What Is ChainGPT (CGPT)? The Blockchain-Powered AI Product Suite
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What Is ChainGPT (CGPT)? The Blockchain-Powered AI Product Suite

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4 months ago

ChainGPT leverages blockchain for a range of AI solutions including chatbots, NFT and smart contract generators.

What Is ChainGPT (CGPT)? The Blockchain-Powered AI Product Suite

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TL;DR

  • ChainGPT leverages blockchain for a range of AI solutions including chatbots, NFT and smart contract generators. It aims to democratize access to blockchain technology and AI through its various tools.
  • At the platform’s core is a suite of custom AI models, which are constantly trained on extensive crypto/blockchain data collected from various sources.
  • ChainGPT’s main tools include a crypto chatbot, NFT art generator, smart contract auditor and generator, and AI-generated news.
  • Products range from free-to-use to premium access — requiring users to pay pay-per-prompt or stake CGPT tokens for diamond tier status.
  • The CGPT token facilitates ecosystem participation, unlocking DAO membership and premium app access among other benefits.

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What Is ChainGPT?

Launched in April 2023, ChainGPT uses blockchain technology to power a suite of AI solutions, including a chatbot, NFT generator, smart contract generator and more.

At the heart of the platform is a collection of powerful AI models that are specifically designed to democratize the power of blockchain technology through an array of tools and services. The model was trained on a large crypto/blockchain data set and is being applied to various use cases.

As of writing, ChainGPT uses a combination of four large language models (LLMs) and two text-to-image models (TTIMs) to power its products.

The team behind the project is currently using these models to address inefficiencies in the blockchain space, improve user participation and remove barriers to entry via its various products.

The ChainGPT model is completely automated and is continuously scraping the internet for relevant crypto data, which it then filters and makes available to users through ChainGPT-powered products.

Which Products Does ChainGPT Offer?

ChainGPT is a suite of AI-enabled products. Most ChainGPT products can be used for free, but premium features can be accessed on a pay-per-prompt (PPP) plan or by staking CGPT tokens and obtaining diamond tier status.

As of writing, ChainGPT has several services up and running.

  • ChainGPT Chat Bot: The ChainGPT Chat Bot is designed to adapt to a wide range of situations requiring text input. It serves as an autonomous, intelligent general assistant that can be used to aggregate market data, interact with blockchains and parse crypto-related information.
  • AI NFT Generator: As its name suggests, the NFT art generator uses AI to turn user prompts into unique works of art that are tokenized on the blockchain as NFTs. This can be used to generate an entire NFT collection in seconds.
  • Ask Crypto People: The Ask Crypto People feature provides a chatbot that impersonates famous crypto individuals, such as Vitalik Buterin or Justin Sun. These mimics can be conversed with and will reply in the style of the impersonated individual(s).
  • AI-Generated News: This feature provides a regular flow of AI-generated news about the latest happenings in the crypto space. Designed to be concise, informative and on-topic.
  • Smart Contract Auditor (Premium): For those building smart contracts, ChainGPT provides a simple audit tool that helps developers easily spot potential issues with their contracts before opening them for public use.
  • Smart Contract Generator (Premium): This tool allows users to easily create powerful smart contracts using a simple text-based prompt. This might include NFTs, decentralized exchanges (DEXs), trading contracts and more.

In addition, the team is currently developing an AI Trading Assistant — which, as its name suggests, will use artificial intelligence to help users make better trading decisions.

What Makes ChainGPT Unique?

ChainGPT is built to democratize access to AI products and services.

Its unique ecosystem is centered around the ChainGPT token ($CGPT) which facilitates access to its AI model and participation in its DAO.
Token stakers can access the DAO system for proposal casting and voting. Various staking and farming opportunities are provided to $CGPT holders. Staking allows holders to lock their tokens in exchange for AI model access, while farming rewards users for providing liquidity to certain pools.
ChainGPT also offers a token launchpad, known as ChainGPT Pad. Users who opt to stake their CGPT tokens can participate in early-stage token sales of new crypto projects. To date, according to the official site, ChainGPT Pad has launched six IDO projects, achieving an average all-time high ROI of 9x — while boasting a refund policy for underperforming projects.

Beyond this, ChainGPT further breaks down barriers to entry to its products by providing a prompt marketplace. As its name suggests, this is a two-sided marketplace connecting individuals or businesses in need of generative ideas with prompt engineers who create them. In this marketplace, prompts can be bought and sold by third parties, thereby providing a platform for the trading of generative prompts.

ChainGPT also offers a variety of B2B offerings, including a launchpad white-label solution and API access to its tools. Third parties can use these to bootstrap their own offerings and deliver ChainGPT’s AI-powered solutions to their audiences.

The platform was also recently awarded a BNB Chain grant, helping to support the growth of its products and reduce barriers to entry for its users.

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What Is the CGPT Token?

The ChainGPT (CGPT) token is designed to provide utility to holders and reward participants in the ChainGPT ecosystem.

The utility of the CGPT token is constantly evolving and expanding, but current uses include the following:

  • ChainGPT Pad Access: Users can access ChainGPT Pad and its benefits by staking $CGPT tokens. Once staked, users accumulate tier points, granting them one of four tiers — each with greater access to opportunities based on the amount and duration of tokens staked.
  • Premium Apps: Those that stake enough CGPT can access premium apps for free, without needing to follow the typical pay-per-use policy.
  • Staking: Staking is crucial in ChainGPT's economic architecture, offering priority access to AI model tools, particularly at the diamond tier. By locking tokens for a predetermined period, users also earn a compounding yield on their CGPT.
  • DAO Participation: CGPT token stakers unlock membership to the ChainGPT DAO, through which they can help determine the platform's growth and development via on-chain governance.
  • Pay-Per-Prompt Feature Access: Some ChainGPT tools require users to pay for access in the form of a small amount of CGPT for each prompt submitted. Alternatively, users can unlock unrestricted access to ChainGPT tools by opting for the freemium plan.
The CGPT token is currently deployed on BNB Chain (BSC) and Ethereum. It is currently trading on several prominent exchange platforms including centralized exchanges like KuCoin, Bybit, Gate.io and Poloniex, and DEXes like Uniswap v3 and PancakeSwap.

$CGPT Tokenomics

The ChainGPT tokenomics is structured to control the supply and distribution of $CGPT tokens. Initially, as per the official site, it had a market cap of $215,111 and a fully diluted market cap of $8,000,000.
The token sale was divided into private and public rounds with varying price points and discounts, totaling a raise of $2.032 million from 31.15% of the supply. Distribution includes allocations for liquidity, team and different sale stages, each with specified vesting periods and cliffs.

These mechanics ensure a balanced, gradual distribution to support the ecosystem's growth and sustainability.

$CGPT is uncommon among utility tokens in that it also benefits from a burning mechanism, which acts to gradually reduce the amount of $CGPT in circulation.

With every token transaction taking place in the ChainGPT ecosystem, a fraction of the CGPT spent is burned. The amount varies by product but can range from 1% (from the ChainGPT Pad raised amount) to 100% (prompt marketplace fees).

The token currently has a market capitalization of $7.7 million, classing it as a micro-cap digital asset.

What’s Next for ChainGPT?

The ChainGPT ecosystem is still developing. Though several products are already live, there is an extensive roadmap ahead with major feature launches scheduled for Q4 2023 and beyond.

Per the official roadmap, some of the more anticipated developments include the launch of a text-to-image AI model, integration of Chainlink's CCIP technology, and the ChainGPT mobile app release.
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