Erik Voorhees’ Venice AI Launches DIEM Tradeable Token on Base Network

Venice, a privacy-focused artificial intelligence platform launched in May 2024 by Bitcoin pioneer Erik Voorhees, has introduced DIEM, a new token designed to transform AI compute into a tradeable and perpetual asset. This development aims to redefine how developers and users access AI resources by offering a unique model that prioritizes ownership, privacy, and decentralization.

Built on Ethereum’s Layer-2 Base network, DIEM integrates seamlessly with Venice’s existing VVV token ecosystem, creating new economic opportunities for AI compute access. With over 1 million daily API inference requests, Venice is rapidly gaining traction as a go-to platform for private and uncensored AI services.

A New Era for AI Compute

The DIEM token represents a significant leap forward in the AI and blockchain space, offering holders $1 worth of daily API credit in perpetuity. Unlike traditional models where compute resources are rented on a per-use basis, DIEM enables users to own a share of AI inference power, making it transferable and programmable. This tokenized approach allows developers and AI agents to access Venice’s advanced text and image models without the constraints of centralized surveillance or pay-per-request systems. By leveraging blockchain, Venice ensures that API access remains private and uncensored, aligning with its mission to provide permissionless machine intelligence.

Minting DIEM tokens is an exclusive feature for VVV holders, who must lock their staked VVV (sVVV) to generate the new tokens. While locked, stakers continue to earn 80% of the usual VVV yield, maintaining the financial incentives of holding the platform’s native token. DIEM tokens can be staked for API access, traded on Base-based decentralized exchanges like Aerodrome, or burned to unlock the original VVV, offering flexibility for users. This system not only incentivizes participation in Venice’s ecosystem but also creates a sustainable model for AI compute distribution.

The introduction of DIEM opens up innovative economic models for AI compute resources. Developers can integrate Venice’s API into tools like Cursor and VSCode, gaining guaranteed access to private inference capabilities. DeFi protocols and decentralized autonomous organizations (DAOs) can collateralize or distribute DIEM tokens, embedding AI compute costs directly into their tokenomics. The minting algorithm dynamically adjusts the supply based on demand, ensuring long-term sustainability and scalability for the platform.

Venice’s API usage has seen remarkable growth, processing over 1 million daily inference requests as developers recognize the value of its privacy-first approach. The platform’s ability to handle high volumes of requests underscores its technical robustness and market demand. By offering a decentralized alternative to mainstream AI platforms, Venice is positioning itself as a leader in the convergence of AI and blockchain. The DIEM token further enhances this vision, enabling users to trade, transfer, or stake their AI compute assets as ERC20 tokens on the Base network.

Since its debut in January 2025, VVV achieved a fully diluted valuation of $1.65 billion, reflecting strong investor confidence in Venice’s mission. The platform’s airdrop of 50 million VVV tokens to users and AI communities on Base further solidified its community-driven approach. With DIEM, Venice is doubling down on its commitment to decentralizing AI access, offering a novel solution that empowers developers, AI agents, and DeFi participants.