Birth of the First AI-Generated Memecoin, AstroPepeX (APX)

Crypto | Sep 22, 2023

Image: Unsplash/KS KYUNG

The cryptocurrency landscape is no stranger to innovation, and the latest entrant is a testament to that.  The birth of AstroPepeX (APX).

An anonymous Ethereum developer has recently unveiled a unique approach to creating digital tokens: using artificial intelligence. The developer, known by the Twitter handle @CroissantEth, has combined OpenAI’s ChatGPT API with a custom script, enabling the chatbot to autonomously create an ERC-20 tokenthat’s rapidly gaining traction across various DeFi and centralized exchanges.

The developer’s AI tool doesn’t just create any token; it crafts an ERC-20 token using Open Zeppelin standards. Open Zeppelin is a renowned open-source framework for constructing secure smart contracts. These contracts are written in Solidity, Ethereum’s programming language. The AI determines the token’s name and other parameters based on values provided by GPT in the code’s constructor.  The first public token launched using this tool is AstroPepeX (APX).

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Launched on September 20, 2023, APX has seen an impressive ascent.  Impressively, within just 24 hours of its introduction, AstroPepeX accumulated a staggering $12.9 million in trading volume. The token’s name wasn’t arbitrarily chosen. ChatGPT generates names based on real data from the top ten thousand tokens traded on Uniswap. It then cross-references these names with market-cap data from CoinMarketCap and CoinGecko. Some of the bot’s test runs produced coins with names like “Inuverse” and “QuantumPepe”, hinting at popular memecoins and concepts like Dogecoin and the metaverse.

Etherscan data indicates that over 2,400 individuals now hold APX, with more than 20,700 transactions recorded.

AI’s Creative Touch and Rapid Adoption

The developer, Croissant, shared insights with Decrypt, revealing the AI’s surprising creativity. “The number of Pepe generations were quite funny, and it was super cool to see where GPT actually input real creativity in the data,” he remarked. He further explained that while some token specifics, such as token supply, can be directly configured, others are left to ChatGPT’s imagination. After determining a name and description for the coin, ChatGPT collaborates with DALL-E, another OpenAI tool, to design a fitting icon for the token.

The crypto community has quickly embraced AstroPepeX. Prominent exchanges like Poloniex, Bitget, MEXC, LBank, and select DeFi platforms now list APX for trading. Poloniex, in particular, was swift to promote the token’s listing, highlighting the buzz around APX.

Safety and Security

To ensure the integrity of the process, Croissant designed his tool to revoke ownership of any contract generated by ChatGPT immediately. Additionally, all token supply is added to Uniswap liquidity upon creation, accompanied by 2 Ether (ETH).

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While AstroPepeX has garnered significant attention, CroissantETH has clarified that there isn’t an official Telegram group for the token. An unofficial group with around 1,500 members exists, but APX’s creator emphasizes transparency and the importance of official communication channels.

Onslaught of New Memecoins?

With such a promising start, APX is undoubtedly a token to watch in the dynamic world of digital assets.

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