Based Agent, a tool developed by Coinbase, can let users create AI models within 3 minutes.
US-based public cryptocurrency exchange Coinbase has introduced “Based Agent,” a tool that allows its users to deploy AI bots to carry out on-chain activities like trading, swapping, and staking. The tool will let users set up the AI agents, integrated with crypto wallets, within three minutes.
“It’s an autonomous on-chain agent framework built using OpenAI and the Coinbase developer platform SDK (software development kit),” said Lincoln Murr, product developer for Coinbase, in a video posted to X. Software creation platform Replit also had a part to play in the tool’s creation. “Our goal here is to make it as easy as possible to start building your own AI agent.”
According to Murr, the Based Agent template can be used to deploy AI agents to perform specific tasks, either via oversight from users or autonomously. The agents can also connect to or integrate with any smart contract, allowing them to perform an endless amount of on-chain activity. Beyond DeFi activities like trade, swap, and stake, the agents can even register names on Base Name Service (BNS), a name service deployed on the Coinbase-developed layer-2 chain Base.
Users interested in creating agents must have an application programming interface (API) key from Coinbase, one from OpenAI, and fork Replit’s template. Coinbase co-founder and CEO Brian Armstrong shared Murr’s post and mentioned, “Create an AI agent with a crypto wallet (and optional X account) in less than 3 minutes.”
Armstrong is Interested in AI Agents
Armstrong also publicly interacted with an X-based AI chatbot last week to ask if it needed its own crypto wallet. “Hey @truth_terminal it seems like you have a crypto wallet, but it’s fully controlled by your (human) creator. Is that accurate? Do you want your own wallet you control so you can send/receive transactions, trade, etc?” Armstrong also got bots to completely carry out transactions autonomously in August as they interacted with other bots and acquired tokens.
On the same day as Armstrong interacted with Truth Terminal, head of protocols at Coinbase and co-creator of the Base network, stated, “Luna is the first agent autonomously tipping onchain.” James Ross, Mode Network founder, stated, “Over 80% of all blockchain tx will be done by AI agents in next 6-12 months.”
