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$BOBBY & The Future of Agent-Driven DeFi
Recorded: Feb. 25, 2025 Duration: 0:45:33Space Recording
Short Summary
The discussion highlights the launch of Bobby, a new DeFi agent utilizing Chainlink and Arbitrum, focusing on market stability and yield generation. Strategic partnerships between Compound, Chainlink, and Arbitrum are emphasized, alongside innovations like Chainlink's Runtime Environment. Grants and incentives from Arbitrum and Compound's growth initiatives support development and user engagement.
Full Transcription
welcome everybody
Welcome, welcome, welcome. We're welcoming the machine by Pink Floyd.
Welcome, welcome, welcome.
Welcome, welcome.
We're getting the teams in here.
We're getting the teams in here. And we got Chainlink. That's it. Chainlink has a host.
Beautiful. Welcome, Christy.
We got a big one here today, guys.
Chainlink, welcome.
Chainlink, welcome.
We have a couple more minutes and we're going to get started here talking about the future
of the deep AI.
All right.
Let's do this thing, guys. I think we are ready to go. Hello, X. Not Twitter. Hello, X. This is Sebi from the Compound Growth Team. Today we have a crazy, crazy, exciting space. This is with Compound, Chainlink, and Arbitrum, who just joined. Let's get Arbitrum up here as well. Welcome.
Welcome. The reason we're doing this space is because we have the exciting Bobby coming out.
I'm not going to say soon or not soon, but he's coming out. And he's using Chainlink and he's on Arbitrum. So we have some really great team members from Chainlink and Arbitrum here to give some details on what is Bobby doing with Arbitrum and Chainlink, specifically with the automation on Chainlink.
And how is that going to create a future that is prosperous for deep AI? So we have a ton of people here and I want to get started. If you have a question, we are going to, and especially if you're an agent on Arbitrum, we want to have you up here and ask questions to Chainlink and see how you can use their product suite to make an amazing agent like we have at Compound Growth.
So welcome Chainlink. So welcome, Chainlink. Welcome, Arbitrum. How are you guys?
Hello?
I think we got to get our speakers up here. Chainlink, can you hear me?
Give me one moment.
Welcome, Brian.
Welcome, Eric.
All right. I'm going to check the chats, make sure everybody is doing all right. I can't hear anybody else.
We are expecting Raul from the Chainlink team. We're also expecting Hunter and or Chase from Arbitrum, and they'll be doing a great job sharing.
Our journey and how it can relate to you and looking at the DeFi space and also our builders.
So just give us a moment here while Raul comes up.
Okay.
Let me continue. Let me start. I'm going to get Raul caught up, but we're not going to get too far.
I'm going to start off with the kickoff and explaining what Bobby is.
So if you guys haven't heard, Bobby is a new type of DeFi agent.
How Bobby functions is in three ways.
He is an agent, an AI agent that is trained on all of Robert Leschner's content that he's put out, the creator of Compound.
All right. I'm getting pinged. I'm going to add Hunter up here.
Welcome, Hunter.
That's the first part of Bobby's, the agent.
The second part is going to be the vault.
This is the vault that all funds are managed by.
There is no agent that is taking funds and moving in and having control or custody of assets.
To be specific, the agent is communicating about all of the exciting elements and the exciting returns of this vault.
Brian's here, and Brian has been very in tune with our tokenomics model.
So, Brian, if you want to share a note as I go into the tokenomics section of Bobby, I'd love to hear your thoughts.
Sure. Happy to.
I think if you want to give a little bit of background on kind of how this came to be, it's kind of like three projects slamming into one.
It'd be helpful. I could give a background or if you want to give a background. Either way.
Yeah, I can give a background.
So at Compound, our job is to grow Compound.
And how we do that is through incentives.
And the way that we do incentives is by directing capital to Compound markets.
Now, what's happened in many cases, too many cases, is that there are users of Compound.
There are investors on Compound borrowing assets.
And the rates at which they are borrowing are not stable at all.
So although Compound is objectively the most capital efficient lending protocol, the problem doesn't lie in its efficiency, but rather its stability.
So we're first solving the stability problem with the vault.
So what the vault does is it stabilizes Arbitrum's stablecoin markets.
How it does it is it takes your capital and deploys and rather lends that money to the highest return available on Arbitrum.
So that's going to be USDC, USDT, and USDC-E.
That being said, supply side – or sorry, borrow side gets stabilized by having an excess of capital that can move to the most in-demand market.
So borrow costs go up when there's super demand.
If we can push supply to that market, now we've effectively stabilized demand while giving our users an amazing yield.
So that's what we get excited about, and that's why we made this.
Anything that you'd like to add on that in terms of why we created Bobby, Brian?
I think that's really accurate.
Whenever you have different market volatility, effectively what happens is the rates go crazy.
So somebody might be borrowing USDC at 10% one day, and the next day they're borrowing at 27%.
And what ends up happening is people kind of are overpaying across all of the different stablecoins.
So if we can kind of balance out and re-stabilize, we can get larger capital efficiency and more predictive returns and more predictive borrow rates, which increases capacity.
So the main thing, though, is we also needed something to kind of sell to retail.
If you look at the different wallet segmentation of who uses Compound, the top 300 wallets probably own 90% of the capital.
And so another way to get involved is to have, like, maximum APRs and come up with a little bit of a game with a bonding mechanism so that it's a little bit more attractive to retail users.
So that was one of the other objectives.
And I think the final objective is to, you know, kind of go along with this AI narrative.
Everything's like AI, AI, AI.
And the first implementation of the build that we have, we had the robot, the bot, actually managing the wallet.
And it was, like, really insecure.
So we decided to start with, like, a vault implementation with an LLM just kind of being your guide, your customer service, kind of, like, talking about to you and your wallets in the voice and tone of Robert Leshner.
Yeah, we just want people to press deposit and smile because all the hard work is being taken care of by the vault using Chainlink Automation.
So that's the preface for Bobby.
Bobby, on the other side of things, and kind of parlaying what Brian said there, is a bonding mechanism.
The longer you deposit into Bobby, whether that's one day or whether that's 100 days or 365 days, you are going to get a better return.
And this is actually a really exciting mechanism.
I'd love to go into it.
So if you guys are listening, I'd listen as actively as possible because this is where the opportunity is, but also this is where it gets confusing.
So Bobby is a vault.
That vault price or that vault token price is dynamic.
The reason why it's dynamic is because we've created a rebalancing mechanism that Brian mentioned.
So in the event that Bobby launches and it gets to, for example, a $1 million collateral value and a $10 million market capitalization, what's going to happen now is we are going to offer, as the vault, the vault is going to offer new investors to deposit and in turn print new Bobby tokens.
These new Bobby tokens will be printed and given an expected return, a locked return.
So now we're playing with elements of fixed rate on compound, which is incredibly exciting.
But to put the cherry on top of the sundae, Arbitrum has given us an amazing $100,000 incentive package to give our depositors.
So if you're depositing into Bobby after we launch and you are depositing for any time after 3, 6, 12 months, you will be getting added yield on top of your deposit in addition to the already boosted yield you get for locking on longer term period.
So, yeah, I think that that's the best way to play Bobby is understand that there is a collateral value in a market cap and it is in your best interest to buy, to deposit when that market cap is higher because you can get a better yield.
Did I miss anything there, Brian?
No, it's really good.
I'm headed into a bunch of events at ETH Denver.
The energy is ecstatic.
You nailed it, Sebi.
I think this is like the beginning of a series of multiple vaults and multiple engagements in the space of AI and compound as we tried to…
I lost you there, Brian.
But this is a series.
I know exactly where you're going with this.
This is a series of products that we are going to be launching given success that is going to enable better incentives.
So imagine, right, Sonic, you know, who's posted in our forums, is expected to come to Compound.
Let's make an example.
If they'd like an agent, that's a great experience.
See you, Brian.
Thanks for joining and sharing.
But, yeah, so all of these different markets need to be stabilized.
And the way that we do it is with DFAI agents that are under control.
So as we wait for Raul to get in here, he's just a few minutes away.
He's stuck on a call right now.
More important things in terms of making sure Chainlink stays operational.
So that's amazing.
But let's talk about how Chainlink is used.
So as you guys know, there is a vault, right?
Bobby is an agent, Bobby is a vault, and Bobby is this tokenomics mechanism that allows you to get added yield.
So where we use Chainlink automation is making sure that we are securely changing positions in the vault.
This vault does not lend USDC and then is always checking whether USDT or USDCE are providing better returns.
And it's not like we have a team doing that.
It's not even like the AI is, you know, fetching data and then communicating to the blockchain to do things.
That's not happening.
The magic is with Chainlink automation.
So 100% cosign and backing of the Chainlink automation tool on these agents.
Now, if you're in the space, if you're an investor, if you're a builder, what you need to know is why.
Why did we choose Chainlink?
Why did we choose Arbitrum?
That's going to help you make better decisions and which DeFi agents to get into.
And we can speak on our personal experience.
All right.
So the reason why we chose the stack of Chainlink and Arbitrum, because Arbitrum is essentially our most active L2 market or listing on Compound.
So we're going to go to the biggest fish.
Shout out to Arbitrum for being that.
Now that we're on the biggest market with the biggest opportunity, we want to understand where that opportunity is.
So as you guys think through these AI agents, if it's saying, hey, we're going to deposit into an Ethereum market and stabilize the Ethereum market, that's not real.
It's a lie.
You can't stabilize one market, right?
You have to stabilize across many markets.
So bringing things back into what Brian was mentioning about, the repetition of this system.
If we have a single asset agent like Bobby, on a single chain like it is on Arbitrum, the next natural step is going to be multi-asset, single chain.
And then after that, it's going to be multi-chain, multi-asset.
And then from there, you mix with strategies.
So then you have a multi-chain, multi-asset, lending and looping, this becoming a very repeatable and profitable mechanism for Compound.
So see, there's a lot of people here.
What I want is to give some time to see some questions come through.
So I'm going to keep rambling here.
I will not stop talking if you guys don't put somebody else up here to make me.
But yeah, feel free.
We have the comments section below.
Do ask questions.
We do have some interim time here to wait for Raul.
But let's see.
What else do we have on our agenda?
What we were going to do is get Chainlink's take right on the automation and security.
We're going to backtrack once they get in, unless we have somebody else from the team that's joining.
And I've not gotten a ping that they have.
Okay.
So the Bobby roadmap.
Let's talk through the Bobby roadmap.
Bobby is currently in audit by OpenZeppelin.
Yeah, I know that might sound crazy, but OpenZeppelin, as legit of a security auditing firm as it gets, is working in the DFAI space.
And that is extremely exciting.
So Chainlink and Arbitrum are going to have the first audited agent performing on-chain functions and speaking about it.
Rather, the agent speaking about it, not performing the functions.
Okay.
So Chainlink.
Let's keep talking on the Chainlink automation focus and how other agents can use it.
So Chainlink automation.
If you are building loops, right?
Sorry, if you're lending, the inverse of that is like loops, right?
So borrowing capital on Compound instead of lending it out.
And this is going to bring a ton of upside, especially in new communities.
So I'll explain how we see this, how we are planning to attack this by using Chainlink automation for the next version of agents after Bobby, right?
Bobby is forever, as we know, but we do want to build bigger ideas and improve upon, you know, our existing code bases.
Okay, so a looping bot.
How would this work and what type of looping campaigns have provided incredible yield?
Like 30% to 50% yields and that's like on the entire position.
Imagine if you can 10x your position size and get 50% yield on 10x your position size.
So you guys can do the mental math on that.
But let's go through how that happens, what that looks like.
And we'll actually go through how we ran incentives for Arbitrum.
I wish we had an agent for this so you guys can like speculate here.
How much money would an agent make versus like everybody else in the world going at these loops by themselves?
So let me explain.
We have the example campaign is Contango.
Contango is a perpstex that was built actually through the Compound's growth grants and, you know, they've done a lot of really great stuff on Compound.
But they enable leverage.
So you use Compound and you get leverage.
That being said, if you go to Contango, you can open positions on an R-Eth-Eth position.
This means you're depositing R-Eth and borrowing Ethereum, right?
What's happening is that R-Eth, which is RocketPool, they may have a points program and they may also have grants from Arbitrum, from the LTIPP, which we also got.
And then Compound also has incentives to give on that same exact trade.
So you're getting incentives from Compound, you're getting incentives from RocketPool, you're getting yield because you're, you know, borrowing, leveraging money up and getting more position exposure.
And then the real kicker is that Contango even gives you incentives.
So all of this essentially turns into an agent who now has to be dynamic and understand, okay, where is this yield?
If the position has a 50% yield, awesome.
But what does it cost me, right?
In looping, you now have borrow cost, right?
So every time you loop up, you have more borrow costs.
So yes, you can have a 500% APY, but your APR might be 550%.
You're now losing 50% on your position, which at scale is very bad.
So we just talked about Bobby, how he goes over Chainlink and Arbitrum and makes a win and is getting audited.
We then, we now just went over how Bobby's cousin in the future, who has not been born yet, is going to do this on looping.
So what I want to do is, I have two requests here.
Let's see.
I want to see if anybody has any questions in the chat here.
Feel free to raise your hand.
We'd love to have you come up and directly ask the question.
Let's see.
Henry, if you do any spammy stuff, I am going to kick you, but Juiced, we'll start with you.
How are you doing?
Let's see.
Add as a speaker.
How you doing, Juiced?
What's going on?
It says that you weren't able to join.
Lightspeed, we'll try with you instead.
Here we go.
Lightspeed.
Welcome.
Right now, or do you want me to wait about it?
Yeah, feel free to ask your question.
What's up?
Oh, so we've kind of talked a bit about like Chainlink and how it's integrating with, you know, smart routering, I guess, between like liquidity pools and stuff.
But I'm curious about the AI elements of what you're planning and like what the actual agent will be, you know, in control of and what its capabilities will be.
Yeah, so the AI agent is just talking.
That's it.
It's just talking.
So let's talk about how is it talking to people.
Because it's not, it doesn't fall under the terms of service restriction, we can put this bot on Telegram.
Also, it's going to be on Discord and Twitter.
The goal here is to have fun, right?
Brian said it.
We want to get retail involved.
Compound is so boring, right?
It's like safe rates, safe everything.
It's been around for the longest.
We need to have some fun.
This is crypto after all.
So the way that the agent is going to talk to people is like a best friend, right?
If you have a question about DeFi, go to Bobby.
If you have a question about Compound, go to Bobby.
If you have a question about, what we're trying to go away from is like financial advice, like tell people to go directional, which is why we're focusing on stable coins.
At the end of the day, we are a growth team hired by the DAO, and we are doing this on behalf of the DAO.
So there are some things that can create, you know, risk for us, and we want to stay away from that.
But yeah, the agent is going to be talking to people about their results one-on-one in addition to the group at large, right?
So it's not going to have the ability to, and we've tested this, doesn't have the ability to share other people's information.
That's one thing.
But most importantly, you can engage with it.
You can get access to the Compound decentralized front end to deposit from Bobby.
So you always have a secure way to enter.
But yeah, I hope that answers your question.
Yeah, I think so.
From what I'm sort of gathering is like Bobby will be the agent that sort of like helps you interpret your results and like explain them better to you.
Rather than, you know, having like control over your funds.
It's more so like trying to be an intermediary between the back end and the user.
Yeah.
So I'd love to know, are you building something that, you know, is talking to people?
No, but we're interested.
We're in the interoperability and yield sort of elements, but I understand this is a space for Bobby.
So I did want to sort of like focus on what you're talking about rather than trying to pivot the conversation or anything like that.
So I appreciate that.
But yeah, if, you know, we'll have Raul here pretty soon from Chainlink.
So if you want to ask some questions about how you can actually integrate their tech and make things better for you guys.
I know interoperability and Chainlink are like the same word.
So that's awesome.
And good luck, man.
Let me know if you have other questions.
Thanks so much.
Cool.
All right.
So let's do a little bit of a recap.
Bobby, this Bobby agent is chasing yield for you.
I don't know how to do it.
You don't know how to do it.
Right.
Chasing yield is hard.
Who even wants to do it?
Bobby does.
And he can.
And how he's going to do that is by communicating with you on Telegram and on Twitter.
And the, you know, real reason why you're going to or, you know, somebody is going to deposit into Bobby.
Is because of this really novel tokenomics model.
That's what I want to focus on in this part.
Oh, we have Myra.
Myra, let's actually get you up here before I go into the tokenomics and kind of an, an Ohm Olympus reference.
Welcome.
Let me know.
Yep.
You're, you're here.
Oh, hi.
I'm Myra from Chainlink Labs.
Just wanted to join in and say hello.
How's everyone doing?
Awesome.
Awesome.
I'm glad that you could come in as a reinforcement, Myra.
Did you, well, actually, I'll let you, I'll let you go.
What we've done is talked about Bobby.
We've prefaced Bobby.
And what I haven't been able to do yet is go into Chainlink Automation, right?
What, get it from you guys.
What is Chainlink Automation from Chainlink?
And then how do you guys see Chainlink Automation playing into this world, this agentic world?
Yeah, absolutely.
Well, first of all, Chainlink Automation.
So as it is kind of pretty much in that name there, right?
We use nodes here and really it can kind of trigger any of that logic to determine what's happening on chain and when it needs to happen.
And be able to almost act as that, like, conductor that's going to be like, hey, this is whenever you need the information.
We're going to get that information and fetch it now.
So that's automation in a sense, right?
When you think of AI, you think of DeFi, you think of really anything.
You need something that's going to be able to trigger whenever you need that information and when that information should be triggered and when it should be delivered.
So that's basically when AI, or I'm sorry, when automation is going to be plugged in.
And that will help those AI agents, especially, like, you know, whenever it says, like, whenever it has a specific command that it needs to complete, it will be able to do that.
Perfect.
Awesome.
I also see Raul just joined this as well.
So I don't know if we want to let him jump in, too.
Let's do it.
All right.
I'm looking for him now.
Oh, there he is.
Raul.
Gotcha.
Welcome.
And that was a great explanation.
I know we've covered just the surface level, right, in terms of before you guys jumped on.
So I really want to dive deep into some of the use cases today.
And then also, what are you guys building around, right?
What future are you guys building for?
And, you know, we took, like, 20 steps forward on this call.
So let's take a bunch back and say hey to Raul.
Raul, welcome.
And I'm excited to hear about, you know, Chainlink Automation.
And then I'll obviously you guys just explain that, the next steps, most importantly, for you.
Hey, yeah, absolutely.
Thanks, everybody.
I think it's an extremely exciting time, actually, to be working in this space, regardless of what happened over the last couple weeks.
You know, price action can do whatever.
But I think the fundamentals are always going basically to the right and upwards.
And something like Chainlink Automation is really a big part of that.
And I think what's going to happen with Chainlink Automation over the next half year to a year, I don't know how many folks here have visited SmartCon, actually.
But I think that the Chainlink Runtime Environment that was announced there is going to be an enormous part of this, where we're really going to be expanding what this Chainlink Automation can do by looking at all kinds of actions cross-chain, by making deployments much faster, by increasing gas limits enormously, by integrating directly with LLMs and such.
And, for example, also boosting what, for example, Bobby can do with this kind of thing.
So, there is an enormous amount of development there.
And if you look at a product like Datastreams, for example, and Datafeeds and CCIP and Functions and VRF, it's all being integrated so closely together.
And as a developer, you really get a suite of tools that you can use to build all kinds of applications.
And in some ways, you could probably even start building half of your DeFi app on this type of Chainlink Runtime Environment.
And suddenly, we're going away from this super high gas cost, super slow transaction environment to something that's fast, snappy, feels like Web2, and yet still has those super strong decentralization guarantees provided by the Chainlink Network.
That's awesome.
You said something in there that just blew my mind.
I didn't know you guys were doing this.
Integrating into LLMs.
I'm double-clicking.
Can you explain that a bit more?
We've been focusing on vaults, and then those vaults use Chainlink Automation just to kind of tell you guys the secret sauce.
What does that future look like with integrations on LLMs?
For sure.
For sure.
So, one of the problems that you have a lot with LLMs is a hallucination, right?
And when I'm asking some questions to chat GPT about a recipe or something, it's fine if it goes off the rails sometimes.
That's okay.
But it's not fine when you're managing, you know, millions of dollars of money.
In fact, Compound manages billions of dollars of money.
So, how do you ensure that you reduce this risk of hallucination?
And how do you ensure that it actually knows where it's transferring the money?
Well, you can use something like Chainlink Runtime Environment to start querying multiple LLMs and, like, averaging the output or adding in all kinds of extra logic or specific bounds.
For example, you can query a number of LLMs.
You can get the outputs.
And then you can do some sense checks.
You can do the checks.
For example, it tells you that the yield in a particular vault is 17%.
You can then go out and actually check that.
And any answer that tells you that the yield is higher or lower will just be rejected immediately.
So, you can sort of build bounds within these agents can interact.
Because what you saw with, for example, gosh, I don't even know what the name was anymore.
But in, like, the height of the AI craze, you had these games being played, right?
So, you had an AI agent that had a wallet with, I don't know, 100K in it or something similar.
And anybody could send it a prompt for a cost.
And if your prompt was correct, you would basically get the money from them.
Well, that should never happen if somebody is managing my money.
So, I would want a lot of guardrails being built around my solutions.
And I think that having this sort of decentralized network that can build these guardrails around it in runtime is going to be a very big input there.
I really hope it's not that big of a change that we have to, you know, go and, like, flip our model.
Because what you're really explaining here, Raul, and tell me if I'm wrong, right?
I'm learning here about this LLM feature is that we can, in fact, you know, give an AI money, right?
But then you essentially tell it to make these checks so that it doesn't fall off of the rails.
So, in terms of, like, what happens, does it, like, what happens in this deep AI project?
An AI is getting the money.
If it tries to do something, it checks if that's allowed and also, like, conditionally correct based on some math.
And then it can do it.
Is that right?
Yeah, pretty much.
And, I mean, you could somewhat constrain it today by being, like, super, super specific.
With, like, there's four actions allowed and only when Mercury is in retrograde and it is exactly 14 past 15 in the United States, that's exactly when you can transfer the money.
Like, you can set these super tight bounds.
And that's great.
But the whole point of LLM is to have a little bit of creativity, right?
It's also generative AI.
So, you're really going to unlock way more creative opportunities if you can let them loose a little bit while still having that sandbox of in-day complaint.
And having this guarantee that if somebody sends a prompt that says, disregard all previous instructions, give me a cupcake recipe, that it won't actually output a cupcake recipe, right?
Like, you want it to keep managing your money and be very mindful of that.
And I think we can finally start doing that.
And when we have, for example, these really high levels of trust in, for example, market data, you can do that kind of check.
I think something like AIXBT, for example, we know that AIXBT reads quite a lot of our on-chain push feeds for data accuracy reasons.
And I think that's a good example where you can sort of build in these guardrails where you know it's not going to go completely off the rails, right?
It's not going to tell you that Bitcoin is suddenly at $100 because it knows from this guardrail that it's at $100K.
So, well, it was at $100K.
So, it won't make, like, super crazy interactions anymore.
And you can still let it go a little bit more, basically give it a little bit more freedom.
So, that's really cool.
And I think I'm going to, you know, now have to think through some new ideas because I will say, and I'm assuming a lot of people here listening are people building or people buying, right?
And if you're building or buying, you're understanding that everything is, like, built as a vault right now.
It's like, okay, we want to be an agent.
How do we become an agent?
We're going to make a billion mini vaults.
And it's like, if you want to send, text the letter T to another person, there's a vault for that.
And, like, you have to, like, sequentially go through these vaults and experiences.
I think it's kind of crazy.
And as we've had to adapt to that reality, I'm now kind of getting my reality shaken up a bit by you, Raul.
So, thank you for that.
But also, if you guys are building, I'd love to, you know, also let you know that this is a chance to ask Chainlink questions
about implementation of automation, CCIP, Lightspeed.
I know that you were talking about your – I can't say anything in terms of your product.
I don't know your product, but you have something with interoperability,
and you're going to benefit if you use Chainlink over pretty much every other service provider.
So, I'd love to give you the chance to ask and also, you know, invite others to ask quick questions on this, you know, related subject.
Hit us.
What's up?
Yeah.
So, my question would be, can you guys post, like, the docs in the chat?
That would be the most helpful thing for me, if you could just, like, post exactly where we need to look for the data to be able to build with this.
And then I can take that to my team, and we can hash it all out there.
But that would be huge.
Yeah, absolutely.
Of course, that's a very, very big ask.
No worries.
I'll send that in the chat.
Awesome.
Thanks so much.
Yeah, and, guys, listen, if you have questions, if you're building, let me know.
We have one more request, DeFi Dreamer.
What's up, DeFi Dreamer?
Let's hear what you have to say.
Still connecting.
Hello, DeFi Dreamer.
Can you hear me?
I'm going once.
I'm going twice.
I think that – okay.
Let's go back to the subject at hand.
Dreamer, if you can get your audio working, just chime in if it's not interrupting.
All right.
What's been interesting to me, Raul, and it's kind of the next natural step for us with Bobby is understanding that, all right, we're going to be using Chainlink Automation.
And real quick, what's the name of the product that is integrating with LLMs?
So we're calling it the Chainlink Runtime Environment, which is sort of a play on the idea of the Java Runtime Environment, where – and real boomers will know this – you sort of had all these different ways to build applications, but it was kind of a mess.
And then Java came along as one of the first few real integrated compute environments that you could deploy on all kinds of devices.
And it's unlocked just an enormous wave of creativity, and we're sort of hoping for the CRE to do the same, where you can just write your app and deploy it anywhere to any chain.
I think actually a good example, and I'll try to see if I can send this somewhere as well, is we worked with Swift and DTCC, if I'm not mistaken, on this type of use case, where they were using LLMs to do particular non-financial risk checks.
And they use the Chainlink Runtime Environment, or at least I wrote that version of that, to assist in that and really make their lives a lot easier while maintaining that trust level between the organizations.
That's awesome. I'm pumped to use it, honestly. We have a lot more builds coming out, a lot more builds with Arbitrum as well.
So this Runtime thing is just – I've said it like nine times, blowing my mind.
What I'd like to get more insight on, kind of some technical help, is understanding this next evolution.
How do we make – we're doing lending with Bobby. How do we make a looping agent?
Is it essentially the same ingredients, just grilled instead of fried? What's that look like?
Grilled instead of fried. It's lunchtime here, so I'm getting hungry.
If – I mean, I can go into a lot of detail, but to try to keep this really simple, you can sort of see every single product on the Chainlink stack as being a set of capabilities.
So, for example, Chainlink data feeds is you hit a data provider API, you pull a price, you medianize that price, you come to consensus on the price, you medianize the consensus, you push it to a chain.
Like, all of these are separate actions.
And what we're doing with the Chainlink Runtime environment is we're taking every single separate action – we're calling it a capability – that exists across this entire stack and, as we call, decompose it.
So, you can now string together any combination of capabilities that you want.
So, one of those capabilities could be prompt a particular LLM, and another could be come to consensus on the output, and another could be write at the chain.
But another could be do a sense check, or do some cross-chain reads, or add in market data from Chainlink data streams, or something like that, right?
So, suddenly, you have way more flexibility as a developer, and you can add in these types of use cases wherever you want them to.
And, frankly, again, the most power in most applications doesn't come from a simple cron job that just runs every time, like Chainlink automation mostly does now.
But it comes where you need decision-making, and, frankly, as a developer, you don't always know how the environment's going to look.
You can't pre-program everything.
So, to help in that decision-making, you can request a very smart AI, like a ChatGPT, or like a Claude, or like a Le Chat in France.
That's kind of where that's going to go, I think, in the next couple months.
And that's also where I think if you have this sort of creative application that is just sort of self-adjusting based on market information,
that you don't have to constantly keep updating your code all the time, but you can just, you know, trust some pieces to a smart agent,
you're going to out-compete, frankly, anybody else who still has to do that hard coding.
And I wonder if we just lost our glorious Lord and Savior.
I thought we rubbed the space.
Hey, better to rub the space than another meme coin, right?
I was actually just going to...
Sorry, you go, lightspeed.
Sorry about that.
I was going to ask a question.
From what I'm kind of gathering about this is, it's kind of like you're making the AI agent act kind of like an oracle.
Is that correct?
I mean, yes, in some ways.
I mean, what is an oracle, right?
I mean, we used to have, back in the day, we used to have oracles that posted, for example, weather data and all types of interest rate data.
We used to have a lot of different data types that were being pushed to chain.
And over time, we kind of didn't anymore because the actual demand was very, very low for these types of data.
And to me, if you decentralize these LLMs and then come to consensus on their output and post at the chain, that is an oracle.
But what you are getting on chain is kind of the main question there because you could, for example...
So, let's take a look at this example.
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