What is NetMind Token (NMT)？
NetMind Power is a platform for Machine Learning and AI training, fine-tuning and inference, aimed at machine learning professionals, researchers, and software developers.
NetMind's mission is to create a global network of computing power for AI models by utilizing the idle GPUs of users worldwide. As part of this mission, NetMind Power provides a platform for large-scale distributed computing, integrating heterogeneous computing resources globally, and leveraging grid and voluntary computing scheduling architecture and load balancing technology. The NetMind power network is built upon and governed using the blockchain, NetMind Chain. NetMind Chain enables the decentralization of all tasks, transactions and functions that occur on the platform. To be clear, the training process happens locally on the machines being used for training, not on the blockchain.
The operation of the blockchain will be facilitated by usage of a utility token, NMT (NetMind Token). NetMind Token (NMT) is the native utility token of the NetMind Chain.
How Many NMT Are There in Circulation?
The total supply of NMT is 10 billion tokens. All tokens are locked in a smart contract, which will gradually unlock the tokens according to the distribution plan outlined below.
- 40% of the total supply (4 billion NMT) is allocated as rewards for providers of computational power to the network, used for training and inference. This reward is known as the Volunteer Computing Network Connection Reward
- 30% of the total supply is reserved for rewarding users who participate in staking. Users can choose to stake against any Mind Node, with an incentive to stake against the top 21 (Master Nodes).
- 20% of the total supply (2 billion NMT) is reserved for the NetMind DAO community.
- 10% of the total supply (1 billion NMT) is reserved for the NetMind technical team.Tokens will be unlocked at a rate of 0.1% annually over 100 years.
Who Are the Founders of NMT?
NetMind Power, a decentralized computing platform, is developed by NetMind.AI, an AI research and software company based in London, UK.