May 15, 2024
Web3
8
mins
Author:
0xScope

Introducing OpenScope: Bringing Event-Based AI Price Predictions to Crypto

Web3 AI company 0xScope, the pioneer in crypto AI solutions such as Scopechat and the 0xScope Web3 AI Data Layer, is proud to announce the launch of OpenScope, the first decentralized AI subnet for crypto event trading, in partnership with Commune AI.

The launch of OpenScope is one of the major steps that 0xScope has taken as part of its commitment to Web3 AI. In the near future, we intend to make our comprehensive Web3-focused AI training data open-source to everyone, starting with event-trading data.

OpenScope traces its origins from the Event Trading dashboard of 0xScope's AI-powered crypto trading assistant Scopechat. 0xScope envisions OpenScope as a community-led platform that will be instrumental in building the most accurate AI price prediction tool for crypto.

0xScope's event-trading data is now public and open-source as of May 15, the same day as OpenScope's testnet launch.

Meanwhile, the OpenScope mainnet will be live within the next week. We are committed to launching OpenScope, including Web3 AI data, for everyone, and we have more updates in store for you.

In light of this launch, we invite our community and the rest of the Web3 industry to participate as Miners and Validators in the OpenScope AI-powered event trading subnet. OpenScope comes with a reward system that pays dividends and incentives to contributors.

You can join the OpenScope testnet now at: https://open.0xscope.com

To access the OpenScope public token trading events data set, please go to:

- https://huggingface.co/0xscope (0xScope's space for uploading AI datasets and models.)

- https://huggingface.co/datasets/0xscope/web3-trading-analysis (Public dataset for training your crypto event trading models.)

- https://huggingface.co/datasets/0xscope/event_rules (0xScope event trading dataset rules and explanations.)

What is OpenScope?

At 0xScope, we believe in the potential of Scopechat's Event Trading feature as a powerful tool for a more effective crypto trading experience. And to take Event Trading to the next level, we aim to leverage AI technology to bring the best out of our Web3 AI Data Layer. Hence, we created OpenScope to showcase how 0xScope's comprehensive cryptocurrency event trading dataset can be leveraged by AI technology to develop innovations that combine the best of Web3 and machine learning.

We have built OpenScope in collaboration with Commune AI, a peer-to-peer incentivized coordination network that makes it possible for us to involve the 0xScope community and the bigger Web3 industry to help train advanced AI models for accurately predicting price movements of crypto tokens.

With the combination of the 0xScope Web3 AI Data Layer, Commune AI's network, and your participation in OpenScope, we can build the future of Web3 AI together.

What is Commune AI?

Commune AI is a peer-to-peer incentivized coordination network. Its protocol and market system allow Web3 AI projects like 0xScope to create incentive-driven coordination among the community. It is a fully community-driven AI project consisting of just code and contributors, without the hassle of bureaucracy, pre-mines, censorship, and others.

Commune AI runs peer-to-peer protocol and stake-based market system of Modules, or onchain identifiers that reside in a global namespace wrapped around an off-chain object. Modules can be anything that is computable behind an endpoint, from AI models, datasets, storage, and scrapers, to simply raw compute.

Modules are coordinated through a blockchain-based circular Stake-based economic mechanism. A Stake is mined by providing a subjective utility competitively to the Validator Stake, such as inference to a model. Stakeholders can utilize any set of programming languages and computing systems to create incentive landscapes according to their needs, granting access to generalized incentive programming proportional to their Stake.

This system allows for a versatile, parallel, highly competitive, and cooperative economy of Modules to emerge, that is available to Stakeholders to build an application and business ecosystem on top.

In OpenScope's case, participants can act as Miners or Validators (or both) in the subnet, and their relationships have been programmed into a Commune AI subnet dedicated to OpenScope. The contributions that Miners and Validators make on OpenScope will lead to significant rewards for participants, while also enhancing OpenScope in the process.

Becoming an OpenScope Miner

The OpenScope subnet thrives on the symbiotic relationship between Miners and validators. Miners utilize 0xScope's rich event data to train sophisticated AI models and generate trading orders based on real-time event inputs. The easiest way to be part of OpenScope is to become a Miner.

As an OpenScope Miner, you simply need to run a simple Python script to start sending trades and managing your simulated cryptocurrency portfolio. The performance of your portfolio will be used to evaluate your contribution to OpenScope.

As a Miner, you will be rewarded with Commune AI ($COMAI) tokens based on your contributions.

By being an OpenScope Miner, you will be encouraged to train your investment strategy model as much as possible, based on the event data set provided by 0xScope. Increase the value of your position to get the chance to earn higher rewards.

Becoming a Miner requires some basic AI and programming knowledge, but don’t worry, we have created a comprehensive guide on How to Become an OpenScope Miner.

Becoming an OpenScope Validator

In the OpenScope subnet, Validators continuously assess the performance of the models being run by Miners, assigning higher weights to the most successful Miners.

If you are a $COMAI token holder, you can consider launching a validator node by staking your tokens to the OpenScope subnet, or proxying your tokens to the 0xScope team or other validator nodes you trust. All of these methods can earn you generous rewards.

For more details, please consult this guide: Becoming an OpenScope Validator.

Conclusion: OpenScope Brings a Rewarding Experience for Helping 0xScope Build the Future of Web3 AI

With OpenScope, you can tap into the collective intelligence of a decentralized network, where the brightest minds in AI and crypto converge to create trading strategies that adapt to the ever-evolving market landscape.

The creation and continuous development of OpenScope will bring the following benefits to 0xScope and the crypto community at large:

  • You become a key builder in the future of decentralized Web3 AI. Your participation as an OpenScope Miner and/or Validator directly influences how accurate and effective our Event Trading solution will be, while also getting access to better AI tools for your crypto portfolio needs.

  • Your support for 0xScope's Web3 trading model & strategy will lead to better recommendations on 0xScope products and services. This will result in better crypto trading and data gathering experiences for everyone in the Web3 space, including you.

  • You can get $COMAI token rewards for your contribution, adding a reputable AI token to your current crypto portfolio and helping you achieve financial freedom by participating in the future of Web3 AI.

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