AINN Layer2, a decentralized Bitcoin Layer2 network positioned for large-scale AI applications, has seen an astonishing surge in its TVL to $622 million since the opening of its staking at the beginning of this month, surpassing other well-known Bitcoin L2 projects.
According to DeFiLlama data, AINN Layer2, which is the top project in terms of TVL on the Bitcoin chain, has reached $622 million in less than a month since its staking was opened. It is an ecosystem project of AI token $AINN (the 12th largest BRC20 token) with a market value of $33 million. Its TVL has exceeded that of Bitcoin L2 project B2 Network, which stands at $551 million.
AINN Layer2 is a decentralized Bitcoin Layer2 network that supports large-scale artificial intelligence (AI) applications, with security being overseen by blockchain security company ScaleBit. It went live on the testnet on March 13th and announced strategic investments from several well-known institutions in the BTC ecosystem, including Waterdrip Capital, Satoshi Lab, Foundinals Lab, Monday Capital, AlNN Labs, Bitrise Capital, Genblock Capital, exchange AscendEx, and Bitmart’s fund Cipholio Ventures, as well as several well-known KOLs in the BTC ecosystem, although the specific amount was not disclosed.
On March 31st, AINN Layer2 launched its mainnet and started the staking activity “AINN Layer2 Dataset” the next day. Participants can stake various assets such as Bitcoin, $AINN, $SATS, $ORDI, and $RATS, which are more diverse than mainstream platforms like B2 Network and BounceBit.
As stakers can earn points and receive airdrops of its native token $ANVM in the future, it has attracted a large number of users. However, stakers are expected to wait until June to withdraw their funds.
The official website provides clear staking guidelines, and interested readers can refer to the BTC staking guide and the BRC20 staking guide. As an incentive for early users, the project also airdropped the Ordinals NFT – AINN Rune Star to the first 10,000 stakers. The floor price of this NFT reached 0.0005 BTC (approximately $33) at one point and will further airdrop runes.
AINN Layer2’s vision is to deploy thousands of AI applications on its platform, with billions of users utilizing AI products on AINN Layer2 to shape the blueprint of web3+AI ecosystem.
The project is dedicated to building decentralized AI infrastructure to support the development of decentralized AI applications. It plans to launch the “AI Odyssey” event, allowing users to interact with a range of web3+AI products, including AI-generated text, images, and videos. However, there is still no news about this event after nearly a month.
AINN Layer2’s official statement claims that more than 100 AI startups are actively participating in the development of its ecosystem.
According to the official website, AINN Layer2’s AI application core lies in the operation of subnets and the management of the AI protocol controller. Subnets are different parts of the network, each designed to meet the specific AI model requirements, ensuring that specific AI requirements can be met within specific subnets and allowing for interaction and evaluation between miners and validators.
The AI protocol controller is an intelligent contract responsible for managing the registration, deregistration, rewards, and ratings of validators and miners, as well as overseeing the creation and closure of subnets.
The official website also states that one of the uses of $ANVM is to reward AI model training.
In the future, AINN Layer2 plans to launch the “AI Odyssey” event, which will be similar to the AI robot project MyShell, which was invested by Dragonfly and initially focused on building chatbots for text, images, and voice. MyShell recently collaborated with RaaS platform AltLayer to launch MyShell Layer2, focusing on AI consumer applications.
This shows a development path opposite to that of AINN Layer2. MyShell first developed AI functions before launching Layer2, while AINN Layer2 first established L2 and plans to launch AI applications in the future.
Yesterday (22nd), AINN Layer2 concluded its Bitcoin halving points doubling event and changed the rules for the “card-drawing” incentive points. The new rule is that the team needs to reach 0.5 BTC to draw a card, and the formula for the interval days has been adjusted to 1 / team TVL (measured in BTC). For example, if the team stakes 1 BTC, each team member can draw one card per day.
On the 19th, the project launched the AINN Rune Store, a one-click issuance platform for runes, and is about to issue its first rune on the platform. Users holding $AINN and AINN Rune Star are eligible for whitelist-free minting.
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