FLock.io Announces Year-End Launch Of FLOCK, Unveiling Token’s Core Functions And Utilities
In Brief
FLock.io announced the upcoming launch of its new token, FLOCK, designed to support its private AI training ecosystem, with its debut on crypto exchanges scheduled for December 31.
Decentralized AI training platform FLock.io announced the upcoming launch of its new token, FLOCK, which is set to debut this Holiday season.
FLOCK serves as the cornerstone of FLock.io’s private AI training ecosystem, acting as the coordination mechanism for the training and enhancement of private AI models. This token underpins key components of the platform, including the AI Arena, where participants can train, validate, and delegate AI models to earn rewards; the FL Alliance, a network of collaborative nodes that fine-tune AI models using proprietary data and local computational resources without transferring data ownership; and the AI Marketplace, where models are deployed, used, and iteratively improved based on user feedback.
The tokenomics of FLOCK are designed to ensure a balanced and secure ecosystem. Participation is incentivized by rewarding contributors such as training nodes, validators, and delegators based on their performance and staking efforts. To maintain system integrity, mechanisms like staking and slashing are implemented to deter malicious activities and ensure high-quality contributions. Additionally, the governance of the platform is decentralized, allowing token holders to influence the future of FLock.io through DAO-based voting.
FLOCK also drives the FLock.io ecosystem through various utilities. Users can stake the token to participate in AI training and validation processes or delegate their FLOCK to trainers and validators to earn rewards. The token is used for paying fees to access AI models and platform services, as well as for proposing and voting on protocol upgrades within the DAO. Furthermore, slashing tokens are employed as a penalty for malicious actors, ensuring the ecosystem remains secure and fair.
The token is already listed on the centralized exchange MEXC, where users can deposit it ahead of trading, which is scheduled to begin on December 31st. Bybit, another cryptocurrency exchange, is supporting FLOCK through its Launchpool program, enabling users to stake FLOCK, USDT, or MNT tokens to compete for a share of 10 million FLOCK. The staking period for this initiative will also commence on December 31st, giving users an early opportunity to engage with and benefit from the ecosystem.
FLock.io What Is It?
It is a decentralized AI training platform that integrates Federated Learning and blockchain technology to transform the development of AI models. By facilitating secure, privacy-preserving training without requiring centralized data storage, FLock.io empowers communities to collaboratively create, train, and maintain ownership of AI models. The platform’s ecosystem features several key components: the AI Arena, which supports competitive AI model training; the FL Alliance, which enables privacy-preserving collaboration; and the AI Marketplace, where models can be deployed, utilized, and refined based on user feedback.
Earlier this month, FLock.io announced that it had successfully raised an undisclosed amount in a strategic funding round led by Digital Currency Group (DCG). The round also saw participation from notable investors and strategic partners, including Faction, Animoca Brands, Fenbushi Capital, and GnosisVC by Gnosis. This milestone builds on the project’s earlier success in securing $6 million during its seed funding round, completed in March of this year.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
