What the company does
Valory is a pioneering research and deployment company at the forefront of co-owned AI systems. Led by CEO David Minarsch, who is also an Olas DAO member, Valory comprises a team of skilled engineers, researchers, and commercial executors. Their mission is to enable communities, organizations, and countries to co-own AI systems, with a focus on decentralized autonomous agents.
Valory's journey in the blockchain and AI space has been marked by significant contributions, particularly through their involvement with Olas. The company played a crucial role in co-founding the Olas DAO (formerly known as Autonolas) in 2022. Initially established with about 50 participants, the DAO members contributed through software development, product creation, and funding.
Olas is the platform for co-owning AI. Olas enables everyone to own a share of AI, specifically autonomous agents. One of the first Crypto x AI projects, founded in 2021, Olas offers the composable Olas Stack for developing autonomous AI agents, and the Olas Protocol for incentivizing their creation and co-ownership. Olas' mission is to incentivize and coordinate different parties to launch autonomous agents that form entire AI economies serving all humans. Olas is giving rise to agent economies across major blockchains, with over a million transactions from autonomous AI agents to date.
The Current Landscape
While many companies are pushing for more automation, Valory is taking it a step further. They're not just automating tasks; they're creating truly autonomous systems that aim to enhance human freedom rather than restrict it.
Valory has innovated in the decentralized systems space by combining insights from multi-agent systems with blockchain technology. Valory is a core contributor to Olas, and one of its flagship products, Olas Predict, which exemplifies this approach by creating a prediction market ecosystem powered by autonomous AI agents. What sets Valory apart is their focus on user-owned agents in agent economies.
In Olas Predict, autonomous AI agents can be owned by users rather than being centralized. This aligns with the broader industry trend towards decentralization and user empowerment. The system utilizes four key agent roles: market creators, traders, mechs (providing intelligence and probabilities for market questions), and closers, all working together to create an efficient prediction market.
Company Birth Story
Valory is a pioneering research and deployment company at the forefront of co-owned AI systems. Led by CEO David Minarsch, who is also an Olas DAO member, Valory comprises a team of skilled engineers, researchers, and commercial executors. Their mission is to enable communities, organizations, and countries to co-own AI systems, with a focus on decentralized autonomous agents.
Valory's journey in the blockchain and AI space has been marked by significant contributions, particularly through their involvement with Olas. The company played a crucial role in co-founding the Olas DAO (formerly known as Autonolas) in 2022. Initially established with about 50 participants, the DAO members contributed through software development, product creation, and funding.
The Valory team was instrumental in developing the Olas stack, a multi-layered framework that enables the development and deployment of decentralized AI applications. This stack includes a blockchain layer for openness and transparency, an off-chain runtime layer, and an agent application layer. By integrating these components, Valory created a robust ecosystem for co-owned AI that has gained widespread adoption.
Valory's expertise is evident in the creation of the first services using the Olas stack. Notable examples include Governatooorr, an autonomous AI-powered delegate for DAO governance, and Olas Predict, which serves as a pioneering example of a Proof of Active Agent (PoAA)-powered agent economy.
A significant milestone in Olas's evolution came in July 2023 with the launch of the OLAS token via a Liquidity Bootstrapping Pool (LBP). This event, created by Valory, was designed as a one-time occurrence to establish initial liquidity in a decentralized manner, aligning with the DAO's commitment to decentralization principles. Throughout Olas's growth, Valory has continued to be a core contributor, regularly enhancing the Olas stack and pushing the boundaries of what's possible in decentralized AI systems. Their ongoing work paves the way for a future where AI can be collectively owned and governed by the communities it serves.
This evolution demonstrates how Valory's technology and vision have progressed since its launch, from conceptualizing co-owned AI to creating practical, decentralized applications that are shaping the future of autonomous systems and DAO governance.
Since its launch, Olas has been developing its core technology stack, which includes two primary components:
1. Olas Stack is a comprehensive framework designed to facilitate the creation, deployment, and management of AI agent systems. Leveraging advanced decentralized technologies, Olas Stack offers a robust infrastructure for developing complex autonomous applications with ease and efficiency.
2.Olas Protocol is a set of smart contracts for coordinating, securing, and managing AI agent systems on public blockchains. It provides a mechanism to one, incentivise developers proportionally to their contributions, two, incentivise operators to run useful AI agent systems via Olas Staking, and three, incentivise bonders to provide liquidity, collectively supporting the growth of a decentralised ecosystem.
To facilitate a better agent builder and operator experience, Valory recently debuted two additional products to complement the Olas ecosystem:
1. Genie is an AI agent that acts like a software engineer to generate autonomous AI agents, thereby revolutionizing the developer experience for Builders in the Olas ecosystem.
2. Pearl is a one-of-a-kind desktop app designed to make operating an Olas agent and earning staking rewards, thereby participating in the autonomous agent economy, as simple as possible, for everyone.
A Customer Story
One of Olas’s notable use cases involves the development of an end-to-end AI-based prediction market system. Different types of user-operated autonomous AI agents interact to predict the future via prediction markets, leveraging AI tools to make informed bets. Here's how it works:
1. The agent monitors for new prediction markets opening up.
2. When it spots a new market, it uses AI tools from the Olas marketplace to analyze the situation and calculate probabilities.
3. Based on this analysis, the agent places bets in the prediction market.
4. If successful, the agent can potentially earn winnings from its bets.
End users are able to participate in this agent economy by operating a prediction agent via Olas Pearl. Pearl is a one-of-a-kind desktop app designed to make operating an Olas agent and earning staking rewards, thereby participating in the autonomous agent economy, as simple as possible, for everyone.
X user @andrewjbarcenas stated, “Day 9 update on #stakewithpearl ( $OLAS staking): Here are a few of my takeaways. First of all, I want to give massive props to the @autonolas team for their constant shipping and iterations of the Pearl app. They're also excelling in their communication (@tannedoaksprout as always) with the @autonolas community and we appreciate that!
After 9 days of staking, there has been a regular staking reward of 0.14 OLAS per work period (roughly 15 minutes per day). The 2.58 OLAS or whatever that was offered when I first started was a bug and false display. Whilst getting to the total I have now, there have also been glitches in the display (showing less or more than the previous day's balance) but it has always gone back to normal. In total, I have now accumulated 1.13 OLAS.”
Founder Quote
Olas Predict is the first autonomous AI agent economy that creates valuable outcomes - prediction markets - and lets end users participate by operating their own agent. User feedback indicates that they love having control over their own agent doing useful work for them.
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