The privacy-focused AI platform Venice has launched the VVV token on the Base L2 solution. Half of the initial coin offering is distributed among users and decentralized communities.
Venice’s mission is to provide permissionless access to private and uncensored machine intelligence
Since launch in May 2024
• 400,000 registered users
• 50,000 DAU
• 15,000 inference requests per hourToday, we open our API to the public for AI agents, devs, and 3rd party… pic.twitter.com/75V8ePC2tO
— Venice (@AskVenice) January 27, 2025
The VVV token combines the advantages of blockchain technology and generative AI, enabling autonomous agents, bots, and developers to access uncensored and decentralized inference—the ability of AI to interpret data. The proprietary API and absence of intermediaries reduce costs and eliminate barriers compared to closed proprietary AI services, the project’s statement notes.
Using the token is not a mandatory requirement for working with the platform.
VVV Tokenomics
A snapshot was taken on December 31. Of the 100 million tokens initially issued, 25 million VVV are distributed among Venice users, and another 25 million VVV among decentralized AI communities on Base. These include projects like Virtuals and agents such as Luna, aixbt, and VaderAI. Among the recipients are also 200 registered developers of Coinbase AgentKit.
Claims can be submitted until March 13. No VVV presale was conducted.
Of the remaining genesis issuance, 35 million VVV (35%) are allocated to Venice. Of these, 10 million tokens (10%) are designated for the project team with an immediate unlocking of 25% and subsequent vesting over 24 months. Another 10 million VVV are reserved for the Venice Incentive Fund; 5 million coins are for liquidity provision.
Venice will provide liquidity through a pool on the Base exchange Aerodrome. VVV token stakers will be able to earn yields and gain perpetual access to the Venice API for inference, eliminating additional costs and making AI interaction accessible.
The asset does not provide any governance privileges.
Annually, 14 million VVV tokens will enter the market. The initial inflation rate of 14% will gradually decrease.
The new issuance is to be distributed among users according to the Utilization Rate—a metric reflecting demand for the Venice API.
Launched in May by ShapeShift founder Eric Voorhees, the platform is positioned as an alternative to centralized models like OpenAI’s ChatGPT, Anthropic’s Claude, and Google’s Gemini.
The number of registered Venice users has reached 450,000.
As reported, nearly a quarter of surveyed Binance users identified AI tokens as the most promising.