An Ethereum Developer Uses AI to Deploy New ERC-20 Tokens
An anonymous Ethereum developer has created code that enables artificial intelligence (AI) tools to deploy new ERC-20 tokens. The developer combined OpenAI’s ChatGPT API with their own script to allow a chatbot to automatically create digital coins. The developer explained that the code instructs the chatbot to form an ERC20 token using Open Zeppelin standards, an open-source framework for building secure smart contracts on Ethereum. The token name and other parameters are passed in by values given by the chatbot in the code’s constructor.
Creating AstroPepeX (APX)
Using the tool, the developer has already launched a public token called AstroPepeX (APX), which is available for trading on Uniswap. The chatbot generates token names based on real data from the top ten thousand tokens traded on Uniswap and cross-references them with market-cap data from CoinMarketCap and CoinGecko. Other test runs of the chatbot produced coins named “Inuverse” and “QuantumPepe,” referencing popular memecoins and ideas like Dogecoin, Pepe, and the metaverse.
GPT’s Creativity
The developer found it amusing to see how the chatbot displayed creativity in generating names. They mentioned that GPT appeared to have a mind of its own during the process. The developer clarified that more complex parameters for token creation are possible with their tool, including introducing special configurations with customized solidity code for features like mintability, tax rates, or governance parameters.
Automated Token Creation
Croissant, the anonymous developer, designed their tool to involve minimal human intervention. After generating a name and description for the coin, ChatGPT uses DALL-E, another OpenAI tool, to create an appropriate icon for the coin. Ownership of any contract generated by ChatGPT is immediately revoked, and all token supply is added to Uniswap liquidity upon creation, along with 2 Ether (ETH).
Inspired by Turbo
The developer’s project was inspired by Turbo, a memecoin generated using ChatGPT. However, Turbo involved more manual steps and less automation compared to Croissant’s tool. Croissant plans to release a user interface for their code, making it accessible for non-technical experts to launch tokens on Ethereum using ChatGPT.
Hot Take: The Future of AI-Generated Tokens
This innovative use of AI in token creation showcases the potential for automation in the cryptocurrency space. With tools like ChatGPT and DALL-E, developers can streamline the process of generating new tokens and leverage AI’s creativity. While there are concerns about the quality and legitimacy of AI-generated tokens, this development highlights the growing intersection between artificial intelligence and blockchain technology. As more user-friendly interfaces are developed, we can expect a surge in AI-generated tokens and an increase in experimentation within the crypto community.
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