What is the FLock.io Platform?

FLock.io is at the forefront of decentralized AI (dAI) development, tackling the limitations imposed by centralized control over AI innovation. When large corporations dictate AI development based on their own agendas, it often leads to amplified biases, reduced public participation, and errors stemming from lower-quality training data.

FLock.io addresses these challenges by integrating blockchain technology with federated learning, enabling communities to propose, train, and enhance models transparently while retaining control over their data. This approach eliminates centralized bottlenecks, promotes fair reward distribution, and fosters the development of ethical, high-quality AI models.

The platform comprises three core components: AI Arena, FL Alliance, and AI Marketplace. In AI Arena, models are trained and validated; in FL Alliance, they are fine-tuned with local data; and in AI Marketplace, models are deployed for applications, continuously improved through feedback. Supporting diverse use cases in industries like finance, healthcare, and gaming, FLock.io has achieved over 10,000 model calls with models like BTC-GPT.

What Can Be Done on FLock.io?

FLock.io offers a suite of tools to streamline participation in AI model development:

• AI Arena: A decentralized AI training platform where users can stake $FLOCK via train.flock.io to participate and earn rewards. Participation is possible in four roles:

  • Task Creators: Define desired models and submit tasks to the platform.

  • Training Nodes: Develop or fine-tune models as required by task creators.

  • Validators: Evaluate models submitted by training nodes.

  • Delegators: Delegate tokens to training nodes and validators to boost reward distribution.

• FL Alliance: Using a federated learning approach, thousands of participants collaboratively train a global model without sharing local data. Participants are randomly assigned as proposers (training models with local data) or voters (evaluating model updates). FLocKit provides predefined templates for tasks like LLM fine-tuning, while FL Client facilitates interaction with smart contracts and manages system-level coordination.

• AI Marketplace: A collaborative space where trained and fine-tuned models are created, enhanced, and utilized by the community. Users can propose models, contribute data, evaluate models, or apply them in various applications. Models like BTC-GPT leverage external database integration and RAG for domain-specific accuracy.

Technical Infrastructure and Security

FLock.io leverages its blockchain layer to enhance incentives and security. A proof-of-stake mechanism ensures participants uphold network integrity, with dishonest behavior penalized through token slashing. Smart contracts automate reward distribution, ensuring transparency and efficiency. AI Arena supports direct model training on user devices, maximizing performance with community data. FL Alliance preserves data privacy while enabling global model creation. The AI Marketplace facilitates model deployment and inference within virtual machine networks, ensuring scalability and security.

$FLOCK Token and Tokenomics

$FLOCK, deployed on the Base network, is the cornerstone of FLock.io’s permissionless, high-performance, decentralized AI ecosystem. It incentivizes participation and secures the network. The tokenomics distribution is as follows:

• Community: 47%

• Team and Advisors: 17%

• Ecosystem: 19.70%

• Investors: 16.30%

In AI Arena, developers compete to build top AI models in a Kaggle-style leaderboard. In FL Alliance, models from AI Arena are fine-tuned with proprietary data. The AI Marketplace enables community members to use or host these models. Participants earn rewards based on their staked $FLOCK, while malicious actions result in token slashing.

2025 Roadmap

FLock.io’s 2025 roadmap strengthens its decentralized AI vision:

• Q1 2025: Strategic partnerships with Web2 and Web3 entities like Animoca Brands and OneKey will be launched. FL Alliance will debut on testnet, and a decentralization plan will be published.

• Q2 2025: An Edge AI model for distributed device training and Moonbase Beta, an AI agent platform, will be introduced. AI Arena v2 will roll out with upgraded staking functions.

• Q3 2025: Integrations with AI agent and application platforms will enable seamless onboarding, and community members will gain the ability to create AI model training tasks.

• Q4 2025: Moonbase Stage 2 and 3 will enhance AI agent interactions, and the Sustainable Model Flywheel will create a self-sustaining ecosystem for model training and usage.

FLock.io Investors and Backers

FLock.io is backed by industry leaders, including Digital Currency Group (DCG), OKX Ventures, GSR, Fenbushi Capital, Faction, Animoca Brands, Volt Capital, Inception Capital, Gnosis, a41 Ventures, Bas1s Ventures, and Tagus Capital. These strategic and seed investors bolster FLock.io’s mission to advance decentralized AI and amplify its global impact.

FLock.io Team

The FLock.io team is led by accomplished professionals. Founder and CEO Jiahao Sun drives the platform’s vision, while CFO Vincent Z. Wang oversees financial strategies. Sameeha Rehman, as Chief of Staff, coordinates operational processes. This leadership team propels FLock.io’s goal of pioneering decentralized AI and blockchain integration.

FLock.io revolutionizes decentralized AI development, fostering ethical and transparent AI growth driven by communities. Powered by blockchain technology, the platform protects data privacy while delivering innovative AI solutions, placing the future of technology in the hands of its community.

Official Links

• Website
• X (Twitter)
• Whitepaper

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Nomic, which operates with its native token NOM, has partnered with the bitcoin staking protocol Babylon to introduce the LST. This collaboration aims to enhance Nomic’s security by allowing dual-staking using staked Bitcoin and staked NOM, as per a statement from Nomic developers.

Through Babylon, individuals can stake their bitcoin to Nomic, earning rewards in NOM and nBTC, which can be redeemed for bitcoin. The nBTC cryptocurrency represents a 1:1 ownership of bitcoin in a token format compatible with the Inter-Blockchain Communication Protocol (IBC). This standardized protocol enables seamless transactions between various blockchains, allowing users to utilize nBTC on decentralized platforms like Cosmos exchange Osmosis, the Cosmos Hub, and other DeFi protocols.

Nomic plans to conduct a funding round later this year. While stBTC is currently in the testing phase, it will transition to the mainnet once Babylon does the same, according to a spokesperson from Nomic. Turbofish, a blockchain technology firm, is the founder and contributor to Nomic.

Turbofish CEO Matt Bell emphasized the significance of Nomic and Babylon in providing essential primitives to Bitcoin, such as decentralized custody and staking. He stated, “By pairing the two, their impact is magnified, making a more practical solution for the average Bitcoin holder to earn yield through staking. With innovations like stBTC emerging, Bitcoin DeFi now has the potential to compete with the trading volumes and total value locked of Ethereum DeFi.”

Babylon’s progress

Babylon enables BTC holders to earn rewards by staking their assets on proof-of-stake blockchains. The platform’s developers initiated its first testnet on Feb. 28 this year.

In early December 2023, Babylon secured $18 million in a Series A funding round co-led by Polychain Capital and Hack VC, with additional backing from Framework Ventures, Polygon Ventures, Castle Island Ventures, OKX Ventures, and Symbolic Capital.

The post Nomic and Babylon Partner to Launch Liquid Bitcoin Staking with stBTC Token appeared first on Coin Engineer.

The BounceBit chain operates as a proof-of-stake (PoS) Layer 1 network, employing a distinctive dual-token system that combines the security of native BTC with full compatibility with the Ethereum Virtual Machine (EVM). Through BTC Restaking, BounceBit provides shared security for its infrastructure and decentralized applications (DApps). For example, bridges and oracles will undergo validation through restaked BTC.

Dora Yue, the Founder of OKX Ventures, commented: “BounceBit has revolutionized the value and utility of BTC. By implementing a dual-token system, BounceBit seamlessly integrates features from both centralized finance (CeFi) and decentralized finance (DeFi), achieving elevated levels of security and cross-chain interoperability. BounceBit’s offerings empower BTC holders to earn profits across various networks and contribute to enhancing the value of the entire BTC ecosystem. We eagerly anticipate the upcoming Bitcoin halving event, which is expected to attract a wider user base and facilitate additional use cases for BTC.”

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OKX Ventures, HashKey Capital, Bankless Ventures, Primitive Ventures, SevenX, Mask Network, IOSG, and TRGC participated in the round in 2023.

According to the announcement, the new capital will be used to expand the AltLayer team and further develop the fundraising infrastructure. However, the team did not announce what valuation was reached.

This rise came after AltLayer launched its token last month and rewarded those who staked on Celestia and EigenLayer, the owners of AltLayer’s NFTs, and those who participated in community campaigns.

The first airdrop constituted approximately 300 million ALT token ($141 million) or 3% of the total supply, and 83% of the tokens were claimed.

What is AltLayer?

AltLayer is a fully open and decentralized protocol developed for many Roll-ups. AltLayer offers innovations such as high security, interoperability, and decentralization.

The project has developed this opportunities through a system called Restaked Roll-up. Thanks to Restaked, Roll-ups can be produced in the fastest and safest way by using Roll-up stacks such as OP Stack, Arbitrum Orbit, ZKStack, Polygon CDK. In addition, the EigenLayer restaking mechanism is used in this system to create a decentralized network.

What Does It Do?

The Restaked Roll-ups in the project use the system of Actively Verified Services (AVS). They are divided into 3: VITAL (AVS for Decentralized Verification), MACH (AVS for Fast Results), SQUAD (AVS for Decentralized Ranking).

It is exactly such a protocol that offers many opportunities to its users. There is an opportunity for non-developers and users who do not know how to code to produce customized Roll-ups in a very short time like 2 minutes.

The post AltLayer Raised $14.4 Million in Investment Round! appeared first on Coin Engineer.

What is Connext (Next) ?

So what is Connex Network ? Developers can use Connext as an open protocol to build applications that simultaneously interact with any token and deploy them on any network.

Since its inception in 2017, the project’s mission has been to make Web3 more accessible to every user by abstracting away the complexities of blockchain. While Connext isn’t a bridge itself, it serves as a seamless and permissionless foundation for developers to create groundbreaking applications and experiences within a growing, primitive ecosystem.

What Are the Components of the Connext Protocol?

xCall: It is the fundamental cross-chain principle that utilizes the Canonical Bridge at its core, enabling interaction with meaningful cross-chain messages for security.

Chain Abstraction Layer: It allows users to interact with a dApp from any chain, enabling projects to integrate users from any ecosystem into their own.

xERC20 and Copying via Connext: It is a new open standard that allows tokens to move seamlessly between chains with zero slippage while being compatible with other bridges simultaneously, without taking ownership of tokens from token holders.

xGovernance: A codeless toolkit for inter-chain DAOs (coming soon!).

You might like: Suspicious $40M Crypto Outflows from Hack Concerns

What is Next Token ? 

NEXT, as a cross-chain xERC20 token on the Connext Network, supports fair usage and governance within the Connext Network.

Upon its release, NEXT will be used to govern the Connext DAO, which is responsible for raising funds for the ongoing development of the protocol.

Chance to Win NEXT Token Airdrop!

The NEXT airdrop can be claimed today, September 5, 2023, at 13:00 UTC on the Arbitrum, Optimism, Polygon, or Gnosis networks. You have until April 6, 2024, at 13:00 UTC to claim your tokens.

Initial Supply: 107,500,000 tokens (10.75% of the total supply)

To claim and control your tokens, please visit: Connext Network Airdrop

Additionally, at the same time, NEXT tokens will be listed on the ByBit exchange today at 13:00 UTC. If you are not registered with Bybit, you can take advantage of various opportunities by signing up with our 10% discounted registration link.

• The snapshot was taken on August 1, 2023.
• Contract Address: 0xFE67A4450907459c3e1FFf623aA927dD4e28c67a

What are the Requirements for Winning?

1. Have a total volume of at least $200, calculated across all transactions, with each transfer averaging at least $15 (across all transactions, as calculated).
2. Provide at least $1,500 in liquidity to the Connext Network for a minimum duration of 1 day.

Both of these criteria yield 1 point each. Here’s how you can accumulate your points:

Note: Unless otherwise specified, each condition grants 1 point.

Point System for Stablecoin Pool Trading Activity:

• Interacted with stablecoin pool swaps at least 25 times.
• Interacted with stablecoin pool swaps at least 50 times.
• Interacted with stablecoin pool swaps at least 100 times.
• Provided liquidity of at least $3,000 (2 points).
• Provided liquidity of at least $6,000 (2 points).
• Provided liquidity of at least $9,000 (2 points).
• Provided liquidity of at least $12,000 (2 points).
• Provided liquidity for at least 30 days.
• Provided liquidity for at least 60 days.

Bridge Usage Point System:

• 10 or more bridging transactions.
• 25 or more bridging transactions.
• 50 or more bridging transactions.
• Transactions conducted in at least 3 different months.
• Transactions conducted in at least 6 different months.
• Transactions conducted in at least 9 different months.
• Transactions conducted in at least 12 different months.
• Transactions worth at least $1,000 in V2.
• Transactions worth at least $2,500 in V2.
• Transactions worth at least $5,000 in V2.
• 6 or more transfers between different chains.
• 10 or more transfers between different chains.

Factors:

Partnership with another protocol will result in a multiplication of your points.

(1.5x Multiplier)

If you have interacted with NXTP, introduced at least once in November 2021, by adding liquidity or engaging in bridging, your points will be added to your scoring system, calculated vectorially.

Source: Airdrop Details

The distribution of NEXT Tokens is as follows:

Early Supporters: 23.43% Ecosystem and Strategic Supporters: 11.24% Early Team and Advisors: 11.61% Proxima Labs: 3.78%

For the community:

For DAO: 29.44% For Airdrop: 10.56% For Foundation: 10.94%

In total, the allocation for the community is 50.94%.

CONNEXT PROTOCOL INVESTORS:

Connext Protocol has raised a total investment of $21.7 million from various investment firms, including Polychain Capital, Polygon, Coinbase Ventures, OKX Ventures. With the latest investments, the market valuation of the CONNEXT Protocol is $250 million.

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The post What is Connext Network? How to Earn NEXT Token Airdrop? appeared first on Coin Engineer.