Gensyn launches two initiatives: a quick look at the AI token public sale and the model prediction market Delphi

gensyn valuation cap at 1 billion USD, entering AI computing infrastructure at the same price as a16z.

Written by: Sanqing, Foresight News

The gensyn Foundation has announced that it will conduct an AI token offering on the Sonar platform on December 15, with registration and KYC verification now open. This offering will use an English auction model with a valuation cap, selling 300 million tokens (accounting for 3% of the total supply), with a fully diluted valuation (FDV) cap of 1 billion USD, matching the valuation of the Series A round led by a16z. As a decentralized AI computing infrastructure, gensyn has recently launched Delphi, an open market for machine intelligence based on real model performance evaluation. gensyn previously raised over 50 million USD in combined seed and Series A rounds, led by Eden Block and a16z, respectively.

gensyn: AI Computing Infrastructure

gensyn focuses on creating a decentralized protocol aimed at unifying global computing power into a single, open machine learning network. The protocol standardizes the execution, verification, and coordination processes of machine learning workloads, allowing any device—from personal computers to data centers—to participate, thus enabling AI systems to break free from centralized constraints and scale up.

gensyn is built on a custom Ethereum Rollup, integrating four core components: consistent machine learning execution, trustless verification, peer-to-peer communication, and decentralized coordination, to ensure compatibility, fairness, and permissionless participation in the global computing ecosystem.

gensyn co-founder Ben Fielding emphasized that realizing the potential of AI requires massive computing power, and gensyn provides this capability at unlimited scale and fair market prices. By connecting underutilized hardware around the world, gensyn significantly increases computing supply.

Team and Funding Information

The core team of gensyn consists of members with backgrounds in technology, investment, law, and marketing. Co-founder Harry Grieve was previously an angel investor and is a graduate of Brown University. Co-founder Ben Fielding holds a PhD in Computer Science from Northumbria University. Chief Operating Officer Jeff Amico was formerly a partner at a16z and General Counsel at AirSwap, holding a JD from Columbia Law School. Head of Marketing Austin Virts has worked on marketing and community roles at several crypto projects including Aptos, Audius, Solana, and Origin Protocol, and graduated from Millersville University of Pennsylvania. Product Manager Diogo Ortega previously worked at Coinbase and Autograph, responsible for crypto product and user experience functions.

In terms of funding, gensyn completed a 6.5 million USD seed round on March 21, 2022, led by Eden Block, with participation from Galaxy Digital, Maven 11, CoinFund, and others. On June 11, 2023, gensyn completed a 43 million USD Series A round led by a16z, with participation from CoinFund, Canonical Crypto, Protocol Labs, Eden Block, and others. The total amount raised in both rounds exceeds 50 million USD. The valuation cap for this AI public offering is set at a fully diluted valuation of 1 billion USD, corresponding to the equity pricing level of the previous round led by a16z.

Delphi: A "Prediction Market" for Model Performance

On December 8, gensyn launched Delphi, an open market for machine intelligence based on real performance evaluation. Delphi is now live on the gensyn testnet.

Delphi innovates the value discovery mechanism for AI models, allowing users to watch machine learning models compete in real time on specific benchmarks. Users can purchase and hold shares of models they favor, similar to "betting" on technical strength. As competition results are revealed, supporters of the winning models receive rewards.

Unlike traditional venture capital bets on private companies like OpenAI, Delphi allows market participants to directly support open-source models. Through an on-chain automated market maker (LMSR) mechanism, Delphi provides continuous liquidity and transparent pricing, forming a real-time index that reflects the true intelligence level of models, discarding pure marketing hype and AGI empty promises.

The launch of Delphi completes gensyn's "Signal, Scale, Eval" flywheel. In the future, users will not only be able to participate in predictions but also create their own evaluation markets or submit models for competition.

Currently, all transactions in the Delphi market use the test token TEST, which users can claim within the application.