July 10, 2024: Under Discussion
As Smart Agents are developed within the Morpheus ecosystem, there will be a high demand for compute. This technology creates a marketplace to “lend” and “borrow” MOR tokens to utilize the compute at a cost determined by the community. We expect that this would be facilitated on one-off occasions naturally within the community, but recognize that providing a deployment template within the MOR ecosystem gives an added level of trust and security. This technology further facilitates the development of Smart Agents on the Morpheus platform.
Smart Agent developers must acquire compute through holding & staking MOR tokens, or by purchasing compute directly [need to clarify this existing mechanism]. These developers may not be interested in a large monetary exposure to MOR tokens to access the compute required for their agent, and will attempt to find other mechanisms to access compute without large initial investment, at a low cost. MOR holders who are not utilizing compute will be interested in “lending” their compute to create a revenue stream.
MOR Borrowers: Borrowing MOR to access the compute. (Paying fee to lenders) MOR Lenders: Lending MOR to monetize their unused compute allocation. (Receiving fee from borrowers) MOR Protocol: x basis points of reward amount will be paid to the Morpheus ecosystem (Receiving fee from borrowers)
A smart contract template will be developed, similar to the MOR20 form, that will provide the following capabilities: 1) “Owner”, which will be the Smart Agent Developer, 2) “Reward Currency”, what currency will the lender be compensated in, 3) “Reward Amount”, how much will the lender be compensated per locked MOR, per day, 4) “Period”, the amount of time that lenders will lock their MOR within the contract, 5) “Borrow Amount”, the amount of MOR the developer is open to borrowing, 6) “Assignment”, the address where the MOR compute earned within the contract will be assigned, 7) “Withdraw Excess”, the developer can withdraw any unused reward - if the lending pool was not 100% filled for the full duration, 8) “Withdraw MOR”, the lenders can withdraw the MOR at the end of the “Period”, 9) “Withdraw Reward”, the lenders can withdraw their reward that has been earned at any point in time, 10) “Morpheus Fee”, this will be calculated as x basis points of the “Reward Amount”, paid directly to Morpheus Protocol. 11) “Lend”, where the lender can deposit their MOR in the contract. When deploying the contract, the Smart Agent Developer must deposit the full “Reward Amount” that will be used to compensate Lenders across the entire “Period”. The only modifiable function within the contract will be the “Assignment”, as the Smart Agent Developer can change where the borrowed compute is utilized.
The key dependencies to this are the ability to assign MOR compute from one address to another, and the development of the smart contract. This assign function does not yet exist, and must be developed either through functionality within the compute proxy-router, or through a secondary assignment/access control smart contract (TBD).
P0: Smart Contract Development to support the borrowing and lending defined above P1: Form to support the simple deployment of the smart contract, similar to the MOR20 form P2: Marketplace that shows all of the smart contracts that have been deployed, their Reward Currency, Amount and Period, as well as the remaining amount that can be lent.