March 20th, 2024 DAO Call

Effect DAO Call Summary March 20th, 2024

• Jesse and Laurens discuss the latest updates to the effect.ai website, confirming the new rebranding to Effect AI.

  • Roadmap https://effect.ai/news/roadmap-2024

• Jesse discusses steady progress on the V2 system features which were outlined in the roadmap.

• V2 not quite demo ready just yet

• Laurens has created a draft proposal for establishing an EFX bridge to Solana.

  • https://dao.effect.network/proposals/154

  • Components in this implementation:

    • A Native EFX token will be created on Solana.

    • pTokens EFX on BSC can be bridged to Solana via Wormhole, creating Wormhole EFX. An LP with a big pool of Wormhole EFX and Sol Native EFX will be made by the foundation. Using this LP users can swap their Wormhole EFX for Native Sol EFX. Laurens discusses the security benefits of having a Native EFX token on Sol.

    • Aside from the Wormhole EFX / Native Sol EFX LP there will need to be another LP with either EFX/USDC or EFX/SOL. Foundation can provide most of the initial liquidity, while DAO can help with Farm rewards for any potential farm down the line.

    • It is expected arbitrage for the Wormhole EFX / Native SOL EFX pool will happen as there will be liquidity across all platforms so there is an incentive to keep the disparity minimal.

• Establishing the bridge first is necessary for moving other Effect AI components to Solana. The adding of these components will be discussed in more detail by the DAO after the release of V2 which needs to be prioritized first.

• Jesse discusses the various types of tasks expected after V2 launch. Working with projects to create useful datasets. No announcements specifically to whom. Jesse discusses other potential use-cases, such as analyzing data coming out of AI. Jesse discusses Chatbot Arena and how LLM's need to be benchmarked for performance. Incorporating worker evaluation can help provide better insight on how human-like an LLM is. When given two prompts by two different LLMs workers can choose which one provides the superior answer and a ranking system can be built from this.

• All proposals have passed. There will be more LP added to EOS/NFX, the Defibox Farm will be funded and the Hackathon USDT fund will start being built up slowly.