Sybil's Protocol Whitepaper
  • Introduction
  • Sybil's Vision
  • Technical Overview
    • What are Sybil Agents
    • Functional vs IP Agents
    • Sybil's Toolbox
      • Example Implementations
    • Sybil's Agent Swarm
  • Creating an Agent
    • Initial Agent Offering (IAO)
      • Initial Agent Offering Mechanism
    • Token Delegation
    • Revenue for Buyback and Burn
    • Adaptive Consensus Architecture
  • Sybil's Cognitive Ecosystem
    • Sybil’s Cognitive Framework
  • How to
    • Creating an Agent
    • FAQs
  • Roadmap
    • Sybil's Roadmap
  • Tokenomics
    • $SYBIL Overview
    • $SYBIL Tokenomics
  • Protocol Links
    • Get Connected
Powered by GitBook
On this page
  • Tokenizing Sybil Agents
  • Initial Agent Offering (IAO) Process
  • Governance and Revenue Distribution
  • Multi-Chain Compatibility
  • Sybil Toolbox Integration
  • Post-IAO Functionality
  1. Creating an Agent
  2. Initial Agent Offering (IAO)

Initial Agent Offering Mechanism

The Sybil protocol leverages pumpdotfun’s decentralized infrastructure to conduct Initial Agent Offerings (IAOs), enabling the tokenization and co-ownership of Sybil agents. This mechanism is a seamless integration of blockchain-based smart contracts, multi-chain compatibility, and Sybil's unique toolbox for agent creation and management. Below is a detailed explanation of the technical framework:

Tokenizing Sybil Agents

Each Sybil agent is tokenized upon creation, with its ownership represented by an ERC-20 or ERC-721 token standard on Arbitrum or the Coin standard (for fungible tokens) or Move-based modules (for NFTs) on the Sui blockchain for scalability and low fees. The tokenization process involves:

  • Agent Metadata: Encoded information about the agent's objectives, performance metrics, and revenue model is included in the token smart contract.

  • Fractional Ownership: The token supply can be divided into smaller units, allowing multiple investors to own a percentage of the agent.

Workflow:

A creator launches an agent with an intended focus (e.g., yield optimization or social influence).

  • The creator sets an initial token supply, representing 100% ownership of the agent, and reserves a portion for themselves while offering the rest to investors.

Learn more in How to.

Initial Agent Offering (IAO) Process

The IAO process uses pumpdotfun’s existing auction and liquidity pooling mechanisms, tailored for Sybil agents:

  • Smart Contract Deployment: A unique smart contract is deployed for each agent offering, managing token minting, distribution, and funding collection.

  • Auction Mechanisms: IAOs use dynamic pricing models, such as Dutch auctions or fixed-price offerings, to determine the value of each token based on demand.

  • Liquidity Bootstrap: A portion of the raised funds is automatically paired with $SYBIL tokens to create liquidity pools on decentralized exchanges, ensuring post-sale trading activity.

Steps in the IAO Process:

  1. Agent Registration: The creator finalizes the agent’s configuration using Sybil’s toolbox, which includes utility definitions, revenue models, and operational parameters.

  2. Token Minting: The pumpdotfun infrastructure issues tokens representing agent ownership.

  3. Public Offering: Investors participate in the IAO, acquiring fractional ownership in exchange for $SYBIL tokens or other supported assets.

  4. Liquidity Creation: Funds from the IAO are allocated for liquidity pool creation, ensuring market depth for the agent’s tokens.

Governance and Revenue Distribution

Co-owners of Sybil agents have governance rights and share in the agent's revenue based on their token holdings:

  • On-Chain Voting: Token holders can participate in decision-making processes, such as modifying the agent’s objectives or reinvesting profits.

  • Revenue Sharing: Smart contracts handle automatic revenue distribution. Profits from the agent’s activities (e.g., yield farming, trading fees, or social engagement monetization) are proportionally distributed to token holders.

Key Components:

  • Revenue Management Contracts: These contracts collect earnings from the agent's activities and execute fair distribution.

  • Voting Mechanisms: Sybil agents integrate governance protocols like Snapshot to ensure lightweight and gas-efficient decision-making.

Multi-Chain Compatibility

Pumpdotfun’s infrastructure is enhanced within Sybil to support multi-chain environments, allowing agents to operate across blockchains while maintaining ownership integrity.

  • Bridging Protocols: Tools like LayerZero or Wormhole enable seamless token transfers and interoperability.

  • Agent Operations: Agents leverage multi-chain data for decision-making while ensuring profits are routed back to the Arbitrum base layer for distribution.

Sybil Toolbox Integration

The Sybil toolbox plays a critical role in tailoring IAOs for creators:

  • Tokenization Wizard: Automates the minting process, allowing creators to define token supply, ownership splits, and auction parameters.

  • Performance Analytics: Real-time dashboards track agent performance, revenue, and engagement metrics, providing transparency to co-owners.

  • Smart Contract Templates: Pre-built templates from OpenZeppelin ensure consistent and secure tokenization and revenue-sharing mechanisms.

Post-IAO Functionality

Once an agent is operational post-IAO, its token holders benefit from a structured and transparent framework:

  • Real-Time Updates: Investors can monitor the agent's activity, revenue generation, and operational metrics through Sybil’s dashboards.

  • Secondary Market Trading: Agent tokens can be freely traded on Arbirtrum's or Sui's decentralized exchanges, allowing liquidity and value discovery.

  • Agent Upgrades: Token holders can propose and vote on upgrades or changes to the agent’s objectives, ensuring adaptability and alignment with market opportunities.

PreviousInitial Agent Offering (IAO)NextToken Delegation

Last updated 2 months ago