Article Summary, Automatically Generated By AI
Here is a summary of the text in HTML format:
Summary
Key Figures
- 10 billion: Total supply of NMT tokens
- 4 billion: Tokens allocated for Volunteer Computing Network Connection Reward
- 3 billion: Tokens reserved for staking rewards
- 2 billion: Tokens reserved for NetMind DAO community
- 1 billion: Tokens reserved for NetMind technical team
- 0.1%: Annual unlock rate of tokens over 100 years
Case Studies and Examples
- NetMind Power: A decentralized computing platform for Machine Learning and AI training, fine-tuning, and inference
Introducing NetMind Token: Empowering a New Era of Innovation
The Circulating Supply of NMT: A Closer Look
The total supply of NMT is capped at 10 billion tokens, all of which are securely stored in a smart contract. This contract is programmed to release the tokens in a phased manner, adhering to the predetermined distribution plan outlined below.
- A substantial 40% of the total supply, equivalent to 4 billion NMT, is earmarked as incentives for providers of computational power to the network, utilized for training and inference purposes. This reward is formally recognized as the Volunteer Computing Network Connection Reward.
- A significant 30% of the total supply is set aside to reward users who participate in staking. Users are afforded the flexibility to stake against any Mind Node, with a compelling incentive to stake against the top 21 (Master Nodes), thereby fostering a competitive environment.
- A notable 20% of the total supply, amounting to 2 billion NMT, is reserved for the NetMind DAO community, empowering them to drive growth and development.
- A modest 10% of the total supply, equivalent to 1 billion NMT, is allocated to the NetMind technical team. These tokens will be unlocked at a rate of 0.1% annually over a period of 100 years, ensuring a sustained and gradual release of tokens.
The Visionaries Behind NMT: Meet the Founders
NetMind Power, a pioneering decentralized computing platform, is the brainchild of NetMind.AI, a London, UK-based AI research and software company at the forefront of innovation.
Introducing NetMind Token (NMT): A Revolutionary Cryptocurrency
NetMind Power is a cutting-edge platform tailored to facilitate Machine Learning and AI training, fine-tuning, and inference, catering specifically to the needs of machine learning professionals, researchers, and software developers.
NetMind’s mission is to establish a global network of computing power for AI models by harnessing the underutilized GPUs of users worldwide. As part of this endeavor, NetMind Power offers a platform for large-scale distributed computing, seamlessly integrating heterogeneous computing resources globally, and leveraging cutting-edge grid and voluntary computing scheduling architecture and load balancing technology. The NetMind power network is built upon and governed by the blockchain, NetMind Chain, which enables the decentralization of all tasks, transactions, and functions that occur on the platform. Notably, the training process takes place locally on the machines being utilized for training, rather than on the blockchain itself.
The blockchain’s operational efficacy will be facilitated through the strategic utilization of a utility token, NMT (NetMind Token), which serves as the native utility token of the NetMind Chain.