{"id":"NLfm26bfJ8w","title":"NEAR Protocol Town Hall - May 2025","description":"NEAR is the Blockchain for AI\nWebsite: https://near.org/\nNEAR AI: https://near.ai/\nIntents: https://near.org/intents\nChain Abstraction: https://www.proximity.dev/\nSharding: https://nearone.org/\n\nFor the devs\nGitHub: https://github.com/near \nDev Docs: https://docs.near.org/\nDevhub: https://devhub.near.page/ @NEARDevHub\n\nConnect with socials\nTwitter:   / nearprotocol  \nBlog: https://near.org/blog/\nMedium:   / nearprotocol  \n#NEAR #nearprotocol #NEARAI","channel_name":"NEAR Protocol","published_at":"2025-05-08T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/NLfm26bfJ8w/hqdefault.jpg","transcript_text":"GM everyone. I'm Peter from Near Week, your source on what's next on NIA and welcome to the NIA town hall May edition. The world is in a moment of deep transition. The internet is changing. First it was pages, then apps, now it's agents. AI agents won't just write essays or generate images. They'll act, trade, make decision on our behalf and on their own. To make that work, we need more than just smarter models. We need infrastructure. We need railroads. Something to make opensource AI monetizable and help millions eventually trillions of agents coordinate. And that's what we are all about on protocol. NA is deep AI infra full stack onchain and AI native. So when we say NI is for AI, we mean it and we're building it. Let's get into it. First up, as usual, we got Nia's co-founder and the guy who's been thinking about AI longer than most, Ilia Pulisukin. I'm just going to add you to the stage, Ilia, and then it's all yours. Hello, sir. Let me know when let me know when to change the slide. All right. Thank you very much. Hope everyone's doing well. that May is out and it's uh great weather almost everywhere. So, let's dive in. Uh I just want to kind of go over um I gave this talk in Dubai last week and so I wanted to kind of give a quick uh review for so everybody understands how all this fe pieces fit together. Let's go to the next slide. So near is a blockchain for AI but what does it actually mean right why why are we doing this what is that for and so kind of high level right the transition that we seeing in the world right now is we're going from kind of aggregator based internet and computing where we usually go to some kind of middleman service that has done a lot of work to really kind of sift through everything that's happening on internet, you know, be that Google with web pages, Amazon with products, you know, door dashes, with restaurants and so they present us with already aggregated kind of solution and easy way to search and find what we need. But they in turn become effectively a gatekeeper for this internet. They, you know, aggregate data about what we use, where we go, what what we interact with. and they kind of like they are using you know they've been using AI for you know decades now to uh to effectively build better products but at the same time you know make more money for themselves right they're kind of it's important to understand that their focus is on making money for those companies now the transformation that's happening right now is everybody's getting their own effectively a right and right now we're still maybe using centralized versions. But you know, we see already obviously open source versions that you can run locally, there's ways now with some of the technologies we've been building to run kind of non-local but still fully userowned version of AI model for you. And that gives you a new way of participating and and using kind of computing and internet and interacting with the with everyone kind of be that other people are the services and so that's where blockchain for AI comes in. It's really this middleware to interconnect how AI agents assistants going to be talking to each other, paying each other, coming into different economic activity with each other. So let's go to the next slide. So specifically right this includes a whole set of protocols right it's not kind of a singular thing because uh you know similarly how Google is not a singular you know service. It's actually a lot of different services from indexing to search to you know the kind of infrastructure to run it all at scale and scale it. Uh this is really a system that allows to kind of facilitate this kind of economic transactions of different AI agents in a verifiable and trusted way. So what are the components? Well, the blockchain is obviously in the middle, right? It serves as a settlement layer. It is the infrastructure that allows payments, coordination, identity um at a global scale. Now, uh we all kind of know we're living in a multi-chain world. There's assets and v various different uh kind of integrations that exist across the whole web 3 ecosystem. And so it's important to interconnect the whole web 3 as well. And you know we've been building towards this chain abstraction interface where blockchain becomes themsel itself invisible similar how you know you don't think about kind of HTTP when you and Amazon's you know cloud when you actually go into a website. Now a more important component here that we've introduced uh kind of late last year is this idea of intents being the driver of digital commerce. Right? We're transitioning from uh um kind of just pure transaction right where I send you money to really more how real world works where you actually have a kind of interaction that is more complex that is you know guarded by the outcome you want to achieve not just by you know paying money and hopefully it all goes through. You need verifiable infrastructure and you need obviously a way to govern all this is where the house of state comes in. So it's a really set of protocols that working together to achieve this mission. So let's go to next slide. So it's it's really exciting that we actually have a truly scalable blockchain to power all this. Right? This is where near protocol started kind of developing was a focus on developing this to be really easy to use, easy to build on and kind of be transparently scalable so that you as user developer never need to worry about hikes and fees or kind of limited capacity of the network. We had a really exciting resharding going from six to eight shards that has transitioned within one block time. So we can actually now add capacity to the network on extremely fast scale fast time. Uh we have obviously reduction in finality and block time which brings us to kind of state-of-the-art finality in that three ecosystem and we have truly kind of scalable applications using sharded smart contracts coming in the second quarter where you really can build applications that have you know hundreds of millions of users or billions of users really can scale with the blockchain now not just try to fit all into one contract and all of this has been done by one one of companies in the ecosystem really kind of honestly delivering amazing outcomes consistently without any downtime. Next slide. So it uh kind of just you know zooming out right we've had a you know really good growth on users and transactions over the past few years where about 50 million daily act sorry monthly activives was about four million uh daily activives and kind of uh continue you know ramping up transactions on chain. Next slide. The other part of is the kind of this interconnectivity really making sure that as a user developer or an agent you can actually navigate and hold assets across all chains. This really kind of moves near not just into this new category right where we sit above all blockchains but it's important to understand that AI agents are really always sit above all chains right they don't naturally fit into you know a single blockchain and so this infrastructure is critical because all agents effectively need some middleware and either you need to implement it in every single agent or you can use this shared middleware that already integrated all those blockchains in an easy way navigate across all chains and all assets. So, uh obviously there's been uh nice upgrades of chain signatures including EDSA support recently to integrate the rest of the blockchains and omnia bridge connecting kind of not just writing but also reading from other chains. Next slide. So this allows to power a whole host of new applications, right? Applications that really making it invisible uh kind of what chains you're using and instead really focusing on the experience. So RIA just launched a bitcoin version where you can connect with a bitcoin wallet and uh you know trade or l b borrow again bitcoin in an easy way and you know it looks like a bitcoin application even though every single transaction and assets are all living on here. Uh Satoshi port is working on prime brokerage where you can you know put your bitcoin and then go and use applications across the whole web three right hyperlquid pumpf fund unis swap magic eden and all of the kind of marshalling you know borrowing using gas fees etc is handled underneath using chain signatures and intents is a lending protocol that supports as well multiple chains and you can borrow against it in a very transparent way and more markets is really allowing to tap in into all the liquidity and all of the kind of yield opportunities across all chains. Really kind of matchmaking that and again all of this really leveraging kind of near chain signatures and this idea of chain abstraction in in an easy way providing users new capabilities. Importantly all those capabilities then roll in into AI as well and AI agents as well. Next slide. And then on the other side on the user side right we have wallets now that also leveraging this capability to bring this experience to end user right you have hot wallet that has over 120 chains now supported where you don't even need to have gas fees of those destination chains you don't need to figure out what token they use can just directly connect to apps and use them and they have you know gas fuel to fund the transactions they have obviously swap exchange integrated they have ability to Marshall assets and then themselves bringing users to now other chains. Similarly, Sweat Economy is introducing that as well and Infinex has been using intens and chain signatures to really start bringing non-s smart contract chains to their users. So, it's really kind of like this is already transitioned from you know last year when I was talking about this was very much kind of a theory. Now this is in practice in users hands where users don't even may know that this specific application is on that specific chain but you just connect their wallet that supports all of the chains kind of in a very invisible way and you don't need to like oh the gas fee here is an X token and I only have Y token that problem should disappear as well. Next slide. So I mentioned intense is kind of this new way of doing binding digital commitments. I think this is a pretty fundamental transformation that's happens both in crypto and in AI world. In general, in AI world, most kind of traditional AI companies, I call it thinking in a single player mode where they effectively assume AI belongs to you and doing everything on your behalf and just kind of exist like that. They don't think about how will my AI work with your AI, how my AI will work with a pharmaceutical company, with a factory, with a farm and figure out how to, you know, achieve a mutually beneficial kind of outcome. And so this is where kind of intense and agent interaction transaction protocol they've introduced comes in to really allow to do this things. Now the simplest thing is obviously just swapping assets any token any chain adding fiat any any real world assets but you can then go and actually start adding things that don't have liquidity you know what if I want to get a you know house right normally I would need a real estate agent or you can have an AI agent that is actually doing their job finding the right opportunities you know discussing with you creating binding commitments on buying it figuring out mortgage etc right so you're starting transition from just pure kind of uh exchange of pure value to a more ongoing conversation process that has a binding commitment in it. So really important comp uh concept continues to be developed. Diffuse Labs is leading development here. And so if you go to the next slide, the benefit is we already have this running with other ecosystems as well and really kind of highlighting like Zcash for example, you know, using this unstoppable liquidity to really I think we're now have more volume on intents than they have on Binance because their user base really prefers liquidity with money. um bar chain as well and NOS kind of highlighted from their ecosystems the usage because it really kind of interconnects them with a lot of other ecosystems and then Stella recently through hot seen a massive growth in users as well. So kind of just showing you how this kind of not just opens up for users but also opens up ecosystems that before maybe have been having a limited access to onchain tooling and defi. Next slide. Now uh the next part is uh how do we actually have you know agents we can trust? How do we have AI that we can actually trust that it's doing the right job? And so this is where FA been doing amazing work on really delivering trust execution environments both for running traditional kind of computing with CPUs and doing uh running models on GPUs on uh Nvidia Hopin Blackwell systems where you actually have a full certification that not even the owner of hardware can influence what's done and can access the information that happens. inside. And so this is extremely important because this really enables a lot of those user own benefits, right? Confidentiality, verifiability, ability to trust that if I give my data to this agent, it's not going to leak it somewhere and ability to verify onchain that some action happened from an of onchain agent. Next slide. Uh one of the other pieces that's required is actually so-called proof of response. So this is ability to verify that the service that's doing the work actually is doing it and returning a response. So we have Martian engineering team that's been working on this and will be looped in with the T infrastructure and our near core to really provide this new level of verifiability on the network and stack. Next slide. And so all this together kind of will form what we call decentralized confidential machine learning cloud really ability to run kind of GPUs anywhere that can join this network. They get paid for providing their hardware while users can actually use them without you know with guarantees that all of their data stays confidential and all the computing is correct right because right now you can you know if you're using any kind of AI service you have no idea where the data goes you also don't know which model you're using even if they telling you you're using some specific model so here you will have all these guarantees this also opens up ability for model developers to hold their models here verifiably in such a way that nobody can steal their weights but everybody can use it and pay them for usage. Right? So it actually solves problems both for users and enterprises who don't want to leak their data and for model developers and agent developers who don't want to leak their code but want distribution. So it really creates this marketplace of models and agents on one side and use enterprise on another. And so if we go to the next slide, all of this gets packaged into near AAI where we have agent hub and model model hub where you can actually host your models, host host your agents using this infrastructure under the hood to really enable kind of verifiable agents and verifiable and private interactions over time. Next slide. Build by and then proximity kind of uh leveraging all of the stack to show you how onchain agents work. Right. So this is the idea of so-called shade agents. You can effectively consider them onchain agents where the agent logic lives inside trusted execution environment inside TE for example in file cloud. uh the verification kind of whatever starts triggering there and then it calls the smart contract which verifies that it came from the kind of this verifiable secure enclave and based on that can go and act both on near and on all of the chains right so you have kind of all those pieces coming together and so if you have missed we had next slide a lion share agent launched by proximity that effectively show you how to use all of the stack together, right? We have Kao uh AI which has a share of voice of different assets that this agent would analyze and decide how to allocate uh to a different uh assets its portfolio and then it used intents to rebalance its its um uh portfolio to match this kind of share of waste. And so I think I saw on Twitter actually that it's been doing pretty well uh so far kind of growing its uh its portfolio you know kind of 2% uh week over week. So that's just kind of example of really putting all those pieces together, right? This is onchain agent that's using keys intents, chain signatures and blockchain to settle to really all kind of um like tie together this future of effectively autonomous agents that can be trading, interacting, providing services and delivering this to the end user. So think of it as um AI assistants living on the user side, kind of AI agents living on business side and autonomous agents kind of interacting with everyone and providing their own set of services and governed by kind of AI governance as well. So next slide to just conclude um near really has been building this purpose-built kind of ecosystem where we have you know convergence of AI and crypto right and it's important that to understand like this is all you know different teams building different components of this that really fit together kind of to form this kind of blockchain for AI ecosystem. So I'm really excited. Thanks. I mean obviously there's some people going to present after me working on a lot of the components but I'm really excited you know as we bringing a lot of more of the things to market and and kind of dating distribution on them. Thank you. Thank you so much for coming, Ilia. And um I highly recommend everyone to go listen to the latest A16C crypto podcast um where Ilia was a guest uh few weeks ago. If you want to know more about and get to understand the convergence of crypto and AI and where AI, the probably the most technology, probably the most powerful technology developed today, is headed and why uh crypto is the enabler, the railroads that will truly set us free. Next up, we got CTO from Near AI, Eric Wina. And I know he's been busy building. Eric is here to remind you all what Near AI is all about. I'm just going to add you to the stage, Eric. There we go. And adding your screen as well. One second. Stop sharing my screen. Folks, I move other media. I just have to remove my own. Remove. And there we go. Eric, it's all yours. All right, thanks. Uh, hey everybody. I'm Eric Winer from Nearai. Uh, here to give you a little update on what Near AI has been up to. Um, just as a reminder, you just heard a lot from Ilia about how um, Near is a blockchain for a AI very well suited to AI applications and there's a lot of AI projects being built on Near. Um, Near AI is a particular project. uh we are near aligned trying to build let users own their own assets own their own data not rely on central authority so we are the near aligned platform for building userowned AI um we are not the only way to use near and AI as you just saw uh we are one of many uh we are proud to be part of the the near ecosystem uh so please keep in mind all the amazing things happening on on the near blockchain uh using AI that aren't just us. Uh that said, a lot of great stuff happening on the near AI platform. Um we are about to hit uh our a thousandth agent. So if you are an AI agent developer, uh try to go hit agent a thousand. Um we'll give you some kudos in our telegram chat. Um getting more and more AI agent interactions and especially something I love to see more agentto agent interactions which is one of the special strengths of the neari platform. uh few uh things happening on the platform. If you've uh if you've used it in the past and want to come back just in the last most of this in the last couple weeks uh if not the last month or so um token streaming and logs improvements for AI agent developers. This is uh this is something that's a little more um more involved than just like talking to chat GPT and seeing its output because an AI agent can do a lot of sort of value added services on the thing that you're sending out. So um so having that stream having that sort of intermediate step stream back all the way to the user can be very helpful. Uh we now support multimodal agents file uploads interacting with agents on different levels. Um we have uh AITP which we announced a couple months back at this point. Um this is a uh a a protocol for agents to to pass structured data to other agents. Um so in addition to just speaking over you know text uh natural language interface we envision um AI agents sort of across trust boundaries just over you know HTTP protocols or websockets or what have you um being able to communicate using these structured messages as well. Now today you can use that for things like uh approving a near transaction or asking for a particular decision out of a list of options or filling in a standard form like a shipping address. Um and in the future we're building in more wallet support. We're building in a a very like an AI native payment protocol and a lot human loop addestations and another a lot of great features that help these uh these AI to AI interactions go smoother. Um the Neroa platform supports uh running agents that are built on top of link chain or coinbase agent kit. Uh basically a configuration only upload. Um very few code tweaks required. So um makes it one of the easiest ways to host uh an agent that's been written using one of these frameworks. And I'm very excited about this. uh coming very soon just in the final stages of review is uh a new TypeScript SDK uh contributed by the Jutsu team um that sort of gives a more you know we are we have a TypeScript SDK right now but it's kind of more of a part of the Python SDK this is more of a typo T type TypeScript native SDK uh so you can build AI agents in your most familiar language so tons happening on the neari platform um in addition we have sort of near and AI integrations working on outside of what you see on on the Near AI platform itself. Uh I'd like to call out again shade agents like Ilia called out. Amazing stuff there. Um a few that you may not have heard of yet. Uh Coinbase has recently released a uh no or low KYC uh fiat on-ramp. You can buy up to $100 of USDC on base. But if you integrate that into near intense now you can have uh easy onboarding low or no KYC on-ramp to any crypto. So um on the screenshot here is a example of doing that uh straight to USDC on near but of course with the power of near intense that could be to Bitcoin it could be anywhere. Um additionally uh Coinbase also released a spec for what they're calling the X42 payment protocol. um it's a little bit it's somewhat overlapping with what I just talked about with AITP but really a a little bit more minimal so we can still build on top of that. Uh similarly uh they built it to sort of work on base but um you know uh Robert and the team here has extended it to to be able to work with near intense. We've got a a polar quest open to the to the Coinbase team and we've been uh partnering with them on a lot of their uh AI agent work. I think it's been very exciting stuff. Um, to those of you looking uh watching on YouTube, I'm dropping links to this stuff in the comments. To those of you watching on Twitter, uh, check my Twitter uh, which I think is linked right there uh, for these links. Um, all right. Uh, that's what I had to show you. Thanks everybody. Thank you so much for coming, Eric. Keep cooking. Super excited to hear more about all the stuff that you're doing agent wise with Coinbase and in general just making it super easy to deploy autonomous real autonomous agents on NIA. So everyone stay tuned uh for stuff coming out from NIA AI. Next up, we got Lane Reic, who's running the governance or the latest governance um experiment that for now on Near Protocol called House of Stake. And he's here to give an update on everything that he's been working on lately. Lane, let me just bring you on stage. Which one is it? This one. Lane, are you there? Oh, sorry. There are like three of you. This is the one. There we go. There we go. And which one? That was a backup. Always good to have a backup. I like that. Especially when you're on Linux, things tend to go wrong. So, yeah. All right. Take it away. Just a quick time check. Do we have a target? Is it like 10 minutes or something? Yeah, five to 10 minutes. Okay, perfect. All right. All right. Hey, everybody. Um, I'm Lane. I do research at the foundation. Um, and my main project right now is House of Steak. Um, hope everyone is well. Uh, yeah. So, I'm excited to give everybody an update. Things are cooking. Things are moving very quickly in House of Steakland. Hopefully, that will become clear in the presentation. So, um, I never want to assume too much prior information or context. So, I'm going to very briefly introduce House of Stake and its goals. Um I'll give you a snapshot of the uh the road map and where we are right now, what's coming. Um I'll briefly introduce the working groups that have been established. Um I will give you a sneak peek so some alpha drop in here into what the house of stake front end is going to look like and then with any time we have left we'll talk about the really fun stuff which of course is the AI piece. Uh so what is house of stake? Basically it's the social governance layer for the entire near ecosystem. the protocol. Uh the goals here are to um correct some of the mistakes of the past to learn from what's working well in other ecosystems and to gradually move towards maximally decentralized communitydriven governance. Uh I like always to start with principles and values. You could see the list here. I'm you know want to be very clear. I'm responsible for like bootstrapping this project. But in no way, shape or form is House of Stake only my project, right? It is by definition a community project. So if anybody here has any thoughts, push back, concerns, you think things are missing or whatever, um please feel free to uh to DM me. My DMs are always open on X and a bunch of other places uh Telegram as well. Um but yep, we want to gradually embrace community-ledd governance. As I said, we want to keep things simple, right? I think this is partly learning from the mistakes of the past. We want as much transparency and accountability as is feasible at every stage of the project. Uh we want to reemphasize that governance should always be permissionless and of course building trust very very important including old-fashioned ways like facetoface meetings. Um the bottom line goal of the house of stake is actually to just uh build this solid foundation of community-led governance that can be used to build a thriving or I should say continue to build and expand a thriving ecosystem on top. Um obviously there's some overlap there with the goals of the near foundation and other folks and other players within the ecosystem and that's that's healthy. That's by design. Uh the vision here is that over time as it matures house of state will take on more responsibility. the scope will grow um and it will hopefully over time be able to take on at least some of the things that are being done by the foundation today. Um and then some intermediate goals. You've probably heard me speak about these before, right? We definitely uh want to improve the economics of the protocol and this discussion is beginning in earnest now about what that will look like. Um, having said that, even if we do do something like reducing inflation, we want to make sure that life is good for the validators and ideally even better than it is today under house of stake and that more validators decide to join and help us decentralize the protocol. Uh, of course we always want to maintain or ideally increase the security of the network through things like increasing the number of validators, the economic security and uh, I guess another goal here that we haven't talked about as much is and this gets into some of the AI stuff. Governance is hard. It's a huge burden. Anyone who's been active in Dows can tell you that. And so actually we want to lean heavily into AI to reduce some of that burden on the human actors in near governance. Uh this is probably the most interesting slide here and I'm realizing now the font is probably pretty small unless your monitor is sharper than mine. Uh of course happy to kind of share this later. Um I don't think we have time to go through everything that's going on. Uh I did my best to kind of divide into two timelines here. So the top is as you can see kind of the main area of focus right now which is getting the initial house of state product out of the door bootstrapping the governance. Um and then in parallel to that we have other things cooking which are related to kind of AI which we'll talk about later some of these AI initiatives as well as some more pure research. Um maybe I'll just speak to the second piece first because there's less things there. We're working on a research partnership with a major research university. I hope to be able to share details on that soon. Right. So we're actually very excited to um come up with some falsifiable hypotheses and work with some posttos and some faculty uh and and really just um explore these incredibly fascinating questions at the intersection of AI and governance and and the outcome here should be some real research papers and some conference presentations. I'm excited about that. Um and then flipping back up to the kind of governance piece here. Um we have our delegates in place. You can see the dotted line is where we are today. The delegates have begun meeting, have set up uh a set of working groups, which I'll introduce in a moment. Um we should very shortly have some draft proposals ready. Uh I mentioned a couple times House of Stake is hiring for a couple of roles including a head of research role and I owe everybody a job description that should be in place shortly. Um and then we should see the product come together. So the first piece here, well, I guess it's very clear, Q2. So moving into Q3, uh we should have a an alpha version of the um House of Stick front end by the end of this quarter actually. And then we expect that to uh uh to actually go live with an official launch um and a final polish product sometime uh around the the middle of of Q3. Um I'm going to keep moving in the interest of time. Again, happy to share this slide. So I think it's worth pointing out that uh we have these 11 initial delegates. I'm really excited about the progress that they're making which is very very rapid. Um I personally and the foundation have had a pretty light touch here. I mean, of course, I'm, you know, here as a resource and and trying to be helpful where I can and answer questions as they arise, but on their own, the delegates have really stepped up and have already established these four working groups. Uh, again, I'm not going to read through this list. You can read it on your own or I can I can share the deck afterwards. Um, but I think that these four working groups really speak to a lot of the value of House of Stake and some of the early areas where uh we think they're they're going to have an impact. Um, they self-organized into working groups. the working groups each have a lead. They've begun having calls. Um, and since this is kind of an ecosystem town hall, I'll mention that there's a lot of dialogue about how to open this up as much as possible to the community that's happening right now. In particular, in the third working group, which is the governance, infrastructure and processes working group. If that's a conversation you're interested in being a part of, feel free to reach out to me and I happy to connect you to uh to the folks who are working on that. Um so on product the backend smart contracts that powerhouse of stake were finished. Uh you can see there was a release here at the beginning of April. Uh so shout out to the faster team. Uh this is all open source, right? So if you go to FastNhouse contracts on GitHub, you can see the actual code. Um it's been audited as well. The audit is has wrapped up. Uh I believe the final items are being addressed this week. So our our friends at Halbourne uh did that work. So shout out to them as well. So that's really really good news. the the back end is is really critical and also again a shout out to fast near here. As you can see, no critical, no high, no medium issues whatsoever in the code. I think that that's really fantastic given how critical this this code is and how much uh near is going to be flowing through it. Uh the front end um this uh so if you've seen Agora before, I'm going to I'm going to go ahead and try to just do this on fast forward. As Matt said, we have a demo here. Video will be now updating on a daily weekly basis. So, as promised, this will be our our staging environment that will continuously be updating. So, you can see here we've got some early proposals being indexed and some folks happen here not already pretty simple right now. So, you can vote, but there are no I'll just kind of kill the audio. I'm not even sure if you guys could hear it, but um yeah, this is a super quick demo of what the House of State front end is going to look like. You saw it here first. Nobody anywhere has seen this before. Um so, again, real alpha dropping here. Uh, Agora has been has been a fantastic partner. We're really excited to be working with them. Um, and they have built uh, front end. So, this should look pretty familiar if you've seen, you know, the work on on projects like ENS and Uniswap um, that are using Avora. They really are they really are best-in-class and we're we're really really excited to to see this uh, taken to the next stage and go live. Um, so yeah, this is what the process of creating a proposal looks like. You can see there's some proposals in the system here. Um I believe yeah so this is kind of just like a simple dashboard. You can see the V near token is live here as well. Um you can stake your near into V near and then you can delegate it to one of the delegates. You can vote a proposal. So that's the kind of set of functionality that we're targeting here for the initial product release. Um so yeah again shout out to Agora for for really fantastic work on uh on getting the front end uh running. Um uh and then just super super briefly, I know we're we're kind of up against time here, but um you know the the direction we're going here is uh is is AI everything, right? This is near. We are uh excited to lean very heavily into AI in House of Stake as we are in other areas. Obviously, you just heard from um uh from Eric and from Ilia about how things are going on the near AI side. Uh we we are excited in House of Stake to be relying on on near AI infrastructure as well. Um, this piece I've spoken to I think even here on the town hall before a few months ago, right? So, uh, we're kind of breaking the AI work into three phases. So, the assistant, which is a simple chat tool, and we expect to be able to deliver that pretty soon. Uh, the AI delegate, a lot to say about this work has begun. We have a couple of um, ecosystem partners, people who are working on this in other ecosystems, including uh, Ethereum and Gitcoin. Um, the most recent Gitcoin grants round actually did include a few AI agents that were helping with public goods funding, which is one of the first things we expect to be able to use uh AI agents for in House of Stake. And then Ilia's grand vision of the AI CEO. Um, you'll hear more about that later this year. Um, and then yeah, so I spoke a moment ago about how we're working on a major research lab partnership and just want to emphasize again that uh we are serious about research, right? we're we're talking not just about blog posts and um you know forum posts and things like that. We are actually working towards um towards some real public goods research here. So so really working at the at the cutting edge the forefront of um of of knowledge globally and in in things like the intersection of AI and governance uh working with the best people in the world on that. Um in addition to just papers and conference talks, we're also uh thinking of train training actually a model specifically on um on governance and we have uh some folks who are excited to work on that with us. And um I just kind of picked the top of the heap here three of the questions that are on my mind. Um I'm trying to come up with an initial list list of these research topics and and again turning them into like proper falsifiable hypotheses, you know, that a real academic research or a postto can sink their teeth into for as long as a year. Um, and so again, anyone here who uh has thoughts along these lines, I'd be very excited to hear them. Now would be a great time to have that conversation. That is it from me. Thank you for listening. My DMs are always open. Thank you so much for coming, Lane, and telling us much more. As you can hear, folks, a lot of stuff is going on around governance on NIA, and we're really trying to take it to the next level. So go um check it check out what's being built. Um be supportive, be constructive, and let's move the near ecosystem one way, which is forward. All right, next up we got Andy from FX Finance. Hello, Andy. How's it going? Hello. Hello. Can you guys hear me? Yeah, we hear you loud and clear. I'm just going to add your presentation to the stage. It's all yours, Andy. For sure. Amazing. Yeah, thank you guys for having me. Um, the last presentation was really great. Um, I I do want to keep it pretty simple due to the timeline uh the time strain that we have here. So, um, I'm from FRA. My name is Andy. Um, and you guys probably might have heard us as uh, we just did a hard fork from FRA to FRAUSD. And you guys may know us kind of as the team that works with Near Protocol to further you know realize a multi-chain vision through programmable currency and userowned artificial intelligence. So in in many ways uh we're trying to you know power a lot of the things within the near ecosystem with our stable coins. Um I think we've worked with uh I think it's RI finance I think they were called uh ref finance before. Um so to kind of power the DeFi side of um you know Near ecosystem that's another angle that we were working on but today I wanted to talk kind of about uh what FRAUSD is and what SFRAUSD is as those assets are also live on year. Um so our mission basically uh being like the first is basically being the first legal tender stable coin to get chartered after US legislation. Um so mainly our vision is to kind of convert old digital money into a new legal tender digital dollar that can be used onchain you know earned yield um used by AI and etc to upgrade the global financial system. So you can you know think of us as some uh like a project that is very heavily aligned with um near's um alignment in terms of vision as well and with our roadmap that we announced earlier last month or two months ago AI was actually a very huge part of it and we're very you know near has been so supportive and we're very happy to you know work with near all the time um and moving forward um just wanted to get dive deeper into how FRAUSD is now different as a payment payment stable coin. So now we're the most you know one of the most secure stable and scalable digital dollars as you can see here. um we basically earn T bills from underlying FRAUSD and you know for selected partners and strategic partners we give up to 100% of the T build yield back uh and why is FRAUSD um so important and why do we see it as you know one of the top stable coins and payable stable coins in the future it it is it is actually a completely new flagship stable coin that is completely backed by treasury bills by institutional partners so we launched this with uh black rockck superstate and securitize um as our main T-build yield backers. So users can actually mint and redeem FRAUSD by holding T bills and you know Black Rockck presents us as that of a of Bidd token. Um so how we work with you know different protocols and why we see that you know this is a good competitive edge for in the stable coin industry is that we try to make it a very uh you know grow the pie strategy where we you know offer institutional partners or strategic partners um the T bill yield back where they can use that um the way they want to whether it be powering their DeFi side of things and the the FRAUSD the token itself is actually not a rebasing or an RWATO token um it is a fully payment stable coin and it's going to get regulated legally in the US tender um and by that law we are actually able to give the token itself yield back because it's supposed to be a payment stable coin um and to as you can see here you know uh institutional grade security and backing um as mentioned you know black rock superstate wisdom and way more partners coming that we have um moving forward to announce um and you know when when we started when we did this pivot uh to go into payment stable coin, we wanted to think of ourselves as you know bringing back the original Libra vision back to life with FRA. Um so I'm not sure how familiar um for those of you guys are watching with Libra, but um we wanted to kind of replace all of not replace but basically become what the Libra vision is for FRAUSD. And that's why we aim to and have actually um all of these partners on board with us to move forward um with our vision. Um and that's pretty much it about FRAUSD and you guys will see a lot more of us in the near ecosystem um with our payment stable coin to kind of um power the AI and DeFi side of the ecosystem at NER. Um and yeah, that kind of concludes a huge short brief of our uh what FRA is and what FRAUSD is. Thank you. Thank you so much for coming Andy and um telling us a little bit more what you guys been up to at FRA sounds super interesting and I cannot wait to see how we're going to take DeFi on near and autonomous money autonomous programmable money to the next level. All right, next up we got Eric from Intelix. Um, who recently raised their first round and I'm really excited to hear more about what they're building. Hello, Eric. How are you doing? Hello. I'm doing great. I'm doing great. All right. I added your slides. Please take it away, sir. Sure. um very excited to be part of the near ecosystem and uh as Ilia said a few moments ago the real challenge is going to be how does AI work together and that's something that we're trying to do at Intellects which is deploying uh technology and infrastructure to support crosschain agent interoperability and collaboration management and you could say that what we're what we're doing is is we're in the trenches we're working with enterprises and and what we've seen in the enterprise work that we've done is really three interesting things. The first is that enterprises are expecting their agent multi- aent systems to solve complex problems, not merely just automate uh certain business operations. And when that happens, what they're also expecting is that those those multi- aent systems are open, meaning that there's not a a fixed number of agents that might be involved in solving a complex problem, but there there might be multiple agents and those agents are constantly changing. The agents um are are joining the the problem solving uh force or they're they're they're they're departing from it. and and agents are also expanding. In our work with some enterprise customers, we're seeing that uh you may start off with 20 agents to solve a complex problem, but by the end of the uh the particular implementation, you may have you may see 50 50 to 60% growth. So the the the the problem then is what happens in this open agent ecosystem and how do agents uh work together? How do agents share their providence, their reputation, their skill sets, their shared knowledge? And what we frequently find is that because agents operate probabilistically is that agents 35% of the time will come up with their own solutions to the problems that are not what we as the programmers of those agents are actually expecting. And so you see this highly probabilistic ecosystem as these agents work together to solve these complex problems. And so how do you use blockchain and specifically how do you use the near infrastructure to be able to enable agents to interoperate to be able to communicate together? And it's not only do they share the same large language model but frequently those agents will speak different languages and I'm not talking about French and German. What I'm talking about is the fact that have you ever ever had a agent that is managing inventory talk to an agent that is working on supply chain or working on marketing? They talk totally different languages and as a result of that how agents make decisions and how that multi- aent system governs itself becomes critically important. So this is where near and specifically near intense becomes critically important. We're working with near intents to begin to use near intents to handle reputation tracking. Where did this agent come from? What kind of reputation does it have? What expertise does it have? Do I really want it to be part of this multi- aent system? Um, do all the agents agree that a specific event just occurred? Did we in fact increase inventory or did we in fact complete this transaction on a contract um because it's probabilistic? We've seen situations with our with with our enterprise customers in which there might be three out of five agents disagreeing about whether a particular outcome was actually achieved. And finally, how do we federate memory with all these agents in this open system trying to collaborate together? How do they share memory? And Near Intense is an absolutely perfect infrastructure to be able to support the federation of memory, the ability to track reputation and the ability just to achieve consensus around specific events. Um, so what is the intellect's infrastructure? Well, we're we're using uh agent interoperability, especially crosschain using your intents to create a persistent memory for a very dynamic multi- aent system. We're also creating the ability to verify agent reputation and skill set and then achieving probabilistic consensus. Did did this agent system actually achieve the outcome that they actually expected? We're doing that using a set of protocol uh primitives which we call sentinels which are are modular blockchain services that allow us to use uh dis um directed graphs uh stigment coordination. a lot of things that come out of the multi-agent uh systems literature about how to be able to manage these these highly unmanageable agent systems that are actually deployed to solve complex problems within the enterprise. But you may be interested in how do we actually sell this to enterprises? Well, we don't talk about blockchain. In fact, we don't even talk about agents. In fact, we don't even talk about AI. What we do is we we talk about these multi- aent systems built on top of near as digital workers and we sell them exactly like you would sell a a human workforce. You can see on the left hand side a resume from one of our our digital workers and on the right hand side a series of screenshots from a digital worker management platform that we provide to our enterprise customers that allow them to see how are these agents working together um or how are these digital workers working together to solve problems? How are they communicating together? what are the reputations of the of the digital workers that are now part of this ecosystem? And um we're excited to to share that uh with not only with our customers but also with other members of the near ecosystem and and I'll give you a very concrete example. We're working with a very large food broker uh in the United States. Food brokers are an outsourced sales team. So you might have several hundred food manufacturers that can't afford to uh hire salespeople to call on restaurants or hospitals or schools. Um and the food broker actually has this sales this sales force. And uh so one food broker with 200 food manufacturers, we're actually deploying and managing close to 300 agents that allow the broker and the food manufacturers to coordinate things like where do we market? Who do we sell to? Um what kinds of discounts should we give and apply to uh to to the specific customer? Each of those agents are not controlled centrally but are totally decentrally managed because the agents are coming from multiple different places from the food manufacturers from outside vendors from the actual broker themselves. And so each has its own unique strategy, its own o own large language model, its own goals and it's actually its actual own um own language. And so the ability for these these agents to interoperate especially if those agents are onchain uh on on different chains using your intents becomes critically important to us. Um, so we are deploying digital worker teams for that food broker to handle things like ordering, logistics, pricing, and we're allowing third-party agents that might come from manufacturers and retailers to to come into this problem solving ecosystem and work together. All the while underneath payment transactions for agents, the transfer of data between agents, and the tracking of reputation in memory become critically important. and how how it is that business enterprises can feel comfortable that this open multi- aent system that is working to solve these logistics and ordering problems can actually do that successfully. One of the exciting things that we're doing um beginning next week on May 12th is uh providing to the near ecosystem what we call nearx time near times enterprise um opportunities to be exposed to the kinds of business use cases that our enterprise customers have and to invite um agent developers uh who are interested in real life agent frameworks uh or are interested in developing uh agents that can be part of these EOS uh these systems that we're deploying to participate in the development of those and uh those are going to be live uh AMAs. We're going to be talking about the actual use case, the agent uh requirements and needs that we have looking for partners to help us develop those uh and then talk technically about how those agents need to interoperate using the Intellect uh infrastructure. Um we're we're uh anticipating a TGE in the next three weeks and focused right now on con consumer packaged goods, logistics and retail media uh uh uh industries bringing to bear um these multi- aent systems, these digital workers that are able to handle logistics, inventory, sales and marketing efforts. And our goal right now is by the end of 2026 to have deployed uh these digital workers who are specialized in uh or specialists in food service operations, sales, marketing, uh inventory management. try to achieve a goal of 85% uh uh of those uh food manufacturers and food brokers would be on the Intellects infrastructure which of course means that they're going to be on on Near using Near intents for all of the reputation management, memory management, intelligence sharing etc. Um, and we're also excited that we just have completed uh a vesting contract uh for near builders with in in partnership with Rio Finance that we're making available in open source to uh allow other projects to accelerate their uh their ability to leverage near not only the infrastructure but the ability to finance uh finance their projects and and participate in this exciting vision that Ilia has laid out. So, thank you very much. Thank you so much for coming and telling us more about Intellect, Eric. U really interesting to hear all the stuff you guys got going. And as Eric mentioned, if you are a company or project building on near and you'd like to be uh part of any of the be part of like this showcase series, do not hesitate to reach out to Eric um or us as we would be very happy to help you facilitate run this series and put a spotlight on how enterprises can adopt a decentralized technology powered by near protocol. Lastly, we got Felix from X-Trace AI. And Felix, you're here today to tell us much more about secure AI agent knowledge and memory for collective intelligence if I'm correct. Yes. Yes. I'm just going to add you your presentation to the stage. One second. There you go. Take it away, sir. Sorry. I remember my Hey everyone, really excited to be here and thank you for inviting me on the event. So we are X-rays. We are the private context and long-term memory layer for AI agents. So what we do is that we create an encrypted vector database that using our proprietary search algorithm can do semantic search on cipher text which means now that the AI agent can send out encrypted query to fetch data that is encrypted as well. So we align with the nearest vision about like there will be trillions of personal agents for business and consumers and the in the future the large range model really become the commodity and what really matters is how we coordinate the proprietary data it have access to the to it have access to and how it communicates with other agents. So the ship will become from public knowledge only to personal and proprietary data and then from local only memory to shared encrypted context. So different agents can share their own memory and maintain a persistent stateful conversation between each other and by unlocking all this we can lead to the future from isolated tools to intelligent collaborators between different agents. However to realize this f future we need to uh build out this new technical building blocks. The first one is this private knowledge store and retrieval. So now that AI agent can securely maintain state and have a state of their own memory. the knowledge in the context all together as a unified memory layer and allow agents to store it and retrieve it and while making sure that no one except the agent owner have access to it or the one they want to share with and then we can connect all of this and create this unified long-term memory layer so that whenever you're working with the agent they can you can use x-rays as a memory layer and then you can use that memory layer to share with other AI agents and this become portable and sharable so you have this memory mode and data when you're working with the agents and by combining this we can make sure that the agents collaboration are secure and stateful so that AI agents when they're collaborating they can always refer to past episodic memory and making sure that they'll autonomously improve and scale. So we have delivered this missing privacy layer for the future. We created encrypted vector database and memory that supports semantic search over cypher text so that all the data that is being uh searched can be sent using like an encrypted query. And then the main breakthrough we had is like we we use homorphic encryption but change the overhead 700 times faster. So originally like a processing of a data chunk can take you 30 seconds and we accelerate to 0.092 millisecond. So this almost make it to near zero uh search and then make it really fast and private data sharing possible. So by combining all of this we believe that there's a lot of new building blocks that can create this collaborative ecosystem on the multiplayers game that they can support that acts like a Dropbox for AI agents and making sure that even the Dropbox data server can never see the data that's shared and uh transfer between each other AI agents. So this is the architecture of X-rays which is live right now. So any agents or any enterprise can use our SDK to encrypt the data and it'll be sent out to our managed service. Now say like any agent running a TE they can send out encrypted query to fetch encrypted results. So this this this is a really great technical breakthrough because previously without our solution the agent living a TE to uh search for external data like to conduct something like a perplexity search they have to load the whole internet database inside the TE decrypted and do all the rack pipeline but instead using our solution they can now simply send out encrypted query and we'll handle the data that is being identified that the agent needs and then send back the encrypted result so the agent can decrypt like the five out of the 10 million data and then use it for uh inference time scaling and then we're also making the compute that happens in the TE stateful so that now the AI agents can have their own encrypted memory and then uh expand and then collaborate based on top of that. So for any developers that are building external agents that are for other enterprise, the enterprise usually doesn't want to share their proprietary data with the external developer. But using X-ray solution, this uh paradigm can definitely be solved. They just the enterprise can now use our SDK to encrypt all their vector data. And then now the agency develop is still built on top of this vector database. And I'll invite my CTO to do like a really quick demo of our live solution right now. Uh, Peter, do you mind pinging Lewan on the chat? So, Lewan is here now. Just got to find his screen. One second. Do we have Lewin in the house? Yeah. Sorry. All right, Lewan. Um, feel free here's your screen and take it away. Okay, cool. So, hi everyone. I'm Lewan. Uh, I'm here to demo how XR SDK and the developer dash dashboard works. So in order to use actra SDK first you need to log in uh to the developer portal of actra and then you can uh create knowledge bases or uh achieve API keys and manage the permissions of the API keys to uh knowledge bases. Right? Once you have uh retrieved a a API key then you can use that API key uh to work uh with X-rays SDK. And now let me show you an example of how a you know typical user would use X-ray SDK to load uh data privately onto X-rays manage service and retrieve uh relevant context data for his a uh for the AI agent. uh with uh a encrypted query. So now uh you can see in order to use the SDK you would need all these infos from the developer portal. And once you have these infos you can basically uh you know create a data loader which is a act implemented uh data loader that can encry embed encrypt your data locally and then send the cypers to act manage service. So now let me run this. It's going to take a while. But also uh I want to emphasize that in addition to the semantic search which Felix has talked about in extensively we also support like metadata search as you can see here I defined a list of metadata for each chunk. And uh yeah and then here's some dummy metadata I I I make just for demo purpose. So yeah, now the data has been successfully loaded to X-ray server and I also see I I'll show you a log so that you can tell all the data are encrypted as you can see here. So these are the data chunks and these are the indexes. They're all ciphers, right? So now yeah, now let me show you how to retrieve data. It's also very simple. So it works exactly like how you would use a regular vector database like pine cone. So you just you know define a retriever and then retrieve the relevant data. Oh, by the way, the data is about a recent news post about Microsoft Microsoft cooperating with Elon Musk. And now my query is like why Elon Musk is partnering with Microsoft. And then here are the relevant data chunks that is being returned. Right? Also I need to show you the logs so that you know the query is also encrypted. Right? So yeah, here's the query. You can as you can see it's also encrypted. Now finally once you have the you know relevant context data you can just feed it into whatever AI agent you are running locally or in your TE. So right now yeah so this is basically I me feeding the context data into a deepseek model and as you can see he's correctly answering the question like why you know Musk is partnering partnering with Microsoft which he shouldn't be able to answer without uh you know a external knowledge base like X-ray I think that's it thank Thank you so much for coming uh Leewin and Felix and telling us more about um Xrays. Really great stuff that you guys uh been building out lately and I highly recommend giving them a follow if you're interested in the space. So lastly, I'm just going to walk you through some of the most um bullish news happening in the near ecosystem of the past month. If you don't know and if you haven't already signed up, I highly encourage you to do so. NAS protocols uh Kaito leaderboard is live and there are monthly rewards for the top yappers. If you haven't already signed up, go do it now. start yapping about Nia and start trending and uh moving up the ranks. Next one up, NIA has lately upgraded the chain signatures tech. So now you're able to move as it's freely between Solana, Ton, Sui, Aptus and of course entirely enabled by NIA and controlled by a single NIA account. Cointelegraph announced recently that there's a Bitwise ETF being filed for uh in Delaware. Not sure what to do about that information. Next up, we have Krenx, who just released the Krenx node uh 2.5. And Kren is a distributed orchestration layer on edge devices, which means you can leverage the power of your own computer to provide AI services and get rewarded for it. Unlike traditional AI relying on massive cloud infrastructure, Krenx runs entirely on the collective power of community-owned devices. So your contribution directly fuels the network. And Krenex uses a trustless protocol to manage AI tasks without the need for traditional validators. Instead, it in incentivizes node operators like you with proof of meaningful work. I really encourage you to check it out and read more about uh what Krenics is all about doing. It's super cool. It's been mentioned a few times. The mind share agent uh was launched prior uh this month and you know basically the idea is if if your tra what if your trading strategy was not driven by charts but by conversation. So the minder index tracks what the crypto community is actually talking about on social media and then it makes trades based on that all autonomously and all on chain. And it's been built with shade agents. And these AI powered bots live in trusted execution environments for secure offchain computation. So every action is verified on chain by a smart contract ensuring full transparency and zero trust assumptions. So it's not just a bot. It's actually a new trading primit primitive. Pretty cool. Check it out. If you didn't notice, there was a recent interview with Ilia on the AIC crypto pod. and where I he describes how NIA's architecture addresses the scalability, privacy and interoperability and coordination needs of an agentic internet where AI agents autonomously execute complex tasks on behalf of human users. Each core component of Neo's techst is an enabler of this vision forming a cohesive and powerful platform for AI innovation, ownership and AI agents. So if you haven't already listened to the interview, I highly recommend it. It will provide you with a clear understanding where AI, the most powerful technology developed to this day, is heading and why crypto, specifically near also, is the rails enabling a truly autonomous future that acts in your best interest. If you have the time, when you're done watching this, head over to the Coinbased Machine Learning and Blockchain Research Summit 2025, where Ilia will share his road map to a user-owned AI model and unpack why developers, founders, businesses, and users alike will benefit from a future powered by blockchain and AI. He is presenting among other prominent people in the space, and it's a great opportunity to get to know much more about what Near is all about. Lastly, I want to give a huge shout out to Cameron and the AI team. If you haven't already tuned in to the weekly shift stream with Cameron, give it a watch. This is where the alpha is. Last week, we hit episode 10. So, huge shout out to Cameron for highlighting all the good AI stuff being shipped on NIA week after week. And of course, a huge shout out to all the projects building on NIA. Keep pushing it. Thanks for watching everyone. The future is near and is not waiting. What you saw wasn't theory. It was execution. NIA is not pitching ideas. It's shipping infrastructure for AI, for agents, for the next era of the internet. In a world where intelligence is abundant, coordination is the new alpha. And near is where coordination scales. This community is grinding, building, and showing the world what's possible. You're early, but more importantly, you're very essential. Shout out to every dev, founder, and community contributor pushing the vision forward. NIA isn't just a protocol. It's a movement for a userowned internet. As always, none of what was just presented is financial advice. Do your own research and use your own judgment. But if you're paying attention, you know where the signal is. Subscribe to Neoe to stay in the loop. And if you're building something amazing, this stage is yours. Do not hesitate to hit us up. See you next month. Keep building. Stay AI and remember the future coordinates on near. See you next month everyone. Bye. Thanks for watching. Truly open AI is near. Follow near protocol. Subscribe to Near Week.","transcript_synced_at":"2026-11-03T04:57:40.949Z","segments":[{"start_seconds":13,"text":"GM everyone. I'm Peter from Near Week, your source on what's next on NIA and welcome to the NIA town hall May edition. The world is in a moment of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=13s"},{"start_seconds":22,"text":"deep transition. The internet is changing. First it was pages, then apps, now it's agents. AI agents won't just","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=22s"},{"start_seconds":30,"text":"write essays or generate images. They'll act, trade, make decision on our behalf and on their own. To make that work, we","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=30s"},{"start_seconds":38,"text":"need more than just smarter models. We need infrastructure. We need railroads.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=38s"},{"start_seconds":42,"text":"Something to make opensource AI monetizable and help millions eventually trillions of agents coordinate. And that's what we are all about on","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=42s"},{"start_seconds":51,"text":"protocol. NA is deep AI infra full stack onchain and AI native. So when we say NI is for AI, we mean it and we're building","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=51s"},{"start_seconds":60,"text":"it. Let's get into it. First up, as usual, we got Nia's co-founder and the guy who's been thinking about AI longer","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=60s"},{"start_seconds":67,"text":"than most, Ilia Pulisukin. I'm just going to add you to the stage, Ilia, and then it's all yours. Hello,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=67s"},{"start_seconds":76,"text":"sir. Let me know when let me know when to change the slide.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=76s"},{"start_seconds":81,"text":"All right. Thank you very much. Hope everyone's doing well. that May is out and it's uh great weather almost everywhere.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=81s"},{"start_seconds":91,"text":"So, let's dive in. Uh I just want to kind of go over um I gave this talk in","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=91s"},{"start_seconds":99,"text":"Dubai last week and so I wanted to kind of give a quick uh review for so everybody understands how all this fe","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=99s"},{"start_seconds":107,"text":"pieces fit together. Let's go to the next slide.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=107s"},{"start_seconds":111,"text":"So near is a blockchain for AI but what does it actually mean right why why are we doing this what is that for and so","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=111s"},{"start_seconds":119,"text":"kind of high level right the transition that we seeing in the world right now is we're going from kind of aggregator","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=119s"},{"start_seconds":129,"text":"based internet and computing where we usually go to some kind of middleman service that has done a lot of work to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=129s"},{"start_seconds":138,"text":"really kind of sift through everything that's happening on internet, you know, be that Google with web pages, Amazon with products, you know, door dashes,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=138s"},{"start_seconds":146,"text":"with restaurants and so they present us with already aggregated kind of solution and easy way to search and find what we","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=146s"},{"start_seconds":154,"text":"need. But they in turn become effectively a gatekeeper for this internet. They, you know, aggregate data about what we use, where we go, what","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=154s"},{"start_seconds":162,"text":"what we interact with. and they kind of like they are using you know they've been using AI for you know decades now","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=162s"},{"start_seconds":171,"text":"to uh to effectively build better products but at the same time you know make more money for themselves right they're kind of it's important to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=171s"},{"start_seconds":179,"text":"understand that their focus is on making money for those companies now the transformation that's happening right now is everybody's","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=179s"},{"start_seconds":187,"text":"getting their own effectively a right and right now we're still maybe using centralized versions. But you know, we","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=187s"},{"start_seconds":194,"text":"see already obviously open source versions that you can run locally, there's ways now with some of the technologies we've been building to run","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=194s"},{"start_seconds":202,"text":"kind of non-local but still fully userowned version of AI model for you.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=202s"},{"start_seconds":208,"text":"And that gives you a new way of participating and and using kind of computing and internet and interacting","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=208s"},{"start_seconds":215,"text":"with the with everyone kind of be that other people are the services and so that's","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=215s"},{"start_seconds":223,"text":"where blockchain for AI comes in. It's really this middleware to interconnect how AI agents","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=223s"},{"start_seconds":231,"text":"assistants going to be talking to each other, paying each other, coming into different economic activity with each","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=231s"},{"start_seconds":238,"text":"other. So let's go to the next slide. So specifically right this includes a whole set of protocols right","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=238s"},{"start_seconds":245,"text":"it's not kind of a singular thing because uh you know similarly how Google","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=245s"},{"start_seconds":252,"text":"is not a singular you know service. It's actually a lot of different services from indexing to search to you know the kind","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=252s"},{"start_seconds":261,"text":"of infrastructure to run it all at scale and scale it. Uh this is really a system that allows to kind of facilitate this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=261s"},{"start_seconds":270,"text":"kind of economic transactions of different AI agents in a verifiable and trusted way. So what are the components?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=270s"},{"start_seconds":277,"text":"Well, the blockchain is obviously in the middle, right? It serves as a settlement layer. It is the infrastructure that","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=277s"},{"start_seconds":284,"text":"allows payments, coordination, identity um at a global scale. Now, uh we all","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=284s"},{"start_seconds":292,"text":"kind of know we're living in a multi-chain world. There's assets and v various different uh kind of integrations that exist across the whole","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=292s"},{"start_seconds":301,"text":"web 3 ecosystem. And so it's important to interconnect the whole web 3 as well.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=301s"},{"start_seconds":307,"text":"And you know we've been building towards this chain abstraction interface where blockchain becomes themsel itself invisible similar how you know you don't","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=307s"},{"start_seconds":316,"text":"think about kind of HTTP when you and Amazon's you know cloud when you actually go into","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=316s"},{"start_seconds":324,"text":"a website. Now a more important component here that we've introduced uh kind of late last year is this idea of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=324s"},{"start_seconds":332,"text":"intents being the driver of digital commerce. Right? We're transitioning from uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=332s"},{"start_seconds":339,"text":"um kind of just pure transaction right where I send you money to really more how real world works where you actually","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=339s"},{"start_seconds":346,"text":"have a kind of interaction that is more complex that is you know guarded by the outcome you want to achieve not just by","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=346s"},{"start_seconds":354,"text":"you know paying money and hopefully it all goes through. You need verifiable infrastructure and you need obviously a way to govern all this is where the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=354s"},{"start_seconds":362,"text":"house of state comes in. So it's a really set of protocols that working together to achieve this mission. So let's go to next slide. So it's it's","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=362s"},{"start_seconds":371,"text":"really exciting that we actually have a truly scalable blockchain to power all this. Right? This is where near protocol started kind of developing was a focus","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=371s"},{"start_seconds":380,"text":"on developing this to be really easy to use, easy to build on and kind of be transparently scalable so that you as","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=380s"},{"start_seconds":389,"text":"user developer never need to worry about hikes and fees or kind of limited capacity of the network. We had a really","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=389s"},{"start_seconds":397,"text":"exciting resharding going from six to eight shards that has transitioned within one block time.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=397s"},{"start_seconds":406,"text":"So we can actually now add capacity to the network on extremely fast scale fast time. Uh we have obviously reduction in","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=406s"},{"start_seconds":413,"text":"finality and block time which brings us to kind of state-of-the-art finality in that three ecosystem and we have truly","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=413s"},{"start_seconds":422,"text":"kind of scalable applications using sharded smart contracts coming in the second quarter where you really can build applications","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=422s"},{"start_seconds":430,"text":"that have you know hundreds of millions of users or billions of users really can scale with the blockchain now not just try to fit all into one","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=430s"},{"start_seconds":438,"text":"contract and all of this has been done by one one of companies in the ecosystem really kind of honestly delivering","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=438s"},{"start_seconds":446,"text":"amazing outcomes consistently without any downtime. Next slide.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=446s"},{"start_seconds":452,"text":"So it uh kind of just you know zooming out right we've had a you know really good growth on users and transactions","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=452s"},{"start_seconds":459,"text":"over the past few years where about 50 million daily act sorry monthly activives was about","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=459s"},{"start_seconds":467,"text":"four million uh daily activives and kind of uh continue you know ramping up transactions on chain. Next slide.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=467s"},{"start_seconds":479,"text":"The other part of is the kind of this interconnectivity really making sure that as a user developer or an agent you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=479s"},{"start_seconds":488,"text":"can actually navigate and hold assets across all chains. This really kind of moves near not just into this new","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=488s"},{"start_seconds":496,"text":"category right where we sit above all blockchains but it's important to understand that AI agents are really always sit above all chains right they","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=496s"},{"start_seconds":505,"text":"don't naturally fit into you know a single blockchain and so this infrastructure is critical because all","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=505s"},{"start_seconds":513,"text":"agents effectively need some middleware and either you need to implement it in every single agent or you can use this shared middleware that already","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=513s"},{"start_seconds":521,"text":"integrated all those blockchains in an easy way navigate across all chains and all assets. So, uh obviously there's","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=521s"},{"start_seconds":529,"text":"been uh nice upgrades of chain signatures including EDSA support recently to integrate the rest of the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=529s"},{"start_seconds":537,"text":"blockchains and omnia bridge connecting kind of not just writing but also reading from other chains. Next slide.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=537s"},{"start_seconds":546,"text":"So this allows to power a whole host of new applications, right? Applications that really making it invisible","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=546s"},{"start_seconds":553,"text":"uh kind of what chains you're using and instead really focusing on the experience. So RIA just launched a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=553s"},{"start_seconds":560,"text":"bitcoin version where you can connect with a bitcoin wallet and uh you know","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=560s"},{"start_seconds":567,"text":"trade or l b borrow again bitcoin in an easy way and you know it looks like a bitcoin application even though every","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=567s"},{"start_seconds":575,"text":"single transaction and assets are all living on here. Uh Satoshi port is working on prime brokerage where you can","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=575s"},{"start_seconds":583,"text":"you know put your bitcoin and then go and use applications across the whole web three right hyperlquid pumpf fund","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=583s"},{"start_seconds":589,"text":"unis swap magic eden and all of the kind of marshalling you know borrowing using","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=589s"},{"start_seconds":596,"text":"gas fees etc is handled underneath using chain signatures and intents is a lending protocol that supports as well multiple chains and you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=596s"},{"start_seconds":605,"text":"can borrow against it in a very transparent way and more markets is really allowing to tap in into all the liquidity and all of the kind of yield","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=605s"},{"start_seconds":614,"text":"opportunities across all chains. Really kind of matchmaking that and again all of this really leveraging kind of near","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=614s"},{"start_seconds":622,"text":"chain signatures and this idea of chain abstraction in in an easy way providing users new capabilities. Importantly all","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=622s"},{"start_seconds":630,"text":"those capabilities then roll in into AI as well and AI agents as well. Next slide. And then on the other side on the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=630s"},{"start_seconds":638,"text":"user side right we have wallets now that also leveraging this capability to bring this experience to end user right you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=638s"},{"start_seconds":645,"text":"have hot wallet that has over 120 chains now supported where you don't even need to have gas fees of those destination","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=645s"},{"start_seconds":652,"text":"chains you don't need to figure out what token they use can just directly connect to apps and use them and they have you know gas fuel to fund the transactions","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=652s"},{"start_seconds":662,"text":"they have obviously swap exchange integrated they have ability to Marshall assets and then themselves bringing","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=662s"},{"start_seconds":670,"text":"users to now other chains. Similarly, Sweat Economy is introducing that as well and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=670s"},{"start_seconds":676,"text":"Infinex has been using intens and chain signatures to really start bringing non-s smart contract chains to their","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=676s"},{"start_seconds":684,"text":"users. So, it's really kind of like this is already transitioned from you know last year when I was talking about this was very much kind of a theory. Now this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=684s"},{"start_seconds":693,"text":"is in practice in users hands where users don't even may know that this specific application is on that specific","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=693s"},{"start_seconds":700,"text":"chain but you just connect their wallet that supports all of the chains kind of in a very invisible way and you don't need to like oh the gas fee here is an X","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=700s"},{"start_seconds":709,"text":"token and I only have Y token that problem should disappear as well. Next slide. So I mentioned intense is kind of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=709s"},{"start_seconds":717,"text":"this new way of doing binding digital commitments. I think this is a pretty fundamental transformation that's happens both in crypto and in AI world.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=717s"},{"start_seconds":726,"text":"In general, in AI world, most kind of traditional AI companies, I call it thinking in a single player mode where they effectively assume AI belongs to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=726s"},{"start_seconds":735,"text":"you and doing everything on your behalf and just kind of exist like that. They don't think about how will my AI work with your AI, how my AI will work with a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=735s"},{"start_seconds":743,"text":"pharmaceutical company, with a factory, with a farm and figure out how to, you know, achieve a mutually beneficial kind of outcome. And so this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=743s"},{"start_seconds":752,"text":"is where kind of intense and agent interaction transaction protocol they've introduced comes in to really allow to do this things. Now the simplest thing","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=752s"},{"start_seconds":761,"text":"is obviously just swapping assets any token any chain adding fiat any any real world assets but you can then go and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=761s"},{"start_seconds":769,"text":"actually start adding things that don't have liquidity you know what if I want to get a you know house right normally I would","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=769s"},{"start_seconds":777,"text":"need a real estate agent or you can have an AI agent that is actually doing their job finding the right opportunities you know discussing with you creating","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=777s"},{"start_seconds":785,"text":"binding commitments on buying it figuring out mortgage etc right so you're starting transition from just pure kind of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=785s"},{"start_seconds":793,"text":"uh exchange of pure value to a more ongoing conversation process that has a binding commitment in it. So really","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=793s"},{"start_seconds":802,"text":"important comp uh concept continues to be developed. Diffuse Labs is leading development here. And so if you go to the next slide, the benefit is we","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=802s"},{"start_seconds":811,"text":"already have this running with other ecosystems as well and really kind of highlighting","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=811s"},{"start_seconds":817,"text":"like Zcash for example, you know, using this unstoppable liquidity to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=817s"},{"start_seconds":824,"text":"really I think we're now have more volume on intents than they have on Binance because their user base really prefers liquidity with money.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=824s"},{"start_seconds":836,"text":"um bar chain as well and NOS kind of highlighted from their ecosystems the usage because it really kind of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=836s"},{"start_seconds":843,"text":"interconnects them with a lot of other ecosystems and then Stella recently through hot seen a massive growth in","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=843s"},{"start_seconds":850,"text":"users as well. So kind of just showing you how this kind of not just opens up for users but also opens up ecosystems","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=850s"},{"start_seconds":859,"text":"that before maybe have been having a limited access to onchain tooling and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=859s"},{"start_seconds":866,"text":"defi. Next slide. Now uh the next part is uh how do","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=866s"},{"start_seconds":877,"text":"we actually have you know agents we can trust? How do we have AI that we can actually trust that it's doing the right","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=877s"},{"start_seconds":884,"text":"job? And so this is where FA been doing amazing work on really delivering trust execution environments both for running traditional kind of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=884s"},{"start_seconds":893,"text":"computing with CPUs and doing uh running models on GPUs on uh Nvidia","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=893s"},{"start_seconds":901,"text":"Hopin Blackwell systems where you actually have a full certification that not even","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=901s"},{"start_seconds":908,"text":"the owner of hardware can influence what's done and can access the information that happens. inside. And so","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=908s"},{"start_seconds":916,"text":"this is extremely important because this really enables a lot of those user own benefits, right? Confidentiality, verifiability, ability to trust that if","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=916s"},{"start_seconds":925,"text":"I give my data to this agent, it's not going to leak it somewhere and ability to verify onchain that some action","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=925s"},{"start_seconds":932,"text":"happened from an of onchain agent. Next slide. Uh one of the other pieces that's","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=932s"},{"start_seconds":941,"text":"required is actually so-called proof of response. So this is ability to verify that the service that's doing the work actually is doing it and returning a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=941s"},{"start_seconds":948,"text":"response. So we have Martian engineering team that's been working on this and will be looped in with the T","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=948s"},{"start_seconds":956,"text":"infrastructure and our near core to really provide this new level of verifiability on the network and stack.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=956s"},{"start_seconds":962,"text":"Next slide. And so all this together kind of will form what we call decentralized","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=962s"},{"start_seconds":970,"text":"confidential machine learning cloud really ability to run kind of GPUs anywhere that can join this network.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=970s"},{"start_seconds":977,"text":"They get paid for providing their hardware while users can actually use them without you know with guarantees that","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=977s"},{"start_seconds":985,"text":"all of their data stays confidential and all the computing is correct right because right now you can you know if you're using any kind of AI service you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=985s"},{"start_seconds":993,"text":"have no idea where the data goes you also don't know which model you're using even if they telling you you're using some specific model so here you will","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=993s"},{"start_seconds":1000,"text":"have all these guarantees this also opens up ability for model developers to hold their models here verifiably in such a way that nobody can steal","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1000s"},{"start_seconds":1009,"text":"their weights but everybody can use it and pay them for usage. Right? So it actually solves problems both for users and enterprises who don't want to leak","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1009s"},{"start_seconds":1017,"text":"their data and for model developers and agent developers who don't want to leak their code but want distribution. So it really creates this marketplace of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1017s"},{"start_seconds":1025,"text":"models and agents on one side and use enterprise on another. And so if we go to the next slide, all of this gets packaged into near AAI where we have","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1025s"},{"start_seconds":1034,"text":"agent hub and model model hub where you can actually host your models, host host your agents using this infrastructure","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1034s"},{"start_seconds":1040,"text":"under the hood to really enable kind of verifiable agents and verifiable and private interactions over","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1040s"},{"start_seconds":1048,"text":"time. Next slide. Build by and then proximity kind of uh leveraging all of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1048s"},{"start_seconds":1055,"text":"the stack to show you how onchain agents work. Right. So this is the idea of so-called shade agents. You can","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1055s"},{"start_seconds":1063,"text":"effectively consider them onchain agents where the agent logic lives inside trusted execution environment inside TE","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1063s"},{"start_seconds":1071,"text":"for example in file cloud. uh the verification kind of whatever starts triggering there and then it calls the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1071s"},{"start_seconds":1078,"text":"smart contract which verifies that it came from the kind of this verifiable secure enclave and based on that can go","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1078s"},{"start_seconds":1086,"text":"and act both on near and on all of the chains right so you have kind of all those pieces coming together and so if","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1086s"},{"start_seconds":1094,"text":"you have missed we had next slide a lion share agent launched by proximity that effectively show you how to use all of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1094s"},{"start_seconds":1103,"text":"the stack together, right? We have Kao uh AI which has a share of voice of different assets that this agent would","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1103s"},{"start_seconds":1111,"text":"analyze and decide how to allocate uh to a different uh assets its portfolio and then it used intents to rebalance its","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1111s"},{"start_seconds":1121,"text":"its um uh portfolio to match this kind of share of waste.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1121s"},{"start_seconds":1128,"text":"And so I think I saw on Twitter actually that it's been doing pretty well uh so far kind of growing its uh its portfolio you know kind of 2% uh week over week.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1128s"},{"start_seconds":1139,"text":"So that's just kind of example of really putting all those pieces together, right? This is onchain agent that's using keys intents, chain signatures and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1139s"},{"start_seconds":1149,"text":"blockchain to settle to really all kind of um like tie together this future of effectively autonomous agents that can","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1149s"},{"start_seconds":1157,"text":"be trading, interacting, providing services and delivering this to the end user. So","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1157s"},{"start_seconds":1163,"text":"think of it as um AI assistants living on the user side, kind of AI agents living on business side and autonomous","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1163s"},{"start_seconds":1171,"text":"agents kind of interacting with everyone and providing their own set of services and governed by kind of AI governance as","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1171s"},{"start_seconds":1180,"text":"well. So next slide to just conclude um near really has been building this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1180s"},{"start_seconds":1187,"text":"purpose-built kind of ecosystem where we have you know convergence of AI and crypto right and it's important that to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1187s"},{"start_seconds":1194,"text":"understand like this is all you know different teams building different components of this that really fit together kind of to form this kind of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1194s"},{"start_seconds":1204,"text":"blockchain for AI ecosystem. So I'm really excited. Thanks. I mean obviously there's some people going to present after me working on a lot of the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1204s"},{"start_seconds":1212,"text":"components but I'm really excited you know as we bringing a lot of more of the things to market and and kind of dating distribution on them. Thank you.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1212s"},{"start_seconds":1229,"text":"Thank you so much for coming, Ilia. And um I highly recommend everyone to go listen to the latest A16C crypto podcast","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1229s"},{"start_seconds":1238,"text":"um where Ilia was a guest uh few weeks ago. If you want to know more about and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1238s"},{"start_seconds":1246,"text":"get to understand the convergence of crypto and AI and where AI, the probably","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1246s"},{"start_seconds":1253,"text":"the most technology, probably the most powerful technology developed today, is headed and why uh crypto is the enabler,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1253s"},{"start_seconds":1261,"text":"the railroads that will truly set us free. Next up, we got CTO from Near AI,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1261s"},{"start_seconds":1268,"text":"Eric Wina. And I know he's been busy building. Eric is here to remind you all what Near AI is all about. I'm just going to add you to the stage, Eric.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1268s"},{"start_seconds":1280,"text":"There we go. And adding your screen as well. One","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1280s"},{"start_seconds":1288,"text":"second. Stop sharing my screen. Folks, I move other media. I just have to remove my own. Remove.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1288s"},{"start_seconds":1298,"text":"And there we go. Eric, it's all yours. All right, thanks. Uh, hey everybody.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1298s"},{"start_seconds":1305,"text":"I'm Eric Winer from Nearai. Uh, here to give you a little update on what Near AI has been up to. Um, just as a reminder,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1305s"},{"start_seconds":1313,"text":"you just heard a lot from Ilia about how um, Near is a blockchain for a AI very well suited to AI applications and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1313s"},{"start_seconds":1320,"text":"there's a lot of AI projects being built on Near. Um, Near AI is a particular project. uh we are near aligned trying","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1320s"},{"start_seconds":1330,"text":"to build let users own their own assets own their own data not rely on central authority so we are the near aligned","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1330s"},{"start_seconds":1336,"text":"platform for building userowned AI um we are not the only way to use near and AI","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1336s"},{"start_seconds":1344,"text":"as you just saw uh we are one of many uh we are proud to be part of the the near ecosystem uh so please keep in mind all the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1344s"},{"start_seconds":1353,"text":"amazing things happening on on the near blockchain uh using AI that aren't just us. Uh that said, a lot of great stuff","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1353s"},{"start_seconds":1362,"text":"happening on the near AI platform. Um we are about to hit uh our a thousandth agent. So if you are an AI agent","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1362s"},{"start_seconds":1370,"text":"developer, uh try to go hit agent a thousand. Um we'll give you some kudos in our telegram chat. Um getting more and more AI agent interactions and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1370s"},{"start_seconds":1378,"text":"especially something I love to see more agentto agent interactions which is one of the special strengths of the neari platform.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1378s"},{"start_seconds":1386,"text":"uh few uh things happening on the platform. If you've uh if you've used it in the past and want to come back just in the last most of this in the last","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1386s"},{"start_seconds":1394,"text":"couple weeks uh if not the last month or so um token streaming and logs improvements for AI agent developers.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1394s"},{"start_seconds":1401,"text":"This is uh this is something that's a little more um more involved than just like talking to chat GPT and seeing its","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1401s"},{"start_seconds":1408,"text":"output because an AI agent can do a lot of sort of value added services on the thing that you're sending out. So um so","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1408s"},{"start_seconds":1416,"text":"having that stream having that sort of intermediate step stream back all the way to the user can be very helpful. Uh we now support multimodal agents file","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1416s"},{"start_seconds":1424,"text":"uploads interacting with agents on different levels.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1424s"},{"start_seconds":1427,"text":"Um we have uh AITP which we announced a couple months back at this point. Um this is a uh a a protocol for agents to to pass structured data to other agents.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1427s"},{"start_seconds":1441,"text":"Um so in addition to just speaking over you know text uh natural language interface we envision um AI agents sort","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1441s"},{"start_seconds":1449,"text":"of across trust boundaries just over you know HTTP protocols or websockets or what have you um being able to communicate using these structured","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1449s"},{"start_seconds":1458,"text":"messages as well. Now today you can use that for things like uh approving a near transaction or asking for a particular","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1458s"},{"start_seconds":1466,"text":"decision out of a list of options or filling in a standard form like a shipping address. Um and in the future we're building in more wallet support.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1466s"},{"start_seconds":1474,"text":"We're building in a a very like an AI native payment protocol and a lot human loop addestations and another a lot of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1474s"},{"start_seconds":1481,"text":"great features that help these uh these AI to AI interactions go smoother.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1481s"},{"start_seconds":1488,"text":"Um the Neroa platform supports uh running agents that are built on top of link chain or coinbase agent kit. Uh basically a configuration only upload.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1488s"},{"start_seconds":1499,"text":"Um very few code tweaks required. So um makes it one of the easiest ways to host uh an agent that's been written using one of these","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1499s"},{"start_seconds":1508,"text":"frameworks. And I'm very excited about this. uh coming very soon just in the final stages of review is uh a new","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1508s"},{"start_seconds":1516,"text":"TypeScript SDK uh contributed by the Jutsu team um that sort of gives a more you know we are we have a TypeScript SDK","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1516s"},{"start_seconds":1523,"text":"right now but it's kind of more of a part of the Python SDK this is more of a typo T type TypeScript native SDK uh so you can build AI agents in your most","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1523s"},{"start_seconds":1531,"text":"familiar language so tons happening on the neari platform um in addition we have sort of near and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1531s"},{"start_seconds":1540,"text":"AI integrations working on outside of what you see on on the Near AI platform itself. Uh I'd like to call out again shade agents like Ilia called out.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1540s"},{"start_seconds":1548,"text":"Amazing stuff there. Um a few that you may not have heard of yet. Uh Coinbase","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1548s"},{"start_seconds":1553,"text":"has recently released a uh no or low KYC uh fiat on-ramp. You can buy up to $100","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1553s"},{"start_seconds":1562,"text":"of USDC on base. But if you integrate that into near intense now you can have","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1562s"},{"start_seconds":1570,"text":"uh easy onboarding low or no KYC on-ramp to any crypto. So um on the screenshot here is","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1570s"},{"start_seconds":1579,"text":"a example of doing that uh straight to USDC on near but of course with the power of near intense that could be to Bitcoin it could be anywhere. Um","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1579s"},{"start_seconds":1588,"text":"additionally uh Coinbase also released a spec for what they're calling the X42 payment protocol. um it's a little bit","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1588s"},{"start_seconds":1596,"text":"it's somewhat overlapping with what I just talked about with AITP but really a a little bit more minimal so we can still build on top of that. Uh similarly","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1596s"},{"start_seconds":1605,"text":"uh they built it to sort of work on base but um you know uh Robert and the team here has extended it to to be able to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1605s"},{"start_seconds":1612,"text":"work with near intense. We've got a a polar quest open to the to the Coinbase team and we've been uh partnering with them on a lot of their uh AI agent work.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1612s"},{"start_seconds":1620,"text":"I think it's been very exciting stuff.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1620s"},{"start_seconds":1622,"text":"Um, to those of you looking uh watching on YouTube, I'm dropping links to this stuff in the comments. To those of you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1622s"},{"start_seconds":1629,"text":"watching on Twitter, uh, check my Twitter uh, which I think is linked","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1629s"},{"start_seconds":1635,"text":"right there uh, for these links. Um, all right. Uh, that's what I had to show you. Thanks everybody.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1635s"},{"start_seconds":1650,"text":"Thank you so much for coming, Eric. Keep cooking. Super excited to hear more about all the stuff that you're doing","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1650s"},{"start_seconds":1657,"text":"agent wise with Coinbase and in general just making it super easy to deploy autonomous real autonomous agents on","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1657s"},{"start_seconds":1665,"text":"NIA. So everyone stay tuned uh for stuff coming out from NIA AI. Next up, we got","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1665s"},{"start_seconds":1672,"text":"Lane Reic, who's running the governance or the latest governance um experiment","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1672s"},{"start_seconds":1679,"text":"that for now on Near Protocol called House of Stake. And he's here to give an update on everything that he's been","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1679s"},{"start_seconds":1687,"text":"working on lately. Lane, let me just bring you on stage. Which one is it? This","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1687s"},{"start_seconds":1696,"text":"one. Lane, are you there? Oh, sorry. There are like three of you.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1696s"},{"start_seconds":1703,"text":"This is the one. There we go. There we go. And which one?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1703s"},{"start_seconds":1708,"text":"That was a backup. Always good to have a backup. I like that. Especially when you're on Linux, things tend to go wrong. So, yeah.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1708s"},{"start_seconds":1717,"text":"All right. Take it away. Just a quick time check. Do we have a target? Is it like 10 minutes or something? Yeah, five to 10 minutes. Okay, perfect. All right.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1717s"},{"start_seconds":1726,"text":"All right. Hey, everybody. Um, I'm Lane.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1726s"},{"start_seconds":1729,"text":"I do research at the foundation. Um, and my main project right now is House of Steak. Um, hope everyone is well. Uh,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1729s"},{"start_seconds":1738,"text":"yeah. So, I'm excited to give everybody an update. Things are cooking. Things are moving very quickly in House of Steakland. Hopefully, that will become","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1738s"},{"start_seconds":1745,"text":"clear in the presentation. So, um, I never want to assume too much prior information or context. So, I'm going to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1745s"},{"start_seconds":1752,"text":"very briefly introduce House of Stake and its goals. Um I'll give you a snapshot of the uh the road map and where we are right now, what's coming.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1752s"},{"start_seconds":1761,"text":"Um I'll briefly introduce the working groups that have been established. Um I will give you a sneak peek so some alpha","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1761s"},{"start_seconds":1768,"text":"drop in here into what the house of stake front end is going to look like and then with any time we have left we'll talk about the really fun stuff which of course is the AI piece. Uh so","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1768s"},{"start_seconds":1777,"text":"what is house of stake? Basically it's the social governance layer for the entire near ecosystem. the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1777s"},{"start_seconds":1783,"text":"protocol. Uh the goals here are to um correct some of the mistakes of the past to learn from what's working well in","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1783s"},{"start_seconds":1792,"text":"other ecosystems and to gradually move towards maximally decentralized communitydriven governance. Uh I like","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1792s"},{"start_seconds":1801,"text":"always to start with principles and values. You could see the list here. I'm you know want to be very clear. I'm responsible for like bootstrapping this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1801s"},{"start_seconds":1808,"text":"project. But in no way, shape or form is House of Stake only my project, right? It is by definition a community project.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1808s"},{"start_seconds":1814,"text":"So if anybody here has any thoughts, push back, concerns, you think things are missing or whatever, um please feel free to uh to DM me. My DMs are always","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1814s"},{"start_seconds":1822,"text":"open on X and a bunch of other places uh Telegram as well. Um but yep, we want to gradually embrace community-ledd governance. As I said, we want to keep","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1822s"},{"start_seconds":1830,"text":"things simple, right? I think this is partly learning from the mistakes of the past. We want as much transparency and accountability as is feasible at every","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1830s"},{"start_seconds":1837,"text":"stage of the project. Uh we want to reemphasize that governance should always be permissionless and of course building trust very very important","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1837s"},{"start_seconds":1845,"text":"including old-fashioned ways like facetoface meetings.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1845s"},{"start_seconds":1849,"text":"Um the bottom line goal of the house of stake is actually to just uh build this solid foundation of community-led","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1849s"},{"start_seconds":1857,"text":"governance that can be used to build a thriving or I should say continue to build and expand a thriving ecosystem on top. Um obviously there's some overlap","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1857s"},{"start_seconds":1866,"text":"there with the goals of the near foundation and other folks and other players within the ecosystem and that's that's healthy. That's by design. Uh the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1866s"},{"start_seconds":1873,"text":"vision here is that over time as it matures house of state will take on more responsibility. the scope will grow um and it will hopefully over time be able","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1873s"},{"start_seconds":1881,"text":"to take on at least some of the things that are being done by the foundation today. Um and then some intermediate goals. You've probably heard me speak about these before, right? We definitely","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1881s"},{"start_seconds":1890,"text":"uh want to improve the economics of the protocol and this discussion is beginning in earnest now about what that will look like. Um, having said that,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1890s"},{"start_seconds":1898,"text":"even if we do do something like reducing inflation, we want to make sure that life is good for the validators and ideally even better than it is today under house of stake and that more","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1898s"},{"start_seconds":1907,"text":"validators decide to join and help us decentralize the protocol. Uh, of course we always want to maintain or ideally increase the security of the network","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1907s"},{"start_seconds":1915,"text":"through things like increasing the number of validators, the economic security and uh, I guess another goal here that we haven't talked about as","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1915s"},{"start_seconds":1923,"text":"much is and this gets into some of the AI stuff. Governance is hard. It's a huge burden. Anyone who's been active in Dows can tell you that. And so actually","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1923s"},{"start_seconds":1930,"text":"we want to lean heavily into AI to reduce some of that burden on the human actors in near governance.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1930s"},{"start_seconds":1938,"text":"Uh this is probably the most interesting slide here and I'm realizing now the font is probably pretty small unless your monitor is sharper than mine. Uh of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1938s"},{"start_seconds":1946,"text":"course happy to kind of share this later. Um I don't think we have time to go through everything that's going on.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1946s"},{"start_seconds":1951,"text":"Uh I did my best to kind of divide into two timelines here. So the top is as you can see kind of the main area of focus right now which is getting the initial house of state product out of the door","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1951s"},{"start_seconds":1960,"text":"bootstrapping the governance. Um and then in parallel to that we have other things cooking which are related to kind of AI which we'll talk about later some","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1960s"},{"start_seconds":1968,"text":"of these AI initiatives as well as some more pure research. Um maybe I'll just speak to the second piece first because there's less things there. We're working","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1968s"},{"start_seconds":1976,"text":"on a research partnership with a major research university. I hope to be able to share details on that soon. Right. So we're actually very excited to um come","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1976s"},{"start_seconds":1985,"text":"up with some falsifiable hypotheses and work with some posttos and some faculty uh and and really just um explore these","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1985s"},{"start_seconds":1993,"text":"incredibly fascinating questions at the intersection of AI and governance and and the outcome here should be some real research papers and some conference presentations. I'm excited about that.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=1993s"},{"start_seconds":2001,"text":"Um and then flipping back up to the kind of governance piece here.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2001s"},{"start_seconds":2006,"text":"Um we have our delegates in place. You can see the dotted line is where we are today. The delegates have begun meeting, have set up uh a set of working groups,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2006s"},{"start_seconds":2013,"text":"which I'll introduce in a moment. Um we should very shortly have some draft proposals ready. Uh I mentioned a couple times House of Stake is hiring for a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2013s"},{"start_seconds":2022,"text":"couple of roles including a head of research role and I owe everybody a job description that should be in place shortly. Um and then we should see the product come together. So the first","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2022s"},{"start_seconds":2031,"text":"piece here, well, I guess it's very clear, Q2. So moving into Q3, uh we should have a an alpha version of the um House of Stick front end by the end of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2031s"},{"start_seconds":2038,"text":"this quarter actually. And then we expect that to uh uh to actually go live with an official launch um and a final polish product sometime uh around the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2038s"},{"start_seconds":2047,"text":"the middle of of Q3. Um I'm going to keep moving in the interest of time.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2047s"},{"start_seconds":2051,"text":"Again, happy to share this slide. So I think it's worth pointing out that uh we have these 11 initial delegates. I'm","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2051s"},{"start_seconds":2059,"text":"really excited about the progress that they're making which is very very rapid.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2059s"},{"start_seconds":2062,"text":"Um I personally and the foundation have had a pretty light touch here. I mean, of course, I'm, you know, here as a resource and and trying to be helpful","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2062s"},{"start_seconds":2070,"text":"where I can and answer questions as they arise, but on their own, the delegates have really stepped up and have already established these four working groups.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2070s"},{"start_seconds":2078,"text":"Uh, again, I'm not going to read through this list. You can read it on your own or I can I can share the deck afterwards. Um, but I think that these four working groups really speak to a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2078s"},{"start_seconds":2087,"text":"lot of the value of House of Stake and some of the early areas where uh we think they're they're going to have an impact. Um, they self-organized into","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2087s"},{"start_seconds":2095,"text":"working groups. the working groups each have a lead. They've begun having calls.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2095s"},{"start_seconds":2098,"text":"Um, and since this is kind of an ecosystem town hall, I'll mention that there's a lot of dialogue about how to open this up as much as possible to the community that's happening right now. In","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2098s"},{"start_seconds":2106,"text":"particular, in the third working group, which is the governance, infrastructure and processes working group. If that's a conversation you're interested in being a part of, feel free to reach out to me","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2106s"},{"start_seconds":2114,"text":"and I happy to connect you to uh to the folks who are working on that.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2114s"},{"start_seconds":2119,"text":"Um so on product the backend smart contracts that powerhouse of stake were finished. Uh you can see there was a release here at the beginning of April.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2119s"},{"start_seconds":2128,"text":"Uh so shout out to the faster team. Uh this is all open source, right? So if you go to FastNhouse contracts on GitHub, you can see the actual code. Um","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2128s"},{"start_seconds":2137,"text":"it's been audited as well. The audit is has wrapped up. Uh I believe the final items are being addressed this week. So our our friends at Halbourne uh did that work. So shout out to them as well. So","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2137s"},{"start_seconds":2146,"text":"that's really really good news. the the back end is is really critical and also again a shout out to fast near here. As you can see, no critical, no high, no","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2146s"},{"start_seconds":2153,"text":"medium issues whatsoever in the code. I think that that's really fantastic given how critical this this code is and how much uh near is going to be flowing","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2153s"},{"start_seconds":2160,"text":"through it. Uh the front end um this uh so if you've seen Agora before, I'm going to I'm going to go","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2160s"},{"start_seconds":2168,"text":"ahead and try to just do this on fast forward. As Matt said, we have a demo here. Video will be now updating on a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2168s"},{"start_seconds":2177,"text":"daily weekly basis. So, as promised, this will be our our staging environment that will continuously be updating. So, you can see here we've got some early proposals being indexed and some folks happen here not already pretty simple","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2177s"},{"start_seconds":2185,"text":"right now. So, you can vote, but there are no I'll just kind of kill the audio.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2185s"},{"start_seconds":2188,"text":"I'm not even sure if you guys could hear it, but um yeah, this is a super quick demo of what the House of State front end is going to look like. You saw it here first. Nobody anywhere has seen","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2188s"},{"start_seconds":2197,"text":"this before. Um so, again, real alpha dropping here. Uh, Agora has been has been a fantastic partner. We're really","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2197s"},{"start_seconds":2204,"text":"excited to be working with them. Um, and they have built uh, front end. So, this should look pretty familiar if you've seen, you know, the work on on projects like ENS and Uniswap um, that are using","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2204s"},{"start_seconds":2213,"text":"Avora. They really are they really are best-in-class and we're we're really really excited to to see this uh, taken to the next stage and go live. Um, so","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2213s"},{"start_seconds":2221,"text":"yeah, this is what the process of creating a proposal looks like. You can see there's some proposals in the system here.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2221s"},{"start_seconds":2227,"text":"Um I believe yeah so this is kind of just like a simple dashboard. You can see the V near token is live here as","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2227s"},{"start_seconds":2234,"text":"well. Um you can stake your near into V near and then you can delegate it to one of the delegates. You can vote a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2234s"},{"start_seconds":2241,"text":"proposal. So that's the kind of set of functionality that we're targeting here for the initial product release. Um so yeah again shout out to Agora for for","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2241s"},{"start_seconds":2249,"text":"really fantastic work on uh on getting the front end uh running.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2249s"},{"start_seconds":2254,"text":"Um uh and then just super super briefly, I know we're we're kind of up against time here, but um you know the the direction we're going here is uh is is","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2254s"},{"start_seconds":2264,"text":"AI everything, right? This is near. We are uh excited to lean very heavily into AI in House of Stake as we are in other areas. Obviously, you just heard from um","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2264s"},{"start_seconds":2272,"text":"uh from Eric and from Ilia about how things are going on the near AI side. Uh we we are excited in House of Stake to be relying on on near AI infrastructure","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2272s"},{"start_seconds":2281,"text":"as well. Um, this piece I've spoken to I think even here on the town hall before a few months ago, right? So, uh, we're kind of breaking the AI work into three","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2281s"},{"start_seconds":2289,"text":"phases. So, the assistant, which is a simple chat tool, and we expect to be able to deliver that pretty soon. Uh, the AI delegate, a lot to say about this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2289s"},{"start_seconds":2297,"text":"work has begun. We have a couple of um, ecosystem partners, people who are working on this in other ecosystems, including uh, Ethereum and Gitcoin. Um,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2297s"},{"start_seconds":2306,"text":"the most recent Gitcoin grants round actually did include a few AI agents that were helping with public goods funding, which is one of the first things we expect to be able to use uh AI","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2306s"},{"start_seconds":2314,"text":"agents for in House of Stake. And then Ilia's grand vision of the AI CEO. Um, you'll hear more about that later this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2314s"},{"start_seconds":2321,"text":"year. Um, and then yeah, so I spoke a moment ago about how we're working on a major research lab partnership and just","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2321s"},{"start_seconds":2330,"text":"want to emphasize again that uh we are serious about research, right? we're we're talking not just about blog posts and um you know forum posts and things","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2330s"},{"start_seconds":2337,"text":"like that. We are actually working towards um towards some real public goods research here. So so really working at the at the cutting edge the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2337s"},{"start_seconds":2344,"text":"forefront of um of of knowledge globally and in in things like the intersection of AI and governance uh working with the best people in the world on that. Um in","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2344s"},{"start_seconds":2352,"text":"addition to just papers and conference talks, we're also uh thinking of train training actually a model specifically on um on governance and we have uh some","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2352s"},{"start_seconds":2360,"text":"folks who are excited to work on that with us. And um I just kind of picked the top of the heap here three of the questions that are on my mind. Um I'm","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2360s"},{"start_seconds":2369,"text":"trying to come up with an initial list list of these research topics and and again turning them into like proper falsifiable hypotheses, you know, that a real academic research or a postto can","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2369s"},{"start_seconds":2377,"text":"sink their teeth into for as long as a year. Um, and so again, anyone here who uh has thoughts along these lines, I'd be very excited to hear them. Now would","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2377s"},{"start_seconds":2386,"text":"be a great time to have that conversation. That is it from me. Thank you for listening. My DMs are always","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2386s"},{"start_seconds":2398,"text":"open. Thank you so much for coming, Lane, and telling us much more. As you can hear, folks, a lot of stuff is going","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2398s"},{"start_seconds":2405,"text":"on around governance on NIA, and we're really trying to take it to the next level. So go um check it check out","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2405s"},{"start_seconds":2414,"text":"what's being built. Um be supportive, be constructive, and let's move the near ecosystem one way, which is forward. All","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2414s"},{"start_seconds":2421,"text":"right, next up we got Andy from FX Finance. Hello, Andy. How's it going?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2421s"},{"start_seconds":2429,"text":"Hello. Hello. Can you guys hear me?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2429s"},{"start_seconds":2431,"text":"Yeah, we hear you loud and clear. I'm just going to add your presentation to the stage. It's all yours, Andy. For","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2431s"},{"start_seconds":2439,"text":"sure. Amazing. Yeah, thank you guys for having me. Um, the last presentation was really great. Um, I I do want to keep it pretty simple due to the timeline uh the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2439s"},{"start_seconds":2447,"text":"time strain that we have here. So, um, I'm from FRA. My name is Andy. Um, and you guys probably might have heard us as","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2447s"},{"start_seconds":2456,"text":"uh, we just did a hard fork from FRA to FRAUSD. And you guys may know us kind of as the team that works with Near Protocol to further you know realize a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2456s"},{"start_seconds":2464,"text":"multi-chain vision through programmable currency and userowned artificial intelligence. So in in many ways uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2464s"},{"start_seconds":2471,"text":"we're trying to you know power a lot of the things within the near ecosystem with our stable coins. Um I think we've","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2471s"},{"start_seconds":2478,"text":"worked with uh I think it's RI finance I think they were called uh ref finance before. Um so to kind of power the DeFi","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2478s"},{"start_seconds":2487,"text":"side of um you know Near ecosystem that's another angle that we were working on but today I wanted to talk","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2487s"},{"start_seconds":2494,"text":"kind of about uh what FRAUSD is and what SFRAUSD is as those assets are also live","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2494s"},{"start_seconds":2500,"text":"on year. Um so our mission basically uh being like the first is basically being the first legal tender stable coin to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2500s"},{"start_seconds":2508,"text":"get chartered after US legislation. Um so mainly our vision is to kind of convert old digital money into a new","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2508s"},{"start_seconds":2516,"text":"legal tender digital dollar that can be used onchain you know earned yield um used by AI and etc to upgrade the global","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2516s"},{"start_seconds":2524,"text":"financial system. So you can you know think of us as some uh like a project that is very heavily aligned with um","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2524s"},{"start_seconds":2531,"text":"near's um alignment in terms of vision as well and with our roadmap that we announced earlier last month or two","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2531s"},{"start_seconds":2539,"text":"months ago AI was actually a very huge part of it and we're very you know near has been so supportive and we're very happy to you know work with near all the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2539s"},{"start_seconds":2548,"text":"time um and moving forward um just wanted to get dive deeper into how FRAUSD is now different as a payment","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2548s"},{"start_seconds":2557,"text":"payment stable coin. So now we're the most you know one of the most secure stable and scalable digital dollars as","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2557s"},{"start_seconds":2564,"text":"you can see here. um we basically earn T bills from underlying FRAUSD and you know for selected partners and strategic","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2564s"},{"start_seconds":2572,"text":"partners we give up to 100% of the T build yield back uh and why is FRAUSD um so important and why do we see it as you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2572s"},{"start_seconds":2580,"text":"know one of the top stable coins and payable stable coins in the future it it is it is actually a completely new flagship stable coin that is completely","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2580s"},{"start_seconds":2588,"text":"backed by treasury bills by institutional partners so we launched this with uh black rockck superstate and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2588s"},{"start_seconds":2595,"text":"securitize um as our main T-build yield backers. So users can actually mint and redeem FRAUSD by holding T bills and you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2595s"},{"start_seconds":2603,"text":"know Black Rockck presents us as that of a of Bidd token. Um so how we work with you know different protocols and why we","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2603s"},{"start_seconds":2611,"text":"see that you know this is a good competitive edge for in the stable coin industry is that we try to make it a very uh you know grow the pie strategy","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2611s"},{"start_seconds":2620,"text":"where we you know offer institutional partners or strategic partners um the T bill yield back where they can use that","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2620s"},{"start_seconds":2627,"text":"um the way they want to whether it be powering their DeFi side of things and the the FRAUSD the token itself is actually not a rebasing or an RWATO","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2627s"},{"start_seconds":2636,"text":"token um it is a fully payment stable coin and it's going to get regulated legally in the US tender um and by that","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2636s"},{"start_seconds":2644,"text":"law we are actually able to give the token itself yield back because it's supposed to be a payment stable coin um","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2644s"},{"start_seconds":2651,"text":"and to as you can see here you know uh institutional grade security and backing um as mentioned you know black rock superstate wisdom and way more partners","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2651s"},{"start_seconds":2660,"text":"coming that we have um moving forward to announce um and you know when when we started when we did this pivot uh to go","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2660s"},{"start_seconds":2669,"text":"into payment stable coin, we wanted to think of ourselves as you know bringing back the original Libra vision back to life with FRA. Um so I'm not sure how","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2669s"},{"start_seconds":2678,"text":"familiar um for those of you guys are watching with Libra, but um we wanted to kind of replace all of not replace but","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2678s"},{"start_seconds":2685,"text":"basically become what the Libra vision is for FRAUSD. And that's why we aim to and have actually um all of these","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2685s"},{"start_seconds":2693,"text":"partners on board with us to move forward um with our vision. Um and that's pretty much it about FRAUSD and you guys will see a lot more of us in","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2693s"},{"start_seconds":2702,"text":"the near ecosystem um with our payment stable coin to kind of um power the AI and DeFi side of the ecosystem at NER.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2702s"},{"start_seconds":2711,"text":"Um and yeah, that kind of concludes a huge short brief of our uh what FRA is and what FRAUSD is. Thank you.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2711s"},{"start_seconds":2727,"text":"Thank you so much for coming Andy and um telling us a little bit more what you guys been up to at FRA sounds super interesting and I cannot wait to see how","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2727s"},{"start_seconds":2735,"text":"we're going to take DeFi on near and autonomous money autonomous programmable money to the next level. All right, next","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2735s"},{"start_seconds":2744,"text":"up we got Eric from Intelix. Um, who recently raised their first round and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2744s"},{"start_seconds":2751,"text":"I'm really excited to hear more about what they're building. Hello, Eric. How are you doing? Hello. I'm doing great.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2751s"},{"start_seconds":2759,"text":"I'm doing great. All right. I added your slides. Please take it away, sir. Sure.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2759s"},{"start_seconds":2765,"text":"um very excited to be part of the near ecosystem and uh as Ilia said a few moments ago the real challenge is going","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2765s"},{"start_seconds":2773,"text":"to be how does AI work together and that's something that we're trying to do at Intellects which is deploying uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2773s"},{"start_seconds":2780,"text":"technology and infrastructure to support crosschain agent interoperability and collaboration management and you could","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2780s"},{"start_seconds":2788,"text":"say that what we're what we're doing is is we're in the trenches we're working with enterprises and and what we've seen in the enterprise work that we've done","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2788s"},{"start_seconds":2795,"text":"is really three interesting things. The first is that enterprises are expecting their agent multi- aent systems to solve","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2795s"},{"start_seconds":2804,"text":"complex problems, not merely just automate uh certain business operations. And when","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2804s"},{"start_seconds":2812,"text":"that happens, what they're also expecting is that those those multi- aent systems are open, meaning that","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2812s"},{"start_seconds":2819,"text":"there's not a a fixed number of agents that might be involved in solving a complex problem, but there there might be multiple agents and those agents are","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2819s"},{"start_seconds":2828,"text":"constantly changing. The agents um are are joining the the problem solving uh force or they're they're they're they're","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2828s"},{"start_seconds":2835,"text":"departing from it. and and agents are also expanding. In our work with some enterprise customers, we're seeing that uh you may start off","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2835s"},{"start_seconds":2844,"text":"with 20 agents to solve a complex problem, but by the end of the uh the particular implementation, you may have","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2844s"},{"start_seconds":2851,"text":"you may see 50 50 to 60% growth. So the the the the problem then is what happens in this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2851s"},{"start_seconds":2860,"text":"open agent ecosystem and how do agents uh work together? How do agents share","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2860s"},{"start_seconds":2868,"text":"their providence, their reputation, their skill sets, their shared knowledge? And what we frequently find is that because agents operate","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2868s"},{"start_seconds":2877,"text":"probabilistically is that agents 35% of the time will come up with their own solutions to the problems that are not","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2877s"},{"start_seconds":2884,"text":"what we as the programmers of those agents are actually expecting. And so you see this highly probabilistic","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2884s"},{"start_seconds":2891,"text":"ecosystem as these agents work together to solve these complex problems. And so how do you use blockchain and specifically how do you use the near","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2891s"},{"start_seconds":2900,"text":"infrastructure to be able to enable agents to interoperate to be able to communicate together? And it's not only","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2900s"},{"start_seconds":2907,"text":"do they share the same large language model but frequently those agents will speak different languages and I'm not talking about French and German. What","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2907s"},{"start_seconds":2914,"text":"I'm talking about is the fact that have you ever ever had a agent that is managing inventory talk to an agent that is working on supply chain or working on","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2914s"},{"start_seconds":2923,"text":"marketing? They talk totally different languages and as a result of that how agents make decisions and how that multi- aent system governs itself","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2923s"},{"start_seconds":2932,"text":"becomes critically important. So this is where near and specifically near intense becomes critically important. We're","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2932s"},{"start_seconds":2940,"text":"working with near intents to begin to use near intents to handle reputation tracking. Where did this agent come","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2940s"},{"start_seconds":2947,"text":"from? What kind of reputation does it have? What expertise does it have? Do I really want it to be part of this multi- aent system? Um, do all the agents agree","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2947s"},{"start_seconds":2956,"text":"that a specific event just occurred? Did we in fact increase inventory or did we in fact complete this transaction on a contract um because it's probabilistic?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2956s"},{"start_seconds":2967,"text":"We've seen situations with our with with our enterprise customers in which there might be three out of five agents","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2967s"},{"start_seconds":2975,"text":"disagreeing about whether a particular outcome was actually achieved. And finally, how do we federate memory with all these agents in this open system","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2975s"},{"start_seconds":2984,"text":"trying to collaborate together? How do they share memory? And Near Intense is an absolutely perfect infrastructure to be able to support the federation of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2984s"},{"start_seconds":2993,"text":"memory, the ability to track reputation and the ability just to achieve consensus around specific","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=2993s"},{"start_seconds":3000,"text":"events. Um, so what is the intellect's infrastructure? Well, we're we're using uh agent interoperability, especially","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3000s"},{"start_seconds":3009,"text":"crosschain using your intents to create a persistent memory for a very dynamic multi- aent system. We're also creating","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3009s"},{"start_seconds":3017,"text":"the ability to verify agent reputation and skill set and then achieving probabilistic consensus. Did did this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3017s"},{"start_seconds":3025,"text":"agent system actually achieve the outcome that they actually expected?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3025s"},{"start_seconds":3031,"text":"We're doing that using a set of protocol uh primitives which we call sentinels which are are modular blockchain","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3031s"},{"start_seconds":3038,"text":"services that allow us to use uh dis um directed graphs uh stigment","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3038s"},{"start_seconds":3046,"text":"coordination. a lot of things that come out of the multi-agent uh systems literature about how to be able to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3046s"},{"start_seconds":3053,"text":"manage these these highly unmanageable agent systems that are actually deployed to solve complex problems within the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3053s"},{"start_seconds":3061,"text":"enterprise. But you may be interested in how do we actually sell this to enterprises? Well, we don't talk about blockchain. In fact, we don't even talk about agents. In fact, we don't even","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3061s"},{"start_seconds":3069,"text":"talk about AI. What we do is we we talk about these multi- aent systems built on","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3069s"},{"start_seconds":3076,"text":"top of near as digital workers and we sell them exactly like you would sell a a human workforce. You can see on the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3076s"},{"start_seconds":3084,"text":"left hand side a resume from one of our our digital workers and on the right hand side a series of screenshots from a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3084s"},{"start_seconds":3091,"text":"digital worker management platform that we provide to our enterprise customers","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3091s"},{"start_seconds":3099,"text":"that allow them to see how are these agents working together um or how are these digital workers working together to solve problems? How are they","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3099s"},{"start_seconds":3107,"text":"communicating together? what are the reputations of the of the digital workers that are now part of this ecosystem? And um we're excited to to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3107s"},{"start_seconds":3117,"text":"share that uh with not only with our customers but also with other members of the near","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3117s"},{"start_seconds":3124,"text":"ecosystem and and I'll give you a very concrete example. We're working with a very large food broker uh in the United","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3124s"},{"start_seconds":3131,"text":"States. Food brokers are an outsourced sales team. So you might have several hundred food manufacturers that can't","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3131s"},{"start_seconds":3138,"text":"afford to uh hire salespeople to call on restaurants or hospitals or schools. Um","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3138s"},{"start_seconds":3145,"text":"and the food broker actually has this sales this sales force. And uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3145s"},{"start_seconds":3152,"text":"so one food broker with 200 food manufacturers, we're actually deploying and managing close to 300 agents that","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3152s"},{"start_seconds":3162,"text":"allow the broker and the food manufacturers to coordinate things like where do we market? Who do we sell to?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3162s"},{"start_seconds":3170,"text":"Um what kinds of discounts should we give and apply to uh to to the specific","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3170s"},{"start_seconds":3176,"text":"customer? Each of those agents are not controlled centrally but are totally decentrally managed because the agents","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3176s"},{"start_seconds":3184,"text":"are coming from multiple different places from the food manufacturers from outside vendors from the actual broker themselves. And so each has its own","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3184s"},{"start_seconds":3193,"text":"unique strategy, its own o own large language model, its own goals and it's actually its actual own um own language.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3193s"},{"start_seconds":3201,"text":"And so the ability for these these agents to interoperate especially if those agents are onchain uh on on","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3201s"},{"start_seconds":3209,"text":"different chains using your intents becomes critically important to us.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3209s"},{"start_seconds":3214,"text":"Um, so we are deploying digital worker teams for that food broker to handle things like ordering, logistics,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3214s"},{"start_seconds":3221,"text":"pricing, and we're allowing third-party agents that might come from manufacturers and retailers to to come into this problem solving ecosystem and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3221s"},{"start_seconds":3231,"text":"work together. All the while underneath payment transactions for agents, the transfer of data between agents, and the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3231s"},{"start_seconds":3239,"text":"tracking of reputation in memory become critically important. and how how it is that business enterprises can feel","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3239s"},{"start_seconds":3246,"text":"comfortable that this open multi- aent system that is working to solve these logistics and ordering problems can actually do that successfully.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3246s"},{"start_seconds":3255,"text":"One of the exciting things that we're doing um beginning next week on May 12th is uh providing to the near ecosystem","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3255s"},{"start_seconds":3263,"text":"what we call nearx time near times enterprise um opportunities to be exposed to the kinds of business use","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3263s"},{"start_seconds":3271,"text":"cases that our enterprise customers have and to invite um agent developers uh who","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3271s"},{"start_seconds":3280,"text":"are interested in real life agent frameworks uh or are interested in developing uh agents that can be part of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3280s"},{"start_seconds":3287,"text":"these EOS uh these systems that we're deploying to participate in the development of those and uh those are going to be live uh AMAs. We're going to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3287s"},{"start_seconds":3296,"text":"be talking about the actual use case, the agent uh requirements and needs that we have looking for partners to help us develop those uh and then talk","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3296s"},{"start_seconds":3305,"text":"technically about how those agents need to interoperate using the Intellect uh infrastructure. Um we're we're uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3305s"},{"start_seconds":3313,"text":"anticipating a TGE in the next three weeks and focused right now on con consumer packaged goods, logistics and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3313s"},{"start_seconds":3319,"text":"retail media uh uh uh industries bringing to bear um these multi- aent systems, these digital workers that are","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3319s"},{"start_seconds":3328,"text":"able to handle logistics, inventory, sales and marketing efforts. And our goal right now is by the end of 2026 to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3328s"},{"start_seconds":3338,"text":"have deployed uh these digital workers who are specialized in uh or specialists","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3338s"},{"start_seconds":3345,"text":"in food service operations, sales, marketing, uh inventory management. try","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3345s"},{"start_seconds":3351,"text":"to achieve a goal of 85% uh uh of those uh food manufacturers and food brokers would be on the Intellects","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3351s"},{"start_seconds":3360,"text":"infrastructure which of course means that they're going to be on on Near using Near intents for all of the reputation management, memory management, intelligence sharing etc.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3360s"},{"start_seconds":3369,"text":"Um, and we're also excited that we just have completed uh a vesting contract uh for near builders with in in partnership","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3369s"},{"start_seconds":3377,"text":"with Rio Finance that we're making available in open source to uh allow other projects to accelerate their uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3377s"},{"start_seconds":3386,"text":"their ability to leverage near not only the infrastructure but the ability to finance uh finance their projects and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3386s"},{"start_seconds":3394,"text":"and participate in this exciting vision that Ilia has laid out. So, thank you very much.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3394s"},{"start_seconds":3411,"text":"Thank you so much for coming and telling us more about Intellect, Eric. U really interesting to hear all the stuff you guys got going. And as Eric mentioned,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3411s"},{"start_seconds":3420,"text":"if you are a company or project building on near and you'd like to be uh part of any of the be part of like this showcase","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3420s"},{"start_seconds":3428,"text":"series, do not hesitate to reach out to Eric um or us as we would be very happy","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3428s"},{"start_seconds":3436,"text":"to help you facilitate run this series and put a spotlight on how enterprises can adopt a decentralized technology","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3436s"},{"start_seconds":3445,"text":"powered by near protocol. Lastly, we got Felix from X-Trace","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3445s"},{"start_seconds":3453,"text":"AI. And Felix, you're here today to tell us much more about secure AI agent knowledge and memory for collective intelligence if I'm correct. Yes. Yes.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3453s"},{"start_seconds":3465,"text":"I'm just going to add you your presentation to the stage.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3465s"},{"start_seconds":3470,"text":"One second. There you go. Take it away, sir. Sorry.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3470s"},{"start_seconds":3477,"text":"I remember my Hey everyone, really excited to be here and thank you for inviting me on the event. So we are X-rays. We are the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3477s"},{"start_seconds":3486,"text":"private context and long-term memory layer for AI agents. So what we do is that we create an encrypted vector database that using our proprietary","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3486s"},{"start_seconds":3494,"text":"search algorithm can do semantic search on cipher text which means now that the AI agent can send out encrypted query to fetch data that is encrypted as well.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3494s"},{"start_seconds":3504,"text":"So we align with the nearest vision about like there will be trillions of personal agents for business and consumers and the in the future the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3504s"},{"start_seconds":3511,"text":"large range model really become the commodity and what really matters is how we coordinate the proprietary data it have access to the to it have access to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3511s"},{"start_seconds":3519,"text":"and how it communicates with other agents. So the ship will become from public knowledge only to personal and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3519s"},{"start_seconds":3526,"text":"proprietary data and then from local only memory to shared encrypted context.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3526s"},{"start_seconds":3531,"text":"So different agents can share their own memory and maintain a persistent stateful conversation between each other and by unlocking all this we can lead to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3531s"},{"start_seconds":3540,"text":"the future from isolated tools to intelligent collaborators between different agents. However to realize this f future","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3540s"},{"start_seconds":3548,"text":"we need to uh build out this new technical building blocks. The first one is this private knowledge store and retrieval. So now that AI agent can","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3548s"},{"start_seconds":3556,"text":"securely maintain state and have a state of their own memory. the knowledge in the context all together as a unified memory layer and allow agents to store","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3556s"},{"start_seconds":3566,"text":"it and retrieve it and while making sure that no one except the agent owner have access to it or the one they want to share with and then we can connect all","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3566s"},{"start_seconds":3574,"text":"of this and create this unified long-term memory layer so that whenever you're working with the agent they can you can use x-rays as a memory layer and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3574s"},{"start_seconds":3583,"text":"then you can use that memory layer to share with other AI agents and this become portable and sharable so you have this memory mode and data when you're","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3583s"},{"start_seconds":3590,"text":"working with the agents and by combining this we can make sure that the agents collaboration are secure and stateful so that AI agents","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3590s"},{"start_seconds":3599,"text":"when they're collaborating they can always refer to past episodic memory and making sure that they'll autonomously improve and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3599s"},{"start_seconds":3606,"text":"scale. So we have delivered this missing privacy layer for the future. We created encrypted vector database and memory that supports semantic search over","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3606s"},{"start_seconds":3615,"text":"cypher text so that all the data that is being uh searched can be sent using like an encrypted query. And then the main breakthrough we","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3615s"},{"start_seconds":3624,"text":"had is like we we use homorphic encryption but change the overhead 700 times faster. So originally like a processing of a data chunk can take you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3624s"},{"start_seconds":3632,"text":"30 seconds and we accelerate to 0.092 millisecond. So this almost make it to near zero uh search and then make it","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3632s"},{"start_seconds":3639,"text":"really fast and private data sharing possible. So by combining all of this we believe that there's a lot of new building blocks that can create this","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3639s"},{"start_seconds":3646,"text":"collaborative ecosystem on the multiplayers game that they can support that acts like a Dropbox for AI agents and making sure that even the Dropbox","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3646s"},{"start_seconds":3654,"text":"data server can never see the data that's shared and uh transfer between each other AI agents. So this is the architecture of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3654s"},{"start_seconds":3662,"text":"X-rays which is live right now. So any agents or any enterprise can use our SDK to encrypt the data and it'll be sent out to our managed service. Now say like","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3662s"},{"start_seconds":3671,"text":"any agent running a TE they can send out encrypted query to fetch encrypted results. So this this this is a really great technical breakthrough because","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3671s"},{"start_seconds":3680,"text":"previously without our solution the agent living a TE to uh search for external data like to conduct something like a perplexity search they have to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3680s"},{"start_seconds":3687,"text":"load the whole internet database inside the TE decrypted and do all the rack pipeline but instead using our solution they can now simply send out encrypted","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3687s"},{"start_seconds":3696,"text":"query and we'll handle the data that is being identified that the agent needs and then send back the encrypted result so the agent can decrypt like the five","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3696s"},{"start_seconds":3704,"text":"out of the 10 million data and then use it for uh inference time scaling and then we're also making the compute that happens in the TE stateful","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3704s"},{"start_seconds":3712,"text":"so that now the AI agents can have their own encrypted memory and then uh expand and then collaborate based on top of","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3712s"},{"start_seconds":3720,"text":"that. So for any developers that are building external agents that are for other enterprise, the enterprise usually doesn't want to share their proprietary","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3720s"},{"start_seconds":3727,"text":"data with the external developer. But using X-ray solution, this uh paradigm can definitely be solved. They just the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3727s"},{"start_seconds":3735,"text":"enterprise can now use our SDK to encrypt all their vector data. And then now the agency develop is still built on top of this vector database. And I'll","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3735s"},{"start_seconds":3743,"text":"invite my CTO to do like a really quick demo of our live solution right now.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3743s"},{"start_seconds":3751,"text":"Uh, Peter, do you mind pinging Lewan on the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3751s"},{"start_seconds":3760,"text":"chat? So, Lewan is here now. Just got to find his","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3760s"},{"start_seconds":3769,"text":"screen. One second. Do we have Lewin in the house?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3769s"},{"start_seconds":3777,"text":"Yeah. Sorry. All right, Lewan. Um, feel free here's your screen","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3777s"},{"start_seconds":3783,"text":"and take it away. Okay, cool. So, hi everyone. I'm Lewan. Uh, I'm here to","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3783s"},{"start_seconds":3790,"text":"demo how XR SDK and the developer dash dashboard works. So in order to use","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3790s"},{"start_seconds":3798,"text":"actra SDK first you need to log in uh to the developer portal of actra and then you can uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3798s"},{"start_seconds":3806,"text":"create knowledge bases or uh achieve API keys and manage the permissions of the API keys to uh knowledge bases. Right?","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3806s"},{"start_seconds":3818,"text":"Once you have uh retrieved a a API key then you can use that API key uh to work","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3818s"},{"start_seconds":3826,"text":"uh with X-rays SDK. And now let me show you an example of how a you know typical","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3826s"},{"start_seconds":3834,"text":"user would use X-ray SDK to load uh data privately onto X-rays manage service and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3834s"},{"start_seconds":3842,"text":"retrieve uh relevant context data for his a uh for the AI agent.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3842s"},{"start_seconds":3848,"text":"uh with uh a encrypted query. So now uh you can see in order to use the SDK you would need all these infos from the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3848s"},{"start_seconds":3856,"text":"developer portal. And once you have these infos you can basically uh you know create a data loader which is a act","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3856s"},{"start_seconds":3865,"text":"implemented uh data loader that can encry embed encrypt your data locally and then send","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3865s"},{"start_seconds":3872,"text":"the cypers to act manage service. So now let me run this. It's going to take a while. But also uh I want to emphasize","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3872s"},{"start_seconds":3881,"text":"that in addition to the semantic search which Felix has talked about in extensively we also support like","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3881s"},{"start_seconds":3889,"text":"metadata search as you can see here I defined a list of metadata for each chunk. And uh yeah and then here's some","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3889s"},{"start_seconds":3899,"text":"dummy metadata I I I make just for demo purpose. So yeah, now the data has been","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3899s"},{"start_seconds":3907,"text":"successfully loaded to X-ray server and I also see I I'll show you a log so that","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3907s"},{"start_seconds":3914,"text":"you can tell all the data are encrypted as you can see here. So these are the data chunks and these are the indexes.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3914s"},{"start_seconds":3924,"text":"They're all ciphers, right? So now yeah, now let me show you how to retrieve data. It's also very simple. So it works exactly like","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3924s"},{"start_seconds":3933,"text":"how you would use a regular vector database like pine cone. So you just you know define a retriever and then","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3933s"},{"start_seconds":3941,"text":"retrieve the relevant data. Oh, by the way, the data is about a recent news post about Microsoft Microsoft","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3941s"},{"start_seconds":3949,"text":"cooperating with Elon Musk. And now my query is like why Elon Musk is partnering with Microsoft. And then here are the relevant data chunks that is","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3949s"},{"start_seconds":3958,"text":"being returned. Right? Also I need to show you the logs so that you know the query is also","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3958s"},{"start_seconds":3967,"text":"encrypted. Right? So yeah, here's the query. You can as you can see it's also encrypted. Now finally once you have the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3967s"},{"start_seconds":3976,"text":"you know relevant context data you can just feed it into whatever AI agent you are running locally or in your TE. So right now yeah","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3976s"},{"start_seconds":3986,"text":"so this is basically I me feeding the context data into a deepseek model and as you can see he's correctly answering","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3986s"},{"start_seconds":3995,"text":"the question like why you know Musk is partnering partnering with Microsoft which he shouldn't be able to answer","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=3995s"},{"start_seconds":4002,"text":"without uh you know a external knowledge base like X-ray I think that's it thank","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4002s"},{"start_seconds":4020,"text":"Thank you so much for coming uh Leewin and Felix and telling us more about um Xrays. Really great stuff that you guys","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4020s"},{"start_seconds":4028,"text":"uh been building out lately and I highly recommend giving them a follow if you're interested in the space. So lastly, I'm","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4028s"},{"start_seconds":4038,"text":"just going to walk you through some of the most um bullish news happening in the near ecosystem of the past month. If","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4038s"},{"start_seconds":4046,"text":"you don't know and if you haven't already signed up, I highly encourage you to do so. NAS protocols","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4046s"},{"start_seconds":4053,"text":"uh Kaito leaderboard is live and there are monthly rewards for the top yappers.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4053s"},{"start_seconds":4060,"text":"If you haven't already signed up, go do it now. start yapping about Nia and start trending and uh moving up the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4060s"},{"start_seconds":4070,"text":"ranks. Next one up, NIA has lately upgraded the chain","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4070s"},{"start_seconds":4076,"text":"signatures tech. So now you're able to move as it's freely between Solana, Ton,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4076s"},{"start_seconds":4084,"text":"Sui, Aptus and of course entirely enabled by NIA","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4084s"},{"start_seconds":4092,"text":"and controlled by a single NIA account.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4092s"},{"start_seconds":4097,"text":"Cointelegraph announced recently that there's a Bitwise ETF being filed for uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4097s"},{"start_seconds":4105,"text":"in Delaware. Not sure what to do about that information. Next up, we have Krenx, who","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4105s"},{"start_seconds":4114,"text":"just released the Krenx node uh 2.5. And Kren is a distributed orchestration","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4114s"},{"start_seconds":4121,"text":"layer on edge devices, which means you can leverage the power of your own computer to provide AI services and get","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4121s"},{"start_seconds":4129,"text":"rewarded for it. Unlike traditional AI relying on massive cloud infrastructure, Krenx runs entirely on the collective","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4129s"},{"start_seconds":4136,"text":"power of community-owned devices. So your contribution directly fuels the network. And Krenex uses a trustless","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4136s"},{"start_seconds":4143,"text":"protocol to manage AI tasks without the need for traditional validators.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4143s"},{"start_seconds":4148,"text":"Instead, it in incentivizes node operators like you with proof of meaningful work. I really encourage you to check it out and read more about uh","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4148s"},{"start_seconds":4156,"text":"what Krenics is all about doing. It's super cool.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4156s"},{"start_seconds":4161,"text":"It's been mentioned a few times. The mind share agent uh was launched prior uh this month and you","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4161s"},{"start_seconds":4168,"text":"know basically the idea is if if your tra what if your trading strategy was not driven by charts but by conversation. So the minder index tracks","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4168s"},{"start_seconds":4176,"text":"what the crypto community is actually talking about on social media and then it makes trades based on that all autonomously and all on chain. And it's","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4176s"},{"start_seconds":4183,"text":"been built with shade agents. And these AI powered bots live in trusted execution environments for secure offchain computation. So every action is","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4183s"},{"start_seconds":4191,"text":"verified on chain by a smart contract ensuring full transparency and zero trust assumptions. So it's not just a bot. It's actually a new trading primit","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4191s"},{"start_seconds":4200,"text":"primitive. Pretty cool. Check it out. If you didn't notice, there was a recent interview with Ilia on the AIC","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4200s"},{"start_seconds":4208,"text":"crypto pod. and where I he describes how NIA's architecture addresses the scalability, privacy and interoperability and coordination needs","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4208s"},{"start_seconds":4216,"text":"of an agentic internet where AI agents autonomously execute complex tasks on behalf of human users. Each core","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4216s"},{"start_seconds":4224,"text":"component of Neo's techst is an enabler of this vision forming a cohesive and powerful platform for AI innovation,","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4224s"},{"start_seconds":4231,"text":"ownership and AI agents. So if you haven't already listened to the interview, I highly recommend it. It will provide you with a clear understanding where AI, the most","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4231s"},{"start_seconds":4240,"text":"powerful technology developed to this day, is heading and why crypto, specifically near also, is the rails enabling a truly autonomous future that","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4240s"},{"start_seconds":4248,"text":"acts in your best interest. If you have the time, when you're done watching this, head over to the Coinbased Machine Learning and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4248s"},{"start_seconds":4256,"text":"Blockchain Research Summit 2025, where Ilia will share his road map to a user-owned AI model and unpack why developers, founders, businesses, and","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4256s"},{"start_seconds":4265,"text":"users alike will benefit from a future powered by blockchain and AI. He is presenting among other prominent people","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4265s"},{"start_seconds":4272,"text":"in the space, and it's a great opportunity to get to know much more about what Near is all about.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4272s"},{"start_seconds":4280,"text":"Lastly, I want to give a huge shout out to Cameron and the AI team. If you haven't already tuned in to the weekly shift stream with Cameron, give it a","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4280s"},{"start_seconds":4289,"text":"watch. This is where the alpha is. Last week, we hit episode 10. So, huge shout out to Cameron for highlighting all the","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4289s"},{"start_seconds":4296,"text":"good AI stuff being shipped on NIA week after week. And of course, a huge shout out to all the projects building on","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4296s"},{"start_seconds":4304,"text":"NIA. Keep pushing it. Thanks for watching everyone. The future is near and is not waiting.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4304s"},{"start_seconds":4312,"text":"What you saw wasn't theory. It was execution. NIA is not pitching ideas.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4312s"},{"start_seconds":4316,"text":"It's shipping infrastructure for AI, for agents, for the next era of the internet. In a world where intelligence is abundant, coordination is the new","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4316s"},{"start_seconds":4325,"text":"alpha. And near is where coordination scales. This community is grinding, building, and showing the world what's possible. You're early, but more importantly, you're very essential.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4325s"},{"start_seconds":4336,"text":"Shout out to every dev, founder, and community contributor pushing the vision forward. NIA isn't just a protocol. It's","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4336s"},{"start_seconds":4343,"text":"a movement for a userowned internet. As always, none of what was just presented is financial advice. Do your own","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4343s"},{"start_seconds":4350,"text":"research and use your own judgment. But if you're paying attention, you know where the signal is. Subscribe to Neoe to stay in the loop. And if you're","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4350s"},{"start_seconds":4358,"text":"building something amazing, this stage is yours. Do not hesitate to hit us up.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4358s"},{"start_seconds":4363,"text":"See you next month. Keep building. Stay AI and remember the future coordinates on near. See you next month everyone.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4363s"},{"start_seconds":4372,"text":"Bye.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4372s"},{"start_seconds":4376,"text":"Thanks for watching. Truly open AI is near. Follow near protocol. Subscribe to Near Week.","url":"https://www.youtube.com/watch?v=NLfm26bfJ8w&t=4376s"}],"youtube_url":"https://youtube.com/watch?v=NLfm26bfJ8w","url":"https://near-pedia.xyz/videos/NLfm26bfJ8w"}