Decentralized Futures Proposal: Demand Abstraction AA Wallet and Trading Bot Based on Intent-centric and AI Agent

Empowered by the interoperability of Web3 and intelligent automation of AI agents, we are making an account abstraction (AA) wallet to enable a better new way of user interaction from Web2 based on Apps to Web3 based on the demand of users. Users can just express their needs and then directly get what they want without going through specific Apps by themselves in a fully natural, straightforward and convenient way. In order to do so, we will intelligently understand and analyze the need of users, match and combine different DApps to generate the optmial solutions which can best meet user demands. After getting confirmation from users, we will automatically execute the solution to operate crypto assets and run through different DApps for users to meet their demands. In this way, we can lower the threshold and complexity of on-chain operations, thus improving the efficiency and expereince of crypto users for the mass adoption of Web3.

Our project has been backed by the tech fund in HK, and enrolled into the Polkadot Blockchain Academy. We also previously won prizes and awards in several Hackathons like Arweave and Circle!

The problem we are trying to solve:
The current Web2 is based on Apps, which are isolated and closed. As a result, few super Apps become giant platforms and suppress other innovative and thriving small business to maximize their self-interests for centralization and monopoly. With the barriers among Apps, users have to go through each App by themselves to find and get what they need, which is extremely inconvenient and inefficient. Therefore, to enable users to directly meet their demands, we need Web3 to make Apps fully interconnected, interoperable, and composable with each other without barriers and isolation.

However, the threshold, complexity and difficulty of user interactions and operations in Web3 are still too high to make Web3 usable for the ordinary users. For instance, if users want to convert USDT stablecoin in Ethereum into ARB token on Arbitrum, they need to find a suitable cross-chain bridge, connect to their account, then transfer their USDT and gas fee from Ethereum to Arbitrum, and then find a suitable DEX to exchange USDT for ARB with gas fee. It’s so challenging, complicated, and troublesome for most users to understand and finish these steps by themselves. They have no way to simply express “I want to convert USDT into ARB”, and then directly get ARB without taking all those actions above by themselves. In order to do so, Web3 should support AI agent to intelligently analyze user demands and automatically run Apps to perform the corresponding operations in Apps for users, so users don’t need to manually do so by themselves.

Introduction of our project:
With account abstraction (AA) and AI agent, our wallet upgrades intent-centric to demand abstraction as the ultimate way of user interaction on Web3, which is more natural, straightforward, and efficient than the current Web2 interaction based on Apps.

With demand abstraction, users can directly express and meet their demands without going through specific accounts, DApps, and blockchains. After users specify their demands via user interface, text, or speech as inputs in our wallet, our underlying AI agents will intelligently understand and analyze what users need, generate the best solution schemes to meet the demands of users and match the DApps and chains according to the solution scheme. After users check and approve the solution scheme, their AA account will automatically execute the solution scheme including running the corresponding DApps and operating multiple crypto assets to make transactions for users, and finally get what users want as execution results back to them. In this way, users can directly get what they need easily.

Our demand abstraction solution is fully open and decentralized. Although we will make a wallet as a sample to demonstrate and validate our demand abstraction, the demand abstraction functionality is open to all wallets to call and use. The third-party agents in AI and bundlers in AA are fully permissionless and decentralized, opening to all nodes to run and compete. After getting the execution results from third-party agents and bundlers, users can self-verify their correctness via the smart contract of AA as validation like zero-knowledge proofs.

Our competitive edge:
Compared with the existing Web3 and AI projects without our demand abstracrtion, our demand abstraction is directly based on user demands rather than specific Apps or blockchains. Users just need to express what they want and we will take all the following steps and actions for them to meet their needs, so they can directly get what they want without going through the detailed process behind by themselves. In this way, we can attract and benefit more users to better use Web3 easily even if they can’t operate crypto assets and DeFi protocols on blockchain well.

There are also some products trying to directly meet the demands of users called intent-centric like Unibot and Anoma. Compared with these intent-centric projects, we further upgrade intent-centric to demand abstraction with AA and AI. Under the current intent-centric projects, users still need to know blockchain and Web3 well as they need to express very specific intentions like “buy and stake ETH in Lybra Finance.” However, new crypto users may not know ETH staking or Lybra Finance as they just want to trade and earn. Therefore with AA and AI, our demand abstraction allows users to just specify their demands like “I want to earn stable returns with low risks”, then we will analyze their demands and give the corresponding solution schemes like "buy and stake ETH in Lybra Finance”. After getting the approval of users, we will execute the solution scheme for users to meet their needs accordingly.

Benefit our project can bring to the Polkadot ecosystem:

One major obstacle to the mass adoption of Web3 is the high threshold and unfriendly experience when users interact with blockchain. The on-chain operations are still complicated, troublesome, and unfriendly especially for ordinary new users, impeding them from using DApps and exploring Web3 in the Polkadot ecosystem. Therefore we need to have a better way of Web3 interaction for users to directly meet their demands and omit the technical details of the underlying DApps and blockchains.

Therefore, our demand abstraction project can upgrade the wallets to make the usage of Web3 not just as good as Web2, but even better than Web2. Users can access and use Polkadot in a more easy, natural, efficient, and convenient way. By providing a simpler and friendlier Web3 user experience, our demand abstraction can greatly lower the threshold, complexity, and difficulty of user interactions on Polkadot blockchain to onboard more users for the mass adoption of Web3.

For more information:
Github: Smarter AA Wallet · GitHub

Feel free to contact us to ask any questions and welcome to join us:
Telegram: @smarteraawallet

1 Like

Thanks for sharing this wonderful proposal! The high threshold and complexity of on-chain operations are really big problems impeding more users into crypto. I think your project can really address this issue well for the mass adoption of Web3, so I will fully endorse it!