"Chainbase Network powers AI in crypto, just like Oracle powers Blockchain." 💡
This piqued my interest enough to dive deep into @ChainbaseHQ, exploring their innovative products and uncovering the groundbreaking work they're doing 🚀
Time to unveil the magic! 🔍👇
Product:
@ChainbaseHQ is the world’s largest omnichain data network 🌐 designed to integrate all blockchain data into a unified ecosystem, providing an open and transparent data interoperability layer for the AI era 🤖.
It features a novel dual-chain technology architecture 🛠 that bridges the programmability and composability of crypto data, supporting high throughput, low latency, and eventual determinism, plus enhanced cybersecurity through a dual staking model 🔒.
Their mission is to make data accessible and useful. With Chainbase, people can truly enjoy the benefits of the open internet era 🌍💡.
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Chainbase Network Overview:
The Chainbase Network is composed of Operators, Validators, Developers, and Delegators who provide services to the network and supply data to Web3 applications. Consumers utilize these applications and consume the data.
What can Chainbase be used for?
Wallet: Enables wallets to manage and view assets on multiple blockchains from a single interface, improving user convenience. 🏦
Security: Tracks attacks, provides security alerts, and performs in-depth security analysis to protect the blockchain network. 🔒
AI: Facilitates the deployment of AI models that use data from multiple blockchains, enhancing accuracy and decentralization. 🧠
Social: Builds social platforms where users from different blockchains can interact and share content seamlessly. 👥
Infrastructure: Provides a robust infrastructure for building applications that utilize data from multiple blockchains. 🏗
DeFi: Enables DeFi platforms to support lending and borrowing across different blockchains, increasing liquidity and flexibility. 💸
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Their Most Recent Project, ZIRCON (Genesis):
The “ZIRCON (Genesis)” project marks the beginning of a groundbreaking chapter for Chainbase, aiming to build a unified, secure, and decentralized data network. 🌍🔗
This ambitious initiative seeks to set new standards in data protocols, decentralized computing, and storage, and developer incentives. 📊
It also focuses on training sophisticated crypto-world models and empowering users with cutting-edge AI tools. 🧠🤖 As Chainbase evolves, it will support a thriving data ecosystem, enhance protocol efficiency, and serve the ever-expanding needs of Web3. 🌐✨
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Tokenomics:
CBT is the native token of their decentralized data network, designed to facilitate and incentivize various activities within the ecosystem. The tokenomics model aims to support a sustainable and secure network by aligning the incentives of all participants, ensuring the efficient operation of both the execution and consensus layers, and fostering ongoing development and usage of the network. 🌱🔒
CBT serves as a utility token for coordinating data providers and consumers within the network, incentivizing protocol participants to effectively organize data. 🔄💡
The CBT tokenomics model is designed to balance rewards, support network growth, and ensure long-term success.
Data Query Fees
Data developers pay CBT fees to query datasets created by their Manuscripts. These fees cover data retrieval costs and reward network resource providers, such as Operators and Validators. 💼📊 The fee distribution is as follows:
- 80% to Operators and their delegators to incentivize resource maintenance and optimization. 🔧🔄
- 15% to Developers to encourage high-quality data processing.
- 5% is burned. 🔥
Incentive Operator Pools
15% of the total CBT supply is allocated over 6 years to incentivize Operators. 2% of this amount is unlocked annually. Distribution is based on the quality and quantity of services provided by Operators. 📦🔓
Block Rewards
Block rewards support network bootstrap and sustainability with a -2% annual inflation rate. 100% of these rewards go to Validators and their delegators for maintaining network security and stability. 🛡⚙
Roles and Incentives
- Operators: Manage computing resources and ensure network stability. They receive 80% of data query fees and 100% of incentive pool rewards. 🌐
- Validators: Verify transactions and maintain consensus. They receive 100% of block rewards. 🔗
- Data Developers: Create data processing code and receive 15% of data query fees. 📊
- Delegators: Stake tokens to Validators and Operators, receiving a share of their rewards and additional incentives for supporting high-performance entities. 🤝💰
Economic Sustainability
- Inflation Control: Token issuance is capped at 3% per year. 🔒
- Utility Maintenance: CBT tokens are required for network activities, ensuring continuous demand. Fees can be adjusted based on network needs. 🔧🔄
- Economic Security: Staking aligns economic interests with network stability, and high-performing participants receive greater rewards. 🛡💰
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💸Fundraising:
💰 Total Funding Raised: $16.5 million, with significant rounds including:
- Series A: $15 million raised on July 18, 2024, led by Matrix Partners China and Tencent.
- Angel Round: $1.5 million raised on July 2, 2022, led by XVC. 👼
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Key Personnel and team members:
- Anna Chen: Director of Business Development.🚀(https://www.linkedin.com/in/anna-chen-02585bb3/)
- Yuxing Liao: Focuses on building decentralized frameworks, with a background as a VC/Data Scientist, based in Jing'an District. 🧠(https://www.linkedin.com/in/lewis-liao/)
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Social Media and Community Engagement:
- Telegram: 16,605 members, with active moderators. 📨👥
- Discord: They have 34,114 members and are currently active, posting once every 3-4 days on their announcement channel. Their global chat, along with moderators, is also online. 💬
- X: They have 160K followers and post 5-6 times daily, covering topics such as organizing AMAs, product updates, and collaborations, with an average view 50k-200k 🐦🔥
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Final Query for @ChainbaseHQ:
How does @ChainbaseHQ plan to address scalability challenges as blockchain technology and AI demands continue to grow? 🤖
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Got something incredible to share? Drop a comment and let's hear about it! 🚀✨
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