Erik Voorhees Launches VVV Token on Ethereum Layer 2 Base with Venice AI Platform

Erik Voorhees, known for his pioneering work in crypto with ShapeShift and DEX platform Thorchain, has also ventured into the realm of artificial intelligence with Venice AI, a platform emphasizing privacy and decentralization. Today, Venice announced the introduction of its VVV token on the Ethereum Layer 2 network, Base, marking a significant step in integrating blockchain technology with AI.
Venice stands out by offering services that respect user privacy and resist censorship, using open-source AI models and decentralized infrastructure. The platform aims to democratize AI by providing access to uncensored and decentralized inference, allowing AI agents, bots, and developers to bypass traditional banking intermediaries for a more cost-effective and frictionless experience.
VVV Token Distribution and Utility
The VVV token's distribution strategy is particularly noteworthy. Out of the 100 million tokens minted, half are set aside for distribution. Specifically, 25 million tokens are allocated to Venice's existing user base, which exceeds 100,000 individuals. Another 25 million tokens are directed towards AI community projects on the Base blockchain.
Regarding the tokenomics, Venice has allocated 35 million VVV tokens to itself, with a portion earmarked for the team, vesting over time to ensure long-term alignment with the project's success. An additional 10 million tokens fund the "Venice Incentive Fund," and 5 million are designated for liquidity provision. The platform plans to use Aerodrome, a decentralized exchange on Base, for providing liquidity, where stakers of VVV tokens will enjoy benefits like yield and unlimited access to Venice's API, at no additional cost. This approach is designed to scale with the platform's growth, offering a unique economic model where token holders benefit as the demand for Venice's services increases.
However, the VVV token does not confer governance rights, focusing instead on utility and incentivization through staking and usage rewards. An annual addition of 14 million tokens introduces a controlled inflation rate intended to decrease over time, managed by what Venice calls the "Utilization Rate," reflecting actual demand for its services.
As part of the launch, Venice is airdropping VVV tokens to Venice AI users. Erik Voorhees said in a post on X, "Thank you for pioneering with us. At current prices, $250,000,000 has been airdropped to over 150,000 of you." You can claim the airdropped token on Venice AI here.
Dear https://t.co/m2jsJuDuXS users, thank you for pioneering with us.
— Erik Voorhees (@ErikVoorhees) January 27, 2025
At current prices, $250,000,000 has been airdropped to over 150,000 of you.
VVV 0xacfE6019Ed1A7Dc6f7B508C02d1b04ec88cC21bf
The future will not be centralized.
Since its inception, Venice AI has reportedly attracted over 150,000 registered users, with a significant daily active user base and making thousands of inference requests hourly. This growth underscores the platform's appeal in an era where AI's integration into daily life is increasing, yet concerns about privacy and control loom large.
Venice's revenue model includes a pro version that offers enhanced features and access to specialized AI platforms, promising privacy by ensuring conversations are stored only in users' local browsers, not on centralized servers. This approach not only aligns with the ethos of blockchain but also responds to growing privacy concerns in AI technology.