MarginFi’s Omni chatbot is intended to merge two tech worlds “next big things.”
The artificial intelligence overlords are coming for your coins.
MarginFi, a decentralized finance lender, has launched an experimental chatbot called Omni. Omni is a custom build of OpenAI’s wildly popular ChatGPT, but with a twist: it can also interact with your wallet.
“The idea is to make crypto easier,” MarginFi CEO Edgar Pavlovsky told CoinDesk in an interview. He says Omni can help users perform simple Web3 tasks, like spinning up a transaction to deposit and withdraw tokens to and from decentralized finance (DeFi) protocols such as his.
MarginFi’s chatbot is an early example of two buzzy corners of the tech sector merging. Though it’s not the first instance of crypto boosters building on ChatGPT, Omni’s ability to plug right into one’s wallet and become what is essentially a text-based user interface is unique.
To start with, the crypto functionality of Omni can only interact with Marginify. It is not yet able to generate transactions between wallets. Pawlowski said he is in talks with other Solana teams, including Drift and Backpack, about using Omni on their respective protocols. He wants the tool to be a virtual assistant for navigating Web3.
Omni is trained on reams of Solana-specific information, like protocol documentation and blog posts, in order to better address questions pertaining only to crypto. It pulls token price data from Oracle service Pyth.
Pavlovsky said he’s excited about the potential of Omni to make crypto more accessible to a wider audience. “We want to make it so that anyone can use crypto, regardless of their technical expertise,” he said.
Omni is still in its early stages, but it has the potential to be a game-changer for the crypto industry. By making it easier for people to interact with crypto, Omni could help to drive mass adoption of this new technology.
MarginFi’s chatbot Omni is an experimental tool that has the potential to make crypto more accessible to a wider audience. However, it is still in its early stages and has some limitations.
One of the limitations of Omni is that it is not always accurate. In some cases, it may provide incorrect or misleading information. For example, one reporter who tested Omni found that it had a strong tendency to “hallucinate,” which is the industry term for chatbots’ tendency to confidently present fake (sometimes absurd) assertions as fact. Omni’s hallucinations often mush crypto lingo into the mix.
Another limitation of Omni is that it can be difficult to use. It can get confused by complicated prompts and doesn’t always interpret commands in the way askers intend. This can be frustrating for users who are trying to get things done quickly.
Despite these limitations, Omni has the potential to be a valuable tool for crypto users. It can help users to perform simple tasks, such as depositing and withdrawing tokens, without having to learn how to use complex interfaces. It can also provide users with information about cryptos, such as token prices and market news.
MarginFi is working to improve Omni and make it more accurate and user-friendly. The company is also working to address the safety concerns that some users have raised. Overall, Omni is a promising tool that has the potential to make crypto more accessible to a wider audience.