Lit Alpha Box

Lit Alpha Box is a decentralized application that harnesses the wisdom of crowds to generate collective predictions for cryptocurrency projects. Users submit encrypted predictions, and mint NFTs in order to unlock access to a Lit Action which uses OpenAI to aggregate insights from other users.

The problem it tries to solve is addressing the fact that in public discourse people might be unwilling to share their opinions about markets, or opinion might be swayed by the loudest or most confident voices. By allowing people to privately submit their predictions you hopefully can get a better picture of the true views of people. Additional incentive mechanisms might be needed to properly incentivize users to submit honest input.

The project lets users encrypt data using Lit Protocol, which is then stored in a Supabase database. After encrypting data they can mint an NFT, which gives them access to make another Lit Protocol call which aggregates the predictions from multiple users and uses the OpenAI API to decrypt and aggregate the data inside a Lit action.