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KuCoin x LKI
Recorded: June 14, 2024 Duration: 0:32:50Space Recording
Full Transcription
And join us for both of them.
The first one is, as mentioned with Laika, we'll be doing a deep dive with the CEO, who is Ashish.
Ashish, can you please just test the mic and introduce yourself?
Hi, Tim.
You can call me Ash also.
So, I hope my mic is doing fine.
And just to quickly introduce myself, I've spent about a decade and a half in the Web2 world before joining the world of cryptocurrencies.
I've spent time with companies like Microsoft, Bank of America.
And in my last assignment in Web2 world, I was heading HR and operations for Aviva India, managing more than 15,000 employees across 100 locations.
Amazing. So, you said, you know, you spent so much time in Web2.
Can you explain why you shifted to Web3 as well as Laika?
So, what makes it the first Web3 AI super app?
Okay. So, what made me shift to the Web3 world, because I spend a lot of time in finance world, both in Bank of America and Aviva Life Insurance,
there was obvious problems in the Web2 world when it comes to transparency and when it comes to, you know, what people see.
And when Web3 came along in my way, I realized that this is something that we need to do.
This is something we need to get into.
And I started experimenting with it.
Started with, you know, buying and selling ETH and BTC at the beginning.
Made some money, lost a lot of money during my first endeavor.
But in the season of 2020, 2021, I started investing in projects at least stages.
I started working with founders in many companies to help them build communities and marketing.
And quickly, I realized that there is a lot to be done in the Web3 space as well.
And I had deep interest in analytics myself.
And that's how the journey of Leica began in end of 2022, where we've officially or formally formulated this company.
So, coming to the second part of the question, what it makes the first Web3 super app?
So, Leica AI is an advanced AI assistant designed to provide users with comprehensive support and guidance in the world of crypto and blockchain technology.
And why we call ourselves a Web3 super app is because there are multiple features that we offer that makes it different.
First is, we are trying to decentralize the AI space right now.
And that's the first thing that we're trying to do to make a decentralized infrastructure for AI so that AI can operate in the space of cryptocurrencies
without the fear of, you know, security or sensitive assistance, or even, you know, ensuring data privacy.
We are also leveraging the blockchain platform to make sure that this can be done seamlessly.
We have done cross-platform integration onto like AI version 5 product,
which seamlessly integrate with different decentralized applications like, or blockchains.
They've partnered with companies like Arpitrum, Manta, Linea, Scroll, and multiple other blockchains to integrate data into a platform
so that people can, you know, interact with these platforms without going specifically anywhere.
And we provide like one place solution for everyone.
Third is, we are giving a personalized assistance in the form of Leica AI bot,
which can help you find insights, recommendations, and support, you know, tailored for each and every user-specific need.
So you don't have to look at open AIs and the chat GPTs of the world to find the information that you're looking at.
So that's what, this combination is what makes us the first Web3 AI super app,
where we are actually integrating the AI tech and the blockchain tech.
Yeah, so I want to drive this point home, right?
So integration of blockchain tech and AI tech, obviously, it's a very hot topic right now,
both AI, especially the integration of the two, and I think a lot of projects are trying to do something similar.
So can you specify and explain further how Leica AI integrates with blockchain technology?
And then also, at the same time, can you, just so that the audience has a better understanding,
can you explain your business model?
Is it a B2B platform?
Is it B2C?
Or what does it do exactly within the integration of these two technologies?
Sure, let me start with how are we integrating the blockchain tech and the AI tech.
So if you look at, in Web2 world, you look at chat GPTs or Bing Copilot,
what they have done is they have utilized the data that was already there in Web2,
which was indexed by the world of Googles and the Microsoft Binks, right?
And what OpenAI did was build algorithms that were reading this data,
which was already indexed in the Web2 world.
And then, obviously, the algorithm were very smart and very strong.
And then they started producing results for you,
which kind of changed the way how we look at the world in last, what, 12 to 18 months itself.
So when it comes to Web3, OpenAI chat GP doesn't work
because the data that is available on blockchains
is not usable by Googles of the world today.
Their crawlers cannot go into the blockchains and retrieve that data.
So what we started doing was we started working with these big blockchains
so that this data can be indexed in a format that AI can read.
And in this endeavor, in the last 12 to 15 months,
we started partnering with these companies
because if you directly go and fetch this data from the blockchain,
it is in a format that is completely unusable.
It is good for seeing, but it's not good for using it.
So we started partnering with companies like Arbitrum, Manta, BNB, Scroll, Linea,
so that we can retrieve this data directly from the data source.
And what we have done is we have integrated about 18 blockchains
from ETH ecosystem, which includes all your sidechains and your L2s.
And now we have indexed this data in a format so that our rags can read this data.
Or in simpler terms, our AI can read this data.
So now we are training our algorithms or our AI models or our ML models on this data.
So what eventually it will do is you can ask any questions related to blockchain data,
data specifically transactions, and AI will be able to answer those questions
just like in Web2World, OpenAI or ChatGPT can answer your questions, right?
So now coming to, we've done this hard work, we have integrated about 18 blockchains,
we've done about 2 million plus smart contracts, been integrated on our platform.
So what it results in, it can solve the problem of analytics, which is plaguing this industry.
We are too reliant on influencers to give us analysis on, you know,
reading the past and predicting the future about what's going to happen on the prices,
what's going to happen on, you know, how they foresee the market.
Imagine someone who's an institution or a big influencer with a big team,
sitting with 15 people, analyzing the market, and giving you insights about
one decision-making process in about a week.
And that takes a lot of time, right?
Because you have to work with Excel files and Google spreadsheets
to be able to analyze and predict in the future.
And that can go wrong, obviously.
Any prediction can go wrong.
Now imagine you can ask this question to our AI bot.
And imagine this question asking, hey, can you tell me the top 25 ETH holders,
what are they buying and selling apart from ETH?
Now that's a very powerful question, which you can figure out yourself
by going into the ETH blockchain and looking at these wallets.
But imagine getting the answer with a click of a button.
Now that is only possible if AI can read the blockchain data.
So what we have done is we have actually did the hard work of collecting this data,
indexing it in a format so AI can read it.
This will solve the analytics problem for most of the B2C consumers that we have.
So we have about 12,000 to 13,000 people who come in on our app every day
and use this app for various different features, which I'll come back to.
But the most powerful feature that we are building right now is this analytics feature
where you can actually talk to the blockchain directly using our AI bot.
And this is the problem that we want to solve through analytics,
where we don't have to give you analytics.
You create your own analytics by asking questions and find your own decision-making point,
which can help you engage better, whether it's investing, whether it's trading,
or whether you just want to learn more about the programs as well.
I hope that answers the question.
Yes, definitely.
I think that definitely clarifies your positioning within the space a little bit further.
But I'd like to just get some examples as well.
So, for example, in terms of real-world asset tokenization and management,
can you just give some examples of this and how it's used to enhance this further,
just so our audience has a clearer understanding?
Yeah, I think this has been a question for the last six months.
A lot of people have been asking about why RWA and AI are the only two categories
which are outperforming everything else.
And I think the answer is very obvious because AI and RWA are like a match made in heaven.
When you look at AI, what it can do in the Web2 world and what it can bring to Web3 world,
it's quite obvious.
When you look at the real-world assets and the tokenization,
there's a lot of risk assessment and management that needs to be done.
AI algorithms can analyze vast amount of data to assess and manage these risks associated with tokenized assets.
And by using ML models, AI can identify patterns and trends and potential risk in real time
and enabling more effective risk management strategies.
When you look at portfolio optimization, whether it's RWA portfolio or a completely crypto portfolio
or is a tokenized asset portfolio, AI-powered algorithms can actually optimize your investment
by analyzing the market data and looking at the risk factor, which completely is ignored
by a lot of retail investors in this space.
And this can help investors make data-driven decisions and maximize their return
and obviously minimize the results at the same time.
And obviously, we have touched upon the predictive analytics already.
AI can provide predictive insights into assets' performance if there's a good enough history behind it
by looking at the market trend and helping asset manager anticipate where the market is going to move
and make more informed decisions.
And then there, obviously, I don't go into detail of automated trading strategies,
fraud detection and security, compliance and integrity compliance.
All of this is required if RWA and the tokenized assets are going to come into the Web3 space
and that can only be solved by AI algorithms so that this can be done in real time
and what's happening outside the Web3 world as well.
And I think that's a few examples that I can give in which, you know,
AI and RWA is like a match made it heaven.
Got it.
And can you further describe some key features that really differentiate you guys?
I mean, I mentioned before that several other sort of competitors or similar projects
are in the space as well, doing similar things.
Can you explain how you guys really differentiate and sets you guys apart from other AI solutions?
Sure.
So I'll go feature by feature.
So one of the best features that we allow people to use is AI-enabled or Web3-enabled chatbot,
which assumes your identity as someone who is enthusiastic in Web3 space
and answers you questions without assuming that you are someone novice, right?
And the bot understands that you want to learn about the space
and you can give multiple answers,
which can really help you enhance your knowledge and information in the space.
Then we also offer a multi-chain swap,
where you can swap directly using our platform by connecting your any Web3 wallet.
It will give support about 400 plus Web3 wallet that you can connect with Leica extension
and then trade across 18 blockchains.
Just select a blockchain that you want to trade on.
You know, you select the asset and you can trade on.
And we are also working with Chainlink CCIP to introduce that very soon,
as soon as they have more assets on the platform.
So you can look at cross-chain swap as well.
And that will be integrated in version 6 as well, right?
Or, you know, we're trying to make sure that it comes along as soon as possible.
Apart from that, we also provide a token scanner
where you can actually look at any token that has been,
any smart contract that has been deployed half an hour back.
And we will provide you all the information that you need
before you decide whether you want to interact with that or not,
which includes things like, can the token be mintable, right?
Which includes, is the token smart contract being whitelisted or not?
Or the ownership has been given away or not?
So all of these things are required when you're like looking at trading meme coins,
when you are looking at a smart contract,
which is deployed, let's say, five hours back.
So all of this information becomes important for you,
for you to want to help yourself and not get rugged in the space
by someone just pulling a smart contract and attracting your liquidity.
We also introduced AI-based revoke contract.
So, you know, revoke contract is necessary for your wallets to revoke contract,
which can be harmful for you in the future.
But what we have done is our revoke feature gives you a probability
based on AI analysis to see this smart contract can really affect you negatively.
So you don't have to revoke every smart contract,
but you can come to a platform, check on your wallet
and see which are in the red category,
which is a higher probability of affecting you negatively
and revoke those contracts.
I think that's where we are trying to build AI capabilities,
not only limiting you to do action yourself,
but AI actually helping you saying what can be done.
Apart from that, we're also offering a wallet analysis feature
where you can analyze hundreds of wallets,
whether it's your own wallets or it's some whales wallet that you want to track.
And the unique feature is the dashboard that we offer.
It's quite seamless.
So, for example, if you have a wallet that you have interacted with multiple chains
on the ETH ecosystem,
it will give you balance across those chains in a very seamless dashboard.
And you have to see it for yourself to experience it,
that it gives you such a seamless experience to see
which chains you've interacted with,
where you have balances,
where you have tokens,
where you have NFTs,
and it's quite intuitive to use.
So, when you look at these features,
there are companies based only on the feature alone,
where we have integrated these multiple features into one platform.
And I think that's what sets us apart
from the competition in this space.
Back to you, Tim.
Awesome.
So, yeah.
Sorry.
Can you hear me?
Yes, I can.
Yeah, I can.
Yeah, I can.
All right.
So, I want to zoom out now.
I think we talked a lot about,
like, specifically the problems that you guys want to solve,
the tool that sets you guys apart from competition.
I'd like to just zoom out a bit
and ask you about how you see this space moving,
I guess, for the rest of the year,
as well as beyond.
What kind of future trends do you anticipate
in the intersection of AI and blockchain specifically?
Now, that's a loaded question, Tim.
There's so many thoughts that come to my mind
when I look at the future
and how AI and blockchain can interact.
But there's an example that I usually give
and I would like to give that
so that it's easily understandable
what my future position on this is.
I think the future of AI and the blockchain
is AI personalized agents or AI agents,
which is like you can assume that as your best friends
who knows everything about you
and who can do tasks for you
and they are much smarter than you.
So they're like a smart assistant slash friend
slash confidant that knows everything about you.
Now, imagine, you know, waking up
and wanting to go for a coffee.
You take up your phone and you walk down the street
and suddenly there's a cab that comes up,
a self-driven car, completely operated by AI.
You walk into that cab.
The cab knows where you need to go to buy your coffee
because your AI agent has told the car agent
where you need to go.
You get down.
Your AI agent pays the car through blockchain.
You walk into the coffee shop.
Your coffee is ready
because your AI agent anticipated
how much time it should take for you
to reach the coffee shop
and order the coffee for you.
You pick up the coffee.
Your AI agent has already paid the coffee,
paid for the coffee.
You come back,
get another cab,
come back home.
And all of this work is done
without you needing to interact with anyone
if you don't want to interact with anyone, right?
And this is only going to be possible
with both blockchain and AI agents
because the Web2 infrastructure for payments
will not allow such payments to happen.
Only blockchain can really, really make this happen.
Now, this is one example of what I think of.
But I've seen even more, you know,
bizarre examples in the Web2 world
where I saw a Web2 company,
dating company,
talking about AI agents
dating other AI agents
to figure out what's the best person
for you to meet and catch up, right?
And your AI agent can probably date 400 AI agents
and figure out who's the best person for you to meet
so you don't end up wasting, you know,
time before you reach and meet the person
who could be your future spouse
or girlfriend, boyfriend, whatever, right?
And this is happening today.
It's not happening in future.
And let me also give you some examples
of why AI is going to go so embedding in the deep.
Today, if you go to GitHub,
about 52% of all the code on GitHub is generated by AI.
And that is not future I'm talking about.
That is today.
Which basically means
AI is going to control
every aspect of code generation.
Your phones, your laptops,
your TVs are going to be controlled by AI.
So it's better for all of us
to start understanding AI today
so that you can anticipate,
adapt according to future environment
and then move in that direction seamlessly.
And these are some examples I can think of.
But, you know, with AI becoming smarter and smarter,
it can create use cases
which with limited intelligence,
people like us can't even think of today.
All right.
And I just have one or two final questions
from my end,
which is about your future plans.
So can you do a quick overview
or, I mean, not necessarily quick,
but just explain a little bit more
about the anticipated launch of v6
as well as your roadmap
for the next several years.
OK, so I'll start with my little bit
about my roadmap
and then I'll come to version six.
So in the near future,
which is next week
or within the next seven to 10 days,
we are launching Leica Staking
to help us decentralize
the AI database layer
and which will provide opportunity
for all our users
and token holders
to get some passive income.
We're also looking to launch
a Discord bot
and a Telegram bot
so that we can start
to analyze the market sentiment
both across the Discord servers
and the Telegram servers.
Right.
And this data can be fed directly back
to our platform
and AI can become even stronger.
We are also looking to get
a mobile app out
in Q3 slash Q4.
The work has started to happen
on that front as well
so that people who don't want
to use an extension
can use the app
on their mobile phone
and which obviously
is a very obvious
moment from for us
per se.
But the biggest version
that we are launching
in the last one and a half
is version six
of Leica AI
where the AI
is getting integrated
in the features
in a much more deeper level.
And to give you an example,
I did touch upon it,
but for example,
if you can ask the question like,
just say,
hey, I want to learn
about Ethereum,
right?
So our AI bot
will give you
multitude of information
which includes
some normal charts
about Ethereum price action.
It will include
about what people
are talking about
it on Twitter.
So we will be
scraping the data
on Twitter
and give you
direct information
from Twitter as well
saying, hey,
what people are talking
about it.
It will give you
some fundamentals
about Ethereum.
It will also give you
any other thing
that you want to know.
in terms of volume,
wallets,
and stuff like that.
So you can customize this
or you can just look
at what we will provide.
And both is possible.
And this will not only
be done for Ethereum.
It will be done
for top 500 tokens
in the space
to start with
as a beta testing.
And then obviously,
once the beta testing
is successful,
we will make it live
for all the tokens
that are available on,
let's say,
CoinGecko
for that matter.
And this is what
I think is going
to supercharge
the use of AI
in analytics.
And then obviously,
we are going to bring
AI into token scanner
as well,
where when you're
analyzing token,
not only will give you
information about the token,
but it will also give you
a score,
basis which you can anticipate
where the token
is going to move.
and obviously,
based on hundreds
and thousands
of smart contracting
analyzed
and how they have moved
with what they launched
and how they launched.
So it can kind of
predict the future.
So there are multiple features
that we are looking
to enhance
in the version 6
and also we are looking
to add on
to NFT analytics
just like we do
for smart contracts.
There will be
a lot of features
for NFT analytics
for NFT lovers
as well in this platform.
So this is the version 6.
Apart from that,
now we've also started
working with different L1s.
So we've recently partnered
with Near Ecosystem as well
to bring more L1s
in the ecosystem
because right now
we are kind of limited
to ETH ecosystem,
but we want to bring
more L1s in the ecosystem
as well so that
there is something
or else for everyone
to come and use this app.
So there are so many features
for people to utilize
and I'm sure
once you land on the app,
you will find something
or the other
which you want to come back
and use daily.
And that's why we have
so many,
you know,
people who come back
and use this app
and I think our retention rate
probably best in the Web3 world
when it comes to people
coming back and using the app,
if not the best.
And I think this is going to,
version 6 is going to supercharge
this usage for us as well.
And I'm looking forward
to it as well.
I'm not pushing my devs too hard,
but I hope they'll deliver this
between June and July.
Awesome.
And then Ash,
if you don't mind me asking,
this is obviously
not financial advice,
but can you also
go over the token itself,
LKI and its utility
or reasons for holding it?
Oh, absolutely.
It's not financial advice
for anyone
if you want to hold
the token or not.
So what we've done is
we've built
two use cases
or business cases for us.
One is B2C,
which I've explained in detail.
The other is B2B,
where all the data
that we have integrated,
we will be making it open source
for other companies to use it.
And we will be charging
a fee for people
like renting a SDK key
or API keys
to these companies
because we've done
the hard yards
in terms of collecting
this data and indexing it.
Now, we don't want to
keep it for ourselves.
We want to give it to people
so that they can also
make better use cases
or bigger use cases
if they like.
So all of these payments
can be done through any coin,
USDT, USDC, whatever.
But if they use Liga coin
for these payments,
there will be a heavy discount.
So we will be heavily
incentivizing Liga token usage
from B2B payments.
From B2C sides,
for now,
the app is completely free to use.
But once we have integrated
AI bot across all features,
there will be a couple of features
which will only be utilized
if you hold certain amount
of Liga tokens in your wallet
or you pay a monthly subscription fee.
And the subscription fee,
again, will be heavily incentivized
to be utilized in Liga tokens
or you can hold those tokens
on your wallet.
So this is how we are building
the utility.
And obviously,
we are bringing in staking as well,
which can help us
decentralize the data layer.
And obviously,
once we decentralize the data
and if you are staking
and you are helping it,
there will be a pass-on
of the income
that will come through
this renting,
this API case,
and SD case case.
So there is multiple use cases
that we have built
which can be done
with Liga token.
Again,
I'm saying it can be done
with other tokens,
but it will be heavily incentivized
to utilize Liga token.
And once you have token
in circulation
for the economy
in B2B and B2C
within our ecosystem,
you know,
the price usually follows,
but we don't know
where the price will go.
Amazing.
And Ash,
I think we have time
for one or two
audience member questions
if you don't mind.
Absolutely.
All right.
Give me one second.
Yeah.
And if you're in the audience
and you have any questions
for Ash,
just request us to speak.
So first up,
we have Crypto Kevin.
Crypto Kevin,
please go ahead
and unmute yourself
and ask your question.
Hello, sir.
Can you hear me?
Yes, yes, we can.
Ask my question.
Please do.
Please ask Kevin.
My question,
so many projects
just want to talk
about long time vision
and mission.
But what are you
your short time goals?
What are you focusing
on right now?
Thank you, sir.
Thank you for question,
Kevin.
I think I'll break it
in short term
and long term goals.
So our short term goal
is to ensure
that our AI capabilities
are integrated
into all our features.
we've already done
we've already done that
into the bot
and the revoke feature.
Now we want to bring
that into
wallet analysis feature
and you can directly
chat to the wallet
and ask questions like,
hey,
can you tell me
how have you grown
this wallet
from let's say
500k to $5 million
in the last six months?
So what strategies
this wallet has used?
So it's not necessarily
talking to the wallet owner
but talking to the wallet itself
and understanding
those strategies
which can be utilized
for you.
So the short term focus
is getting version 6 out
with as many features
as we can
and in terms of
long term goals
we are looking to provide
this app
in multiple formats.
So we are looking to get
Discord bot,
Telegram bot,
a mobile app
and even a web app
like a website app
for people.
Right now we are
a Chrome extension
so we want to expand
that ecosystem
into anything
that users want.
It could be a website,
it could be an app,
it could be a phone app
or it could be a Discord bot
for that matter.
So these are our
short term and long term
goals for this year.
I hope that answers
your question.
Awesome.
Awesome.
So Ash,
we have I think
time for one more.
Cypher, please
go ahead and ask your question.
All right.
Thank you very much
for bringing me up
to speak.
I just want to
ask Leica
to you have an
ambassador program
currently
that we can join.
Thanks, Cypher.
You almost
kind of picked
my brain.
So we do plan
to launch
an ambassador program
very soon
okay,
Alpha Reveal,
we will be launching
it very soon
so you will be able
to join if you like.
I can't give you
a specific date
when we're doing it.
That's with the
operations team
but yes,
we have an ambassador program
and we will be launching
it very soon.
Thanks, Cypher.
Awesome.
So Ash,
just a final question
for you
before we wrap things up.
Do you have
any final thoughts
or where people
can find out
more information
about Leica
or anything else
you'd like to share
with the KuCoin community
before we end the spaces?
Please go ahead.
Sure.
Thank you so much.
So my request
to all of you
is to go follow us
on Twitter
and we have
a link tree there.
You can follow us
on Discord,
Telegram,
wherever you like
but Twitter
seems to be
the best source
of information
where we provide
a lot of spaces
that we've done
and a lot of partnerships
that we've done
but if you want
to talk to us,
come to our Telegram group,
come to our Discord group
and you'll find
much more information
but my request
to all of you
is to download the app,
use it for yourself.
It's very intuitive
in nature.
I'm 100% sure
if you download it,
you'll love it
and that's how
we can help
each other
grow further.
So yeah,
that's it.
Tim?
Amazing.
Thank you again.
Best of luck
with everything
and hope to have you
back on in the near future
to hear all about
your updates
and the progress
that you guys have made.
So appreciate it
and everyone listening,
we have our next space
in half an hour.
Please do join that
as well if you can.
Thanks, guys.
Thanks, Tim.
Thank you so much
for hosting us.
It was awesome
talking to all of you.
Host
KuCoin
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KuCoin Token
