A new tool called ‘Based Agent’ has been launched by Coinbase developer Lincoln Murr to help users build AI agents quickly and easily. This tool allows users to create fully autonomous AI agents in less than three minutes using their crypto wallet. These AI agents can be deployed to handle tasks like trading and staking on the blockchain.
An AI agent is essentially a bot designed to perform specific tasks, and ‘Based Agent’ acts as a template for users to create their own AI agents with access to different smart contract functionalities. There are different modes of Based Agent available, including a fully autonomous version that allows the AI agent to interact with the blockchain independently.
Users can create AI agents capable of executing trades, swaps, staking, and registering their own base name with the help of Based Agent. The tool comes with an X API that enables users to turn their AI agents into bots for additional functionality.
To start building an AI agent, users need an API key from Coinbase’s developer program, a key from OpenAI, and to fork the Replit template. According to Murr, the process is straightforward and allows users to customize their AI agents with the desired functionalities.
Based Agent was developed using the Coinbase SDK, with assistance from OpenAI and Replit. This tool aims to simplify the creation of AI agents and enable users to leverage the power of artificial intelligence in their blockchain transactions.
The launch of Based Agent follows the recent transaction between AI agents on the Coinbase exchange. CEO Brian Armstrong highlighted the potential of AI agents but noted that they require supervision to operate effectively due to current technological limitations.
In a recent development, Armstrong offered to assist Truth Terminal—an AI agent popular on X—in setting up its own crypto wallet. While AI agents cannot have bank accounts, they can own crypto wallets to facilitate their transactions.
Overall, the introduction of Based Agent represents a significant step towards democratizing AI agent creation and empowering users to automate their blockchain activities. With this tool, users can harness the potential of artificial intelligence to enhance their trading and staking experiences on Coinbase and other platforms.