Self Chain - LLM UI to Simplify DeFi: What You Need to Know
Voice & Text Intents, Chat App Interfaces, & More
In case you haven’t noticed, Binance has actually considerably slowed token listings since several months ago. Just 3 new listings took place last month; two of these were TON-related, including the TON token itself (before all of the chaos) as well as a TON native memecoin, DOGS. The most recent listing is something distinct, Selfchain’s SLF. This listing coincided with a contract migration, from the project’s FRONT token to the new SLF. Before we discuss this token migration and rebrand, what exactly is Selfchain?
Selfchain describes itself as ‘the First Modular Intent-Centric Access Layer L1’. There are a lot of buzzwords in this description; but perhaps the most interesting part about Selfchain is its focus on UI, specifically allowing users to interact with the chain via a chatbot. The rise of chatbots as the primary means to interface with various new AI modules doesn’t need to be elaborated on too much. Young people in tech, with crypto being an adjacent or derivative industry, are likely familiar with the large and growing role these tools have come to play in workflows.
More and more people are using AI tools in place of google search, and now even using them to build various applications with a significantly minimized need for code. With all of this in mind, it may stand to reason that the poor UX of crypto may just leapfrog to these chatbot-esque solutions, instead of more incremental UI improvements. In today’s edition, we’ll discuss Selfchain, an emerging project that may take up a lot of the mindshare in the chatbot/intents space.
Stay informed in the markets ⬇
Background on Selfchain
Selfchain is a layer 1 blockchain that provides a suite of SDKs and plugins that developers can integrate with the intent to significantly enhance UX and application accessibility. As an L1, Self Chain purposefully positions itself at the center of all of this potential adoption that could come as a result of demand from teams to make their applications accessible.
For starters, Selfchain has Web2 sign-in capabilities. Not implementing these measures is almost a non-starter; larger applications can forego this feature but more and more new protocols are adding this to the point where it may become an industry norm in and of itself. Self Chain expands on this by also abstracting away private key management, via their Keyless Wallet SDK. In addition, the Self Chain includes its Intents SDK; this is what enables the chatbot-like interface which could potentially be a game changer if done right.
This SDK encompasses the LLM UI, which is responsible for effectively decoding user input, which can come in the form of text (chatbot) or voice. Once this input has been translated into a specific intent e.g. stake x amount of tokens, bridge to y chain, this is then put down the intents pipeline. We won’t go into detail here; the idea of Intents and their implementation has been around for some time now, with various protocols like Everclear, IntentX, and others building open the core concept.
Selfchain isn’t the only project building in this space; we previously covered Aperture, which also implemented a chatbot UI via its IntentsGPT implementation. Aperture focuses specifically on liquidity management on Uniswap V3 and Pancakeswap. This is a significant selling point, as it is quite unique. Should more projects also begin to go down this route, it could increase DeFi activity and encourage new entrants, and capital, into the space.
A core problem of crypto is that users basically need to be buyers of crypto in some capacity to participate. This is the main function of exchanges, and the majority of crypto holders don’t ever make it past this point. Prospective DeFi participants may take one look at protocols like Uniswap and Aave, which have various versions and are accessed across various chains and simply decide not to partake in this activity.
Pump .fun largely abstracted away the process of creating a new token, which gave way to a rise of new memecoins and subsequent speculation. This may be a strange comparison, but it could be an apt one. Now, even more serious projects have used the platform to launch their token, with Blinks.gg doing so just last week.
If an underlying infrastructure platform can make it easier to access applications with a standardized UI this could be a big win, for users, speculators, and the protocol(s) that manage to get it right, as well as the first applications to use this platform. Will Self Chain be the predominant provider in this area? Only time will tell; regardless, this trend is definitely something to keep an eye on.
Important Links
Become a Premium member to unlock all our research & reports including access to our members-only discord server
Join thousands of sharp crypto investors & traders by becoming a Premium Member & gain an edge in the markets. For just $116.58/month you’ll get:
Premium access to the entire Revelo Intel platform
Members Only Discord server
Market Intel - actionable trade ideas
Industry Intel - important trend & narrative overviews
Project Breakdowns - Deep dive 50+ page protocol-specific reports
Notes - Summaries of your favorite podcasts & AMAs