DeFAI - AI agents on blockchain networks
The term DeFAI is currently circulating on social media. You’re probably wondering, what is DeFAI? DeFAI is the combination of DeFi (decentralized finance) and AI (artificial intelligence).
The details
- DeFi is already transforming financial services by eliminating intermediaries, such as banks. However, the complexity can be overwhelming for beginners. AI can process large amounts of data and make intelligent decisions, which could simplify DeFi processes.
- DeFAI uses AI agents to automate tasks such as trading and yield optimization. An AI agent could, for example, automatically adjust a portfolio to market changes, reducing the need for manual monitoring.
- In addition, DeFAI can simplify on-chain tasks, making DeFi more user-friendly. Autonomous AI agents can analyze real-time data (e.g., news or social media posts) and execute strategies with minimal human intervention.
- Although DeFAI offers significant benefits, this industry is still in its early stages. There are challenges like biased data, transparency issues, and trust barriers.
Our thoughts
DeFAI uses AI agents on blockchain networks to optimize and automate financial tasks. Automation makes DeFi more efficient and allows beginners to participate without mastering complex protocols. However, it’s important to note that AI agents can make mistakes, which can lead to financial risks.
More information: 🔗 Ledger
Magic AI tool of the week
This week’s Magic AI tool is ElevenLabs*, a platform that uses advanced AI to generate realistic speech. Now, ElevenLabs offers an MCP server.
An MCP server is like an API designed for LLMs. It provides a large language model with context to access the full ElevenLabs AI audio platform.
So, you can build Conversational AI voice agents that transcribe speech and generate audio, all with simple API calls.
Step-by-Step Guide:
- Sign up for free at ElevenLabs.io* (15 minutes of Conversational AI)
- Generate your API key: Navigate to your account settings and generate a new API key.
- Clone the official ElevenLabs MCP server GitHub repo.
- Follow the installation guide in the README.
- Start the server with the provided CLI command. The server provides endpoints for audio generation, speech transcription, and Conversational AI.
- Connect the MCP server to your AI application and build impressive LLM apps. That’s it. 🎉🎉
Hand-picked articles
- Run GenAI Models locally with Docker Model Runner
- Portfolio Allocation - How to Analyze a Stock Portfolio Using Python
- Mastering the Capital Asset Pricing Model (CAPM) Using Python
😀 Do you enjoy our content? If so, why not support us with a small financial contribution? This helps us fund our work to ensure we can stick around long-term.
