An anonymous Ethereum developer has released code that he says instructs AI tools to deploy new ERC-20 tokens.
Twitter user @CroissantEth explained on Tuesday how he combined OpenAI's ChatGPT API with his own script to enable the chatbot to create real, digital coins automatically.
Open Zeppelin is an open-source platform for creating secure smart contracts, containing libraries of contracts written in solidity - Ethereum's programming language.
Croissant said that he has launched one public token using the tool : AstroPepeX, which is available for trading on Uniswap. The new memecoin has raked in $12.9 million in trading volume over the last 24 hours.
ChatGPT based the names on real data from the top ten thousands tokens traded on Uniswap and cross-referenced them with market-cap data from CoinMarketCap and CoinGecko.
Some of the bot's testnet runs generated coins titled and - other clear references to commonly known memecoins and ideas like Dogecoin, Pepe, and the metaverse.
After creating a name and description of the coin, ChatGPT fed both to DALL-E-another OpenAI tool for image generation - to create an appropriate icon for the coin.
Croissant designed his tool so that the ownership of any contract generated by ChatGPT will immediately be revoked and that all token supply after creation is added along with 2 Ether to Uniswap liquidity.
In May, a digital artist Rhett Mankind said he had given ChatGPT instructions to create a memecoin called TURBO, which went on to surpass a $50 million market cap. However, fewer elements of the token's creation-like its name, and the removal of ownership rights-were automated.
Croissant said his project was largely inspired by Turbo, but changed to involve even less human intervention.
Although Croissant's tokens have already been generated with help from Croissant's more tech-savvy followers, other tokens have already been generated.
He said that he has seen at least 20 derivative projects from scanning local blockchain contract deployments had several people reached out telling me they used the script successfully.