POW+AI dual narrative, computing power rental platform Clore.AI increased 10 times in the month

LD Capital

2023-11-29 17:00

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Original author: duoduo, LD Capital

With the strong breakthroughs of KAS and TAO, entering the top 50 in market capitalization, POW, a new coin in the POW system, has attracted market attention. POW tokens with good narratives, solid fundamentals, and low market capitalization have generally achieved good gains. These new POW tokens are often associated with concepts such as artificial intelligence, computing power services, and the Internet of Things, emphasizing "Proof of Useful Work" (PoUW). This report introduces Clore.AI, a computing power leasing platform with a dual narrative of POW and AI.

One, Basic Information

Clore.AI is a platform that provides GPU computing rental services based on POW, currently with access to over 5500 GPUs. The team is located in Europe and the official website claims to comply with European laws. They plan to publicly disclose team information in December 2023.

The total token quantity is 1.3 billion, and the current circulating token quantity is 222,287,324. The market value is approximately 55 million US dollars. The token started mining in June 2022. Since its launch on the exchange, the lowest price was 0.0059. In November 2023, it hit a new high consecutively, and the current highest price is 0.27. It has achieved a 10-fold increase in the past 30 days.

More than 80% of tokens are traded on Matcha, and 10% on Gate. The trading volume has continued to increase in the past month, from around $1 million at the beginning of the month to over $10 million currently.

二、算力行业背景

translates to

2. Computing Power Industry Background

With the development and maturity of internet technology, humans need to seek new technological breakthroughs in order to obtain new economic growth points. Artificial intelligence has become the direction of a new round of technological revolution. With the phased success of ChatGPT and the continuous development of intelligent driving, computing power has become the new infrastructure.

NVIDIA CEO Jensen Huang pointed out in an interview that 2023 is just the beginning of construction, and the AI boom will last at least until 2025. According to the "2023 AI Status Report" released by AI venture capital firm Air Street Capital, large technology companies are building A100 cluster centers, and more investments are expected to be added in 2024. The top H100 AI processor is expected to have a shipment volume of 1.5 million to 2 million in 2024, at least twice the expected shipment volume of 500,000 this year. For small and medium-sized technology companies, third-party computing power service platforms are also an option.

In this context, the POW+AI computing power service project has attracted attention. Through the blockchain model, it aggregates more computing resources and provides them to individuals and organizations in need of computing power services.

Three, Products and Services

Business Model

Clore.AI is a GPU computing rental platform. In its business model, people who own NVIDIA GPU computers can connect their GPUs to the network and receive CLORE token incentives. People with computing service needs can rent computing power.

The business scope includes: artificial intelligence training, movie rendering, VPN, cryptocurrency mining, etc. When there is a specific computing power service demand, complete the task assigned by the network; if there is no computing power service demand, the network will find the cryptocurrency with the highest mining profitability at that time and participate in mining.

Product Price

Specific GPU models, configurations, and rental prices can be viewed on the official website. The party providing computing power can receive CLORE tokens as a reward; the better the server's performance, the more rewards they can receive. The party using computing power can pay with CLORE, BTC, or USD.

The main chips in this market are the RTX30 and RTX40 series. These are the new generation high-performance graphics cards with ray tracing function launched by NVIDIA in 2018, which are in the mid-to-high-end series of the entire NVIDIA chip system. They are mainly used in gaming, creation, rendering and other activities. The RTX40 series is known as the "ultimate platform for gamers and creators". For large-scale artificial intelligence training, the latest H100 and A100 chips are more commonly used. Therefore, according to the current computing power configuration of Clore.AI, movie rendering and mining may be easier to execute, while artificial intelligence training and large-scale computing may be weaker than large-scale computing centers.

Users can check the specific model, configuration, and price on the official website.

Network Data

On the official website, it can be seen that there are over 5500 GPUs in the network, with approximately 5000 rented and nearly 30000 orders already fulfilled. The number of accessed GPUs is on the rise. In July, the number was around 2000 at its lowest point, and it has more than doubled in the past six months.

With the rise in prices, miner profits have increased, and the GPU computing power ratio has grown rapidly in the past week, from around 1.6% to 3%.

Four, Token Economics

CLORE is a POW token that uses the kawpow algorithm, similar to RavenCoin, and is resistant to ASIC mining. There was no pre-mining or ICO for the token, with 50% of each block's rewards going to miners, 40% to lessors, and 10% to the team.

The total amount of tokens is 1.3 billion, and mining began in June 2022. By 2042, it will basically enter full circulation. The current circulation is approximately 220 million. By the end of 2023, the circulation will be about 250 million, accounting for 20% of the total token amount. By the end of 2024, it will be 460 million, accounting for 35% of the total token amount. By the end of 2025, it will be 620 million, accounting for 48% of the total token amount.

The token release is as follows:

The content you provided is:

持有证明系统（POH）. Translated to English, it would be:

Proof of Holding System (POH).

The project proposes the concept of Proof of Holding (POH) system to incentivize users holding CLORE tokens. When participating in the system, token holders keep their CLORE tokens in their own wallets without any lock-up period and with free access. The more CLORE tokens held, the greater the rewards obtained when renting out equipment; and up to 50% discount on rental fees when using equipment. Currently, there are approximately 56 million tokens participating in POH, accounting for about 25% of the current circulation.