NEW YORK--(BUSINESS WIRE)--Upshot, which has been building AI-powered DeFi infrastructure for the past two years, announces their new Machine Intelligence Network. This network leverages a novel "Proof of Alpha" reward mechanism to merge AI with DeFi and enable anyone to contribute and monetize their financial insights.
The Upshot Machine Intelligence Network represents the culmination of years of research and development. The network connects machine learning models to incentivize participants to share alpha around financial markets in the form of predictive models. The network’s Proof of Alpha mechanism scores the best alpha and rewards contributors based on the accuracy of their insights.
"Our mission is to create efficient financial markets for anything," said Nick Emmons, CEO of Upshot. "The Upshot MIN furthers that vision by allowing anyone to benefit from their unique perspectives on any market."
Highlights of the Upshot Machine Intelligence Network
- AI x DeFi: The Upshot MIN is set to finally bring AI to DeFi in a decentralized and meaningful way.
- zkML Integration: AI outputs are made trustless through a new zkML tool called a zkPredictor, made in collaboration with and powered by a novel zkSNARK proof system built by Modulus Labs.
- Innovative Applications: Applications like Ditto, an AI-powered yield protocol for DeFi and NFTs, among others, are being developed on the network.
- Accessible Financial Intelligence: The Upshot MIN lowers the barrier to entry for financial market participation, allowing a wider range of users to access and utilize advanced machine learning tools for market analysis and predictions.
Proof of Alpha
Proof of Alpha is the backbone of the Upshot MIN, ensuring fair rewards for network participants contributing valuable alpha such as pricing data, predictive features, and machine learning models. This system rewards participants based on the quality and accuracy of their contributions.
The Upshot Machine Intelligence Network opens myriad possibilities for DeFi applications, from creating manipulation-resistant index funds to offering advanced AI-powered strategies for tokenized vaults and liquidity protocols. This network is not just a technological advancement but also a step towards democratizing markets.
Upshot is a decentralized AI platform enabling efficient financial markets for anything. They combine their experience building novel crowdsourcing infrastructure and industry-leading ML models to create a scalable, self-improving network of collective machine intelligence. They’re backed by some of the biggest funds in the industry. Upshot is based in New York City, though their team hails from around the world.