Tag: Venice

Venice, a privacy-focused AI platform, has launched its VVV token on Ethereum’s layer-2 Base network, with half of the 100 million tokens being airdropped to Venice users and decentralized AI community projects. The rest of the tokens are allocated for team incentives, liquidity, and the Venice treasury. The VVV token bridges blockchain and generative AI, making Venice’s platform more accessible while avoiding reliance on traditional banking intermediaries.

The platform, launched in May 2024 by Erik Voorhees, a prominent figure in the crypto space, has quickly attracted attention. Venice now has over 450,000 registered users, with 50,000 active daily users and over 15,000 inference requests processed per hour. Its mission is to offer both technical and non-technical users a private, uncensored, open-source AI experience, aiming to reduce surveillance and control in AI interactions.

For the VVV token launch, Venice has allocated 25 million tokens to over 100,000 registered users and 25 million tokens to AI protocol accounts on the Base blockchain, including AI agents like Luna, aixbt, and VaderAI. Additionally, 25 million VVV tokens are set aside for Venice, with 10 million for the team and 10 million for an incentive fund. The remaining 5 million will be used for liquidity pools.

Venice’s token model allows users to stake their VVV tokens to access its API, granting perpetual access to AI inference. The amount of staked tokens determines the rewards, with 1% of staked tokens granting 1% of Venice’s API capacity. As demand grows, token holders benefit from ongoing API access without extra charges for each request.

Basic interactions with Venice remain free, but staking VVV tokens unlocks advanced features and ties users directly to the platform’s increasing API capacity. Additionally, Venice plans to add 14 million VVV tokens every year, starting with an inflation rate of 14%, which will decrease over time based on service demand.

What sets Venice apart from other AI platforms is its privacy-focused approach. User data is stored locally and encrypted during transmission, offering more control and security than centralized platforms. While other AI systems often rely on centralized authority, Venice’s decentralized model prioritizes privacy and the ability for users to interact with AI without external control or surveillance.

Venice’s platform is attracting a growing number of users and developers seeking alternatives to traditional AI systems. The launch of the VVV token and its innovative model positions Venice as a key player in the blockchain and AI space, offering an accessible and decentralized solution that challenges the current centralized AI landscape.