Orderly Network Launches AI Bounty Program with Google Cloud and Empyreal to Power the Future of Web3 Trading
SINGAPORE, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Web3 liquidity layer Orderly Network has announced a bounty program hosted in conjunction with Google Cloud and Empyreal. The campaign will reward developers building AI agents to trade autonomously on Orderly.
A step forward in uniting the powers of AI and DeFi, the bounty program will support Orderly’s goal of developing the first onchain derivatives platform capable of supporting AI agents. The creation of these agents by independent developers will enable automated transactions that make use of the latest advancements in AI and web3 technology.
Full details of the bounty program will be released at TOKEN2049 in Singapore on September 18-19. The program will commence immediately afterwards and is expected to run for several weeks. During this time, developers who enroll in the program and successfully create and deploy AI agents on Orderly will be eligible to receive a share of the prize pool. Each agent will be evaluated on participation across two categories - highest profitability and most innovative predictor - and if they meet the requirements, can qualify for prizes in both.
AI agents developed for use on Orderly are expected to be geared towards sophisticated traders initially and for developers seeking to create advanced trading applications. Orderly will subsequently support the development of AI agents that can be used by intermediate traders who will be able to participate in derivatives trading with no coding knowledge required.
Orderly Network uses Google Cloud technology to underpin its user-centric developer tools designed to lower the barriers to entry in DeFi space. Orderly Network’s efforts focus on developing off-chain components of DeFi infrastructure, addressing critical challenges related to self-custody and transparency.
The AI bounty program is the next step in this collaboration. Leveraging Google Cloud’s understanding of the web3 sector and advanced AI technologies, the initiative aims to onboard web2 developers to participate in the program, with the transition to web3 development being made easy by campaign partner Empyreal, who is providing their SDK.
Arjun Arora, Orderly Network COO, said: “It’s been a year since Orderly Network and Google Cloud began the collaboration, focused on driving the mainstream adoption of DeFi. Looking ahead, we believe that AI innovation will be pivotal in revolutionizing on-chain trading. Orderly’s bounty program empowers AI developers to create groundbreaking tools that will redefine the on-chain experience. This initiative invites both Web2 and Web3 developers to build autonomous agents utilizing diverse data sources, bridging the gap between today’s potential and the future of DeFi.”
Rishi Ramchandani, Head of Web3 APAC, Google Cloud, said: “Our work with Orderly builds on our mission to empower Web3 developers with secure cloud and AI technology to scale their applications. We look forward to welcoming more developers to build AI agents using our technology.”
Johnny, Founder and Lead Developer, Empyreal, said: “We’re excited for our SDK to be featured in this program with Orderly and Google Cloud. This will allow our trading kits to fuel new bots and AI agents, giving devs and traders a simpler process for deploying effective agents. Orderly is the ideal location for our SDK to be used for building the future of AI trading.”
AI agents are gaining traction within the crypto space but the technology is still in its infancy. Such agents specialize in automating tasks and interacting with multiple data sources, allowing traders to make more informed decisions. They have particular potential in the field of perps trading, where multiple data sources must be queried in order to make optimal decisions based on rapidly changing market conditions.
In addition to derivatives markets, AI agents have potential within such crypto sectors as prediction markets, staking, gaming, and DeFi. AI agents can retrieve data from on and offchain sources and use this information to execute transactions for payments, trading, cross-chain transfers, and much more.
The collaborative bounty program will incentivize developers to demonstrate their creativity and will pave the way for further innovations that empower traders to make smarter decisions while reducing information overload. In the process, they will form the backbone of an advanced derivatives trading framework on Orderly’s scalable web3 network and unlock new use cases that leverage the power of AI.
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Orderly Network is a cloud liquidity infrastructure designed to revolutionize web3 trading. Built on omnichain architecture, Orderly enables deep liquidity for any asset across multiple blockchains. Focused on a future of DeFi that’s open to all, Orderly empowers traders and developers alike.
Learn more at orderly.network For PR inquiries related to this release, please contact pr@orderly.network
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