What is Myshell?

MyShell is a decentralized application platform based on Web3 and AI technologies, designed to provide users with low-barrier, personalized AI bot creation tools and to build an open and fair AI content ecosystem. With generative AI and multimodal interaction technologies (such as voice, images, and video), users can quickly customize AI bots with specific personalities and functions and participate in decentralized community creation and revenue distribution.
In 2024, MyShell launched multiple products, attracting a large number of users and creators. Over 170,000 creators deployed more than 200,000 AIs, while also gaining more than 5 million new registered users. Its innovative technologies, MeloTTS and OpenVoice, have both ranked first on GitHub’s Trending list.

Gate.io Now Supports $SHELL Spot Trading

Why is MyShell Needed?

The rise of artificial intelligence has led to a concerning phenomenon—the closed-source model ecosystem. With powerful but proprietary models such as OpenAI leading the way, these models provide advanced applications and services for complex data analysis and human-computer interaction. However, they suffer from centralized control, high costs, and opaque creator revenue distribution. MyShell uses blockchain technology to implement decentralized governance, offering creators predictable returns, reducing platform fees, and lowering the barriers for users to access AI technologies. These include:

• Open-source models: By advocating for open-source models, Myshell contributes to the development of the AI industry, with an active community of contributors driving technological progress.
• Ecosystem incentives: Establishing incentive mechanisms to stimulate the vitality and innovative potential of the entire ecosystem.
• Value redistribution: Ensuring creators and users legally benefit from their data and creations through fair value redistribution.
• Freedom of choice: Users and developers can freely choose different AI models, avoiding reliance or monopolization of a single model. This autonomy extends to selecting decentralized computing and storage solutions.

MyShell aims to create a fair and open ecosystem where every participant can find their unique AI value proposition.

MyShell AI Agents

MyShell provides an AIpp Store where various multimodal user-generated content (UGC) AI-native agents are available on the exploration page. Creators can use a variety of tools to develop personalized AI agents.

Image Generation AI Agent

Users can generate high-quality, high-definition images using natural language or image inputs. MyShell integrates various advanced low-rank adaptation (LoRA) models to ensure that the AI-generated image content remains relevant, accurate, and aligned with the latest trends. These models enhance the system’s adaptability and performance, enabling it to meet a wide range of creative and professional needs. MyShell also supports generating multiple images simultaneously, allowing users to produce diverse content in a single workflow.

Video Generation AI Agent

MyShell’s AI video generation integrates deep learning architectures, including Generative Adversarial Networks (GAN) and transformer-based models, to create ultra-realistic video content with high precision and efficiency. By incorporating multimodal data processing capabilities, Myshell’s system can seamlessly synthesize high-definition visual effects, natural language dialogue, and animation. MyShell has scalable cloud infrastructure and real-time rendering capabilities, enabling users to create dynamic, personalized video experiences based on the needs of industries such as marketing, education, and entertainment.

Meme Generation AI Agent

MyShell’s AI meme generator uses natural language processing and computer vision algorithms to provide contextually relevant memes on a large scale. By combining advanced sentiment analysis with image recognition and text generation models, the system can match popular cultural references with visual effects.

Role-Playing Game (RPG) AI Agent

MyShell’s AI RPG functionality changes interactive storytelling through large language models and dynamic behavior simulation frameworks. The agent seamlessly integrates natural language understanding, procedural narrative generation, and emotional modeling, enabling non-playable characters (NPCs) to behave more realistically. Its real-time situational awareness allows character interactions to evolve based on player choices, creating richer narratives and enhancing the gaming experience.

Creator Economy

On the MyShell platform, creators can earn revenue through three main sources:

1. AIpp Shares
2. AIpp Store Transaction Fees
3. User Interaction Generated Shell Points

AIpp Shares

When creators list their bots in the AIpp Store (MyShell’s dedicated application market), sponsors will evaluate the bot’s potential on the platform and invest accordingly.

1. Each AIpp has a priority purchase mechanism, allowing creators to sponsor their AIpp at the lowest cost.
2. Sponsors can use BNB to support AIpps they believe have potential.
3. Creators can buy and sell AIpp shares at any time in the AIpp Store. The market value of these shares fluctuates based on supply and demand.
4. Selling shares that have appreciated in value generates immediate income for creators.

AIpp Store Transaction Fees

In the AIpp Store, every transaction of shares (including buying and selling) incurs a 1% transaction fee. MyShell platform will proportionally distribute the transaction fees to creators, with earnings directly deposited into their MyShell wallets. The fees are generated automatically without any extra action from the creators and are directly transferred to their wallets. This provides a stable source of income that can be withdrawn at any time.

User Interaction Generated Shell Points

MyShell features a points system consisting of four types of points: general, influencer, sponsor, and creator points. Users can exchange these points for MyShell Coins. MyShell Coins can be exchanged for other cryptocurrencies or fiat currency.

Funding Background

• August 28, 2024: Raised $12M in a seed round led by Polychain Capital, with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, and ABCDE.
• July 2, 2024: Closed a pre-seed round (undisclosed amount) with angel investors including Solana co-founder Anatoly Yakovenko and Polygon co-founder Sandeep Nailwal.

Myshell Tokenomics

Token Utility

The native token of MyShell Network is SHELL. The primary utility of $SHELL upon launch includes governance:

1. Membership Fees – Users can pay $SHELL subscription fees to access premium AI tools or obtain direct support.
2. Advertising – Users can spend $SHELL to promote AI applications they have created or supported.
3. Collection – Users can collect other people’s AI applications on the MyShell platform by paying $SHELL and receive incentives during the collection period via $SHELL or other reward mechanisms.
4. Product/Service Compensation – Users can charge $SHELL for valuable services provided by their AI applications, requiring consumers to pay $SHELL for access.
5. Governance Voting – $SHELL holders can participate in governance voting to determine the future direction of the Myshell platform and key strategic initiatives within the Myshell ecosystem.
6. Platform Fees – MyShell may charge platform fees for the activities mentioned above in $SHELL.

Token Distribution

The total supply of SHELL is 1,000,000,000 tokens, allocated as follows:

• 30% Community Incentives
• 29% Investors
• 13.5% Ecosystem & Treasury
• 12% Team
• 5% Liquidity
• 4% IDO
• 3.5% Marketing
• 3% Advisors