“Chainbase is becoming a leader in the full-chain data market. After receiving $15 million in Series A funding from Matrix Partners China and others, the project has now launched the Odyssey mission event “Chainbase Genesis” with airdrop expectations, providing ordinary users with the opportunity to participate in network construction.”
With the rapid development of on-chain applications and the trend of multi-chainization, the amount of on-chain data is growing exponentially. The dispersion and difficulty of interpreting multi-chain data have raised the threshold for obtaining real-time full-chain data. In recent years, AI has gradually taken a dominant position in the crypto market, and the urgent need for high-quality full-chain data has become a new challenge for the industry.
Chainbase, an emerging full-chain data network, is solving this pain point by building a data network architecture with dual consensus, and has received over $15 million in financing support from top VCs such as Matrix Partners China.
Chainbase is currently in the testnet stage and recently launched an Odyssey mission called "Chainbase Genesis", which provides ordinary users with the opportunity to participate in network construction. So, how to participate in this event? What is the expected value of this event? Let's find out.
The narrative side of Chainbase
Chainbase itself is an emerging full-chain data set, which not only incorporates the real-time data of the entire chain into its data network in a chain-abstract way, but also covers a wide range of off-chain data.
As a new generation of data ecology, the Chainbase network supports further programmability of data and has established a creator economy ecology with data at its core. Developers and scientists can join the network to compile "manuscripts" based on raw data to decode and govern raw data, and even meet the intentions of various data demanders in a more low-threshold and customized manner. Based on token incentives, developers and scientists will spontaneously join the Chainbase ecosystem to help govern and decode data, so as to continuously expand the scale of high-quality data in the network. Currently, the Chainbase network has cooperated with 15,000+ developers.
Based on a complete data system, Chainbase launched its own large AI model Theia. It is reported that the model is based on 8 billion general language model parameters and over 200 million Crypto parameters. It is trained through complex D2ORA algorithm and artificial intelligence technology, supports natural language interaction, significantly improves the user experience, and allows intuitive exploration And analyze blockchain data to obtain cutting-edge on-chain insights, and be more able to satisfy crypto users in a targeted manner. Currently, users can interact with models through Theia Chat Alpha.
From the perspective of system structure, Chainbase adopts a four-layer dual-chain architecture. This design can achieve high throughput and efficient operation of the network while ensuring decentralization, and guaranteeing the security of the network. At present, the Chainbase network processes about 110 million to 150 million full-chain data calls per day, and the total data call volume has exceeded 500 billion times, ensuring the orderly and efficient operation of the network.
Odyssey Mission Event “Chainbase Genesis”
After completing the financing, Chainbase launched a new Odyssey mission event "Chainbase Genesis", where users can complete a series of tasks according to the guidance on the mission page and receive "gem" incentives. These "gem" points will hopefully be exchanged for $C token airdrops after the token TGE. Chainbase hopes to guide more users to join the community construction and experience the Theia big model through this event.
The “Genesis” event page is: https://genesis.chainbase.com/
After entering the "Genesis" activity page, we can see the task list. The series of tasks are mainly divided into one-time tasks, monthly tasks and daily tasks.
Mission Tutorial
First we need to enter the activity page and link the wallet to enter the task page.
Daily tasks
Daily tasks are mainly interactive tasks with Theia, that is, users interact with the Theia AI robot every day (similar to using ChatGPT) and receive gem points rewards after completing the interaction.
Once you are on the chat page of the Theia master model, link your wallet and start the chat.
After linking your wallet, just talk to the AI robot.
After completing the conversation, verify the task.
Once validation is complete, the task will appear in the list of "Completed" tasks at the bottom.
One-time tasks
One-time tasks are mainly social media tasks, including following Twitter, joining and linking Discord communities, and establishing character information. After completing each task and completing verification, you will receive a certain amount of rewards.
Monthly Tasks
In the monthly task, the Chainbase system will link the user's wallet to the task interface, and evaluate the three indicators of account chain transaction activity, number of unique interactive addresses, and assets held, and give rewards respectively. Users can verify their account addresses every month and receive new rewards when the above indicators change.
Therefore, it is recommended that users link accounts in the Chainbase system mainly with active and high-quality accounts, so that they can obtain more incentives in monthly tasks.
In addition to the above tasks, users can also get more incentives by inviting other users to participate in the "Chainbase Genesis" event. Share the exclusive link with friends in the Referral section at the top. When users successfully participate in the "Chainbase Genesis" event through their invitation link, the invitation is completed and the invitation incentive is obtained.
Potential airdrop value expectations
From an industry perspective, the Odyssey mission is a favorable means for many ecosystems to achieve early launch, and many early users of many high-quality leading projects have received valuable token airdrops, including some well-known high-quality projects such as Layer Zero, Zetachain, io.net, Altlayer, Sleepless AI, etc.
Although Chainbase has not yet released a detailed economic model for the $C token, we can estimate the airdrop ratio and potential value of Chainbase’s tokens for the “Chainbase Genesis” event based on the early community airdrop ratios of the above-mentioned projects and the market value data of the relevant tokens at the time of TGE.
LayerZero used about 5% of the total token supply for airdrops, and the initial market value of ZRO tokens at TGE was approximately $200-300 million.
Zetachain used approximately 4.5% of its total token supply for airdrops, and the initial market value of ZETA tokens at the time of TGE was approximately $350 million.
io.net used about 1.8% of the total token supply for airdrops, and the initial market value of IO tokens at the time of TGE was approximately $400-500 million.
Altlayer used approximately 3% of the total token supply for airdrops, and the initial market cap of IO tokens at the time of the TGE was approximately $350 million.
Sleepless AI allocated approximately 1% of the total token supply for airdrops, and the initial market cap of IO tokens at the time of the TGE was approximately $150 million.
We can see that the token airdrop ratio of the above projects is between 1% and 5%, with 2% to 5% being the majority. We conservatively calculate it based on an airdrop ratio of 3% to 4%.
From the fundamentals of Chainbase, as a leading project in the field of on-chain data and an important infrastructure in the field of AI, its technological innovation and the breadth of its future business are particularly prominent. At present, Chainbase has established high-quality cooperative relationships with many industry-leading companies, including AltLayer, Alibaba Cloud, and io.net, which provides solid support for its future development. At the same time, Chainbase's profitability also adds room for imagination to its growth prospects. It is particularly noteworthy that Tencent and Jingwei, as the main investors in its Series A financing, further verify Chainbase's potential in long-term development.
From the token TGE, we conservatively valued it at $500 million, so we can roughly predict that the "Genesis" event is conservatively estimated to be worth about $20 million. Early bird participants will maintain their early bird advantage and are expected to capture higher airdrop income from the event.