1. What is MyShell

MyShell is a decentralized AI consumer layer that connects consumers, AI agent creators, and open-source researchers.

MyShell was initially an equal platform, where anyone could create, share, and monetize their AI agents. Looking ahead, it will evolve into a shared ecosystem. Fueled by the drive to unlock the value of an open network, MyShell is moving towards unleashing boundless creativity and potential in consumer layers.

1.1 Background

The rise of artificial intelligence has led to an interesting phenomenon - the closed-source model ecosystem. Led by OpenAI, these powerful yet proprietary models provide users with advanced applications and services for complex data analysis and human-computer interaction. However, behind their impressive functionality lies some lesser-known costs.

• Centralization: The development and operation of the closed-source model are highly centralized. In order to gain a competitive advantage, each company establishes isolated ‘fortresses,’ squeezing the creative space of developers. Each company tries to define proprietary standards, which increases the dependence and conversion costs of creators. In addition, these walled gardens are largely unilaterally controlled, making it difficult for the community to influence the direction of the ecosystem.
• Lack of incentives: Existing closed ecosystems rarely provide effective incentives for data providers, agents, and other participants. The lack of profit-sharing mechanisms means that contributors rarely receive a reward commensurate with their efforts, thus inhibiting motivation and stifling innovation.
• Value deprivation: A few companies have algorithms, data, and generated wealth, while individual users and small creators who contribute data receive limited or no return. This model deprives them of control over data and content, limiting their potential benefits from contribution.
• Overly restrictive: As a service-oriented corporate entity, the closed-source model imposes overly strict and conservative restrictions, such as unnecessary restrictions on image generation. User interaction is confined within the boundaries set by the provider, with strict access controls and terms of use, restricting the potential for innovation.

1.2 Vision

MyShell was born from a deep reflection on the current artificial intelligence landscape. Our vision is to create a fair and open ecosystem where every participant can find their unique value proposition. At MyShell, we advocate for decentralized artificial intelligence, including:

• Open Source Model: We contribute to the development of the artificial intelligence industry by advocating an open source model and have a vibrant contributor community to drive the prosperity of artificial intelligence technology.
• Ecosystem incentives: A comprehensive incentive mechanism stimulates the vitality and innovative potential of the entire ecosystem.
• Value Redistribution: We ensure that creators and users benefit fairly from their data and creations through fair value redistribution.
• Freedom of Choice: Users and developers can freely choose different AI models to avoid reliance or monopoly on a single model. This autonomy extends to choosing Decentralization computing and storage solutions.

1.3 Core Components of the MyShell Ecosystem

The MyShell ecosystem is built on three core components to achieve our vision:

• Self-developed open-source AI models: We have independently developed multiple open-source AI models, including speech-to-text, large-scale language models, etc. Other existing technologies will also be gradually open-sourced for integration by everyone. More open-source research information can be found on MyShell GitHub ( https://github.com/myshell-ai ) Found in the middle.
• Open AI Agent Development Platform: MyShell enables individuals to easily build AI agents. Our platform allows creators to leverage different models and integrate external APIs, enabling third-party providers to offer services to developers. With native development workflows and modular toolkits, creators can quickly turn their ideas into fully functional AI agents, accelerating innovation.
• Fair value distribution ecosystem: Creators receive commercial value when using their agents, while also receiving platform-native incentives. They can even receive funding from sponsors. Additionally, once the MyShell ecosystem integrates with permissionless blockchains to achieve global liquidity access, creators will gain extensive financial returns, thereby amplifying the potential of AI agents.

At MyShell, we believe that every contribution is crucial to our ecosystem, and every innovation deserves recognition and reward. We invite you to join this revolution, together building a brand new AI era with opportunities open to all. Let’s create a fair future driven by open collaboration and shared success.

2. Explore AI agents

MyShell has thousands of AI agents carefully crafted by our creators, each with unique functions. These agents include emotion companions with unique personalities, role-playing games that take you into new worlds, learning coaches to guide you on your educational journey, and work assistants to enhance your work efficiency.

As our creation tools continue to evolve, we will see more and more fully-featured and entertaining AI agents on MyShell.

MyShell is committed to providing an AIpp Store, offering various multimodal User Generated Content (UGC) AI native agents on our Discovery page. By leveraging the powerful AI capabilities of MyShell, creators can easily develop a variety of AI agents, including:

• Powerful image generation AI agent
• Dynamic Video Generation AI Agent
• Interesting emoticon generator AI agent
• Exciting role-playing game (RPG) AI agent
• Amazing role AI agent
• Practical AI agent

With MyShell, creating and exploring innovative AIpps has never been so simple and exciting.

3. Create AI Agent

To create high-quality AI agents in MyShell, we offer three different modes to meet the needs of creators with different development capabilities:

1. Classic Mode: This simple mode is designed for beginners, equipped with basic functions for AI agents. With basic components such as automatic prompts and voice cloning, creators can easily build high-quality agents using natural language.
2. Pro Config Mode: This advanced mode is tailored for creators with programming skills, enabling developers to build powerful AI agents by assembling AI widgets within a human-controlled structure. It provides a versatile approach that balances human programming logic with AI prompts, essentially allowing developers to build state machines for their agents.
3. ShellAgent mode: This user-friendly interface supports creators of various skill levels to build advanced agents through simple operations, allowing everyone to engage in complex agent development.

4. MyShell Rewards and Token Economy

4.1 MyShell Reward Center

To better incentivize early adopters, MyShell has a reward center to encourage users to participate and record contributions using points and Shell coins.

4.1.1 Points vs Shells Coin

Points: The basic unit of points that records user actions and contributions.

ShellCoin: The basic settlement currency in the reward center, converted from ‘points’, records the user’s contribution in each season, and temporarily allows users to exchange platform items (such as chat boosters).

The exchange rate between Shell Coins and seasonal points is calculated quarterly by comparing the total points earned by users with the planned number of Shell Coins to be released. In this way, the exchange rate can be dynamically adjusted based on user contributions and the incentive distribution plan for that quarter. This method maintains a fair and robust incentive mechanism, encouraging continuous community participation and support for the MyShell ecosystem.

4.1.2 Seasonal Allocation

Points distribution:

Points are the basic scoring unit of points, used to incentivize user behavior. The tasks and activities that earn points rewards will be adjusted quarterly as the ecosystem develops, to align with MyShell’s strategic focus and development status.

Distribution of Shell Coin:

The quarterly issuance of Shell Coins corresponds to the development progress of the MyShell platform. Generally, the faster the growth rate in a specific quarter, the larger the issuance of Shell Coins.

In the early stages, the seasonal Shell Coin issuance is aimed at expanding user coverage and participation. Subsequently, the issuance will prioritize maintaining platform stability and rewarding loyal long-term participants through a persistent incentive structure. The goal is to strategically utilize Shell Coin allocation to gradually realize the vision of MyShell as the ecosystem develops.

4.2 MyShell Token Economics

4.2.1 $SHELL Introduction

$SHELL is the native token that supports the MyShell ecosystem, allowing access to advanced features, providing creator support, and facilitating payments.

The total supply of $SHELL is capped at 1,000,000,000 tokens, which will be gradually released over time to foster a deflationary economy and maintain token scarcity.

• Ecosystem/Treasury: Tokens are allocated to the treasury for purposes such as introducing strategic partners, developing on-chain ecosystem, and promoting special governance proposals.
• Community Incentives: Tokens are distributed as community incentives. These tokens are distributed quarterly to reward community users for completing quarterly tasks, creating AI applications, providing liquidity, and engaging in other activities that attract consumers, creators, and sponsors.

4.2.2 Token Distribution

SHELL token distribution is as follows:

1. Private Sale（私募）

- Allocation ratio is 29%.
- TGE unlocking ratio is 0%
- The ownership clause has a 1-year lock-up period, followed by linear release over 3 years

2. Advisors

- Allocation ratio is 3%
- TGE unlocking ratio is 0%
- The ownership clause has a 1-year lock-up period, followed by a linear release over 3 years.

4. Team

- Allocation ratio is 12%
- TGE unlocking ratio is 0%
- The ownership terms have a 1-year lock-up period, followed by a linear release over 4 years.

5. IDO (Initial Decentralized Exchange Offering)

- The allocation ratio is 4%
- TGE unlock ratio is 4%
- Non-Applicable (N/A)

6. Marketing

- The allocation ratio is 3.5%
- TGE unlock ratio is 3.5%
- No Assignment Clause (N/A)

7. Ecosystem and Treasury

- The allocation ratio is 13.5%
- TGE unlock ratio is 7.5%
- 5-year linear release

8. Community Incentive

- The allocation ratio is 30%
- TGE unlocking ratio is 7%
- 5-year linear release

9. Liquidity

- Allocation ratio is 5%
- TGE unlocking ratio is 5%
- Non-Applicable (N/A)

10. Total

- Total distribution percentage adds up to 100%
- TGE unlock ratio totals 27%

The design of token distribution and unlocking mechanisms is usually to balance the needs of early project financing, team incentives, community construction, ecosystem development, etc., while controlling the circulation of tokens in the market through lock-up periods and linear release to reduce impact on prices, etc.

4.2.3 Circulation Diagram of $SHELL

4.3 SHELL Token Basic Information

4.3.1 Basic Information of SHELL Token (2025-2-14)

1. Market Cap: $92,173,110
2. Circulation: 270,000,000
3. Total supply: 1,000,000,000
4. Fully Diluted Market Cap: $341,381,889
5. Contract Address: 0xf2c88757f8d03634671208935974b60a2a28bdb3

4.3.2 Market Performance of SHELL Tokens

Currently, the SHELL token has been listed on the Gate.io spot trading area,Click to trade!

Risk Warning: Cryptocurrency projects may have high volatility and high risk. Please trade cautiously and be mindful of the risks!

5. MyShell Team, Financing, and Roadmap

5.1 MyShell Team Information

• Ethan Sun: Co-founder of Myshell. Graduated from the University of Oxford. Has rich experience in AI and robotics research.
• Charles: Co-founder of MyShell, focusing on speech algorithm research, holding a PhD from MIT.
• Rick: Co-founder of MyShell, an experienced artificial intelligence product development and marketing strategy expert.
• Aiko Dai: The leader of the MyShell ecosystem and a partner at Folius Ventures.

5.2 MyShell Financing Information

MyShell has completed three rounds of financing in total:

• On 2023.10.16, MyShell completed a $5.6 million seed round financing with a valuation of $57 million
• On March 27, 2024, MyShell completed a Series A financing of $11 million at an unknown valuation
• On August 15, 2024, MyShell completed an undisclosed round of financing, and the financing information was not disclosed

Major investment institutions include:

• Dragonfly (invested in: AVAX, DYDX, NEAR)
• INCE Capital (formerly invested in: UXLINK, CYBER)
• YZi Labs (formerly invested in: SUI, APT, ENA)
• Animoca Brands (previously invested in: TON, ILV, YGG)
• OKX Ventures (formerly invested in: IO, METIS, SEI)

5.3 MyShell Roadmap

First quarter of 2025:

• Launch the interactive agent builder through natural language.
• Host AI hackathon and trading festival.
• ShellAgent integrates on-chain and social media functionalities.
• Develop the next generation of general agent infrastructure, as a data flywheel, using data from the entire digital world to support scalable agent training.

Q2 2025:

• Develop scalable reinforcement learning methods for teaching AI agents how to live, learn, reason, and create in the internet-scale digital world.

Conclusion

MyShell is a decentralized AI consumer platform designed to empower AI creators and unleash the potential of AI, creating unique and immersive experiences for everyone. However, the competition in the AI and Web3 tracks is extremely fierce. MyShell needs to compete with projects such as Fetch.ai and Arweave, facing challenges in technology implementation, user growth, ecosystem development, etc. The token economy design and issuance mechanism have a significant impact on its market performance. Overreliance on speculation or an unhealthy token economy may affect investors’ long-term confidence.