May 25, 2024

Giza Raises $3 Million for AI Integration on Starknet

Giza, a firm dedicated to merging artificial intelligence (AI) with blockchains, has secured $3 million in a pre-seed round led by CoinFund in July 2023. This funding aims to facilitate the deployment of AI agents on Ethereum’s layer-2 blockchain, Starknet.

These agents are poised to autonomously execute on-chain activities, including yield optimization and portfolio reallocation, to enhance user experience and returns.

AI Agents to Revolutionize On-Chain Activities

Renç Korzay, co-founder of Giza, announced plans to deploy AI agents on Starknet by the end of June.

These agents will initially focus on yield aggregation, identifying high-return opportunities across various yield avenues.

Subsequent releases will see the agents evolve into robo-advisors, assisting users in optimizing portfolio allocations based on their risk profiles.

Ensuring Trust and Security

During the beta phase, Giza will meticulously audit and approve agent strategies to ensure the highest level of security.

Future iterations will integrate the Giza Protocol, offering cryptographic and cryptoeconomic mechanisms to establish trust-minimized exchanges between developers and users.

A chart showing Starknet’s active users over a three-month period. Reveals a notable surge in activity during March, coinciding with a token airdrop event. Source: Starkscan

Additionally, AI agents will leverage Zero-Knowledge Scalable Transparent Argument of Knowledge and zero-knowledge proofs (ZK-proofs) for enhanced security and privacy.

AI Integration: Potential Impact and Concerns

While AI-backed smart contracts hold the promise of streamlining blockchain operations, concerns regarding their implementation persist.

Ethereum co-founder Vitalik Buterin has cautioned developers about the careful integration of AI, emphasizing its role in enhancing human understanding rather than enforcing smart contract rules.

Giza’s Vision for Web3

Giza envisions AI agents as the new application layer for Web3, transcending traditional blockchain boundaries.

These agents have the potential to revolutionize highly regulated sectors by reducing oversight costs and ensuring the validity of outputs through advanced AI models.

Future Outlook

With the deployment of AI agents on Starknet, Giza aims to pioneer a new era of decentralized finance (DeFi) and blockchain innovation. Emin Gün Sirer, founder of Ava Labs, anticipates that AI-backed smart contracts could onboard billions of new blockchain users, ushering in a transformative era for the digital economy.

Image by freepik

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