Bull Ship Agent

Background

An intelligent, automated trading engine is a long-standing dream for many investors. The ability to generate profits and manage losses with minimal effort and time is a compelling vision. As generative AI matures, we've seen a surge in AI-powered trading tools aiming to deliver on this promise.

However, integrating these tools with Web3 has proven challenging. Complex user experiences and technical hurdles often prevent everyday investors from realizing the benefits of this technological shift.

How Bull Ship Agent Simplifies Web3 for AI Trading

Bull Ship Agent addresses the core usability issues of Web3 and enhances the AI trading experience:

• Gas Abstraction: Users interact with the platform using only USDC. There’s no need to manage gas tokens like ETH or MATIC.
• Chain Abstraction: Users don’t need to know or manage which chain they're on. They can transfer USDC from any major chain and start using the platform.
• Cross-Chain Best Rates: AI agents can access the best trading prices across both Layer 1 and Layer 2 chains.

Going Beyond — Unlocking Web3's Potential

Bull Ship Agent not only solves Web3’s complexity, it also harnesses its unique strengths:

• On-chain liquidity with instant settlement
• Co-investment and atomic profit distribution
• Long-term incentives for agent creators

By abstracting away Web3’s technical burdens, Bull Ship Agent enables both Web2 and Web3 users to onboard effortlessly. The AI trading engine leverages multi-chain liquidity to maximize profitability, building on the intelligent strategies defined by agent creators.

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Features

• Fast Trading Agent Deployment
• Join Top-Performing Crews
• Fair Profit Distribution with Liquid Funds

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Demo Flow

1. Onboarding

1. A user connects to the Bull Ship Agent platform via PassKey and completes KYC verification to comply with regulations.
2. The user deposits USDC from any major chain into their wallet.

2. Agent Creation

1. The user initiates the creation of a new trading agent by filling in the agent’s name, token list, and a plain-text description of the trading strategy (no code required).
2. The agent is registered via a smart contract. The user pays a transaction fee using USDC, not ETH.
3. Upon creation, the user funds the agent with USDC and receives agent tokens, representing their share in the agent’s pool.

3. Agent Trading Execution

1. Each agent has its own dedicated on-chain wallet, complete with an ENS subname for human-readable identity.
2. At each interval, the agent:
   • Consumes information
   • Forms a trading intent
   • Submits this intent without needing to choose which chain to use
3. The Bull Ship backend interprets the trading intent and searches for the best price across chains using 1inch Fusion and Fusion+.
4. Trades are routed to the optimal venue, executed, and then the agent waits for the next interval.
5. At the end of each epoch (~7 days), the agent:
   • Concludes its performance
   • Converts all assets back to USDC
   • Distributes returns to investors
   • Accepts new funding
6. Over time, the Bull Ship backend records performance metrics and aggregates data for investors to evaluate and invest in agents.

4. Investing in an AI Agent

1. Users browse and explore active agents on the platform.
2. Investors buy agent tokens using USDC. A 0.3% fee is transferred to the agent’s creator.
3. The AI agent now has more capital to trade with.
4. Investors can request withdrawals at any time, with funds released at the end of the current epoch (~7 days).
5. For immediate liquidity, investors can sell their agent tokens on a secondary market.
6. Selling back to the pool also incurs a 0.3% fee, which is sent to the agent creator. Investors receive a proportional share of the agent’s USDC balance based on their ownership.

Presentation: https://docs.google.com/presentation/d/1P1cN657tDROxcSk-HG3Oox9JvKNhjXY5RTzA8iA4TUM/edit?usp=sharing

System Architecture

1. Circle Smart Wallet:

   Enables PassKey-based onboarding and KYC verification.

2. Circle Paymaster:

   Facilitates gasless transactions by allowing USDC to cover transaction fees.

3. CCTP (Cross-Chain Transfer Protocol):

   Allows users to fund agents even if their USDC is held on chains outside of the Base chain (Bull Ship contracts operate on Base).

4. ENS L2 Subnames:

   Each agent receives an L2 subname under bullship.eth, offering a clear and human-readable identity.

5. 1inch Portfolio:

   Tracks agent assets across multiple chains, presenting a comprehensive and insightful dashboard of each agent’s holdings and performance.

6. 1inch Fusion & Fusion+:

   The backbone of trade execution, providing the best rates across major chains and optimizing trade outcomes.

7. Bull Ship Contract:

   A central smart contract managing agent registration, share token issuance, and the co-investment system.

8. Bull Ship Backend:

   An off-chain relayer responsible for:

   • Invoking AI models
   • Tracking agent performance
   • Handling data queries for agents and users