Ethereum’s Trustless AI: How ORA is Shaping the Future of DeFi

Imagine a world where artificial intelligence (AI) and decentralised applications (dApps) seamlessly merge, unlocking a new era of innovation.

This is the ambitious vision behind ORA, a groundbreaking project formerly known as HyperOracle.

Recently, ORA ignited excitement in the crypto space by securing a substantial $20 million funding round.

But what exactly makes ORA so revolutionary, and why is it generating so much buzz?

ORA: Ushering in a New Era of Trustless AI on the Blockchain

Founded in 2022, ORA is built to bridge the gap between AI and decentralised applications (dApps).

Traditionally, smart contracts – the self-executing agreements that power dApps – have been limited in their capabilities.

By functioning as a "verifiable oracle protocol," ORA empowers developers to craft secure, end-to-end, and intelligent dApps.

Imagine a world where AI seamlessly integrates into smart contracts, unlocking a plethora of innovative applications we can only begin to fathom.

One of ORA's most captivating offerings is the On-chain AI Oracle (OAO).

This ingenious mechanism shatters the limitations of traditional smart contracts by incorporating AI, enabling richer data sources, and facilitating complex computations.

This translates to unparalleled freedom for developers, allowing them to push the boundaries of innovation without constraints.

The Allure of ORA: Advantages and User Benefits

So, what makes ORA so compelling?

Here's a glimpse into the treasure trove of advantages it offers:

• Unleashing the Power of AI in Smart Contracts: ORA breaks new ground by integrating AI with smart contracts. This opens a world of possibilities for developers, enabling them to craft intelligent and dynamic dApps that were previously unimaginable.
• Enhanced Data Capabilities: ORA goes beyond the limitations of conventional oracles by providing access to richer data sources. This empowers developers to create dApps that leverage a wider range of information, leading to more robust and intelligent applications.
• Empowering Developers: ORA is a developer's dream come true. By removing constraints and offering a plethora of functionalities, ORA grants developers the freedom to explore uncharted territories in the realm of dApp creation.

The Power of IMOs: Democratising AI Development

But ORA's brilliance extends far beyond the On-chain AI Oracle.

At the heart of its ecosystem lies the groundbreaking concept of Initial Model Offerings (IMOs). IMOs offer a revolutionary approach to funding and monetising AI models.

Here's how it works:

• Tokenization of AI Models: IMO allows developers to tokenize their AI models, essentially creating digital assets that represent ownership.

• Open-source Sustainability: This approach fosters a sustainable environment for open-source AI development. By enabling tokenization, IMO empowers contributors to reap the rewards of their efforts, fostering a thriving and engaged open-source community.
• Democratising AI Investment: IMOs open the doors for anyone to invest in the future of AI. By participating in IMOs, individuals can support the development of groundbreaking AI models and potentially share in the success of these ventures.

Why Ethereum and Beyond?

While ORA is deeply integrated with the Ethereum ecosystem, its vision extends far beyond a single platform.

With support for L2 solutions like Arbitrum and Optimism, as well as EVM-compatible chains like Base and Linea, ORA empowers developers to choose the environment that best suits their needs.

This ensures that the benefits of decentralised AI are accessible to a wider audience.

$20 Million Raised – A Testament to ORA's Potential

The recent $20 million funding round secured by ORA is a resounding endorsement of its potential.

This impressive feat signifies the confidence that prominent investors, including Polychain Capital, HFO, HashKey Capital, and SevenX Ventures, have in ORA's ability to revolutionise the AI and blockchain landscapes.

This wasn't ORA's first funding rodeo.

In January 2023, then-known as HyperOracle, the project successfully closed a $3 million pre-seed round, led by dao5 and Sequoia China Seed Fund.

This early backing served as a springboard for ORA's groundbreaking advancements.

The Masterminds Behind the Project

ORA was co-founded by three individuals – Kartin Wang, Norman Von, and Suede Kam.

Each member brings a unique set of skills and experiences to the table, forming a formidable team with a shared vision for the future of AI and blockchain.

Kartin Wong

Social: X | Linkedin

Kartin Wong is the Co-founder of ORA.

After graduating from the University of Arizona, he began his career as a machine learning engineer intern at IQVIA in 2019, then served as a Software Engineer at Google in 2020, and later became the Tech Lead for SRE Infra at TikTok in 2021.

His experience at Google and TikTok fueled his interest in blockchain technology and decentralised finance, leading to the founding of ORA in September 2022.

Suede Kam

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Suede Kam, a co-founder of ORA, holds a background in Mathematics and Economics from The University of Texas at Austin. Originally from Hong Kong, she has served as an advisor at Carbonless Asia since August 2020.

Norman Von

Chief Technology Officer

Social: X

Norman Von serves as the Chief Technology Officer and Co-founder of ORA.

His expertise spans the development of ERC7007 and ERC7641 standards, focusing on zkOracle and OpML technologies.

With a background as a World Supercomputer Architect and experience as a Whitehat Hacker, Norman Von plays a pivotal role in advancing decentralised finance (DeFi) capabilities through innovative blockchain solutions at ORA.

Other team members:

Suning Yao

Research Engineer

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Suning Yao is a Research Engineer at ORA since September 2022, also part of the founding team.

At ORA, he authored the whitepaper and over 15 research works, co-authored ERC-6150 and CIP-5, and initiated over 40 open-source projects within the ORA ecosystem.

His contributions include leading the design and management of product mechanisms, tokenomics design, and developing ZK solutions.

Prior to ORA, Suning gained experience as a Software Engineer Intern at Google, where he focused on scaling ML models and contributed significantly to technical research in crypto at Foresight Ventures.

Cathie So

Chief Scientist

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Cathie So is the Chief Scientist at ORA, having joined in January 2024. Previously part of the PSE Team at the Ethereum Foundation, she co-founded 852dev.xyz, a Hong Kong-based non-profit fostering Web3 development.

With advisory roles at Virtuals Protocol, Between, Terminal 3, 7007.studio, and as an angel investor at Modulus Labs, Cathie is deeply involved in advancing blockchain and AI technologies.

She boasts 10,300 followers on X, which reflects her influence in the blockchain industry.

Staking $OLM

ORA is actively building a vibrant community around its project.

One way they are achieving this is through their staking program, which allows users to stake Ethereum (ETH), Lido stETH, Lido Finance's staked ETH token, StakedDAO's $STONE token, and ORA's very own $OLM token.

By participating in staking, users not only contribute to the security of ORA's upcoming decentralised oracle network powered by opML, but they also earn valuable ORA Points and become early members of a thriving community poised to shape the future of decentralised AI.

As of writing, OpenLM RevShare token ($OLM) has surged by 50% in the past 24 hours and 97% in the past week, currently valued at $0.03571. This surge could be attributed to recent funding and staking events.

Should You Invest in ORA?

ORA presents a novel approach to bridging the gap between AI and dApps.

Their on-chain AI oracle and initial model offerings have the potential to revolutionise how smart contracts leverage AI.

The recent funding round and surging token price are strong indications of investor confidence.

However, ORA is a young project in a rapidly evolving space. The long-term success of ORA hinges on the team's ability to deliver on their ambitious vision.

Carefully weighing the potential benefits against the inherent risks associated with any new project is essential before making an investment decision.