Empyreal is an intelligent infrastructure platform for Web3 development that enables AI-powered decentralized finance (DeFi) through autonomous agents, real-time data streaming, and account abstraction. The platform aims to simplify blockchain development for developers of all skill levels through its modular Software Development Kit (SDK).

Overview

Empyreal operates as a comprehensive development toolkit designed to bridge the gap between traditional developers and the Web3 landscape. At its core, EmpyrealSDK provides an intuitive interface for developers who may not be familiar with blockchain-specific languages like Solidity, allowing them to build decentralized applications (dApps) more efficiently. The platform employs a modular approach to development, with distinct modules serving as self-contained units that can be combined as needed to create or support individual products.

The platform's infrastructure supports several key functionalities:

• Low-code infrastructure for integrating AI agents into applications;
• Scalable and flexible snap-to-grid modules for customization;
• Real-time data streaming with indexed transaction and event data;
• Account abstraction capabilities for trustless delegation and private transactions.

Empyreal's technology powers various applications, including Simulacrum, a platform integrating social media, artificial intelligence, and DeFi, and The Enclave, a privacy-focused solution for secure transactions. ^{[1] [2] [10]}

History

Empyreal was founded by a team led by Johnny Khan, who serves as the lead developer and primary founder. The founding team also includes Bill, Greg Ivanov, and Iggy, each contributing their expertise to different aspects of the project.

In 2023, Empyreal launched the Enclave on Arbitrum, a Layer 2 scaling solution, to enhance transaction speed and reduce costs. That same year, the project gained recognition when it won the Oasis Sapphire Privacy4Web3 hackathon, highlighting its commitment to privacy and security in blockchain transactions.

The project expanded its ecosystem through strategic partnerships with several organizations:

• TokenSight and Friends With Benefits (FWB) in 2023, enhancing its DeFi environment;
• Banana Gun and Uni Terminal in early 2024, focusing on trading optimization;
• Peapods Finance in March 2024, improving streaming data capabilities.

On October 19, 2023, Empyreal released its comprehensive whitepaper, detailing the project's vision, technology, and roadmap. In January 2024, the team launched EmpyrealSDK v1, marking a significant milestone in their development journey.

The Enclave, Empyreal's privacy-focused application, went live on Ethereum Mainnet and Arbitrum in January 2024, bringing privacy-preserving ETH transactions to users.

In March 2024, Empyreal introduced AI-powered trading bots for LogX, demonstrating its commitment to integrating artificial intelligence with trading strategies.

Technology

Empyreal's technology is built around its Software Development Kit (EmpyrealSDK), which is designed specifically for Web3 development. The SDK provides a low-code toolkit that simplifies the creation of bots and decentralized applications, focusing on automation and real-time data to make cryptocurrency development more accessible.

The EmpyrealSDK is fundamentally based on a data model built upon an Object-Relational Mapping (ORM), mapping entities to database tables and linked to a REST API. It's constructed using an asynchronous Python 3 framework with FastAPI, aligning with current Python REST API tooling standards.

The platform includes a specialized Web3 framework that simplifies interactions with various Web3 concepts through an object-oriented design. This framework offers generalized methodologies for developing abstractions on Web3 protocols like Orbiter, Layer0, Uniswap, AAVE, and GMX ^[1].

Key Components

1. Modular Design: Empyreal adopts a modular approach where distinct modules within the SDK serve as self-contained units of execution that can be stacked as needed. Each module simplifies and encapsulates a specific functionality, such as swapping mechanisms in the DEX module.
2. Language Integration: Initially targeting Python for development, EmpyrealSDK also plans to support TypeScript/JavaScript. The SDK simplifies interaction with smart contracts, eliminating the need for developers to understand Solidity or have in-depth knowledge of each protocol's intricacies.
3. The Enclave: A privacy-focused solution that combines transaction privacy with yield generation. It integrates with Oasis Sapphire to provide an encrypted state where token holders can wrap tokens, execute transactions, and unwrap back to their wallets with end-to-end encryption.
4. Automation & Bots: The platform provides a framework for developing trading strategies and automating blockchain interactions. It aims to create a system comparable to Apache Airflow in Web 2.0 development, capable of managing automation for users and facilitating complex, interconnected pipelines.
5. Real-Time Data Streaming: Empyreal offers efficient means of aggregating and collecting real-time price and market data for the DeFi space, addressing a gap in the current ecosystem despite the publicly accessible nature of on-chain data.

The blockchain on which Empyreal operates implements advanced security measures to prevent attacks from malicious actors. These include decentralized consensus mechanisms to ensure no single entity can control the network and cryptographic algorithms to secure transactions and make them tamper-proof. ^{[1] [2] [3] [4] [9] [10]}

Empyreal Token (EMP)

The Empyreal token (EMP) is the native cryptocurrency of the Empyreal ecosystem, operating primarily on the Arbitrum and Ethereum blockchains, with additional availability on the Base network.

Tokenomics

As of the publication of the Empyreal whitepaper, the total supply of EMP is 300,000 tokens, all of which are in circulation. The project left open the possibility of a one-off supply increase of 11% to 333,333 tokens no sooner than January 31, 2024, contingent on appropriate justification and community support.

Empyreal implements a fee-based revenue model:

• A fee of 0.35% is applied to every transaction enabled via the EmpyrealSDK modules;
• 50% of accrued revenues are shared with EMP token stakers once daily revenue exceeds $2,500 for at least 15 days in a 30-day period;
• When daily revenue is below $2,500, proceeds are gathered in a reward pool and distributed to stakers over a 3-month period once the revenue threshold is reached;

Staking

The Empyreal staking system is designed to incentivize long-term project participation:

No minimum requirement of EMP tokens for staking eligibility

Rewards are distributed through either a lock-up period of up to 6 months, with participants rewarded proportionally to the length of time they have staked, or a linearly increasing reward system where multiplier points are accrued based on the period of time each wallet's tokens have been locked up.

EMP tokens can be traded on various decentralized exchanges, with the most active trading pairs being EMP/WETH on Uniswap V3 (Ethereum) and Uniswap V3 (Arbitrum One). The token is also available on centralized exchanges like CoinEx. ^{[10] [11] [1] [2] [3] [9]}