Project Name: Morpheus | Project Type: Smart Agents — Artificial Intelligence (AI) | Ticker: $MOR | Cryptocurrency Rank: N/A | Market Cap: N/A | FDV: N/A | Circulating Supply: N/A | Max Supply: 42m
We’ve recently reviewed several AI projects, underscoring the growing focus on artificial intelligence and its expected significant influence in the forthcoming years. At the same time, there’s an increasing demand for open-source large language models (LLMs). Notably, these LLMs often lack essential features such as user-friendly interfaces and efficient management of user data. To address these shortcomings, the Smart Agent Protocol has been introduced.
It facilitates the management of local LLMs via Web3 wallets, enhancing the user experience and control.
With the autonomous AI market poised for substantial growth and numerous key players predicting that AI will play a key role in the mainstream adoption of cryptocurrency, Morpheus presents a challenge to the centralised AI sector with its innovative network of AI agents, offering a transparent and equitable launch strategy that positions it as a critical player in the future landscape.
MorpheusAI marks a significant advancement in combining AI with blockchain, particularly for Web3. It moves beyond traditional smart contracts, which are reactive, to utilise AI smart agents for proactive, real-time decision-making. This shift from basic automation to sophisticated, autonomous task management is powered by advancements in Large Language Models (LLMs), merging AI’s analytical capabilities with blockchain’s efficiency and security.
MorpheusAI not only enhances various sectors like service marketplaces and crypto gaming by enabling complex AI-driven tasks but also integrates seamlessly with Web3 technologies. It offers APIs, decentralised cloud services, and easy integration with crypto tools and DApps, aiming to make personal AI agents, or Smart Agents, widely accessible. These Smart Agents can interact with users’ wallets, DApps, and smart contracts, bridging the gap between traditional and blockchain technology.
By allowing natural language communication with Smart Agents and proposing a network supported by a token system to incentivize development and usage, MorpheusAI facilitates a user-friendly and innovative approach to AI in blockchain. It stands as an open-source alternative in a field dominated by closed-source models, providing a secure, efficient solution that enhances the blockchain ecosystem for developers and users alike.
Capital providers support the network by providing stETH, generating yield, and contributing to Protocol-owned Liquidity (PoL). This mechanism ensures liquidity for the ecosystem, rewarding capital providers with $MOR tokens proportional to their contributions.
Developers contribute code to the Morpheus Network, earning rewards based on their contributions’ value. This system encourages the development of specialised agents and tools, enhancing the platform’s capabilities and user experience.
Compute providers offer necessary resources for AI models, receiving compensation based on demand. This approach ensures efficient use of resources and rewards providers for their contributions to the network’s computational needs.
Community builders develop and provide user interfaces and developer tools, facilitating interaction with the Morpheus API. They are rewarded based on the fees generated by their contributions, promoting the development of a vibrant and supportive ecosystem.
$MOR serves as an on-chain accounting mechanism, facilitating transactions within the Morpheus network, such as:
Near-term: At Launch
Mid-term: Wider Circulation
Long-term: Deep Liquidity
To ensure longevity and ongoing incentive alignment, Morpheus adopts a “tail emission” strategy:
By ensuring that tail emissions are only a portion of the burned tokens, the total circulating supply of MOR will not exceed the hard cap of 42 million. In fact, because some tokens are burned and only partially replaced, the total supply of MOR could become increasingly scarce over time. This approach allows the Morpheus ecosystem to maintain a balance between incentivizing participants and ensuring the scarcity of MOR tokens.
The chart below shows how many $MOR tokens are available over time, starting from the first 5,833 days and extending from year 17 to year 256. It assumes that, on average, 25% of $MOR tokens are destroyed or “burned” during this time.
Olas (previously Autonolas) is at the forefront of the AI smart agents sector and is considered one of Morpheus’s main competitors. We’ve already discussed Autonolas in detail, comparing it with Morpheus and Fetch.ai, so I’ll just give you a brief overview here. Autonolas stands out for its blockchain flexibility, as it operates across multiple blockchain platforms, which boosts its adaptability and wider adoption. It specialises in creating and deploying autonomous agents for developers, dApps, and users, with a strong focus on shared governance and ownership.
On the other hand, Morpheus focuses on making AI and computing power as widely available as personal computers and smartphones. It emphasises giving individuals the ability to personally own and use AI agents and computing resources, going beyond AI to encompass a broader range of computing capabilities.
While these two projects are competing for market share, they actually have goals that complement each other. Autonolas focuses on the governance of autonomous agents across different blockchains, whereas Morpheus concentrates on providing personal access to AI and computing resources. This difference in focus suggests that there could be opportunities for mutual benefits and collaboration between the two.
In summary, Autonolas offers a blockchain-independent platform for the governance and co-ownership of autonomous agents, while Morpheus seeks to put AI and computing power directly into the hands of users.
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