Original Title: “gensyn Dual Approach: A Quick Look at AI Tokens and Model Prediction Market Delphi”
Original Author: Sanqing, Foresight News
On December 9, the gensyn Foundation announced that it will launch an AI token offering on the Sonar platform on December 15, with registration and KYC verification now open. This offering adopts an English auction model with a valuation cap, selling 300 million tokens (3% of the total supply) with a valuation cap of $1 billion FDV, matching the valuation of the a16z-led Series A round. As a decentralized AI computing infrastructure, gensyn has also recently launched Delphi, a public market for machine intelligence based on model performance evaluation. Previously, gensyn raised over $50 million cumulatively in its seed and Series A rounds, led by Eden Block and a16z, respectively.
AI Token Offering Details
The gensyn Foundation will publicly sell AI utility tokens through Sonar to raise funds for the development of the gensyn ecosystem. The AI token is a utility token within the network and does not represent any equity, ownership, or financial instrument.
This gensyn token offering uses an English auction format with a valuation cap. The total supply of AI tokens is 10 billion, with 300 million tokens offered in this public sale. The valuation floor is set at $1 million FDV ($0.0001 per token), and the valuation cap is set at $1 billion FDV ($0.1 per token), which is the same price as gensyn’s previous a16z venture round. The gensyn Foundation has reserved an additional 2% of tokens, which will be distributed to participants in the testnet and those who choose to lock their tokens through a “reward multiplier” mechanism.
The offering will take place on the Ethereum mainnet, accepting payments in USDC and USDT, with a minimum bid amount of $100 per user. Tokens will be distributed on the gensyn Network (L2). Registration opened on December 9, the offering opens on December 15, and closes on December 20. Allocation will be determined on December 25, at which time the MiCA refund window will open and close on January 8. Token claiming is expected to open in early February.
Bidders must select the maximum price they are willing to pay and the bid amount. After the auction ends, tokens will be allocated starting from the highest bidder until all 300 million tokens are distributed, thus determining the clearing price. All successful bidders will pay the same clearing price. If demand at the clearing price exceeds the available token supply, allocation will be determined based on multiple factors, including testnet participation, community involvement, open-source ML contributions, lock-up choices, and bid order.
Non-U.S. participants may choose a 12-month lock-up in exchange for a 10% reward multiplier and priority allocation. Locked tokens cannot be sold, transferred, or hedged before the end of the lock-up period. All participants must complete KYC (identity verification) via Sonar. Residents of restricted regions such as the UK, Russia, Cuba, Iran, North Korea, Syria, and Ukraine are not eligible to participate. U.S. participants must be qualified investors and are subject to a mandatory 12-month lock-up but will receive a 10% reward multiplier and priority allocation.
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 AI’s potential requires massive computing power, and gensyn provides this at unlimited scale and fair market prices. By connecting underutilized hardware worldwide, 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 graduated from Brown University. Co-founder Ben Fielding holds a Ph.D. in Computer Science from Northumbria University. COO Jeff Amico was a partner at a16z and General Counsel at AirSwap, holding a J.D. from Columbia Law School. Head of Marketing Austin Virts previously 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 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 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. The valuation cap for this AI public offering is set at $1 billion fully diluted valuation, corresponding to the equity pricing level of the previous a16z-led round.
Delphi: The “Prediction Market” for Model Performance
On December 8, gensyn launched Delphi, a public 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 buy and hold shares of their favored models, 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 enables 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, free from 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.