V0 — The Torus (BalanceAI Network — Mainnet)

BalanceAI Network
6 min readMay 10, 2024

Introduction

On a symbolic level, a torus implies motion in a continuous cycle. In addition, because a torus has two radiuses — a large one and a small one — it represents the idea of something small that is an integral part of something larger.

“The Torus” represents the inaugural phase of BalanceAI Network, signifying the commencement of a convergence between AI and blockchain technologies.

This stage encapsulates the inception of a balanced and symbiotic relationship, as the inaugural phase of our journey unfolds. The Torus sets the base for seamless collaboration, innovation, and the realization of our collective vision.

Index

— Proof of Stake (PoS)
— Validators
— Nominating Validators
— Native token
— Utility
— Staking Rewards
— Distribution
— Halvings / Emissions
— AI Expert System
— BAI Wallets
— BAI Dashboard
— Interlink Community Bridge

Proof of Stake (PoS)

Blockchain networks employ consensus mechanisms to confirm blocks on the chain. Consensus involves reaching agreement on the progression of the blockchain or the method by which blocks are appended to the chain. Consensus entails two primary actions:

  • Block production, which pertains to the generation of multiple block candidates.
  • Block finality, which solidifies the confirmation of selected blocks onto the chain.

Within Proof-of-Stake (PoS) networks, BalanceAI Network security correlates with the quantity of capital secured on the chain. Increased capital locking diminishes the likelihood of network attacks, as potential attackers face substantial losses in orchestrating successful attacks (further elaboration follows). The act of securing tokens on the chain is termed staking.

In contrast to miners in PoW networks, PoS networks feature validators who are not required to engage in competitive solving of mathematical puzzles. Instead, they are predetermined to generate blocks according to the stake supporting them. Token holders have the option to lock funds on the chain and, in return, receive staking rewards.

Validator Node (WorkFlow)

Validators

In a Proof of Stake (PoS) blockchain, a validator is a participant responsible for confirming transactions and creating new blocks on the blockchain. Validators are chosen to propose and validate new blocks based on the amount of tokens they hold and are willing to “stake” as collateral.

Nominating Validators

Nominating on BalanceAI chain involves two steps:

  • Locking tokens on the blockchain.
  • Choosing a group of validators to whom these locked tokens will be automatically assigned.

Native token

The term “native token” is used to refer to a token that is created on a specific blockchain. In BalanceAI blockchain the native token is BAI.

Utility

BAI has the following utility:

  • Validation and staking as part of Proof of Stake
  • Model Validation Locks — when registering the model, the provider has to lock certain amount of tokens as a guarantee for the model he/she provides.
  • Accessing Models and Agents by holding/staking BAI tokens
  • Incentives for model providers:
  • Part of the emissions goes to funds for model providers and agent providers

Staking Rewards

Validators who generate a block receive tokens as a reward, and they have the option to distribute rewards among their nominators. Both validators and nominators can stake their tokens on the chain and receive staking rewards at the conclusion of each era. The staking mechanism distributes rewards equally to all validators irrespective of their stake. Consequently, the quantity of stake in a validator does not impact the block rewards it obtains. This prevents the concentration of power among a small group of validators.

Distribution

Initial Distribution in the BAI Ecosystem V0

The daily emission allocation of BAI showcases a structured approach aimed at maintaining and developing its blockchain network. With a total of 2480 BAI distributed each day from the mainnet V0 till the first halving event, the system is characterized by a calculated division that prioritizes both network security and the promotion of innovation in model and agent creation.

In the philosophy of Plato, the number 2480 was believed to represent the ideal proportion of

the universe. According to Plato, the number 2480 was derived from the ratio of the circumference of a circle to its diameter.

The current emission distribution, highlighting the 44% allocation to validators and delegators, who play a key role in the stability and security of the network. Additionally, 48% is allocated to model and agent providers under the Market Models Providers Grants Fund and Agent Providers Grants Fund to encourage technological development and model creation. A remaining 8% is allocated to the Network Development Fund, ensuring resources for the continuous evolution of the platform.

Validators + Delegators: 44%

Model Miners (Providers): 48%

— Marketplace Models Providers Grants Fund

— Agent Providers Grants Fund

Network Development Fund: 8%

Halvings / Emissions

The predetermined total supply of 21 million tokens in BalanceAI Network ensures scarcity and controlled issuance. As half of the total supply is reached, the issuance rate undergoes a halving event. This process continues at regular intervals until the full 21 million tokens are in circulation, maintaining scarcity and value over time.

Expected block time (sec) 12.00

Blocks per hour 300.00

Total / Max Supply 21,000,000.00

Initial Supply 5,880,000.00

AI Expert System

BalanceAI’s mainnet v0 introduces an expert system designed for trading decisions and risk management. By integrating machine learning with rule-based programming, the system enhances efficiency and accuracy in trading strategies, allowing for customizable risk models through the Python and CLIPS languages.

Learn More:

https://balancedao.medium.com/ai-expert-system-to-boost-trading-bd0f871f603e

Explore Grants:

https://balancedao.medium.com/announcing-our-first-ai-model-grant-programme-13f513a86361

https://balancedao.medium.com/announcing-our-second-grant-programme-6cf8ec49c572

Github:

BAI Wallets

Third party wallets

BalanceAI chain allows the use of many popular 3rd party wallets supporting Substrate chains. Examples:

  • Subwallet
  • All substrate supported mobile and web wallets

BAI Dashboard

A BAI dashboard is a digital application that allows individuals to store, manage, and interact with their BAI tokens and BAI network.

A dashboard serves as a centralized hub for monitoring and managing various aspects of the network. This comprehensive visual representation provides real-time insights into key performance indicators (KPIs), allowing stakeholders to quickly identify trends, optimize operations, and make data-driven decisions.

Interlink Community Bridge

A bridge between two blockchains is a mechanism or protocol that facilitates the transfer of assets or data between two distinct blockchain networks.

The Community Maintained Bridge Between BalanceAI and Ethereum Networks

BaiBridge is a 3rd party community-maintained bridge that connects BalanceAI and Ethereum.

Functionality

  • Allows burn wBAI on Ethereum and transfer it to BalanceAI Network as BAI (1:1)
  • Allows to lock BAI on BalanceAI Network and mints wBAI on Ethereum (1:1)

Learn More: https://ethereum.org/en/bridges

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BalanceAI Network

BalanceAI is an open-source protocol that powers a decentralized, blockchain-based AI Models Marketplace.