The creators receive interests in DAI through the Compound protocol. Creators of Alethea AI plan to include other stablecoins to their reward system.
Alethea AI focuses on creating content through the use of artificial intelligence. Those who can create memes and other entertainment content, through this technology, receive rewards from this platform. The specific form of such funds is the stablecoin DAI.
Through a blog post, Alethea AI announced last March 30th the launch of Meme Pools. In the message, the platform explains that it is a financing system for creators of what they call “synthetic media”. These creations include memes, videos, and even audios.
The gains for the creators come from a system whereby platform users put DAI funds into a pool. Combined user funds fall under the decentralized finance (DeFi) protocol Compound. The creators of memes finally receive the interest that these funds generate. These users have the power to leave whenever they wish, withdrawing all their funds in DAI from the protocol.
The note states that those users that have funds invested in any of the creative groups or pools will receive rewards in Alethea AI’s token, ALE, for their participation. The text explains that this token will allow creators to reward their sponsors with special content. Besides, the ownership of the token will grant voting privileges to decide on the next content to develop.
According to Alethea AI’s blog post, the PoolTogether protocol inspired the creation of the platform. The pool allows its users to put funds into a pot and receive the payment of the interest generated in a kind of lottery among the participants.
Pending Tasks of the Platform
Currently, users can connect MemePools with a wallet that allows them to interact with the Ethereum blockchain, such as MetaMask. The text also explains that the plans include other stablecoins or anchored currencies as a means of rewards. On the other hand, they are planning to add integration with the Uniswap protocol to facilitate the acquisition of DAI. With this, they seek to simplify users’ participation in the Alethea AI platform.
Another feature that they will include in the future is related to the ownership of the ALE token. These tokens will allow users to have the power to request work directly from the creators. The note adds that they will also be able to suggest new content for the entire platform community.
The reward systems are very varied between cryptocurrency projects or blockchains. Among recent cases, it is possible to mention Folding@Home, which rewards miners for putting their computing power at the service of scientific research. In this particular case, they are receiving the help of miners’ equipment to find a cure against the coronavirus and its disease the COVID-19.
To conclude, the use of artificial intelligence to create memes is just one of the many applications of this technology. The funding of creative groups allows both investors and creators to obtain financial profits, apart from providing special content that the community will enjoy.
By Alexander Salazar