What if DeFi Just… Worked

Captions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.

1. 0:00

   I guess the premise of this is a um crypto is supposed to be the financial rails of the future and clearly as of today it is not um it's supposed to give people back ownership of their money their financial rails what they can do with it um but somewhere along the the way we made a tradeoff and the tradeoff we made was decentralization for chaos and uh it's going to be no surprise to anyone that my solution of

2. 0:32

   the for defi in this talk is going to be Ai and agents um if you're more of an active listener go ahead and scan the QR code and play with some of the dozens of Agents live today um but to start we're going to step back and we're going to step back to talk about Automation and finance and what people expect to be able to do with their money because people don't want to actively manage their money they don't want to be

3. 0:58

   spending time every day tracking Investments making sure payments went out they want things to just work and in order for that to actually happen we don't need more uo UI we don't need better education that's ask asking people to come into crypto and learn and do more than they already do in in whatever fintech apps and products that they're using today so what does an execute ution

4. 1:30

   layer for crypto need to accomplish well it needs to act on behalf of users the way most fintech apps do today it needs to protect them in real time so send fraud alerts make sure people's accounts are protected not force everyone to have a ledger and and do all this crazy stuff it it needs to integrate seamlessly but of course it needs to stay decentralized so um we've been looking at agents for helping with this since

5. 2:01

   2023 um and the basic hypothesis at the time was text to transaction was going to help us do this it was going to help us enable people's grandparents or friends to start working with defi in a way that wasn't asking them to do more or learn something just use a product uh and obviously it's not easy but we've been building uh this now for over a year we have um taking the approach that many many folks have which

6. 2:32

   is a terminal with many agents and in a registry where people can go and start a conversation in this oh well the video might not work but in this video oh here we go we have a um a user who goes in has a conversation with the coin gecko agent to get ideas on trades and potential Investments they pull up some charts they get excited about virtual and then they just say you know what I want want some virtual in my account so they enable a swap and the agent

7. 3:04

   performs and builds the transaction asking them to sign from their wallet and then it's done they didn't need to learn about where they should go buy virtual they didn't need to have three daps or sites open at once it was all in the chat and there's a couple of other agents that work here there's a dow agent that lets you ask what are all the Dows I'm a part of proposals I want to vote on and so forth

8. 3:30

   there's a an agent that lets you launch a safe on BNB like there's a lot of cool stuff but we also realized that this is probably not the answer this is four people already doing the stuff and if we truly wanted to make an execution layer as seamless as possible we needed to provide tooling where it already was so am I going to be able to click next here no all right we'll let it run out but you can see these agents at

9. 4:01

   work but the premise that we came to was if we want agents to actually be onboarding users to enable them to forget about defi we have to go to where they're currently onboarding we know today people are using Unis Swap and products like that and telling people about their earnings but they're not realistically able to hear about Unis swap if you're a new user and start trading it requires a whole bunch of things so while we start

10. 4:29

    started with this registry approach we actually realized we needed to embed this into every dap that exists today and superpower in charge them to basically on board into any app without knowing crypto at all and our approach to that is embeddable chats so any dap today can embed agent chats directly into their product and choose from hundreds of different tools to create a micro assistant that's perfectly designed for the use case of the D my personal most exting use case

11. 5:00

    is dex's where people will be able to one on board to the Dex easily figure out how to connect wallets and accounts uh learn what's available on the decks bring in research tools and then have their accounts and trades passively managed for them and um we do have all of this public today if you want to embed the chat we had our uh first embedded chat a few weeks ago shout out to a growth mate on the near Network yeah and a uh we have our first

12. 5:32

    Dex embedded chat coming in the next few days hopefully fingers crossed um but I guess I'll leave you with this in order for us to bring the next 100 million people into crypto we can't ask them to learn things they don't want to learn or claim that there's better ux and education needed as has gone on at this conference now for the seven years that I've been a part of it we need to automate away as much as traditional fin

13. 5:59

    Finance does while preserving uh decentralization and autonomy for those who need it so if you want to build with us we're not doing this alone we have lots of model Partners we have lots of a um a data Partners uh we're partnering with more folks every day and if you want to embed agents into your dap to out compete those who aren't going to embed agents into their products let us

14. 6:25

    know and let's help you out thank you