In a significant development for the decentralized finance (DeFi) and artificial intelligence (AI) sectors, CoinW, a leading cryptocurrency trading platform, has announced the initial listing of GRASS token. Set to launch on October 28th, 2024, at 14:00 UTC, GRASS represents a groundbreaking project in the decentralized physical infrastructure network (DePIN) space, aiming to revolutionize data access for AI applications.
GRASS is the native token of Grass, a decentralized network designed to collect and structure public web data, creating a vital resource hub for AI model training. With an impressive network of nearly 2.5 million user-run nodes worldwide, Grass has already demonstrated its capacity to gather extensive data, including over 500,000 media articles, utilizing shared internet bandwidth from its participants.
The project’s innovative approach, dubbed ‘Sovereign Data Rollup,’ offers a compelling alternative to traditional data acquisition methods. By providing companies, researchers, and non-profits with an ethical, community-powered solution, Grass challenges the data monopolies long held by a handful of corporations. This democratization of data access could have far-reaching implications for AI development and applications across various industries.
One of Grass’s key innovations is Socrates, a unique dataset cleaning tool that enables users to provide high-quality, structured data essential for AI applications. This feature addresses a critical need in the AI industry for clean, well-organized data, potentially accelerating AI development and improving model accuracy.
The GRASS token lies at the heart of the network’s functionality, allowing holders to engage in transactions, staking, and governance within the ecosystem. As the network scales, token holders will have the opportunity to stake GRASS tokens to support network traffic, earn rewards, and participate in voting on key decisions, including proposals and partnerships.
With a total supply of 1 billion tokens, the GRASS distribution model is designed to support network growth and incentivize user participation. The allocation structure includes provisions for investors, teams, airdrops, and community rewards, aiming to create a sustainable and equitable data ecosystem.
The listing on CoinW is accompanied by a celebratory ‘GRASS bounty program: Register & Trade & Retweet’ event, featuring a reward pool of 10,000 USDT. This initiative, running from the listing date until November 4th, 2024, at 16:00 UTC, aims to boost community engagement and trading activity.
Grass has already built a substantial community, boasting 468,000 Twitter followers and an active Discord with 430,000 members. The project’s recent airdrop and ongoing referral program have further expanded community involvement, with users earning points for contributing network resources. These points are set to convert into network ownership as the project progresses, aligning with Grass’s vision of a decentralized, transparent data network.
By leveraging Solana’s low-cost and efficient technology, Grass positions itself as a pivotal player in the Web3 ecosystem. The project offers a decentralized alternative to conventional, centralized data sources, potentially disrupting the current data landscape and opening new possibilities for AI development and application.
The listing of GRASS on CoinW marks a significant milestone in the convergence of DeFi, AI, and decentralized data networks. As the demand for ethical, transparent, and community-driven data solutions continues to grow, projects like Grass could play a crucial role in shaping the future of data access and AI development. Investors, AI researchers, and tech enthusiasts will be watching closely as GRASS makes its debut on the cryptocurrency market, potentially setting new standards for decentralized data networks in the AI era.
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