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A Developer Asked AI to Name and Launch a Memecoin—It Raked In $12 Million In One Day

Sep 21, 2023 - decrypt.co
An anonymous Ethereum developer, known as @CroissantEth, has released code that instructs AI tools to automatically create new ERC-20 tokens. The developer used OpenAI’s ChatGPT API and his own script to enable the chatbot to generate real digital coins. The chatbot uses Open Zeppelin standards to form an ERC20 token, with token name and other parameters passed in by values given by GPT in the code's constructor. So far, the developer has launched one public token, AstroPepeX (APX), which has already seen $12.9 million in trading volume in 24 hours.

The developer plans to publish a user interface for his code, allowing non-technical experts to launch tokens on Ethereum using ChatGPT. Some tokens have already been generated by the tool with help from the developer's tech-savvy followers. The developer was inspired by a similar project, Turbo, but modified it to involve even less human intervention. The chatbot also generates a name and description for the coin, which are then fed to DALL-E, another OpenAI tool, to create an icon for the coin.

Key takeaways:

  • An anonymous Ethereum developer, known as @CroissantEth, has released code that uses OpenAI’s ChatGPT API to automatically deploy new ERC-20 tokens.
  • The developer has already launched a public token, AstroPepeX (APX), using the tool, which has achieved $12.9 million in trading volume over the past 24 hours.
  • The tool uses real data from the top ten thousand tokens traded on Uniswap and market-cap data from CoinMarketCap and CoinGecko to generate names for the tokens.
  • Croissant plans to publish a user interface for his code, allowing non-technical experts to launch tokens on Ethereum using ChatGPT.
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