on an unpredictable outcome to execute. Similar to existing VRFs, our Oracle will generate a number randomly, publishing the result and how it was derived on-chain for verification before it is consumed into a contract.
As we continue to flourish, we will publish many new AI Oracle feeds, distinguishing our offerings from the competition by unlocking a variety of fresh use cases. Our aiRight oracles for NFT similarity and originality serve as excellent examples, displaying a fraction of the possibilities born from the fusion of AI and Blockchain. In combination with our coming NFT price feeds, the adoption of these advancements can stem the circulation of fraudulent NFTs and foster a safe environment to leverage non-fungible assets for lending.
We are also preparing a line of competitive AI-enhanced price feeds for deployment with DApps built on BSC, ETH, and Substrate-based networks. We already deployed our first module to report AI price feeds from Oraichain to Polkadot blockchains on June 25. We encourage all DApp developers to contact the Oraichain team if you are using our tools or services and need support with integration.
Specific AI Oracles for identification purposes will be actively developed in Q4. This is a major step for Oraichain and the entire blockchain ecosystem, with the potential to enable biometric markers as a qualification to execute a smart contract. Our success will have major implications for security and privacy while providing solutions for DeFi, Legal and even government.
And yes, we will try to make it easier to recover your wallet if you lose your private keys! Your identity is singular. This should be an enabling factor, not a hindrance. Oraichain is completely dedicated to promoting a safer blockchain ecosystem, where all interactions are honest and trustworthy.
5. NFT Marketplace on BSC
As we grow the aiRight ecosystem, we will continue to promote a strong cross chain environment for NFTs, making our unique services available to as many users as possible. With the bridge to BSC and our tokenized galleries already functional, we look forward to adding aiRight’s NFT Marketplace on BSC in Q3. This marketplace will use the AIRI token as its primary currency, allowing users to bid, swap and check the originality of their NFTs on the aiRight core.
6. ETH Bridge for NFTs
While non-fungibles are being minted and distributed more frequently among a variety of blockchains, the majority of NFTs still circulate on Ethereum. As we continue to forge partnerships with popular NFT marketplaces, we are committed to ensuring that assets can move easily across blockchains. This will make it easy for artists and collectors to take full advantage of our tokenized galleries and marketplaces on aiRight.
7. NFT Oracle Services
We are thrilled to have taken the first steps to implement our AI Oracle services for NFT verification with multiple partners. Coupled with our NFT price feeds, these oracles will provide an important base layer of security for reliable and trustful NFT DeFi and lending transactions. We will be expanding the scope of our NFT verification oracle, looking to work closely with museums, galleries, art dealers and artists to enrich our database of off-chain properties. This will prevent traditional artworks from becoming victims of IP infringement on-chain.
Our AI Oracle services embody the spirit of collaboration crucial to the success of emerging blockchain technologies. Many NFT marketplaces implement a centralized royalty mechanism, allowing creators to earn royalties on their platform alone. Oraichain is developing aiRight’s decentralized royalty mechanism, allowing NFT artists to earn royalties in perpetuity, regardless of where they are sold.
8. Oraichain Wallet Update
Our hard work and development have already produced excellent results; Oraichain has successfully integrated AI models into smart contracts through the world’s first AI Oracle and delivered multiple applications, ready to be used by the general public. Oraichain’s Mobile Wallet allows users to access the Oraichain Mainnet and all of its applications on the go. As we launch the AI Data Hub, we are committed to maintaining and increasing availability so that everyone can participate in our ecosystem. Mobile users will have direct access to the Labeling Hub, making the decentralized AI workforce a reality.
To further accelerate the adoption of our unique products, Oraichain has prioritized the creation of a fiat on-ramp for aiRight and our forthcoming mobile wallet. This will ensure wide accessibility to all of Oraichain’s DApps and remove the education gap in order to onboard a wave of new blockchain users. As we expand our offerings, we look to positively impact as many lives as possible. The fiat on-ramp is a crucial step in adoption, ensuring wide availability of Oraichain’s many services and making our tools more attractive to B2B customers.
Q4 2021 — tentative plan
1. Request for AI
Any business that needs a digital transformation solution can request for communities of data scientists via our Request Hub to specify their goal and set up parameters of their “Golden dataset”. The AI practitioners will design a solution, create structured data via our Data Hub, and then build a custom AI model to suit. We aim to greatly reduce the amount of time a business spends customizing and accessing AI solutions by providing decentralized and online tools for AI practitioners to contribute and earn their royalties.
2. AI Training Service
Our AI Training service aims to streamline machine learning model training by providing an interface for AI practitioners to build and optimize their models as well as to test their work before deploying their AI API. These test cases will strengthen the reliability of machine learning models and expose critical design flaws before going live.
3. AI Publisher Service
The Super Dapp platform will let DApp developers publish their applications easily. Once they finish the design of their smart contracts consuming custom AI models via Oraichain Studio, they use Publisher Service to launch their application as easily as ‘commit a code’. The ecosystem for cryptocurrency payment, marketplace, and functionality to bridge across blockchains is provided by Oraichain Mainnet as the DApp’s background infrastructure.
4. Royalty Protocol
Data annotators will have royalties from their labeling tasks. AI solution providers will have royalties from their models. Hardware stakers will have royalties for their contributed computing resources. Sellers will retain partial ownership of their assets. Many more and more royalties will be native protocol in decentralized finance and for the benefits of the contributors. Oraichain will make the first standardized protocol for royalty across blockchain systems.
5. Automated tools for Community
We will customize several AI solutions for our community and other crypto communities such as chatbot for interactive dialogue, news crawling and summarization, smart calendar and reminder, AMA question plagiarism checker, and more.
We hope these tools will benefit the community as well as investors in getting filtered and quick information.
Mainnet 2.0
Oraichain Mainnet is often upgraded during the development of new features, expanding infrastructure, and security enhancements. However, a grand transformation of Oraichain Mainnet will come once the AI ecosystem is complete and it becomes necessary to boost the performance of the Oraichain network to meet the demand of applications.
We will reveal the details of Mainnet 2.0 and its roadmap in due time. Stay tuned for information in Oraichain Official channels.
As you can see, we are working at top speed to bring a wide range of new functionalities to smart contracts across many blockchains. It’s hard to believe that we launched less than a year ago. We thank all of our investors and supporters for their interest in and appreciation of the fantastic advancements we are making at Oraichain. The future is closer than you think!
About Oraichain
Oraichain is the world’s first AI-powered oracle and ecosystem for blockchains. Oraichain data oracle platform aggregates and connects Artificial Intelligence APIs to smart contracts and regular applications. Founded by Dr. Chung Dao, Oraichain’s mission is to be the portal between AI and blockchain technologies, serving as a foundational layer for creating a new generation of smart contracts and Dapps leveraging AI.
Unlike the competitors, Oraichain presents a complete AI Oracle, ready for deployment for your consideration. Tested and verified, our services will enrich your ecosystem and bring confidence to transactions in your marketplace with the aid of machine learning. Heightened security and transparency, alongside verifiable originality certification, will open the door for prolific mainstream adoption, free of the burden and risk fraud imposes on both creator and consumer.
Beyond data oracles, Oraichain interconnects Artificial Intelligence and Blockchain technologies. With AI as the cornerstone, the Oraichain ecosystem contains an AI marketplace, a Data & Request Hub, Publisher Service, Training Service, and Dapp Hosting.
Oraichain network provides the infrastructure and consensus mechanisms for Blockchain and AI training. These interconnected ecosystems accelerate the development of Web3, DeFi, enterprise, and academia applications. yAI.finance is the first use case of Oraichain, a DeFi platform using unique AI-based features and strategies. Oraichain AI Marketplace offers AI products and APIs with the goal of becoming the one-stop shop for Artificial Intelligence services.
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