As we close out 2024, I am thrilled to reflect on a transformative year for Chainbase, marking our fourth year of operations. This year, our network became decentralized, we secured significant fundraising, and our community growth was nothing short of explosive. Adhering to our roadmap outlined in "The Secret Chainbase Master Plan", we've achieved substantial milestones.
📃 Chainbase Litepaper
We published the Chainbase Litepaper, providing detailed insights into our network's design principles, technical architecture, and economic models. This document has become a cornerstone for global understanding of our platform, embodying the collective intelligence of our contributors.
🔗 Chainbase Testnet & Chainbase AVS
Chainbase Testnet went live in Q3, responding to the growing demand for high-quality, structured, and trustworthy data required by AI systems. Utilizing EigenLayer AVS as a critical component of our execution layer, we are at the forefront of pioneering trusted data computation on-chain.
The testnet saw participation from thousands of developers and node operators, who worked together to ensure the network’s stability and security. At the same time, regular users explored the Chainbase ecosystem through the Chainbase Genesis, gaining a hands-on understanding of its capabilities. These activities laid a solid foundation for the upcoming mainnet launch.
💰 Fundraising
In July, we successfully closed a $15 million Series A funding round with support from leading crypto funds, strategic investors, and venture capitals.
This funding has allowed us to accelerate the development of our products and community, ensuring that Chainbase is ready to foster the growth of the open AGI economy. We are deeply grateful to our supporters, contributors, and partners for believing in our vision and joining us on this journey.
By the Numbers
This year, we integrated over 220 public chains, processed over 600 million data queries daily, and grew our developer community to include over 31,000 developers working on 8,000+ projects. Our AVS on EigenLayer attracted over 2,000 validators, securing a total value locked (TVL) of 581,075 ETH, equivalent to approximately $1.96 billion.
The Odyssey event—Chainbase Genesis Campaign—drew significant engagement, attracting 31 million wallets, with 2 million maintaining long-term engagement. This success sparked exponential growth across all communication channels, with Twitter/X followers soaring to 550,000 in just six months and Discord membership jumping from 3,755 to 339,000 within the year.
These figures not only highlight Chainbase’s rapid expansion and the widespread attention it has attracted but also underscore our community's invaluable support and contributions. Your active participation is what truly inspires us daily.
🌐 Ecosystem Expansion
We have deepened our collaborations within the ecosystem, focusing on global developer education and industry summits. Our partnerships with over 220 EVM-compatible and non-EVM chains, including Solana, Near, and ICP. One of our major focuses is to further facilitate smarter Decentralized AI with data intelligence. We kicked off our collaboration with io.net, Atheir, Flock.io, Gaia, Carv, Google Gemini and Google Cloud, and many more to be expected in the future.
Our team participated in over 30 global conferences across 14 countries, emphasizing the critical role of high-quality data in building superior AI systems. Notable events included Token2049 in Singapore, EthGlobal, Amber.cc Hackathon, Korea Blockchain Week, Thailand DevCon, and Taipei Blockchain Week.
Our community has also developed a unique “Chainbase Mafia” culture, reflecting a sense of shared identity and ambition. We also launched the Global Ambassador Program, which attracted over 500 applicants. Ambassadors from 13 countries have played a critical role in organizing events, translating content, and promoting Chainbase locally, contributing significantly to our global expansion.
🔮 What to Expect in 2025
History shows that every technological revolution brings a restructuring of monetary systems. From gold to fiat currency, and now to Bitcoin and Ethereum, each monetary system has responded to the needs of its time.
As we enter the AI era, interactions between Agents and machines are becoming a reality. Traditional currencies, hindered by centralization, high barriers to entry, and inefficiency, are proving inadequate. In contrast, native cryptocurrencies, characterized by their permissionless, trustless, and decentralized nature, are emerging as the optimal choice for the AI economy.
The AI economic system is built on three core elements: computation, data, and models, each supported by specific economic tools. $IO facilitates computational transactions, $BITTENSOR incentivizes model training, and $C serves as the monetization vehicle for data. Moving forward, Chainbase's primary goal is to launch its mainnet, a crucial step in transforming $C from concept to reality, driving data monetization, incentivizing intelligence sharing, and providing AI systems with continuous high-quality data. Ultimately, $C is set to be a foundational pillar for an open AGI economy.
💜 A Thank You Note
2024 was a milestone year made possible by the dedication and support of our community. We look forward to the challenges and opportunities of 2025 and extend our heartfelt thanks to everyone who has believed in and supported Chainbase.
🥂 Stay optimistic, and see you next year! ✨
Best regards,
Mogu, Founder of Chainbase
