Why Functor Network?
In practice, Functor Network acts as a unified access layer for the autonomous world, i.e a world safely assisted with AI agents, automatizing complex, data hungry tasks.
Why is that?: We know that Artificial intelligence (AI) and blockchain intersect with on-chain AI agents, untapping markets such as:
- High speed & complex automatic trading with cross-chain liquidity
- Decentralized SaaS products with automatic & secure payment options, better customized based on consumer's behaviour.
- Richer intent engines with collaboration of multiple AI agent/oracles.
- AI-based dApps automation.
For this, we first need an infrastructure for these AI agents to act verifiably, collaboratively and chain-agnostically. To understand why these are not possible today, let's highlight the following limitations:
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Automation and transaction scheduling is inconvenient or insecure: Today, for an AI agent to act on-chain, it requires either their own wallet with funds (inconvenient and more costly) or access to a signing key to produce transactions over our assets (insecure).
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AI agents aren't perfect: We know AI can't be ever perfect: It hallucinates and give false positives/negatives. For it to be safely used, their computation must be verifiable cryptographically.
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Web3 is still fragmented: To realistically automatize much of Web3 core processes, We need to first solve fragmentations such as liquidity across L2s, the need of having one wallet per chain and trust-less cross-chain atomic transactions (mainly for safe DeFi applications).