YeagerAI Secures $7.5 Million Seed Round

YeagerAI, the developing company behind the decentralized AI network GenLayer, has successfully closed a $7.5 million seed round.

Funding Details
North Island Ventures led this fundraising round, which attracted various venture capitalists, including Node Capital, Arrington Capital, ZK Ventures, WAGMI Ventures, and BlockBuilders, along with Arthur Hayes’s family office, Maelstrom, and several angel investors.

Innovation in Intelligent Contracts
The YeagerAI team is pioneering a technological concept called “intelligent contracts“—blockchain-based systems that utilize large language models (LLMs) linked to the internet to perform functions.

Amos Meiri, a partner at Node Capital, commented on the industry’s challenges, stating, “Some of the core limitations the industry faces stem from the need for humans in the loop and lack of access to real-world data.”

AI and Blockchain Synergy
GenLayer co-founder Albert Castellana discussed new possibilities that arise from combining AI and blockchain, mentioning the ability to achieve consensus on subjective decisions. Traditional blockchains function on deterministic computation, where a smart contract consistently produces the same output given a particular input.

With the capability to respond to external online information, developers can create applications that adapt to changing conditions, such as fluctuations in financial markets, weather updates, and news events.

Proof-of-Stake Algorithm
GenLayer employs AI in its unique delegated proof-of-stake algorithm, which randomly designates a lead validator to propose an output. This output is then voted on by four other validators connected to different LLMs. If the majority supports the subjective output, the transaction is processed.